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The Fate of Brexit?

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WASHINGTON -- Those of us who have always thought that Brexit -- Britain's withdrawal from the European Union -- was a bad idea should be feeling self-satisfied and vindicated now. Well, we're not; at least this observer isn't. The reason is obvious. Many of the things that we feared would happen have happened, or might still. Worse, the consequences aren't confined to the United Kingdom.

If you take a crude and unscientific survey of some of Washington's major think tanks, you discover (no surprise) that they're generally agreed that the economic outlook for Britain is grim. Here's a commentary by economist Desmond Lachman of the right-of-center American Enterprise Institute:

"Since the Brexit referendum, the U.K.'s economic performance has deteriorated. It has done so as the U.K.'s future access to the European single market, which buys around 50 percent of the U.K.'s exports, has come into serious question. … At a time that the European economy is already stuttering, with Italy in recession and the German economy on the cusp of recession, the last thing that Europe now needs is a sclerotic UK economy."

A new study from the Peterson Institute for International Economics reviewed the forecasts of 12 economic models and found that only two of them predicted gains from Brexit. Other studies forecast losses up to 8 percent of gross domestic product (GDP). The study also warns that "a no-deal 'crash out'" -- a reversion to higher tariffs rather than a "soft Brexit" of continuing the present no-tariff situation -- "would have serious negative short-run impacts on the U.K., which are essentially impossible to model."

Although EU countries would also lose some exports to the U.K., these are much smaller than the U.K.'s export losses to the EU. Thus, they're more easily made up by boosting exports to other countries, the report contends.

The U.K.'s losses are not just theoretical. Already, some companies are announcing closures of U.K. manufacturing operations, a good example being Honda. Similarly, some banks are moving financial assets (stocks, bonds, other securities) from their London offices to locations on the continent. There is much fear that London will lose its traditional position as Europe's pre-eminent financial center.

Meanwhile, the chaos, confusion and contradictions of Parliament's efforts to find a tenable Brexit policy must seriously undermine confidence in Britain's political system and its ability to attract future investors, domestic and foreign.

The prevailing political anarchy was on public display last week. On March 12, Parliament rejected Prime Minister Theresa May's proposed agreement with the EU for the second time. Then on March 13, it voted down a proposal for the U.K. to leave the EU without an agreement, failing to acknowledge "that this is precisely what will happen unless they reconcile themselves to the very deal they rejected the day before," as Douglas Rediker of The Brookings Institution noted in a blog post. The deadline for deciding is March 29, though that could be extended.

The larger and more significant issue floating over this controversy involves the future of the world trading system. There has been a loss of authority among the corporate executives, governmental officials and economists whose support is crucial if the system is to survive and flourish.

It's not that they have changed their minds about the value of open trade so much as the public has turned more skeptical and hostile to trade expansion. A less supportive public in turn alters the political climate, making governments more nationalistic and leading to more, not fewer, trade barriers. Multinational firms become more cautious in making new investments, because they can't know how much open trade will be tolerated.

Brexit is one example of this break from the past. Others are well-known: the Trump administration's renegotiation of the North American Free Trade Agreement (NAFTA) with Canada and Mexico; its bargaining with China over trade practices; and the imposition of U.S. tariffs on steel and aluminum imports.

The fate of Brexit is just a small part of this much larger story. Is the post-World War II global trading system, constructed gradually over the past half-century or so, breaking down? Or is it just in a state of temporary hiatus? History awaits an answer.

(c) 2019, The Washington Post Writers Group

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European shares fall as tech, auto stocks weigh

The German share price index DAX graph at the stock exchange in Frankfurt
The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, April 5, 2019. REUTERS/Staff

April 8, 2019

(Reuters) – European stocks opened broadly lower on Monday following a week of strong gains, as dismal German trade data hurt auto makers and software company SAP dragged the tech sector lower after it announced another departure in its top management.

The pan-region STOXX 600 index was down 0.13 percent at 0723 GMT, having touched eight-month highs last week.

Germany’s trade sensitive DAX index fell 0.3 percent, breaking a seven day winning streak – its longest since October 2017.

Earlier on Monday data showed that German exports and imports fell more than expected in February, the latest sign that Europe’s biggest economy will likely post meager growth in the first quarter.

Auto stocks underperformed after a near 7 percent surge last week.

BMW, Daimler declined, with both facing possibly hefty fines after EU antitrust regulators charged them with colluding to block the rollout of clean emissions technology.

Continental AG fell 1.7 percent as Kepler Cheuvreux downgraded the auto parts maker to “hold” from “buy”.

By contrast Italian-U.S. carmaker Fiat Chrysler Automobiles NV (FCA) rose after it agreed to pay electric carmaker Tesla Inc hundreds of millions of euros to allow Tesla vehicles to be counted in its fleet to avoid fines for violating new EU emission rules.

Software company SAP weighed the most on the STOXX 600 index, down 1.5 percent as Europe’s most valuable technology company said the head of its cloud business group had quit, the latest in a string of top departures.

Irish stocks, a barometer of Brexit sentiment, ended a six-day winning run.

Britain’s government held out the possibility of compromise with the opposition Labour Party on Sunday to try to win support in parliament for leaving the European Union with a deal. UK Prime Minister Theresa May heads to Brussels this week to ask for a further delay until June 30.

Banco BPM dropped 1.3 percent as Italy’s third biggest lender said it could be interested in tie-ups with banks close to its home turf in the north of the country, comments that appeared to play down a possible deal with Monte dei Paschi di Siena.

Deutsche Bank and Commerzbank dropped 0.4 percent and 1.5 percent respectively. European bank supervisors demanded a detailed roadmap outlining the pace and scale of staff cuts in the two lenders as they explore a merger, according to German daily Handelsblatt’s report.

The two German lenders favor a straightforward merger over more complex ways to structure a deal, Reuters reported on Friday.

(Reporting by Susan Mathew and Medha Singh in Bengaluru; Editing by Raissa Kasolowsky)

Source: OANN

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Privacy lawyers for Google, Intel to appear at senate judiciary hearing on Tuesday: committee statement

FILE PHOTO: The Google logo is pictured at the entrance to the Google offices in London
FILE PHOTO: The Google logo is pictured at the entrance to the Google offices in London, Britain January 18, 2019. REUTERS/Hannah McKay/File Photo

March 11, 2019

WASHINGTON (Reuters) – Privacy lawyers for technology giants Google and Intel will testify before the U.S. Senate Judiciary Committee on Tuesday to discuss consumer controls and opt-ins, the panel said in a statement released on Monday.

The committee’s hearing will examine “the impact on competition and innovation” regarding the California Consumer Privacy Act (CCPA) and the European Union’s General Data Protection Regulation (GDPR), it said.

(Reporting by David Shepardson and Susan Heavey)

Source: OANN

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Bernie Sanders puts focus on healthcare with Medicare for All bill

Democratic U.S. presidential candidate U.S. Sen. Bernie Sanders (I-VT) speaks at a news conference on Capitol Hill in Washington
Democratic U.S. presidential candidate U.S. Sen. Bernie Sanders (I-VT) speaks at a news conference to introduce the "Medicare for All Act of 2019" on Capitol Hill in Washington, U.S., April 10, 2019. REUTERS/Aaron P. Bernstein

April 10, 2019

By John Whitesides

WASHINGTON (Reuters) – U.S. Senator Bernie Sanders unveiled the latest version of his ambitious “Medicare-for-All” plan on Wednesday, moving the healthcare debate among Democratic presidential contenders to center stage in the 2020 race.

The Sanders plan, similar to his 2017 proposal that languished in the Senate, would largely eliminate private insurance and shift all Americans into a Medicare-based government-run healthcare plan that Republicans have criticized as too costly and radical.

The bill has 14 Democratic co-sponsors in the Senate, including four of his presidential rivals – Kirsten Gillibrand, Cory Booker, Kamala Harris and Elizabeth Warren. The other White House contender in the Senate, Amy Klobuchar, supports universal healthcare and expanding Medicare but has not committed to plans that would eliminate private insurance.

A similar measure in the House of Representatives has more than 100 co-sponsors.

“The current debate over Medicare for All really has nothing to do with healthcare; it has everything to do with greed and profiteering,” Sanders said at a Capitol Hill event to roll out the proposal, where he was joined by Gillibrand.

“This is a struggle for the heart and soul of who we are as the American people,” he said.

Sanders, an independent senator from Vermont who mounted an unsuccessful 2016 White House run, has turned the proposal, once dismissed as too fringe, into a centerpiece of the Democratic Party’s agenda heading into the 2020 White House race.

At least 10 other Democrats vying for the right to challenge Republican President Donald Trump in 2020 have backed some similar form of government-run healthcare, and every Democrat supports taking at least smaller steps toward achieving universal coverage.

Other prominent Democrats, including House Speaker Nancy Pelosi, have urged the party to focus on protecting and strengthening the Affordable Care Act, popularly known as Obamacare, which Trump and Republicans have vowed to dismantle.

The Sanders proposal, which has little chance of passage in the Republican-run Senate, expands on his old bill to include coverage of home and community-based long-term care services for people with disabilities.

Sanders does not put a price tag on the proposal, but would raise revenues to help pay for it through a combination of taxes on employers, individuals, businesses and the wealthy. He suggests that healthcare spending and administrative costs would decrease and costs for consumers would be reduced.

The liberal Urban Institute estimated the earlier Sanders plan would cost $32 trillion over a decade, with the additional taxes raising about $15 trillion.

Republicans have criticized the bill as a socialist pipe dream that would be too costly and weaken the U.S. healthcare system. They have promised to make it a key election issue in 2020.

“It’s the same tired, debunked logic that Washington, D.C., knows best and the American people can’t be trusted to decide what’s best for themselves and their families,” Senate Republican leader Mitch McConnell said.

(Reporting by John Whitesidess; editing by Jonathan Oatis)

Source: OANN

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War Room – 2019-Feb-14, Thursday – Andrew McCabe Admits Department Of Justice Attempted To Remove President Trump

Owen Shroyer returns to host the War Room today and as major breaking news to discuss including President Trump declaring a national emergency, signing a bill that doesn’t give full wall funding, and the Department Of Justice admitting they attempted to remove President Trump. We also take callers response to these stories.

Source: The War Room

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Duke survives UCF on Barrett putback in thrilling finish

NCAA Basketball: NCAA Tournament-Second Round-Duke vs UCF
Mar 24, 2019; Columbia, SC, USA; Duke Blue Devils forward RJ Barrett (5) looses control of the ball during the second half in the second round of the 2019 NCAA Tournament at Colonial Life Arena. Mandatory Credit: Bob Donnan-USA TODAY Sports

March 25, 2019

RJ Barrett scored off a rebound with 12 seconds remaining, and Duke made a final defensive stand to pull out a 77-76 victory against Central Florida in the NCAA Tournament’s second round Sunday in Columbia, S.C.

Central Florida’s BJ Taylor missed a runner in the final seconds, and a tip-in attempt by Aubrey Dawkins barely rolled off, allowing top-seeded Duke to advance in the East Region. Duke (31-5) will meet the Virginia Tech-Liberty winner on Friday night in the Sweet 16 in Washington, D.C.

Ninth-seeded Central Florida was up 74-70 with the ball with less than two minutes to play before a turnover. Breaking the other way, Duke’s Cam Reddish hit a 3-pointer, and then teammate Javin DeLaurier missed two free throws with 1:09 to play.

Taylor made two free throws with 45.2 seconds to play for a 76-73 lead.

After Williamson missed a 3-pointer, DeLaurier grabbed the offensive rebound. Williamson drove for a layupand was fouled with 14.4 seconds left, with UCF 7-foot-6 center Tacko Fall fouling out on the play. Williamson missed a chance for a three-point play by leaving the free throw short, but Barrett rebounded and laid it in to put Duke ahead.

Central Florida called timeout with 8.1 seconds remaining to set up the final sequence.

Williamson finished with 32 points, Barrett scored 16, Reddish had 13 and Tre Jones posted 11.

Sunday’s game included Central Florida coach Johnny Dawkins, a former Duke star, going against his alma mater. The coach later was an assistant coach under Duke’s Mike Krzyzewski.

Aubrey Dawkins, the coach’s son, poured in 32 points for the Knights (24-9), while Taylor and Fall both had 15.

Down eight at the break, the Knights scored the first seven points of the second half, resulting in a Duke timeout.

Later it was tied at 57-57 when Fall was called for his fourth foul. Duke went up 64-59 on 3-pointers from Jones, who missed his first six 3-point tries, and Jordan Goldwire.

Reddish, who had 10 points in the first half, was called for his fourth foul at the 13:48 mark.

Central Florida went up 70-68 on Taylor’s 3-pointer with just under four minutes left.

Tied at 34-34, Duke scored eight straight points in 34 seconds late in the first half and took a 44-36 lead to the break.

Duke shot 54.5 percent from the field in the first half, hitting five of 11 of its 3-point attempts.

Fall picked up his second foul with 10:56 to play in the first half. From there, Duke went on a 12-2 run for a 25-21 lead.

Dawkins had 10 points as part of Central Florida’s early 19-13 lead.

–Field Level Media

Source: OANN

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Dubai financial services authority says investigation into Abraaj is ongoing

FILE PHOTO: Naqvi Founder and Group Chief Executive of Abraaj Group attends the annual meeting of the WEF in Davos
FILE PHOTO: Arif Naqvi, Founder and Group Chief Executive of Abraaj Group attends the annual meeting of the World Economic Forum (WEF) in Davos, Switzerland, January 17, 2017. REUTERS/Ruben Sprich/File Photo

April 15, 2019

DUBAI (Reuters) – Dubai’s financial services authority (DSFA) said on Monday its investigation into collapsed Dubai private equity firm Abraaj Capital Ltd and relevant companies and persons was ongoing.

The Dubai regulator added that it was aware of the arrest of two former executives of the Abraaj group, former chief executive, Arif Naqvi, and managing partner, Mustafa Abdel-Wadood, on U.S. fraud charges.

“The DFSA is a regulatory body which oversees the conduct of firms under its jurisdiction in the Dubai International Financial Centre (DIFC). Where appropriate, it has the power to impose administrative sanctions, but does not have a criminal jurisdiction, therefore it does not lay charges or make arrests,” the statement said.

(Reporting by Tuqa Khalid; editing by David Evans)

Source: OANN

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Senior White House adviser Jared Kushner said Tuesday that a detailed plan for a merit-based immigration system will be presented to President Trump, giving priority to skilled immigrants rather than those with family ties to the U.S.

“I do believe that the president’s position on immigration has been maybe defined by his opponents by what he’s against as opposed to what he’s for,” Kushner said at the Time 100 Summit in New York City. “What I’ve done is I’ve tried to put together a very detailed proposal for him.”

KUSHNER: RUSSIA INVESTIGATION HAD ‘HARSHER IMPACT’ ON US THAN ELECTION MEDDLING

Kushner announced that the new immigration proposal, which Trump will receive this week or next, will resemble the point-based systems in Canada, Australia and New Zealand, and will unify people by ensuring strong wages and secure borders while protecting humanitarian values.

“We want to protect our country’s humanitarian values. We want to make sure we’re reunifying families, and we want to do this in a way that allows our country to be competitive long term,” he said. “And my hope is we can really do something that unifies people around what we’re for on immigration.”

“We want to protect our country’s humanitarian values. We want to make sure we’re reunifying families, and we want to do this in a way that allows our country to be competitive long term. And my hope is we can really do something that unifies people around what we’re for on immigration.”

— Jared Kushner

JARED KUSHNER RESPONDS AFTER HASAN MINHAJ CALLS OUT HIS TIES TO SAUDI PRINCE

Kushner denied in the same talk that he has clashed with White House staffer Stephen Miller, who’s seen as tougher on immigration than others, adding that the plan was concocted with the help of Miller and Kevin Hassett, chairman of the Council of Economic Advisers.

“And I say that If that if I can get Stephen Miller and Kevin Hassett to agree on an immigration plan, then Middle East peace will be easy by comparison,” Kushner joked, referring to the Israel-Palestine peace plan he’s working on.

“And I say that If that if I can get Stephen Miller and Kevin Hassett to agree on an immigration plan, then Middle East peace will be easy by comparison.”

— Jared Kushner

After the plan gets presented to Trump, it will likely undergo some changes and then he will decide when to proceed with it, Kushner said.

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“It’s very, very complicated, but it’s a very interesting issue, and if we can solve it, I do think it’s a critical component for America’s long-term competitive advantage,” he added.

The Associated Press contributed to this report.

Source: Fox News Politics

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Brazilian President Jair Bolsonaro on Thursday said his government must make men aware of the dangers of poor hygiene after expressing dismay over the 1,000 penis amputations that apparently occur in his country each year.

“In Brazil, we have 1,000 penis amputations a year due to a lack of water and soap,” he said while speaking to reporters in Brasilia after visiting the Education Ministry. “We have to find a way to get out of the bottom of this hole.”

The far-right leader called the figure “ridiculous and sad,” Reuters reported. A spokeswoman for the Brazilian urology society told the news agency the number is based on its official data for penis amputations.

CLICK HERE TO GET THE FOX NEWS APP

The amputations were conducted out of necessity over untreated infections, along with complications from HIV and various cancers, she said.

Source: Fox News World

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A top Russian diplomat says Russia is willing to negotiate a new nuclear weapons treaty with the United States and China.

Deputy Foreign Minister Sergei Ryabkov told reporters on Friday Moscow is closely following reports in the United States that the U.S. would like to reach a nuclear weapons deal with both Russia and China, and is “willing” to negotiate. The story was reported by CNN earlier Friday.

Ryabkov also said that Russia “would like to convince” the U.S. to adopt a joint statement that would condemn any use of nuclear weapons.

Ryabkov’s comments come just months after the U.S. withdrew from the Intermediate-Range Nuclear Forces Treaty, a cornerstone of the post-Cold War security, and Russia followed suit. Each claims breaches by the other.

Source: Fox News National

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Government dysfunction and an intelligence failure that preceded the Easter Sunday bombings in Sri Lanka are traced to simmering divisions between the president and prime minister after a weekslong political crisis that crippled the country last year.

The government has admitted to a “lapse of intelligence” after officials failed to act upon near-specific information received from foreign agencies. Suicide bombers exploded themselves last Sunday in three churches and three luxury hotels, killing 253 people and wounding 400 more. Authorities said eight Muslim militants blew themselves up at their targets while the wife of one of the attackers blasted herself on being rounded up by police.

The carnage has brought forth arguments that worshippers and holidaymakers fell victim to the rivalry and a lack of communication between the country’s two leaders — President Maithripala Sirisena and Prime Minister Ranil Wickremesinghe.

The Cabinet led by Wickremesinghe says neither he nor his ministers were informed of the intelligence received by the defense authorities. Sirisena is the head of state, defense minister, minister in charge of the police and head of the armed forces. He also chairs the National Security Council, which includes the heads of security agencies and departments. Traditionally the prime minister also plays an important role on the council.

According to Health Minister Rajitha Senaratne, Sirisena has not included Wickremesinghe in national security affairs since a dispute between them came into the open in October last year. This is an unusual departure from the protocol, he said.

Senaratne said that Sirisena was overseas when the attacks took place and even after that, the National Security Council refused to meet with Wickremesinghe as he tried to give them instructions.

Sirisena has also said that he was not informed of the intelligence received and vowed to overhaul the leadership of the defense forces.

The top bureaucrat at the Defense Ministry, Hemasiri Fernando, has resigned at Sirisena’s insistence.

“It is a major factor,” said Jehan Perera, the head of local activist group National Peace Council, referring to the alleged lack of coordination between the leaders contributing to the failure to prevent the attacks.

“The primary responsibility has to be taken by the president, he did not give the information and he did not act,” Perera said. “He had the Ministry of Defense, took the police from the prime minister, chaired the National Security Council meetings and did nothing,” Perera said.

Kusal Perera, a journalist and political commentator, says security and intelligence officials should have acted on the information whether or not they received orders from politicians.

“If they (Wickremesinghe and his party) were not invited to the National Security Council, why did not they say in Parliament that they were not responsible for the security of the country any longer,” said Perera, who is not related to Jehan Perera.

“Saying that now is taking political advantage, not taking responsibility,” he said.

Sirisena and Wickremesinghe belong to different political parties but came together for Sirisena’s presidential campaign in 2015. Their relationships broke down and their differences exploded last year when Sirisena suddenly sacked Wickremesinghe as prime minister and appointed in his place former strongman Mahinda Rajapaksa, whom he defeated in the presidential election. The crisis crippled the country for more than seven weeks to the point of not being able to pass this year’s national budget on time.

A court decision compelled Sirisena to reappoint Wickremesinghe, but the two leaders have been rivals within the same government.

Rajapaksa, who is the minority leader in Parliament, blames the government for weakening intelligence and dropping its guard, which he had maintained to defeat the separatist Tamil Tiger rebels 10 years ago to end the 26-year-old civil war. He also criticized the government for the detention of intelligence officers accused of extrajudicial killings and abductions during the closing days of the war, which he said crippled the security apparatus before the bombings. According to conservative U.N estimates, some 100,000 people were killed in Sri Lanka’s conflict.

Sirisena summoned an all-party conference Thursday to which Wickremesinghe was also invited. At the conference, Sirisena stressed “setting aside all the political beliefs and difference (so that) everybody should collectively commit towards building a peaceful environment within the country,” a statement from his office said.

“It is not a secret that the disagreements between me and the government aggravated over the past two years,” Sirisena told the country’s media executives Friday. “One of the reasons for that is weakening of military intelligence and arresting military officials unnecessarily and my speaking up against it within and outside the government.”

Jehan Perera said that the security threat could prove politically advantageous to Rajapaksa and his family, with a presidential election scheduled at the end of this year. Gotabhaya Rajapaksa, a younger brother of Mahinda, was the powerful defense secretary during his brother’s reign and has expressed his interest to join the contest.

“People are saying we want a stronger leader and they are talking about Gotabhaya. It (the blasts) has worked to their benefit,” Perera said.

Source: Fox News World

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Cyprus police are intensifying a search for the remains of more victims at locations where an army officer, who authorities say admitted to killing five women and two girls, allegedly had dumped their bodies.

Police said Friday’s search will concentrate on a military firing range, a reservoir and a man-made lake near an abandoned mine approximately 32 kilometers (20 miles) west of the capital Nicosia.

On Thursday, the 35-year-old suspect told investigators that he had killed four more people than he had previously admitted to. All the suspect’s alleged victims are foreign nationals.

Police have already found the bodies of a 38-year-old Filipino woman and two as yet unidentified women.

Search crews are now looking for the daughter of the 38-year-old, a Romanian mother and daughter and another Filipino woman.

Source: Fox News World

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