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Oil prices extend losses despite surprise drop in U.S. inventories

FILE PHOTO: A seagull flies in front of an oil platform in the Bouri Oilfield some 70 nautical miles north of the coast of Libya
FILE PHOTO: A seagull flies in front of an oil platform in the Bouri Oilfield some 70 nautical miles north of the coast of Libya, October 5, 2017. REUTERS/Darrin Zammit Lupi/File Photo

April 18, 2019

By Colin Packham

SYDNEY (Reuters) – Oil prices edged down on Thursday despite a surprise decline in U.S. inventories, with international benchmark Brent retreating from a five-month high touched in the previous session.

Brent crude futures were at $71.51 a barrel at 0056 GMT, down 11 cents, or 0.2 percent, from their last close. Brent fell 0.1 percent on Wednesday, after earlier touching its highest since Nov. 8 at $72.27 a barrel.

U.S. West Texas Intermediate (WTI) crude futures were at $63.67 per barrel, down 9 cents, or 0.1 percent, from their previous settlement. WTI closed the last session down 0.5 percent.

“Prices are soft despite a surprise drawdown in U.S. inventories,” ANZ Bank said in a research note.

U.S. crude inventories fell by 1.4 million barrels in the week to April 12, compared with analyst expectations for an increase of 1.7 million barrels.

Net U.S. crude imports last week dropped by 659,000 barrels per day (bpd).

(Reporting by Colin Packham; Editing by Joseph Radford)

Source: OANN

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Autonomous cars to quadruple vehicle software revenues to $1.2 trillion by 2030: Continental

FILE PHOTO: Elmar Degenhart, CEO of German tyre company Continental poses for the media before the annual news conference in Hanover
FILE PHOTO: Elmar Degenhart, CEO of German tyre company Continental poses for the media before the annual news conference in Hanover, Germany March 7, 2019. REUTERS/Fabian Bimmer/File Photo

April 2, 2019

STUTTGART (Reuters) – The need for advanced safety features in automated and autonomous cars will see vehicle software revenues more than quadruple to $1.2 trillion a year by 2030, the head of auto parts supplier Continental said on Tuesday.

Ensuring an autonomous car can avoid an accident will require it to process signals from radar, camera and laser sensors, leading to a massive increase in demand for sophisticated software, Elmar Degenhart, chief executive of Continental, one of the world’s biggest auto parts’ suppliers, said.

“Software competence is mission critical for successful car companies but the industry lacks scale in this competence,” Degenhart told the Auto Motor und Sport industry congress in Stuttgart, Germany on Tuesday.

Vehicle software currently generates annual revenues of $280 billion a year, he said.

The revenue growth potential and scarcity of software development skills at traditional car manufacturers makes technology companies outside the auto industry well placed to gain a foothold in the industry.

“Car companies are good at validation and homologation and lack software development skills, while software companies have the opposite problem,” Degenhart said.

“The IT industry has always valued speed of development more than perfecting the product, while the auto industry has tended to veer toward perfecting a product over rushing it out.”

Their approaches would become more aligned as the two industries cooperate more, he said.

“The software and the auto industry will have to work more closely together to develop autonomous vehicles and this will lead to a change in approach on both sides.”

Separately Continental said it is sticking to plans to prepare for a potential listing its powertrain division on the stock market this year.

(Reporting by Edward Taylor; Editing by Susan Fenton)

Source: OANN

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Hawk discovered in bathtub after flying through New Jersey bathroom window: police

A hawk took flight this week straight into a New Jersey home and wound up in an unusual place, police said.

Authorities responded to the scene after getting a call about “a bird that flew through a bathroom window into the home,” the Cranford Police said in a Facebook post on Wednesday.

CENTRAL PARK’S ‘HOT’ MANDARIN DUCK FACES COMPETITION FROM VIBRANT GREAT BLUE HERON

Some of the Van Hook family was home at the time of the intrusion and heard it unfold, WCBS-TV reported. Allison Van Hook told the outlet that her father discovered the bird in their bathtub.

Van Hook suspected the animal was going “after something” before the incident, telling WCBS-TV that it “came in through two panes of glass.”

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When police arrived, they too found the hawk “relaxing in the Jacuzzi,” their Facebook post said, which included photos of the bird, as well as the broken window.

Law enforcement managed to get the bird out of the house “and go back to a nearby tree,” they said.

Source: Fox News National

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Hewitt to replace Wimbledon chairman Brook in December

FILE PHOTO: Wimbledon Spring Press Conference 2016
FILE PHOTO: Tennis - Wimbledon Spring Press Conference 2016 - All England Lawn Tennis & Croquet Club, Wimbledon, England - 26/4/16 General view in the grounds of Wimbledon Action Images via Reuters / Andrew Boyers Livepic EDITORIAL USE ONLY./File Photo

March 9, 2019

(Reuters) – The All England Lawn Tennis and Croquet Club (AELTC) has said that Ian Hewitt will succeed chairman Philip Brook in December this year after being appointed vice chairman on Saturday.

Brook has been chairman of the AELTC, which hosts the annual Wimbledon Championships, for nine years and was involved in expanding the size of its grounds by the acquisition of the adjacent Wimbledon Park Golf Club in December last year.

Hewitt joined the club’s committee in 2002.

“Ian’s combination of business acumen and considerable experience serving on the AELTC Committee and as Chair of the Wimbledon Foundation ensures that he will provide the AELTC with strong leadership for the coming years,” Brook said in a statement.

“For now, we look ahead to continuing our planning for a successful Championships in 2019 and a seamless handover in December 2019.”

Wimbledon is the oldest tennis tournament in the world and this year’s Grand Slam begins on July 1.

(Reporting by Rohith Nair in Bengaluru; Editing by Christian Radnedge)

Source: OANN

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Rep. King: Dems’ Demand for Mueller Report Political Theater

Democrats calling for the release of special counsel Robert Mueller's full report now rather than waiting for the redacted version are engaging in "political theater," Rep. Pete King said Wednesday.

"[William Barr] has said he will release the report," the New York Republican told Fox News' "America's Newsroom." "He is doing his job now as attorney general to take out what he believes is any information in there which might be scandalous and not relevant or would violate grand jury rules. That report will be submitted."

If Democrats are dissatisfied at that time, they can take action, King said.

"We heard for two years, 'wait for the Mueller report,'" said King, but for Democrats to subpoena the report now is "unseemly and wrong and abuse of the power of Congress."

He added that nobody has questioned Barr's integrity until now, when "the Democrats didn't get what they wanted, and if Barr is subpoenaed to release the report, he should not comply.

King also discussed President Donald Trump's comments about shutting down the border, saying that if he takes that action, he hopes it is done "surgically."

"It could cause severe economic dislocation," said King. "It should be done in a way that will have the least impact on the United States economy."

Further, before he shuts down the border, everyone needs to be on Trump's side before he announces it, including members of Congress, but both sides are locked and "that is wrong," said King.

"I'm not that confident about Congress right now," said King. "Maybe this crisis will wake some people up."

Source: NewsMax Politics

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Woman and 5-year old boy die after falling from Miami high-rise

A woman and a 5-year-old child died after falling from at least the 20th floor of a Miami high-rise Monday night, officials say.

Miami Fire Rescue said they responded to a report of a possible "jumper” Monday night.

Authorities found the woman dead near the building, while the boy was unresponsive on a sixth-floor terrace and was rushed to Jackson Memorial Hospital’s Ryder Trauma Center in “extremely critical” condition. He was later pronounced dead.

FLORIDA WOMAN DISCOVERS SNAKE INSIDE DRYER, SAYS SHE 'NEVER RAN SO FAST IN MY LIFE'

Capt. Ignatius Carroll said they likely fell from at least the 20th floor.

Their names haven’t been released and it’s unclear what the relationship was between the pair. Police are investigating what lead to their deaths.

Fox News' Michael Sinkewicz and the Associated Press contributed to this report.

Source: Fox News National

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Records: Writer was near husband’s work at time of killing

Unsealed court documents say a self-published romance writer charged with killing her chef husband in Portland was seen near her husband's work around the time he was fatally shot there.

The Oregonian/OregonLive reports that despite telling police she was at home June 2, surveillance video captured Nancy Crampton Brophy driving her car near Daniel Brophy's work around the time he was shot, a probable cause affidavit shows.

The documents were unsealed Friday in Multnomah County Circuit Court, revealing new details months after authorities jailed the author of "How To Murder Your Husband" on suspicion of killing her husband.

The essay was published years before police found her husband dead. Prosecutors say Crampton Brophy fatally shot him.

She pleaded not guilty in September. An email to her lawyer wasn't immediately answered.

___

Information from: The Oregonian/OregonLive, http://www.oregonlive.com

Source: Fox News National

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An employee looks up at goods at the Miniclipper Logistics warehouse in Leighton Buzzard
FILE PHOTO: An employee looks up at goods at the Miniclipper Logistics warehouse in Leighton Buzzard, Britain December 3, 2018. REUTERS/Simon Dawson

April 26, 2019

LONDON, April 26 – British factories stockpiled raw materials and goods ahead of Brexit at the fastest pace since records began in the 1950s, and they were increasingly downbeat about their prospects, a survey showed on Friday.

The Confederation of British Industry’s (CBI) quarterly survey of the manufacturing industry showed expectations for export orders in the next three months fell to their lowest level since mid-2009, when Britain was reeling from the global financial crisis.

The record pace of stockpiling recorded by the CBI was mirrored by the closely-watched IHS Markit/CIPS purchasing managers’ index published earlier this month.

(Reporting by Andy Bruce, editing by David Milliken)

Source: OANN

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Malaysian Prime Minister Mahathir Mohamad speaks at the opening ceremony for the second Belt and Road Forum in Beijing
Malaysian Prime Minister Mahathir Mohamad speaks at the opening ceremony for the second Belt and Road Forum in Beijing, China April 26, 2019. REUTERS/Florence Lo

April 26, 2019

KUALA LUMPUR (Reuters) – Fewer than half of Malaysians approve of Prime Minister Mahathir Mohamad, an opinion poll showed on Friday, as concerns over rising costs and racial matters plague his administration nearly a year after taking office.

The survey, conducted in March by independent pollster Merdeka Center, showed that only 46 percent of voters surveyed were satisfied with Mahathir, a sharp drop from the 71 percent approval rating he received in August 2018.

Mahathir’s Pakatan Harapan coalition won a stunning election victory in May 2018, ending the previous government’s more than 60-year rule.

But his administration has since been criticized for failing to deliver on promised reforms and protecting the rights of majority ethnic Malay Muslims.

Of 1,204 survey respondents, 46 percent felt that the “country was headed in the wrong direction”, up from 24 percent in August 2018, the Merdeka Center said in a statement. Just 39 percent said they approved of the ruling government.

High living costs remained the top most concern among Malaysians, with just 40 percent satisfied with the government’s management of the economy, the survey showed.

It also showed mixed responses to Pakatan Harapan’s proposed reforms.

Some 69 percent opposed plans to abolish the death penalty, while respondents were sharply divided over proposals to lower the minimum voting age to 18, or to implement a sugar tax.

“In our opinion, the results appear to indicate a public that favors the status quo, and thus requires a robust and coordinated advocacy efforts in order to garner their acceptance of new measures,” Merdeka Center said.

The survey also found 23 percent of Malaysians were concerned over ethnic and religious matters.

Some groups representing Malays have expressed fear that affirmative-action policies favoring them in business, education and housing could be taken away and criticized the appointments of non-Muslims to key government posts.

Last November, the government reversed its pledge to ratify a UN convention against racial discrimination, after a backlash from Malay groups.

Earlier this month, Pakatan Harapan suffered its third successive loss in local elections since taking power, which has been seen as a further sign of waning public support.

Despite the decline, most Malaysians – 67 percent – agreed that Mahathir’s government should be given more time to fulfill its election promises, Merdeka Center said.

This included a majority of Malay voters who were largely more critical of the new administration, it added.

(Reporting by Rozanna Latiff; Editing by Nick Macfie)

Source: OANN

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The German share price index DAX graph at the stock exchange in Frankfurt
The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, April 25, 2019. REUTERS/Staff

April 26, 2019

By Medha Singh and Agamoni Ghosh

(Reuters) – European shares slipped on Friday after losses in heavyweight banks and Glencore outweighed gains in healthcare and auto stocks, while investors remained on the sidelines ahead of U.S. economic data for the first quarter.

The pan-European STOXX 600 index was down 0.1 percent by 0935 GMT, eyeing a modest loss at the end of a holiday-shortened week. Banks-heavy Italian and Spanish indices were laggards.

The banking index fell for a fourth day, at the end of a heavy earnings week for lenders.

Britain’s Royal Bank of Scotland tumbled after posting lower first quarter profit, hurt by intensifying competition and Brexit uncertainty, while its investment bank also registered poor returns.

Weakness in investment banking also dented Deutsche Bank’s quarterly trading revenue and sent its shares lower a day after the German bank abandoned merger talks with smaller rival Commerzbank.

“The current interest rate environment makes it challenging for banks to make proper earnings because of their intermediary function,” said Teeuwe Mevissen, senior market economist eurozone, at Rabobank.

Since the start of April, all country indexes were on pace to rise between 1.8 percent and 3.4 percent, their fourth month of gains, while Germany was strongly outperforming with 6 percent growth.

“For now the current sentiment is very cautious as markets wait for the first estimates of the U.S. GDP growth which could see a surprise,” Mevissen said.

U.S. economic data for the first-quarter is due at 1230 GMT. Growth worries outside the United States resurfaced this week after South Korea’s economy unexpectedly contracted at the start of the year and weak German business sentiment data for April also disappointed.

Among the biggest drags on the benchmark index in Europe were the basic resources sector and the oil and gas sector, weighed down by Britain’s Glencore and France’s Total, respectively.

Glencore dropped after reports that U.S authorities were investigating whether the company and its subsidiaries violated certain provisions of the commodity exchange act.

Energy major Total said its net profit for the first three months of the year fell compared with a year ago due to volatile oil prices and debt costs.

Chip stocks in the region including Siltronic, Ams and STMicroelectronics lost more than 1 percent after Intel Corp reduced its full-year revenue forecast, adding to concerns that an industry-wide slowdown could persist until the end of 2019.

Meanwhile, healthcare, which is also seen as a defensive sector, was a bright spot. It was helped by French drugmaker Sanofi after it returned to growth with higher profits and revenues for the first-quarter.

Luxembourg-based satellite operator SES led media stocks higher after it maintained its full-year outlook on the back of the company’s Networks division.

Automakers in the region rose 0.4 percent, led by Valeo’s 6 percent jump as the French parts maker said its performance would improve in the second half of the year.

Continental AG advanced after it backed its outlook for the year despite reporting a fall in first-quarter earnings.

Renault rose more than 3 percent as it clung to full-year targets and pursues merger talks with its Japanese partner Nissan.

(Reporting by Medha Singh and Agamoni Ghosh in Bengaluru; Editing by Gareth Jones and Elaine Hardcastle)

Source: OANN

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U.S. President Donald Trump hosts Take Our Daughters and Sons to Work Day at the White House in Washington
U.S. President Donald Trump gives a thumbs up to his audience as he hosts Take Our Daughters and Sons to Work Day at the White House in Washington, U.S., April 25, 2019. REUTERS/Kevin Lamarque

April 26, 2019

By Jan Wolfe and Richard Cowan

(Reuters) – The “i word” – impeachment – is swirling around the U.S. Congress since the release of Special Counsel Robert Mueller’s redacted Russia report, which painted a picture of lies, threats and confusion in Donald Trump’s White House.

Some Democrats say trying to remove Trump from office would be a waste of time because his fellow Republicans still have majority control of the Senate. Other Democrats argue they have a moral obligation at least to try to impeach, even though Mueller did not charge Trump with conspiring with Russia in the 2016 U.S. election or with obstruction of justice.

Whether or not the Democrats decide to go down this risky path, here is how the impeachment process works.

WHAT ARE GROUNDS FOR IMPEACHMENT?

The U.S. Constitution says the president can be removed from office by Congress for “treason, bribery, or other high crimes and misdemeanors.” Exactly what that means is unclear.

Before he became president in 1974, replacing Republican Richard Nixon who resigned over the Watergate scandal, Gerald Ford said: “An impeachable offense is whatever a majority of the House of Representatives considers it to be at a given moment in history.”

Frank Bowman, a University of Missouri law professor and author of a forthcoming book on the history of impeachment, said Congress could look beyond criminal laws in defining “high crimes and misdemeanors.” Historically, it can encompass corruption and other abuses, including trying to obstruct judicial proceedings.

HOW DOES IMPEACHMENT PLAY OUT?

The term impeachment is often interpreted as simply removing a president from office, but that is not strictly accurate.

Impeachment technically refers to the 435-member House of Representatives approving formal charges against a president.

The House effectively acts as accuser – voting on whether to bring specific charges. An impeachment resolution, known as “articles of impeachment,” is like an indictment in a criminal case. A simple majority vote is needed in the House to impeach.

The Senate then conducts a trial. House members act as the prosecutors, with senators as the jurors. The chief justice of the U.S. Supreme Court presides over the trial. A two-thirds majority vote is required in the 100-member Senate to convict and remove a president from office.

No president has ever been removed from office as a direct result of an impeachment and conviction by Congress.

Nixon quit in 1974 rather than face impeachment. Presidents Andrew Johnson in 1868 and Bill Clinton in 1998 were impeached by the House, but both stayed in office after the Senate acquitted them.

Obstruction of justice was one charge against Clinton, who faced allegations of lying under oath about his relationship with White House intern Monica Lewinsky. Obstruction was also included in the articles of impeachment against Nixon.

CAN THE SUPREME COURT OVERTURN?

No.

Trump said on Twitter on Wednesday that he would ask the Supreme Court to intervene if Democrats tried to impeach him. But America’s founders explicitly rejected making a Senate conviction appealable to the federal judiciary, Bowman said.

“They quite plainly decided this is a political process and it is ultimately a political judgment,” Bowman said.

“So when Trump suggests there is any judicial remedy for impeachment, he is just wrong.”

PROOF OF WRONGDOING?

In a typical criminal court case, jurors are told to convict only if there is “proof beyond a reasonable doubt,” a fairly stringent standard.

Impeachment proceedings are different. The House and Senate “can decide on whatever burden of proof they want,” Bowman said. “There is no agreement on what the burden should be.”

PARTY BREAKDOWN IN CONGRESS?

Right now, there are 235 Democrats, 197 Republicans and three vacancies in the House. As a result, the Democratic majority could vote to impeach Trump without any Republican votes.

In 1998, when Republicans had a House majority, the chamber voted largely along party lines to impeach Clinton, a Democrat.

The Senate now has 53 Republicans, 45 Democrats and two independents who usually vote with Democrats. Conviction and removal of a president would requires 67 votes. So that means for Trump to be impeached, at least 20 Republicans and all the Democrats and independents would have to vote against him.

WHO BECOMES PRESIDENT IF TRUMP IS REMOVED?

A Senate conviction removing Trump from office would elevate Vice President Mike Pence to the presidency to fill out Trump’s term, which ends on Jan. 20, 2021.

(Reporting by Jan Wolfe and Richard Cowan; Editing by Kevin Drawbaugh and Peter Cooney)

Source: OANN

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New England Patriots owner Robert Kraft attends a conference at the Cannes Lions Festival in Cannes
FILE PHOTO: New England Patriots owner Robert Kraft attends a conference at the Cannes Lions Festival in Cannes, France, June 23, 2017. REUTERS/Eric Gaillard

April 26, 2019

(Reuters) – New England Patriots owner Robert Kraft’s lawyers on Friday are set to ask a Florida judge to toss out hidden-camera videos that prosecutors say show the 77-year-old billionaire receiving sexual favors for money inside a Florida massage parlor.

The owner of the reigning Super Bowl champions plans wants the video to not be used as evidence against him as he contests two misdemeanor counts of soliciting prostitution at the Orchids of Asia Spa in Jupiter, Florida, along with some two dozen other men.

His legal team is fresh off a win on Tuesday, when they successfully persuaded Palm Beach County Judge Leonard Hanser to block prosecutors from releasing the hidden-camera footage to media outlets, which had requested copies under the state’s robust open records law.

Kraft, who has owned the franchise since 1994, pleaded not guilty, but has issued a public apology for his actions.

His attorneys have argued in court papers that the surreptitious videotaping of customers, including Kraft, inside a massage parlor was governmental overreach and the result of an illegally obtained search warrant.

The warrant, Kraft’s lawyers claim, was secured under false pretenses because police officers cited human trafficking as a potential crime in their application. Prosecutors have since acknowledged that the investigation yielded no evidence of trafficking.

Palm Beach County prosecutors in a court filing on Wednesday said Kraft’s motion should be rejected because he could not have had any expectation of privacy while visiting a commercial establishment to engage in criminal activity.

That prompted an indignant response from Kraft’s attorneys, who said the prosecution’s position on privacy was “unhinged.”

“It should go without saying that Mr. Kraft and everyone else in the United States have a reasonable expectation that the government will not secretly spy on them while they undress behind closed doors,” they wrote.

(Reporting by Joseph Ax, editing by G Crosse)

Source: OANN

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