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Exclusive: EU risks ‘trade war’ with Malaysia over palm oil – Mahathir

Malaysia's Prime Minister Mahathir Mohamad reacts during an interview with Reuters in Langkawi
Malaysia's Prime Minister Mahathir Mohamad reacts during an interview with Reuters in Langkawi, Malaysia March 28, 2019. REUTERS/Feline Lim

March 28, 2019

KUALA LUMPUR (Reuters) – The European Union risks opening up a trade war with Malaysia over its “grossly unfair” policies aimed at reducing the use of palm oil, Prime Minister Mahathir Mohamad said on Thursday.

This month, the European Commission concluded that palm oil cultivation results in excessive deforestation and its use in transport fuel should be phased out by 2030.

Malaysia, the world’s second biggest palm oil producer after Indonesia, relies on the crop for billions of dollars in foreign exchange earnings and hundreds of thousands of jobs.

Mahathir, 93, said the EU’s increasingly hostile attitude towards palm oil, a commodity used in everything from chocolate spread to lipstick, was an attempt to protect alternatives that Europe produced itself, like rape seed oil.

“To do that kind of thing to win a trade war is unfair,” Mahathir told Reuters in Langkawi, a tropical island 30 km off Malaysia’s mainland.

“Trade wars are not something we like to promote but on the other hand it is grossly unfair for rich people to try and impoverish poor people.”

(Reporting by A. Ananthalakshmi, Joseph Sipalan, Joe Brock; Editing by Robert Birsel)

Source: OANN

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Woman makes sure decorated WWII Marine gets hero’s farewell

A decorated World War II veteran who died this month with no living relatives is being honored by strangers around the world thanks to an unlikely friendship with a young woman determined to give him a hero's farewell.

Bob Graham earned Bronze and Silver stars for his service in the Pacific, where he fought at Guadalcanal and Bougainville as a member of the elite Marine Raiders. Following the war he returned to New York state where he worked as a corrections officer. He died April 12 at age 97, two years after the passing of Rosie, his wife of more than 60 years.

With no close relatives left and most of his fellow Marines and former co-workers long gone, Graham's death would likely have gone unnoticed if not for Beth Regan, 27, who befriended Graham while volunteering at his nursing home. Fearing that his funeral might be sparsely attended, she turned to the internet to get the message out.

It fell on eager ears. Condolences have poured in from around the nation and world. Local firefighters will line the streets and hoist a giant American flag for the funeral procession in Westchester County. Members of the Patriot Guard Riders plan to create a line of flags at Graham's internment at a cemetery in the Bronx. On Wednesday, CNN's Jake Tapper tweeted out information about his services.

"I just wanted to make sure people would attend," said Regan. She said her friend would be flummoxed by the attention. "He'd be floored. He wouldn't understand why so many people are out there celebrating him."

Graham's gallantry extended far off the battlefield, she said. When she first met him four years ago Graham was in his favorite place: sitting next to Rosie, who was arthritic and missing an eye.

"He would always have his chair next to her wheel chair so he could hold her hand," she remembered.

When Rosie died two years ago, Graham's grief was such that Regan feared he would quickly follow.

A man who jogged into his 90s, Graham had a keen mind and could rattle off decades-old baseball statistics or recall specific dates from his military service. He dismissed any talk of being hero. When Regan would arrange for other Marines to visit him at the nursing home, he'd ask her why he deserved such attention.

"He never wanted to talk about his time in the war because he thought he was bragging," she said. "'Why are you doing this,' he'd say. 'I'm not a big deal.'"

Regan recently moved to North Carolina for work but will be back in New York for Graham's service. And when they present the folded American flag customarily given to the loved ones of decorated veterans, it will be presented to her.

"He would call me his angel," Regan said of her friend. "It was just a very special connection."

Source: Fox News National

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Grassley Urges: No More Changes to Top Immigration Officials

Sen. Chuck Grassley, R-Iowa is urging the White House not to get rid of another top immigration official, particularly Lee Cissna, director of U.S. Citizenship and Immigration Services.

Grassley made his remarks in an interview with The Washington Post on Monday. They came after Kirstjen Nielsen resigned as Homeland Security secretary on Sunday and the White House announced that Randolph Alles. director of the Secret Service would soon be leaving his post.

And last week, the White House pulled the nomination of Ronald Vitiello, who had been nominated for the post of director of Immigration and Customs Enforcement. The Post said sources claim Cissna could be the next to go.

Grassley told the newspaper he was “very, very concerned.”

“One, those are good public servants,” Grassley said. “Secondly, besides the personal connection I have with them and the qualifications they have, they are the intellectual basis for what the president wants to accomplish in immigration.

 “The president has to have some stability and particularly with the number one issue that he’s made for his campaign, throughout his two and a half years of presidency. He’s pulling the rug out from the very people that are trying to help him accomplish his goal.”

Grassley made his concerns known to Mick Mulvaney, acting White House chief of staff. Mulvaney said he would look into the issue, Grassley told the Post.

Grassley also criticized White House senior adviser Stephen Miller, who has been pushing for changes at DHS.

Source: NewsMax Politics

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Rod Rosenstein says it’s ‘completely bizarre’ to say William Barr is ‘trying to mislead people’ on Mueller report

Deputy Attorney General Rod Rosenstein defended attorney general William Barr’s handling of the Mueller report, just days after Barr testified before a House appropriations subcommittee.

In his first interview since the Mueller investigation wrapped up, Rosenstein said that he believed it was strange to say the attorney general was misleading the public on the highly-anticipated report.

COMEY SCOFFS AT BARR TESTIMONY, CLAIMS ‘SURVEILLANCE’ IS NOT ‘SPYING’

“He’s being as forthcoming as he can, and so this notion that he’s trying to mislead people, I think is just completely bizarre,” Mr. Rosenstein told the Wall Street Journal.

“It would be one thing if you put out a letter and said, ‘I’m not going to give you the report,’” Rosenstein said. “What he said is, ‘Look, it’s going to take a while to process the report. In the meantime, people really want to know what’s in it. I’m going to give you the top-line conclusions.’ That’s all he was trying to do.”

The deputy attorney general called on the public to have “tremendous confidence” in Barr and declined to say how the review of the report was going.

MEDIA TAKE ISSUE WITH AG BARR FOR SAYING 'SPYING DID OCCUR' ON TRUMP CAMPAIGN

During hearings on Capitol Hill this week, Barr defended his decision to send a letter to Congress detailing Mueller’s principal conclusions because the public would not have tolerated waiting weeks for information. Mueller concluded his nearly two-year Russia investigation in late March and submitted the nearly 400-page confidential report to Barr.

The attorney general sent his four-page letter to Congress two days later.

Barr wrote in his letter that Mueller found no evidence of Trump-Russia collusion despite efforts by "Russian-affiliated individuals to assist the Trump campaign." He also said that Mueller had not exonerated President Trump on the issue of obstruction of justice.

Barr said on Tuesday a redacted version of Mueller’s report will be made public within a week.

Rosenstein, 54, told the Wall Street Journal he hopes to begin a new job toward the end of the summer. Earlier this year, Trump announced he will nominate Jeff Rosen to replace Rosenstein deputy attorney general. President Trump has threatened to fire Rosenstein, who said he stayed in his position at the Department of Justice “at Barr’s request” saying, “For me, it’s a real privilege.”

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Rosenstein’s comments come after Barr said in Capitol Hill testimony that “spying did occur” against the 2016 Trump campaign. Former FBI Director James Comey claimed he had no idea what the Justice Department leader was talking about.

“I have no idea what he’s talking about so it’s hard for me to comment,” Comey said. “When I hear that kind of language used, it’s concerning because the FBI and the Department of Justice conduct court-ordered electronic surveillance. I have never thought of that as spying.”

Fox News’ Gregg Re, Brooke Singman and The Associated Press contributed to this report.

Source: Fox News Politics

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Dems Could Pick Up 2 House Seats in NC Special Elections

North Carolina's Democratic Gov. Roy Cooper recently set the rules and timetable for special elections to fill open U.S. House seats in his state's 9th and 3rd Districts.

Although both districts were firmly in Republican hands for decades, Democrats are expected to make all-out efforts to win both the 3rd District long held by the late Rep. Walter Jones, R-N.C., and the 9th — recently declared vacant after Republican nominee Mark Harris was found to have hired a political consultant who engaged in the practice of "ballot harvesting" (a way of collecting absentee ballots that is illegal in the Tar heel State).

"Given the controversy over the ballots cast in the November race that cast clouds over the Republican nominee, it has to be said that the Democrat will be the favorite in the special election," former Republican consultant Marc Rotterman told Newsmax.

Democrat Dan McCready, a small business owner and U.S. Marine Corps veteran who saw action in Iraq, lost to Republican Harris by 905 votes last fall. He is a virtual certainty to carry the Democratic banner again in the special election Sept. 10 and is sure to be targeted for support by the Democratic Congressional Campaign Committee and the Democratic National Committee.

In contrast, 10 Republicans are vying for nomination in the primary May 14.  The early favorites are two-term state Sen. Dan Bishop, considered a strong conservative, and Union County Commissioner Stony Rushing, who has the endorsement of Harris and many of his fellow evangelical conservatives.

If no candidate wins at least 30 percent of the vote in the primary, a run-off between the top two vote-getters will be held Sept. 10 and thus push the general election to Nov. 5.

A Democrat pickup of the seat would mean one of the most durably Republican seats in the South had flipped hands. The 9th has had five U.S. Representatives since 1952, all of them Republican.

The 3rd District (Eastern North Carolina), long a bastion of support for the late conservative hero and Sen. Jesse Helms, R.-N.C., was held by Walter Jones from 1994, when he unseated Rep. Martin Lancaster, D-N.C. Since then, Jones faced challenges in primaries from Republicans who did not like some of his controversial stands (such as opposing President George W. Bush on U.S. involvement in both Afghanistan and Iraq).

But general elections were always cakewalks for Jones. Now, 17 Republicans are competing for nomination in the primary April 30. Among them are three state representatives, three county commissioners, and Michele Nix, who resigned as vice chairman of the state Republican Party to make the race.

Among Democrats, three of the six contenders are considered political heavyweights: New Bern Mayor Dana Outlaw, former Greenville Mayor Allen Thomas, and Richard Bew, a retired U.S. Marine and former legislative director for the Chairman of the Joint Chiefs of Staff. All three are considered centrist Democrats in the mold of Gov. Cooper.

The general election to fill Jones' seat is scheduled for July 9. But if the top vote-getter in either primary fails to attain 30 percent of the vote April 30, a run-off will be held July 9 and the special election bumped to Sept. 10.

One other factor makes Republicans a bit more uneasy about the 9th and 3rd District contests: in both, there will be an active Libertarian nominee and that usually works against Republicans in close races.

John Gizzi is chief political columnist and White House correspondent for Newsmax. For more of his reports, Go Here Now.

Source: NewsMax Politics

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Struggling industry saps German business morale as trade woes bite

Aerial view of containers at a loading terminal in the port of Hamburg
FILE PHOTO: Aerial view of containers at a loading terminal in the port of Hamburg, Germany August 1, 2018. REUTERS/Fabian Bimmer

April 24, 2019

By Paul Carrel and Jörn Poltz

BERLIN/MUNICH (Reuters) – German business morale deteriorated in April, bucking expectations for a small improvement, as trade tensions hurt the industrial engine of Europe’s largest economy, leaving domestic demand to support slowing growth.

The Munich-based Ifo economic institute said on Wednesday its business climate index fell to 99.2 in April from an upwardly revised 99.7 in March, the first rise after six straight declines. The consensus forecast for a rise to 99.9.

“March’s gentle optimism regarding the coming months has evaporated,” Ifo President Clemens Fuest said in a statement. “The German economy continues to lose steam.”

Ifo sub-indices on current conditions and expectations fell in April.

Last week, Economy Minister Peter Altmaier said that Berlin expected gross domestic product to grow by 0.5 percent this year after an expansion of 1.4 percent in 2018.

The government had already cut its 2019 forecast in January to 1.0 percent growth from 1.8 percent previously. Long the euro zone’s economic powerhouse, Germany is in its 10th year of expansion, but only narrowly avoided recession last year.

German exporters are struggling with weaker demand from abroad, trade tensions triggered by U.S. President Donald Trump and business uncertainty caused by Britain’s planned departure from the European Union.

“Pessimism is increasing,” Ifo economist Klaus Wohlrabe told Reuters. “The industrial sector is dragging down the German economy.”

Late last month, German lighting company Osram cut its forecast for the fiscal year 2019, citing market weakness in the automotive industry, general lighting and mobile devices as well as a broader economic slowdown.

A delay to Brexit, which leaders from the remaining 27 EU countries granted Britain earlier this month, did not buoy German business morale.

“The uncertainty has receded slightly, but is still very high,” Wohlrabe added.

In a fresh development in the trade difficulties unnerving German businesses, Trump said on Tuesday European tariffs facing motorcycle manufacturer Harley Davidson Inc were “unfair” and vowed to reciprocate.

The difficult trade environment means that Germany’s vibrant domestic demand, helped by record-high employment, inflation-busting pay increases and low borrowing costs, is expected to be the sole driver of growth this year and next.

Germany’s HDE retail association on Wednesday confirmed its forecast that sales would rise 2 percent this year, marking a 10th straight year of growth.

“The domestic economy remains a pillar of support,” said Ifo’s Wohlrabe.

However, the HDE added that although it did not yet have a forecast for 2020 sales, it expected the industrial slowdown to affect retailers.

(Additional reporting by Michelle Martin, editing by Larry King)

Source: OANN

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Russia’s Deripaska sues U.S. over sanctions: court filing

Russian aluminium tycoon Deripaska and Industry and Trade Minister Manturov arrive for the talks of Russian President Putin with South Korean President Moon in Moscow
FILE PHOTO: Russian aluminium tycoon Oleg Deripaska and Industry and Trade Minister Denis Manturov arrive for the talks of Russian President Vladimir Putin with South Korean President Moon Jae-in at the Kremlin in Moscow, Russia June 22, 2018. REUTERS/Sergei Karpukhin

March 15, 2019

WASHINGTON (Reuters) – Russian tycoon Oleg Deripaska sued the United States on Friday, alleging that it had overstepped its legal bounds in sanctioning his companies and made him the “latest victim” in the ongoing U.S. probe into Moscow’s alleged political interference.

In a legal filing, Deripaska asked the U.S. District Court in Washington to block the U.S. Treasury Department from using the “devastating power” of such economic sanctions that he said were inconsistent with U.S. Constitution.

(Reporting by Nathan Layne and Susan Heavey)

Source: OANN

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The headquarters of Wirecard AG is seen in Aschheim near Munich
FILE PHOTO: The headquarters of Wirecard AG, an independent provider of outsourcing and white label solutions for electronic payment transactions is seen in Aschheim near Munich, Germany April 25, 2019. REUTERS/Michael Dalder

April 26, 2019

BERLIN (Reuters) – Wulf Matthias will not stand for a second term as Wirecard’s chairman in 2020, German daily Handelsblatt said on Friday, citing sources in the financial industry.

For age reasons alone this would not be an option for Matthias, aged 75, Handelsblatt added.

Matthias will keep his mandate until it ends in 2020, the paper quoted a company spokeswoman as saying.

Wirecard was not immediately available for comment when contacted by Reuters.

(Reporting by Tassilo Hummel; Editing by Thomas Seythal)

Source: OANN

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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

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

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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