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Man accused of having 3 wives in 3 states awaits extradition

Maine prosecutors say New Hampshire will have first dibs on a man who is accused of being married to three women in different states.

Forty-three-year-old Michael Middleton is being held in Ohio while awaiting extradition to New Hampshire, where he's charged with bigamy. Officials say he married a New Hampshire woman while also being married to women in Alabama and Georgia.

But Maine prosecutors tell the Journal Tribune he's also wanted in Maine for charges of domestic violence assault and violation of a protective order in York County. They say he's also wanted for failure to pay a fine for operating under the influence and operating without a license in Presque Isle.

Middleton was arrested in Franklin County, Ohio. It's not known if he has an attorney.

Source: Fox News National

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Trump Budget Will Seek Funds for Border Wall, Space Force

President Donald Trump will be making a significant request for border wall funds and seeking money to stand up Space Force as a new branch of the military in the White House budget being released next week, an administration official said Friday.

For the first time, Trump plans to stick with the strict spending caps imposed years ago, even though lawmakers have largely avoided them with new budget deals. That will likely trigger a showdown with Congress.

The official said the president's plan promises to balance the budget in 15 years.

Trump will seek $750 billion for defense, while cutting non-defense discretionary spending by 5 percent, said the official, who was unauthorized to discuss the document ahead of its release and spoke on condition of anonymity

Budgets are mainly seen as blueprints for White House priorities. But they are often panned on Capitol Hill, where lawmakers craft the appropriation bills that eventually fund the government, if the president signs them into law.

Trump's budget for the 2020 fiscal year will increase requests for some agencies while reducing others to reflect those priorities. Reductions are proposed, for example, for the Environmental Protection Agency.

The official said Congress has ignored the president's spending cuts for too long. The federal budget is bloated with wasteful spending, the official said, and the administration remains committed to balancing the budget.

By proposing spending levels that adhere to budget caps, the president is courting a debate with Congress. Lawmakers from both parties have routinely agreed to raise spending caps established by a previous deal years ago to fund the government.

Trump, though, has tried to resist those deals. He threatened to veto the last one reached in 2017 to prevent a shutdown. Late last year, a fight over border wall funds sparked the 35-day shutdown that spilled into this year and became the longest in history.

Source: NewsMax Politics

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Texas woman seen attacked in viral video charged for damaging vehicle of alleged attacker

A Texas woman whose brutal beating by a man in a Deep Ellum parking lot two weeks ago was caught on camera is now facing possible criminal charges after cops say she damaged her alleged attacker’s pickup truck.

Dallas police said Tuesday they issued an arrest warrant for L'Daijohnique Lee, 24, two weeks after she allegedly broke the back windshield of Austin Shuffield’s pickup truck with a jump box – a charger for a car battery, WFAA reported.

She has not been arrested nor has she turned herself in yet.

The possible charge of criminal mischief come two weeks after Shuffield was seen on video punching Lee several times in the face during an altercation in a parking lot. The shocking video quickly went viral.

TEXAS MAN BRANDISHED BB GUN, HITMAN AND 10-YEAR-OLD GIRL WITH HAMMER, POLICE SAY

"We understand that some people are upset," Dallas police Deputy Chief Thomas Castro said at the news conference Tuesday. "It's not the intention of the Dallas Police Department to pick one side or the other. We simply had information that was provided to us on a criminal offense. We thoroughly investigated that offense. We took the action that was taken today."

He said Lee admitted to breaking the windshield, causing damage estimated at more than $3,000.

PROSECUTORS DROP ALL CHARGES IN DEADLY WACO BIKER SHOOTOUT

Lee’s attorney, Lee Merritt, slammed the possible charge on Twitter:

"A black woman alone in a dark parking lot is stalked, harassed and assaulted by a white male," Merritt posted. "He brandishes a gun, knocks away her phone when she tries to call for help – then beats her mercilessly with blows to the head. DPD just found a way to charge HER with a felony."

According to police, the entire incident began when Shuffield confronted Lee about blocking the parking lot exit with her car.

A witness recorded the exchange, which showed Shuffield pull out a gun while confronting Lee before knocking her cellphone from her hand and kicking it away.

Lee is seeing landing one punch on Shuffield's arm before he attacks her, delivering at least five punches that connect with the woman’s face.

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Shuffield, 30, was initially arrested on misdemeanor charges, but they were upgraded a week later to aggravated assault with a deadly weapon and unlawfully carrying a weapon, WFAA reported.

It is unclear when Lee allegedly broke the vehicle's back windshield.

Source: Fox News National

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Zimbabwe finance minister criticizes ‘profiteering’ price hikes as new currency falls

FILE PHOTO: Finance Minister Mthuli Ncube gestures during a media briefing in Harare
FILE PHOTO: Finance Minister Mthuli Ncube gestures during a media briefing in Harare, Zimbabwe, October 5, 2018. REUTERS/Philimon Bulawayo/File Photo

April 3, 2019

HARARE (Reuters) – Zimbabwe’s finance minister on Wednesday accused local businesses of profiteering for linking price increases of basic goods to exchange rate movements of a new transitional currency.

Since the RTGS dollar was introduced in February, prices of staples including sugar, cooking oil and rice have risen as much as 60 percent, squeezing already hard-pressed consumers and fuelling resentment against President Emmerson Mnangagwa’s government.

The RTGS launched at 2.5 to the U.S. dollar on Feb 22 and now trades at around 4.3 on the black market.

Price changes should be determined by inflation trends, minister Mthuli Ncube said, adding that month-on-month inflation was slowing.

“It is actually bad economics to link price increases to the exchange rate. That’s not how you do it, it is profiteering,” Mthuli told reporters.

The southern African nation dumped its hyperinflation-hit local currency in 2009 and replaced it with the U.S. dollar, which has been in short supply since 2016. That has in turn driven shortages of fuel, medicines and other goods, hobbling the economy.

In February Zimbabwe scrapped a 1:1 peg between the dollar and the bond notes and electronic dollars it introduced to compensate for the hard currency shortage, merging the surrogate currencies into the RTGS dollar.

On the official market, the RTGS weakened to 3.03 per U.S. dollar on Wednesday, according to central bank data.

But some retailers in major cities have pegged their prices using the higher black market exchange rate, as well as offering discounts on U.S. dollar purchases.

Ncube, who was announcing a $400 million wage deal for public sector workers, said the treasury was monitoring price hikes but would not be drawn on whether it would impose controls.

Although trade in the RTGS is restricted, economists expect the currency to come under more pressure when Zimbabwe starts importing grain as a consequence of a devastating drought this year, likely triggering more inflation.

The year-on-year inflation rate climbed to 59.39 percent in February. Ncube has previously said annual inflation will fall to below 10 percent by year-end.

(Reporting by MacDonald Dzirutwe; editing by John Stonestreet)

Source: OANN

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Boy Scouts could be hit with more sex abuse claims

The lawyers' ads on the internet aggressively seeking clients to file sexual abuse lawsuits give a taste of what lies ahead this year for the Boy Scouts of America: potentially the most fateful chapter in its 109-year history.

Sexual abuse settlements have already strained the Boy Scouts' finances to the point where the organization is exploring "all available options," including Chapter 11 bankruptcy. But now the financial threats have intensified.

The reason: States have been moving in recent months to adjust their statute-of-limitations laws so that victims of long-ago sexual abuse can sue for damages. New York state has passed a law that will allow such lawsuits starting in August. A similar bill in New Jersey has reached the governor's desk. Bills also are pending in Pennsylvania and California.

In New York and elsewhere, lawyers are hard at work recruiting clients to sue the Boy Scouts, alleging they were molested as youths by scoutmasters or other volunteers.

Plaintiffs' lawyers "recognize that this is a very unique and lucrative opportunity," said attorney Karen Bitar, who formerly handled sex-crime cases as a prosecutor in Brooklyn before going into private practice.

Attorney Tim Kosnoff, a veteran of major sexual abuse lawsuits against the Roman Catholic Church, said Tuesday that he and his team have signed up 186 clients from dozens of states in just the past few weeks who want to be part of litigation against the Boy Scouts. Kosnoff said 166 of them identified alleged abusers who have not been named in any of the Boy Scout files made public in past years.

Boy Scouts spokeswoman Effie Delimarkos said the organization continues to evaluate its financial situation, and she defended its current abuse-prevention policies. The organization serves more than 2.2 million youths.

A bankruptcy by the Boy Scouts could be unprecedented in its complexity, potentially involving plaintiffs in virtually every state, according to several lawyers. It would be national in scope, unlike the various Catholic Church bankruptcy cases in the U.S., which have unfolded diocese by diocese.

"A Boy Scout bankruptcy would be bigger in scale than any other sex abuse bankruptcy," said Seattle-based attorney Mike Pfau, whose firm is representing more than 300 victims in New York state.

Jeffrey Schwartz, a New York-based bankruptcy expert with the firm McKool Smith, said the Boy Scouts don't have a particularly large flow of cash and might be forced to sell off property in bankruptcy. The Boy Scouts have extensive land holdings, including camping and hiking terrain.

"They'll play for time," Schwartz said. "If their defense costs and settlement costs are greater than their membership fees, it could be a death spiral."

However, Dallas-based trial attorney Michelle Simpson Tuegel, part of a team representing numerous sex abuse survivors, said bankruptcy might benefit the Boy Scouts and reduce any payouts to plaintiffs.

"It can be a tool that these institutions use to shield assets and avoid having to reveal some information," she said. "In many ways, it's a disservice to victims."

Illustrating the depth of its problems, the Boy Scouts filed lawsuits last year against six of its own insurers, saying they have improperly refused to cover some of the sex abuse liabilities incurred by the organization. The insurers say the coverage obligation is voided because the Boy Scouts failed to take effective preventive measures such as warning parents that scouts might be abused. The suits are still pending.

The intensifying pressures on the Boy Scouts coincide with the mounting threats to the U.S. Catholic Church in regard to its own long-running sex abuse scandal. Catholic bishops will be meeting in Baltimore in June to discuss the next steps.

Both the church and the Boy Scouts are iconic, historically well-respected institutions now known as having been magnets for pedophiles trying to exploit the trust of boys and their parents.

"When you cloak people in badges of respect, you create the perfect opportunity for bad people to get access to children," said Chris Hurley, whose Chicago law firm is representing 11 former scouts in sex abuse trials scheduled on a monthly basis this year.

Another common denominator for the Catholic Church and Boy Scouts: Both kept voluminous secret files with names of suspected abusers, yet balked at sharing the information with the public.

Since the 1920s, the Boy Scouts have been compiling "ineligible files," which list adult volunteers considered to pose a risk of child molestation. About 5,000 of these files have been made public as a result of court action; others remain confidential.

Delimarkos said when any BSA volunteer is added to the database for suspected abuse, "they are reported to law enforcement, removed entirely from any Scouting program and prohibited from re-joining anywhere."

Minnesota-based attorney Jeff Anderson, who had led many lawsuits against the Catholic Church, released a court deposition in New York on Tuesday in which an expert hired by the Boy Scouts said she tallied 7,819 individuals in the "ineligible files" as of January, as well as 12,254 victims.

Anderson expressed hope that litigation triggered by New York's new Child Victims Act would increase pressure on the Boy Scouts to make public more of the still-confidential files.

Some of the files were ordered released after a 2010 sexual abuse case in Portland, Oregon, that led to a nearly $20 million judgment against the Boy Scouts on behalf of a man molested by a Scout leader in the 1980s.

Paul Mones, the plaintiff's lawyer in that case, said there are no overall figures on Boy Scout abuse settlements because the details are kept confidential.

Both the Boy Scouts and the Catholic Church say they now have policies in place to sharply curtail abuse that abounded in past decades. In the Boy Scouts ' case, the steps included requiring criminal background checks for all staff and volunteers, and requiring two or more adult leaders be present with youth at all times during scouting activities.

___

This story has been corrected to show that Effie Delimarkos is a spokeswoman, not a spokesman.

Source: Fox News National

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IEA sees U.S. leading global oil supply growth to 2024

FILE PHOTO: An oil pump is seen operating in the Permian Basin near Midland
FILE PHOTO: An oil pump is seen operating in the Permian Basin near Midland, Texas, U.S. on May 3, 2017. REUTERS/Ernest Scheyder/File Photo

March 11, 2019

By Dmitry Zhdannikov and Alex Lawler

LONDON (Reuters) – The United States will drive global oil supply growth over the next five years, adding another 4 million barrels per day to the country’s already booming output, the International Energy Agency said on Monday.

U.S. oil output, including natural gas liquids (NGLs) and other hydrocarbons, will climb to 19.6 million bpd by 2024 from 15.5 million last year, the Paris-based agency said. Gross crude exports will double, leading to greater competition especially in the Asian market.

Crude output in the United States will rise nearly 2.8 million bpd, growing to 13.7 million bpd in 2024 from just under 11 million bpd in 2018, the IEA said.

The outlook points to pressure on demand for crude from the Organization of the Petroleum Exporting Countries as the United States and other rivals expand supplies. However, in a boost for the producers, the IEA does not see a peak in global demand yet.

“The United States is increasingly leading the expansion in global oil supplies, with significant growth also seen among other non-OPEC producers, including Brazil, Norway and new producer Guyana,” the IEA, an adviser to the United States and other industrialized countries, said in its five-year outlook.

A boom in U.S. oil supply due to shale oil has countered efforts by OPEC and its partners led by Russia to restrain supplies. The so-called OPEC+ group began a new round of oil supply cuts in 2019 to support prices.

U.S. crude exports will surpass shipments from Russia and nearly catches up to Saudi Arabia by 2024, diversifying global supplies, the IEA said.

“The United States emerges as a significant oil exporter,” said Fatih Birol, IEA executive director, during a press conference at an industry summit in Houston. “The second wave of shale production growth is coming.”

Global oil demand growth is set to ease as China slows, but will still rise by an annual average of 1.2 million bpd to 2024 when it will reach 106.4 million bpd.

Even so, the IEA does not expect moves such as greater adoption of electric cars to put a cap on demand growth yet. Goldman Sachs has said oil demand could peak by 2024 under some circumstances.

“The IEA continues to see no peak in oil demand, as petrochemicals and jet fuel remain the key drivers of growth, particularly in the United States and Asia, more than offsetting a slowdown in gasoline due to efficiency gains and electric cars,” the IEA said.

Demand for OPEC crude will rise but given the growth expected from the United States and other non-OPEC producers, Saudi Arabia and its allies will probably have to maintain efforts to withhold supplies.

“Market management by producers is likely to remain necessary for some time given the outlook for the call on OPEC crude,” the report said.

The IEA forecasts demand for OPEC crude will drop in 2020 and then rise to average 31.3 million bpd in 2023. The 2023 figure is up by just 600,000 bpd from this year and less than the previous forecast.

Iraq, the IEA said, would reinforce its position as a top producer, becoming the world’s third-largest source of new supply and driving growth within OPEC.

“The increase will have to compensate for steep losses from Iran and Venezuela, as well as a still-fragile situation in Libya,” the IEA said.

(Reporting by Dmitry Zhdannikov; Editing by Dale Hudson and Marguerita Choy)

Source: OANN

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Trump Says He Expects to Meet N.Korea's Kim Again After Hanoi Summit

President Donald Trump said on Wednesday that he expects to meet with North Korean leader Kim Jong Un again after their planned summit next week in Hanoi.

Speaking at the White House, Trump said he would like to remove sanctions on North Korea, but that he needs to see Pyongyang make a move first on denuclearization.

"I don't think this will be the last meeting by any chance," Trump said.

The United States has been demanding that North Korea give up its nuclear weapons program that threatens the United States. North Korea has been insisting on the lifting of U.S.-led sanctions, a formal end to the 1950-53 Korean War and security guarantees.

Trump has been eager for the Feb. 27-28 summit in Vietnam, even though a first meeting in Singapore in June produced only vague commitments from Kim and little concrete progress since.

"I think they want to do something. We’ll see what happens," Trump said, adding that he would need to see "meaningful" progress from the other side before making any changes to the U.S. sanctions.

On Tuesday, Trump had reiterated that he wants North Korea to end its nuclear program, but added that he is in no rush and had no pressing time schedule for Pyongyang.

Source: NewsMax Politics

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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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FILE PHOTO: Uber's logo is displayed on a mobile phone in London, Britain
FILE PHOTO: Uber’s logo is displayed on a mobile phone in London, Britain, September 14, 2018. REUTERS/Hannah Mckay/File Photo

April 26, 2019

(Reuters) – Ride-hailing company Uber Technologies Inc unveiled terms for its initial public offering on Friday, telling investors it would seek to sell as much as $10.35 billion in stock at a valuation of up to $91.5 billion.

In a regulatory filing, Uber set a target price range of $44-$50 per share for its IPO. The company will sell 180 million shares in the offering, with a further 27 million sold by insiders.

In the filing, Uber also reported a net loss attributable to the company for the first quarter of 2019 of around $1 billion and revenues of roughly $3 billion.

(Reporting by Joshua Franklin; editing by Patrick Graham)

Source: OANN

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FILE PHOTO: Jet Airways aircraft are seen parked at the Chhatrapati Shivaji Maharaj International Airport in Mumbai
FILE PHOTO: Jet Airways aircraft are seen parked at the Chhatrapati Shivaji Maharaj International Airport in Mumbai, India, April 18, 2019. REUTERS/Francis Mascarenhas/File Photo

April 26, 2019

By Aditi Shah and Abhirup Roy

NEW DELHI/MUMBAI (Reuters) – The grounding of India’s Jet Airways is turning into a quick windfall and long-term opportunity for international airlines keen to scoop up nearly a million outbound passengers from what was once the nation’s biggest airline.

Jet, which previously had a fleet of around 120 largely Boeing Co planes, was forced to indefinitely halt all flight operations on April 17 after its banks rejected the carrier’s plea for emergency funds.

The carrier’s descent into crisis has benefited international airlines in the form of rising fares and demand, data showed.

Fares from India to cities such as Dubai, London, New York, Singapore and Bali in the first quarter of 2019 rose between 4 percent and 32 percent from a year ago, according to Indian travel portal MakeMyTrip Ltd.

In the peak travel months of May and June, fares to London have spiked as much as 36 percent and tickets to San Francisco are up nearly 20 percent from a year ago, according to data from travel portal Yatra.com.

“For the next three months it’s actually bonanza time for international players,” said Ashish Nainan, a research analyst at CARE Ratings. “At least until the middle of June, the fares are not going to come down.”

Due to rising demand, even before Jet’s lessors grounded planes, carriers such as British Airways, Cathay Pacific Airways Ltd, Singapore Airlines Ltd and United Airlines saw an up to a 27 percent increase in passenger numbers from India in the last quarter of 2018, data from India’s aviation regulator showed. That is the latest period for which the data is available.

India is one of the world’s fastest-growing aviation markets, clocking 15-20 percent domestic growth in recent years. It has long had only two full-service long-haul carriers, state-run Air India and Jet.

Jet is now hoping to be bailed out by a new investor, with final bids due on May 10.

INCREASING CAPACITY

Before its grounding, Jet had the biggest share of India’s outbound international air traffic, carrying 12 percent of the 7.8 million passengers headed overseas in the Oct-Dec quarter, down from 14 percent a year earlier, data from the Directorate General of Civil Aviation showed.

For an interactive graphic on Jet’s market share, click https://tmsnrt.rs/2WvDQYi

For an interactive graphic on average daily flights by the airline, click https://tmsnrt.rs/2FeFDel

The total number of passengers traveling overseas with Jet fell 10 percent during the last quarter of 2018 even as the outbound travel market grew about 5 percent.

Meanwhile, Singapore Airlines posted a 27 percent increase in passengers from India, Cathay registered 17 percent growth and British Airways saw a 10 percent rise in the same period.

Cathay said the events at Jet combined with increasing demand for travel had led it to deploy larger aircraft with more seats on some Indian routes.

“In the long term we would certainly like to be able to offer more capacity into India, not just on our existing routes but by establishing new services to secondary cities,” Cathay said in a statement.

Singapore Airlines, in an email to Reuters, said the Indian market is “very promising” but declined to give details of airfare levels or demand patterns in the wake of Jet’s exit, citing a quiet period before the release of its annual results.

DOMESTIC GAINS

Jet’s grounding has also had a big impact on the domestic market, with inter-city air fares to major cities such as New Delhi, Mumbai, Bengaluru and Kolkata soaring more than 20 percent in May and June, according to Yatra.com.

The spike in fares is expected to underpin strong earnings for IndiGo and SpiceJet Ltd, which are set to report results for the quarter ended March 31 in the coming weeks.

“Domestic Indian carriers are the main benefactors, but I suspect if Jet fails to be revived by May 10 then Vistara and other airlines that ply international routes, particularly the lucrative Gulf market, are the main winners,” said Shukor Yusof, the head of aviation consultancy Endau Analytics. Vistara is a joint venture of India’s Tata Sons and Singapore Airlines.

Inadequate bilateral traffic rights between India and other countries, however, could be an impediment to foreign carriers’ hopes of winning business lost by Jet, some analysts said.

“Even before Jet’s operational shutdown, international capacity was significantly constrained,” said Kapil Kaul, CEO for South Asia of consultancy CAPA. “We have now more serious capacity challenge … this is unlikely to be stabilized in the near term.”

A new national government likely to be in place sometime after elections end in May is expected to address the international capacity constraints, and once bilateral agreements are eased airlines including Emirates, Turkish and Qatar would immediately benefit, said Kaul.

“We would love to add more flights but we are at the limit of the allocation granted to us for traffic rights,” Emirates Chief Commercial Officer Thierry Antinori told reporters in Dubai on Wednesday.

(Additional reporting by Alexander Cornwell in Dubai, Jamie Freed in Singapore and Tanvi Mehta in Mumbai; Editing by Muralikumar Anantharaman)

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FILE PHOTO: The company logo for pharmaceutical company AstraZeneca is displayed on a screen on the floor at the NYSE in New York
FILE PHOTO: The company logo for pharmaceutical company AstraZeneca is displayed on a screen on the floor at the New York Stock Exchange (NYSE) in New York, U.S., April 8, 2019. REUTERS/Brendan McDermid

April 26, 2019

By Pushkala Aripaka and Ankur Banerjee

(Reuters) – AstraZeneca Plc beat first-quarter sales and earnings expectations on Friday as the British drugmaker benefited from a push into cancer drugs and emerging markets including China.

Newer treatments such as lung cancer drug Tagrisso, now the company’s top selling medicine, have helped the drugmaker’s return to growth after years of crumbling sales due to patent losses on older drugs.

Sales in China have shown explosive growth, more than doubling since 2012, but AstraZeneca executives on Friday said that may not be sustained.

“The enormous growth you currently see in China, 28 percent, probably is not sustainable, but we feel very bullish that the growth will continue to be at a pace of between 15 percent and 20 percent,” Ruud Dobber, executive vice president, BioPharma, told Reuters.

Shares of the company were down 0.2 percent at 5,878 pence at 1031 GMT.

The turnaround in AstraZeneca’s fortunes has been powered by a push into cancer treatments led by Chief Executive Pascal Soriot, who saw off a 2014 takeover bid from Pfizer in part by promising annual sales of $45 billion by 2023.

In the first quarter, sales from its oncology unit rose 59 percent to $1.89 billion, accounting for 35 percent of total product sales.

The company has moved deeper into cancer therapy market through wide-ranging deals, including those for immunotherapy and targeted therapy. Last month, it agreed a multi-billion dollar oncology deal with Japan’s Daiichi Sankyo Co Ltd.

Interactive graphic on AZN’s top 10 drugs by sales – https://tmsnrt.rs/2W5XIRX

“We’re reaching that point where after years of having to keep faith, we have actually got something tangible to believe in,” Hargreaves Lansdown analyst Nicholas Hyett said.

AstraZeneca also backed its annual sales and earnings forecast and said it has extensively prepared for UK’s anticipated exit from the European Union, even in the event of a no-deal exit.

The company has already spent more than 40 million pounds ($52 million) on Brexit preparations, including stockpiling six weeks’ worth of drugs in the UK and four weeks in continental Europe to guard against shortages.

AstraZeneca said product sales rose 14 percent at constant currency to $5.47 billion in the quarter, led by its lung cancer drug Tagrisso and respiratory treatment Pulmicort.

Interactive graphic on AZN’s quarterly oncology sales – https://tmsnrt.rs/2W9tbCD

China sales increased by 28 percent to $1.24 billion in the quarter, accounting for nearly a quarter of overall product sales.

Core earnings came in at 89 cents per share in the quarter. Analysts on average were expecting core earnings of 85 cents per share and product sales of $5.29 billion, according to a company provided consensus of 19 analysts.

(Reporting by Pushkala Aripaka and Ankur Banerjee in Bengaluru; Editing by Bernard Orr/Keith Weir)

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https://www.infowarsstore.com/dna-force-plus.html?ims=jbdoh&utm_campaign=IWL-DNAForcePlus-20%25off-Widget&utm_source=Infowars+Widget&utm_medium=Banner&utm_content=Widget-DNFP-20%25off

https://www.infowarsstore.com/dna-force-plus.html?ims=jbdoh&utm_campaign=IWL-DNAForcePlus-20%25off-Widget&utm_source=Infowars+Widget&utm_medium=Banner&utm_content=Widget-DNFP-20%25off

DNA Force Plus

149.95

119.96

DNA Force Plus is finally here! Now you can support optimal energy levels while adapting your body to handle the daily bombardment of toxins to overhaul your body’s cellular engines with a fan-favorite formula.

https://www.infowars.com/wp-content/uploads/2016/02/dna-210.jpg

https://www.infowarsstore.com/dna-force-plus.html?ims=jbdoh&utm_campaign=IWL-DNAForcePlus-20%25off-Widget&utm_source=Infowars+Widget&utm_medium=Banner&utm_content=Widget-DNFP-20%25off

https://www.infowarsstore.com/dna-force-plus.html?ims=jbdoh&utm_campaign=IWL-DNAForcePlus-20%25off-Widget&utm_source=Infowars+Widget&utm_medium=Banner&utm_content=Widget-DNFP-20%25off

DNA Force Plus

149.95

119.96

DNA Force Plus is finally here! Now you can support optimal energy levels while adapting your body to handle the daily bombardment of toxins to overhaul your body’s cellular engines with a fan-favorite formula.

https://www.infowars.com/wp-content/uploads/2016/02/dna-210.jpg

https://www.infowarsstore.com/dna-force-plus.html?ims=jbdoh&utm_campaign=IWL-DNAForcePlus-20%25off-Widget&utm_source=Infowars+Widget&utm_medium=Banner&utm_content=Widget-DNFP-20%25off

https://www.infowarsstore.com/dna-force-plus.html?ims=jbdoh&utm_campaign=IWL-DNAForcePlus-20%25off-Widget&utm_source=Infowars+Widget&utm_medium=Banner&utm_content=Widget-DNFP-20%25off

DNA Force Plus

149.95

119.96

DNA Force Plus is finally here! Now you can support optimal energy levels while adapting your body to handle the daily bombardment of toxins to overhaul your body’s cellular engines with a fan-favorite formula.

https://www.infowars.com/wp-content/uploads/2016/02/dna-210.jpg

https://www.infowarsstore.com/dna-force-plus.html?ims=jbdoh&utm_campaign=IWL-DNAForcePlus-20%25off-Widget&utm_source=Infowars+Widget&utm_medium=Banner&utm_content=Widget-DNFP-20%25off

https://www.infowarsstore.com/dna-force-plus.html?ims=jbdoh&utm_campaign=IWL-DNAForcePlus-20%25off-Widget&utm_source=Infowars+Widget&utm_medium=Banner&utm_content=Widget-DNFP-20%25off

DNA Force Plus

149.95

119.96

DNA Force Plus is finally here! Now you can support optimal energy levels while adapting your body to handle the daily bombardment of toxins to overhaul your body’s cellular engines with a fan-favorite formula.

https://www.infowars.com/wp-content/uploads/2016/02/dna-210.jpg

https://www.infowarsstore.com/dna-force-plus.html?ims=jbdoh&utm_campaign=IWL-DNAForcePlus-20%25off-Widget&utm_source=Infowars+Widget&utm_medium=Banner&utm_content=Widget-DNFP-20%25off

https://www.infowarsstore.com/dna-force-plus.html?ims=jbdoh&utm_campaign=IWL-DNAForcePlus-20%25off-Widget&utm_source=Infowars+Widget&utm_medium=Banner&utm_content=Widget-DNFP-20%25off

DNA Force Plus

149.95

119.96

DNA Force Plus is finally here! Now you can support optimal energy levels while adapting your body to handle the daily bombardment of toxins to overhaul your body’s cellular engines with a fan-favorite formula.

https://www.infowars.com/wp-content/uploads/2016/02/dna-210.jpg

https://www.infowarsstore.com/dna-force-plus.html?ims=jbdoh&utm_campaign=IWL-DNAForcePlus-20%25off-Widget&utm_source=Infowars+Widget&utm_medium=Banner&utm_content=Widget-DNFP-20%25off

https://www.infowarsstore.com/dna-force-plus.html?ims=jbdoh&utm_campaign=IWL-DNAForcePlus-20%25off-Widget&utm_source=Infowars+Widget&utm_medium=Banner&utm_content=Widget-DNFP-20%25off

Source: InfoWars

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