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What happens if Mueller finds Trump fingerprints in Russia conspiracy?

FILE PHOTO: FBI Director Mueller testifies before the Senate Judiciary Committee on Capitol Hill
FILE PHOTO: Robert Mueller, as FBI director, testifies before the U.S. Senate Judiciary Committee on Capitol Hill in Washington. Sept. 16, 2009. REUTERS/Yuri Gripas/File Photo

February 25, 2019

By Nathan Layne

(Reuters) – Special Counsel Robert Mueller is preparing to submit to U.S. Attorney General William Barr a report detailing his findings in the investigation into Russia’s role in the 2016 presidential election and any links to the Trump campaign.

Mueller has been looking since May 2017 into whether U.S. President Donald Trump’s campaign conspired with Russia and whether Trump unlawfully sought to obstruct the probe. Mueller already has indicted or secured guilty pleas from 34 people, including six associates of Trump, as well as three Russian entities.

Here is a look at possible scenarios following the completion of Mueller’s report.

REPORT FINDS TRUMP INVOLVED IN RUSSIA CONSPIRACY

Among those who already have pleaded guilty or have been convicted are: former Trump campaign chairman Paul Manafort; former Trump personal lawyer Michael Cohen; former national security advisor Michael Flynn; and former Trump campaign aides Richard Gates and George Papadopoulos. Others indicted include Trump adviser Roger Stone and Russian intelligence officers.

But the central question is whether Mueller will find that Trump himself played a role in a conspiracy with Moscow to boost his chances of winning the election or committed obstruction of justice to try to impede the Russia probe. Trump has denied collusion and obstruction.

If Mueller’s report reveals a willingness by Trump to collude with Russia or contains evidence of direct coordination involving the Republican president, such findings could be the starting gun for the Democratic-led House of Representatives to launch the impeachment process set out in the U.S. Constitution to remove a president from office.

Current Justice Department policy opposes bringing criminal charges against a sitting president.

Stone’s indictment points to instances in which people connected to the campaign communicated with him about Wikileaks, the website that released emails that U.S. officials have said Russians stole from Democrats to harm Trump’s Democratic opponent Hillary Clinton. For example, after a July 2016 release of emails stolen from the Democratic National Committee a “senior Trump campaign official was directed to contact STONE about any additional releases” by Wikileaks, the indictment stated. The sentence’s wording left open the possibility that Trump himself directed the campaign official.

Sam Nunberg, a former Trump aide and Republican political consultant, said any evidence that Trump was willing to work with Moscow, even without proof that he actually did that, might be enough for Democrats to draw up articles of impeachment.

“That’s impeachable for the Democrats,” Nunberg said.

The U.S. Constitution sets specific grounds for impeachment: treason, bribery or “other high crimes and misdemeanors.” If the House approves any articles of impeachment, the Senate then would hold a trial to determine whether to remove the president from office. The Senate is controlled by Trump’s fellow Republicans. Only two presidents have been impeached in American history, and neither was removed.

There is also the issue of obstruction. Legal experts have pointed to Trump’s firing of former FBI director James Comey while he was leading the Russia probe, Comey’s allegation that Trump asked him to end the investigation of Flynn, and the president’s dangling a possible pardon to Manafort among other acts that may amount to obstruction of justice.

Barr, months before Trump named him as attorney general, last year wrote an unsolicited memo to the Justice Department arguing Mueller should not be permitted to investigate obstruction by the president.

NOBODY IN TRUMP CAMPAIGN IMPLICATED IN RUSSIA CONSPIRACY

Mueller’s cases against Manafort and Stone have come the closest to showing coordination between Trump’s campaign and Russia. Manafort shared election polling data with his Russian associate Konstantin Kilimnik, who prosecutors have said is tied to Russian intelligence. Manafort attended a June 2016 meeting at Trump Tower in New York with other campaign officials with a Russian lawyer who promised “dirt” on Clinton. Mueller also found that Stone communicated with Wikileaks and the Russian hacker dubbed Guccifer 2.0.

But Mueller’s evidence made public to date falls short of demonstrating Trump and his campaign colluded with Russia. Collusion is a non-legal term often used to describe acts that in a criminal context in this investigation likely would translate to a charge of conspiracy against the United States.

If Mueller’s report goes no further, it could set back any Democratic effort to impeach Trump. But House Democrats could proceed with their own investigations that could cause Trump ongoing political damage heading into his 2020 re-election bid.

“If nothing more comes out than what is public then I think Trump could claim victory,” said Nelson Cunningham, a former federal prosecutor in New York and White House lawyer under Democratic President Bill Clinton.

REPORT IMPLICATES OTHERS IN CONSPIRACY BUT NOT TRUMP

Transcripts of closed court hearings this month indicated Mueller considers Manafort’s alleged lies about his interactions with Kilimnik to be “at the heart” of the probe into possible collusion between Trump’s campaign and Russia.

But that disclosure suggested Mueller was still trying to determine whether collusion occurred. In addition to sharing polling data, court filings show, Manafort and Kilimnik discussed a “Ukrainian peace plan,” a reference to Kremlin-friendly proposals to resolve the Ukraine conflict and end U.S. sanctions on Russia.

It is possible Mueller’s report will show that Manafort or others in Trump’s orbit conspired with Russians but there was no credible evidence Trump himself was involved or aware. While politically damaging to Trump, such a finding may not be enough to trigger an impeachment effort, though it could fuel House committee investigations.

“It’s not enough to show the Russians used their people,” said Robert Ray, who served as the second independent counsel in the 1990s Whitewater probe involving the Clintons’ business dealings, adding there would need to be proof that Trump’s people actively colluded to the point that it violated the law.

“I don’t think it occurred,” Ray said.

(Reporting by Nathan Layne in New York; Additional reporting by David Morgan in Washington; Editing by Will Dunham)

Source: OANN

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Turkey: 9 detained in opposition leader’s assault at funeral

Turkey's interior minister says nine people have been detained in the assault of an opposition party leader, who was hit during a soldier's funeral.

Several protesters threw punches at Republican People's Party leader Kemal Kilicdaroglu at the funeral outside Ankara on Sunday. Kilicdaroglu was not injured.

Interior Minister Suleyman Soylu said Monday nine people were detained for questioning.

The soldier was killed Saturday in clashes with Kurdish rebels. Soylu appeared to justify Kilicdaroglu's assault by referring to the support a pro-Kurdish gave the opposition during Turkey's March 31 municipal elections.

Soylu said: "Everyone must take sides against the (rebels)."

The Republican People's Party won the mayoral elections in Ankara and Istanbul, supplanting President Recep Tayyip Erdogan's party.

Erdogan led a divisive campaign, equating opposition parties with terrorists.

Source: Fox News World

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Foxes and Hounds

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WASHINGTON -- Fox News reporter Peter Doocy trailed Rep. Ilhan Omar, D-Minn., as she walked through a Capitol hallway on Wednesday so that he could ask her: "Rep. Omar, there seems to be some confusion among your colleagues. Are you anti-Semitic?"

Rather than say "yes" or "no," Omar refused to respond, even as House Democrats were wrangling over a resolution condemning anti-Semitism that was drafted in response to Omar's comments about Israel supporters pushing "allegiance to a foreign country."

It was clear that Omar felt she had no responsibility to answer a question about a controversy that was roiling House Democrats.

That same day, Democratic National Committee Chairman Tom Perez released a statement to The Washington Post that said, "Fox News will not serve as a media partner for the 2020 Democratic primary debates."

Perez cited a New Yorker magazine article detailing incestuous ties between some Fox News biggies, notably Sean Hannity, and President Donald Trump as the impetus for his decision. But given that Democrats also barred Fox News from the party's 2016 debate roster, Perez seemed to be trolling for an excuse.

Think for a moment about the cheekiness of Perez making this announcement to The Washington Post, a preferred media outlet. Whenever Trump gives interviews to Fox News anchors, the press corps duly notes that Trump is limiting his favors to a friendly crowd.

But when Democrats hand a scoop to the Post: crickets.

Does anyone believe the New Yorker will run a story about the kissing cousins dynamic between the Democratic Party and The Washington Post?

That simply isn't done. By excluding Fox News from his party's debates, Perez was simply working to maintain the status quo for the mainstream media. Conservatives need not apply.

Likewise, President Barack Obama frequently lambasted Fox News and saw no reason to distinguish between Hannity and the network's diligent reporters.

The reason Perez excluded Fox News was to prevent the conservative outlet's anchors from asking questions that are less likely to be asked by talking heads inside the liberal media bubble.

Yes, left-leaning journalists ask pointed questions, but they tend to ask the same pointed questions that come from the same political instincts and the same college-educated urban mindset, with no understanding of how those outside their world regard them.

To Trump voters, they are not fearless professionals speaking truth to power, but a pack.

To Trump voters, Chris Wallace, Martha MacCallum and Bret Baier are real journalists who ask questions that matter to them.

I could go through the list of tough questions asked by Fox News reporters such as Megyn Kelly, who so infuriated Trump during the first GOP debate of the 2016 primary when she asked him about some of his nasty words for women he doesn't like.

In the New Yorker story, author Jane Mayer discredited that moment by reporting that anonymous sources "believe" that Roger Ailes, the late Fox News CEO, leaked the question to Trump ahead of the debate. If Ailes did so, that's inexcusable.

The standard conservative riposte would be to invoke former CNN contributor Donna Brazile's leaking of debate topics and questions to the Hillary Clinton campaign during the 2016 primary. She admits it, and it was inexcusable.

Let's just say that every news network has produced massive screwups worthy of undying shame and get on with the real outrage over the DNC's decision to ban Fox News from its roster.

It's a bald and probably successful play designed to notify every journalist to stick with the pack mentality -- because the Democratic National Committee gets to define good journalism.

COPYRIGHT 2019 CREATORS.COM

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Rep. Omar on Trump vs. Obama: Only One Is Human

Saying it was “silly” to compare President Donald Trump with former President Barack Obama, Rep. Ilhan Omar, D-Minn., maintained: “One is human. The other is really not.”

Her comments came during an exchange with a Fox News reporter, who had questioned her about remarks concerning Obama.

Politico had quoted Omar criticizing Obama. She had cited the “caging of kids” at the Mexico border and the “droning of counties around the world” during the former president’s watch.

“We can’t be only upset with Trump. … His policies are bad, but many of the people who came before him also had really bad policies.” Omar had said. “They just were more polished than he was.”

Source: NewsMax Politics

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Russia’s Gazprombank sells its indirect stake in Venezuelan venture: source

FILE PHOTO: Logo of Gazprombank is pictured at company's stand during St. Petersburg International Economic Forum 2016 in St. Petersburg
FILE PHOTO: The logo of Gazprombank is pictured at the company's stand during the St. Petersburg International Economic Forum 2016 (SPIEF 2016) in St. Petersburg, Russia, June 17, 2016. REUTERS/Sergei Karpukhin

March 14, 2019

By Tatiana Voronova

MOSCOW (Reuters) – Gazprombank, Russia’s third biggest lender by assets, has sold its indirect stake in the Petrozamora joint venture in Venezuela, a source at the bank said on Thursday.

Gazprombank, in a written reply to Reuters questions, confirmed it had quit the Petrozamora joint venture, but gave no further details. The venture’s majority owner, Venezuelan state oil firm PDVSA, is under U.S. sanctions. 

Gazprombank has a minority stake in a firm called GPB Global Resources which in turn owns 40 percent of Petrozamora, according to the GPB Global Resources website.

PDVSA owns the remaining 60 percent in Petrozamora, which was set up in 2012 initially to develop two Venezuelan oil fields, the website said. The number of fields has since increased.

“An indirect minority stake in Petrozamora JV was sold to a group of investors which have no connection to the Gazprombank group,” the source in the bank said. “As a result, Gazprombank now has no investment projects in Venezuela.”

The identity of the buyer was unknown. The source said that Gazprombank has sold its stake in GPB GR as well. GBP GR did not immediately reply to a Reuters request for a comment.

In November 2013, Gazprombank, GPB GR, Petrozamora and PDVSA signed an oil prepayment facility of up to $1 billion to finance the investment program and operational activity of Petrozamora JV. 

Russia is a major investor in Venezuela but this poses risks to Russian companies now that the United States has imposed sanctions on PDVSA and other entities linked to it. Some Russian firms are trying to reduce their exposure. 

Gazprombank decided to freeze the accounts of PDVSA and halted transactions with the firm, a Gazprombank source told Reuters last month.

Russia’s second biggest bank, VTB, has begun procedures to hand over its stake in a Russian-Venezuelan bank, Evrofinance Mosnarbank, to the Russian state property agency, sources familiar with the deal told Reuters this week.

The United States imposed tough, new financial sanctions on Jan. 28 aimed at blocking Venezuela’s President Nicolas Maduro’s access to the country’s oil revenue as its aimed to support Venezuelan opposition leader and self-proclaimed interim president Juan Guaido.

Russia’s Rosneft, the world’s top listed oil company by output which has lent billions of U.S. dollars to Venezuela in the past and has a number of upstream projects in the country, continues its operations and to receive oil from PDVSA.

According to lawyers and traders, the terms of the sanctions mean that Rosneft can continue its oil and oil product operations with PDVSA at least until April 28.

However, U.S. Secretary of State Mike Pompeo this week accused Rosneft of providing a financial lifeline to the administration of Venezuelan President Nicolas Maduro, who Washington says is no longer the legitimate head of state. 

(Reporting by Tatiana Voronova; Writing by Katya Golubkova; Editing by Alexandra Hudson)

Source: OANN

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Source: InfoWars

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How Australian abuse victim’s ‘powerful’ testimony sank top Vatican official

Cardinal George Pell arrives at the County Court in Melbourne, Australia
Cardinal George Pell arrives at the County Court in Melbourne, Australia February 26, 2019. AAP Image/Erik Anderson/via REUTERS

February 26, 2019

(Please note graphic detail in paragraph 4.)

By Sonali Paul

MELBOURNE (Reuters) – “Guilty.”

There was a gasp in the Australian courtroom as the jury foreman read out the first verdict on child sex offences against Cardinal George Pell, the Vatican’s treasurer, then stunned silence as the same word was repeated for each of the four other charges he faced.

The jury of eight men and four women unanimously agreed on Dec. 11, after a four-week trial, to convict Pell of five sexual offences committed against two 13-year-old choir boys 22 years earlier in the priests’ sacristy of Melbourne’s St Patrick’s Cathedral.

They reached their decision after hearing lengthy testimony from a victim, who described how Pell had exposed himself to them, fondled their genitals and masturbated and forced one boy to perform a sex act on him. That complainant still lives in Melbourne. The other victim died in 2014.

The trial and verdict could not be reported until now due to a court-imposed suppression order, as Pell was due to face another trial on older historical child sex offence charges and the judge did not want the next jury to be prejudiced. Those additional charges were dropped on Tuesday and the judge lifted the reporting restrictions.

Each of the five offences carries a maximum 10 years in jail. Pell is due to be sentenced in early March, following a mitigation plea hearing on Feb. 27.

Pell, a burly 1.9 meters (6 foot and 3 inches) tall, had sat hunched in the dock at the back of the courtroom throughout the trial. He stared straight ahead when the jury foreman said “guilty” for the first time, then turned away.

As the next four verdicts were delivered, the man described by his own lawyer as the “Darth Vader” of the Catholic Church sat with his head bowed.

Pell, the No. 3 official in the Vatican hierarchy, is the most senior Roman Catholic cleric worldwide to be convicted of such offences. His downfall brings to the heart of the papal administration a scandal over clerical abuse that has ravaged the Church’s credibility in the United States, Chile, Australia and elsewhere over the last three decades.

Pope Francis, leader of the world’s 1.2 billion Catholics, ended a conference on sexual abuse on Sunday, calling for an “all-out battle” against a crime that should be “erased from the face of the earth”. [nL5N20J0AF]

POWERPOINT DEFENSE

The December verdict followed a re-trial. Three months earlier, a first trial of the same offences had ended in a deadlocked jury that left some jurors in tears.

Pell’s lawyer Robert Richter, a theatrical 72-year-old well-known in Australia after taking on the defense in some of the country’s most high-profile criminal cases, had been confident since the pre-trial hearings that this time he had a slam dunk defense.

Late in proceedings at the re-trial, Richter introduced a new witness, a fellow criminal barrister and former altar server, who had a possible alibi for Pell. The witness said he had served at a mass in late 1996 and afterwards he and his mother had chatted with Pell on the front steps of the cathedral, which the defense said meant he could not have been in the sacristy at the time of the alleged offences.

But under cross-examination, the former altar server could not remember the exact date, and his recall of other details was vague and partly contradicted another defense witness.

Richter brought out Pell’s heavy ceremonial robes, trying to demonstrate they could hardly be maneuvered to expose himself to the boys as the prosecution had alleged.

He had his star witness, a priest who had helped Pell conduct services, demonstrate how elaborately and tightly knotted the robe was around the archbishop’s waist.

There was also debate over whether the wine that the boys were caught swigging in the sacristy by Pell immediately before four of the offences took place was red, as the accuser said, or white, as the court heard was preferred by the dean of the cathedral at the time, as the defense tried to pick holes in the victim’s account.

For his closing argument, Richter rolled out a PowerPoint presentation with dozens of bullet points spelling out why, he said, it would have been almost impossible for the alleged events to have occurred.

He reminded the jury of Pell’s strenuous denials.

“What a load of absolute disgraceful rubbish. Completely false. Madness,” the jury heard Pell tell police in a recording of an interview in a hotel room near Rome airport in 2016 played earlier in the trial.

“You could scarcely imagine a place that was more unlikely for committing pedophilia crimes than the sacristy of the Cathedral after mass,” Pell, who did not testify at either trial, said in the recording.

CLOSED DOOR TESTIMONY

The jury was unswayed, returning a verdict of guilty on all five charges after hearing a prosecution case based entirely on the evidence given by Pell’s surviving accuser.

That testimony was the crux of both trials.

Reporters, Pell’s supporters and abuse survivors who had filled the small court for most of the trial did not see or hear the complainant’s two-and-a-half days of testimony and cross-examination by Richter, which was conducted by video link for the jury behind closed doors. It was later outlined to the court in comments by the prosecutor.

In his closing argument to the jury, prosecutor Mark Gibson, in a quiet voice, called the accuser’s evidence “powerful and persuasive”.

“He was not a person indulging in fantasy or imagining things to the point where he now believed his own imaginative mind, but was simply telling it as it was and is,” Gibson told the court.

Pell had appeared relaxed through most of his trial. Every day he sat in the dock, usually wearing a white shirt with a clerical collar, black pants and a beige jacket, writing on a large notepad and taking occasional sips of water. During breaks in proceedings he would chat with supporters.

But in the nine months since pre-trial hearings began, Pell’s health had clearly deteriorated.

Judge Peter Kidd extended bail after Pell was convicted so he could have double knee surgery in Sydney on Dec. 14, which had been postponed after the first trial.

Pell’s lawyers will now be counting on an appeal filed last week to keep him out of jail.

(Reporting by Sonali Paul; Editing by Alex Richardson)

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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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)

Source: OANN

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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)

Source: OANN

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Source: InfoWars

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