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Debenhams CEO Bucher quits after lenders take control

CEO of Debenhams, Sergio Bucher, poses for a photograph inside the company's new store in Watford
FILE PHOTO: The Chief Executive of Debenhams, Sergio Bucher, poses for a photograph inside the company's new store in Watford, Britain, September 24, 2018. REUTERS/Peter Nicholls

April 18, 2019

LONDON (Reuters) – Debenhams said on Thursday its chief executive Sergio Bucher had decided to step down, nine days after the ailing British department store group’s lenders took control.

The group’s non-executive chairman Terry Duddy will assume the role of interim executive chairman until a permanent replacement is found, the company said.

Bucher, a former Amazon executive who joined Debenhams in October 2016, said that with new financing facilities in place it was time to move on.

Administrators were appointed to the group, which had been hit by a sharp slowdown in sales, high rents and ballooning debt on April 9.

(Reporting by Paul Sandle; Editing by Susan Fenton)

Source: OANN

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Wall Street bull run hinges on earnings

FILE PHOTO: Street signs for Broad St. and Wall St. are seen outside of the NYSE in New York
FILE PHOTO: Street signs for Broad St. and Wall St. are seen outside of the New York Stock Exchange (NYSE) in New York, U.S., March 7, 2019. REUTERS/Brendan McDermid

April 9, 2019

By April Joyner

NEW YORK (Reuters) – Optimism that the United States and China will soon reach a trade deal has helped propel stocks close to new highs, but the decisive factor in whether the bull market runs much further may be this year’s corporate earnings.

Earnings season begins in earnest on Friday when JPMorgan Chase & Co and Wells Fargo & Co report quarterly results. Profit forecasts have been falling, and beating these lowered expectations could provide a catalyst for sustaining the rally that began a decade ago, investors say.

The S&P 500 has risen 14.8% so far this year and is now just 1.8% below its record closing high of 2,930.75 on Sept. 20 and even closer to the 2,900 median year-end forecast from market strategists polled by Reuters in February.

Rising expectations that a U.S.-China trade agreement is imminent have driven much of this year’s gain in stocks, a reversal of the sharp sell-off in the fourth quarter of 2018. The Federal Reserve’s move to pause interest-rate hikes has also helped fuel the run-up, outweighing concerns that the global economy is slowing.

Yet those factors may not be enough to sustain the bull run if corporate earnings are underwhelming. Risks remain on trade too, with U.S. trade official Clete Willems telling Reuters on Monday that the White House is “not satisfied yet” about all the issues standing in the way of a deal to end the U.S.-China trade war.

While earnings are expected to fall 2.5% year-over-year in the first quarter and register tepid growth in the second and third quarters, according to Refinitiv, consensus estimates have them rebounding in the fourth quarter, rising 8.9%.

“Whatever trade deal may come to fruition may cause a small short-term spike in markets, but it’s largely priced in,” said Oliver Pursche, chief market strategist at Bruderman Asset Management in New York. “Corporate earnings and economic data are much more critical.”

Especially worrying for investors is the potential of a corporate earnings recession, defined as at least two quarters of falling year-over-year profits, in 2019. First-quarter earnings are already projected to fall from 2018 figures, and further downward revisions to second-quarter estimates, currently at 2.5% year-over-year growth, could put them in negative territory as well.

“Almost all the earnings growth is backloaded into the end of the year,” said Emily Roland, head of capital markets research at John Hancock Investments in Boston. “We’re going to need a positive surprise in earnings to keep the engine running for strong market returns.”

Some believe that with lowered expectations, companies have ample room to surprise to the upside in their quarterly reports. Even if first-quarter profits decline, upbeat outlooks for the rest of the year could lift stocks.

Earnings estimates do not reflect the positive effect of lower interest rates, said John Carey, portfolio manager at Amundi Pioneer Asset Management in Boston. Lower rates also bode well for consumer confidence, Carey said.

“With a more benign interest-rate outlook, we could go back to more positive earnings projections,” he said. “It’s a fairly major development.”

TRADE DEAL COULD PLAY ROLE IN EARNINGS

While many investors believe a U.S. trade agreement with China would provide only a limited boost to equities at this point, the effects of such a deal could play a significant role in earnings outlooks for the second half of the year.

Investors have sought to pinpoint how much of a slowdown in China’s economic growth can be attributed to the effect of U.S. tariffs.

If China’s economy continues to slow even after a trade deal is reached, that malaise could inflame global economic fears once again, said Shannon Saccocia, chief investment officer at Boston Private. That could trigger a flight away from shares of U.S. multinationals with high China exposure, similar to what occurred in the spring of 2018.

But several market watchers expect a rebound in Chinese economic growth as the country’s stimulus measures take root and trade pressures are alleviated.

Such a recovery would bode well for U.S. corporate earnings, particularly in the technology sector. The Philadelphia Semiconductor Index, for instance, has risen 26.8% this year on the expectation that demand for chips will rebound as China’s pace of economic growth is restored.

“If earnings growth firms up a little bit, that can drive the market higher,” said James Ragan, director of wealth management research at D.A. Davidson in Seattle. “If we have a good U.S. economy and get China stimulus, you could make the argument that the environment for corporate earnings is positive.”

(Reporting by April Joyner; Editing by Alden Bentley and Cynthia Osterman)

Source: OANN

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US Jewish Leaders Slam Netanyahu's Parliament Moves

Jewish-American rabbis, organizations, and donors have lashed out at Israel Prime Minister Benjamin Netanyahu's efforts to ensure a racist, far-right party is part of the next parliament.

Netanyahu has pushed for weeks for an election pact between Otzma Yehudit, an extremist party that includes supporters of the racist Rabbi Meir Kahane, and the religious-Zionist Habayit Hayehudi party, Haaretz reported.

He convinced both to join forces Wednesday and run on a joint ticket in the April 9 election, increasing their chances of winning seats in the Knesset.

"This will complicate efforts to advocate for Israel, especially within the Jewish community. What are we supposed to tell our children?" former Rep. Robert Wexler, D-Fla., warned, per Haaretz.

"We, Zionists, and supporters of Israel in America, spend so much effort to rightly expose and highlight incitement on the Palestinain side. So, when the prime minister gives this legitimacy to such an extreme party, it hurts our efforts. I fear that it will introduce some degree of moral equivalence and serve to rationalize incitement. That's not helpful." 

Rabbi Rick Jacobs, head of the Union for Reform Judaism – the largest Jewish organization in North America – called it "deeply distressing to imagine that those who follow in the footsteps of Meir Kahane could be welcomed into Prime Minister Netanyahu's political circle," Haaretz reported.

And Susie Gelman, a major Jewish philanthropist who has supported Jewish and Israeli institutions for decades, told the news outlet she found the efforts "absolutely shocking."

"I have had policy disagreements with Netanyahu before, but this raises a new question: Is there any line of decency and morality that he will not cross?" she added, Haaretz reported.

Anti-Defamation League CEO Jonathan Greenblatt also weighed in on social media.

"There should be no room for racism & no accommodation for intolerance in Israel or any democracy," he tweeted. "ADL previously has spoken out on hate-filled rhetoric of leaders of the Otzma Yehudit party, it is troubling that they are being legitimized by this union."

Source: NewsMax America

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Pat Buchanan to Newsmax TV: Norms Evolved, Biden Didn’t

Former Republican presidential candidate and Reagan administration official Pat Buchanan told Newsmax TV that Joe Biden has a "fairly serious and damaging problem" on his hands in regard to the claims of misconduct leveled at him by multiple women.

During an appearance on "Newsmax Now," Buchanan discussed the former vice president's woes as the latter prepares to announce his candidacy for president.

"I think he's gonna have to say more because as soon as he announces — if he announces, and I predict he will — I think the first questions the press is gonna hit him with are questions about these events, which are clearly problematic," Buchanan said. "They've dominated the news for three or four days."

Earlier Wednesday, Biden released a video in which he pledged to respect people's boundaries moving forward. Four women have gone public with claims he made them uncomfortable during physical interactions over the years.

"Joe Biden was in the mainstream of the Democratic party and pretty much in the mainstream of the country during his career as a United States senator," Buchanan said. "The mainstream has moved, and Joe Biden didn't move with it."

Buchanan then used a sports analogy to describe Biden's predicament.

"I think it's sort of a turnover on your first possession of the ball," he said.

Important: Newsmax TV is now carried in 65 million cable homes on DirecTV Ch. 349, Dish Network Ch. 216, Comcast/Xfinity Ch. 1115, U-verse Ch. 1220, FiOS Ch. 615 or More Systems Here.

Source: NewsMax America

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Asian shares lose steam as investors grapple with U.S. recession risk

FILE PHOTO: A man stands in front of an electronic board showing the Nikkei stock index outside a brokerage in Tokyo
FILE PHOTO: A man stands in front of an electronic board showing the Nikkei stock index outside a brokerage in Tokyo, Japan, March 25, 2019. REUTERS/Kim Kyung-hoon

March 27, 2019

By Hideyuki Sano

TOKYO (Reuters) – Asian shares slipped on Wednesday, giving up their small gains made the previous day, as investors tried to come to terms with a sharp shift in U.S. bond markets and the implications for the world’s top economy.

MSCI’s broadest index of Asia-Pacific shares outside Japan fell 0.2 percent while Japan’s Nikkei lost 0.6 percent.

Wall Street’s main indexes tallied solid gains on Tuesday but finished below their session highs in a reflection of the underlying concerns about the economic outlook.

The S&P 500 gained 0.72 percent while the Nasdaq Composite added 0.71 percent.

The 10-year U.S. Treasuries yield inched up to 2.425 percent from Monday’s 15-month low of 2.377 percent, though the yield curve remained inverted, with three-month bills yielding 2.461 percent, more than 10-year bonds.

The inversion spooked many investors as this phenomenon has preceded every U.S. recession over the past 50 years, triggering a dramatic selloff in stock markets across the globe late last week and a stampede into longer-dated U.S. government debt.

“While the markets now got out of the extreme nervousness about the U.S. yield curve, there is no denying that U.S. data has been soft of late, hardly dispelling worries about the outlook,” said Hirokazu Kabeya, chief global strategist at Daiwa Securities.

The silver lining for stock bulls is that in the past it has usually taken many months before the United States had slipped into recession after the curve was first inverted.

Yet the signs from a raft of economic data, including a set of indicators on Tuesday, weren’t encouraging.

Home building fell more than expected in February as construction of single-family homes dropped to near a two-year low while the consumer confidence index by the Conference Board fell unexpectedly.

“We are entering a new phase in markets as the U.S. monetary policy cycle has come to a turning point, from rate hikes to rate cuts,” said Akira Takei, bond fund manager at Asset Management One.

“Not all market participants have changed their mind-set yet. But as time goes by, it will become clear that a rate cut is the real possibility. The curve will be inverted further until the Fed cut rates,” he said.

Many major economies in the world, including China, Europe and Japan, are already slowing down, not helped by uncertainties stemming from trade frictions between the U.S. and China as well as Brexit.

A senior International Monetary Fund official said on Tuesday trade tensions between the U.S. and China have caused huge amounts of economic uncertainty and could cut Asia’s economic growth by 0.9 percentage point.

Investors are left wondering what to expect on Britain’s plan to exit from the European Union, with potential scenarios spanning from a cancellation of Brexit to a no-deal exit.

Prime Minister Theresa May will address her Conservative lawmakers, possibly to set out a timetable for her departure, to win support for her twice-rejected Brexit deal as the parliament prepares to vote on a variety of possible options.

Ahead of the so-called indicative votes, the pound stood little changed at $1.3205.

The euro slipped to a two-week low of $1.1262 as the dollar gained some footing on a rebound in U.S. bond yields. The common currency last fetched $1.1276.

The dollar edged back to 110.50 yen, from Monday’s 1-1/2-month low of 109.70.

Oil prices remained supported by supply curbs by the Organization of the Petroleum Exporting Countries plus allies and as Venezuela’s main oil export port and four crude upgraders have been unable to resume operations following a massive power blackout.

U.S. crude futures traded at $59.86 per barrel, down slightly on Wednesday but up 1.4 percent so far this week.

(Editing by Shri Navaratnam)

Source: OANN

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Disorderly Brexit to hit Irish jobs: think tank

A man walks on Grafton Street in Dublin
A man walks on Grafton Street in Dublin, Ireland August 14, 2017. Picture taken August 14, 2017. REUTERS/Clodagh Kilcoyne

March 26, 2019

DUBLIN (Reuters) – Irish employment would be 3.4 percent lower if Britain leaves the European Union without a deal than it would be if its neighbor remained in the bloc, a study showed on Tuesday, presenting a more severe outcome than previous research.

Ireland’s 2.3-million-strong workforce would create 80,000 fewer jobs over the next 10 years through a combination of job cuts and roles that would otherwise have been created if Britain leaves without any orderly transition for trade, the government-commissioned report said.

Ireland’s Finance Ministry had forecast 50,000 fewer jobs in a similar scenario.

Due to the two country’s close trading links, the Economic and Social Research Institute’s (ESRI) study estimated that even if Britain makes an orderly agreed exit from the EU, employment would still be 1.8 percent lower than if trade remained as it is now, the equivalent of 45,000 jobs.

All forecasts published to date suggest that Ireland’s fast growing economy – which has outstripped every other EU country for each of the past five years – will still grow if Britain leaves with or without a deal, but at a slower pace.

The ESRI, which is an independent think-tank partly funded by the finance department, said gross domestic product would be 2.6 percentage point lower than it otherwise would have been in 10 years time with a deal and 5 percent in a chaotic no deal.

The initial Finance Ministry research from January suggested that GDP would be 4.25 percentage points less than forecast by 2023 under a disorderly Brexit, while the Irish central bank put the hit at 6 percentage points over a decade

(Reporting by Padraic Halpin; Editing by Janet Lawrence)

Source: OANN

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Alex Jones – Info Wars

12:00 pm 4:00 pm



The Latest on fatal pileup on Interstate 70 near Denver (all times local):

10:10 a.m.

Colorado officials say four people have died after a semi-truck hauling lumber plowed into vehicles on Interstate 70, causing a fire so intense that it melted the roadway and metal off of cars.

Authorities had to wait until daylight Friday to confirm the death toll from Thursday’s 28-vehicle pileup because of the devastation caused by the fire.

Six people were taken to hospitals with injuries. Their conditions are unclear.

Lakewood police spokesman Ty Countryman says the driver of the truck who caused the crash sustained minor injuries. He has been arrested on suspicion of vehicular homicide.

Officials say the driver was headed down a hill when he slammed into slower traffic. Countryman says there is no indication the crash was intentional.

____

7:40 a.m.

A truck driver blamed for causing a deadly pileup involving over two dozen vehicles near Denver has been arrested on vehicular homicide charges.

Lakewood police spokesman Ty Countryman said Friday that there’s no indication that drugs or alcohol played a role in Thursday’s crash.

The unidentified driver was headed down a hill on Interstate 70 when he slammed into slower traffic and sparked a massive fire. Countryman said police are looking at whether his brakes were working properly.

He said 28 vehicles were involved, up from the initial 15 vehicles police reported after further sorting through the burned wreckage.

Police still say there were multiple fatalities but are still working to provide an exact number.

The highway is expected to remain closed until Saturday.

Source: Fox News National

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Tiger woods celebrates after winning the 2019 Masters
FILE PHOTO: Golf – Masters – Augusta National Golf Club – Augusta, Georgia, U.S. – April 14, 2019 – Tiger Woods of the U.S. celebrates on the 18th hole after winning the 2019 Masters. REUTERS/Lucy Nicholson

April 26, 2019

Tiger Woods is sending a message that he thinks he still has enough left, emotionally and physically, to win three more major championships to tie Jack Nicklaus’ record 18 titles.

Speaking to GolfTV in his first sit-down interview since the Masters, Woods said he has taken some time off since his victory at Augusta National, which still doesn’t feel real.

“Honestly, it’s hard to believe,” Woods said. “I was texting one of my good friends last night … that I couldn’t believe that I won the tournament. That it really hasn’t sunk in. I haven’t started doing anything. I’ve just been laying there. And every now and again, I’ll look over there on the couch and there’s the jacket.”

That’s the fifth green jacket for the 43-year-old Woods, who hadn’t won a major tournament since the 2008 U.S. Open. Along the way, four back surgeries, a divorce and other personal issues derailed him.

He said he has been spending time with his children – daughter Sam, 11, and son Charlie, 10 – who weren’t born when their father was the most dominant golfer on the planet.

“They never knew golf to be a good thing in my life and only the only thing they remember is that it brought this incredible amount of pain to their dad and they don’t want to ever want to see their dad in pain,” Woods said. “And so to now have them see this side of it, the side that I’ve experienced for so many years of my life, but I had a battle to get back to this point, it feels good.”

He said he hopes – maybe expects — they’ll see this side again.

And no one will take Woods for granted at the PGA Championship at Bethpage Black Course on Long Island, N.Y., which starts May 16.

Woods said he’ll be ready for a course he already conquered once in a major: the 2002 U.S. Open.

“I’m doing all the visual stuff, but I haven’t put in the physical work yet. But it’s probably coming this weekend,” he said.

Before Woods encountered health and personal problems, it was expected that topping Nicklaus’ major mark was “when” and not “if.” Then the certainty went away, but Woods thought he still had a chance.

“I always thought it was possible, if I had everything go my way. It took him an entire career to get to 18, so now that I’ve had another extension to my career – one that I didn’t think I had a couple of years ago – if I do things correctly and everything falls my way, yeah, it’s a possibility. I’m never going to say it’s not.

“Now I just need to have a lot of things go my way, and who’s to say that it will or will not happen? That’s what the future holds, I don’t know. The only thing I can promise you is this: that I will be prepared.”

–Field Level Media

Source: OANN

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Maria Butina, the Russian woman who was accused of being a secret agent for the Russian government, was sentenced to 18 months in prison Friday by a federal judge in Washington after pleading guilty last year to a conspiracy charge.

Butina, who has already served nine months behind bars, will get credit for time served and can possibly get credit for good behavior, the judge said. She will be removed from the U.S. promptly on completion of her time, the judge added, and returned to Russia.

MARIA BUTINA, ACCUSED RUSSIAN SPY, PLEADS GUILTY TO CONSPIRACY

An emotional and apologetic Butina said in court Friday she is “truly sorry” and regrets not registering as a foreign agent.

“I feel ashamed and embarrassed,” she said, adding that her “reputation is ruined.”

Butina has been jailed since her arrest in July 2018. She entered the court Friday wearing a dark green prison jumpsuit and spoke in clear English, with a slight Russian accent.

“Please accept my apologies,” Butina said.

Butina’s lawyer, Robert Driscoll, said after the sentencing they had hoped for a “better outcome,” but expressed a desire for Butina to be released to her family by the fall.

Prosecutors had claimed Butina used her contacts with the National Rifle Association and the National Prayer Breakfast to develop relationships with U.S. politicians and gather information for Russia.

Prosecutors also have said that Butina’s boyfriend, conservative political operative Paul Erickson, identified in court papers as “U.S. Person 1,” helped her establish ties with the NRA.

WHO IS MARIA BUTINA, THE RUSSIAN WOMAN ACCUSED OF SPYING ON US?

In their filings, prosecutors claim federal agents found Butina had contact information for people suspected of being employed by Russia’s Federal Security Services, or FSB, the successor intelligence agency to the KGB. Inside her home, they found notes referring to a potential job offer from the FSB, according to the documents.

Investigators recovered several emails and Twitter direct message conversations in which Butina referred to the need to keep her work secret and, in one instance, said it should be “incognito.” Prosecutors said Butina had contact with Russian intelligence officials and that the FBI photographed her dining with a diplomat suspected of being a Russian intelligence agent.

Fox News’ Jason Donner, Bill Mears, Greg Norman and the Associated Press contributed to this report.

Source: Fox News Politics

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An official Sri Lankan police Twitter account was deleted after it misidentified an American human rights activist as a suspect in the country’s Easter Sunday terrorist attacks.

On Thursday, police posted the names and photos of six people that they said were at-large suspects in the bombings that killed more than 250 people.

However, one of the names on the list was Muslim U.S. activist Amara Majeed, who quickly tweeted that she had been falsely identified.

“I have this morning been FALSELY identified by the Sri Lankan government as one of the ISIS terrorists that committed the Easter attacks in Sri Lanka. What a thing to wake up to!” she wrote.

SRI LANKA AUTHORITIES SAY EASTER ATTACK LEADER KILLED IN ONE OF NINE HOTEL BOMBINGS

She wrote in a follow-up tweet that the claim was “obviously completely false” and asked social media users to “please stop implicating and associating me with these horrific attacks.”

“And next time, be more diligent about releasing such information that has the potential to deeply violate someone’s family and community,” she continued.

Later, she wrote an update saying police apologized for wrongly mistaking her as a suspect.

Police said in a statement: “However, although one of the released images was identified as one Abdul Cader Fathima Khadhiya in the information provided by the CID, the CID has now informed that a) the individual whose image was labeled as Abdul Cader Fathima Khadiya is not in fact Abdul Cader Fathima Khadiya b) the individual pictured is not wanted for questioning c) Abdul Cader Fathima is the correct name of the suspect wanted by the CID.”

On Friday, the account, @SriLankaPolice2 was deleted with no explanation. Police did not release more information regarding the mistake.

Majeed, who founded “The Hijab Project” when she was 16 years old, told the Baltimore Sun that it was hurtful to be linked to the attacks.

“Sri Lanka is my motherland,” the Brown University student said. “It’s very painful to be associated with [the bombings].”

CLICK HERE FOR THE FOX NEWS APP

Mohamed Zahran, the suspected leader of the attacks which targeted six hotels and churches, killed himself in a suicide bombing at the Shangri-La hotel. Police also said they had arrested the second-in-command of the group, called National Towheed Jamaat. Catholic churches in Sri Lanka canceled all Sunday Masses until further notice over concerns that they remain a top target of Islamic State-linked extremists.

The Associated Press contributed to this report.

Source: Fox News World

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Source: InfoWars

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