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Irish shares jump as tweaks to deal raise smooth Brexit hopes

The German share price index DAX graph at the stock exchange in Frankfurt
FILE PHOTO: The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, March 11, 2019. REUTERS/Staff

March 12, 2019

By Helen Reid

LONDON (Reuters) – Irish shares outperformed the rest of the euro zone on Tuesday after Britain and the European Union agreed tweaks to Britain’s withdrawal agreement that eased some fears of no-deal Brexit on March 29.

Dublin’s ISEQ climbed 1.4 percent, set for its biggest gain since Feb. 5 and outdoing a 0.1 percent rise in the STOXX 600. The DAX erased early gains to trade flat by 0930 GMT.

Britain’s FTSE 100 fell 0.1 percent as a surge in sterling after British Prime Minister Theresa May won last-minute assurances from the European Union weighed on the multinational exporters that dominate the index. In euro terms, the FTSE 100 has been outperforming European peers.

British lawmakers who rejected May’s withdrawal agreement in January are due to vote on the Brexit deal again on Tuesday.

“It’s difficult to say if this will be enough to see the deal passed tonight, but at least the probability has been increased by this addition to the existing contract,” said Britta Weidenbach, head of European equities at German asset manager DWS.

“The market will probably only react to this in a more positive way once we know what the outcome is going to be.”

Hopes of a smooth outcome to the long Brexit divorce process boosted British housebuilder and bank shares, with Lloyds, RBS and Persimmon among the top European gainers.

With earnings season nearing an end, results were down to just a trickle.

Swiss drug retailer Galenica led gains, jumping 7.2 percent after full-year earnings and dividend beat the market’s expectations.

German carmaker Volkswagen fell 0.6 percent after reporting a decline in operating margins for its core VW brand and announcing it would introduce almost 70 new electric models by 2028.

French engineering firm Spie rose 4.4 percent after reporting stronger-than-expected net income.

Dutch payments firm Adyen dropped 5 percent after pre-IPO investors sold 2.5 million shares at a 9 percent discount.

Shares in Swiss toilet and plumbing supplies maker Geberit fell 2.3 percent after the company said it saw a challenging 2019 because of Brexit and political uncertainty in Italy.

Overall, the fourth-quarter earnings season has been underwhelming. Over the past four months, analysts have cut their earnings growth expectations for 2019 from 9 percent to just 5 percent.

Outside results, Telecom Italia shares fell 3.5 percent to the bottom of the FTSE MIB as a battle between two of its top shareholders, Vivendi and Elliott, ramped up ahead of an AGM later in the day.

Construction materials group Saint-Gobain got a boost from Barclays upgrading it to “overweight”, while Finland’s Konecranes rose 5.4 percent after UBS raised it to “buy”.

Among small-caps, German steel trader Kloeckner & Co climbed 12.4 percent after saying it expects higher sales and core earnings this year.

Swiss baked goods firm Aryzta jumped 10.9 percent after it reported its U.S. margin grew for the first time since 2014.

But shares in Italian luxury goods company Tod’s fell 3.2 percent after it reported a 26 percent decline in profit as marketing costs rose.

(Graphic: Europe earnings growth expectations MARCH 12 link: https://tmsnrt.rs/2UEKSck).

(Reporting by Helen Reid, editing by Larry King)

Source: OANN

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Saudi to free 850 Indian prisoners from its jails: India government

FILE PHOTO: Saudi Crown Prince Mohammed bin Salman and Indian Prime Minister Narendra Modi at Hyderabad House in New Delhi
FILE PHOTO: Saudi Crown Prince Mohammed bin Salman and Indian Prime Minister Narendra Modi meet at Hyderabad House in New Delhi, India, February 20, 2019. REUTERS/Adnan Abidi/File Photo

February 20, 2019

NEW DELHI (Reuters) – Saudi Arabia will release 850 Indians from its prisons after a request from Indian Prime Minister Narendra Modi during its Crown Prince Mohammed bin Salman’s visit to New Delhi, India’s Foreign Ministry said on Wednesday.

Saudi jails hold the greatest number of Indians incarcerated in any country abroad. As of January 2019, 2,224 Indians were jailed in the kingdom for crimes including murder, kidnapping, bribery, cheating, and offences related to drugs and alcohol, according Indian Foreign Ministry figures.

Some 2.7 million Indians in Saudi Arabia form the largest expatriate community in the kingdom, with many working in low-paid jobs in sectors such as construction, domestic services and retailing that Saudis spurn.

“At the request of the PM @narendramodi, His Royal Highness the Crown Prince of Saudi Arabia has ordered the release of 850 Indian prisoners lodged in Saudi jails,” India’s Foreign Ministry spokesperson said in a tweet.

On Monday, Saudi Arabia ordered the release of about 2,100 Pakistani prisoners from its jails, according to Pakistan’s information minister. Prince Mohammed, Saudi Arabia’s de facto ruler, paid a visit to India’s arch regional rival earlier this week, before heading home and then flying to New Delhi.

On Sunday, Saudi Arabia signed investment agreements with Pakistan worth $20 billion. In New Delhi on Wednesday, Prince Mohammed said he expected investment opportunities worth more than $100 billion in India over the next two years.

The Crown Prince’s Asian tour, which will include China, is regarded as part of an effort to help rebuild his reputation abroad after the killing last October of Saudi journalist Jamal Khashoggi, a critic of the Saudi leadership.

Saudi officials have denied accusations that Prince Mohammed ordered Khashoggi’s murder in the Saudi consulate in Istanbul, and have detained 11 suspects in connection with the killing.

(Reporting by Devjyot Ghoshal; Editing by Mark Heinrich)

Source: OANN

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Wealthy San Francisco Liberals Fight Homeless Shelter Being Built Near Their Mansions

A wealthy liberal neighborhood in San Francisco whose residents cast the most votes for Hillary Clinton in the 2016 presidential election is fighting against a proposal to build a new homeless shelter near their gated mansions.

Mayor London Breed has sponsored legislation to fast track a homeless shelter that would house 200 people. However, wealthy liberals living in the affected area have set up a GoFundMe to stop the project which has already hit $80,000 of its $100,000 target.

The GoFundMe page cites concerns over “public safety, drug use, and other problems that a large shelter may bring to the community,” as well as the fact that “a third of the homeless are drug users and some are sex offenders”.

Records show that Mission Bay, one of the areas most heavily targeted by organizers of the GoFundMe, was the most pro-Hillary neighborhood in the entire city of San Francisco, laying down 1,680 Clinton/Kaine votes out of 1,893 ballots cast.

The resident who started the GoFundMe is from South Beach, another area that heavily voted for Hillary Clinton.

Wealthy residents even turned out to protest against the homeless shelter last month, citing worries about “crime and sanitation”.

The homeless shelter would be located a stone’s throw from Google’s San Francisco offices and Gap’s headquarters.

The story once again illustrates how while liberals will virtue signal all day about their concern for the poor and needy, when it comes down to actually doing something about it, they either go AWOL or advocate for the exact opposite.

As Tucker Carlson’s latest bestselling book documents, Democrat politicians who preach the loudest about the needs of minorities and the poor also routinely choose to live in the wealthiest, whitest areas possible – as far away from the poor as they can.

Rich leftists also regularly fight to avoid black and minority children being sent to the same schools that their white children attend, such as when liberal comedian Samantha Bee and her husband tried to prevent the introduction of low income children to the school in New York that their kids attended.

As ever with these hypocrites, it’s do as I say, not as I do.

Meanwhile, thanks to San Francisco’s “progressive” policy of handing out needles to drug addicts, the city’s population of drug addicts now outnumbers its high school students.

San Francisco’s junkie population – many of whom live on the streets and use sidewalks as outdoor toilets – now stands at 24,500, an increase of 2,000 drug users since 2012 and 8,500 more people than the city’s 16,000 high school students.

Despite this increase, the city handed out a record 5.8 million free syringes last year – about 500,000 more than in 2017. There were 9,659 calls complaining about needles littering the streets in 2018, an increase of a third on 2017 numbers.

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Source: InfoWars

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U.S. blacklists Venezuela bank Bandes after arrest of Guaido aide

A man stands outside the Bandes bank headquarters in Caracas
A man stands outside the Bandes bank headquarters in Caracas, Venezuela March 22, 2019. REUTERS/Carlos Garcia Rawlins

March 22, 2019

By Lesley Wroughton

WASHINGTON (Reuters) – The United States imposed sanctions on Venezuela’s development bank, Bandes, a day after the Trump administration warned there would be consequences for the arrest by Venezuelan authorities of opposition leader Juan Guaido’s top aide.

The U.S. Treasury said on Friday it was slapping the sanctions on Banco de Desarrollo Economico y Social de Venezuela, including its subsidiaries in Uruguay and Bolivia.

Congress head Guaido, who invoked the constitution to assume the interim presidency in January, has accused Bandes of being used by President Nicolas Maduro’s government to funnel money outside Venezuela.

The White House said in a statement it was committed to preventing Maduro’s government from stealing Venezuela’s resources and from arresting those pushing for political change.

Venezuela’s information ministry did not immediately respond to a request for comment.

Guaido’s chief of staff, Roberto Marrero, was detained in a pre-dawn raid on Thursday, sparking vows of reprisals from the United States, which along with most Western countries backs Guaido as Venezuela’s rightful leader.

“The United States will not tolerate the arrest of peaceful democratic actors, including members of the democratically-elected Venezuelan National Assembly and those Venezuelans working with interim President Juan Guaido,” the White House said in a statement.

The U.S. Treasury said Maduro tried to move $1 billion out of Venezuela through Banco Bandes Uruguay in early 2019 as he came under increasing pressure from the United States and other countries in the region to step down.

Bandes has received billions of dollars over the past decade from the China Development Bank, in exchange for oil, which the Venezuelan government used to fund infrastructure projects.

Uruguay has stayed neutral on Venezuela’s political crisis and has called for dialogue, while China, Russia and regional ally Cuba have backed Maduro.

But the sanctions on Bandes could test Beijing’s ties with Caracas, since it would impede Venezuela from restructuring its $20 billion debt with China, opposition lawmaker Angel Alvarado said on Friday.

“That makes it even less likely that China will step in to save Maduro,” Alvarado wrote on Twitter. Guaido and his allies have repeatedly argued that China and Russia are more likely to collect on their loans to Venezuela with Maduro out of office.

The sanctions freeze assets belonging to the bank and its subsidiaries, and prevent U.S. citizens from any dealings with Bandes. They follow a raft of other sanctions imposed by the administration of U.S. President Donald Trump in recent months against Maduro, top government officials, and state oil firm PDVSA.

Trump’s national security adviser John Bolton tweeted: “BANDES bank is to Venezuela’s financial sector what PDVSA is to its oil sector. This action will severely affect any attempted currency movements by Maduro and his cronies moving forward. Do not test the resolve of this Administration.”

Maduro’s government accuses Washington of waging a “economic war” to force them from power and has said that the sanctions only harm regular Venezuelans.

The United States also on Friday imposed sanctions on other state-owned Venezuelan banks, including Banco de Venezuela and Banco Bicentenario. It said that Visa, Mastercard and American Express would be prohibited from facilitating transactions involving those banks, beginning in March 2020.

(Reporting by Lesley Wroughton, additional reporting by Angus Berwick and Luc Cohen in Caracas, Editing by Rosalba O’Brien)

Source: OANN

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Yemeni officials: Blast in capital kills 7 children

Yemeni medical officials say a big explosion at a warehouse in the capital killed at least seven children in nearby schools.

The officials say the explosion in Sanaa wounded another 54 people, including schoolchildren. It was not clear what caused the explosion. The Houthi rebels, who have controlled the capital since 2014, sealed off the area.

The rebels say an airstrike by the Saudi-led coalition targeted the warehouse and damaged nearby schools. There was no immediate comment from the coalition, which has been at war with the Iran-aligned rebels since 2015.

The officials spoke on condition of anonymity because they were not authorized to brief media.

Source: Fox News World

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Timeline of the deadly Ethiopian Airlines crash

The news shattered more than two years of relative calm in Africa's skies. As millions on the continent headed to church on Sunday morning, an Ethiopian Airlines plane took off on a routine flight from Addis Ababa for Nairobi and quickly lost control. Six minutes later, all contact was lost. All 157 people aboard were killed, representing a staggering 35 countries. Here is a timeline of how the day unfolded. All times local.

___

8:38 a.m.: Flight ET302 takes off from Bole International Airport in Ethiopia's capital, Addis Ababa. Records shared by Flightradar24 show that the plane's vertical speed quickly becomes erratic.

Shortly afterward: The pilot issues a distress call and is told to return.

8:44 a.m.: Contact with the plane is lost.

10:48 a.m.: The office of Ethiopia's prime minister in a Twitter post gives first word of the crash, offering "deepest condolences to the families of those that have lost their loved ones on Ethiopian Airlines Boeing 737 on regular scheduled flight to Nairobi, Kenya this morning."

11:15 a.m.: Ethiopian Airlines says it believes 149 passengers and eight crew members were on board the plane that crashed near Bishoftu, some 50 kilometers (31 miles) outside the capital.

1:35 p.m.: Ethiopia's state broadcaster reports that all passengers are dead.

2:45 p.m.: Ethiopian Airlines publishes a photo of its CEO standing in a crater amid the wreckage. Little of the plane can be seen in the freshly churned earth.

3:30 p.m.: The Ethiopian Airlines CEO and Kenya's transport minister say Canadians, Chinese, Americans and others are among the more than 30 nationalities of victims.

4:50 p.m.: The office of Ethiopia's prime minister says he has visited the crash site, expressed his "profound sadness" and ordered a full investigation.

5:35 p.m.: Ethiopian Airlines issues a new list of crash victims that includes 35 nationalities.

6:20 p.m.: As sunset approaches at the site, searchers and a bulldozer continue to pick through the scattered remains of the plane. The bulldozer digs for deeply embedded debris.

6:40 p.m.: Ethiopian Airlines says Ethiopian authorities, plane manufacturer Boeing and other international stakeholders will collaborate on an investigation into the cause of the crash.

8:25 p.m.: Ethiopia's House of People's Representatives declares Monday a national day of mourning for all victims.

Source: Fox News World

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Palestinian official: Israel kill unarmed man in West Bank

The governor of the West Bank city of Bethlehem says Israeli soldiers have shot and killed an unarmed Palestinian man near the city.

Kamil Hamid said on Thursday that Israeli troops in the adjacent village of al-Khader fired at a car and wounded the driver the previous night. He says Ahmad Manasra was driving behind him and got out of his vehicle to help the wounded man. As he was returning to his car, Hamid says the Israeli soldiers shot and killed Manasra.

The Israeli military says a soldier stationed at a military post near Bethlehem identified rocks being thrown at Israeli vehicles. In response, he fired his weapon. The military says it is investigating the incident, which comes amid heightened tensions in the West Bank.

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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