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Bayer shares slide after latest Roundup cancer ruling

FILE PHOTO: Monsanto's Roundup weedkiller atomizers are displayed for sale at a garden shop near Brussels
FILE PHOTO: Monsanto's Roundup weedkiller atomizers are displayed for sale at a garden shop near Brussels, Belgium November 27, 2017. REUTERS/Yves Herman/File Photo

March 20, 2019

FRANKFURT (Reuters) – Shares in Germany’s Bayer’s fell more than 12 percent on Wednesday after a second U.S. jury ruled its Roundup weed killer caused cancer.

Tuesday’s unanimous jury decision in San Francisco federal court was not a finding of Bayer’s liability for the cancer of plaintiff Edwin Hardeman. Liability and damages will be decided by the same jury in a second trial phase beginning on Wednesday.

Bayer, which denies allegations that glyphosate or Roundup cause cancer, said it was disappointed with the jury’s initial decision. Bayer acquired Monsanto, the longtime maker of Roundup, for $63 billion last year.

Bayer shares were 12.5 percent lower at 1110 GMT, the biggest intraday loss in 16 years, wiping some 8 billion euros ($9.1 billion) off its valuation.

“This looks like 2-0 plaintiffs, and clearly not helpful for the overall payout calculus and resolution of the litigation,” said Bernstein analyst Gunther Zechmann.

Glyphosate is the world’s most widely used weed killer. Monsanto’s Roundup was the first glyphosate-based weed killer but is no longer patent-protected and many other versions are now available. Bayer does not provide sales figures for the product.

“We are confident the evidence in phase two will show that Monsanto’s conduct has been appropriate and the company should not be liable for Mr. Hardeman’s cancer,” the company said.

The case was only the second of some 11,200 Roundup lawsuits to go to trial in the United States. Another California man was awarded $289 million in August after a state court jury found Roundup caused his cancer. That award was later reduced to $78 million and is on appeal.

UNDER PRESSURE

Baader Helvea analyst Markus Mayer noted that Bayer management announced ambitious targets in December.

“(It) is now under pressure to deliver and trying to avoid becoming a target for activist or strategic buyers.”

Activist investor Elliott already holds a stake of less than 3 percent in Bayer, Reuters disclosed last year.

Brokerage Warburg lowered its recommendation to “Hold” from “Buy”, arguing that the with the renewed setback upcoming glyphosate court cases would remain a drag on the share price.

Bayer had claimed that jury was overly influenced by plaintiffs’ lawyers allegations of corporate misconduct and did not focus on the science.

U.S. District Judge Vince Chhabria called such evidence “a distraction” from the scientific question of whether glyphosate causes cancer. He split the Hardeman case into two phases: one to decide causation, the other to determine Bayer’s potential liability and damages.

Under Chhabria’s order, the second phase would only take place if the jury found Roundup to be a substantial factor in causing Hardeman’s non-Hodgkin’s lymphoma. The jury found that it was on Tuesday.

Union Investment fund manager Markus Manns cautioned that it was too early to read anything into individual rulings in courts of first instance.

“What will be important for Bayer is the outcome of the appeals hearings,” he told Reuters, adding that Bayer should not yet engage in settlement talks.

Chhabria has scheduled another bellwether trial for May and a third trial is likely to take place this year. All three cases will be split into causation and liability phases.

The U.S. Environmental Protection Agency, the European Chemicals Agency and other regulators have found that glyphosate is not likely carcinogenic to humans. But the World Health Organization’s cancer arm in 2015 reached a different conclusion, classifying glyphosate as “probably carcinogenic to humans.”

(Reporting by Jim Christie in San Francisco; Additional reporting by Tina Bellon in New York, Patricia Gugau in Frankfurt; Writing by Tina Bellon and Arno Schuetze; Editing by Bill Berkrot and Keith Weir)

Source: OANN

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2 tied to charity-gone-wrong story arrive in Baltimore

A man who garnered sympathy and media attention after maintaining that a panhandler killed his wife has been returned to Baltimore, along with his daughter, to face murder charges.

Baltimore police say 52-year-old Keith Smith and his 28-year-old daughter Valeria Smith, both of Baltimore, arrived from Texas early Thursday and were booked on first-degree murder charges. Bail hearings were to be held later in the day.

The suspects are charged in the death of 54-year-old Jacquelyn Smith, who was married to Keith Smith. She was fatally stabbed in December.

Keith Smith has said his wife was attacked after handing $10 to a roadside panhandler. But police say he concocted that story.

The two suspects were arrested March 5 in Texas during what police call a desperate dash for Mexico.

Source: Fox News National

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Trump Campaign Announces Michigan Rally on March 28

President Donald Trump's re-election campaign has announced he's holding a rally in Michigan at the end of the month.

The announcement came shortly after Trump vetoed a congressional measure blocking his declaration of a national emergency at the Mexican border.

The campaign says the rally is set for the Van Andel Arena in Grand Rapids, Michigan, on March 28.

Trump narrowly won the Midwest state's 16 electoral votes in the 2016 presidential election.

The president recently declared a national emergency at the border in order to claim federal funding to build a wall there and fulfill a signature promise of his original campaign.

Both the House and Senate voted to block the declaration, but Trump vetoed that measure Friday. It was the first veto of his presidency.

Source: NewsMax Politics

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Playboy model, 25, arrested in death of California psychiatrist, 71, found in trunk of car

A 25-year-old Las Vegas woman has been arrested in California, charged in the murder of a 71-year-old child psychiatrist who was found bludgeoned to death in the trunk of a car in Nevada earlier this month, authorities said Thursday.

Kelsey Turner was taken into custody March 21 in Stockton in connection with the death of Dr. Thomas Burchard, of Salinas, Calif., Las Vegas Metropolitan Police said.

CALIFORNIA PSYCHIATRIST'S BODY FOUND IN TRUNK OF CAR, DIED OF BLUNT-FORCE INJURY, POLICE SAY

Turner was arrested by Las Vegas detectives and the Stockton FBI task force, FOX5 Las Vegas reported. Further details on her arrest or how police identified Turner as a suspect in Burchard’s death weren’t immediately available.

Her name and photo matched those that appeared on a Facebook profile that described the woman as a model who posed for racy photos, including some posted on Playboy's Italian-language website, the Californian of Salinas reported.

Kelsey Turner, 25, was arrested in California for the murder of Thomas Burchard, a 71-year-old psychiatrist, whose body was found bludgeoned to death earlier this month in the trunk of a car in Nevada, authorities said Thursday.

Kelsey Turner, 25, was arrested in California for the murder of Thomas Burchard, a 71-year-old psychiatrist, whose body was found bludgeoned to death earlier this month in the trunk of a car in Nevada, authorities said Thursday. (Las Vegas Metropolitan Police Department)

Social media profiles for a Kelsey Turner identify her as a model living in Las Vegas, the Las Vegas Review-Journal reported. But property records obtained by the paper indicate Turner also had addresses in Arizona and California, including Salinas, about 130 miles from Stockton.

Burchard’s body was discovered March 7 in a desert area near the entrance to the Lake Mead National Recreational Area. His body was found after a passerby noticed a rock had been thrown through one of the vehicle's windows, police said. It was not immediately clear who owned the car.

5 CHARGED AFTER PREGNANT CALIFORNIA SCHOOL TEACHER REPEATEDLY STABBED, CARJACKED

Authorities determined Burchard died from blunt force injury to the head. His death was ruled a homicide.

Burchard, who chose not to retire at 65 because he couldn’t bear to leave his patients, had worked nearly four decades in the behavioral health program with Montage Health, the Review-Journal reported.

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"Dr. Burchard was a psychiatrist in our behavioral health program for almost 40 years and was very helpful to many patients," Montage Health spokeswoman Mary Barker said. "It’s a very sad situation and our hearts go out to his family, friends, patients, and colleagues. We are notifying his patients and providing grief counseling for staff."

Turner was being held in the San Joaquin County Jail without bail as she awaits extradition to face a murder charge in Las Vegas.

Source: Fox News National

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Iran says oil market supply/demand balance is fragile

FILE PHOTO: Iran's Oil Minister Zanganeh talks to journalists at the beginning of an OPEC meeting in Vienna
FILE PHOTO: Iran's Oil Minister Bijan Zanganeh talks to journalists at the beginning of an OPEC meeting in Vienna, Austria December 6, 2018. REUTERS/Leonhard Foeger/File Photo

April 1, 2019

LONDON (Reuters) – The balance between supply and demand in the oil market is fragile, Iranian Oil Minister Bijan Zanganeh said on Monday, as he called on crude producers to be wary of troubles caused by U.S. sanctions.

Oil prices are being supported by U.S. sanctions on Iran and Venezuela along with voluntary supply cuts by the Organization of the Petroleum Exporting Countries and other major producers.

“Oil market is in a fragile situation considering the supply and demand balance, so the oil producers should be wary of any trouble in the oil market, especially due to U.S. measures against big oil producers,” Zanganeh was quoted as saying by state news agency IRNA upon his arrival in Moscow.

Zanganeh was traveling to Moscow to discuss the oil market with his Russian counterpart Russian Energy Minister Alexander Novak.

“Russia is one of the biggest oil producers in the world, and we are in a situation that we thought it is necessary to discuss the oil market with our Russian friends,” Zanganeh said.

The U.S. reimposed sanctions on Tehran in November after pulling out of a 2015 nuclear accord between Iran and six world powers. Those sanctions have already halved Iranian oil exports.

The United States is likely to renew waivers to sanctions for most countries buying Iranian crude, including the biggest buyers China and India, in exchange for pledges to cut combined imports to below 1 million barrels per day.

U.S. President Donald Trump eventually aims to halt Iranian oil exports and thereby choke off Tehran’s main source of revenue. Washington is pressuring Iran to curtail its nuclear program and stop backing militant proxies across the Middle East.

(Reporting by Bozorgmehr Sharafedin, editing by Louise Heavens and Jane Merriman)

Source: OANN

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Venezuela pledges to honor oil commitments to Cuba despite sanctions

FILE PHOTO - Venezuela's Foreign Affairs Minister Jorge Arreaza talks to the media during a news conference in Caracas
FILE PHOTO - Venezuela's Foreign Affairs Minister Jorge Arreaza talks to the media during a news conference in Caracas, Venezuela April 8, 2019. REUTERS/Manaure Quintero

April 8, 2019

CARACAS (Reuters) – Venezuela will “fulfill its commitments” to Cuba despite United States sanctions targeting oil shipments from the South American country to its ideological ally, Foreign Minister Jorge Arreaza said on Monday.

Washington on Friday imposed sanctions on 34 vessels owned or operated by state-run oil company Petroleos de Venezuela as well as on two companies and a vessel that have previously delivered oil to Cuba, aiming to choke off a crucial supply of crude to the Communist-run island.

Venezuela has long sent subsidized crude to Cuba. The United States describes the arrangement as an “oil-for-repression” scheme in which Havana helps socialist President Nicolas Maduro weather an economic crisis and power struggle with the opposition in exchange for fuel.

Arreaza said he would not reveal Venezuela’s “strategy,” but that the sanctions would not stop the shipments.

“When the conventional power of capitalism attacks you, you have to know how to respond through non-conventional means, always respecting international law,” Arreaza told reporters.

Friday’s measure came after broader sanctions Washington had slapped on PDVSA in January as part of its bid to oust Maduro.

The United States, along with most Western nations, recognizes Juan Guaido, the leader of the opposition-controlled National Assembly, as Venezuela’s rightful leader. Guaido invoked the country’s constitution to assume an interim presidency in January, arguing Maduro’s May 2018 re-election was a sham.

The opposition last month ordered an end to oil shipments to Cuba, but PDVSA – controlled by military officers loyal to Maduro – has continued the exports.

The most recent fuel shipment to Cuba left Venezuela’s Jose port on April 4, carrying liquefied petroleum gas, according to Refinitiv Eikon data. In the second half of March, two tankers carrying crude and two tankers carrying refined products left for Cuba.

The only tanker sanctioned on Friday, the Despina Andrianna, is currently returning to Jose after unloading crude at Cuba’s Cienfuegos refinery in March. Another three vessels are waiting off Venezuela to load with shipments destined for Cuba.

(Reporting by Vivian Sequera; Additional reporting by Marianna Parraga in Mexico City; Writing by Luc Cohen; editing by Bill Berkrot)

Source: OANN

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Norway’s justice minister takes leave after partner arrested

FILE PHOTO: Norwegian Justice Minister Tor Mikkel Wara (2nd R) chats with Norwegian and German military officers in Fredrikstad
FILE PHOTO: Norwegian Justice Minister Tor Mikkel Wara (2nd R) chats with Norwegian and German military officers in Fredrikstad, Norway, September 7, 2018. REUTERS/Gwladys Fouche/File Photo

March 14, 2019

OSLO (Reuters) – Norway’s justice minister will take a leave of absence following the arrest on Thursday of his partner, Prime Minister Erna Solberg said on Thursday.

Laila Anita Bertheussen, 54, was detained for questioning earlier in the day on suspicion that she set fire to the family’s car on March 10, Norway’s security police (PST) said.

The house and car shared by Justice Minister Tor Mikkel Wara and Bertheussen have been vandalized at least five times in recent months, prompting criticism of the police for not being able to resolve the case so far.

“This information came as a shock to me and to the entire government,” Prime Minister Erna Solberg said of the arrest. “This is a tragedy for Wara and his family.”

Police will investigate whether Bertheussen was involved in any of the earlier incidents, PST chief Benedicte Bjoernland said. “It’s too early to speculate on motives,” she added.

(Reporting by Terje Solsvik; Editing by Mark Heinrich)

Source: OANN

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Britain's Chancellor of the Exchequer Philip Hammond looks on during an interview with Reuters at the British Ambassador's residence in Beijing
Britain’s Chancellor of the Exchequer Philip Hammond looks on during an interview with Reuters at the British Ambassador’s residence in Beijing, China April 26, 2019. REUTERS/Florence Lo/Pool

April 26, 2019

BEIJING (Reuters) – British finance minister Philip Hammond said on Friday that he had a “very constructive meeting” with his counterpart in the opposition Labour Party before leaving for Beijing and that he was optimistic about finding common ground.

Hammond, speaking on the sidelines of a summit on China’s Belt and Road initiative in Beijing, said talks with Labour aimed at finding a way forward on Brexit had not stalled.

“I’m optimistic that we will find common ground,” he said. “Both sides have got clear positions and both sides will have to compromise in order to reach an agreement.”

Hammond added that he absolutely did not favor a no deal exit from the European Union.

(Reporting by Ben Blanchard; editing by Darren Schuettler)

Source: OANN

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Police secure the area where the body of a woman was discovered near the village of Orounta
Police secure the area where the body of a woman was discovered near the village of Orounta, Cyprus, April 25, 2019. REUTERS/Stefanos Kouratzis

April 26, 2019

NICOSIA (Reuters) – Cypriot police searched on Friday for more victims of a suspected serial killer, in a case which has shocked the Mediterranean island and exposed the authorities to charges of “criminal indifference” because the dead women were foreigners.

The main opposition party, the left-wing AKEL, called for the resignation of Cyprus’s justice minister and police chief.

Police were combing three different locations west of the capital Nicosia for victims of the suspected killer, a 35-year-old army officer who has been in detention for a week.

The bodies of three women, including two thought to be from the Philippines, have been recovered. Police sources said the suspect had indicated the location of the third body, found on Thursday, and had said the person was “either Indian or Nepali”.

Police said they were searching for a further four people, including two children, based on the suspect’s testimony.

“These women came here to earn a living, to help their families. They lived away from their families. And the earth swallowed them, nobody was interested,” AKEL lawmaker Irene Charalambides told Reuters.

“This killer will be judged by the court but the other big question is the criminal indifference shown by the others when the reports first surfaced. I believe, as does my party, that the justice minister and the police chief should resign. They are irrevocably exposed.”

Police have said they will investigate any perceived shortcomings in their handling of the case.

One person who did attempt to alert the authorities over the disappearances, a 70-year-old Cypriot citizen, said his motives were questioned by police.

The bodies of the two Filipino women reported missing in May and August 2018 were found in an abandoned mine shaft this month. Police discovered the body of the third woman at an army firing range about 14 km (9 miles) from the mine shaft.

Police are now searching for the six-year-old daughter of the first victim found, a Romanian mother who disappeared with her eight-year-old child in 2016, and a woman from the Phillipines who vanished in Dec. 2017.

The suspect has not been publicly named, in line with Cypriot legal practice.

A public vigil for the missing was planned later on Friday.

(Reporting By Michele Kambas; Editing by Gareth Jones)

Source: OANN

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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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