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Lufthansa looking to merge European catering unit with peer: sources

Meals are prepared by employees of LSG Group, Lufthansa's airline catering division, at the LSG headquarters in Frankfurt, Germany
FILE PHOTO: Meals are prepared by employees of LSG Group, Lufthansa's airline catering division, at the LSG headquarters in Frankfurt, Germany, November 11, 2016. REUTERS/Kai Pfaffenbach

March 27, 2019

By Arno Schuetze

FRANKFURT (Reuters) – Lufthansa is looking to merge the European operations of its catering unit LSG with a peer as it struggles with low margins in a competitive market on the continent, people close to the matter said.

Lufthansa has provided information to potential bidders and has asked them to make offers for the business in early April, the people said, adding that Lufthansa was not interested in a deal with private equity.

Austria’s Do&Co and Switzerland’s Gategroup are expected to make offers for the European LSG operations, the people said, adding that given its low profitability and low expected value even medium-sized Do&Co could do a deal without a partner.

Lufthansa reiterated that it was considering options for LSG, while Gategroup declined to comment and Do&Co was not immediately available for comment.

While Lufthansa is currently focused on finding a solution for its European operations, a deal for its international business could follow at a later stage, the people said.

The catering business is challenged by a large number of locations it serves, high staff costs and exposure to currency exchange rates, Lufthansa’s Chief Executive Carsten Spohr said recently.

Lufthansa’s LSG group saw adjusted earnings before interest, tax, depreciation and amortization rise 39 percent to 181 million euros last year on flat revenues of 3.2 billion euros. It employs 35,500 staff.

The bulk of profits came from the international business, the sources said. Lufthansa does not provide a regional split of the figures.

The figures were helped by lower restructuring costs.

Do&Co, backed by gastronomy entrepreneur Attila Dogudan, has a market capitalization of 735 million euros. It serves customers at 60 airlines including Lufthansa’s Austrian unit and its core catering business posted 61 million in 2018 EBITDA on sales of 574 million.

Gategroup is owned by Chinese conglomerate HNA, whose current financial strains may dissuade the company from doing a major cash deal, people familiar with the matter have said in the past.

After a failed 2018 listing of Gategroup, Temasek and RRJ Capital subscribed to a five-year mandatory exchangeable bond which upon conversion will account for up to 49 percent of its share capital.

Morgan Stanley is helping Lufthansa in finding a buyer for parts or all of LSG, sources told Reuters in 2018.

(Reporting by Arno Schuetze; Additional reporting by Ilona Wissenbach; Editing by Tassilo Hummel/Keith Weir)

Source: OANN

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20 dead, mostly children, in Nigeria building collapse

Authorities in Nigeria say 20 people are confirmed dead in the school building that collapsed on Wednesday, and most of them are children.

Lagos State Health Commissioner Jide Idris tells The Associated Press that 43 other people were rescued alive.

Officials have said the three-story residential building had been marked for demolition and that the school was operating illegally on the top two floors.

Rescue crews halted their search on Thursday, to the anger of some at the scene, saying they had reached the building's foundation without finding any other victims.

Building collapses are all too common in the West African nation, where new construction often goes up without regulatory oversight.

Source: Fox News World

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ECB extends mandate for Italian bank Carige’s administrators to September 30

FILE PHOTO: The logo of the European Central Bank (ECB) is pictured outside its headquarters in Frankfurt
FILE PHOTO: The logo of the European Central Bank (ECB) is pictured outside its headquarters in Frankfurt, Germany, April 26, 2018. REUTERS/Kai Pfaffenbach/File Photo

March 30, 2019

MILAN (Reuters) – Banca Carige said on Saturday the European Central Bank had extended until Sept. 30 a mandate to three temporary administrators who have been put in charge of the troubled Italian bank.

The bank said the ECB wanted to give the three administrators enough time to complete actions needed for the bank to comply with capital requirements in a sustainable manner.

The ECB has also extended the mandate of a three-member supervisory committee, the bank said.

Carige was placed under special administration at the start of the year after its top investor in December blocked a planned capital raising, derailing a rescue plan financed by the industry.

The bank has said it needs to fill a 630 million euro ($707.11 million) capital shortfall and the temporary administrators are seeking offers from potential buyers by mid-April.

Sources have told Reuters that U.S. funds Varde Partners and BlackRock plan to submit bids.

Under emergency measures approved in January following the ECB’s move, the Italian government stands ready to inject up to 1 billion euros in capital into the bank by the end of September should a private solution failed to come through.

(Reporting by Valentina Za; Editing by Andrew Heavens)

Source: OANN

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Uruguay's president removes commander-in-chief of the army

Uruguay's president has removed the country's commander-in-chief of the army after he questioned how local courts have handled cases involving members of the military accused of dictatorship-era human rights abuses.

The decision by President Tabare Vazquez to dismiss Gen. Guido Manini Rios was announced Tuesday in a statement by the presidency.

The statement said Manini told Vazquez in a meeting that courts had not granted due process to some of those accused of crimes against humanity committed during the 1973-1985 dictatorship. Manini also said that some were sentenced without proof or with forged evidence.

The presidency said he was removed because the decisions of the judiciary must be respected.

More than 40 members of the military have been investigated after being accused of human rights crimes.

Source: Fox News World

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Jet Airways chairman tells pilots he needs more time to finalize rescue deal

Naresh Goyal, Chairman of Jet Airways speaks during a news conference in Mumbai
FILE PHOTO: Naresh Goyal, Chairman of Jet Airways speaks during a news conference in Mumbai, India, November 29, 2017. REUTERS/Danish Siddiqui

March 18, 2019

NEW DELHI (Reuters) – Jet Airways’ Chairman Naresh Goyal told the airline’s pilots on Monday he would need “a further short time” to finalize a rescue deal for the cash-strapped Indian carrier as the process is complex.

In a letter, Goyal said he is “committed to have the process completed as soon as possible and restore much needed stability” to the airline’s operations, and that he would make it a top priority to settle delayed salary payments for pilots and some other staff once a deal is finalised.

He also said that talks for the rescue deal with the airline’s biggest shareholder, Etihad Airways, and lenders, led by State Bank of India (SBI), are ongoing.

Saddled with debt of more than one billion dollars, Jet is struggling to stay afloat. It has delayed payments to banks, suppliers, pilots and lessors – some of whom have forced the airline to ground as many as 40 planes.

(Reporting by Aditi Shah; Edited by Martin Howell)

Source: OANN

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Saudi Arabia proposes extending oil output cut until year-end – Russian agencies

FILE PHOTO: General view of Saudi Aramco's Ras Tanura oil refinery and oil terminal in Saudi Arabia
FILE PHOTO: General view of Saudi Aramco's Ras Tanura oil refinery and oil terminal in Saudi Arabia May 21, 2018. REUTERS/Ahmed Jadallah/File Photo

March 12, 2019

MOSCOW (Reuters) – Saudi Arabia is proposing that a global deal to cut oil output be extended until the year-end, Russian news agencies TASS and Interfax reported on Tuesday, citing an unidentified source close to OPEC.

TASS reported that Saudi Arabia favored the same or more relaxed production quotas under the deal.

(Reporting by Vladimir Soldatkin; Editing by Dale Hudson)

Source: OANN

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Louisville downs Oregon State, earns date with UConn

NCAA Womens Basketball: NCAA Tournament-Albany Regional-Oregon State vs Louisville
Mar 29, 2019; Albany, NY, USA; Louisville Cardinals forward Bionca Dunham (33) drives to the basket as Oregon State Beavers guard Madison Washington (3) defends during the first half in the semifinals of the Albany regional in the women's 2019 NCAA Tournament at the Times Union Center. Mandatory Credit: Rich Barnes-USA TODAY Sports

March 30, 2019

Top-seeded Louisville choked off fourth-seeded Oregon State on Friday night with defense, easing to a 61-44 win in an NCAA Women’s Tournament regional semifinal in Albany, N.Y.

The Cardinals (32-3), who will meet second-seeded Connecticut on Sunday for a ticket to the Final Four on April 5 in Tampa, were led by Sam Fuehring’s 17 points and nine rebounds. Asia Durr also scored 17 points despite making only 5 of 12 shots, and she contributed eight boards and four assists.

But the big story was what Louisville did when the Beavers (26-8) had the ball. The Cardinals limited Oregon State to 17-of-56 shooting (30.4 percent) from the field and allowed only two 3-pointers on 22 attempts. That more than canceled out a 41-33 Beavers advantage in rebounding.

Mikayla Pivec scored 17 points and grabbed nine rebounds for the Beavers, but the rest of her teammates combined to make only 11 of 42 field-goal attempts.

The Albany Region final will be a rematch of a Jan. 31 contest in Louisville, where the Cardinals subdued the Huskies 78-69 to snap a 17-game losing streak against them that dated back to their first meeting in 1993.

Louisville wasted little time putting its stamp on this one. Durr scored six points in a 13-4 run over the game’s first 4:02, a sequence that ended with a 3-pointer and a layup from Fuehring. The Cardinals settled for a 21-15 lead after 10 minutes.

Louisville’s defense ruled the next two quarters, limiting Oregon State to a combined 13 points in that span. The Beavers endured droughts of 2:59 in the second quarter and 4:30 to start the third quarter, keeping them from taking advantage of Louisville’s inability to add to the lead.

Eventually, the Cardinals found the range again, opening up a 44-28 advantage after three periods by rattling off eight straight points in a 1:37 span late in the period. Durr contributed consecutive jumpers, while Bionca Dunham and Dana Evans each added transition layups.

–Field Level Media

Source: OANN

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FILE PHOTO: Shoppers walk past the Debenhams department store on Oxford Street in London
FILE PHOTO: Shoppers walk past the Debenhams department store on Oxford Street in London, Britain December 15, 2018. REUTERS/Simon Dawson

April 26, 2019

(Reuters) – Ailing British retailer Debenhams said two proposed company voluntary arrangements (CVA) could see all its stores remaining open during 2019, with 22 closures planned for next year, putting about 1,200 jobs at risk.

Debenhams’ lenders took control of the retailer earlier this month in a process designed to keep its shops open at the expense of shareholders.

(Reporting by Noor Zainab Hussain in Bengaluru; editing by Gopakumar Warrier)

Source: OANN

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FILE PHOTO: Xiaomi branding is seen on a carrier bag at a UK launch event in London
FILE PHOTO: Xiaomi branding is seen on a carrier bag at a UK launch event in London, Britain, November 8, 2018. REUTERS/Toby Melville

April 26, 2019

BENGALURU (Reuters) – Chinese brands controlled a record 66 percent of Indian smartphone market in the first quarter, led by Xiaomi Corp, a report showed, with volumes rising 20 percent on the back of popularity for brands like Vivo, RealMe and Oppo.

Xiaomi’s India shipments fell by 2 percent over last year, but the Beijing-based company was still the biggest smartphone brand in the country, followed by Samsung Electronics Co Ltd, according to Hong-Kong based Counterpoint Research.

Shipment volumes for Vivo jumped 119 percent, while those of Oppo rose 28 percent.

“Vivo’s expanding portfolio in the mid-tier range ($100 to $180) drove its growth along with aggressive Indian Premier League cricket campaign,” Counterpoint analysts said.

India is the world’s fastest growing market for smartphones, where affordable pricing coupled with features like “selfie” cameras and big screens have popularized Chinese brands.

Video streaming services like Netflix Inc and Hotstar, as well as heavy usage of messaging apps like Facebook Inc’s WhatsApp have further spurred demand.

“Data consumption is on the rise and users are upgrading their phones faster as compared to other regions,” Counterpoint’s Tarun Pathak said.

“As a result of this, the premium specs are now diffusing faster into the mid-tier price brands. We estimate this trend to continue leading to a competitive mid-tier segment in coming quarters.”

(Reporting By Arnab Paul in Bengaluru; Editing by Subhranshu Sahu)

Source: OANN

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Good morning and welcome to Fox News First. Here’s a look at what you need to know today …

EXCLUSIVE: Trump says ‘Sleepy Joe’ Biden doesn’t have what it takes

President Trump, in a wide-ranging, exclusive phone interview with Fox News’ Sean Hannity, dismissed the launch of former Vice President Joe Biden’s presidential campaign, nicknaming him “Sleepy Joe” and saying he’s “not the brightest bulb.” Biden, the president said, has name recognition but he won’t “be able to do the job.” When asked about Sen. Bernie Sanders, I-Vt., Trump criticized his record, saying Sanders had “misguided energy” and asserted that Sanders “talks a lot” but hasn’t accomplished anything. The president referred to former U.S. Rep. Beto O’Rourke of Texas as “a fluke” who had lost much momentum and outright dismissed Sen. Kamala Harris, D-Calif., and South Bend, Ind., Mayor Pete Buttigieg — although he said he was “rooting” for Buttigieg. (Trump could address Biden and the other Democratic presidential candidates when he speaks today before the National Rifle Association.)

The Democratic Party’s youth movement: Biden’s biggest challenge?
Former Democratic National Committee (DNC) chair Howard Dean warned Joe Biden about the troubles he may face in his presidential campaign, especially from the “35-year-olds” who Dean says have been running the party — a clear nod to Rep. Alexandria Ocasio-Cortez, D-N.Y., and fellow freshmen Democrats. “This is a very different party than even the party Joe Biden ran in in 2012. Very different,” Dean continued. “A lot of people could win this race. There’s 20 people in there. I think it’s going to take $20 million to get to the starting line. If you can’t raise $20 million, you’re gone, and I think that’s going to take care of about six or eight of these folks. … But it is not the same party that it was five years ago.” A progressive political group that boosted Ocasio-Cortez’s bid for Congress last year vowed to oppose Biden and blasted him as part of the “old guard.”

More tales from the FBI texts
Text messages between former FBI officials Peter Strzok and Lisa Page indicate they discussed using briefings to the Trump team after the 2016 election to identify people they could “develop for potential relationships,” track lines of questioning and “assess” changes in “demeanor” – language one GOP lawmaker called “more evidence” of irregular conduct in the original Russia probe. Fox News has learned the texts, initially released in 2018 by a Senate committee, are under renewed scrutiny, with GOP Sen. Chuck Grassley and Homeland Security Committee chair Ron Johnson sending a letter Thursday night to Attorney General Bill Barr pushing for more information on the matter. President Trump, speaking on Fox News’ “Hannity” Thursday night, responded to this report by accusing Strzok and Page of an attempted “coup.” “They were trying to infiltrate the administration,” he said.

Kim accuses US of acting in ‘bad faith’
North Korean leader Kim Jong Un, fresh off his summit with  Russian President Vladimir Putin, said the U.S. has been acting in “bad faith” since his Hanoi meeting with President Trump over the stalemated issue of North Korean denuclearization. The North Korean leader told the Korean Central News Agency that, “the situation on the Korean Peninsula and the region is now at a standstill and has reached a critical point,” the Straits Times of Singapore reported. Kim warned that the situation “may return to its original state as the U.S. took a unilateral attitude in bad faith at the recent second DPRK-US summit talks,” the Korean Central News Agency added.

NFL Draft 2019: It’s all about defense
The first round of the 2019 NFL Draft saw a run on defensive players, with eight of the top 12 picks in Nashville coming from that side of the ball. After Oklahoma quarterback Kyler Murray was taken first overall by the Arizona Cardinals, the San Francisco 49ers started a run of four straight front-seven players by taking Ohio State defensive end Nick Bosa with the second overall pick — the highest draft slot for any Buckeye since left tackle Orlando Pace went No. 1 overall to the St. Louis Rams in 1997.

CLICK HERE TO GET THE FOX NEWS APP.

TODAY’S MUST-READS
Fox News’ Ed Henry recalls spending time with Celtics great John Havlicek.
Massachusetts judge accused of helping illegal immigrant evade ICE pleads not guilty.
Rosenstein slams Obama administration for choosing ‘not to publicize full story’ of Russia hacking.
F.H. Buckley: What Democrats have forgotten about citizenship.

MINDING YOUR BUSINESS
Amazon crushes earnings expectations, but revenue growth slows.
Low-tax states among best places to make a living in 2019.
Construction job market booming: These states are hiring.

#TheFlashback
2018: Bill Cosby is convicted of drugging and molesting Temple University employee Andrea Constand at his suburban Philadelphia mansion in 2004; it is the first big celebrity trial of the #MeToo era.
1986: An explosion and fire at the Chernobyl nuclear power plant in Ukraine causes radioactive fallout to spew into the atmosphere. (Dozens of people are killed in the immediate aftermath of the disaster while the long-term death toll from radiation poisoning is believed to number in the thousands.)
1977: Notorious nightclub Studio 54 opens in New York.

SOME PARTING WORDS

Watch the “Special Report” panel take a look at former Vice President Joe Biden’s decision to run for president a third time and the battle for the “soul” of America.

Not signed up yet for Fox News First? Click here to find out what you’re missing.

CLICK HERE to find out what’s on Fox News programming today and over the weekend!

Fox News First is compiled by Fox News’ Bryan Robinson. Thank you for joining us! Have a good day and weekend! We’ll see you in your inbox first thing Monday morning.

Source: Fox News National

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Joe Biden’s brain surgeon said his former patient is “totally in the clear” as speculation over the candidate’s health — with Biden possibly becoming the oldest president in U.S. history — is likely to become a campaign issue.

The former vice president, who had been perceived by many as the strongest potential contender for the Democratic Party’s 2020 presidential nomination, formally announced his candidacy Thursday.

But Biden’s age – 76 – is expected to become a source of attacks from a younger generation of Democrats not because of obvious generational differences, but possibly for actual health concerns if Biden gets into office.

WHY THE MEDIA ARE CONVINCED JOE BIDEN WILL IMPLODE

Biden himself agreed last year that “it’s totally legitimate” for people to ask questions about his health if he decides to run for president, given his medical history — which has included brain surgery in 1988.

“I think they’re gonna judge me on my vitality,” Biden told “CBS This Morning.” “Can I still run up the steps of Air Force Two? Am I still in good shape? Am I – do I have all my faculties? Am I energetic? I think it’s totally legitimate people ask those questions.”

“I think they’re gonna judge me on my vitality. …  I think it’s totally legitimate [that] people ask those questions.”

— Joe Biden

But Dr. Neal Kassell, the neurosurgeon who operated on Biden for an aneurysm three decades ago, told the Washington Examiner that Biden appears to be “totally in the clear” — and even joked that the operation made Biden “better than how he was.”

“Joe Biden of all of the politicians in Washington is the only one that I’m certain has a brain, because I have seen it,” Kassell said. “That’s more than I can say about all the other candidates or the incumbents.”

“Joe Biden of all of the politicians in Washington is the only one that I’m certain has a brain, because I have seen it.”

— Dr. Neal Kassell

BIDEN’S CLAIM HE DIDN’T WANT OBAMA TO ENDORSE TRIGGERS MOCKERY

At the same time, however, Biden hasn’t been forthcoming about his health at least since 2008 when he released his medical records as a vice presidential candidate. The disclosure that time revealed some fairly minor issues such as an irregular heartbeat in addition to detailing previous operations, including removing a benign polyp during a colonoscopy in 1996, the outlet reported.

It remains unclear if Biden had more aneurysms. Some medical experts say that people who have had an aneurysm can have another one.

An aneurysm, or a weakening of an artery wall, can lead to a rupture and internal bleeding, potentially placing a patient’s life in jeopardy.

Biden won’t be the only Democrat grappling with old age. Sen. Bernie Sanders, another 2020 frontrunner, is currently 77 years old and agreed with Biden last year that their ages will be an issue in the race.

“It’s part of a discussion, but it has to be part of an overall view of what somebody is and what somebody has accomplished,” Sanders told Politico.

“Look, you’ve got people who are 50 years of age who are not well, right? You’ve got people who are 90 years of age who are going to work every day, doing excellent work. And obviously, age is a factor. But it depends on the overall health and wellbeing of the individual.”

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Sanders released his medical records in 2016, with a Senate physician saying in a letter that the senator was “in overall very good health.”

Source: Fox News Politics

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German carmaker Daimler endured a weak start to the year, echoing troubles at other major manufacturers, as sales in the big Chinese market stuttered.

The company said Friday that its net income fell to 2.1 billion euros ($2.3 billion) in the first quarter from 2.3 billion euros during the same period a year earlier, while revenue dipped to 39.7 billion euros from 39.8 billion euros.

Vehicle sales fell 4% to 773,800 units, with a double-digit percentage drop in China offsetting gains in other markets like the U.S. and Europe.

The company said there were also problems with high inventories and bottlenecks in the supply chain.

Chairman Dieter Zetsche said that “we cannot and will not be satisfied with this — as expected — moderate start to the year.”

Source: Fox News World

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