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Nicaragua reveals peace talks agenda, doesn't budge on vote

Nicaragua's government announced its agenda Saturday for talks on resolving a nearly year-old political standoff, but did not give any ground on a key opposition demand — early elections.

A Foreign Ministry statement spelled out several points including the strengthening of electoral institutions; justice and reparations; a review and release of some imprisoned protesters; and negotiations about the suspension of international sanctions.

It said the government is "committed to the strengthening of democracy and respect for the constitutional order of Nicaragua," but pointedly noted that the date for the next general election is "established" for 2021.

Opponents of President Daniel Ortega demanded he leave office and allow an early, fair vote, during widespread protests last year that prompted a government crackdown. At least 325 people died in the unrest, according to the Inter-American Commission on Human Rights.

On the 770 people the opposition considers political prisoners, the government said it would consider freeing both those awaiting judgment and others already convicted. But it added that it would "review their case files, a situation that does not imply impunity."

Talks between Ortega representatives and the opposition group Civic Alliance resumed Feb. 27, and a so-called roadmap for the negotiations was agreed upon last week.

The opposition has also called for the restoration of freedom of expression guarantees after a crackdown on independent media and a de facto ban on anti-government protests.

The government statement came a day after Roman Catholic bishops said they were declining to participate in the negotiations as observers.

The Civic Alliance said following the church's announcement that it would reflect and "reconsider" whether to continue negotiating with the government.

Jose Pallais, a member of the opposition delegation, said it would continue to assess the situation over the weekend and called on the government to make "overwhelming gestures to give legitimacy and recognition to the process of negotiation."

"The government came out and published its agenda because the bishops' refusal to participate in the dialogue puts at risk its strategy of buying time, and it wants to avoid having the Civic Alliance walk away from the negotiation," said Monica Baltodano, a former commander in Ortega's Sandinista movement who switched to the opposition 20 years ago.

Also Saturday, the Organization of American States said it had designated a special envoy to Nicaragua who, "at the request of the government," will meet on Monday with delegates to the talks to discuss possible OAS participation.

Source: Fox News World

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First asylum seekers returned from Mexico for U.S. court hearings

Honduran migrant Ariel, 19, who is waiting for his court hearing for asylum seekers returned to Mexico to wait out their legal proceedings under a new policy change by the U.S. government, is pictured after an interview with Reuters in Tijuana
Honduran migrant Ariel, 19, who is waiting for his court hearing for asylum seekers returned to Mexico to wait out their legal proceedings under a new policy change by the U.S. government, is pictured after an interview with Reuters in Tijuana, Mexico March 18, 2019. Picture taken March 18, 2019. REUTERS/Jorge Duenes

March 19, 2019

By Lizbeth Diaz and Mica Rosenberg

TIJUANA/NEW YORK (Reuters) – A group of asylum seekers sent back to Mexico was set to cross the border on Tuesday for their first hearings in U.S. immigration court in an early test of a controversial new policy from the Trump administration.

The U.S. program, known as the Migrant Protection Protocols (MPP), turns people seeking protection in the United States around to wait out their U.S. court proceedings in Mexican border towns. Some 240 people – including families – have been returned since late January, according to U.S. officials.

Court officials in San Diego referred questions about the number of hearings being held on Tuesday to the U.S. Department of Homeland Security, which did not respond to a request for comment. But attorneys representing a handful of clients were preparing to appear in court.

Migrants like 19-year-old Ariel, who said he left Honduras because of gang death threats against himself and his family, were preparing to line up at the San Ysidro port of entry first thing Tuesday morning.

Ariel, who asked to use only his middle name because of fears of reprisals in his home country, was among the first group of asylum-seeking migrants sent back to Mexico on Jan. 30 and given a notice to appear in U.S. court in San Diego.

“God willing everything will move ahead and I will be able to prove that if I am sent back to Honduras, I’ll be killed,” Ariel said.

While awaiting his U.S. hearing, Ariel said he was unable to get a legal work permit in Mexico but found a job as a restaurant busboy in Tijuana, which does not pay him enough to move out of a shelter.

The American Civil Liberties Union (ACLU) and other advocacy groups are suing in federal court to halt the MPP program, which is part of a series of measures the administration of President Donald Trump has taken to try to curb the flow of mostly Central American migrants trying to enter the United States.

The Trump administration says most asylum claims, especially for Central Americans, are ultimately rejected, but because of crushing immigration court backlogs people are often released pending resolution of their cases and live in the United States for years. The government has said the new program is aimed at ending “the exploitation of our generous immigration laws.”

Critics of the program say it violates U.S. law and international norms since migrants are sent back to often dangerous towns in Mexico in precarious living situations where it is difficult to get notice about changes to U.S. court dates and to find legal help.

Immigration advocates are closely watching how the proceedings will be carried out this week, especially after scheduling glitches created confusion around three hearings last week, according to a report in the San Diego Union Tribune.

The Executive Office for Immigration Review (EOIR), which runs U.S. immigration courts under the Department of Justice, said only that it uses its regular court scheduling system for the MPP hearings and did not respond to a question about the reported scheduling problems.

Gregory Chen, director of government relations at the American Immigration Lawyers Association, said there are real concerns about the difficulties of carrying out this major shift in U.S. immigration policy.

“The government did not have its shoes tied when they introduced this program,” he said.

(Reporting by Lizbeth Diaz in Tijuana and Mica Rosenberg in New York; Editing by Bill Trott)

Source: OANN

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Abortion: Tennessee Lawmakers Advance Fetal Heartbeat Bill

A bill that would ban most Tennessee women from obtaining abortions once a fetus' heartbeat is detected cleared a key hurdle Tuesday, advancing for a full House vote in the GOP-dominated Legislature.

The move comes amid a national movement from anti-abortion legislators and activists who hope that President Donald Trump's appointments to the Supreme Court will increase their chances of undermining abortion rights.

Tennessee is among several states with pending bills to ban most abortions once a fetal heartbeat is detected, about six weeks into pregnancy. The goal is to trigger a legal challenge to the 1973 Roe v. Wade ruling that established a nationwide right to abortion and possibly upend the ruling that established a woman's right to an abortion, as well as other rulings that have determined states cannot place undue burdens on a woman's constitutional right to abortion before a fetus is viable — typically between 24 and 28 weeks.

"This is an issue that has been on my heart my whole life," said Rep. Micah Van Huss, a Republican sponsoring the bill, during Tuesday's hearing. "I aim to save babies lives."

Republicans on the House Health Committee voted 15-4 to send the legislation to the House floor for a full vote, sparking heavy applause from supporters. Only Democratic members voted in opposition. While the bill still has to clear the House floor and the Senate, the bill is expected to win support from Republicans. Furthermore, first-term Gov. Bill Lee has promised his support if the bill reaches his desk.

Advocates on both sides of the issue packed the room to watch lawmakers spar over possible legal challenges and discuss hypothetical situations of women being forced to carry a baby to term even in cases of rape or incest.

By the meeting's close, many were breaking out in cheers and jeers in response to lawmakers' comments.

"I have three girls. I've raised them to be independent so no boy tells them what to do. Well, except for me," said Democratic Rep. Darren Jernigan. "But I've also said they're in control of their bodies and it bothers me the government would tell them what to do and it bothers me the bill is likely unconstitutional."

When asked if it would be acceptable for a 15-year-old student who was raped by her coach to be barred from having an abortion if she was past the six-week viability marker because a fetus's heartbeat was detected, Van Huss simply said 'yes.'

He responded similarly when asked if he agreed that the same ban should be in place in cases of incest.

"It is not up to me to determine someone else's life," Van Huss said.

Critics of the bill predict enactment of the fetal heartbeat measure would trigger an immediate legal challenge, warning that an Iowa judge struck down a similar law last month. In Mississippi, a federal judge declared banning abortion after 15 weeks was unconstitutional.

"On the one hand, sensibly speaking, this is unconstitutional and it's going to cost taxpayers dollars. While on the other hand, litigation would most surely help to uphold Roe v. Wade as the continued law of the land for women's health and privacy protections," said Francie Hunt, executive director of Tennessee Advocates for Planned Parenthood.

Even the state's top anti-abortion group, Tennessee Right to Life, has opposed the bill due to the surrounding legal concerns. In 2017, the group testified before lawmakers that its opposition stemmed from Supreme Court rulings banning criminalizing abortion prior to viability. Right to Life has been more subdued in airing concerns surrounding this year's bill, arguing Tennessee should let other states fight the legal battle.

"A woman should be able to make decisions about what is best for her health and her family in consultation with her doctor and her loved ones, without politicians interfering or trying to force her hand," said Hedy Weinberg, executive director of the American Civil Liberties Union of Tennessee.

Added Weinberg in a statement: "If this bill passes, the ACLU of Tennessee stands ready to file a lawsuit immediately."

Source: NewsMax Politics

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Hyundai Motor, Kia to invest $300 million in India’s Ola

FILE PHOTO: The Hyundai logo is seen during the first press day of the Paris auto show
FILE PHOTO: The Hyundai logo is seen during the first press day of the Paris auto show, in Paris, France, Oct. 2, 2018. REUTERS/Regis Duvignau/File Photo

March 19, 2019

(Reuters) – South Korean automakers Hyundai Motor Co and Kia Motors Corp will together invest $300 million in Indian ride-hailing platform Ola, playing catch-up in the global race to invest in mobility firms.

The move follows the $275 million that the pair invested in Singapore-based ride-hailing firm Grab last year.

Hyundai, Kia and Ola will collaborate to develop fleet and mobility solutions, electric vehicles and infrastructure specific to the Indian market, they said in a joint statement.

The deal, Hyundai and Kia’s biggest combined investment, marks Hyundai’s foray into fleet vehicles.

Hyundai is one of the biggest automakers operating in India, where affiliate Kia plans to start production this year at its first factory in the country.

Ola’s other investors include SoftBank Group Corp and Tencent Holdings Ltd.

(Reporting by Tanvi Mehta in BENGALURU and Hyunjoo Jin in SEOUL; Editing by Subhranshu Sahu and Christopher Cushing)

Source: OANN

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‘Targeted’ shootings that left 4 dead in Canada may have stemmed from reported neighbor dispute

Four people were shot dead in 3 separate locations across a city in western Canada in a series of "targeted" attacks on Monday that may have all been sparked by a neighborhood dispute, according to a wife of one of the victims.

Royal Canadian Mounted Police Supt. Ted De Jager said at a news conference the killing spree began around 10:30 a.m. outside a home in downtown Penticton, British Columbia.

As authorities were responding to the initial shooting, a second call of another incident came in from the south end of the city. When authorities went to the home involved in the second shooting, they discovered the bodies of 3 people in two locations.

By 11:30 a.m., a 60-year-old man turned himself in at the front desk of an RCMP station in the city, CBC News reported.

ILLEGAL IMMIGRANT CHARGED IN 5 DEATHS IN MISSOURI, KANSAS FOUND DEAD IN JAIL CELL, SHERIFF SAYS

“We’re still trying to find the motive for this whole incident, so that’s part of the ongoing investigation," De Jager said. "Indications right now are that all four were targeted.”

Royal Canadian Mounted Police officers work outside a scene in Penticton, British Columbia, Monday, April 15, 2019.

Royal Canadian Mounted Police officers work outside a scene in Penticton, British Columbia, Monday, April 15, 2019. ((Jeff Bassett/The Canadian Press via AP)

The four victims -- two men and two women -- were all killed within a 3-mile radius.

Renate Winter, the wife of the first victim – 71-year-old Rudi Winter – told the Vancouver Sun she believed the shootings were likely linked to a neighborhood dispute.

Winter said that she and her husband lived next to the estranged wife of the alleged gunman and had a contentious relationship.

“We cut a tree down in our yard and she had a fit, so anytime we did anything she had a fit, so we don’t talk to her,” she told the Vancouver Sun. “She called the cops because my husband was putting rocks in between our properties, and maybe his big toe went on her property.”

CANADIAN PROVINCE CONSIDERS MANDATORY ANNUAL MATH TESTS FOR ALL PUBLIC SCHOOL TEACHERS: REPORTS

De Jager, who called the shootings a "deeply troubling incident," offered no additional details on how the victims knew each other or a possible motive. Charges are still pending against the man who turned himself in.

Canadian police said a 60-year-old man is in custody after shootings that left several dead in Penticton, British Columbia on Monday.

Canadian police said a 60-year-old man is in custody after shootings that left several dead in Penticton, British Columbia on Monday. (Jeff Bassett/The Canadian Press via AP)

He did confirm that neither of the female victims was the alleged gunman's ex-wife, the Penticton Western News reported.

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Such gun violence is rare in Canada. The shootings on Monday were the deadliest killings in city history, and the sixth deadliest in modern province history, according to the Penticton Western News.

The Associated Press contributed to this report.

Source: Fox News World

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Trump's Budget Revives Border Battle

President Donald Trump is reviving his border wall fight, preparing a new budget that will seek $8.6 billion for his signature project, impose steep spending cuts to other domestic programs and set the stage for another fiscal battle.

Budget documents like the one Trump is releasing Monday are often seen as just a starting point of negotiation. Fresh off the longest government shutdown in history, Trump's 2020 proposal shows he is eager to confront Congress again to boost defense spending and cut $2.7 trillion in nondefense spending over a decade.

Titled "A Budget for a Better America: Promises Kept. Taxpayers First," Trump's proposal "embodies fiscal responsibility," said Russ Vought, the acting director of the Office of Management and Budget.  

Vought said the administration has "prioritized reining in reckless Washington spending" and shows "we can return to fiscal sanity."

Two administration officials confirmed that the border wall request was part of Trump's spending blueprint for the 2020 budget year, which begins Oct. 1. It would pay for hundreds of miles of new barriers along the border.

Trump's budget proposes increasing defense spending to $750 billion — and standing up the new Space Force as a military branch — while reducing nondefense accounts by 5 percent, with cuts recommended to safety-net programs used by many Americans.

The plan sticks to budget caps that both parties have routinely broken in recent years and promises to come into balance in 15 years, relying in part on economic growth that may be uncertain.

The officials were not authorized to discuss budget details publicly before Monday's release of the plan and spoke on condition of anonymity.

While pushing down spending in some areas, including the Environmental Protection Agency, the proposal will seek to increase funding in others to align with the president's priorities, according to one official.

The administration will invest more than $80 billion for veterans services, a nearly 10 percent increase from current levels, including "significant" investments in rehabilitation, employment assistance and suicide prevention.

It will also increase resources to fight the opioid epidemic with money for prevention, treatment, research and recovery, the administration said. And it seeks to shift some federal student loan costs to colleges and universities.

By adhering to strict budget caps, Trump is signaling a fight ahead. The president has resisted big, bipartisan budget deals that break the caps — threatening to veto one last year — but Congress will need to find agreement on spending levels to avoid another federal shutdown in fall. To stay within the caps, the budget shifts a portion of the defense spending to an overseas contingency fund, which some fiscal hawks will view as an accounting gimmick.

White House economic adviser Larry Kudlow said Trump's budget "points a steady glide path" toward lower spending and borrowing as a share of the nation's economy. He also told "Fox News Sunday" that there was no reason to "obsess" about deficits, and expressed confidence that economic growth would top 3 percent in 2019 and beyond. Others have predicted lower growth.

But the Democratic chairman of the House Budget Committee, Rep. John Yarmuth of Kentucky, called the proposed cuts to essential services "dangerous." He said Trump added nearly $2 trillion to deficits with the GOP's "tax cuts for the wealthy and large corporations, and now it appears his budget asks the American people to pay the price."

The border wall, though, remains a signature issue for the president and is poised to stay at the forefront of his agenda, even though Congress has resisted giving him more money for it.

Leading Democrats immediately rejected the proposal.

"Congress refused to fund his wall and he was forced to admit defeat and reopen the government. The same thing will repeat itself if he tries this again," said House Speaker Nancy Pelosi, D-Calif., and Senate Democratic leader Chuck Schumer of New York. They said the money "would be better spent on rebuilding America."

In seeking $8.6 billion for more than 300 miles of new border wall, the budget request would more than double the $8.1 billion already potentially available to the president for the wall after he declared a national emergency at the border last month in order to circumvent Congress — although there's no guarantee he'll be able to use that money if he faces a legal challenge, as is expected. The standoff over the wall led to a 35-day partial government shutdown, the longest in U.S. history.

Along with border wall money, the proposed budget will also increase funding to increase the "manpower" of Immigration and Customs Enforcement officers and Customs and Border Patrol at a time when many Democrats are calling for cuts — or even the elimination — of those areas. The budget also proposes policy changes to end sanctuary cities, the administration said.

The budget would arrive as the Senate readies to vote this week to terminate Trump's national emergency declaration. The Democratic-led House already did so, and a handful of Republican senators, uneasy over what they see as an overreach of executive power, are expected to join Senate Democrats in following suit. Congress appears to have enough votes to reject Trump's declaration but not enough to overturn a veto.

Trump invoked the emergency declaration after Congress approved nearly $1.4 billion for border barriers, far less than the $5.7 billion he wanted. In doing so, he can potentially tap an additional $3.6 billion from military accounts and shift it to building the wall. That's causing discomfort on Capitol Hill, where even the president's Republican allies are protective of their power to decide how to allocate federal dollars. Lawmakers are trying to guard money that's already been approved for military projects in their states — for base housing or other improvements — for the wall. The administration is promising to backfill those funds, senators said.

The wall with Mexico punctuated Trump's campaign for the White House, and it's expected to again be featured in his 2020 re-election effort. He used to say Mexico would pay for it, but Mexico has refused to do so.

Source: NewsMax Politics

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Ethiopian Airlines grounds all Boeing 737 Max 8 planes

Ethiopian Airlines has grounded all of its Boeing 737 Max 8 aircraft as "an extra safety precaution" following the crash of one of its planes in which 157 people were killed, a spokesman said Monday, as Ethiopia marked a day of mourning and the search for remains began for a second day.

Although it wasn't yet known what caused the crash of the new plane in clear weather outside Addis Ababa on Sunday, the airline decided to ground its remaining four 737 Max 8s until further notice, spokesman Asrat Begashaw said. Ethiopian Airlines was using five of the planes and was awaiting delivery of 25 more.

Some others around the world were deciding to do the same. China's civilian aviation authority ordered all Chinese airlines to temporarily ground their Max 8s, and Caribbean carrier Cayman Airways said it was temporarily grounding the two it operates.

After sunrise, Red Cross workers slowly picked through the widely scattered debris near the blackened crash crater, looking for the remains of 157 lives. A shredded book. Business cards in multiple languages. Heavy machinery dug for larger pieces of the plane.

Asrat said forensic experts from Israel had arrived in Ethiopia to help with the investigation. Ethiopian authorities lead the investigation into the crash, assisted by the U.S., Kenya and others.

"These kinds of things take time," Kenya's transport minister, James Macharia, told reporters Monday morning.

People from 35 countries died in the Sunday morning crash six minutes after the plane took off from Ethiopia's capital en route to Nairobi. Ethiopian Airlines said the senior pilot issued a distress call and was told to return but all contact was lost shortly afterward. The plane plowed into the ground at Hejere near Bishoftu.

Kenya lost 32 people, more than any country. Relatives of 25 of the victims had been contacted, Macharia said, and taking care of their welfare was of utmost importance.

"Some of them, as you know, they are very distressed," he said. "They are in shock like we are. They are grieving."

Canada, Ethiopia, the U.S., China, Italy, France, Britain, Egypt, Germany, India and Slovakia all lost four or more citizens.

Shocked leaders of the United Nations, the U.N. refugee agency and the World Food Program announced that colleagues had been on the plane. The U.N. migration agency estimated that 19 U.N.-affiliated employees were killed.

Both Addis Ababa and Nairobi are major hubs for humanitarian workers, and many people were on their way to a large U.N. environmental conference set to begin Monday in Nairobi. The U.N. flag at the event flew at half-staff.

The crash was strikingly similar to that of a Lion Air jet of the same Boeing model in Indonesian seas last year, killing 189 people. The crash was likely to renew questions about the 737 Max 8, the newest version of Boeing's popular single-aisle airliner, which was first introduced in 1967 and has become the world's most common passenger jet.

Safety experts cautioned against drawing too many comparisons between the two crashes until more is known about Sunday's disaster.

The Ethiopian plane was new, delivered to the airline in November. The jet's last maintenance was on Feb. 4, and it had flown just 1,200 hours.

The crash shattered more than two years of relative calm in African skies, where travel had long been chaotic. It also was a serious blow to state-owned Ethiopian Airlines, which has expanded to become the continent's largest and best-managed carrier and turned Addis Ababa into the gateway to Africa.

___

Follow Africa news at https://twitter.com/AP_Africa

Source: Fox News World

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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)

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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)

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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

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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)

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