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In fresh blow to Monsanto, India cuts GM cotton seed royalty

FILE PHOTO: Monsanto logo is displayed on a screen where the stock is traded on the floor of the NYSE
FILE PHOTO: Monsanto logo is displayed on a screen where the stock is traded on the floor of the New York Stock Exchange (NYSE) in New York City, U.S. on May 9, 2016. REUTERS/Brendan McDermid

March 11, 2019

By Mayank Bhardwaj

NEW DELHI (Reuters) – India has cut the royalties that local seed companies pay to German drugmaker Bayer AG’s Monsanto unit for the third time in four years.

Prime Minister Narendra Modi’s government has decided to reduce royalties paid by Indian seed companies to Monsanto for its genetically modified (GM) cotton by 49 percent to 20 rupees for a packet of 450 grams, according to a farm ministry order. Before it was 39 rupees.

The decision could prompt Monsanto and other foreign seed companies to further scale back investment in the sector, said Ram Kaundinya, director general of the Federation of Seed Industry of India.

The decision comes at a time when India’s cotton output is falling and needs a breakthrough to help maintain its leading position in the global cotton market, said Kaundinya.

New Delhi’s cotton output is likely to fall to 32.8 million bales of 170 kg each in the year to September 2019 – the lowest in nine years, triggering higher imports of the fiber, according to industry group Cotton Association of India.

“The order is most disappointing,” said Shivendra Bajaj, executive director of the alliance for Agri Innovation, an advocacy group.

Other than cutting Monsanto’s royalties, the government raised the prices of GM cotton seeds by 1.43 percent to 710 rupees ($10.16) a packet.

New Delhi approved Monsanto’s GM cotton seed trait, the only lab-altered crop allowed in India, in 2003 and an upgraded variety in 2006, helping transform the country into the world’s top producer and second-largest exporter of the fiber.

Monsanto’s GM cotton seed technology went on to dominate 90 percent of India’s cotton acreage.

However, Monsanto became embroiled in a dispute with Indian seed company Nuziveedu Seeds Ltd (NSL), which argued that India’s Patent Act did not allow Monsanto any patent cover for its GM cotton. Monsanto and NSL are engaged in a maze of arbitration proceedings and legal cases.

Last month Reuters reported that Monsanto has won proceedings against NSL in a royalty dispute.

The farm ministry first cut Monsanto’s royalties in 2016, triggering a long-running feud that prompted the U.S. ambassador to India at the time, Richard Verma, to approach Modi’s office.

Hindu nationalist groups close to Modi’s ruling Bharatiya Janata Party have opposed both Monsanto and GM technology in India’s agriculture. (https://reut.rs/2p7eIrE)

(Reporting by Mayank Bhardwaj; additional reporting by Rajendra Jadhav in MUMBAI; Editing by Martin Howell and David Evans)

Source: OANN

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Brazil central bank chief says needs time to analyze mounting economic risks

Senior banking executive Roberto Campos Neto, nominee by Brazilian President Jair Bolsonaro to head the Brazil's Central Bank, participates a meeting at CAE of the Brazilian Federal Senate in Brasilia
FILE PHOTO: Senior banking executive Roberto Campos Neto, nominee by Brazilian President Jair Bolsonaro to head the Brazil's Central Bank, participates a meeting at Economic Affairs Committee (CAE) of the Brazilian Federal Senate in Brasilia, Brazil February 26, 2019. REUTERS/Ueslei Marcelino

March 28, 2019

By Jamie McGeever

BRASILIA (Reuters) – Brazil’s central bank will take its time analyzing the economic impact from an increasing number of shocks from abroad and rising political tension at home that appear to be slowing the government’s reform process, its president said on Thursday.

In his first press conference as central bank chief, Roberto Campos Neto also said that volatility and uncertainty have increased lately, but noted that the current global economic slowdown is not severe enough to threaten global liquidity.

Speaking after the central bank cut its 2019 economic growth forecast to 2.0 percent from 2.4 percent in its quarterly inflation report, Campos Neto said policymakers must look through short-term market, economic and political volatility when deciding policy.

“Regarding recent shocks, the main message is inflation risks are now symmetrical, down from asymmetrical (to the upside), so we need more time,” he told reporters, noting that this signals policymakers have no bias regarding their next move.

Specifically, growth and inflationary pressures have weakened recently due to persistent slack in the Brazilian economy, a global slowdown, and rising uncertainty over domestic reforms, he added.

Campos Neto said he is confident the government’s signature plan to slash social security spending will be approved, but admitted that the political environment had deteriorated recently and market optimism has diminished.

This has slammed Brazilian markets, prompting the central bank to carry out a $1 billion repurchase operation to relieve pressure on the real. This is an “appropriate” step at the appropriate time, Campos Neto said, and does not represent a change in strategy.

Interest rate traders are almost fully discounting a central bank rate hike from the current record low 6.50 percent within the next year. Last week, they attached a 50-50 probability rates would be cut.

(Reporting by Jamie McGeever; Editing by Chizu Nomiyama and Richard Chang)

Source: OANN

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Marine killed, 2 others injured in Camp Pendleton tactical vehicle accident

A Marine was killed and two others were injured in a tactical vehicle accident at Camp Pendleton in California during the weekend, officials said.

The Marine Corps announced Monday the serviceman was one of three members of the elite Marine Raiders unit involved in the accident during a unit training exercise.

The Marine Raider suffered critical injuries and was medically evacuated to a hospital, but died Sunday night.

MARINE ACCUSED OF SHOOTING, KILLING ANOTHER MARINE IN SOUTH CAROLINA

"Our thoughts are with his family and teammates," Marine Corps Forces Special Operations Command said on Twitter.

A Marine was killed and two others were injured in a tactical vehicle accident over the weekend at Camp Pendleton in California.

A Marine was killed and two others were injured in a tactical vehicle accident over the weekend at Camp Pendleton in California. (U.S. Marine Corps photo by Lance Cpl. Nathaniel Q. Hamilton)

The Marine’s identity is being withheld pending notification of next of kin, according to base officials. The two other Marine Raiders received minor injuries.

CAMP PENDLETON MARINE MISSING IN CALIFORNIA MOUNTAINS LIKELY DIED, MARINE CORPS SAYS

An investigation into the deadly incident is underway.

CLICK HERE FOR THE FOX NEWS APP

The death was the second tragedy at Camp Pendleton in less than a week.

Last week, the Marine Corps announced a missing Marine from Camp Pendleton, who failed to return from a ski trip through California’s rugged Sierra Nevada, likely died of exposure from severe winter weather.

Source: Fox News National

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Tiny Japanese baby is ready to go home after 5 months

A tiny Japanese baby who weighed just 258 grams (9 ounces) when he was born five months ago is going home from the hospital.

Ryusuke Sekino was shown on Japanese TV on Friday sitting in his mother's arms, looking somberly around at media cameras.

His mother told reporters she was worried and cried a lot at first because he was so fragile and had transparent skin. She said she now is able to breastfeed him and is looking forward to taking him home on Saturday and giving him a bath.

The University of Iowa keeps a Tiniest Babies Registry, which shows the previous smallest surviving boy weighed 268 grams (9.5 ounces) when he was born last year in Japan. A German girl born in 2015 weighed 252 grams (8.9 ounces).

Source: Fox News World

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Volkswagen’s Skoda Auto: cannot repeat 2018 pay hikes in new round of bargaining

89th Geneva International Motor Show in Geneva
FILE PHOTO: A Skoda logo is displayed at the 89th Geneva International Motor Show in Geneva, Switzerland March 5, 2019. REUTERS/Pierre Albouy

March 20, 2019

MLADA BOLESLAV, The Czech Republic (Reuters) – Volkswagen’s Czech unit Skoda Auto does not expect to repeat the strong wage growth agreed in 2018 again in the latest round of collective bargaining, a board member said on Wednesday.

“The current situation in the automotive industry as well as the pressure regarding costs and investments are primarily the result of legal changes and regulatory measures,” Bohdan Wojnar, who is responsible for Skoda’s human resources, said at its annual results news conference.

“Against this backdrop it is clear that we cannot allow results similar to that of 2018 in this year’s collective bargaining.”

The average production wage grew 14 percent in 2018 and it is up by 25 percent in the last two years, Skoda said.

(Reporting by Jason Hovet, Writing by Robert Muller)

Source: OANN

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Businessman pleads not guilty in slaying of brother's family

A New Jersey businessman accused of killing his brother, his brother's wife and two children has pleaded not guilty to felony murder and other charges.

A public defender for Paul Caneiro entered the pleas Monday during a hearing in Freehold. Caneiro had previously been represented by private attorneys who maintained his innocence, but they have withdrawn from the case due to conflicts of interest.

An indictment unsealed last month charges Caneiro with murder, felony murder, aggravated arson and a weapons offense. He also faces counts of theft, misapplication of entrusted property and hindering his own apprehension.

The charges stem from the deaths of Keith Caneiro; his wife, Jennifer, and their two young children. Their bodies were found after a fire broke out at their Colts Neck home Nov. 20.

Source: Fox News National

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FILE PHOTO: The Huawei logo is pictured outside its Huawei's factory campus in Dongguan, Guangdong province
FILE PHOTO: The Huawei logo is pictured outside its Huawei’s factory campus in Dongguan, Guangdong province, China, March 25, 2019. REUTERS/Tyrone Siu/File Photo

April 26, 2019

By Ben Blanchard

BEIJING (Reuters) – Britain must get to the bottom of the leak of confidential discussions during a top-level security meeting about the role of China’s Huawei Technologies in 5G network supply chains, British finance minister Philip Hammond said on Friday.

News that Britain’s National Security Council, attended by senior ministers and spy chiefs, had agreed on Tuesday to bar Huawei from all core parts of the country’s 5G network and restrict its access to non-core elements was leaked to a national newspaper.

The leak of secret discussions has sparked anger in parliament and amongst Britain’s intelligence community. Britain’s most senior civil servant Mark Sedwill has launched an inquiry and written to ministers who were at the meeting.

“My understanding from London (is) that an investigation has been announced into apparent leaks from the NSC meeting earlier this week,” said Hammond, speaking on the sidelines of a summit on China’s Belt and Road initiative in Beijing.

“To my knowledge there has never been a leak from a National Security Council meeting before and therefore I think it is very important that we get to the bottom of what happened here,” he told Reuters in a pooled interview.

British culture minister Jeremy Wright said on Thursday he could not rule out a criminal investigation. The majority of the ministers at the NSC meeting have said they were not involved, according to media reports.

Hammond said he was unaware of any previous leak from a meeting of the NSC.

“It’s not about the substance of what was apparently leaked. It’s not earth-shattering information. But it is important that we protect the principle that nothing that goes on in national security council meetings must ever be repeated outside the room.”

Allowing Huawei a reduced role in building its 5G network puts Britain at odds with the United States which has told allies not to use its technology at all because of fears it could be a vehicle for Chinese spying. Huawei has categorically denied this.

There have been concerns that the NSC’s conclusion, which sources confirmed to Reuters, could upset other allies in the world’s leading intelligence-sharing network – the Five Eyes alliance of the United States, Britain, Australia, Canada and New Zealand.

However, British ministers and intelligence officials have said any final decision on 5G would not put critical national infrastructure at risk. Ciaran Martin, head of the cyber center of Britain’s main eavesdropping agency, GCHQ, played down any threat of a rift in the Five Eyes alliance.

(Writing by Michael Holden; Editing by Mark Heinrich)

Source: OANN

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Park Yoo-chun, a K-pop idol singer, arrives at the Suwon district court in Suwon
Park Yoo-chun, a K-pop idol singer, arrives at the Suwon district court in Suwon, South Korea, April 26, 2019. REUTERS/Kim Hong-Ji

April 26, 2019

SEOUL (Reuters) – K-pop and drama star Park Yu-chun was arrested on Friday on charges of buying and using illegal drugs, a court said, the latest in a series of scandals to hit the South Korean entertainment business.

Suwon District Court approved the arrest warrant for Park, 32, due to concerns over possible destruction of evidence and flight risk, a court spokesman told Reuters.

Park is suspected of having bought about 1.5 grams of methamphetamine with his former girlfriend earlier this year and using the drug around five times, an official at the Gyeonggi Nambu Provincial Police Agency said.

Park has denied wrongdoing, saying he had never taken drugs, and he again denied the charges in court, Yonhap news agency said.

Park’s contract with his management agency had been canceled and he would leave the entertainment industry, Park’s management agency, C-JeS Entertainment, said on Wednesday.

Park was a member of boyband TVXQ between 2003 and 2009 before leaving the group with two other members, forming the group JYJ.

A scandal involving sex tapes, prostitutes and secret chat about rape led at least four other K-pop stars to quit the industry earlier this year.

The cases sparked a nationwide drugs bust and investigations into tax evasion and police collusion at night clubs and other nightlife spots.

(Reporting by Joyce Lee; Additional reporting by Heekyong Yang; Editing by Nick Macfie)

Source: OANN

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FILE PHOTO: An American Airlines Boeing 737 MAX 8 flight taxis after landing at Reagan National Airport in Washington
FILE PHOTO: An American Airlines Boeing 737 MAX 8 flight from Los Angeles taxis after landing at Reagan National Airport shortly after an announcement was made by the FAA that the planes were being grounded by the United States over safety issues in Washington, U.S. March 13, 2019. REUTERS/Joshua Roberts/File Photo

April 26, 2019

(Reuters) – American Airlines Group Inc cut its 2019 profit forecast on Friday, saying it expected to take a $350 million hit from the grounding of Boeing’s 737 MAX planes after cancelling 1,200 flights in the first quarter.

The company said it now expects its 2019 adjusted profit to be between $4.00 per share and $6.00 per share.

Analysts on average had expected 2019 earnings of $5.63 per share, according to Refinitiv data.

The No. 1 U.S. airline by passenger traffic said net income rose to $185 million, or 41 cents per share, in the first quarter ended March 31, from $159 million, or 34 cents per share, a year earlier.

Total operating revenue rose 2 percent to $10.58 billion.

(Reporting by Sanjana Shivdas in Bengaluru)

Source: OANN

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2020 Democratic presidential candidate Pete Buttigieg speaks at a campaign event in Des Moines, Iowa
2020 Democratic presidential candidate Pete Buttigieg speaks at a campaign event in Des Moines, Iowa, U.S., April 16, 2019. REUTERS/Elijah Nouvelage

April 26, 2019

By James Oliphant

MARSHALLTOWN, Iowa (Reuters) – Four years ago, Donald Trump campaigned in small towns like Marshalltown, Iowa, vowing to restore economic prosperity to the U.S. heartland.

In his bid to replace Trump in the White House, Pete Buttigieg is taking a similar tack. The difference, he says, is that he can point to a model of success: South Bend, Indiana, the revitalized city where he has been mayor since 2012.

The Democratic presidential contender has vaulted to the congested field’s top tier in recent weeks, drawing media and donor attention for his youth, history-making status as the first openly gay major presidential candidate and a resume that includes military service in Afghanistan.

But Buttigieg’s main argument for his candidacy is that he is a turnaround artist in the mold of Trump, although the Democrat does not expressly invoke the comparison with the Republican president.

“I’m not going around saying we’ve fixed every problem we’ve got,” Buttigieg, 37, said after a house party with voters in Marshalltown. “But I’m proud of what we have done together, and I think it’s a very powerful story.”

Critics argue improving the fortunes of a Midwestern city of 100,000 people does not qualify Buttigieg, who has never held national office, for the presidency of a country of 330 million. Others say South Bend still has pockets of despair and that minorities, in particular, have failed to benefit from its growth.

Buttigieg has told crowds in Iowa and elsewhere that his experience in reviving a struggling Rust Belt community allows him to make a case to voters that other Democratic candidates cannot. That may give him the means to win back some of the disaffected Democratic voters who turned their backs on Hillary Clinton in 2016 to vote for Trump.

Watching Buttigieg at a union hall in Des Moines last week, Rick Ryan, 45, a member of the United Steelworkers, lamented how many of his fellow union workers voted for Trump. The president turned in the best performance by a Republican among union households since Ronald Reagan in 1984.

Ryan said he hoped someone like Buttigieg could return them to the Democratic fold.

“He’s aware of the decline in the labor force in America, not just in Indiana or Des Moines or anywhere else,” Ryan said. “Jobs are going overseas. We need a find to way to bring that back.”

Randy Tucker, 56, of Pleasant Hill, Iowa, a member of the International Brotherhood of Electrical Workers, said Trump appealed to union members “desperate for somebody to reach out to them, to help them, to listen to their voice.”

Buttigieg could do the same, he said. “In my heart right now, he’s No. 1.”

PAST VS. FUTURE

Buttigieg stresses a key difference in his and Trump’s approaches.

Trump, he tells crowds, is mired in the past, promising to rebuild the 20th century industrial economy. Buttigieg argues the pledge is misleading and unrealistic.

Buttigieg says his focus is on the future, and he often talks about what the country might look like decades from now.

“The only way that we can cultivate what makes America great is to look to the future and not be afraid of it,” Buttigieg said in Marshalltown.

Buttigieg knows his sexual preference may be a barrier to winning some blue-collar voters. But he notes that after he came out as gay in 2015, he won a second term as mayor with 80 percent of the vote in conservative Indiana.

Earlier this month, he announced his presidential bid at the hulking plant in South Bend that stopped making Studebaker autos more than 50 years ago. After lying dormant for decades, the building is being transformed into a high-tech hub after Buttigieg and other city leaders realized it would never again attract a large-scale industrial company.

“That building sat as a powerful reminder. We hoped we would get back that major employer that would fix our economy,” said Jeff Rea, president of the regional Chamber of Commerce.

Buttigieg is praised locally for spurring more than $100 million in downtown investment. During his two terms, unemployment has fallen to 4.1 percent from 11.8 percent.

But a study released in 2017 by the nonprofit group Prosperity Now said not all of the city’s residents had shared in its rebound. The median income for African-Americans remained half that of whites, while the unemployment rate for blacks was double.

Regina Williams-Preston, a city councilor running to replace Buttigieg as mayor, credits him for the revitalized downtown. But she said he had a “blind spot” when it came to focusing on troubled neighborhoods like the one she represents and only grew more engaged after community pressure.

“He understands it now,” she said. “The next step is figuring out how to open the doors of opportunity for everyone.”

‘ONE OF US’

Trump touts the fact that the United States added almost 300,000 manufacturing jobs last year as evidence he made good on his promise to restore the industrial sector. But that growth still left the country with fewer manufacturing jobs than in 2008.

The robust U.S. economy is likely the president’s greatest asset in his re-election bid, particularly in states he carried in 2016 such as Iowa, Wisconsin, Michigan and Pennsylvania. He won Buttigieg’s home state by 19 points over Clinton in 2016.

Sean Bagniewski, chairman of the Democratic Party in Polk County, Iowa, said Buttigieg would be well positioned to compete with Trump in the Midwest.

“People love the fact that he’s a mayor,” said Bagniewski, who has not endorsed a candidate in the nominating contest. “If you can talk about a positive future, and if you actually have experience that can do it, that’s a compelling vision in Iowa.”

Nan Whaley, the mayor of Dayton, Ohio, which faces many of the same challenges as South Bend, agreed.

“He’s one of us,” Whaley said. “That helps.”

(Reporting by James Oliphant; Editing by Colleen Jenkins and Peter Cooney)

Source: OANN

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A man looks out at a flooded residential area in Gatineau
A man looks out at a flooded residential area in Gatineau, Quebec, Canada, April 24, 2019. REUTERS/Chris Wattie

April 26, 2019

MONTREAL/OTTAWA (Reuters) – Rising waters were prompting further evacuations in central Canada on Thursday, with the mayor of the country’s capital, Ottawa, declaring a state of emergency and Quebec authorities warning that a hydroelectric dam was at risk of breaking.

Ottawa Mayor Jim Watson declared the emergency in response to rising water levels along the Ottawa River and weather forecasts that called for significant rainfall on Friday.

In a statement on Twitter, Watson asked for help from the Ontario provincial government and the country’s military.

He warned that “flood levels are currently forecasted to exceed the levels that caused significant damage to numerous properties in the city of Ottawa in 2017.”

Spring flooding had killed one person and forced more than 900 people from their homes in Canada’s Quebec province as of 1 p.m. on Thursday, according to a government website.

Ottawa has received 80 requests for service related to potential flooding such as sandbagging, a city spokeswoman said.

The prospect of more rain over the next 24 to 48 hours triggered concerns on Thursday that the hydroelectric dam at Bell Falls in the western part of Quebec could be at risk of failing because of rising water levels.

Quebec’s provincial police said 250 people were protectively removed from homes in the area as of late afternoon in case the dam on the Rouge River breaks.

The dam is now at its full flow capacity of 980 cubic meters per second of water, said Francis Labbé, a spokesman for the province’s state-owned utility, Hydro Quebec. He said Hydro Quebec expected the flow could rise to 1,200 cubic meters per second of water over the next two days.

“We have to take the worst-case scenario into consideration, since we`re already at the maximum capacity,” Labbé said by phone.

The dam is part of a power station that no longer produces electricity, but is regularly inspected by Hydro Quebec, he said.

(Reporting by Allison Lampert in Montreal and David Ljunggren and Julie Gordon in Ottawa; Editing by James Dalgleish and Peter Cooney)

Source: OANN

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