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Daimler taps Goldman to raise China BAIC shareholdingsources

Paris Auto Show
The Daimler is seen during a press conference on the second press day of the Paris auto show, in Paris, France, October 3, 2018. REUTERS/Regis Duvignau

March 22, 2019

By Kane Wu and Julie Zhu

HONG KONG (Reuters) – Daimler has asked Goldman Sachs to help it explore increasing its stake in Chinese carmaker BAIC Motor Corp, its main China joint venture partner, two people with knowledge of the matter said.

A deal would be only the second since the world’s biggest auto market relaxed foreign ownership rules last year.

Daimler’s rival BMW became the first to take advantage of the changes when it agreed in October to buy control of its venture with Brilliance China Automotive Holdings Ltd for 3.6 billion euros ($4.08 billion).

Caps on foreign ownership previously prevented overseas carmakers from controlling any Chinese maker or joint venture with foreign peers. Last year those limits were removed for firms making fully electric and plug-in hybrid vehicles, which will be followed in 2020 by the removal of limits on makers of commercial vehicles such as trucks and buses.

In 2022, the limits will be lifted on the wider car market. BMW’s deal with Brilliance China will only take effect then.

Daimler’s discussions with BAIC are at an early stage and its plan to increase the stake in BAIC’s Hong Kong-listed entity has not been finalised and could change later, cautioned the people, who declined to be identified as the information is confidential.

Daimler holds 30.4 percent of BAIC’s Hong Kong-listed shares, representing a 9.55 percent overall stake in its Chinese partner, according to BAIC’s June 2018 interim report.

State-owned BAIC Group and steel giant Beijing Shougang owns 42.6 percent and 12.8 percent of BAIC through its non-tradable domestic shares, respectively.

It is not clear whether Daimler would seek a majority stake in BAIC, which has a current market capitalisation of $4.9 billion.

Daimler declined to comment on speculation about its partnerships. Beijing-based BAIC did not respond to a request for comments. Goldman declined to comment.

Daimler owns 49 percent in Beijing Benz Automotive Co, its main JV with BAIC, as well as a 3.93 percent stake in Beijing Electric Vehicle Co., a subsidiary of BAIC. It also has a smaller JV with new energy vehicle maker BYD.

It is also setting up a ride-hailing JV in China with Geely Group, Reuters reported in October. Geely bought a 9.69 percent stake in Daimler in early 2018 and demanded an alliance.

Daimler sold 653,000 cars in China last year, its biggest sales market in the world.

Two separate people with knowledge of the matter said Daimler would still like to raise its 49 percent stake in Beijing Benz Automotive. It held talks with BAIC last year but those petered out earlier this year, said one of them.

BAIC denied a Bloomberg report in early December that Daimler had raised the prospect of increasing its stake in Beijing Benz to at least 65 percent.

(Reporting by Kane Wu and Julie Zhu in Hong Kong, and Yilei Sun in Beijing; Additional reporting by Arno Schuetze and Edward Taylor in Frankfurt; Editing by Kim Coghill)

Source: OANN

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Bed Bath & Beyond activist investors pushing to replace board, CEO

Shopping carts are stacked up at a Bed Bath & Beyond store in Somerville
Shopping carts are stacked up at a Bed Bath & Beyond store in Somerville, Massachusetts, U.S. June 17, 2016. REUTERS/Brian Snyder

March 26, 2019

(Reuters) – Three activist investors disclosed a combined 5 percent stake in Bed Bath & Beyond Inc on Tuesday, seeking to replace the entire board and oust long-time Chief Executive Officer Steven Temares.

Legion Partners Asset Management LLC, Macellum Advisors GP LLC and Ancora Advisors LLC also announced the nomination of 16 independent candidates to the home furnishing retailer’s board.

The Wall Street Journal first reported about the developments late on Monday, sending the company’s shares up 24 percent before the opening bell on Tuesday.

(Reporting by Aishwarya Venugopal in Bengaluru; Editing by Maju Samuel)

Source: OANN

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‘El Chapo’ brand, helmed by beauty queen wife Emma Coronel Aispuro, violates ‘morality’: authorities

Orange might not be the new black after all.

The powers-that-be were apparently paying attention earlier this week when Emma Coronel Aispuro, the 29-year-old beauty queen wife of convicted drug lord Joaquin “El Chapo” Guzman said her husband – from behind bars – had handed over the rights to his infamous name and provided his signature for a new company -- El Chapo Guzman: JGL LLC.

But Coronel soon discovered it's not quite that easy to make money off the name of a convicted drug trafficker (who also dabbled in mass murder and money laundering).

Authorities are fighting back, frustrating Coronel's efforts to register Chapo's name as a trademark and charging that Coronel's business glorifying the cartel kingpin "violates public order, morality and good manners," according to the Associated Press.

Mariel Colon, a legal representative for Chapo, had confirmed to Fox News that production was in process and the line – likely to be comprised of caps and jackets bearing the former Sinaloa cartel kingpin’s name – would hopefully hit store shelves by summer.

EL CHAPO JURORS COULD BE IN LEGAL TROUBLE FOR CRIMINAL CONTEMPT AS DEFENSE READIES PUSH FOR RETRIAL

"This company was formed here in New York. Emma is the president of this LLC," Colon said, stressing that Guzman himself wouldn't make a dime and his name is not listed on the LLC.

A lawyer for Guzman and Coronel did not immediately respond to a comment request regarding the pushback from officials on Friday.

Joaquin "El Chapo" Guzman is made to face the media in Mexico City as he is escorted by Mexican soldiers following his recapture six months after escaping from a maximum security prison. The notorious Mexican drug lord was convicted of drug-trafficking charges, Tuesday, Feb. 12 2019, in federal court in New York. (AP Photo/Eduardo Verdugo, File)

Joaquin "El Chapo" Guzman is made to face the media in Mexico City as he is escorted by Mexican soldiers following his recapture six months after escaping from a maximum security prison. The notorious Mexican drug lord was convicted of drug-trafficking charges, Tuesday, Feb. 12 2019, in federal court in New York. (AP Photo/Eduardo Verdugo, File)

Coronel has been married to Guzman for 11 years and shares two 7-year-old twins with the drug kingpin, who was convicted in February on drug trafficking, money laundering and firearms possession charges. Her husband was found guilty of conspiring to smuggle large volumes of cocaine, heroin and methamphetamine into the United States and will likely spend the rest of his life in prison (unless he breaks out -- which he's done several times before).

CHAPO'S BEAUTY QUEEN WIFE LIVING LAVISHLY - AWAY FROM THE COURTROOM

Coronel had taken to her Instagram account to promote the clothing line, boasting it would promote both her husband’s style and her own. The former beauty queen, who previously shared poolside bikini pics and showed off a lavish lifestyle as her husband awaited his trial in New York, suddenly swapped her more curve-hugging designer duds for conservative blouses and streamlined black suits, for courthouse appearances, where she became a paparazzi staple throughout the lengthy trial.

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But whether or not she will go on to make a buck with a line in homage to her husband, remains to be seen.

Danielle Wallace and the Associated Press contributed to this report

Source: Fox News National

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French Drones Patrol English Channel as Migrant Crisis Escalates

French police say they are now utilizing drones to patrol the English Channel amid a surge of migrant crossings and related incidents.

The new measures are part of a broader Franco-British action plan announced in January to "save more lives than to fight against illegal immigration," after a steady increase of illegal migrants and human traffickers began attempting to cross the Channel from France to Britain in the fall of 2018.

"Eight military officials attended drone pilot training from March 11 to 22," Pas-de-Calais prefecture explained in a press release, as reported by La Voix du Nord. "This training resulted in the qualification of six telepilots from the Pas-de-Calais grouping and two from the Northern grouping, which are now able to support, with the use of a drone, land patrols and helicopters and maritime means that can be engaged."

"The drones can be deployed as needed this week."

British authorities recently revealed that migrants have become so emboldened by the lack of disciplinary action being taken against illegal crossers, some are simply calling police from their boats to arrange pick-up.

"Illegal migrants are ringing police to collect them from boats in the Channel because they are so sure of avoiding being returned to their countries, MPs have been told," the London Times reported.

"The sea is like a duck pond," said retired coastguard officer Andy Roberts. "This is going to carry on and on. There will be lots more to come. The weather is so great for them. It's a perfect time for them."

The French port of Calais was plunged into chaos in early March when over 100 migrants stormed a ferry bound for the UK in what police called a "coordinated attack."

In January, a woman living near Kent discovered three migrant men, who had just illegally completed the Channel crossing, standing in her front yard.

Paul Joseph Watson breaks down how the European Union has officially voted to adopt the Article 13 provision into law which would govern the production and distribution of online content under the presumption of copyright protections, but what this really means is no more creative memes.

(PHOTO: GEORGES GOBET/AFP/Getty Images)

Source: InfoWars

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Alabama-born ISIS wife will not be admitted to the US, Pompeo says

Secretary of State Mike Pompeo said Wednesday an Alabama-born woman who joined ISIS but now wants to return home with the 18-month-son she had with her ISIS husband will not be admitted back into the United States, saying she is not a U.S. citizen anymore.

“Ms. Hoda Muthana is not a U.S. citizen and will not be admitted into the United States,” Pompeo said in a statement. “She does not have any legal basis, no valid U.S. passport, no right to a passport, nor any visa to travel to the United States. We continue to strongly advise all U.S. citizens not to travel to Syria.”

Muthana, 24, has pleaded with officials to let her back into the U.S. following her recent escape from ISIS and capture by Kurdish forces. She is being held in a refugee camp in northeast Syria and told The Guardian in an interview that her last four years with the terrorist group have been a traumatizing experience where “we starved and we literally ate grass."

“I would tell them please forgive me for being so ignorant, and I was really young and ignorant and I was 19 when I decided to leave,” she told the newspaper when asked if she had a message for American officials.

Muthana first made headlines in 2015 after it emerged that she left her family in Birmingham, Alabama to join the bloodthirsty terrorist group.

An attorney representing her parents at the time said Muthana was “brainwashed” over the Internet, according to the Associated Press, and that she went against her family’s wishes and the teachings of Islam by secretly boarding a plane to Turkey in late 2014 to link up with ISIS.

The attorney said it then, but it wasn’t until Sunday -- in her interview with The Guardian -- that Muthana admitted herself that she was “brainwashed” and made a “big mistake.”

“I thought I was doing things correctly for the sake of God,” she said, adding that she was “brainwashed once and my friends are still brainwashed.”

The newspaper says Muthana, during her time with ISIS, lived in their once-stronghold of Raqqa and was married to jihadists from Australia, Tunisia, and Syria – the first two of which have been killed in battle.

In 2015, Muthana reportedly operated a Twitter account and once tried to use it to incite Americans to commit acts of violence amongst themselves on national holidays.

“Americans wake up! Men and women altogether. You have much to do while you live under our greatest enemy, enough of your sleeping!” she once wrote, according to The Guardian. “Go on drivebys, and spill all of their blood, or rent a big truck and drive all over them. Veterans, Patriots, Memorial, etc day … Kill them.”

Muthana now has an 18-month-old son from one of her ISIS marriages. In her interview with The Guardian, Muthana also claims her parents were too strict on her in her upbringing, a factor that she says contributed to her decision to defect to ISIS.

“You want to go out with your friends and I didn’t get any of that,” she said. “I turned to my religion and went in too hard. I was self-taught and thought whatever I read, it was right."

Now Muthana is not allowed to leave the camp she is being held at and has to be escorted around by Kurdish fighters, more than 6,500 miles away from the Alabama city she once called home.

Fox News’ Greg Norman and Nick Kalman contributed to this report.

Source: Fox News Politics

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Small plane crashes in southern Bulgaria, 2 killed

Authorities in Bulgaria say a small private plane has crashed in a field in a southern region, killing the pilot and the lone passenger on board.

Plovdiv police chief Atanas Ilkov said the two-seat Zodiac aircraft was on a demonstration tour when one of its wings separated in flight and it fell to the ground near a stadium in the village of Orizare. The accident occurred at 10:20 a.m. Saturday as a sports event was taking place at the stadium.

The cause of the crash is under investigation.

The crash is the second of a small Bulgarian aircraft this month. On April 2, a small plane crashed into a mountain in neighboring Northern Macedonia, killing all four people on board.

Source: Fox News World

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Exclusive: RWE CFO maps out planned expansion in renewables, U.S. in focus

RWE CFO Markus Krebber attends the annual shareholders meeting of German power supplier RWE in Essen
FILE PHOTO: RWE CFO Markus Krebber attends the annual shareholders meeting of German power supplier RWE in Essen, Germany, April 26, 2018. REUTERS/Thilo Schmuelgen

April 17, 2019

By Tom Käckenhoff, David French and Vera Eckert

ESSEN, Germany, NEW YORK, FRANKFURT (Reuters) – German utility RWE expects to spend heavily in the U.S. renewable energy market as it maps out its future as a global renewable champion after its pending asset swap deal with peer E.ON.

“We expect to spend several billions of euros on the expansion of the U.S. renewables business in the next few years,” chief financial officer Markus Krebber told Reuters in an interview.

RWE is trying to shed its image as coal-heavy, closing many of its German plants in return for compensation that is yet to be negotiated, and has demonstrated the bulk of its future profits will come from renewables.

(Editing by Georgina Prodhan and Michelle Martin)

Source: OANN

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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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Hundreds of Cuban migrants are reported to be on the run Friday in Mexico after a crowd of more than 1,000 burst out of a troubled immigration detention center on its southern border.

Mexico’s National Immigration Institute said the mass escape Thursday in Tapachula – which the Associated Press called the largest in recent memory — involved around 1,300 Cuban migrants, although 700 of them have since returned voluntarily.

The migrants reportedly streamed out of the compound without any resistance, as the institute said its agents weren’t armed and “there was no confrontation.”

Federal police with riot shields later rushed in to control the situation, as a crowd of angry Cubans whose relatives were being held at the facility gathered outside. The Cubans claimed their relatives reported overcrowding and unsanitary conditions at the facility.

A Federal Police officer stands guard outside an immigration detention center in Tapachula, Chiapas state, Mexico, late Thursday, following a breakout.

A Federal Police officer stands guard outside an immigration detention center in Tapachula, Chiapas state, Mexico, late Thursday, following a breakout. (AP)

BORDER PATROL UNION CHIEF BLASTS CONGRESS OVER MIGRANT CARAVANS: ‘WHAT ARE YOU DOING ABOUT IT’?

“My wife and child have been in there for 27 days in bad conditions,” said Usmoni Velazquez Vallejo, as he waited outside for news. “There is overcrowding, insufficient food and there isn’t even medicine for them.”

Another Cuban detainee told the AFP: “We have many there… we are very tight, we sleep on the floor.”

It’s the third time since October that migrants at the facility staged an uprising, according to the news agency.

The center’s holding capacity is officially listed at less than 1,000 people, but the escape of 1,300 meant it was probably at least at double its capacity, since not everyone being held there escaped. Residents in the area said that sometimes the facility has held as many as 3,000 people, and a Mexican newspaper cited by Reuters said Haitians and Central Americans also are among the large group who still have not been tracked down.

Migrants wait for their transfer from an immigration detention center in Tapachula, Chiapas state, Mexico, on Thursday.

Migrants wait for their transfer from an immigration detention center in Tapachula, Chiapas state, Mexico, on Thursday. (AP)

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Earlier in the day, Mexico’s top human rights official toured the facility.

Elsewhere in the country, a new caravan estimated to contain up to 10,000 migrants is making its way to the U.S.-Mexico border.

The Associated Press contributed to this report.

Source: Fox News World

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Logo of the Exxon Mobil Corp is seen at the Rio Oil and Gas Expo and Conference in Rio de Janeiro
FILE PHOTO: A logo of the Exxon Mobil Corp is seen at the Rio Oil and Gas Expo and Conference in Rio de Janeiro, Brazil September 24, 2018. REUTERS/Sergio Moraes

April 26, 2019

(Reuters) – Exxon Mobil Corp on Friday reported first-quarter profit fell sharply on lower oil and gas prices and weakness in its refining and chemicals businesses that offset modest production gains.

The largest U.S. oil producer’s first quarter earnings fell to $2.35 billion, or 55 cents a share, from $4.65 billion, or $1.09 a share, a year ago.

Analysts had expected Exxon to earn 70 cents per share, according to Refinitiv Eikon estimates.

Shares were trading down about 2.7 percent in premarket trading on Friday.

Exxon’s oil equivalent production rose 2 percent to 4 million barrels per day, up from 3.9 million bpd in the same period the year prior. The company said its output in the Permian Basin, the largest U.S. shale basin, rose 140 percent over a year ago.

(Reporting by Jennifer Hiller; Editing by Chizu Nomiyama)

Source: OANN

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The Washington Post’s media critic went into meltdown after White House Press Secretary Sarah Sanders held a mock press briefing for the children of White House journalists and employees on Take Your Daughters and Sons to Work Day.

Erik Wemple, the newspaper’s chief media critic, slammed Sanders and the White House for organizing a fun day on Thursday for junior would-be journalists, while not holding an actual press conference for the record number of days.

WHITE HOUSE STAFF TO SKIP CORRESPONDENTS’ DINNER AFTER LAST YEAR’S CONTROVERSY

Wemple wrote that Sanders gave to children an important lesson of “the centrality of nonaccountability mechanisms in the affairs of state” after she announced that the mock press briefing was “off the record.”

“When the children head home tonight, perhaps they can pull up archival footage to see how their questions stack up against ye olde press briefings,” he added.

“Accordingly, Sanders was doing more than just providing a fun interlude for the kids; she was headlining a reenactment, anchoring a bona fide historical site.”

— Erik Wemple

“Tuesday, after all, marked a record for number of days without a White House press briefing. Accordingly, Sanders was doing more than just providing a fun interlude for the kids; she was headlining a reenactment, anchoring a bona fide historical site.”

While some correspondents praised the White House for doing “a lot of work to welcome the children and provide “them an excellent experience,” other journalists echoed Wemple’s criticism and pointed out that Sanders hasn’t held a press briefing in over 40 days.

“Kids of WH Press Corps members are getting ready for a briefing with  @PressSec. Their parents have not had one in 45 days,” tweeted CBS News’ White House Correspondent Weijia Jiang.

REPORTER SHOUTS AT SARAH SANDERS AFTER BRIEFING: ‘DO YOUR JOB, SARAH!’

“The irony of it is that they’re pretending that the White House press briefing is a thing, and they’re pretending that this is how the White House operates, but this is not at all how the White House operates … It’s a relic of an earlier time,” another correspondent quoted by the Post said.

“The irony of it is that they’re pretending that the White House press briefing is a thing, and they’re pretending that this is how the White House operates, but this is not at all how the White House operates … It’s a relic of an earlier time.”

— a White HOuse Correspondent

The Post struck a different tune in a column earlier this year, which declared that despite the administration’s criticism of the media, President Trump was “extremely accessible.”

Wemple quoted Martha Joynt Kumar, director of the White House Transition Project, who said that Trump held 338 “short question-and-answer” sessions over his time in office, significantly more than 75 such sessions by former President Barack Obama during his first full two years in office.

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In terms of total instances of access to the media, which include interviews, short sessions, and news conferences, Trump was accessible least 577 times in his first two years in office.

Source: Fox News Politics

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