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Yemen’s Houthis deny U.N. access to Hodeidah mills for ‘safety reasons’: sources

FILE PHOTO: A police trooper stands guard on a street in the Red Sea port city of Hodeidah, Yemen
FILE PHOTO: A police trooper stands guard on a street in the Red Sea port city of Hodeidah, Yemen, February 13, 2019. REUTERS/Abduljabbar Zeyad/File Photo

April 2, 2019

ADEN (Reuters) – Houthi forces denied the United Nations access to a grain storage site in the Yemeni port of Hodeidah on Tuesday, sources familiar with the matter said, hindering efforts to increase food aid to millions facing severe hunger.

Hodeidah is the entry point for most of Yemen’s humanitarian aid and commercial imports. World Food Programme (WFP) grain stores there have been cut off in the conflict zone for six months, putting the contents at risk of rotting.

A WFP technical team was scheduled to cross the front line between the Iran-aligned Houthi movement forces and the Saudi-backed government on the eastern outskirts of Hodeidah to fumigate the wheat stored in the Red Sea Mills.

But Houthi forces told the WFP team they could not leave Houthi-held areas inside Hodeidah city for “security reasons”, asking the United Nations instead for a way to investigate attacks on the mills.

“The Houthis argued that government forces will target the U.N. and then they will be blamed for it,” one source aware of the discussion said. “(But) if the wheat is not fumigated, it will be lost.”

The WFP regained access to the mills last month, a step hailed by U.N. Secretary-General Antonio Guterres. The grain stores there have more than 51,000 tonnes of wheat, enough to feed 3.7 million people.

WFP spokesman Herve Verhoosel said a WFP mission to the Red Sea Mills was scheduled for Tuesday but was postponed due to “safety concerns”. Verhoosel declined to give details.

Houthi officials did not immediately respond to Reuters requests for comment.

Yemeni government officials accused the Houthis of another violation of the peace agreement signed last year which the United Nations has been struggling to implement.

The Houthis and the government of Abd-Rabbu Mansour Hadi agreed at U.N.-sponsored talks in December to a truce and troop withdrawal from Hodeidah.

But talks aimed at securing a mutual military withdrawal from Hodeidah have stalled despite U.N. efforts to salvage the deal and nudge both sides to agree on steps toward disengagement after four years of war.

Under the deal, the government retreat would free up access to the Red Sea Mills and humanitarian corridors would also be reopened. The warring sides would still need to agree on which road could be used to transport supplies from the site to needy recipients.

The WFP is now reaching about 10 million Yemenis per month with food aid and hopes to scale up to 12 million this year, but sporadic clashes make Hodeidah and its province unsafe despite the ceasefire agreement.

Saudi Arabia and the United Arab Emirates are leading a military coalition that is backing Hadi government forces fighting the Houthis. The war that killed tens of thousands and thrust Yemen to the verge of famine.

(Reporting by Aziz El Yaakoubi, Mohamed Ghobari and Lisa Barrington; Editing by Mark Heinrich)

Source: OANN

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Former Obama Officials Ordered By Judge To Answer Questions Over Clinton Emails

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Jordanian suspects appear in court over August attack

Fourteen suspected militants have appeared in a Jordanian court to face charges linked to an attack on security forces last August.

They were also charged with conspiring to commit terrorism and manufacturing explosives "for use in terrorist acts."

Judge Mohammad Afif announced the charges Monday and scheduled a hearing for next week. If convicted, some defendants could face the death penalty.

Lawyer Mousa al-Abdallat says the defendants pleaded not guilty. He says they were tortured during interrogation by intelligence agents.

Last August, assailants bombed a police van that was guarding a music festival in the predominantly Christian town of Fuheis, near the capital, Amman. The blast killed a police officer and prompted a manhunt that led to the deaths of five security officers and three suspected militants.

Source: Fox News World

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Ocasio-Cortez slammed as ‘financially illiterate’ at Sharpton event over Amazon, faces calls to be ousted from office

Hours before Alexandria Ocasio-Cortez called for an “agenda of reparations” at an Al Sharpton-sponsored event in New York on Friday, she was slammed as “financially illiterate” at the same conference for killing the Amazon deal with the state.

Ocasio-Cortez spoke to the crowd at the National Action Network, saying her Green New Deal will consider reparations to black Americans for slavery in addition to the radical overhaul of the economy in a bid to combat climate change.

OCASIO-CORTEZ CALLS FOR ‘AGENDA OF REPARATIONS’ AS 2020 DEMS GET ON BOARD

But at the same conference, hours before Ocasio-Cortez’s speech, an investor ripped those who opposed the Amazon deal with the state that would have generated billions in tax revenue and 25,000 jobs.

“The people campaigning against the Amazon campus are financially illiterate,” said Tracy Maitland, president and chief investment officer of Advent Capital Management during a panel discussion the Black Economic Agenda, according to the New York Post.

“The people campaigning against the Amazon campus are financially illiterate.”

— Tracy Maitland

He later told the newspaper that he blames the 29-year-old Democratic Socialist for spreading misinformation and helping to kill the agreement with Amazon that would have benefited people in her home state.

AOC MOCKED FOR ‘ACCENT’ AT SHARPTON EVENT; COMPARED TO HILLARY CLINTON

“This was a disgrace. I partially blame AOC for the loss of Amazon. She doesn’t know what she doesn’t know. That’s scary. We have to make sure she’s better educated or vote her out of office,” he said, noting that Ocasio-Cortez implied the state was giving a blank $3 billion check rather than tax credits based on the number of jobs created.

“This was a disgrace. I partially blame AOC for the loss of Amazon. She doesn’t know what she doesn’t know. That’s scary. We have to make sure she’s better educated or vote her out of office.”

— Tracy Maitland

Bill Thompson, the chairman of the City University of New York, also said during the panel that jobs were “snatched away” from mostly Latino and black students at the university.

“We were at the table talking to Amazon on how students could get jobs. … Those opportunities were snatched away,” Thompson was quoted as saying.

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“Those students look like us. … We’re talking thousands of high-paying jobs. It was a disappointment from a CUNY perspective.”

Source: Fox News Politics

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UBS Wealth closes U.S. equity overweight, favors emerging stocks

Mark Haefele, Global Chief Investment Officer of UBS Wealth Management attends the Reuters Investment Summit
FILE PHOTO: Mark Haefele, Global Chief Investment Officer of UBS Wealth Management attends the Reuters Investment Summit, London, Britain, November 16, 2017. REUTERS/Paul Hackett

April 18, 2019

(Reuters) – UBS Global Wealth Management has closed its overweight position in U.S. equities and shifted to an overweight in emerging market and Japanese stocks, it said on Thursday.

UBS Global Wealth Management chief investment officer Mark Haefele said also that the firm preferred the euro over the Swiss franc and Norwegian crown versus the Canadian dollar.

(Reporting by Sujata Rao and Tom Arnold)

Source: OANN

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Algeria orders early university holiday as students spur protests

A woman protests against Algeria's President Abdelaziz Bouteflika, in Algiers
A woman protests against Algeria's President Abdelaziz Bouteflika, in Algiers, Algeria March 8, 2019. REUTERS/Zohra Bensemra

March 9, 2019

By Hamid Ould Ahmed and Lamine Chikhi

ALGIERS (Reuters) – Algerian authorities on Saturday ordered an early start to the spring university holiday, an apparent attempt to weaken two weeks of student-led protests against President Abdelaziz Bouteflika.

The Higher Education Ministry’s decision came a day after tens of thousands of demonstrators packed central Algiers to challenge the veteran leader’s 20-year-old rule in the biggest protests in the capital in 28 years.

Without giving a reason for the move, the Ministry said in a decree that the spring break would be brought forward by 10 days, starting on Sunday instead of March 20.

Algerians desperate for jobs and angry at unemployment, corruption and an elderly elite seen as out of touch with the young have taken to the streets since Feb. 22 to protest the 82-year-old’s plans to seek a fifth term in an April 18 election.

Many of the demonstrations — the largest since 1991 when the army canceled elections Islamists were poised to win — started at university premises before spilling out onto the streets.

The ailing Bouteflika is in hospital in Geneva and has rarely been seen in public since suffering a stroke in 2013.

On Thursday he issued his first warning to protesters, saying the unrest, now entering its third week, could create chaos in the oil- and natural gas-producing North African country.

Bouteflika has offered to limit his term after the election and has vowed to change the “system” that runs the country, but the protest movement has galvanized discontent among different sectors, particularly students and young families.

Some long-time allies of Bouteflika, including members of the ruling party, have expressed support for the protesters, revealing cracks within a ruling elite long seen as invincible.

Friday’s protests were largely peaceful but some clashes between youths and police broke out in the evening and state media said 110 protesters and 112 policemen had been hurt in the unrest.

(Additional reporting by Aziz El Yaakoubi in Dubai; Writing by Ulf Laessing; Editing by Helen Popper)

Source: OANN

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Mondelez in advanced talks for Campbell’s international business: Bloomberg

FILE PHOTO: A man looks at two paintings 'Coloured Campbell's soup can' by late U.S. artist Andy Warhol the Art Unlimited of the Art Basel art fair in Basel
FILE PHOTO: A man looks at two paintings 'Coloured Campbell's soup can' from 1965 by late U.S. artist Andy Warhol (1928-1987) the Art Unlimited of the Art Basel art fair in Basel June 16, 2011. REUTERS/Arnd Wiegmann/File Photo

March 29, 2019

(Reuters) – Oreo cookies maker Mondelez International Inc is in advanced talks to buy international brands being sold by U.S. food company Campbell Soup Co, Bloomberg reported late on Thursday.

Mondelez is negotiating final terms of a purchase of the business, which includes Australian cookie brand Arnott’s and Danish baked snacks maker Kelsen Group, the report said, citing people familiar with the matter.

The parties have been discussing a price of around $2.5 billion for the assets, the report said.

Campbell and Mondelez did not immediately respond to a request for comment.

Italian confectioner Ferrero and a consortium comprising private equity firms KKR & Co and Bain Capital were among the bidders for Campbell’s international business.

Campbell Soup said in August it would make preparations to divest its international portfolio and its “fresh” business, after being pressured by investors to boost its profitability and stock performance.

(Reporting by Aishwarya Venugopal in Bengaluru; Editing by Arun Koyyur)

Source: OANN

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FILE PHOTO: An aerial photo looking north shows shipping containers at the Port of Seattle and the Elliott Bay waterfront in Seattle
FILE PHOTO: An aerial photo looking north shows shipping containers at the Port of Seattle and the Elliott Bay waterfront in Seattle, Washington, U.S. March 21, 2019. REUTERS/Lindsey Wasson/File Photo

April 26, 2019

NEW YORK (Reuters) – U.S. economic growth is running at a 1.1% pace in the second quarter as the gains in exports and inventories recorded in the first quarter are expected to reverse, Morgan Stanley economists said on Friday.

“Our preliminary expectations for growth in the second quarter sees large drags from net exports and inventories after their contributions in 1Q,” they wrote in a research note.

Gross domestic product increased at a 3.2% annualized rate in the first three months of the year, driven by a smaller trade deficit and the largest accumulation of unsold merchandise since 2015, the Commerce Department said earlier Friday.

(Reporting by Richard Leong)

Source: OANN

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FILE PHOTO: The Deutsche Bank headquarters are pictured in Frankfurt
FILE PHOTO: The Deutsche Bank headquarters are pictured in Frankfurt, Germany, April 25, 2019. REUTERS/Ralph Orlowski/File Photo

April 26, 2019

By Tom Sims

FRANKFURT (Reuters) – Within hours of the collapse of merger talks with Commerzbank, Christian Sewing scrambled to convince investors and employees that Deutsche Bank can stand on its own two feet.

The Deutsche Bank chief executive told staff, many of whom opposed a merger because of significant job losses, that while he had not been “skeptical” about the Commerzbank talks, he was cautious about the chances of success from the start.

And another top Deutsche Bank executive said on Friday that it had been Commerzbank that initiated the talks, suggesting there was no desperation on their part for a deal.

Commerzbank denied that version of events, ending the apparent truce between the normally highly competitive cross-town Frankfurt rivals over the past six weeks.

German hopes of creating a national banking champion able to challenge global competitors were finally dashed on Thursday when Deutsche Bank and Commerzbank ended their talks due to the risks of doing a deal, restructuring costs and capital demands.

For Sewing, the failure to clinch a deal has left the 49-year-old chief executive of Germany’s largest bank, who took over just over a year ago, with his back to the wall.

Credit ratings agency Standard & Poor’s, which downgraded Deutsche Bank last year, said on Friday that Deutsche Bank “will remain under strain”, adding that it “seems to have acknowledged the need to adjust its strategy”.

Under Sewing, a new leadership has tried to revive Deutsche Bank’s fortunes, but it has faced money laundering allegations and failed stress tests, as well as ratings downgrades.

At the heart of the debate over its future is whether it should focus its business on Germany and draw a line under its costly global ambitions to take on Wall Street’s big guns.

“MARKET PLAY”

Without a deal, Deutsche Bank now finds itself back at the mercy of equity and debt markets, with UBS analysts warning that in a “stress scenario” it could again “be forced into a ‘debt-driven capital increase’ even with solid capital ratios”.

“Deutsche remains a levered market play vulnerable to external events,” the UBS analysts said in a note.

Sewing, along with many analysts, believes Deutsche Bank can go it alone in the short-term, but will be counting on a turnaround in market conditions to do so in the long-run given its dependence on volatile investment bank earnings.

“To reach our return objective, we also need to see a revenue recovery in our more market-sensitive business,” Sewing said on Friday after reporting results.

“These revenues are available to us in better market conditions given our leading positions in many of these businesses, but we need to capture them,” he added.

Revenue at Deutsche Bank’s bond trading division fell 19 percent in the first quarter, it said on Friday, underscoring weakness at its investment bank.

If those earnings do not improve, Berlin’s desire to keep its biggest bank out of foreign hands may start to wane.

“Germany’s globally active companies need competitive financial institutions that can support them around the world,” German finance minister Olaf Scholz said on Thursday.

(Writing by Alexander Smith; Editing by Keith Weir)

Source: OANN

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Panama's former president Ricardo Martinelli yells to the media while arriving to the Electoral Court in Panama City
Panama’s former president Ricardo Martinelli reacts to the media while arriving to the Electoral Court in Panama City, Panama April 26, 2019. REUTERS/Erick Marciscano

April 26, 2019

PANAMA CITY (Reuters) – Panama’s electoral tribunal has ruled that former President Ricardo Martinelli, who is awaiting trial on wiretapping charges, cannot take part in elections on May 5 in which he was running for mayor of Panama City and a seat in Congress, a spokesman for Martinelli said on Friday.

“The ruling of the electoral tribunal has disqualified him as candidate,” said the spokesman, Eduardo Camacho, calling the court’s ruling a “political decision.”

Officials at the tribunal did not immediately confirm the ruling, which also was reported in local media in Panama.

Martinelli, a supermarket tycoon who ran the Central American country from 2009 to 2014, was extradited to Panama last June from the United States and charged with spying on 150 people, including politicians, union leaders and journalists.

A judge had previously cleared Martinelli to run for mayor of the capital. His critics vowed to appeal that decision.

(Reporting by Elida Moreno and Stefanie Eschenbacher; Editing by Bill Trott)

Source: OANN

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FILE PHOTO: Amazon boxes are seen stacked for delivery in the Manhattan borough of New York City
FILE PHOTO: Amazon boxes are seen stacked for delivery in the Manhattan borough of New York City, January 29, 2016. REUTERS/Mike Segar/File Photo

April 26, 2019

(Reuters) – Shares of Walmart, Target and other U.S. retailers fell on Friday as Amazon.com Inc unveiled a one-day delivery plan for its Prime members in a move to further disrupt the fiercely competitive retail landscape.

The e-commerce giant’s announcement on Thursday could cause other brands, manufacturers, retailers, and logistics companies to have to invest more aggressively to compete with Amazon and its delivery, analysts said.

Retailers in recent years have poured billions into ecommerce and faster shipping options and are trying to close the gap with Amazon.

“This is about making it more expensive to catch up and affirms our world view that only the largest and smartest will survive,” Bernstein analyst Brandon Fletcher said.

The move is expected to heighten consumer expectations on e-commerce delivery just like Amazon did with its two-day shipping option for members of its loyalty club Prime, noted analysts.

“The faster you ship, the more people buy,” RBC Capital Markets analyst Mark Mahaney said.

The challenge for non-Amazon players was that very few of the existing logistics and parcel delivery players now have the ability to do nationwide one-day delivery, Morgan Stanley analyst Brian Nowak said.

“And even fewer can do it at the vast scale and reasonable cost that AMZN would need for Prime delivery,” Nowak said in a note.

Walmart Inc’s shares fell about 3 percent, while Target Corp dropped about 5 percent in morning trade.

Shares of Kohl’s Corp, Macy’s Inc and Nordstrom Inc fell about 1 percent. Grocer Kroger Co was nearly 3 percent lower, while consumer electronics retailer Best Buy Inc dropped 2.1 percent.

(Reporting by Soundarya J and Akanksha Rana in Bengaluru; Editing by Maju Samuel)

Source: OANN

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A Chinese woman adjusts a Chinese national flag next to U.S. national flags before a Strategic Dialogue expanded meeting, part of the U.S.-China Strategic and Economic Dialogue (S&ED) in Beijing
A Chinese woman adjusts a Chinese national flag next to U.S. national flags before a Strategic Dialogue expanded meeting, part of the U.S.-China Strategic and Economic Dialogue (S&ED) held at the Diaoyutai State Guesthouse in Beijing, July 10, 2014. REUTERS/Ng Han Guan/Pool (CHINA – Tags: POLITICS BUSINESS)

April 26, 2019

By April Joyner

NEW YORK (Reuters) – Even as the lift from optimism over prospects for U.S.-China trade detente shows signs of wearing off for the wider U.S. stock market, upbeat sentiment around China’s economy could bolster shares of materials companies.

Shares of S&P 500 industrial and technology companies, which were buffeted by last year’s tit-for-tat tariffs as well as slowing global demand, have been very responsive to progress in U.S.-China trade relations and a strengthening Chinese economy. This year, those sectors have outpaced the ascent in the S&P 500, which reached a record closing high on Tuesday.

Materials stocks have not been as sensitive, however, even though they also stand to benefit as a stronger Chinese economy lifts global consumption and industrial output. As China has taken measures to stimulate its economy, its economic data have turned more upbeat. That in turn could aid global growth, which has flagged as a result of China’s cooldown.

“What we’re seeing is China spending more on stimulus: fiscal stimulus and monetary stimulus,” said Kristina Hooper, chief global market strategist at Invesco in New York. “That’s likely to be a positive for materials.”

The People’s Bank of China has cut banks’ reserve requirement ratio five times over the past year and is widely expected to ease policy further to spur lending and reduce borrowing costs. The stimulus appears to have boosted Chinese economic data, with factory activity growing in March for the first time in four months.

Yet so far in 2019, the S&P 500 materials index has underperformed the S&P 500 at large, rising just 11.9% compared with 16.7% for the benchmark index. Moreover, it is among the biggest decliners in the period since the S&P’s previous record closing level on Sept. 20. The materials index has fallen 7% over those seven months, versus a 5.2% gain for technology and a 3% loss for industrials. Only the energy index has dropped more over that period.

A trade agreement could serve as a catalyst for a bump in materials shares as a drag on China’s economy is lifted, some market strategists say. Some commodity prices, including those for copper and oil, have ascended this year as the prospects for the global economy have somewhat brightened.

“It all goes back to the global growth outlook,” said Andrea DiCenso, portfolio manager for alpha strategies at Loomis Sayles in Boston. “With the front run in hard data, we’re beginning to see a pretty significant rally.”

Additionally, a trade agreement is expected to include commitments from China to purchase higher quantities of U.S. products such as soybeans, which could benefit companies that make agricultural chemicals, including DowDuPont Inc and CF Industries Holdings Inc.

CF Industries is scheduled to report quarterly results after the bell on Wednesday, and DowDuPont is scheduled to report before the market open on Thursday.

To be sure, even with a trade agreement, some materials companies could face price pressures. Shares of Freeport-McMoRan Inc fell 10.1% on Thursday after the copper mining company posted a lower-than-expected profit as its production slipped and its costs rose.

A rollback of tariffs on Chinese imports, particularly aluminum and steel, would likely prompt a fall in some commodity prices, which could hurt prospects for certain materials companies, said Gene Goldman, chief investment officer at Cetera Investment Management in El Segundo, California.

Even so, those drawbacks may be outweighed by the support for global demand fostered by a U.S.-China trade agreement.

“You could see a number of companies with lowered expectations bring them back up as they talk favorably about the impact that a trade deal would have on them,” said Tim Ghriskey, chief investment strategist at Inverness Counsel in New York.

(Reporting by April Joyner; additional reporting by Sinéad Carew; editing by Jonathan Oatis)

Source: OANN

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