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Euro still in favor, but downside risks prevail: Reuters poll

FILE PHOTO: An employee counts Euro bills at a money exchange office in central Cairo
FILE PHOTO: An employee counts Euro bills at a money exchange office in central Cairo, Egypt, March 20, 2019. REUTERS/Mohamed Abd El Ghany

April 5, 2019

By Hari Kishan and Shrutee Sarkar

BENGALURU (Reuters) – The euro will rebound from its worst start to a year since 2015 to gain over the coming 12 months, according to a Reuters poll of analysts, although they warned that risks to that view were skewed to the downside.

Having lost nearly 4.5 percent against the dollar in 2018, the euro has not fared any better so far this year, falling more than 2 percent in January-March — its worst first-quarter performance in four years.

That was mostly driven by weak growth and inflation prospects for the region, which pushed the European Central Bank to rule out any rate hikes this year and announce new long-term cheap loans, known as TLTROs.

But the poll of more than 75 currency analysts taken this week showed the euro will reverse that trend and gain about 5 percent in a year, to $1.18 from around $1.12 on Thursday.

The single currency began to rise at the start of April on news that talks on trade between the United States and China appeared to be making headway.

“While Europe remains impacted by external trade concerns, assuming an easing in China-U.S. trade tensions into H2 and a resulting turn in external data, we look for a stronger medium-run euro profile,” said Jeremy Stretch, head of G10 FX strategy at CIBC Capital Markets.

“The introduction of fresh TLTROs helps to alleviate a potential cliff in funding costs for euro zone banks, while increased fiscal stimulus will also be supportive for the euro.”

Economic data out of the euro zone in recent weeks has given few reasons to be optimistic, but the U.S. economy is also experiencing a slowdown, which has forced the Federal Reserve to make a U-turn on policy.

The Fed’s “dot plot” projections now suggest no hikes in 2019 compared with two predicted in December, with economists in a separate Reuters poll ruling out any tightening next year too.

“We don’t expect the ECB to be dynamic when it comes to interest rate hikes. But we see an end to interest rate hikes in the U.S., so the momentum will turn sometime in the future … in favor of the euro,” said Dekabank economist Christian Melzer.

This survey marks the 20th consecutive poll in which analysts have predicted the euro will gain over the 12-month forecast horizon, but during that period it has lost close to 5 percent against the dollar.

The latest consensus was the lowest since a poll in September 2017 and the range of forecasts showed lower lows for the single currency for the second survey in a row.

Over 65 percent of analysts who answered an extra question said the risk to their euro forecasts for the coming year was skewed more to the downside.

“There may be a little bit more downside to go on the euro to reflect the weakness of the euro zone economy, the impact of political uncertainty also the more dovish bias of the ECB,” said Jane Foley, head of FX strategy at Rabobank.

However, analysts were less clear about the dollar.

Respondents were split right down the middle when asked if the risk to their dollar forecasts was skewed more to the upside or downside.

“There’s nothing like as much gloom, yet, about the U.S. as there is about Europe, so no wonder the euro is anchored firmly to the bottom of its trading range,” said Kit Juckes, global head of FX strategy at Societe Generale.

“If you’re a U.S. economic pessimist who wants to be a dollar bear, my best recommendation is that you go back into hibernation for a little longer!”

Although most major economies are expected to experience a protracted economic slowdown, the United States is likely to be relatively stable, which should keep the dollar in play.

“We are in the battle of uglies now when it comes to fundamentals and the dollar is probably just the least ugly.” said Rabobank’s Foley.

(Polling by Indradip Ghosh and Mumal Rathore; Editing by Catherine Evans)

Source: OANN

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Climate activists block entrance to London Stock Exchange

Environmental activists are blocking the main entrance to the London Stock Exchange after gluing themselves to the doorway while wearing LED displays reading "climate emergency."

The Extinction Rebellion demonstrators also climbed on top of a Docklands Light Railway train at Canary Wharf station in east London as they focus on the city's financial centers during the final day of protests in the capital. The group says the financial services industry is being targeted for "funding climate and ecological destruction."

Activists held signs saying "business as usual = death" and "don't jail the canaries."

Some 1,000 people have been arrested during the protests, which started April 15. More than 10,000 police officers have been deployed in response to demonstrations that disrupted transportation by targeting bridges, intersections and commuter trains.

Source: Fox News World

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Kid Trafficking Ring With 3 Year Old Exposed In Atlanta

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CNBC: Gillibrand Faces Ethics Questions

Sen. Kirsten Gillibrand, D-N.Y., could face questions over her husband’s stake in a little-known medical device company that stands to benefit from legislation she voted for, CNBC reports.

Gillibrand’s husband, Jonathan, invested in WindCrest LLC in 2005. In 2012 the company filed a patent application for a device that helps guide wires that are used in difficult surgeries. Gillibrand has disclosed this stake, which she has said is worth less than $50,000, but this invention could cause the senator to “profit from an industry she has played a role in regulating as a senator, and which she could influence as president,” according to CNBC.

Since announcing her run for president, Gillibrand has campaigned on financial transparency and attacked President Donald Trump for not being more forthcoming about his business interests and financial dealings.

“To Jonathan’s understanding, the investment is of little to no value,” an aide to the Gillibrand campaign told CNBC. “Senator Gillibrand was proud to release her tax returns first, and believes that radical transparency is important as an elected official.”

“The general issue is that, if somebody has a financial interest in a medical device company, it doesn’t matter where they are in the [approval] process, if they are working on health-care legislation, they’ve got a problem,” said former chief White House ethics lawyer Richard Painter. 

“The bottom line is, I think she’s got to get rid of it,” he added. “If she’s running for president, she’s got to get rid of it fast.”

Source: NewsMax Politics

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Jury finds Detroit police officer guilty in woman's beating

A Detroit police officer has been convicted of misdemeanor assault and battery in the beating of a naked, unarmed and mentally ill woman inside an emergency room triage unit.

Jurors in Wayne County delivered the guilty verdict Tuesday against 47-year-old Dewayne Jones. Jones also was charged late last year with felony misconduct, but that was dismissed .

Video of the incident posted in August on WJBK-TV's website shows the 29-year-old woman being punched about a dozen times at Detroit Receiving Hospital as another officer and hospital security restrained her. Witnesses testified that the woman spat at Jones, shouted profanities at hospital staff and bit an officer.

Jones was suspended, but later reinstated at a lower rank. He could receive up to 93 days in jail at his May 1 sentencing.

Source: Fox News National

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Lamb running on New York expressway rescued by highway patrol officer

What a lucky lamb!

New York City Police Department Highway Patrol officers saved a lamb on the loose from rush hour traffic in Brooklyn Wednesday, according to reports.

Drivers started uploading photos of the little lamb strolling along the Gowanus Expressway around 9 a.m. to Twitter, and eventually highway patrol officers were able to rescue the animal and take her to an Animal Care Center on Staten Island, CBS reported. The care center named the lamb Petunia.

DOG ABANDONED AT GAS STATION IS NOW AN OFFICIAL EMPLOYEE

Investigators believe Petunia may have escaped from a nearby slaughterhouse in Sunset Park, according to a report from AM New York.

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She has now been transferred to Skylands Animal Sanctuary & Rescue in New Jersey, which takes care of rescued farm animals, according to a tweet from the Animal Care Center.

Source: Fox News National

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MLB disciplines three following Reds-Pirates brawl

MLB: Cincinnati Reds at Pittsburgh Pirates
Apr 7, 2019; Pittsburgh, PA, USA; Pittsburgh Pirates starting pitcher Chris Archer (24) delivers a pitch against the Cincinnati Reds during the first inning at PNC Park. Mandatory Credit: Charles LeClaire-USA TODAY Sports

April 9, 2019

Pittsburgh right-hander Chris Archer, Cincinnati outfielder Yasiel Puig and Reds manager David Bell received suspensions Tuesday for their roles in Sunday’s bench-clearing brawl in Pittsburgh.

Joe Torre, chief baseball officer for Major League Baseball, announced the disciplinary measures.

Archer received a five-game suspension for intentionally throwing a fastball behind the back of Derek Dietrich during the fourth inning at PNC Park in Pittsburgh. In his first at-bat, Dietrich had dropped his bat and stood to admire his towering 436-foot home run.

Puig drew a two-game suspension for “his aggressive actions during the incident,” the league said in a statement. Puig grabbed Pirates bench coach Tom Prince in the ensuing melee and attempted to put him in a headlock before being restrained by teammates.

Bell, who raced onto the field to argue that Archer should have been ejected, received a one-game suspension for his actions.

All three were also hit with undisclosed fines.

Archer’s suspension is subject to an appeal. Puig will begin serving his suspension Tuesday night when the Reds host the Miami Marlins. Bell will also sit out Tuesday’s game.

–Field Level Media

Source: OANN

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Representatives of Russian Transneft, Ukranian Ukrtransnafta, Polish Pern and Belarusian Belneftekhim gather to hold talks on fixing tainted oil supplies to Europe, in Minsk
Representatives of Russian Transneft, Ukranian Ukrtransnafta, Polish Pern and Belarusian Belneftekhim gather to hold talks on fixing tainted oil supplies to Europe, in Minsk, Belarus April 26, 2019. REUTERS/Vasily Fedosenko

April 26, 2019

By Katya Golubkova and Andrei Makhovsky

MOSCOW/MINSK (Reuters) – Russia is confident it can soon resolve a problem of polluted Russian oil contaminating a major pipeline serving Europe and affecting supplies as far west as Germany, a senior official said on Friday at talks with importers about the issue.

Russian Deputy Energy Minister Pavel Sorokin did not give a precise timeframe but Moscow has previously said it would pump clean oil to the border with Belarus from April 29, seeking to end a crisis hitting the world’s second-largest crude exporter.

Sorokin was speaking at talks with officials from Belarus, Poland and Ukraine in Minsk on the issue. Belarus said the issue had cost it $100 million, while analysts say alternative supply routes for refiners cannot fully fill the gap.

Poland, Germany, Ukraine and Slovakia have suspended imports of Russian oil via the Druzhba pipeline. Halting those supplies has knock-on effects further along the network.

The problem arose last week when an unidentified Russian producer contaminated oil with high levels of organic chloride used to boost oil output but which must be separated before shipment as it can destroy refining equipment.

Russia’s Energy Ministry said pipeline monopoly Transneft and other Russian companies had a plan to mitigate the effects of the contaminated oil. It did not give details.

Russian officials have said contaminated oil has already been pumped into storage in Russia and Friday’s talks would focus on how to partially withdraw the tainted crude from the Druzhba pipeline running via other countries.

The suspension cuts off a major supply route for Polish refineries owned by Poland’s PKN Orlen and Grupa Lotos, as well as plants in Germany owned by Total, Shell, Eni and Rosneft.

Some refiners have outlined plans for alternative supplies, but analysts say other routes cannot meet the shortfall.

OIL PRICES

Ukraine’s Ukrtransnafta suspended the transit of oil through the pipeline on Thursday, closing supplies via Druzhba’s southern route to Slovakia, the Czech Republic and Hungary.

The pipeline issue, which has supported global oil prices, lifted Russian Urals crude differentials to an all-time high on Thursday.

With pipeline supplies to Europe shut, Russia faces a challenge of how to divert about 1 million barrels per day (bpd) that was meant to be shipped through the network to other destinations at the time when export capacity is at its limits.

State-run Russian Railways held talks with energy firms on using up to 5,000 rail tankers to transport crude, RIA news agency reported on Friday.

Concerns about the quality of Urals crude also caused delays in loadings at the Baltic port of Ust-Luga, when buyers refused to lift cargoes, resulting in a brief shutdown of the port on Wednesday and Thursday. An Ust-Luga official and traders said on Friday loadings had resumed.

Russian loading plans indicate it aims to boost Urals exports in May before the expiry of a deal on output cuts agreed with the Organization of the Petroleum Exporting Countries and its allies, Reuters calculations and Energy Ministry data show.

The provisional loading plan for Russia’s Baltic Sea ports and Novorossiisk in May show exports rising to 10.7 million tonnes, the highest level in half a decade.

Minsk estimated its loss from lower oil product exports due to contaminated Russian oil at around $100 million, Russia’s Interfax news agency reported on Thursday, citing Belarusian state oil company Belneftekhim.

Russian Deputy Prime Minister Dmitry Kozak, in charge of government energy policy, said this week that those found responsible for contaminating the oil could be fined. He did not provide names.

(Reporting by Agnieszka Barteczko in WARSAW, Sandor Peto in BUDAPEST, Jason Hovet in PRAGUE, Matthias Williams and Natalia Zinets in KIEV, Katya Golubkova, Olesya Astakhova, Gleb Gorodyankin, Olga Yagova and Maxim Rodionov in MOSCOW, Andrei Makhovsky in MINSK; writing by Katya Golubkova; editing by Michael Perry and Edmund Blair)

Source: OANN

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FILE PHOTO - A worker sits on a ship carrying containers at Mundra Port in the western Indian state of Gujarat
FILE PHOTO: A worker sits on a ship carrying containers at Mundra Port in the western Indian state of Gujarat April 1, 2014. REUTERS/Amit Dave/File Photo

April 26, 2019

(Reuters) – India has once again delayed the implementation of higher tariffs on some goods imported from the United States to May 15, a government official said on Friday.

The new tariff structure was to come into force from May 2, the spokeswoman said without citing reasons for the delay.

Angered by Washington’s refusal to exempt it from new steel and aluminum tariffs, New Delhi decided in June last year to raise the import tax from Aug. 4 on some U.S. products including almonds, walnuts and apples.

But since then, New Delhi has repeatedly delayed the implementation of the new tariff.

Trade friction between India and the U.S. has escalated after U.S. President Donald Trump announced plans earlier this year to end preferential trade treatment for India that allows duty-free entry for up to $5.6 billion worth of its exports to the United States.

In a further blow, U.S. on Monday demanded buyers of Iranian oil stop purchases by May or face sanctions, ending six months of waivers which allowed Iran’s eight biggest buyers including India to continue importing limited volumes.

(Reporting by Manoj Kumar in New Delhi and Kanishka Singh in Bengaluru; Editing by Anil D’Silva and Raissa Kasolowsky)

Source: OANN

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One of Joe Biden’s newly-hired senior advisers has seemingly had a very recent change of heart.

Symone Sanders, a prominent Democratic strategist and Sen. Bernie Sanders, I-Vt., staffer in 2016, was announced as one of the big-name members of Team Biden on Thursday.

But Sanders, who has also served as a CNN contributor, is seen in resurfaced footage from November 2016 expressing her opposition to a white person leading her party after Donald Trump’s election.

“In my opinion, we don’t need white people leading the Democratic party right now,” Sanders told host Brianna Keilar during a discussion on Howard Dean potentially becoming DNC chairman.

BIDEN HIRES FORMER BERNIE SANDERS’ SPOKESPERSON AS SENIOR ADVISER

“The Democratic party is diverse, and it should be reflected as so in leadership and throughout the staff, at the highest levels. From the vice chairs to the secretaries all the way down to the people working in the offices at the DNC,” she said.

Sanders wrapped up her remarks by saying: “I want to hear more from everybody. I want to hear from the millennials and the brown folks.”

Footage of the interview was resurfaced by RealClearPolitics.

After news of her hiring broke on Thursday, Sanders backed her new boss on Twitter.

TRUMP ASSESSES 2020 DEMS; TAKES SWIPES AT BIDEN, SANDERS; DISMISSES HARRIS, O’ROURKE; SAYS HE’S ROOTING FOR BUTTIGIEG

“@JoeBiden & @DrBiden are a class act. Over the course of this campaign, Vice President Biden is going to make his case to the American ppl. He won’t always be perfect, but I believe he will get it right,” she wrote.

The hiring of Sanders has been viewed as another indication of the expected tough fight that Biden and Sanders are in for as the two frontrunners battle a deep Democratic field.

While Sanders himself didn’t torch Biden as he jumped into the race, it’s clear that many of his progressive supporters view the former vice president as a threat.

Biden’s entry into the race – at least in the early going – sets up a battle between himself and Sanders, who thanks to his fierce fight with eventual nominee Hillary Clinton for the 2016 Democratic nomination, enjoys name ID on the level of the former vice president.

BIDEN VOWS THAT ‘AMERICA IS COMING BACK,’ SPARKING ‘MAGA’ COMPARISONS

Justice Democrats — who also called Biden “out-of-touch” – is an increasingly influential group among the left of the party. They’ve championed progressive Rep. Alexandria Ocasio-Cortez of New York as well as Sanders. The group was founded by members of Sanders 2016 presidential campaign.

Biden has pushed back against the perception that he’s a moderate in a party that’s increasingly moving to the left. Earlier this month he described himself as an “Obama-Biden Democrat.”

And Biden said he’d stack his record against “anybody who has run or who is running now or who will run.”

Former Democratic National Committee chair Donna Brazile – a Fox News contributor – highlighted that “Joe Biden can occupy his own lane in large part because he’s earned it. He’s earned the right to call himself whatever.”

CLICK HERE TO GET THE FOX NEWS APP

But she emphasized that “elections are not about the past, they’re about the future…I do believe he has the right ingredients. The question is can he find enough people to help him stir the pot.”

Fox News Andrew O’Reilly contributed to this report.

Source: Fox News Politics

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Baltimore Mayor Catherine Pugh, who is facing increased calls for her immediate resignation, remains in poor health and is not “lucid” enough to decide whether to step down, her attorney told reporters late Thursday.

Steve Silverman, speaking outside one of Pugh’s residences which was raided by the FBI and IRS earlier in the day, said the embattled city leader could make a decision as early as next week.

“She is leaning toward making the best decision in the best interest in the citizens of Baltimore City,” he said, adding that Pugh has “several options” to consider.

“She just needs to be physically and mentally sound and lucid enough to make appropriate decisions.”

BALTIMORE MAYOR CATHERINE PUGH, ON LEAVE AMID BOOK PROBE, HAS HOMES AND CITY HALL OFFICE RAIDED BY FEDS

Silverman said Pugh met with a doctor at home Thursday and plans to do so again Friday, the Baltimore Sun reported.

In the latest image-tarnishing scandal for struggling Baltimore, the first-term Democratic mayor faces accusations that she used children’s book deals to cover up kickbacks for favorable treatment as a state lawmaker and city leader that earned her roughly $800,000 over several years.

BALTIMORE’S ACTING MAYOR SAYS HE ‘WOULD HATE TO SEE’ EMBATTLED MAYOR RETURN AFTER BOOK SCANDALS

As a state senator, 69-year-old Pugh sold $500,000 worth of her self-published “Healthy Holly” illustrated paperbacks to the University of Maryland Medical System, a major state employer whose board she sat on for nearly 20 years.

Baltimore police officers stand outside the house of Baltimore Mayor Catherine Pugh in Baltimore, MD., Thursday, April 25, 2019. Agents with the FBI and IRS are gathering evidence inside the two homes of Pugh and also in City Hall. (AP Photo/Jose Luis Magana)

Baltimore police officers stand outside the house of Baltimore Mayor Catherine Pugh in Baltimore, MD., Thursday, April 25, 2019. Agents with the FBI and IRS are gathering evidence inside the two homes of Pugh and also in City Hall. (AP Photo/Jose Luis Magana)

UMMS reportedly paid Pugh for 100,000 copies of her books between 2011 and 2018 with the stated intention of distributing the books to schools and day care centers. But some 50,000 copies remain unaccounted for and officials are probing if they were even printed.

Pugh also made $300,000 in bulk sales to other customers including health carriers that did business with the city of Baltimore.

BALTIMORE CITY COUNCIL CALLS ON EMBATTLED MAYOR CATHERINE PUGH TO RESIGN IMMEDIATELY

The politically isolated Pugh slipped out of sight on April 1 after a hastily organized press conference where she called her no-contract book deals a “regrettable mistake.” That same day, Maryland’s governor called on the state prosecutor to investigate allegations of “self-dealing.”

Pugh took an indefinite leave of absence, citing her health deteriorating intensely after a bout with pneumonia.

Federal agents arrive at the Maryland Center for Adult Training in Baltimore. MD, Thursday, April 25, 2019. Agents with the FBI and IRS are gathering evidence inside the two homes of Baltimore Mayor Catherine Pugh and in City Hall, as well as the office of her lawyer and the home of a top aide.

Federal agents arrive at the Maryland Center for Adult Training in Baltimore. MD, Thursday, April 25, 2019. Agents with the FBI and IRS are gathering evidence inside the two homes of Baltimore Mayor Catherine Pugh and in City Hall, as well as the office of her lawyer and the home of a top aide. (Loyd Fox/Baltimore Sun via AP)

On Thursday morning, agents with the FBI and IRS searched her two Baltimore homes, her City Hall offices, and a nonprofit organization she once led. The home of at least one of Pugh’s aides was also scoured.

Silverman said federal agents also served a subpoena at his law firm, retrieving Pugh’s original financial records. They did not seek any attorney-client privileged communications, he said.

Pugh’s attorney said she was “emotionally extremely distraught” following the searches by FBI and IRS agents.

“There was nothing incriminating that came out of her home,” Silverman said.

UMMS spokesman Michael Schwartzberg told reporters that the medical system received a grand jury witness subpoena seeking documents and information related to Pugh.

Other probes against Pugh include a review by the city ethics board and the Maryland Insurance Administration.

BALTIMORE MAYOR’S $500G DEAL FOR ‘HEALTHY HOLLY’ CHILDREN’S BOOKS DRAWS SCRUTINY

In recent weeks, the calls for Pugh’s resignation have intensified with the strongest voice coming from Republican Gov. Larry Hogan, who did not mince words after Thursday’s early morning raids.

“Now more than ever, Baltimore City needs strong and responsible leadership. Mayor Pugh has lost the public trust,” he said. “She is clearly not fit to lead. For the good of the city, Mayor Pugh must resign.”

Federal Bureau of Investigation, and Internal Revenue Service agents search the home of Baltimore Mayor Catherine Pugh in Baltimore, MD., Thursday, April 25, 2019. Agents with the FBI and IRS are gathering evidence inside the two homes of Baltimore Mayor Catherine Pugh and in City Hall.

Federal Bureau of Investigation, and Internal Revenue Service agents search the home of Baltimore Mayor Catherine Pugh in Baltimore, MD., Thursday, April 25, 2019. Agents with the FBI and IRS are gathering evidence inside the two homes of Baltimore Mayor Catherine Pugh and in City Hall. (Jerry Jackson/Baltimore Sun via AP)

Many of her fellow Democrats, including those on Baltimore’s demoralized City Council and state lawmakers, are also insisting that Pugh put the citizens’ interests above any attempt to preserve her political career.

City Council member Brandon Scott called the Thursday raids “an embarrassment to the city.”

However, only a conviction can trigger a mayor’s removal from office, according to the city solicitor. Baltimore’s mayor-friendly City Charter currently provides no options for ousting its executive.

Six of Pugh’s staffers joined her on paid leave earlier this month; three of them were fired this week by the acting mayor.

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Pugh came to office in late 2016 after edging out ex-Mayor Sheila Dixon, who had spent much of her tenure fighting corruption charges before being forced to depart office in 2010 as part of a plea deal connected to the misappropriation of about $500 in gift cards meant for needy families.

She would certainly face a bruising 2020 Democratic primary if she were to return and run for reelection. Veteran City Council leader Bernard “Jack” Young, who is serving as acting mayor, said as she went on leave that he would merely be a placeholder. But this week, before the raids, he said “it could be devastating for her” if she tried to return.

The Associated Press contributed to this report.

Source: Fox News National

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Syria’s ambassador to the United Nations has blasted the United State and the European Union for imposing sanctions on his country, describing them as “economic terrorism.”

Bashar Ja’afari made his comments Friday in the Kazakh capital of Astana where Russia, Turkey and Iran held a new round of talks with the Syrian government and the opposition on steps to bring peace to the country.

His comments came as government-held parts of Syria are witnessing widespread fuel shortages that are largely the result of Western sanctions on Syria and its key ally Iran.

Ja’afari says: “This is economic terrorism that is escalating through unilateral economic measures.”

A final statement issued at the end of Astana’s 12th round rejected President Donald Trump’s formal recognition of Israel’s sovereignty over Syria’s occupied Golan Heights.

Source: Fox News World

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