Now On Air

Liberty #MAGAOne Mix

Via MAGA One Mix

6:00 am 8:00 am


Upcoming shows
Real News

NOW ON AIR
Now On Air

Liberty #MAGAOne Mix

Via MAGA One Mix

6:00 am 8:00 am



Maga First News

Upcoming Shows

Join The MAGA Network on Discord

0 0

Stuart Varney: Trump is bound to win again in 2020 if Democrats are as far-left as Bernie Sanders

Fox Business host Scott Varney has slammed 2020 Democratic presidential candidate Bernie Sanders' town hall appearance on Fox News on Monday evening and predicted President Trump will win his re-election campaign if he runs against him.

In an impassioned appearance on "Fox & Friends" on Tuesday morning, Varney called Sanders' appearance at the town hall "unconvincing," and argued his proposed plan to tax the wealthy goes against the Vermont Senator's own commitment towards advocating for a fair economy for all.

In addition, he said, Sanders is now backing off of his targeting of millionaires after his own tax returns revealed a hefty salary.

"Here is a guy who is 1 percent. He is a millionaire. And he is a socialist. I got a problem with that. He is trying to make sure that we, the rest of us on our way up, don't accumulate the pile that he has already at 77," Varney said.

BERNIE SANDERS, ANGRY AT POTSHOTS, SLAMS LEFT-WING GROUP

BERNIE SANDERS, AT COMBATIVE FOX NEWS TOWN HALL, MAKES NO APOLOGIES FOR MAKING MILLIONS

"If the Democratic party has moved so far to the left that Bernie Sanders, a socialist, is now the front-runner, I would confidently predict that he loses in 2020 and Donald Trump wins," he continued.

Varney also touched on Sanders' proposed plan to expand estate taxes up for the mega-wealthy, which the host deemed "outrageous."

"Where is the fairness in confiscating our money when we've saved all our lives for that money to pass on to our children and our grandchildren?" Varney asked.

CLICK TO GET THE FOX NEWS APP

"To me, fairness is allowing people with the brains, talent, drive, ability to climb that food chain and get to the top and stay there and be proud of it. Fairness to him is taking it off you."

During Monday's town hall, Sanders doubled down on his previous defenses of his wealth, which even some progressives have called hypocritical.

"This year, we had $560,000 in income," Sanders said. "In my and my wife's case, I wrote a pretty good book. It was a bestseller, sold all over the world, and we made money. If anyone thinks I should apologize for writing a bestselling book, I'm sorry, I'm not gonna do it."

Source: Fox News Politics

0 0

Manchin: We Must ‘Safeguard Our Democratic Institutions’

Sen. Joe Manchin, D-W.Va., said the report by special counsel Robert Mueller has made at least one clear conclusion: Russia has and will continue to meddle in U.S. elections.

Manchin, in a statement released by his office, said he has not had an opportunity to read the report yet, but he maintained Russia’s election interference is obvious.

And he said that “we must work immediately to safeguard our democratic institutions.”

Manchin added: “I look forward to reading the Mueller report and coming to my own conclusion, just like every American should. The last two years has divided our country and I’m glad the Mueller report has been released to the public for the sake of transparency and for our national healing.” 

Source: NewsMax Politics

0 0

CEO Sloan pitches Wells Fargo turnaround to bank critics in Congress

Wells Fargo & Company CEO and President Tim Sloan testifies before the Senate Banking Committee on Capitol Hill in Washington
FILE PHOTO: Wells Fargo & Company CEO and President Tim Sloan testifies before the Senate Banking Committee on Capitol Hill in Washington, U.S., October 3, 2017. REUTERS/Aaron P. Bernstein

March 12, 2019

By Imani Moise and Pete Schroeder

WASHINGTON (Reuters) – Wells Fargo & Co Chief Executive Tim Sloan, who has been campaigning to prove his bank has moved past its scandals, appeared in Congress on Tuesday before newly empowered Democratic lawmakers who are taking aim at Wall Street.

Sloan is the first bank executive grilled by the House Financial Services Committee since it was taken over by Democrats following the 2018 congressional election. A nervous Wall Street is keen to see how hostile the panel will be towards the industry.

The hearing could see Sloan clash with panel chair and vocal bank critic Maxine Waters, as well as Alexandria Ocasio-Cortez, a rookie lawmaker and leading voice of her party’s progressive wing. Fellow freshman Katie Porter likewise built her campaign on bashing Wall Street.

Republicans have also criticized Wells Fargo, and will likely want proof the fourth-largest U.S. bank has addressed customer abuses.

The CEOs of Morgan Stanley, Goldman Sachs Group Inc, Citigroup Inc, JPMorgan Chase & Co and Bank of America Corp are expected to appear before the House panel next month.

Stakes are high for 31-year Wells Fargo veteran Sloan, who was appointed CEO when John Stumpf retired soon after the sales practices scandal erupted in 2016. Sloan has faced calls to step down from investors and politicians, including U.S. Senator Elizabeth Warren, a 2020 Democratic presidential contender.

Wells Fargo shares were up 0.3 percent as the hearing started.

Sloan’s prepared remarks emphasized changes the bank has made to culture, sales practices and risk management, as well as efforts to repay wronged customers.

“Wells Fargo is a better bank than it was three years ago, and we are working every day to become even better,” Sloan, 58, will say, according to testimony published by the bank on Monday.

Lawmakers could also ask about the bank’s decision to cut thousands of U.S. jobs, its pledge to boost stock buybacks and its forced arbitration policy for customers.

Spokespeople for Waters and Ocasio-Cortez declined or did not respond to comment requests. Porter said in a statement on Monday that Sloan has “a lot to prove” to show Wells Fargo has turned a corner.

If lawmakers are unhappy with what they hear, they could pressure the Federal Reserve to maintain restrictions imposed on the bank’s growth until governance and risk management improve.

Sloan has not appeared before Congress since a 2017 Senate hearing, where he clashed with lawmakers from both parties.

Wells Fargo has since deployed more lobbyists in Washington and launched a public relations offensive, but remains in politicians’ crosshairs.

The 2016 revelation that Wells Fargo created millions of fake customer accounts prompted regulatory probes into mortgage foreclosures, auto insurance sales and its wealth management businesses, resulting in billions of dollars in fines.

(Reporting by Pete Schroeder and Imani Moise; Editing by Michelle Price and Meredith Mazzilli)

Source: OANN

0 0

“Founders Did Not Want A King” – Democrats Vote Unanimously To Overturn Trump Border Emergency Plan

Less than two weeks after President Trump declared a national emergency to fund his border wall, House Democrats have voted unanimously to block Trump’s declaration, marking an unprecedented congressional challenge to a president’s authority to invoke emergency powers.

13 Republicans joined with Democrats to admonish Trump’s move — well short of the number Democrats would need to overturn the president’s promised veto.

As The Hill reports, the vote marks the first time Congress has taken formal action to block a presidential emergency declaration since the power was created in the National Emergencies Act of 1976.

Democrats hinged their opposition on the basic principles of constitutional law, arguing that Trump’s unilateral move marks a clear-cut violation of the separation of powers and the unique authority of Congress to dictate where federal dollars are spent.

“If it were truly an emergency we’d all be there with the president,” Speaker Nancy Pelosi (D-Calif.) said several hours before Tuesday’s vote, during a conference of the American Legion in Washington.

“Our founders had great vision. They did not want a king.”

As a reminder, here’s a list of all the national emergencies…

  1. Nov 14, 1979: Blocking Iranian Government Property (EO12170)
  2. Nov 14, 1994: Proliferation of Weapons of Mass Destruction (EO 12938)
  3. Jan 23, 1995: Prohibiting Transactions With Terrorists Who Threaten To Disrupt the Middle East Peace Process (EO 12947)
  4. Mar 15, 1995: Prohibiting Certain Transactions with Respect to the Development of Iranian Petroleum Resources (EO 12957)
  5. Oct 21, 1995: Blocking Assets and Prohibiting Transactions with Significant Narcotics Traffickers (EO 12978)
  6. Mar 1, 1996: Declaration of a National Emergency and Invocation of Emergency Authority Relating to the Regulation of the Anchorage and Movement of Vessels (Proc. 6867)
  7. Nov 3, 1997: Blocking Sudanese Government Property and Prohibiting Transactions With Sudan (EO 13067)
  8. Jun 26, 2001: Blocking Property of Persons Who Threaten International Stabilization Efforts in the Western Balkans (EO 13219)
  9. Aug 17, 2001: Continuation of Export Control Regulations (EO 13222)
  10. Sep 14, 2001: Declaration of National Emergency by Reason of Certain Terrorist Attacks (Proc. 7463)
  11. Sep 23, 2001: Blocking Property and Prohibiting Transactions With Persons Who Commit, Threaten To Commit, or Support Terrorism (EO 13224)
  12. Mar 6, 2003: Blocking Property of Persons Undermining Democratic Processes or Institutions in Zimbabwe (EO 13288)
  13. May 22, 2003: Protecting the Development Fund for Iraq and Certain Other Property in Which Iraq Has an Interest (EO 13303)
  14. May 11, 2004: Blocking Property of Certain Persons and Prohibiting the Export of Certain Goods to Syria (EO 13338)
  15. Jun 16, 2006: Blocking Property of Certain Persons Undermining Democratic Processes or Institutions in Belarus (EO 13405)
  16. Oct 27, 2006: Blocking Property of Certain Persons Contributing to the Conflict in the Democratic Republic of the Congo (EO 13413)
  17. 17. Aug 1, 2007: Blocking Property of Persons Undermining the Sovereignty of Lebanon or Its Democratic Processes and Institutions (EO 13441)
  18. Jun 26, 2008: Continuing Certain Restrictions With Respect to North Korea & North Korean Nationals (EO 13466)
  19. Apr 12, 2010: Blocking Property of Certain Persons Contributing to the Conflict in Somalia (EO 13536)
  20. Feb 25, 2011: Blocking Property and Prohibiting Certain Transactions Related to Libya (EO 13566)
  21. Jul 24, 2011: Blocking Property of Transnational Criminal Organizations (EO13581)
  22. May 16, 2012: Blocking Property of Persons Threatening the Peace, Security, or Stability of Yemen (EO 13611)
  23. Mar 6, 2014: Blocking Property of Certain Persons Contributing to the Situation in Ukraine (EO 13660)
  24. Apr 3, 2014: Blocking Property of Certain Persons With Respect to South Sudan (EO 13664)
  25. May 12, 2014: Blocking Property of Certain Persons Contributing to the Conflict in the Central African Republic (EO 13667)
  26. Mar 8, 2015: Blocking Property and Suspending Entry of Certain Persons Contributing to the Situation in Venezuela (EO 13692)
  27. Apr 1, 2015: Blocking the Property of Certain Persons Engaging in Significant Malicious Cyber-Enabled Activities (EO 13694)
  28. Nov 22, 2015: Blocking Property of Certain Persons Contributing to the Situation in Burundi (EO 13712)
  29. Dec 20, 2017: Blocking the Property of Persons Involved in Serious Human Rights Abuse or Corruption (EO13818)
  30. Sep 12, 2018: Imposing Certain Sanctions in the Event of Foreign Interference in a United States Election (EO 13848)
  31. Nov 27, 2018: Blocking Property of Certain Persons Contributing to the Situation in Nicaragua (EO 13851)

…and since the National Emergencies Act went into effect in the mid-1970s, a total of 58 have been declared, most of which were in regard to foreign issues (like the War in Iraq).


Jussie Smollett has been charged with a crime after his false report went viral. Erich “Mancow” Muller joins Alex to discuss the real victims of this crime including himself as a Trump supporter living in Chicago.

NE

“People will say, ‘Well, there have been a lot of emergency designations.’ That’s right,” said House Majority Leader Steny Hoyer (D-Md.).

“This is the only one — the only one — that has been used to get around a Congress’s refusal to appropriate money for a particular objective.”

The Hill points out that passage in the upper chamber is not guaranteed, but appears increasingly likely. Three GOP senators — Susan Collins (Maine), Lisa Murkowski (Alaska) and Tom Tillis (N.C.) — are already on record in support of the disapproval resolution, and a handful of others are leaning that way.

The president, for his part, has vowed in no uncertain terms to veto the resolution if it travels that far. Neither chamber is expected to have enough support to win a two-thirds vote to override the promised veto.

“They’re not going to be able to reverse this emergency declaration. But it does show that they’re in denial that there’s a crisis at the border,” House Minority Whip Steve Scalise (R-La.) told The Hill ahead of the vote.

“Pelosi goes to the border and waves a Mexican flag saying there’s no crisis the same week that an illegal alien goes to Napa right in her own backyard and attacks a cop,” he continued.

“I mean it’s it’s happening every day. There’s a real crisis and the president is taking steps to keep our country safe.”

No matter, what, Trump already called the endgame – “we’ll see you in the Supreme Court.”

Source: InfoWars

0 0

Colo. Senate Passes Controversial ‘Red Flag’ Gun Law

Colorado’s Senate passed the so-called ‘red flag bill’ that allows law enforcement to seize people’s guns if a court rules them at risk to themselves or others.

Thursday’s 18-17 vote, that saw no Republican support, moved the bill one step closer to Governor Jared Polis’ signature – who has already pledged to sign it into law if it reaches his desk.

The legislation, called House Bill 1177, has been slammed by the state’s sheriffs who have been supporting multiple counties’ efforts to become a “Second Amendment sanctuary.”

“If you pass an unconstitutional law, our oaths as commissioners or myself as the sheriff — we’re going to follow our constitutional oath first,” said Sheriff Steve Reams.

Advocates for the bill insist it’s intended to combat mental health issues as over half of Colorado’s suicides involve a firearm, a cause sheriffs are eager to address but not at the expense of everyone’s rights.

“It’s time we quit trying to put lipstick on a pig and start funding our mental health facilities, instead of trying to take the rights from our people,” said another sheriff.

The state’s attorney general, Democrat Phil Weiser, has called officials to leave office if they can’t “follow the law.”

“If a sheriff cannot follow the law, the sheriff cannot do his or her job,” Weiser said. “The right thing to do for a sheriff who says, ‘I can’t follow the law’ is to resign.”

Interestingly, after being pressed by the media, Governor Polis has distanced himself from Weiser’s remarks by saying police can exercise their discretion when choosing to honor the new law.

“Every law enforcement agency has limited resources, and they do have to prioritize what they choose to enforce or not enforce,” said Polis.


New York has declared a state of emergency by banning unvaccinated children from public spaces. Mike Adams joins Alex to break down this dystopian development.

Source: InfoWars

0 0

Trump rails against associates who spoke to Mueller, calls claims ‘total bull—t’

President Trump lashed out Friday at certain associates who spoke to Special Counsel Robert Mueller as part of his Russia investigation -- calling some of the claims made about him in the report “total bull---t.”

“Statements are made about me by certain people in the Crazy Mueller Report, in itself written by 18 Angry Democrat Trump Haters, which are fabricated & totally untrue. Watch out for people that take so-called “notes,” when the notes never existed until needed,” he tweeted.

HOUSE JUDICIARY COMMITTEE ISSUES SUBPOENA FOR 'COMPLETE AND UNREDACTED' MUELLER REPORT

“Because I never agreed to testify, it was not necessary for me to respond to statements made in the 'Report' about me, some of which are total bull---t & only given to make the other person look good (or me to look bad)."

Mueller’s report dropped on Thursday and while it found no evidence of collusion and did not conclude that a crime was committed on the question of obstruction of justice, it contained a number of embarrassing details for the White House that were considered as part of the obstruction inquiry.

In particular, the report outlines how Trump told then-White House Counsel Don McGahn to inform the acting attorney general that Mueller should be removed in June 2017 -- a demand McGahn ignored. Trump also allegedly questioned McGahn’s habit of taking notes and making memos for the record, a sign that his tweets were likely aimed in part at the former counsel.

TRUMP CAMPAIGN GOES ON POST-MUELLER ATTACK AGAINST 'OBAMA-ERA DOJ AND FBI,' WARNS 'JUSTICE WILL BE SERVED'

"Why do you take notes? Lawyers don't take notes. I never had a lawyer who took notes," Trump said, according to Mueller's report. The special counsel said McGahn responded that he keeps notes "because he is a 'real lawyer' and explained that notes create a record and are not a bad thing."

These notes appear to have angered Trump, but also allowed Mueller to conclude that McGahn was a credible witness “with no motive to lie or exaggerate given the position he held in the White House."

Trump on Friday also tweeted that the investigation was “an Illegally Started Hoax that never should have happened” but he left the sentence unfinished in a tweet and had not followed up hours later.

CLICK HERE TO GET THE FOX NEWS APP

The angry tweetstorm was a contrast to Trump’s reaction Thursday, where he said he was “having a good day” and repeating his mantra of “no collusion, no obstruction.” However, he added that he intended to “get to the bottom of these things,” hinting at calls for the origins of the two-year investigation to be reviewed.

“This should never happen to another president again, this hoax, it should never happen to another president again,” he said.

The Associated Press contributed to this report.

Source: Fox News Politics

0 0

Florida man arrested for allegedly throwing cookie at girlfriend

A Florida man was arrested for domestic battery after he reportedly threw a cookie at his girlfriend.

Wade Smith, 41, of Zephyrhills, was taken into custody on Sunday after deputies with the Pasco County Sheriff's Office were called to the home he shares with his girlfriend, WFLA reported.

SAN ANTONIO MAN ALLEGEDLY PISTOL-WHIPPED EX FOR REVEALING HIS CRIMINAL PAST TO NEW GIRLFRIEND

Smith's girlfriend reportedly told investigators that he "threw a hard piece of cookie and hit her in the forehead," which deputies noted was red when they responded to the scene.

The 41-year-old, according to the news station, confessed to authorities that he threw the cookie at her.

CLICK HERE TO GET THE FOX NEWS APP

Online records from the sheriff's office indicate Smith was booked at the Pasco County Jail in Land O' Lakes on $500 bond.

Source: Fox News National

NOW ON AIR
Now On Air

Liberty #MAGAOne Mix

Via MAGA One Mix

6:00 am 8:00 am



Members of The Cranberries, bassist Mike Hogan, drummer Fergal Lawler and guitarist Noel Hogan speak to Reuters during an interview in London
Members of The Cranberries, bassist Mike Hogan, drummer Fergal Lawler and guitarist Noel Hogan speak to Reuters during an interview in London, Britain, April 24, 2019. REUTERS/Gerhard Mey

April 26, 2019

By Hanna Rantala

LONDON (Reuters) – Irish rockers The Cranberries are saying goodbye with their final album released on Friday, a poignant tribute to lead singer Dolores O’Riordan who died last year.

“In the End” is the eighth studio album from the band that rose to fame in the early 1990s with hits likes “Zombie” and “Linger”, and includes the final recordings by O’Riordan, who drowned in a London hotel bath in January 2018 due to alcohol intoxication.

Work on the album began during a 2017 tour and by that winter, O’Riordan and guitarist Neil Hogan had penned and demoed 11 tracks.

With O’Riordan’s vocals recorded, Hogan, bassist Mike Hogan and drummer Fergal Lawler completed the album in tribute to her.

“When we realized how strong the songs were, that was the deciding factor really… There was no point… trying to ruin the legacy of the band,” Noel Hogan said in an interview.

“It was obvious that Dolores wanted this album done because when you hear the album, you hear the songs and how strong they are, and she was very, very excited to get in and record this.”

The Cranberries formed in Limerick in 1989 with another singer. O’Riordan replaced him a year later and the group went on to become Ireland’s best-selling rock band after U2, selling more than 40 million records.

O’Riordan, known for her strong distinctive voice singing about relationships or political violence, was 46 when she died.

“She was actually in quite a good place mentally. She was feeling quite content and strong and looking forward to a new phase of her life,” Lawler said.

“A lot of the lyrics in this album are about things ending… people might read into it differently but it was a phase of her personal life that she was talking about.”

The group previously announced their intention to split after the release of “In The End”.

“We are absolutely gutted we can’t play (the songs) live because that’s something that’s been a massive part of this band from day one,” Noel Hogan said.

“A few people have said to us about maybe even doing a one off where you have different vocalists… as kind of guests of ours. A year ago that’s definitely something we weren’t going to entertain but I don’t know, I think it’s something we need to go away and take time off for the summer and have a think about.”

Critics have generally given positive reviews of the album; NME described it as “(seeing) the band’s career go full-circle” while the Irish Times called it “an unexpected late career high and a remarkable swan song for O’Riordan”.

Their early songs still play on the radio. This week, “Dreams” was performed at the funeral of journalist Lyra McKee, who was shot dead in Londonderry last week as she watched Irish nationalist youths attack police following a raid.

“We wrote them as kids, as a hobby and 30 years later they are on radio and on TV, like all the time… That’s far more than any of us ever thought we would have,” Noel Hogan said.

“That would make Dolores really happy because she was very precious about those songs. Her babies, she called them and to have that hopefully long after we’re gone… that’s all any band can wish for.”

(Reporting by Hanna Rantala; additoinal reporting by Marie-Louise Gumuchian; Writing by Marie-Louise Gumuchian; Editing by Susan Fenton)

Source: OANN

Listen to https://magaoneradio.net and Listen Daily! Don't Forget to Share Click a Link Below!
2020 Democratic presidential candidate Elizabeth Warren participates in the She the People Presidential Forum in Houston
2020 Democratic presidential candidate Elizabeth Warren participates in the She the People Presidential Forum in Houston, Texas, U.S. April 24, 2019. REUTERS/Loren Elliott

April 26, 2019

By Joshua Schneyer and M.B. Pell

NEW YORK (Reuters) – Senator Elizabeth Warren will introduce a bill Friday that offers new protections for U.S. military families facing unsafe housing, following a series of Reuters reports revealing squalid conditions in privately managed base homes.

The Reuters reports and later Congressional hearings detailed widespread hazards including lead paint exposure, vermin infestations, collapsing ceilings, mold and maintenance lapses in privatized base housing communities that serve some 700,000 U.S. military family members.

(View Warren’s military housing bill here. https://tmsnrt.rs/2Dy5aht)

(Read Reuters’ Ambushed at Home series on military housing here. https://www.reuters.com/investigates/section/usa-military)

The Massachusetts Democrat’s bill would mandate both regular and unannounced spot inspections of base homes by certified, independent inspectors, holding landlords accountable for quickly fixing hazards. The military’s privatization program for years allowed real estate firms to operate base housing with scant oversight, Reuters found, leaving some tenants in unsafe homes with little recourse against landlords.

The bill would also require the Department of Defense and its private housing operators to publish reports annually detailing housing conditions, tenant complaints, maintenance response times and the financial incentives companies receive at each base. The provisions aim to enhance transparency of housing deals whose finances and operations the military had allowed to remain largely confidential under a privatization program since the late 1990s.

The measure would also require private landlords to cover moving costs for at-risk families, and healthcare costs for people with medical conditions resulting from unsafe base housing, ensuring they receive continuing coverage even after they leave the homes or the military.

“This bill will eliminate the kind of corner-cutting and neglect the Defense Department should never have let these private housing partners get away with in the first place,” Warren said in a statement Friday.

The proposed legislation comes after February Senate hearings where Warren, a member of the Senate Armed Services Committee who is seeking the Democratic nomination for the 2020 U.S. presidential election, slammed private real estate firms for endangering service families, and sought answers about why military branches weren’t providing more oversight.

Her legislation would direct the Defense Department to allow local housing code enforcers onto federal bases, following concerns they were sometimes denied access. Warren’s office said a companion bill in the House of Representatives would be introduced by Rep. Deb Haaland, Democrat of New Mexico.

In response to the housing crisis, military branches are developing a tenant bill of rights and hiring hundreds of new housing staff. The branches recently dispatched commanders to survey base housing worldwide for safety hazards, resulting in thousands of work orders and hundreds of tenants being moved. The Defense Department has pledged to renegotiate its 50-year contracts with private real estate firms.

Congress has been quick to take its own measures. Earlier legislation proposed by senators Dianne Feinstein and Kamala Harris of California, along with Mark Warner and Tim Kaine of Virginia, would compel base commanders to withhold rent payments and incentive fees from the private ventures if they allow home hazards to persist.

(Editing by Ronnie Greene)

Source: OANN

Listen to https://magaoneradio.net and Listen Daily! Don't Forget to Share Click a Link Below!
FILE PHOTO: Offices of Deloitte are seen in London
FILE PHOTO: Offices of Deloitte are seen in London, Britain, September 25, 2017. REUTERS/Hannah McKay/File Photo

April 26, 2019

By Noor Zainab Hussain and Tanishaa Nadkar

(Reuters) – Deloitte quit as Ferrexpo’s auditor on Friday, knocking its shares by more than 20 percent, days after saying it was unable to conclude whether the iron ore miner’s CEO controlled a charity being investigated over its use of company donations.

Blooming Land, which coordinates Ferrexpo’s Corporate Social Responsibility (CSR) program, came under scrutiny after auditors found holes in the charity’s statements.

Ferrexpo on Tuesday said findings of an ongoing independent investigation launched in February indicated some Blooming Land funds could have been “misappropriated”. It did not provide any details or publish its findings.

Shares in Ferrexpo, the third largest exporter of pellets to the global steel industry, were 23.4 percent lower at 206.1 pence at 1022 GMT following news of Deloitte’s resignation.

“Ferrexpo’s shares are deeply discounted vs peers … following the resignation of Deloitte, we expect downside risks to dominate Ferrexpo’s shares near term.” JP Morgan analyst Dominic O’Kane said in a note on Friday.

Swiss-headquartered Ferrexpo did not provide a reason for the resignation of Deloitte, which declined to comment, while Blooming Land did not respond to a request for comment.

Funding for Blooming Land’s CSR activities is provided by one of Ferrexpo’s units in Ukraine and Khimreaktiv LLC, an entity ultimately controlled by Ferrexpo’s CEO and majority owner Kostyantin Zhevago, Ferrexpo said on Tuesday.

Ferrexpo’s board has found that Zhevago did not have significant influence or control over the charity, but Deloitte said it was unable reach a conclusion on this.

Reuters was not immediately able to contact Zhevago.

In a qualified opinion, a statement addressing an incomplete audit, Deloitte said it had been unable to conclude whether $33.5 million of CSR donations to Blooming Land between 2017 and 2018 was used for “legitimate business payments for charitable purposes”.

Deloitte said on Tuesday that total CSR payments made to Blooming Land by Ferrexpo since 2013 total about $110 million.

Ferrexpo, whose major mines are in Ukraine, has said that the investigation was ongoing and new evidence pointed to potential discrepancies.

Zhevago, 45, who ranked 1,511 on Forbes magazine’s list of billionaires for 2019 with a net worth of $1.4 billion, owns the FC Vorskla soccer club and has been a member of Ukraine’s parliament since 1998.

(Reporting by Noor Zainab Hussain and Tanishaa Nadkar in Bengaluru and additional reporting by Pavel Polityuk in Kiev; editing by Gopakumar Warrier, Bernard Orr)

Source: OANN

Listen to https://magaoneradio.net and Listen Daily! Don't Forget to Share Click a Link Below!
Children walk past a damaged building in the aftermath of the Cyclone Kenneth in Pemba
Children walk past a damaged building in the aftermath of the Cyclone Kenneth in Pemba, Mozambique April 26, 2019 in this still image obtained from social media. SolidarMed via REUTERS ATTENTION EDITORS – THIS IMAGE HAS BEEN SUPPLIED BY A THIRD PARTY. MANDATORY CREDIT. NO RESALES. NO ARCHIVES

April 26, 2019

By Emma Rumney and Stephen Eisenhammer

JOHANNESBURG/LUANDA (Reuters) – Cyclone Kenneth killed at least one person and left a trail of destruction in northern Mozambique, destroying houses, ripping up trees and knocking out power, authorities said on Friday.

The cyclone brought storm surges and wind gusts of up to 280 km per hour (174 mph) when it made landfall on Thursday evening, after killing three people in the island nation of Comoros.

It was the most powerful storm on record to hit Mozambique’s northern coast and came just six weeks after Cyclone Idai battered the impoverished nation, causing devastating floods and killing more than 1,000 people across a swathe of southern Africa.

The World Food Programme warned that Kenneth could dump as much as 600 millimeters of rain on the region over the next 10 days – twice that brought by Cyclone Idai.

One woman in the port town of Pemba died after being hit by a falling tree, the Emergency Operations Committee for Cabo Delgado (COE) said in a statement, while another person was injured.

In rural areas outside Pemba, many homes are made of mud. In the main town on the island of Ibo, 90 percent of the houses were destroyed, officials said. Around 15,000 people were out in the open or in “overcrowded” shelters and there was a need for tents, food and water, they said.

There were also reports of a large number of homes and some infrastructure destroyed in Macomia district, a mainland district adjacent to Ibo.

A local group, the Friends of Pemba Association, had earlier reported that they could not reach people in Muidumbe, a district further inland.

Mark Lowcock, United Nations under-secretary-general for humanitarian affairs, warned the storm could require another major humanitarian operation in Mozambique.

“Cyclone Kenneth marks the first time two cyclones have made landfall in Mozambique during the same season, further stressing the government’s limited resources,” he said in a statement.

FLOOD WARNINGS

Shaquila Alberto, owner of the beach-front Messano Flower Lodge in Macomia, said there were many fallen trees there, and in rural areas people’s homes had been damaged. Some areas of nearby Pemba had no power.

“Even my workers, they said the roof and all the things fell down,” she said by phone.

Further south, in Pemba, Elton Ernesto, a receptionist at Raphael’s Hotel, said there were fallen trees but not too much damage. The hotel had power and water, he said, while phones rang in the background. “The rain has stopped,” he added.

However Michael Charles, an official for the International Federation of the Red Cross and Red Crescent Societies (IFRC), said heavy rains over the next few days were likely to bring a “second wave of destruction” in the form of flooding.

“The houses are not all solid, and the topography is very sandy,” Charles said.

In the days after Cyclone Idai, heavy inland rains prompted rivers to burst their banks, submerging entire villages, cutting areas off from aid and ruining crops. There were concerns the same could happen again in northern Mozambique.

Before Kenneth hit, the government and aid workers moved around 30,000 people to safer buildings such as schools, however authorities said that around 680,000 people were in the path of the storm.

(Reporting by Emma Rumney and Stephen Eisenhammer; Writing by Emma Rumney; Editing by Janet Lawrence and Alexandra Zavis)

Source: OANN

Listen to https://magaoneradio.net and Listen Daily! Don't Forget to Share Click a Link Below!
A worker holds a nozzle to pump petrol into a vehicle at a fuel station in Mumbai
FILE PHOTO: A worker holds a nozzle to pump petrol into a vehicle at a fuel station in Mumbai, India, May 21, 2018. REUTERS/Francis Mascarenhas

April 26, 2019

By Manoj Kumar and Nidhi Verma

NEW DELHI (Reuters) – Surging global oil prices will pose a first big challenge to India’s new government, whoever wins an election now under way, especially as domestic prices have been allowed to lag, meaning consumers are in for a painful surge as they catch up.

For oil-import dependent India, higher global prices could lead to a weaker rupee, higher inflation, the ruling out of interest rate cuts and could further weigh on twin current account and budget deficits, economists warned.

But compounding the future pain, state-run fuel suppliers and retailers have held off passing on to consumers the higher prices during a staggered general election, which began on April 11 and ends on May 23, according to sources familiar with the situation.

That delay is expected to be unwound once the election is over. And there could be additional price increases to make up for losses or profits missed during the period of delayed increases, the sources said.

In some major Asian countries, such as Japan and South Korea, pump prices are adjusted periodically so they move largely in tandem with international crude prices.

That was what was supposed to happen in India but the election means there have been many days when pump prices have been unchanged.

In New Delhi, for example, while crude oil prices have gone up by nearly $9 a barrel, or about 12 percent, in the past six weeks, gasoline prices have only risen by 0.47 rupees a liter, or 0.6 percent.

State-controlled fuel suppliers and retailers declined to say why they had delayed price increases, or discuss whether there has been any pressure from the government of Prime Minister Narendra Modi.

A government spokesman declined to comment.

The opposition Congress party said Modi’s government was violating its own policy of daily price revision by advising the state oil companies to hold prices steady.

“The government should cut fuel taxes otherwise consumers will have to pay much higher oil prices once the elections are over,” said Akhilesh Pratap Singh, a senior leader of the Congress party.

(GRAPHIC: India Polls: Fuel price hike lags crude surge – https://tmsnrt.rs/2XLlxik)

Nitin Goyal, treasurer at the All India Petroleum Dealers Association, representing fuel stations in 25 states, said prices were similarly held down for 19 days in the southern state of Karnataka last year, when it held state assembly elections.

Only for them to surge after the vote.

“Consumers should be ready for a rude shock of a massive jump in retail prices, similar to the level we have seen in the Karnataka state election,” Goyal said.

‘CREDIT NEGATIVE’

Sri Paravaikkarasu, director for Asia oil at Singapore-based consultancy FGE, said retail prices of gasoline and gasoil prices would have been up to 6 percent, or about 4 rupee, higher if they had been allowed to rise in line with global prices.

“Indian pump prices have failed to keep up with the recent uptrend in crude prices,” Paravaikkarasu said.

“With the country’s general elections underway, the incumbent government has been keeping pump prices relatively unchanged.”

India had switched to a daily price revision in June 2017 from a revision every two weeks, as the government allowed retailers to set prices.

But the government faced protests last October when retailers raised prices by up to 10 rupees a liter after the crude oil price went above $80 a barrel, forcing it to cut fuel taxes.

Global prices rose to their highest level in 2019 on Thursday, days after the United States announced all Iran sanction waivers would end by May, pressuring importers including India to stop buying Tehran’s oil. [O/R]

Higher oil prices will mean Asia’s third largest economy is likely to see growth of less than 7 percent rate this fiscal year, economists said. Growth slowed to 6.6 percent in the October-December quarter, the slowest in five quarters.

Rating agency CARE has warned that a 10 percent rise in global oil prices could increase demand for dollars, putting pressure on the rupee and widening the current account deficit.

India’s oil import bill rose by nearly one-third in the fiscal year ending March 31 to $140.5 billion, against $108 billion the previous year.

“The increase in international oil prices is a credit negative for the Indian economy,” ICRA, the Indian arm of the Fitch rating agency, said in a note.

“Every $10/ bbl increase in crude oil prices increases the fiscal deficit by about 0.1 percent of GDP.”

Any big price rise would also build a case for the central bank to keep rates steady, or even raise them.

The Reserve Bank of India’s Monetary Policy Committee, which cut the benchmark policy repo rate by 25 basis points this month, warned that rising oil and food prices could push up inflation.

Policymakers are worried that a sustained increase in the oil price in the range of $70-75/barrel or higher can move the rupee down by 3-4 percent on an annual basis.

The rupee has depreciated by 1.24 percent against the dollar since a year high in mid-March.

($1 = 70.1800 Indian rupees)

(Reporting by Manoj Kumar and Nidhi Verma; Editing by Martin Howell and Rob Birsel)

Source: OANN

Listen to https://magaoneradio.net and Listen Daily! Don't Forget to Share Click a Link Below!

Listen to https://magaoneradio.net and Listen Daily! Don't Forget to Share Click a Link Below!
Current track

Title

Artist