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Golfer Phil Mickelson says he used consultant in college admissions scandal

Golfer Phil Mickelson said on Twitter Thursday that he is among “thousands” who used the college consulting company accused of orchestrating a massive college admissions bribery scheme.

Mickelson said his family was shocked by the recent revelations about the consultant, William Singer.

Mickelson’s daughter attends Brown University in Providence, R.I.

The university did not respond to a request for comment.

FELICITY HUFFMAN, LORI LOUGHLIN MOCKED BY FELLOW CELEBRITIES OVER COLLEGE ADMISSIONS CHEATING SCANDAL

Mickelson emphasized that his family was not involved in any fraud.

The golfer has not been charged with a crime or implicated in the bribery scandal.

Federal prosecutors said Singer led a scheme in which wealthy parents bribed sports coaches and other officials to get their children entry to elite universities.

More than 50 people have been charged — prominent among them were TV actresses Felicity Huffman and Lori Loughlin.

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The colleges have cast themselves as victims and have moved to distance themselves from the coaches, firing or suspending them.

The Associated Press contributed to this report.

Source: Fox News National

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Florida mom was under influence as toddler nearly drowned in hot tub: police

A Florida woman was charged with child neglect after police say her son, 3, nearly drowned in a hotel hot tub while she was intoxicated and using drugs.

The woman, Apryl Connolly, 36, was arrested Monday and charged with neglect of a child causing great bodily harm after video surveillance at Perry’s Ocean Edge Resort showed her son getting into a hot tub on Sunday night and sinking to the bottom, Fox 35 reported.

Apryl Connolly, 36, was charged with an additional count of tampering with physical evidence after police said she threw a pill into a nearby trash can.

Apryl Connolly, 36, was charged with an additional count of tampering with physical evidence after police said she threw a pill into a nearby trash can. (Volusia County Corrections)

An incident report obtained by WFTV said Connolly was watching her twin sons while her husband gathered the family's belongings.

FLORIDA INMATE PUNCHES PUBLIC DEFENDER IN HEAD DURING COURT HEARING, SHOCKING VIDEO SHOWS

That’s when a hotel employee watching the security cameras noticed one of the boys step into the hot tub and slip below the water's surface. The report said that she radioed another staff member, who was seen in the video jumping in and pulling the boy out.

The man was seen performing CPR; the report said the boy was not breathing and had no pulse.

Eventually, after multiple attempts at CPR, the child began to breathe again.

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He was taken to Arnold Palmer Children’s Hospital, where he was listed in serious condition.

Police said Connolly admitted to taking three shots of tequila, and had mixed alcohol while smoking pot, Fox 35 reported. She was charged with an additional count of tampering with physical evidence after police said she threw a pill into a trash can.

Source: Fox News National

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Wall Street weekahead: U.S. funds focus on media stocks, banks to find value as mid-caps rally

Traders work on the floor at the NYSE in New York
FILE PHOTO: Traders work on the floor at the New York Stock Exchange (NYSE) in New York, U.S., March 13, 2019. REUTERS/Brendan McDermid

March 15, 2019

By David Randall

NEW YORK (Reuters) – The S&P 400 Mid-Cap index has surged to its best start to a year since 1991, both rewarding fund managers and forcing them to work harder to seek out bargains in a group that is now the most expensive part of the U.S. market based on their historical averages.

The rally in mid-cap stocks – companies with a market valuation between $2 billion and $10 billion – has come during a broad rally in global stock markets as investors price in a resolution in the trade talks between the United States and China and fewer interest rate hikes by the Federal Reserve.

Mid-caps are up 14 percent for the year to date and sport an average price-to-earnings ratio of 16.9 times forward earnings, for their highest valuation premiums to small-cap stocks since 2017, according to Bank of America Merrill Lynch research.

Yet fund managers from Janus Henderson, Hotchkis & Wiley, and Fairpointe Capital are among those who are still finding values by concentrating on financial, energy and media stocks and eschewing the high-priced real estate investment trusts and utility companies that make up nearly a fifth of the benchmark index.

“The window for the big bargain bin was the fourth quarter and that was about it,” said Kevin Preloger, a portfolio manager of the $3.3 billion Janus Henderson Mid Cap Value fund. “We’re looking for companies that have good balance sheets and good cash flow, but the tough part is reasonable valuations.”

Preloger’s fund is finding them in financial companies such as M&T Bank Corp and Hartford Financial Services Group Inc that are increasing their stock buybacks at the same time they have been beating analysts’ earnings expectations. Shares of M&T, for instance, are up 20.8 percent since the start of the year and trade at a forward price-to-earnings ratio of 11.8.

“Financials are the cheapest sector in the space, and their earnings are also growing,” Preloger said.

Stanley Majcher, a portfolio manager of the $1.4 billion Hotchkis & Wiley Mid-Cap Value fund, is buying into overlooked financial and energy stocks because he considers them less risky than utility companies or REITs with higher valuations.

“Energy is very out of favor and there’s a perception that it’s a risky business because oil prices are likely to be low for a long period of time because of the market share war between OPEC and the U.S.,” he said. “But we see low volatility of demand and more discipline on the supply side.”

Among its largest holdings, Majcher’s fund has several energy companies, including Whiting Petroleum Corp, Kosmos Energy Ltd and Ophir Energy PLC, according to Morningstar data, with mixed results for the year to date. Shares of Whiting are up 12.4 percent year-to-date, while shares of Ophir are up nearly 53 percent over the same time.

Thyra Zerhusen, a portfolio manager of the $2.6 billion AMG Managers Fairpointe Mid Cap fund, said her fund is finding opportunities in media stocks such as broadcast company Tegna Inc, which was spun off of Gannett Co, magazine and local broadcasting company Meredith Corp, and New York Times Co, all of which should see a significant boost in revenues from the 2020 presidential and congressional elections, she said.

“With everybody running for president, the political advertising goes to these smaller market stations. Newspapers are almost non-existent now,” except for the New York Times, which continues to grow its digital subscriptions, she said.

She is also adding opportunistic positions in companies such as Westinghouse Air Brake Technologies Corp, which completed its merger with the transportation unit of General Electric Co on Feb. 25. Shares of the company are up 2.9 percent year-to-date, and remain 35 percent below where they were trading six months ago.

“We’re trying to add stocks where there may be a short-term problem hitting the share price but the long-term outlook looks okay,” she said.

(Reporting by David Randall; Editing by Jennifer Ablan and Leslie Adler)

Source: OANN

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Washington Post faces backlash after Sri Lanka attacks for focus on ‘far right’

The Washington Post sparked backlash on Monday for an article that focused on reaction from the “far right” after the Sri Lanka attacks on Christians, with at least one analyst saying it's been a common focus for the newspaper after multiple crises, regardless of the cause.

An “analysis” piece published on the church and hotel massacres that killed nearly 300 people and wounded more than 500 others kept the focus on the reactions of “far-right” politicians around the world. It noted that France’s National Rally leader Marine Le Pen said her thoughts were with “persecuted Christians around the world” who are “targeted for their faith.”

The piece also highlighted Germany’s “Alternative for Germany” party, who decried the attack “against us Christians.” In addition, it included reactions from British provocateur Katie Hopkins, who called out London Mayor Sadiq Khan’s response to Sri Lanka compared to his response after the anti-Muslim attack in Christchurch, New Zealand, as well as former Reagan aide Frank Gaffney, who was “best known for his anti-Muslim rhetoric,” as the Post reported.

The headline, “Analysis: Sri Lanka church bombings stoke far-right anger in the West,” triggered a stir on social media.

The Daily Caller’s Peter Hasson pointed out a pattern of a “far-right” focus the WaPo has had after recent events, including the New Zealand terror attack and the recent fire that severely damaged the Notre Dame Cathedral in Paris.

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“The phrase ‘far-right’ is a click magnet for left-of-center audiences,” Hasson tweeted.

The Post did not immediately respond to Fox News' request for comment.

Source: Fox News World

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Rep. Maloney: 9/11 First Responders Deaths Climbing

The number of first responders who have died of cancer and other complications after the 9/11 attacks in 2001 will soon surpass the number of people who were killed in the attack itself, Rep. Carolyn Maloney, D-N.Y., said Monday, speaking out in favor of a bipartisan bill that will make a compensation fund permanent.

"We have 85 members of Congress already on our bill before we've introduced it, the Never Forget the Heroes Act, which would restore any funding that's been cut and make the Victims Compensation Fund permanent," Maloney said told MSNBC's "Andrea Mitchell Reports." "We will not stop until we pass this."

The 9/11 compensation fund is running out of money and will cut future payments by 50 to 70 percent, officials said earlier this month.

Former "Daily Show" host Jon Stewart, who has been fighting to keep the fund alive, and first responder John Feal called the continued response to help victims slow.

"It's an insult that they keep continuing to put a date, an arbitrary date, on legislation, five years here, five years there," Feal said. "Everybody knows these cancers and these respiratory illnesses have different latency periods. I mean, come on. I mean it's just insulting. We're sick and dying, but we're not stupid."

Rep. Jerry Nadler, D-N.Y., who chairs the House Judiciary Committee, said Sen. Cory Gardner, D-Colo., and a few other Republican senators are backing the bill, but now it is time to extend the compensation fund for 70 years.

Source: NewsMax Politics

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Asian shares steady ahead of Fed meeting; May’s Brexit deal in chaos

FILE PHOTO: Men look at stock quotation boards outside a brokerage in Tokyo
FILE PHOTO: Men look at stock quotation boards outside a brokerage in Tokyo, Japan, December 5, 2018. REUTERS/Issei Kato

March 19, 2019

By Tomo Uetake

Asian shares treaded water on Tuesday ahead of a U.S. Federal Reserve policy meeting, hovering near six-month highs, while sterling was choppy as the speaker of Britain’s parliament banned another vote on same Brexit deal.

MSCI’s broadest index of Asia-Pacific shares outside Japan was virtually flat, just a hair away from the highest level since Sept. 21.

Japan’s Nikkei average dropped 0.5 percent, while Australian stocks eased 0.1 percent.

All three major U.S. indexes rose overnight, lifted by banks and tech names, with the Dow Jones Industrial Average, the S&P 500, and the Nasdaq Composite adding between 0.3 and 0.4 percent each. [.N]

“Speculators appear to be betting on rise in stock prices on the back of a dovish Fed. The Fed is unlikely to kill such hopes. Yet there is a risk the Fed could tone down its dovishness,” said Masanari Takada, cross-asset strategist at Nomura Securities.

With signs of global economic growth slowing, traders were focused on the Federal Reserve, which is kicking off its two-day policy meeting on later in the day, for clues about the likely path of U.S. borrowing costs.

In particular, investors will be focusing on whether policymakers have sufficiently lowered their interest rate forecasts to more closely align their “dot plot”, a diagram showing individual policymakers’ rate views for the next three years.

Also expected is more detail on a plan to stop cutting the Fed’s holdings of nearly $3.8 trillion in bonds.

“A key focus is when the Fed will omit the word ‘patient’ from its statement, as that would be a pre-requisite for a rate hike,” said Toru Yamamoto, chief fixed income strategist at Daiwa Securities.

In the currency market, the pound found firmer footing on Tuesday after slipping to as low as $1.3183 overnight as lawmakers cast doubt on Prime Minister Theresa May’s third attempt to get parliament to back her Brexit deal. [GBP/]

May’s Brexit plans were thrown into further turmoil on Monday when the speaker of parliament ruled that she could not put her divorce deal to a new vote unless it was re-submitted in fundamentally different form.

May has only two days to win approval for her deal to leave the European Union if she wants to go to a summit with the bloc’s leaders on Thursday with something to offer them in return for more time.

Meanwhile, senior diplomats said the European Union leaders could hold off making any final decision on any Brexit delay when they meet in Brussels later this week, depending on what exactly May asks them for.

The dollar index against a basket of six major currencies barely moved and was at 96.498.

The Japanese yen edged up 0.1 percent to 111.27 yen to the dollar, while the euro was almost flat at $1.1334.

Oil prices rose to near four-month highs on Monday, supported by the prospect of extended OPEC-led oil supply curbs and signs of inventory declines in U.S. crude stockpiles. [O/R]

Early on Tuesday, U.S. crude futures slipped 0.2 percent to $58.99 a barrel.

(Reporting by Tomo Uetake; Additional reporting by Hideyuki Sano; Editing by Kim Coghill)

Source: OANN

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Police: 50 die from tainted liquor in India

Indian police say at least 50 people have died and another 50 have been sickened after drinking tainted liquor in two separate incidents in India's remote northeast.

Police officer Julie Sonowal says the victims were mostly tea plantation workers in the Golaghat and Jorhat districts in Assam state.

The workers consumed tainted liquor laced with methyl alcohol, a chemical that attacks the central nervous system, on Thursday and started falling unconscious. They were rushed to hospitals and the death toll had increased to 50, Sonowal said.

The owner of a brew-making unit and four others have been arrested.

Deaths from illegally brewed alcohol are common in India because the poor cannot afford licensed brands. Illicit liquor is cheap and often spiked to increase potency.

Source: Fox News World

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The headquarters of Wirecard AG is seen in Aschheim near Munich
FILE PHOTO: The headquarters of Wirecard AG, an independent provider of outsourcing and white label solutions for electronic payment transactions is seen in Aschheim near Munich, Germany April 25, 2019. REUTERS/Michael Dalder

April 26, 2019

BERLIN (Reuters) – Wulf Matthias will not stand for a second term as Wirecard’s chairman in 2020, German daily Handelsblatt said on Friday, citing sources in the financial industry.

For age reasons alone this would not be an option for Matthias, aged 75, Handelsblatt added.

Matthias will keep his mandate until it ends in 2020, the paper quoted a company spokeswoman as saying.

Wirecard was not immediately available for comment when contacted by Reuters.

(Reporting by Tassilo Hummel; Editing by Thomas Seythal)

Source: OANN

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FILE PHOTO: The Credit Suisse logo is pictured on a bank in Geneva
FILE PHOTO: The Credit Suisse logo is pictured on a bank in Geneva, Switzerland, October 17, 2017. REUTERS/Denis Balibouse/File Photo

April 26, 2019

ZURICH (Reuters) – Shareholders approved Credit Suisse’s 2018 compensation report with an 82 percent majority on Friday, overriding frustrations expressed at its annual general meeting over jumps in executive pay during a year its share price plummeted.

Three shareholder advisers had recommended investors vote against Switzerland’s second-biggest bank’s remuneration report, while a fourth backed the report but expressed reservations about whether management pay matched performance.

The approval marked a slight increase over the 80.8 percent support garnered for the bank’s 2017 compensation report.

(Reporting by Brenna Hughes Neghaiwi; Editing by Michael Shields)

Source: OANN

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FILE PHOTO: Traders work on the trading floor of Barclays Bank at Canary Wharf in London
FILE PHOTO: Traders work on the trading floor of Barclays Bank at Canary Wharf in London, Britain December 7, 2018. REUTERS/Simon Dawson/File Photo

April 26, 2019

By Simon Jessop and Sinead Cruise

LONDON (Reuters) – Activist investor Edward Bramson is likely to fail in his attempt to get a board seat at Barclays’ annual meeting next week, even though shareholders are dissatisfied with performance of the group’s investment bank.

New York-based Bramson’s Sherborne Investors and the board of the British bank have been sparring for months over Barclays’ strategy.

Bramson wants to scale back Barclays’ investment bank to reduce risk and boost shareholder returns. Barclays Chief Executive Jes Staley remains staunchly committed to growing the business out of trouble.

After failing to persuade Staley to change course since he began building a 5.5 percent stake in the bank in March last year, Bramson hopes a board seat will rachet up the pressure.

Both sides have written to shareholders pitching their case and Bramson has courted investors in one-on-one meetings, although none have publicly backed him yet.

Interviews by Reuters with five institutional investors in Barclays suggest Bramson has failed to persuade them.

Sherborne declined to comment.

Mirza Baig, head of investment stewardship at top-40 shareholder Aviva Investors, said Bramson was welcome on the bank’s register but the boardroom was a step too far.

“He has created a lot of value at other businesses, but, generally, when he has come in as executive chair and taken full control. This would be a different case where he would just be one lone voice on the board,” he said.

A second Barclays shareholder said he backed Bramson’s goal of improving returns but via an “evolutionary” approach.

“If you look at banks that have tried to restructure their operations in investment banking – you look at Natwest Markets, Deutsche Bank – I struggle to think of an example where a roughshod restructuring has been accretive to shareholder value.”

A third, top-30 investor said he had been impressed by incoming Chairman Nigel Higgins’ grasp of the challenge in hand, and felt investors would give him time.

“Management know they have to execute and deliver improved returns… [Higgins] will continue to re-shape the board but obviously he didn’t feel that having someone with a diametrically opposed view on it would be helpful.”

A fourth, top-30 investor agreed: “We voted for the chairman to come in and it would be crazy to allow an activist to join the board (at this time).”

Jupiter Fund Management, the 24th largest investor, said it also planned to vote against Bramson.

Barclays has nearly 500 institutional shareholders, Refinitiv data showed.

Since Staley joined Barclays in 2015, the investment bank returns relative to capital invested have increased but are still underperforming the overall business.

Barclays’ first-quarter figures showed the investment bank posted a 6 percent drop in income from its markets business and a 17 percent fall in banking advisory fees.

Returns in the investment bank fell to 9.5 percent from 13.2 percent a year ago.

Famed for successful campaigns against smaller British companies in sectors from chemicals to advertising, Bramson’s board seat pitch has been rebuffed by shareholder advisory firms.

Institutional Shareholder Services, the world’s biggest, said Bramson’s proposal “falls short of what can reasonably be expected from a shareholder trying to address issues at a 28 billion pounds, systemically important bank”.

Glass Lewis also flagged concern about Bramson’s lack of banking experience and “questionable” shareholding structure, referring to Sherborne’s use of derivative contracts to hedge losses should its strategy fail.

Critics said the arrangement meant his interests are not truly aligned with those of other long-term shareholders.

British advisory firm Pirc, however, said it recommended that investors abstain in the vote on Bramson’s proposal as a challenge to the board to do better in the year ahead – or face a similar contest in 2020.

(Editing by Jane Merriman)

Source: OANN

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https://a57.foxnews.com/static.foxnews.com/foxnews.com/content/uploads/2019/04/918/516/02_2.jpg?ve=1&tl=1

After an over 15-month pregnancy, “Akuti,” a 7-year-old Greater One Horned Indian Rhinoceros, gave birth as a result of induced ovulation and artificial insemination at Zoo Miami, April 23, 2019.

Ron Magill/Zoo Miami

https://a57.foxnews.com/static.foxnews.com/foxnews.com/content/uploads/2019/04/918/516/02_2.jpg?ve=1&tl=1

Source: Fox News World

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FILE PHOTO: File photo of a Chevron gas station sign in Del Mar, California
FILE PHOTO: A Chevron gas station sign is seen in Del Mar, California, in this April 25, 2013 file photo. REUTERS/Mike Blake/File Photo

April 26, 2019

(Reuters) – U.S. oil and natural gas producer Chevron Corp reported a 27 percent fall in quarterly earnings on Friday, hit by lower crude prices and weaker margins in its refining and chemicals businesses.

Net income attributable to the company fell to $2.65 billion, or $1.39 per share, for the first quarter ended March 31, from $3.64 billion, or $1.90 per share, a year earlier.

Earlier in the day, larger rival Exxon Mobil Corp reported earnings well below analysts’ estimates, as margins in its refining business were hurt by higher Canadian prices and heavy scheduled maintenance.

(Reporting by Arathy S Nair in Bengaluru; Editing by Saumyadeb Chakrabarty)

Source: OANN

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