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Fiat Chrysler revs up as Peugeot points to merger potential

Fiat Chrysler Automobiles logo is seen on a panel at the media center in Balocco
FILE PHOTO: Fiat Chrysler Automobiles logo is seen on a panel at the media center in Balocco, Italy, June 1, 2018. REUTERS/Massimo Pinca

March 19, 2019

LONDON (Reuters) – Fiat Chrysler shares jumped on Tuesday to the top of Europe’s STOXX 600 after the president of Peugeot family holding company FFP told French daily Les Echos he would support a new deal and suggested Fiat Chrysler was among the options.

“With them, as with others, the planets could be aligned,” Robert Peugeot was reported as saying, asked about targets for acquisitions or mergers.

Fiat Chrysler (FCA) declined to comment.

Shares in the Italian-American carmaker were up 5.2 percent by 1050 GMT, while Peugeot gained 2.7 percent, helping boost Europe’s autos index which was up 2.5 percent.

Peugeot’s remarks came on the heels of reports the group’s CEO Carlos Tavares is open to deals and that Fiat, General Motors, and Jaguar Land Rover could be ideal partners.

FCA’s new boss Mike Manley, who took over after deal-making guru Sergio Marchionne died last year, said this month the carmaker was open to pursuing alliances and merger opportunities if they make sense and strengthen its future.

FCA is often cited as a possible merger candidate because of its strong exposure to the North American market, where it generates the lion’s share of profits, and because of its popular Jeep, RAM and Maserati brands.

“PSA is essentially an EU pure play as things stand (roughly 90 percent of consolidated unit sales in EU) so an acquisition of a company with a broader reach would make strategic sense,” said Evercore ISI analyst Arndt Ellinghorst.

Investors and analysts alike were wary of betting on an imminent deal, though, mindful of potential antitrust obstacles.

“Although we believe that some M&A could materialize in the automotive sector, we do not expect it in the short term,” said Mediobanca Securities analyst Andrea Balloni.

(Reporting by Helen Reid, Danilo Masoni, Agnieszka Flak; Editing by Keith Weir)

Source: OANN

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Source: InfoWars

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China defense budget likely to defy slowing economy due to Taiwan worries

Soldiers carry a PLA flag and Chinese national flags before the military parade to commemorate the 90th anniversary of the foundation of China's People's Liberation Army (PLA) at Zhurihe military base in Inner Mongolia Autonomous Region
FILE PHOTO: Soldiers carry a PLA flag and Chinese national flags before the military parade to commemorate the 90th anniversary of the foundation of China's People's Liberation Army (PLA) at Zhurihe military base in Inner Mongolia Autonomous Region, China, July 30, 2017. REUTERS/Stringer

February 25, 2019

By Ben Blanchard

BEIJING (Reuters) – A slowing economy is unlikely to crimp China’s 2019 defense budget rise, as Beijing earmarks more spending for modernization and big-ticket items like stealth jets, and focuses on Taiwan after a stern new year’s speech from President Xi Jinping.

The defense spending figure is closely watched worldwide for clues to China’s strategic intentions as it develops new military capabilities, including aircraft carriers and anti-satellite missiles.

In 2018, China unveiled its largest defense spending increase in three years, setting an 8.1 percent growth target for the year, fuelling an ambitious military upgrade program and making its neighbors nervous.

The 2019 number should be revealed at the March 5 opening of the annual session of the country’s largely rubber-stamp parliament, though in 2017 it was initially not announced, prompting renewed concerns about transparency.

China plans to set a lower economic growth target of 6-6.5 percent in 2019 compared with last year’s target of around 6.5 percent, policy sources have told Reuters. The government will also announced the economic growth target on March 5.

But the defense budget increase could well surpass that.

Influential state-run tabloid the Global Times, which takes a strongly nationalistic line, this month cited an unnamed military expert as saying “a stable 8-9 percent increase from 2018 would be a reasonable prediction”.

China still has a long way to go to catch Western forces, as the number of advanced weapons now in its arsenal, like the J-20 stealth fighter, remain limited, the paper said.

Xie Yue, a professor of political science at Tongji University in Shanghai and a security expert, said with a weakening economy there would naturally be an expectation for a slower increase in military spending.

“It should go down, as the defense budget is connected to economic growth, but certainly factors will probably mean it will still go up, like the South China Sea and Taiwan issues.”

Xi’s January speech threatening to attack Taiwan should it not accept Chinese rule has shot the issue back up the agenda for the country’s military thinkers, especially as the island gears up for presidential elections next year.

“The Taiwan question can’t keep being put of, passed down through the generations,” retired Chinese Major-General Luo Yuan, one of the country’s most prominent and widely read military commentators, wrote on his blog last month.

“Our generation must complete our historic mission.”

One source with ties to China’s military said the armed forces were itching for a fight over self-ruled Taiwan, claimed by China as its sacred territory, especially after Xi’s speech.

“Every day, they’re like ‘fight, fight, fight,'” said the source, who meets regularly with senior officers.

Taiwan President Tsai Ing-wen has repeatedly warned of the threat from China, and vowed to defend the island and its democratic way of life. The United States has said it is closely watching Chinese intentions toward Taiwan.

“Even with just a broom, I would fight against China,” Taiwan Premier Su Tseng-chang told parliament last week. “You would pay a price if you want to annex Taiwan.”

‘CHINA GETTING STRONG’

In 2018, China unveiled its largest defense spending increase in three years, setting an 8.1 percent growth target for the year.

China’s Defence Ministry did not respond to a request for comment on this year’s military budget. China routinely says spending is for defensive purposes only, comparatively small and that critics just want to keep the country down.

“What people are scared of is China getting strong,” said Xu Guangyu, a senior consultant at the China Arm Control and Disarmament Association and another former senior Chinese officer, dismissing concerns about defense spending.

U.S. President Donald Trump has backed plans to request $750 billion from Congress for defense spending in 2019. That compares with the 1.11 trillion yuan ($165.40 billion) China set for its military budget in 2018.

China provides no breakdown of its defense budget, leading neighbors and other military powers to complain that Beijing’s lack of transparency has added to regional tension. China says it is fully transparent and no threat.

Diplomats and many foreign experts say China’s defense numbers probably underestimate true military spending for the People’s Liberation Army, the world’s largest armed forces, which also runs the country’s space program.

(Reporting by Ben Blanchard; Additional reporting by Gao Liangping, and Yimou Lee in TAIPEI; Editing by Michael Perry)

Source: OANN

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Ethiopian Airlines passenger jet crashes with more than 150 aboard, reports say

Ethiopian Airlines said early Sunday that one of its passenger jets has crashed, with 149 passengers and eight crew members aboard, according to reports.

“It is confirmed it happened at 8:44 a.m.,” an airline spokesman said, according to Reuters.

PLANE CRASH IN COLOMBIA KILLS 14, OFFICIALS SAY

The flight had left Addis Ababa, the Ethiopian capital, and was bound for Nairobi, Kenya, reports said. But the exact location and circumstances of the crash weren’t immediately known.

The office of Ethiopian Prime Minister Abiy Ahmed tweeted a message offering condolences, suggesting there were few, if any, survivors.

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“The office of the PM, on behalf of government and people of Ethiopia, would like to express its deepest condolences to the families that have lost their loved ones on Ethiopian Airlines Boeing 737 on regular scheduled flight to Nairobi, Kenya this morning,” the message said.

The jet was reportedly a Boeing 737.

This is a developing story. Check back for updates.

Source: Fox News World

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Brazil offers loans to placate truckers, stays silent on diesel prices

Meeting of the LIDE (Businessmen Leaders Group) in Campos do Jordao
FILE PHOTO: Brazil's Infrastructure Minister Tarcisio Freitas is pictured during a meeting of the LIDE (Businessmen Leaders Group) in Campos do Jordao, Brazil, April 5, 2019. REUTERS/Amanda Perobelli

April 16, 2019

BRASILIA (Reuters) – Brazil’s government pledged 500 million reais ($129 million) of loans from a state bank for independent truckers on Tuesday, amid other measures designed to avoid a threatened strike.

At a news conference, presidential Chief of Staff Onyx Lorenzoni and Infrastructure Minister Tarcisio Freitas announced the concessions to truckers angry about high diesel prices, but remained mum on any possible changes to Petroleo Brasileiro SA’s fuel pricing policy. A Tuesday afternoon meeting with President Jair Bolsonaro will deal with the thornier issue of diesel pricing at Petrobras, as the state-run oil firm is known.

(Reporting by Ricardo Brito; Writing by Gram Slattery)

Source: OANN

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Democrats drop lawsuit against former acting attorney general

FILE PHOTO: Acting U.S. Attorney General Whitaker testifies before House Judiciary Committee oversight hearing on Capitol Hill in Washington
FILE PHOTO: Acting U.S. Attorney General Matthew Whitaker testifies before a House Judiciary Committee hearing on oversight of the Justice Department on Capitol Hill in Washington, U.S., Feb. 8, 2019. REUTERS/Jonathan Ernst/File Photo

February 19, 2019

By Andy Sullivan

WASHINGTON (Reuters) – Three Democratic U.S. senators on Tuesday dropped a lawsuit that challenged the appointment of former acting attorney general Matthew Whitaker, who stepped down from his post last week when the Senate confirmed William Barr to the position.

Senators Richard Blumenthal, Sheldon Whitehouse and Mazie Hirono had sought to bar Whitaker from serving as attorney general, arguing that President Donald Trump violated the U.S. Constitution in November by depriving the Senate of its power to act on such appointments.

They also argued that Trump violated a federal law that establishes the line of succession at the Justice Department, arguing that Deputy Attorney General Rod Rosenstein should have taken over when Trump fired Jeff Sessions on Nov. 7.

Democrats have expressed concern that Whitaker could undermine Special Counsel Robert Mueller’s investigation into whether the Trump campaign worked with Russia to win the 2016 election. Whitaker told the U.S. House Judiciary Committee this month he did nothing to affect the probe one way or another.

Whitaker remains at the Justice Department for now, serving as an adviser to the Associate Attorney General, the Justice Department’s No. 3 post, which is currently being filled on a temporary basis by Jesse Panuccio.

But his battles with Democrats may not be over. House Judiciary Committee Chairman Jerry Nadler has accused Whitaker of giving incomplete and contradictory testimony and has threatened to subpoena him for a closed-door follow-up session.

(Reporting by Andy Sullivan in Washington; Editing by James Dalgleish)

Source: OANN

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House Dems Working on Solution to SALT Cap

Democrats on the House Ways and Means Committee will meet Wednesday to discuss ways of resolving issues raised in high-tax states regarding the $10,000 cap on state and local tax deductions that was included in the 2017 tax cuts law.

Rep. Richard Neal, D-Mass., is the committee chairman and spoke about a new working group during a markup session Tuesday.

"Members of our committee that are interested in solving this challenge" would be included in the working group, Neal said.

"We know that the limitation on the SALT deduction is an important issue that the committee perhaps can address in this Congress."

The Hill reported on Neal's remarks.

The GOP's 2017 tax cuts law, which was passed and signed into law shortly before Christmas that year, included a maximum $10,000 deduction for state and local taxes. Lawmakers in high-tax states such as New York and New Jersey took issue with the directive, and President Donald Trump said in February he is open to changing the cap.

It was reported last month, meanwhile, that tax revenue for states fell by an average of 2% over the past three months of 2018.

Source: NewsMax America

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FILE PHOTO: Small toy figures are seen in front of a displayed Huawei and 5G network logo in this illustration picture
FILE PHOTO: Small toy figures are seen in front of a displayed Huawei and 5G network logo in this illustration picture, March 30, 2019. REUTERS/Dado Ruvic

April 26, 2019

By Charlotte Greenfield

WELLINGTON (Reuters) – China’s Huawei Technologies said Britain’s decision to allow the firm a restricted role in building parts of its next-generation telecoms network was the kind of solution it was hoping for in New Zealand, where it has been blocked from 5G plans.

Britain will ban Huawei from all core parts of 5G network but give it some access to non-core parts, sources have told Reuters, as it seeks a middle way in a bitter U.S.-China dispute stemming from American allegations that Huawei’s equipment could be used by Beijing for espionage.

Washington has also urged its allies to ban Huawei from building 5G networks, even as the Chinese company, the world’s top producer of telecoms equipment, has repeatedly said the spying concerns are unfounded.

In New Zealand, a member of the Five Eyes intelligence sharing network that includes the United States, the Government Communications Security Bureau (GCSB) in November turned down an initial request from local telecommunication firm Spark to include Huawei equipment in its 5G network, but later gave the operator options to mitigate national security concerns.

“The proposed solution in the UK to restrict Huawei from bidding for the core is exactly the type of solution we have been looking at in New Zealand,” Andrew Bowater, deputy CEO of Huawei’s New Zealand arm, said in an emailed statement.

Spark said it has noted the developments in Britain and would raise it with the GCSB.

The reports “suggest the UK is following other European jurisdictions in taking a considered and balanced approach to managing supplier-related security risks in 5G”, Andrew Pirie, Spark’s corporate relations lead, said in an email.

“Our discussions with the GCSB are ongoing and we expect that the UK developments will be a further item of discussion between us,” Pirie added.

New Zealand’s minister for intelligence services, Andrew Little, did not immediately respond to a request for comment.

British culture minister Jeremy Wright said on Thursday that he would report to parliament the conclusions of a government review of the 5G supply chain once they had been taken.

He added that the disclosure of confidential discussions on the role of Huawei was “unacceptable” and that he could not rule out a criminal investigation into the leak.

The decisions by Britain and Germany to use Huawei gear in non-core parts of 5G network makes it harder to prove Huawei should be kept out of New Zealand telecommunication networks, said Syed Faraz Hasan, an expert in communication engineering and networks at New Zealand’s Massey University

He pointed out Huawei gear was already part of the non-core 4G networks that 5G infrastructure would be built on.

“Unless there is a convincing argument against the Huawei devices … it is difficult to keep them away,” Hasan said.

(Reporting by Charlotte Greenfield; Editing by Himani Sarkar)

Source: OANN

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FILE PHOTO: The logo commodities trader Glencore is pictured in Baar
FILE PHOTO: The logo of commodities trader Glencore is pictured in front of the company’s headquarters in Baar, Switzerland, July 18, 2017. REUTERS/Arnd Wiegmann

April 26, 2019

(Reuters) – Glencore shares plunged the most in nearly four months on Friday after news overnight that U.S. regulators were investigating whether the miner broke some rules through “corrupt practices”.

Shares of the FTSE 100 company fell as much as 4.2 percent in early deals, and were down 3.5 percent at 310.25 pence by 0728 GMT.

On Thursday, Glencore said the U.S. Commodity Futures Trading Commission is investigating whether the company and its units have violated some provisions of the Commodity ExchangeAct and/or CFTC Regulations.

(Reporting by Muvija M in Bengaluru)

Source: OANN

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Well, Joe Biden didn’t exactly clear the field.

I don’t think it matters much that Biden waited until yesterday to become the 20th Democrat vying for the nomination, even though it exposed him to weeks of attacks while he seemed to be dithering on the sidelines.

A much greater warning sign, in my view, is the largely negative tone surrounding his debut. He is, after all, a former vice president, highly praised by Barack Obama, who has consistently led in the early primary polls, and beating President Trump in head-to-head matchups. Yet much of the press is acting like he’s an old codger and it’s just a matter of time before he keels over politically.

This is all the more remarkable in light of the fact that the vast majority of journalists and pundits know and like Joe Biden and his gregarious personality.

The reason is that Biden, after a half-century in politics, lacks excitement, and the press is magnetically attracted to novel and unorthodox types like Beto and Mayor Pete. You don’t see Biden on the cover of Vanity Fair, and a grind-it-out win by a conventional warrior doesn’t set journalistic hearts racing.

JOE BIDEN ANNOUNCES 2020 PRESIDENTIAL BID: 3 THINGS TO KNOW ABOUT THE FORMER VICE PRESIDENT

For many in the media, Biden isn’t liberal enough, at least not for the post-Obama era. He doesn’t promise free college and free health care and has a history of working with Republicans, such as John McCain (whose daughter Meghan loves him, and Biden will hit “The View” today.)

What’s more, Biden’s campaign style — speak at rallies, rack up union endorsements — seems hopelessly old-fashioned when we measure popularity by Instagram followers. News outlets are predicting he’ll have trouble getting in the online fundraising game, leaving him reliant on big donors, which used to be standard practice.

And then there’s the age thing. Biden would be the oldest president to be inaugurated, at 78, and he looked a step slow in encounters with reporters yesterday and a few weeks ago.

But what if the journalists are in something of a Twitter bubble, and the actual Democratic Party is much more moderate? We saw that with the spate of allegations by women of unwanted touching, which dominated news coverage until polls showed that most Dem voters weren’t concerned. In that wider world, the Scranton guy’s connection to white, working-class voters could help him against Trump in the industrial Midwest.

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Biden denounced the president’s term as an “aberrant moment” in his launch video, saying four more years would damage the country’s character and “I cannot stand by and watch that happen.”

But first, he’d have to win the nomination in the face of an unenthusiastic press corps.

A New York Times news story said Biden would be “marshaling his experience and global stature in a bid to lead a party increasingly defined by a younger generation that might be skeptical of his age and ideological moderation.”

The Washington Post quoted Democratic strategists as saying that Biden faces an “uphill battle” and “isn’t necessarily the heir apparent to Obama, despite being his No. 2 in the White House for eight years. They argue voters will judge Biden by the span of his decades-long career and are worried the veteran pol hasn’t yet found a winning formula for his own candidacy.”

The liberal Slate said the ex-veep’s rivals view him as a “paper tiger”:

“Biden is something more like a 2016 Jeb Bush: a weak establishment favorite whose time might be past … Biden’s biggest challenge in the primary will be a compromised past spanning nearly 50 years.”

“Compromised” suggests a history of scandal, yet what Slate means is political baggage, such as his backing of a Clinton-era crime bill unpopular with black voters today. Yet I think the rank and file isn’t as concerned about a vote back in 1994, or even the Anita Hill hearings, as the chattering classes.

BIDEN’S SENATE RECORD, ADVOCACY OF 1994 CRIME BILL WILL BE USED AGAINST HIM, EX-SANDERS STAFFER SAYS

One of the few left-leaning pundits to suggest the press is underestimating Biden is data guru Nate Silver at 538:

“Media coverage could nonetheless be a problem for Biden. Within the mainstream media, the story of Biden winning the nomination will be seen as boring and anticlimactic. That tends not to lead to favorable coverage. Meanwhile, some left-aligned media outlets may prefer candidates who are some combination of more leftist, more wonkish, more reflective of the party’s diversity, and more adept on social media.

“If Biden is framed as being out of touch with today’s Democratic Party and that narrative is repeated across a variety of outlets, it could begin to resonate with voters who don’t buy it initially. If he’s seen as a gaffe-prone candidate, then minor missteps on the campaign trail could be blown up into big fumbles.”

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Look, it’s entirely possible that Biden could stumble, get lapped in fundraising and just be outclassed by younger and savvier rivals. He was hardly a great candidate in 1987 and in 2008.

But if the former vice president finds his footing and the field narrows, the press will be forced to change its tune, and we’ll see a spate of stories about how Joe Biden has “grown.”

Source: Fox News Politics

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South Africa's 400m Olympic gold medallist and world record holder Wayde van Niekerk looks on as he attends South African Championships in Germiston
South Africa’s 400m Olympic gold medallist and world record holder Wayde van Niekerk looks on as he attends South African Championships in Germiston, South Africa, April 25, 2019. REUTERS/Siphiwe Sibeko

April 26, 2019

GERMISTON, South Africa (Reuters) – Olympic 400 meters champion Wayde van Niekerk has backed South African compatriot Caster Semenya in her battle with the International Association of Athletics Federations (IAAF), which now appears to have taken a new twist.

Semenya, a double 800 meters Olympic gold medalist, is waiting for the outcome of her appeal to the Court of Arbitration for Sport (CAS) to halt the introduction of new regulations by governing body IAAF that would require her to take medicine to limit her natural levels of testosterone.

The IAAF wants female athletes with differences of sexual development who run in events from 400 meters to a mile, to reduce their blood testosterone level to below five (5) nmol/L for a period of six months before they can compete, saying they have an unfair advantage.

“She’s fighting for something beyond just track and field, she’s fighting for woman in sports, in society and I respect her for that,” Van Niekerk told reporters.

“I will support her and with the hard work and talent that she’s been putting into the sport. With what she believes in and what she’s dreaming for, I’ve got a lot of respect for her.

“I really hope and pray that everything just goes from strength to strength for her.”

Semenya has sprung a surprise at the on-going South African Athletics Championships though, ditching the 800 meters and instead competing over 1,500 and 5,000-metres – the latter one would not require her to medically lower her testosterone level.

She stormed to victory in the 5,000-metres final in a modest time of 16:05.97, but looked to have lots left in the tank as she passed the finish line.

Semenya beat fellow Olympian and defending national 5,000m champion Dominique Scott in Thursday’s final but the latter admitted she is unsure whether the 800m specialist could be a serious Olympic contender over the longer distance.

“Honestly‚ I have no idea‚” Scott said. “Before today I probably would have said no. It’s hard to compare a 5,000 at altitude to a 5,000 at sea level.

“But I think she’s an amazing runner and I don’t think there’s any limit or ceiling on what she can do.”

Van Niekerk, the 400m world record holder, had to abort his comeback from a knee injury, that had sidelined him for 18 months, following a combination of cold weather and a wet track.

“We are trying to take the correct decisions now early in the year so as not to put myself in any harm,” he said.

“It was a bit chilly this entire week prepping and coming through here as well it was quite cold and it caused bit of tightness in my leg. We decided to not risk it.

“My recovery is going well and I would like to be back in competition this year, but will only do so if I can deliver a good performance.

“I am a competitor and respect my opponents, so I need to be at my best when I return.”

(Reporting by Nick Said, additional reporting by Siyabonga Sishi; editing by Sudipto Ganguly)

Source: OANN

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The suspected leader of the Easter Sunday bombings in Sri Lanka died in the Shangri-La hotel, one of six hotels and churches targeted in the attacks that killed at least 250 people, authorities said.

Police said Mohamed Zahran, leader of the National Towheed Jamaat militant group, had been killed in one of the bombings. The group’s second in command was also arrested, police said.

Zahran amassed an online following for his hate-filled sermons. Some were delivered before a banner depicting the Twin Towers.

Sri Lankan authorities said Friday that Islamic cleric Mohammed Zahran died in the blast at the Shangri-La hotel during the Easter Sunday atatcks that killed at least 250 people. 

Sri Lankan authorities said Friday that Islamic cleric Mohammed Zahran died in the blast at the Shangri-La hotel during the Easter Sunday atatcks that killed at least 250 people.  (YouTube)

Australian Prime Minister Scott Morrison said Friday that the attackers responsible for the bombings were supported by the Islamic State group. Around 140 people in Sri Lanka had connections to ISIS, Sri Lankan President Maithripala Sirisena said.

“We will completely control this and create a free and peaceful environment for people to live,” he said.

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Investigators determined the attackers received military training from someone called “Army Mohideen.” They also received weapons training overseas and at some locations in Sri Lanka, according to authorities.

A copper factory operator arrested in connection with the bombings helped Mohideen make improvised explosive devices, police said. The bombings have led to increased security throughout the island nation as authorities warned of another attack.

Source: Fox News World

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