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CEO sees Bayer ‘massively’ affected by herbicide litigation

Werner Baumann, CEO of Bayer AG speaks during the annual results news conference of the German drugmaker in Leverkusen
Werner Baumann, CEO of Bayer AG speaks during the annual results news conference of the German drugmaker in Leverkusen, Germany February 27, 2019. REUTERS/Wolfgang Rattay

April 11, 2019

COLOGNE, Germany (Reuters) – Bayer’s chief executive on Thursday acknowledged the German maker of pharmaceuticals and crop chemicals was facing massive challenges from a wave of lawsuits over an alleged carcinogenic effect of its Roundup weedkiller.

“We have lost two cases in lower courts. That is why the company is massively affected. You see it in our share price,” CEO Werner Baumann said in a panel discussion at an academic business event in Cologne.

“You see it selectively, mainly here in Germany and in France – less so in the USA – in our reputational scores,” he added.

Bayer has seen about 30 billion euros ($34 billion) wiped off its market value since August, when a U.S. jury found Bayer liable because Monsanto, acquired by Bayer for $63 billion last year, had not warned of weedkiller Roundup’s alleged cancer risks.

It suffered a similar courtroom defeat last month and more than 10,000 cases are pending.

“There’s lots of politicking, campaigning and propaganda that goes entirely against the current regulatory status of our products. That has prompted U.S. lawyers to sue for damages – a big industry in the USA – following an outlier assessment of the potential risk by a subordinate organization,” Baumann added.

The U.S. Environmental Protection Agency, the European Chemicals Agency and other regulators across the globe have found that glyphosate, the active ingredient in Roundup, is not likely carcinogenic to humans.

However, the World Health Organization’s cancer arm in 2015 reached a different conclusion, classifying glyphosate as “probably carcinogenic to humans”.

Bayer is legally challenging the verdicts and has stressed that regulators across the globe have found the product to be safe.

(Reporting by Ludwig Burger; Editing by Michelle Martin)

Source: OANN

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SAP welcomes Elliott’s $1.3 billion investment; shares hit high

FILE PHOTO: SAP logo at SAP headquarters in Walldorf
FILE PHOTO: SAP logo at SAP headquarters in Walldorf, Germany, January 24, 2017. REUTERS/Ralph Orlowski/File Photo

April 24, 2019

By Douglas Busvine

FRANKFURT (Reuters) – U.S. activist investor Elliott revealed a 1.2 billion-euro ($1.3 billion) stake in SAP on Wednesday and said it supported a new management efficiency drive, sending shares in the German business software company to an all-time high.

SAP has until now escaped the attention of activist investors, steered by co-founder and Chairman Hasso Plattner who has withstood tough competition from U.S. rivals and is still the biggest shareholder in the German company with 6.5 percent.

Yet SAP has never achieved the 40 percent profit margins that Microsoft boasted at its height. It reported an adjusted operating margin of 24 percent for the first quarter as it grapples with a catch-up transition to cloud computing.

Europe’s most valuable technology company now wants to expand adjusted operating margins by a total of 5 percentage points through 2023.

“This is that magic moment that people have been waiting for where they are like, wow, nobody grows like SAP, but can I get some margin out of this growth?” Bill McDermott, the 57-year-old New Yorker who has run SAP for nine years, told Reuters.

“I think our shareholders are going to be super-psyched.”

Boosting margins in the cloud – where SAP’s subscription-based products are hosted remotely – is the holy grail for a company that still makes most of its money from license fees and maintenance for software running on customers’ on-site servers.

The Elliott stake of around 1 percent in SAP is the first German technology investment by the $34 billion U.S. hedge fund group, which has also urged industrial conglomerate Thyssenkrupp to restructure and called on utility Uniper to agree to a takeover by Fortum.

Elliott technology-team partner Jesse Cohn and portfolio manager Jason Genrich have a track record of close involvement with the firms they back, with Cohn for example taking a board seat at online marketplace eBay as part of a deal with management on a strategy review and running activist campaigns at software firms EMC and Citrix .

“Elliott fully supports the initiatives announced today,” Cohn and Genrich said in a statement.

“The company’s shares were clearly undervalued in relation to its revenue growth, and today’s announcement lays the foundation for substantial realization of value.”

SAP’s shares have underperformed rivals Oracle, Salesforce and Microsoft in the past 12 months. It trades at a forward price/earnings ratio of 21, compared to 58 at Salesforce, an all-cloud outfit, 25 at Microsoft and 15 at Oracle, according to Refinitiv data.

“SAP is in the fortunate position that a number of shareholders give us regular feedback – we welcome that feedback, which we take seriously, especially as we advance our plans to meet or beat our 2023 ambitions,” SAP said in response to the Elliott investment.

BEST DAY IN A DECADE

The pivot by McDermott came as SAP reported a quarterly operating loss of 136 million euros due to an 886 million euro up-front charge arising from the announcement in January that SAP would let go of 4,400 people.

After adjusting for that and other one-offs, non-IFRS operating profits rose by 13 percent at constant currencies to 1.47 billion euros, above expectations in a poll of 17 analysts.

Chief Financial Officer Luka Mucic said the staffing exercise, only the second major restructuring since SAP was founded by Plattner and a group of former IBM colleagues in 1972, was on track.

SAP lifted its growth forecast for non-IFRS operating profits this year to 9.5-12.5 percent at constant currencies, while also nudging up its outlook for 2020.

Its shares rose 8 percent – their biggest daily gain since Nov. 2008, adding $11 billion to its market cap. That in turn lifted the Stoxx Europe 600 Technology Index by 2.7 percent to its highest since last July.

SAP will update investors at a capital markets day on Nov. 12 in New York. It is eyeing a multi-year share buyback program as McDermott sets his sights on more than doubling the company’s market capitalization to $300 billion.

Valuing the cloud side of the business at 10 times revenues – in line with industry peers – gives a figure of $200 billion based on projected 2023 revenues, McDermott said. Add to that a core revenue multiple of 4-5 times gives another $100 billion.

“It’s just simple math,” he told Reuters.

(Additional reporting by Arno Schuetze; Editing by Michelle Martin, Kirsten Donovan/Georgina Prodhan/Jane Merriman)

Source: OANN

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Super Bowl LIII referee Parry retires, joins ESPN

Houston Texans head coach Gary Kubiak talks with Referee John Parry before challenging a Tampa Bay Buccaneers interception in Tampa
Houston Texans head coach Gary Kubiak talks with Referee John Parry before challenging a Tampa Bay Buccaneers interception during their NFL football game in Tampa, Florida November 13, 2011. REUTERS/Pierre DuCharme(UNITED STATES - Tags: SPORT FOOTBALL)

April 1, 2019

Super Bowl LIII referee John Parry has retired and is joining ESPN as an officiating analyst.

He will provide analysis from the broadcast booth on “Monday Night Football” and also will work on NFL studio shows and SportsCenter, the network announced Monday.

“John’s role will be a first for ESPN’s NFL coverage. He will educate our commentators, staff, and, most importantly, millions of fans,” said Jay Rothman, producer of the Monday night telecast, in a network statement. “John will appear on our array of studio shows throughout the season and be part of the Monday Night Football team. With the attention to replay and rules at an all-time high, he is uniquely qualified to teach, add perspective and bring clarity to fans.”

Former NFL officials Gerry Austin and Jeff Triplette previously worked for ESPN.

Parry, who became an NFL official in 2000, worked as a back judge and side judge until his promotion to referee for the 2007 season.

He officiated in the Super Bowls in 2007, 2012 and 2019.

“I will fully embrace this new position,” Parry said in the statement. “We hope to leverage 20 years of NFL officiating experience to our talent and to our great fans. Bringing clarity to a complicated game will be both challenging and rewarding. ESPN is a perfect fit based on their dedication to educating and entertaining fans.”

Al Riveron, the league’s head of officiating, wished Parry well on a league-sanctioned Twitter account on Monday.

“Referee John Parry has announced his retirement after 19 seasons & 3 Super Bowls. Thank you, John, for your dedication to the game. We wish you all the best!” Riveron wrote.

Parry’s retirement follows those of referees Triplette, Walt Coleman, Ed Hochuli, Terry McAulay, Pete Morelli and Gene Steratore over the past few years.

–Field Level Media

Source: OANN

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Mueller probe 'near the end game' amid shakeup at DOJ, sources say

Special Counsel Robert Mueller's Russia probe is wrapping up soon, and a source familiar with the investigation tells Fox News it is "near the end game" -- although there has been no formal notification to President Trump's legal team that Mueller's work is completed.

Exiting Deputy Attorney General Rod Rosenstein, who oversaw the Mueller probe for 18 months until the recent confirmation of AG William Barr, had said privately he intended to remain in his role until the Mueller report was delivered to Congress. On Tuesday, the White House announced that Deputy Secretary of Transportation Jeff Rosen would replace Rosenstein.

Sources close to the investigative process have told Fox News that the high-level shakeup at Justice -- with Barr assembling his new team, and Rosenstein planning to leave by mid-March -- is a sign that the stars are aligning for the probe's conclusion.

The DOJ has not confirmed it is planning an announcement on the inquiry, and neither Mueller's team nor the DOJ responded to Fox News' request for comment.

ROSENSTEIN, FMR FBI DIRECTOR MCCABE NEED TO TESTIFY ABOUT APPARENT PLOT TO REMOVE TRUMP, GOP SAYS

Also unclear is whether the final Mueller report will be made public. Barr testified during his confirmation hearings that, as he understands the regulations governing the special counsel, the report will be confidential – and any report that goes to Congress or the public will be authored by the attorney general.

Some Democrats sounded the alarm after Barr's testimony, with Connecticut Democratic Sen. Richard Blumenthal charging that Barr  indicated he'd exploit legal "loopholes" to hide Mueller's final report from the public and to resist subpoenas against the White House.

"I will commit to providing as much information as I can, consistent with the regulations," Barr had told Blumenthal when asked if he would ensure that Mueller's full report was publicly released.

Mueller's team is still leading several prosecutions, including against longtime Trump adviser Roger Stone on charges of witness tampering and lying to Congress, and against former national security adviser Michael Flynn, who awaits sentencing on charges he lied to FBI agents during the Russia probe. Flynn is cooperating as part of a separate Foreign Agents Registration Act case regarding lobbying work in Turkey as part of his plea deal.

Roger Stone leaves federal court Friday, Feb. 1, 2019, in Washington. Stone appeared for a status conference just three days after he pleaded not guilty to felony charges of witness tampering, obstruction and false statements. (AP Photo/Andrew Harnik)

Roger Stone leaves federal court Friday, Feb. 1, 2019, in Washington. Stone appeared for a status conference just three days after he pleaded not guilty to felony charges of witness tampering, obstruction and false statements. (AP Photo/Andrew Harnik)

The flurry of activity comes shortly after Iowa Republican Sen. Chuck Grassley -- who until recently was chairman of the Senate Judiciary Committee -- said he expected Mueller's final Russia report "within a month." Grassley later walked back those comments, saying they were based on unconfirmed news reports and rumors.

The top Republicans on the House and Senate Judiciary Committees, meanwhile, are calling for former FBI Acting Director Andrew McCabe and Rosenstein to testify before their respective panels, following McCabe's explosive claims in an interview last week that senior Justice Department officials had considered removing President Trump using the 25th Amendment.

CLICK TO GET THE FOX NEWS APP

According to McCabe, Rosenstein offered to wear a wire to record the president, seemingly confirming reports last year. Rosenstein strongly denied that allegation, calling McCabe's statements "factually incorrect."

The 25th Amendment governs the succession protocol if the president dies, resigns or becomes temporarily or permanently incapacitated. While the amendment has been invoked six times since its ratification in 1967, the specific section of the amendment purportedly discussed by top DOJ officials -- which involves the majority of all Cabinet officers and the vice president agreeing that the president is "unable" to perform his job -- has never been invoked.

Fox News' Catherine Herridge and Jake Gibson contributed to this report.

Source: Fox News Politics

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Comcast to launch new streaming video service

The Comcast NBC logo is shown on a building in Los Angeles, California
FILE PHOTO: The Comcast NBC logo is shown on a building in Los Angeles, California, U.S. June 13, 2018. REUTERS/Mike Blake

March 21, 2019

(Reuters) – Comcast Corp said Thursday it will launch a new internet streaming video service called Xfinity Flex, as the U.S. cable operator targets TV viewers who prefer watching content online over more expensive cable TV packages.

Xfinity Flex will be available starting March 26 only to Comcast’s internet customers and will cost $5 per month.

(Reporting by Sheila Dang; Editing by Cynthia Osterman)

Source: OANN

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LaView Security Introduces Premium Wireless Outdoor Camera System With Smart Station And Double The Industry-Standard Battery Life

Mason Thibault | Contributor

Are you interested in upgrading your home security? Staying hyper-connected for your security needs is the new norm, and LaView, a California based company is looking to set a new standard for premium home security.

LaView’s new ONE Link system features fantastic tech and specs for getting the job done, including HD 1080P wire-free battery cameras with easy magnetic mounting for flexible 360° angling and seamless portability. It is also very easy to use as the system comes with a Smart Station that plugs directly into the user’s router and employs a single-button synching process to connect all the wireless security cameras.

Why take a chance on home security? With LaViews ONE link, your entire security camera system can stay connected for up to six months without need for recharging!

Why take a chance on home security? With LaViews ONE link, your entire security camera system can stay connected for up to six months without need for recharging!

Why pay hundreds of dollars per camera that require constant maintenance or replacement? LaView’s OneLink system is cost effective and includes an entire WiFI ecosystem for home security 

Over the past year, LaView has developed the ONE Series – its collection of smart home- friendly, WiFi camera solutions. This series of DIY units is designed to address the one-off surveillance needs of their clients, while integrating into a single app. The ONE Link fits perfectly into this range of wireless home security cameras, promoting versatility and ease with its Smart Station.

The Smart Station is the brains of the operation for the ONE Link. Single-button synching with each wireless outdoor camera creates a secure ecosystem of WiFi coverage that doesn’t require users to reenter network credentials when connecting and disconnecting the cameras. Plus, linking via the Smart Station increases the wireless security cameras’ already long-lasting 3- month standby life to an unprecedented 6-month battery life per single charge.

The flexibility goes even further with multiple storage options. Each camera in the ONE Link system is equipped with an onboard micro SD slot that supports up to 128GB of data. That makes for easy, free recording and instant physical access to the HD footage. If local storage doesn’t suit the user, they can take advantage of LaView’s affordable cloud service for expanded data capacity and encrypted security. Or, users can choose both options to guarantee the safety and accessibility of their footage.

Thermal detection gives you unprecedented vision and mindfulness for your security needs

Thermal detection gives you unprecedented vision and mindfulness for your security needs

The ONE Link is all about giving users the freedom to change their minds. Magnetic mounting plates screw into any surface for simple installation, custom 360° angling and easy mobility. Users can place the wireless security cameras indoors, outdoors or take them on-the-go for coverage during a family vacation. Mobile versatility is a big focus for LaView as they continue to develop their ONE Series solutions. These wireless home security cameras let users have their security, their way, with the Smart Station as the link between them and the future of smart home surveillance.

Have a suggestion for a cool product or great deal that you think Daily Caller readers need to know about? Email the Daily Dealer at dealer@dailycaller.com.

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Source: The Daily Caller

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Bump Stock Ban: President’s Dangerous Precedent

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Traders work on the floor at the NYSE in New York
FILE PHOTO: Traders work on the floor at the New York Stock Exchange (NYSE) in New York, U.S., April 24, 2019. REUTERS/Brendan McDermid

April 26, 2019

By Sruthi Shankar and Amy Caren Daniel

(Reuters) – U.S. stock index futures were flat on Friday, as investors paused ahead of GDP data, which is expected to show the world’s largest economy maintained a moderate pace of growth in the first quarter.

Gross domestic product probably increased at a 2% annualized rate in the quarter as a burst in exports, strong inventory stockpiling and government investment in public construction projects offset a slowdown in consumer and business spending, according to a Reuters survey of economists.

The Commerce Department report will be published at 8:30 a.m. ET.

The GDP data comes as investors look for fresh catalysts to push the markets higher. The S&P 500 index is about 0.5% below its record high hit in late September, after surging nearly 17% this year.

First-quarter earnings have been largely upbeat, with nearly 78% of the 178 companies that have reported so far surpassing earnings estimates, according to Refinitiv data.

Wall Street now expects S&P 500 earnings to be in line with the year-ago quarter, a sharp improvement from the 2.3% fall expected at the start of April.

Amazon.com Inc rose 0.9% in premarket trading after the e-commerce giant reported quarterly profit that doubled and beat estimates on soaring demand for its cloud and ad services.

Ford Motor Co shares surged 8.5% after the automaker posted better-than-expected first-quarter earnings largely due to strong pickup truck sales in its core U.S. market.

Mattel Inc jumped 8% after the toymaker beat analysts’ estimates for quarterly revenue, as a more diverse range of Barbie dolls powered sales in the United States.

At 6:52 a.m. ET, Dow e-minis were down 35 points, or 0.13%. S&P 500 e-minis were down 1.5 points, or 0.05% and Nasdaq 100 e-minis were up 10.75 points, or 0.14%.

Among decliners, Intel Corp slumped 7.7% after it cut its full-year revenue forecast and missed quarterly sales estimate for its key data center business.

Rival Advanced Micro Devices declined 0.8%.

Oil majors Exxon Mobil Corp and Chevron Corp are expected to report results later in the day.

(Reporting by Sruthi Shankar and Amy Caren Daniel in Bengaluru; Editing by Anil D’Silva)

Source: OANN

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General view of a destroyed building during World War II is pictured in Warsaw
General view of a destroyed building during World War II is pictured in Warsaw, Poland April 26, 2019. REUTERS/Kacper Pempel

April 26, 2019

By Joanna Plucinska

WARSAW (Reuters) – Germany could owe Poland more than $850 billion in reparations for damages it incurred during World War Two and the brutal Nazi occupation, a senior ruling party lawmaker said.

Some six million Poles, including three million Polish Jews, were killed during the war and Warsaw was razed to the ground following a 1944 uprising in which about 200,000 civilians died.

Germany, one of Poland’s biggest trade partners and a fellow member of the European Union and NATO, says all financial claims linked to World War Two have been settled.

The right-wing Law and Justice (PiS) has revived calls for compensation since it took power in 2015 and has made the promotion of Poland’s wartime victimhood a central plank of its appeal to nationalism.

PiS has yet to make an official demand for reparations but its combative stance towards Germany has strained relations.

“Poland lost not only millions of its citizens but it was also destroyed in an unusually brutal way,” Arkadiusz Mularczyk, who heads the Polish parliamentary committee on reparations, told Reuters in an interview.

“Many (victims) are still alive and feel deeply wronged.”

His comments come a month before European Parliament elections in which populist and nationalist parties are expected to do well. Poland will also hold national elections later this year, with PiS still well ahead of its rivals in opinion polls.

EU LARGESSE

Mularczyk said the reparations figure could amount to more than 10 times the estimated 100 billion euros ($111 billion) that Poland has received so far in European Union funds since it joined the bloc in 2004.

Germany is the biggest net donor to the EU budget and some Germans regard its contributions as generous compensation to recipient countries like Poland which suffered under Nazi rule.

In 1953 Poland’s then-communist rulers relinquished all claims to war reparations under pressure from the Soviet Union, which wanted to free East Germany, also a Soviet satellite, from any liabilities. PiS says that agreement is invalid because Poland was unable to negotiate fair compensation.

Mularczyk said his committee hoped to complete its report on the reparations issue by Sept. 1, the 80th anniversary of Hitler’s invasion.

Accusing Berlin of playing “diplomatic games” over the issue, he said: “The matter is being swept under the rug (by Germany) … until it’ll be wiped from the memory, from people’s awareness.”

His comments come after the Greek parliament voted this month to seek billions of euros in German reparations for the Nazi occupation of their country.

(Additional reporting by Anna Wlodarczak-Semczuk, Editing by Justyna Pawlak and Gareth Jones)

Source: OANN

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FILE PHOTO - Otto Frederick Warmbier is taken to North Korea's top court in Pyongyang North Korea
FILE PHOTO – Otto Frederick Warmbier (C), a University of Virginia student who was detained in North Korea since early January, is taken to North Korea’s top court in Pyongyang, North Korea, in this photo released by Kyodo March 16, 2016. Mandatory credit REUTERS/Kyodo/File Photo

April 26, 2019

WASHINGTON (Reuters) – U.S. President Donald Trump on Friday said the United States did not pay any money to North Korea as it sought the release of comatose American student Otto Warmbier.

The Washington Post reported on Thursday that Trump had approved payment of a $2 million bill from North Korea to cover its care of the college student, who died shortly after he was returned to the United States after 17 months in a North Korean prison.

(Reporting by Makini Brice and Susan Heavey)

Source: OANN

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Al-Qaida in Yemen is vowing to avenge beheadings carried out by Saudi Arabia this week — an indication that some of the 37 Saudis executed on terrorism-related charges were members of the Sunni militant group.

Al-Qaida in the Arabian Peninsula, as the branch is called, posted a statement on militant-linked websites on Friday, accusing the kingdom of offering the blood of the “noble children of the nation just to appease America.”

The statement says al-Qaida will “never forget about their blood and we will avenge them.”

U.S. ally Saudi Arabia on Tuesday executed 37 suspects convicted on terrorism-related charges. Most were believed to be Shiites but at least one was believed to be a Sunni militant.

His body was pinned to a pole in public as a warning to others.

Source: Fox News World

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For two friends with checkered pasts it was the luck of a lifetime: a 4 million-pound ($5.2 million) lottery win.

But Mark Goodram and Jon-Ross Watson may see their celebrations cut short.

The Sun newspaper reports that Britain’s National Lottery is withholding the payout as it investigates whether the men, who have a string of criminal convictions, used illicit means to buy the winning ticket.

The Sun said neither man has a bank account, leading lottery organizers to investigate how they obtained the bank-issued debit card that paid for the 10 pound ($13) scratch card.

Camelot, which runs the lottery, said Friday it couldn’t confirm details of the story because of winner-anonymity rules. The firm said it holds a “thorough investigation” if there is any doubt about a claim.

Source: Fox News World

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