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Hogan Accuses RNC of Shielding Trump From Primary Challenge

Maryland Gov. Larry Hogan, a Republican, blasted the Republican National Committee for attempting to shield President Donald Trump from a primary challenge, Politico reports.

Hogan, who is considering making a 2020 bid to unseat Trump, said he expects to make a trip to New Hampshire this spring. But he remains concern over the RNC’s backing of the president.

“Typically, they try to be fair arbiters of a process and I’ve never seen anything like it and I’ve been involved in the Republican Party for most of my life,” he told Politico.

“It’s unprecedented. And in my opinion, it’s not the way we should be going about our politics. It’s very undemocratic and to say, ‘We’re in some cases not going to allow a debate, we may not have a primary…’”

“And the question is, what are they afraid of? Because on the one hand you look at polls, 70 percent of Republicans support the president in a primary. Why are they so concerned? “

Politico reported that the RNC passed a resolution giving Trump its “undivided support.” And the president has launched a 2020 campaign organization that incorporates the RNC.

In an interview with CBS News, Hogan said he was being pushed by some supporters to enter the race.  

“I would say I'm being approached from a lot of different people and I guess the best way to put it is, I haven't thrown them out of my office,” he said.

Source: NewsMax Politics

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UPM to close magazine paper machine in Germany, cutting 160 jobs

FILE PHOTO: Magazine paper rolls are seen at UPM-Kymmene’s paper mill in Kaukas, Lappeenranta
FILE PHOTO: Magazine paper rolls are seen at UPM-Kymmene’s paper mill in Kaukas, Lappeenranta, Finland March 9 2016. Picture taken March 9, 2016. Reuters/Jussi Rosendahl/File Photo

April 2, 2019

HELSINKI (Reuters) – Finnish paper maker UPM said on Tuesday it planned to close a magazine paper machine in Germany, cutting output to match weaker demand and lowering costs.

UPM said it expected to cut 160 jobs at the Plattling mill near the Czech border and reduce the annual capacity of coated mechanical paper by 155,000 tonnes.

UPM is one of the world’s largest makers of magazine paper, a sector which has been among the worst hit by a shift to digital publishing.

“Paper markets globally have been declining consistently over the past 10 years,” Winfried Schaur, Executive Vice President at UPM Communication Papers, which includes magazine papers, said in a statement.

On Jan. 31, UPM forecast good demand in 2019 for most of its papers – excluding its Communications Papers unit, where it saw demand continuing to decline.

UPM will book 30 million euros ($34 million) in restructuring charges in the second quarter related to the closure, which will generate annual savings of 17 million euros.

(Reporting by Tarmo Virki; Editing by Mark Potter)

Source: OANN

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Credit Suisse under fire from proxy advisor for ‘unjustified’ CEO bonus

CEO Thiam of Swiss bank Credit Suisse awaits the company's annual news conference in Zurich
CEO Tidjane Thiam of Swiss bank Credit Suisse awaits the company's annual news conference in Zurich, Switzerland February 14, 2019. REUTERS/Arnd Wiegmann

April 8, 2019

ZURICH (Reuters) – Credit Suisse’s shareholders should vote against the bank’s compensation report at the April 26 annual general meeting, proxy advisor Glass Lewis said, citing an “unjustified CEO bonus increase” for Chief Executive Tidjane Thiam.

Thiam was awarded 12.65 million Swiss francs ($12.66 million) in total compensation in 2018, with short term incentive awards (STI) of 4.94 million francs. That is up from 9.7 million francs total compensation and 3.98 million francs in STI in 2017.

“We are once again troubled by the board’s immediate exercise of upward discretion in increasing the CEO’s short-term incentive opportunity for the past fiscal year, which appears as an unnecessary anticipation of a reward for potential future results,” Glass Lewis wrote in a report received by Reuters on Monday.

(Reporting by John Miller; Editing by Kirsten Donovan)

Source: OANN

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Michigan men accused of wiring $88M overseas claim it was for their families

Three Michigan men accused of wiring $88 million to multiple overseas accounts claim they did nothing wrong, arguing they were just sending the money to relatives.

Federal prosecutors, however, claim the trio created phony businesses with the express purpose of moving large amounts of cash out of the country.

Omar Alhalmi, 38, was charged last month with funneling $22.3 million to Yemen and other countries, while Fahd Samaha, 45, and Maged Alsabahi, 29, are accused of running an illegal cash delivery operation from 2013 through 2015, the Detroit Free Press.

4 PEOPLE KILLED, INCLUDING 3 CHILDREN, IN POSSIBLE MURDER-SUICIDE IN MICHIGAN: OFFICIALS

According to indictments filed Jan. 22, the three men engaged in secret banking practices by creating multiple fake businesses by using the addresses of vacant buildings, storefronts of residences and used “straw business owners” or “fronts” to help send millions to various countries, including Yemen and China.

Prosecutors claim Alhalmi never disclosed where the money came from and where it was going and created at least 13 phony business bank accounts from 2011 to 2016 to access the banking industry’s wiring service, the Free Press reported.

However, Alhalmi’s attorney claims the government knew exactly what he was doing and there was nothing illicit about where the money came from or where it was going.

Nabih Ayad told the Free Press that Alhalmi and the other two men collected from people in the Yemeni community who wanted to send cash to loved ones back home. He said users were charged a fee to have their money wired back to Yemen.

MICHIGAN COMMUNITY REELING AFTER 3 TEENS COMMITTED SUICIDE IN LAST EIGHT MONTHS

“Not everyone has a bank in the old country,” he told the newspaper. “You’re talking about a large Yemeni community (in metro Detroit). That how they get money back home.”

He added: “They are just creating an opportunity for their loved ones to receive money…In the olden days, they used to just pass it off by hand. Here, they are doing it through a wiring service.”

Ayad said he believes the government is being overzealous in the case and that the government has never suggested the money wound up in the wrong hands.

“In my client’s case, the government had already visited his business in 2013 and never told him to stop doing it,” he added.

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The three men are charged with using the filing of a false currency transaction report and operating an unlicensed money transmitting businesses. The crimes carry a maximum punishment of five years in prison.

Source: Fox News National

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Ethiopia inquiry shows Boeing MAX hurtling uncontrolled to disaster

FILE PHOTO - Ethiopian Federal policemen stand at the scene of the Ethiopian Airlines Flight ET 302 plane crash, near the town of Bishoftu
FILE PHOTO - Ethiopian Federal policemen stand at the scene of the Ethiopian Airlines Flight ET 302 plane crash, near the town of Bishoftu, southeast of Addis Ababa, Ethiopia March 11, 2019. REUTERS/Tiksa Negeri/File Photo

April 4, 2019

By Jason Neely

ADDIS ABABA (Reuters) – Ethiopia Airlines’ doomed 737 MAX jet hit excessive speed and was forced downwards by a wrongly-triggered automation system as pilots wrestled to regain control, a preliminary report into the crash that has shaken the aviation world showed on Thursday.

Three times the captain Yared Getachew cried “pull up”, before the Boeing plane plunged into a field six minutes after takeoff from Addis Ababa last month, killing all 157 passengers and crew, said the report by Ethiopian investigators.

The disaster – and parallels with another 737 MAX crash in Indonesia where 189 people died last October – has led to the grounding of Boeing’s flagship model.

It has also brought uncomfortable scrutiny over new software, pilot training and regulatory rigor.

While the Ethiopian Civil Aviation Authority’s Accident Prevention and Investigation Bureau had a remit to investigate rather than blame, it implicitly pointed the finger at Boeing by defending the pilots, recommending the U.S. company fix its control systems, and saying regulators must be certain before allowing the MAX back in the air.

“The crew performed all the procedures repeatedly provided by the manufacturer but was not able to control the aircraft,” Transport Minister Dagmawit Moges told a news conference.

“Since repetitive uncommanded aircraft nose down conditions are noticed … it is recommended that the aircraft control system shall be reviewed by the manufacturer.”

Boeing, the world’s biggest planemaker and one of the United States’ most important exporters with a $500 billion order book for the MAX, says a new software fix for its anti-stall system will enable pilots to always override if necessary.

According to the report by the Ethiopian investigators, an alarm indicating excess speed was heard on the cockpit voice reporter as the jet reached 500 knots (575 miles per hour) – well above operational limits.

FRAGMENTS IN A CRATER

The plane had faulty “angle of attack” sensor readings, its nose was pushed down automatically, and the crew lost control despite following recommended instructions, it said.

“Most of the wreckage was found buried in the ground,” the report said, indicating the strength of the impact on an arid field in an agricultural zone. No bodies were recovered, only charred fragments among the debris in a crater.

Boeing has seen billions wiped off its market value since the crash, but its shares actually rose 2.4 percent on Thursday. Morgan Stanley said the report of flight control problems, which Boeing was already trying to fix, meant a “worst case scenario” of a new cause was probably off the table.

Families of the victims, regulators and travelers around the world have been waiting to find out to what extent Boeing technology or the pilots’ actions played a role.

A final report is due within a year.

The preliminary report into the Lion Air disaster in Indonesia suggested pilots also lost control after grappling with so-called MCAS software, a new automated anti-stall feature that repeatedly lowered the nose based on faulty sensor data.

“It had to take a second disaster to wake up the major players to pay attention to something that could’ve been resolved after the first disaster,” said one woman, who lost her father in the Ethiopian crash, asking not to be named.

“Whatever the issues were, they better be 110 percent sure about their resolution, otherwise the 157 lives lost would have been for nothing if something like this happens again. This is a lesson to not take shortcuts in order to try and save bucks.”

“PROFITS OVER SAFETY”?

U.S. regulator the Federal Aviation Administration, under fire for its certification of the MAX, cautioned the inquiry was not over. “As we learn more about the accident and findings become available, we will take appropriate action,” it said.

Boeing may press to know how crew members responded to problems triggered by the faulty data. Questions on whether the pilots had leveled out the plane before disengaging MCAS and how many times MCAS activated were not answered at the news conference in Addis Ababa that lasted about 40 minutes.

The New York Times quoted Dagmawit as saying pilots turned MCAS off and on, which is not the step recommended in published Boeing procedures telling crew to leave it off once disabled.

With bereaved families angry and confused, relatives of one woman killed in the Ethiopian crash filed the first lawsuit on behalf of a U.S. victim in Chicago.

The complaint accused Boeing of putting “profits over safety” and also targeted Rosemount Aerospace, the manufacturer of the angle of attack sensor.

U.S. consumer activist Ralph Nader, whose niece died in Ethiopia, called for consumers to boycott the MAX.

Pilots around the world were watching closely too.

“If the preliminary report from the Ethiopian authorities is accurate, the pilots quickly identified the malfunction and applied the manufacturer’s checklist,” said Captain Jason Goldberg, spokesman for Allied Pilots Association, which represents American Airlines pilots.

“Following this checklist did not appear to allow the pilots to regain control of the aircraft.”

(Reporting by Jason Neely in Addis Ababa, Eric Johnson in Seattle, Katharine Houreld and Maggie Fick in Nairobi, Tim Hepher in Paris, Jamie Freed in Singapore, Tracy Rusinski in Chicago, David Shepardson in Washington; Writing by Andrew Cawthorne; Editing by Alexandra Hudson)

Source: OANN

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Bank of Canada to hold rates until at least early 2020: Reuters Poll

A cyclist rides past the Bank of Canada building in Ottawa
A cyclist rides past the Bank of Canada building in Ottawa July 17, 2012. The Bank of Canada left interest rates unchanged on Tuesday, but made clear it was still weighing an eventual move higher, even as other central banks ease monetary policy to cope with damaging economic slowdowns. REUTERS/Chris Wattie (CANADA - Tags: BUSINESS POLITICS)

April 18, 2019

By Mumal Rathore

BENGALURU (Reuters) – The Bank of Canada is expected to hold policy steady for the rest of this year, with calls for the next hike in early 2020 resting on a knife’s edge, a Reuters poll showed, the latest dulling of rate expectations for a major central bank.

Just last month, a majority of economists said the overnight rate would rise to 2.0 percent in the third quarter of this year, followed by another rise next year.

The findings from the April 12-16 poll of over 40 economists brings expectations for the BoC in line with those for the U.S. Federal Reserve and other major central banks, which are now forecast to stay on the sidelines this year.

The Canadian economy has taken a hit from the mandatory production cut of oil – its biggest export – a slowdown in the housing market and wilting business sentiment over worries surrounding the U.S.-China trade war.

“Although the Bank of Canada still sports a directional bias in its forward-looking language, referring to ‘future rate increases’ in the March announcement, this likely reflects the fact that policy rates are still negative in real terms,” noted Douglas Porter, chief economist at BMO Capital Markets.

“However, this doesn’t preclude a Fed-comparable desire to stand pat given the substantial risks posed by higher interest rates – given a record-high household debt-to-income ratio – along with global economic headwinds and trade uncertainties.”

All economists polled said the BoC will hold rates at 1.75 percent at its April 24 meeting and about 60 percent of them say they will stay there through to the end of this year.

The median forecast shows the central bank will hike in the first quarter of next year to 2.0 percent, but the sample was split. The rates are forecast to stay put after that through to end-2020.

Almost 90 percent of economists who answered an additional question said a rate cut was unlikely by end-2020 as they remain hopeful the economy will muddle through its current rough patch.

“Those that think the softness will continue will point to signs of slowing growth in the U.S. and Europe, declines in global trade volumes, an inversion of the yield curve, and declines in business and consumer confidence,” noted Jean-François Perrault, chief economist at Scotiabank.

“While these factors are acting to hold back growth to some extent, fundamentals remain generally solid and our models continue to suggest that the probability of a recession in Canada is very low.”

The recent rise in oil prices contributed to a Canadian inflation increase to 1.9 percent in March, just below the central bank’s 2 percent target. A separate Reuters poll showed oil prices are expected to rise over the coming year.

While that may help underpin the economy, a major oil and natural resources exporter, the growth outlook was cut in the latest poll.

Gross domestic product (GDP) growth was forecast to average 1.6 percent this year and 1.7 percent next, a downgrade from 1.8 percent predicted for both those years in the January poll.

The median probability of a recession in the next 12 months was 20 percent, and 27.5 percent in the next two years. That compares with a 25 percent probability of a U.S. recession in the next 12 months and 40 percent chance in the next two years.

(Reporting and polling by Mumal Rathore; Editing by Ross Finley and Chris Reese)

Source: OANN

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China auto sales fall 14 percent in February, mark eighth month of decline

Cars drive on a main road through Beijing's central business area
Cars drive on a main road through Beijing's central business area, China January 18, 2019. Picture taken January 18, 2019. REUTERS/Jason Lee

March 11, 2019

BEIJING (Reuters) – China’s automobile sales fell 13.8 percent in February from the same month a year earlier, the country’s biggest auto industry association said on Monday, marking the eighth consecutive month of decline in the world’s largest auto market.

The China Association of Automobile Manufacturers (CAAM) said sales fell to 1.48 million vehicles. That followed declines of 16 percent in January and 13 percent in December.

New energy vehicle sales, in contrast, rose 53.6 percent year-on-year in February, it said.

The figures come as China plans billions of dollars in tax cuts and infrastructure spending to support an economy growing at its slowest pace in almost 30 years due to softer domestic demand and a trade war with the United States.

The government is now trying to persuade consumers to spend and has pledged subsidies to boost rural sales of some vehicles as well as the sales of new energy vehicles.

The sales picture from some Chinese automakers has so far been mixed, with Great Wall Motor Co Ltd reporting 18 percent growth for February, whereas Geely Automobile Holdings Ltd reported a 24 percent decline.

Industry executives also said China’s car sales in January and February tend to be affected by the Lunar New Year holiday, around which consumers often hold off on car-buying decisions.

The holiday’s dates change annually but tend to occur in either month. This year, it took place in the first week of February.

(Reporting by Yilei Sun in BEIJING and Brenda Goh in SHANGHAI; Editing by Christopher Cushing)

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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FILE PHOTO: Ford logo is seen at the North American International Auto Show in Detroit, Michigan
FILE PHOTO: The Ford logo is seen at the North American International Auto Show in Detroit, Michigan, U.S., January 15, 2019. REUTERS/Brendan McDermid/File Photo

April 26, 2019

(Reuters) – Ford Motor Co said on Friday the U.S. Department of Justice had opened a criminal investigation into the automaker’s emissions certification process in the United States.

The potential concern does not involve the use of defeat devices, the company said in a regulatory filing. (https://bit.ly/2VqjHpl)

Ford had voluntarily disclosed the matter to the U.S. Environmental Protection Agency and the California Air Resources Board in February.

(Reporting by Ankit Ajmera in Bengaluru; Editing by James Emmanuel)

Source: OANN

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German energy company RWE says it won’t invest in new coal-fired power stations and is scrapping plans for a lignite-fired plant in western Germany.

RWE, which operates several of Europe’s most-polluting power plants, said in a statement Friday that it will now focus on generating electricity from renewable sources. CEO Rolf Martin Schmitz said that “new coal-fired power stations no longer have a place in our future-oriented strategy.”

The company said it canceled plans for a possible lignite-burning plant at Niederaussem, near Cologne. However, RWE said it is “convinced that existing coal-fired power stations will be needed to provide backup capacity” as Germany switches to renewable energy.

A German government-appointed expert panel recently agreed that coal burning should end by 2038. Details of how that will be achieved remain sketchy.

Source: Fox News World

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Hundreds of Cuban migrants are reported to be on the run Friday in Mexico after a crowd of more than 1,000 burst out of a troubled immigration detention center on its southern border.

Mexico’s National Immigration Institute said the mass escape Thursday in Tapachula – which the Associated Press called the largest in recent memory — involved around 1,300 Cuban migrants, although 700 of them have since returned voluntarily.

The migrants reportedly streamed out of the compound without any resistance, as the institute said its agents weren’t armed and “there was no confrontation.”

Federal police with riot shields later rushed in to control the situation, as a crowd of angry Cubans whose relatives were being held at the facility gathered outside. The Cubans claimed their relatives reported overcrowding and unsanitary conditions at the facility.

A Federal Police officer stands guard outside an immigration detention center in Tapachula, Chiapas state, Mexico, late Thursday, following a breakout.

A Federal Police officer stands guard outside an immigration detention center in Tapachula, Chiapas state, Mexico, late Thursday, following a breakout. (AP)

BORDER PATROL UNION CHIEF BLASTS CONGRESS OVER MIGRANT CARAVANS: ‘WHAT ARE YOU DOING ABOUT IT’?

“My wife and child have been in there for 27 days in bad conditions,” said Usmoni Velazquez Vallejo, as he waited outside for news. “There is overcrowding, insufficient food and there isn’t even medicine for them.”

Another Cuban detainee told the AFP: “We have many there… we are very tight, we sleep on the floor.”

It’s the third time since October that migrants at the facility staged an uprising, according to the news agency.

The center’s holding capacity is officially listed at less than 1,000 people, but the escape of 1,300 meant it was probably at least at double its capacity, since not everyone being held there escaped. Residents in the area said that sometimes the facility has held as many as 3,000 people, and a Mexican newspaper cited by Reuters said Haitians and Central Americans also are among the large group who still have not been tracked down.

Migrants wait for their transfer from an immigration detention center in Tapachula, Chiapas state, Mexico, on Thursday.

Migrants wait for their transfer from an immigration detention center in Tapachula, Chiapas state, Mexico, on Thursday. (AP)

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Earlier in the day, Mexico’s top human rights official toured the facility.

Elsewhere in the country, a new caravan estimated to contain up to 10,000 migrants is making its way to the U.S.-Mexico border.

The Associated Press contributed to this report.

Source: Fox News World

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