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The Latest: French leader vows to rebuild damaged Notre Dame

The Latest on a fire at Notre Dame Cathedral in Paris (all times local):

11:35 p.m.

French President Emmanuel Macron has promised to rebuild Notre Dame Cathedral and says he is seeking international help to restore the Paris landmark.

Macron said after the French capital's fire chief announced the emergency response had changed into a monitoring and mop-up operation, "The worst has been avoided although the battle is not yet totally won."

Macron said a national fundraising campaign to restore Notre Dame would be launched Tuesday and he called on the world's "greatest talents" to help.

The French leader credited the "courage" and "great professionalism" of firefighters with sparing Notre Dame's facade and two landmark towers from being destroyed.

___

11:15 p.m.

The Paris prosecutors' office says investigators are treating the blaze that destroyed part of Notre Dame as an accident for now.

The prosecutors' office said late Monday they have ruled out arson in Monday's fire, including possible terror-related motives for starting the blaze.

Prosecutors say Paris police will conduct an investigation into "involuntary destruction caused by fire."

___

11:05 p.m.

A French official and the Paris fire chief say they think Notre Dame Cathedral's landmark rectangular towers have been saved from the fire that caused horrific damage.

Junior Interior Minister Laurent Nunez said late Monday that authorities remain "prudent" but are "much more optimistic" than earlier in the night.

Paris fire commander Jean-Claude Gallet said a major accomplishment of hundreds of firefighters was stopping the flames from spreading to the north tower belfry.

Gallet says two-thirds of Notre Dame's roofing "has been ravaged." He says one firefighter was injured.

He says fire crews will keep working overnight to cool down the structure.

___

10:50 p.m.

The mayor of Paris says people who live near Notre Dame Cathedral have been evacuated in preparation for the burning structure's possible collapse.

But Mayor Anne Hidalgo said late Monday that firefighters were optimistic they could keep the towers that bookend the famous cathedral from going up in flames.

The fire chief in Paris went even further, saying his crews managed to stop the flames from reaching the belfry and prevented a catastrophic collapse.

Gallet says one firefighter was injured.

Hildago says the significant collection art work and holy objects kept inside the church has been recovered.

___

10:30 p.m.

Parisians have gathered to say prayers and sing hymns In front of the nearby Saint Julien Les Pauvres church as the massive blaze at Notre Dame Cathedral burns only a few hundred meters away.

Flames and smoke rose in the sky behind the singers. A couple hundred people kneeling in prayer at the center of a larger group, who are standing around the edge and joining in the hymns between the prayers.

Paris archbishop Michel Aupetit is inviting priests across France to ring the bells of their churches in a call for prayers for Notre Dame.

Aupetit is at the cathedral and will meet with French President Emmanuel Macron later Monday night.

___

10:20 p.m.

An official from the French Interior Ministry says 400 firefighters are at the scene of the fire but might they not be able to save Notre Dame Cathedral in Paris.

Laurent Nunez, speaking to reporters at the scene, says the devastating fire is not limited yet to a certain area and might continue to expand. He says cause of fire at the cathedral is unknown.

___

10:05 p.m.

A group of Americans from Maine had just finished visiting Notre Dame Cathedral and were in a nearby park when they heard it was on fire.

Freeport resident Lucy Soule, 22, said it was "weird" having been in the church right before this happened. "Now you can smell it burning."

Soule and her father, Win Soule, 58, and Libby Heselton, 53, are on a weeklong trip to Paris where they planned to "see all the sights" and had just finished their visit to Notre Dame. They had been in the cathedral at 5:30 p.m., about an hour before the fire.

Win told The Associated Press "Now I feel sorry for the people tomorrow. They won't be able to see it."

He says "it's incredible. I'm not religious, but this is clearly very important to a lot of people."

___

9:50 p.m.

The fire chief in Paris says it's unclear if city firefighters will be able to keep a fire at Notre Dame from spreading and causing more destruction.

Fire Chief Jean-Claude Gallet said outside the iconic cathedral as his crews battled the blaze from both the exterior and interior: "We are not sure we are capable of stopping the spreading" to Notre Dame's second tower and belfry.

Gallet said: "If it collapses, you can imagine how important the damage will be."

Flames already have reached one of Notre Dame's towers and brought down the church spire that extended 96-meters-high (315-feet.

___

9:40 p.m.

The Vatican has issued a statement about the "terrible fire" that has "devastated" Notre Dame Cathedral in Paris.

The Vatican said: "The Holy See has seen with shock and sadness the news of the terrible fire that has devastated the Cathedral of Notre Dame, symbol of Christianity in France and in the world."

The statement says the Vatican is praying for firefighters "and those who are doing everything possible to confront this dramatic situation" on Monday.

It also expressed "our closeness to French Catholics and the population of Paris, and we assure our prayers for firefighters

___

9:05 p.m.

French President Emmanuel Macron is treating the fire gutting Notre Dame Cathedral as a national emergency.

Macron reached the landmark cathedral on Monday evening and went straight into meetings at the nearby Paris police headquarters.

France's civil security agency says "all means" except for water-dropping aircraft were deployed to tackle the blaze.

The defense agency said those were unsuitable for fires like the one at Notre Dame because dumping water on the building could cause the whole structure to collapse.

___

9:00 p.m.

The mammoth fire that destroyed the spire of Notre Dame Cathedral has spread to one of the church's landmark rectangular towers.

An Associated Press reporter at the scene of Monday's fire in Paris watched the flames blazing behind an oblong stained-glass window in the tower.

Paris police say fighters are inside the cathedral working to put the flames out while others work from the exterior. Red smoke is pouring out of the cathedral.

A Notre Dame spokesman said earlier that the church's entire wooden interior was in flames.

French President Emmanuel Macron has arrived at Notre Dame.

___

8:35 p.m.

French writer and historian Camille Pascal says a massive fire at Notre Dame Cathedral has caused "the destruction of invaluable heritage" and "we can be only horrified by what we see."

Pascal told French broadcaster BFMTV: "It's been 800 years that the Cathedral watches over Paris" and its bells pealed for both "happy and unfortunate events."

He recalled that Notre Dame's bells sounded a death knell after the November 2015 terror attacks in Paris.

Authorities are investigating if renovation work on the cathedral's fire was a factor in starting or spreading the fire.

On Thursday, 16 religious statues were removed from the peak for the first time in over a century to be taken for cleaning and therefore escaped the blaze.

___

8:30 p.m.

French President Emmanuel Macron says the fire consuming Notre Dame Cathedral is taking part of everyone in France with it.

Macron tweeted after the blaze broke out in the cathedral's spire on Monday he was sad to see "a part of us being on fire."

He extended "thoughts for all the Catholics and all the French."

His administration says Macron is heading to Notre Dame.

___

8:20 p.m.

The deputy mayor of Paris says Notre Dame Cathedral has suffered "colossal damages" from a fire that started in the spire and caused it to collapse.

Speaking to BFMTV, Deputy Mayor Emmanuel Gregoire said first responders now trying to salvage the art and other priceless pieces stored in the cathedral.

A cathedral spokesman has said the entire wooden interior of the Notre Dame is burning and likely to be destroyed.

___

8:15 p.m.

U.S. President Donald Trump has tweeted about the fire engulfing Paris' iconic Notre Dame Cathedral.

Trump wrote on Twitter after the fire broke out Monday: "So horrible to watch the massive fire at Notre Dame Cathedral in Paris" and made suggestions for how first responders should tackle it.

He said: "Perhaps flying water tankers could be used to put it out," adding: "Must act quickly!"

Firefighters were trying to contain the fire when the cathedral's spire collapsed. Authorities say the wooden interior now is burning.

___

8:05 p.m.

The soaring spire of Notre Dame Cathedral in Paris has collapsed in flames, and a church spokesman says the entire wooden interior of the 12th century landmark is burning and likely to be destroyed.

A massive fire engulfed the roof of the cathedral in the heart of the French capital on Monday afternoon as Parisians watched in horror.

Notre Dame spokesman Andre Finot told French media: "Everything is burning, nothing will remain from the frame."

The cathedral is home to incalculable works of art and is one of the world's most famous tourist attractions.

The cause of the blaze isn't yet known, but scaffolding could be seen on the roof of the burning structure. The spire was undergoing renovation.

___

7:55 p.m.

Police in Paris say the cause of the massive fire enveloping the spire of Notre Dame Cathedral isn't yet known.

The French capital's police department said no deaths have been reported from Monday's fire. The police department didn't say anything about injuries.

The peak of the 12th century cathedral is undergoing a 6 million-euro ($6.8 million) renovation project.

French media quoted the Paris fire brigade saying the fire is "potentially linked" to the renovation work.

Located on the Ile de la Cite in the center of Paris, the Gothic cathedral is among the most famous from the Middle Ages and was built on the ruins of two earlier churches.

___

7:45 p.m.

French President Emmanuel Macron has postponed a televised speech to the nation because of a massive fire enveloping the top of Notre Dame Cathedral in Paris.

Flames are shooting out of the roof behind the nave of the 12th cathedral, one of the world's most visited landmarks.

The sight stopped pedestrians in their tracks along the Seine River, which passes under the cathedral.

Authorities said the fire could be linked to renovation work. It's unclear if anyone has been hurt in the fire.

Macron's pre-recorded speech was set to be aired later Monday on French TV. Macron was expected to lay out his plan to address the citizen complaints that gave rise to the yellow vest protests that have rocked France since November.

___

7:35 p.m.

Paris Mayor Anne Hidalgo says firefighters are trying to contain a "terrible fire" at the city's Notre Cathedral.

An AP reporter at the scene of Monday's fire says the roof at the back of the cathedral, behind the nave, is in flames and yellow-brown smoke and ash fill the sky.

Hidalgo urged residents of the French capital to stay away from the security perimeter around the Gothic-style church. The mayor says city officials are in touch with Roman Catholic diocese in Paris.

___

7:30 p.m.

Firefighters are battling a massive blaze at the French capital's iconic Notre Dame Cathedral.

Flames and black smoke were seen shooting from the base of the medieval church's spire on Monday.

The peak of the church is undergoing a 6 million-euro ($6.8 million) renovation project.

French media quoted the Paris fire brigade saying the fire is "potentially linked" to the renovation work.

Source: Fox News World

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Bernie Sanders acknowledges ‘serious problem’ at the border, demands ‘sensible immigration reform’

As President Donald Trump's proposal to send illegal immigrants to sanctuary cities increasingly faces backlash from Democrats, Sen. Bernie Sanders admits there's a "serious problem" at the border.

"The problem right now is that we are now seeing desperate people fleeing violence and misery in Honduras, El Salvador and Guatemala. With little children walking 1,000 miles," the 2020 presidential hopeful explained during Fox News' town hall Monday night, claiming they're not "trying to sneak in" but rather simply seeking asylum in the U.S.

In order to accommodate an "overflowing" immigration system, Sanders said we need "sensible immigration reform." According to the Vermont senator, that includes recruiting hundreds of judges to help deal with these issues.

BERNIE SANDERS BLASTS CRITICS CLAIMING HE'S 'TOO OLD' TO RUN: 'FOLLOW ME AROUND THE CAMPAIGN TRAIL'

"You need to have many, many more judges to expedite the process," said Sanders, adding that he would look into tweaking asylum laws though he didn't elaborate.

"We don't need to demonize immigrants," Sanders added, as the audience clapped in support.

An influx of asylum requests from immigrants facing deportation has overwhelmed U.S. courts in recent months and denial of the requests does little to keep illegal immigrants out, according to federal statistics.

Migrants are entitled under both U.S. and international law to apply for asylum. But there already is a bottleneck of would-be asylum seekers waiting at some U.S. border crossings to make their claims, some waiting as long as five weeks. For others, the process could even take years.

BERNIE SANDERS CALLS ON TRUMP TO RELEASE TAX RETURNS DURING FOX NEWS TOWN HALL

"The reality is that most people in the caravan will not be found qualified for asylum, and many of them know it. Others are encouraged to, but likely their claims will not pass muster, especially under new guidance from Jeff Sessions, to get back to a stricter adherence to the law," Jessica Vaughan, director of policy studies for the Center for Immigration Studies — a Washington, D.C.- based research institution, previously told Fox News.

As U.S. officials work on assisting migrants, Sanders suggested building proper facilities on the border for them to stay in for the time being.

"What we need is comprehensive immigration reform," Sanders said.

"We need to provide legal status to those people ... We need the proper legal process at the border so that these issues can be adjudicated to determine whether or not people should be entitled to asylum," he continued, adding that we need border security.

However, Sanders said he believes there are more "cost effective" ways to do that than building a wall, as Trump has proposed.

Source: Fox News Politics

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Dershowitz: Mueller Report Sets Up Comey-Clinton Situation

Special counsel Robert Mueller's conclusion there was no collusion between the Russian government and President Donald Trump's campaign – while referring the question of criminal charges of obstruction of justice to Attorney General William Barr – is a setup for another James Comey-Hillary Clinton situation, Harvard Law professor Alan Dershowitz said Monday.

"[Former FBI Director] Comey said on the one hand, I'm not going to indict Clinton," Dershowitz told Fox News' "Fox & Friends." "On the other hand, [Comey said] what she did was terrible. So, the Democrats got something out of it. The Republicans got something out of it. The same thing is true here."

Meanwhile, Mueller wanted to "hedge his bets" and that is not what a prosecutor should do, Dershowitz said.

"They are supposed to decide up or down, indict or not indict, and then shut up," he said. "That's it. Move on."

Deputy Attorney General Rod Rosenstein should not be making any decision on whether obstruction of justice occurred in connection with Comey's firing, Dershowitz said, because he has his own interests in play because he was involved.

There is no case for obstruction to be made against Trump, he added, because "you can't obstruct justice if you engage in your constitutionally authorized acts, firing, pardoning, helping the Justice Department make decisions. That should have been the end of the inquiry."

Dershowitz also said he thinks the media owes the American public an apology for engaging in "advocacy journalism" while reporting on the president and the Mueller probe.

Source: NewsMax America

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Manafort faces up to 10 years in sentencing before Judge Amy Berman Jackson

Former Trump campaign chairman Paul Manafort on Wednesday faces his second federal sentencing this month, as Special Counsel Robert Mueller pushes for him to receive 10 additional years in prison on top of the 47-month term issued less than a week ago by Virginia Judge T.S. Ellis.

Two key questions remained lingering and unanswered in the hours leading up to the hearing. First: will Obama-appointed Washington, D.C. Judge Amy Berman Jackson allow Manafort to serve whatever sentence she gives him concurrently with that 47-month term -- a move that Mueller's prosecutors haven't outwardly resisted, and that Manafort's team argues is the most legally sound approach?

And second: Will President Trump, who has long characterized Mueller's Russia probe as a partisan "witch hunt" that unfairly has ensnared his onetime campaign manager, eventually issue a pardon or commutation regardless of what Jackson does? ("Why would I take [a pardon] off the table?" Trump asked last year.)

Mueller, in court documents, has stopped short of recommending a specific sentence in the D.C. case, but has argued that Jackson has no reason not to throw the book at the 69-year-old Manafort. The former lobbyist and political consultant avoided a trial before Jackson late last year by agreeing to cooperate with prosecutors and pleading guilty to two felony conspiracy charges related to his overseas lobbying work.

Jackson ruled in February that Manafort "intentionally" breached that plea agreement by lying to investigators, and Mueller's team has presented Manafort as a hardened criminal who "repeatedly and brazenly violated the law ... for over a decade."

Perhaps most significantly, Mueller's team alleged that Manafort had lied about an August 2016 meeting with Konstantin Kilimnik, a business associate who the U.S. said had ties to Russian intelligence. Mueller's prosecutors have said that cut to the "heart" of the Russia probe, but Manafort's lawyers have maintained that any misstatements by Manafort were immaterial or unintentional, and that there was no evidence Manafort had any illegal contacts with Kilimnik.

This sketch shows Judge Amy Berman Jackson presiding over the Roger Stone case earlier this year. (The Associated Press, File)

This sketch shows Judge Amy Berman Jackson presiding over the Roger Stone case earlier this year. (The Associated Press, File)

The meeting involved a discussion of a potential peace plan between Russia and Ukraine, but many other details about it have been redacted in court papers.

Federal sentencing guidelines called for Manafort to receive nearly two decades in prison, although the two charges to which Manafort pleaded carry a maximum term of 5 years imprisonment each. In the Virginia case, in which Manafort was convicted by a jury on eight bank-and-tax-fraud charges, Ellis said the guidelines of sentencing Manafort to between 19 and 24 years in prison were "excessive."

Unlike Ellis -- the Reagan-appointed Virginia-based judge who repeatedly taunted and tormented Mueller's team last year, and declared openly that Manafort was being prosecuted only to get to President Trump -- Jackson is widely seen as relatively sympathetic to the government's case against Manafort.

JUDGE MOCKS MUELLER PROSECUTORS, ACCUSES ONE OF CRYING PATHETICALLY IN OPEN COURT

Judge Jackson has taken a tough approach in ongoing prosecution of longtime Trump adviser Roger Stone, which is also being run by Mueller. And, in 2013, the judge sentenced former Illinois Rep. Jesse Jackson, Jr., a Democrat, to 30 months in prison -- less than the 46 to 57 months requested by the government, but also significantly more than the 18 months defense attorneys had requested.

"The inescapable fact is that you and Sandra Jackson used campaign funds to sustain a lifestyle that you cannot afford,” Judge Jackson said at the time, referring to the congressman's wife. At the same time, the judge did cut the two something of a break by granting them the ability to serve their sentences at separate times to accommodate their two children.

Judge Jackson has a major opportunity to show similar leniency to Manafort: She has the authority to allow Manafort to serve his sentence in the D.C. case concurrently with the 47-month sentence from the Virginia case. And, Manafort's lawyers have argued there's a strong legal basis for Judge Jackson to do so, noting that federal sentencing guidelines ordinarily advise judges to exercise their discretion and consider allowing sentences to run concurrently where two separate criminal cases involve conduct "relevant" to one another.

In sentencing documents, Mueller did not take a position on whether Judge Jackson should afford Manafort that luxury, explaining that it was "unknown" what the sentence would be. Still, Mueller reserved the right to take a position later in court on Wednesday.

But, Manafort's team countered that he essentially had been caught at the wrong place at the wrong time.

A courtroom sketch shows Paul Manafort, in a wheelchair, awaiting his sentence in the Virginia case.

A courtroom sketch shows Paul Manafort, in a wheelchair, awaiting his sentence in the Virginia case.

"It is fair to say that, but for the appointment of the Special Counsel and his Office’s decision to pursue Mr. Manafort for a rarely prosecuted FARA [Foreign Agents Registration Act] violation, Mr. Manafort would not have been indicted in the District of Columbia," the attorneys wrote to Jackson.

The defense team's filing also included numerous letters from friends and associates of Manafort arguing on his behalf. In one letter, a family friend wrote that Manafort frequently would cut short business trips and even take overnight flights, solely to see his children's basketball games and attend to other family responsibilities.

Further, Manafort's team argued, the relatively light sentences handed out in other cases prosecuted by Mueller should guide Jackson -- and provided evidence that Mueller has come up empty in his search for improper Russia collusion by the Trump team.

"The sentences already imposed in other cases that have been investigated and/or prosecuted by the Special Counsel’s Office reflect the fact that courts recognize that these prosecutions bear little to no relation to the Special Counsel’s core mandate of investigating allegations that the Trump campaign colluded with the Russian government to influence the 2016 election," the attorneys wrote.

CLICK TO GET THE FOX NEWS APP

They specifically cited the two-week sentence given to former Trump campaign foreign policy adviser George Papadopoulos for lying to the FBI, as well as the 36-month sentence given to former Trump lawyer Michael Cohen, who pleaded guilty to making false statements to Congress, five counts of tax evasion, one count of falsifying submissions to a bank and two campaign finance violations. Cohen was ordered to pay $1.4 million in restitution and a $50,000 fine, and to forfeit $500,000.

"The Special Counsel's attempt to portray [Manafort] as a lifelong and irredeemable felon is beyond the pale and grossly overstates the facts before this Court," the attorneys wrote, adding that the case has "devastated him personally, professionally, and financially."

Fox News' Jake Gibson and Alex Pappas contributed to this report.

Source: Fox News Politics

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Illegal Alien Charged With Over 100 Child Sex Crimes

A previously-deported illegal alien was arrested in Louisiana and charged with 100 counts of possession of child pornography, one count of production of child pornography, and one count of sexual battery of a juvenile under the age of 13.

Miguel Martinez, 44, had been deported in 2005 and is a registered sex offender in the sanctuary state of California, according a press release issued by the Louisiana Department of Justice.

“Internet crimes against children continuously inflict damage,” said Louisiana Attorney General Jeff Landry. “Every time one of these videos or images is viewed, the child is re-victimized.”

Homeland Security has reportedly placed a detainer on Martinez and it is expected he will face additional charges pending further investigation.

AG Landry used occasion to issue a distress signal to Washington and voice his support for the building of a wall on the Southern border.


“This arrest should serve as a wake-up call to Congress,” Landry said. “By not securing our borders and properly vetting those coming into our Nation, we have seen lives lost and destroyed.”

“Illegal immigration has real-life consequences – countless numbers of needless crime victims, including too many Louisiana families and children. For their sake – I again urge Congress to realize the national emergency we have at our Southern border, support President Trump, build the wall, and help us make our communities safer.”



In this exclusive video, border patrol vans are seen pulling up to a Catholic respite center near McAllen, Texas, where a worker then warns that shooting video endangers the illegal aliens in the vans because they could be recognized and extorted by human traffickers or anybody they “borrowed money from.”

Dan Lyman:

Source: InfoWars

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EU’s Tusk: Longer Brexit talks would be better than no deal

FILE PHOTO: Extraordinary EU leaders summit in Brussels
FILE PHOTO: European Council President Donald Tusk attends a news conference after the extraordinary EU leaders summit to finalise and formalise the Brexit agreement in Brussels, Belgium November 25, 2018. REUTERS/Yves Herman/File Photo

February 20, 2019

WARSAW (Reuters) – Brexit negotiations might be extended if Britain fails to work out a sensible deal for leaving the European Union, European Council President Donald Tusk said on Wednesday.

“Together with Prime Minister May we have prepared a very good and secure deal for both sides and it turned out that the British rejected it and offered nothing in exchange,” Tusk said in an interview for private broadcaster TVN24.

“Of course, if Britain fails to prepare some sensible option on time, then there is always a possibility to extend these negotiations in time. This would be better than a divorce without agreement,” Tusk also said.

(Reporting by Agnieszka Barteczko, Editing by William Maclean)

Source: OANN

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Source: InfoWars

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FILE PHOTO: The Credit Suisse logo is pictured on a bank in Geneva
FILE PHOTO: The Credit Suisse logo is pictured on a bank in Geneva, Switzerland, October 17, 2017. REUTERS/Denis Balibouse/File Photo

April 26, 2019

ZURICH (Reuters) – Shareholders approved Credit Suisse’s 2018 compensation report with an 82 percent majority on Friday, overriding frustrations expressed at its annual general meeting over jumps in executive pay during a year its share price plummeted.

Three shareholder advisers had recommended investors vote against Switzerland’s second-biggest bank’s remuneration report, while a fourth backed the report but expressed reservations about whether management pay matched performance.

The approval marked a slight increase over the 80.8 percent support garnered for the bank’s 2017 compensation report.

(Reporting by Brenna Hughes Neghaiwi; Editing by Michael Shields)

Source: OANN

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FILE PHOTO: Traders work on the trading floor of Barclays Bank at Canary Wharf in London
FILE PHOTO: Traders work on the trading floor of Barclays Bank at Canary Wharf in London, Britain December 7, 2018. REUTERS/Simon Dawson/File Photo

April 26, 2019

By Simon Jessop and Sinead Cruise

LONDON (Reuters) – Activist investor Edward Bramson is likely to fail in his attempt to get a board seat at Barclays’ annual meeting next week, even though shareholders are dissatisfied with performance of the group’s investment bank.

New York-based Bramson’s Sherborne Investors and the board of the British bank have been sparring for months over Barclays’ strategy.

Bramson wants to scale back Barclays’ investment bank to reduce risk and boost shareholder returns. Barclays Chief Executive Jes Staley remains staunchly committed to growing the business out of trouble.

After failing to persuade Staley to change course since he began building a 5.5 percent stake in the bank in March last year, Bramson hopes a board seat will rachet up the pressure.

Both sides have written to shareholders pitching their case and Bramson has courted investors in one-on-one meetings, although none have publicly backed him yet.

Interviews by Reuters with five institutional investors in Barclays suggest Bramson has failed to persuade them.

Sherborne declined to comment.

Mirza Baig, head of investment stewardship at top-40 shareholder Aviva Investors, said Bramson was welcome on the bank’s register but the boardroom was a step too far.

“He has created a lot of value at other businesses, but, generally, when he has come in as executive chair and taken full control. This would be a different case where he would just be one lone voice on the board,” he said.

A second Barclays shareholder said he backed Bramson’s goal of improving returns but via an “evolutionary” approach.

“If you look at banks that have tried to restructure their operations in investment banking – you look at Natwest Markets, Deutsche Bank – I struggle to think of an example where a roughshod restructuring has been accretive to shareholder value.”

A third, top-30 investor said he had been impressed by incoming Chairman Nigel Higgins’ grasp of the challenge in hand, and felt investors would give him time.

“Management know they have to execute and deliver improved returns… [Higgins] will continue to re-shape the board but obviously he didn’t feel that having someone with a diametrically opposed view on it would be helpful.”

A fourth, top-30 investor agreed: “We voted for the chairman to come in and it would be crazy to allow an activist to join the board (at this time).”

Jupiter Fund Management, the 24th largest investor, said it also planned to vote against Bramson.

Barclays has nearly 500 institutional shareholders, Refinitiv data showed.

Since Staley joined Barclays in 2015, the investment bank returns relative to capital invested have increased but are still underperforming the overall business.

Barclays’ first-quarter figures showed the investment bank posted a 6 percent drop in income from its markets business and a 17 percent fall in banking advisory fees.

Returns in the investment bank fell to 9.5 percent from 13.2 percent a year ago.

Famed for successful campaigns against smaller British companies in sectors from chemicals to advertising, Bramson’s board seat pitch has been rebuffed by shareholder advisory firms.

Institutional Shareholder Services, the world’s biggest, said Bramson’s proposal “falls short of what can reasonably be expected from a shareholder trying to address issues at a 28 billion pounds, systemically important bank”.

Glass Lewis also flagged concern about Bramson’s lack of banking experience and “questionable” shareholding structure, referring to Sherborne’s use of derivative contracts to hedge losses should its strategy fail.

Critics said the arrangement meant his interests are not truly aligned with those of other long-term shareholders.

British advisory firm Pirc, however, said it recommended that investors abstain in the vote on Bramson’s proposal as a challenge to the board to do better in the year ahead – or face a similar contest in 2020.

(Editing by Jane Merriman)

Source: OANN

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https://a57.foxnews.com/static.foxnews.com/foxnews.com/content/uploads/2019/04/918/516/02_2.jpg?ve=1&tl=1

After an over 15-month pregnancy, “Akuti,” a 7-year-old Greater One Horned Indian Rhinoceros, gave birth as a result of induced ovulation and artificial insemination at Zoo Miami, April 23, 2019.

Ron Magill/Zoo Miami

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Source: Fox News World

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FILE PHOTO: File photo of a Chevron gas station sign in Del Mar, California
FILE PHOTO: A Chevron gas station sign is seen in Del Mar, California, in this April 25, 2013 file photo. REUTERS/Mike Blake/File Photo

April 26, 2019

(Reuters) – U.S. oil and natural gas producer Chevron Corp reported a 27 percent fall in quarterly earnings on Friday, hit by lower crude prices and weaker margins in its refining and chemicals businesses.

Net income attributable to the company fell to $2.65 billion, or $1.39 per share, for the first quarter ended March 31, from $3.64 billion, or $1.90 per share, a year earlier.

Earlier in the day, larger rival Exxon Mobil Corp reported earnings well below analysts’ estimates, as margins in its refining business were hurt by higher Canadian prices and heavy scheduled maintenance.

(Reporting by Arathy S Nair in Bengaluru; Editing by Saumyadeb Chakrabarty)

Source: OANN

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FILE PHOTO: Ford logo is seen at the North American International Auto Show in Detroit, Michigan
FILE PHOTO: The Ford logo is seen at the North American International Auto Show in Detroit, Michigan, U.S., January 15, 2019. REUTERS/Brendan McDermid/File Photo

April 26, 2019

(Reuters) – Ford Motor Co said on Friday the U.S. Department of Justice had opened a criminal investigation into the automaker’s emissions certification process in the United States.

The potential concern does not involve the use of defeat devices, the company said in a regulatory filing. (https://bit.ly/2VqjHpl)

Ford had voluntarily disclosed the matter to the U.S. Environmental Protection Agency and the California Air Resources Board in February.

(Reporting by Ankit Ajmera in Bengaluru; Editing by James Emmanuel)

Source: OANN

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