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Job boom to outweigh soft patch as Bank of Canada mulls rate moves

FILE PHOTO: Bank of Canada Governor Stephen Poloz speaks during a news conference in Ottawa
FILE PHOTO: Bank of Canada Governor Stephen Poloz speaks during a news conference in Ottawa, Ontario, Canada, January 9, 2019. REUTERS/Chris Wattie/File Photo

March 14, 2019

By Fergal Smith and Julie Gordon

TORONTO/OTTAWA (Reuters) – The Bank of Canada is unlikely to cut interest rates to support a flagging economy as long as job growth continues at a robust pace, an analysis of the central bank’s response to past divergences in economic data suggests.

The economy could also get a boost from a revival in consumer spending, with next week’s federal budget expected to offer incentives that may ease the burden of debt-laden consumers.

The Canadian economy has become sluggish, with trade uncertainty weighing on business investment and a housing downturn hitting consumer spending, prompting speculation the Bank of Canada could cut rates this year.

But the pace of job growth has historically been a better signal for easing than variations in economic growth, Refinitiv data analyzed by Reuters shows. On the last two occasions that job growth and the strength of the economy diverged, in 2006 and 2012, the Bank of Canada chose not to cut rates.

(GRAPHIC: Canada GDP, jobs and Bank of Canada – https://tmsnrt.rs/2UH2ynG)

If gross domestic product is expanding at a slow pace “but jobs are blasting ahead, then yes, the bank is unlikely to cut rates,” said Royce Mendes, a senior economist with CIBC Capital Markets, cautioning that job data can be volatile.

Dismal economic growth in the fourth quarter prompted the Bank of Canada – which has hiked rates five times since July 2017 – to warn about “increased uncertainty,” even as job gains topped 55,000 in four of the last six months.

MORE JOBS, RISING SALARIES

The more dovish tone has led the market to price in about a 30 percent chance of a rate cut this year, whereas before it had been pricing in a potential hike. Canada’s 10-year bond yield on Tuesday hit its lowest level since June 2017, dropping below the 1.75 percent level of the central bank’s benchmark interest rate.

But experts say the strong employment numbers suggest Canada is facing a temporary soft patch, making rate cuts a risky response that would leave the Bank of Canada little room to maneuver in the case of a real economic shock.

“The jobs data throws into question whether it is really that serious of a soft patch,” said Greg Anderson, global head of foreign exchange strategy at BMO Capital Markets in New York.

“This might be a three-month soft patch,” he added. “If you spend all your ammunition on a slow patch then there’s nothing else.”

In addition to the economy churning out jobs, there are signs wages are finally rising, something the central bank has been watching closely.

And Canadians may find their wallets padded further, with the potential for Prime Minister Justin Trudeau’s government to introduce measures next week on child care, pharmaceutical care and skills training in the ruling Liberals’ final budget ahead of an October election.

“The bank is rightly cautious because even with the job gains that we’ve had, disposable income growth is really not that supportive,” said Mark Chandler, head of Canadian fixed income and currency strategy at RBC Capital Markets.

“It may change if we get something in the budget – tax rates down, transfers up. Then, disposable income might look a little better.”

(Reporting by Fergal Smith in Toronto and Julie Gordon in Ottawa; Editing by Paul Simao)

Source: OANN

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House Judiciary panel chair still wants Mueller report in hand by April 2

House Judiciary Committee Chairman Jerrold Nadler says an April 2 deadline still stands after Attorney General William Barr said he would deliver a redacted version of special counsel Robert Mueller's Russia report by mid-April.

House Democrats have suggested they may subpoena the report if it is not delivered by next week. Barr said in a letter to Nadler and other lawmakers Friday that he would send the report to Congress "by mid-April, if not sooner."

Nadler also says Democrats want to see the full report, not a redacted version.

MUELLER REPORT SAID TO BE MORE THAN 300 PAGES LONG

Barr said in his letter that he would be available to talk to the House panel on May 2 and the Senate a day earlier. Nadler says he will take that date "under advisement," but would like Barr to come sooner.

Source: Fox News Politics

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North Carolina considers dropping ‘F’ grade to 39 percent for state public schools: report

The bar for failing test scores in North Carolina’s state public schools may be significantly lowered under the proposals of new legislation.

House Bill 145, introduced by the North Carolina General Assembly on Thursday, proposes to base grades on a 15, rather than 10-point scale. In other words, an "F" grade would constitute anything below a 40 percent score – much lower than the 60 percent mark that is the norm in North Carolina and most other states, WPLG reported.

FLORIDA TEACHER CLAIMS SHE LOST JOB AFTER REFUSING TO GIVE HALF-CREDIT TO STUDENTS WHO DIDN'T TURN IN WORK

Under the new scale system, an "A" would be 100 to 85 percent, a "B" would be 84 to 70 percent, a "C" would be 69 to 55 percent, and a "D" would be 54 percent to 40 percent, according to the bill.

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The scale system would not affect students who are already performing well. But students who are underperforming in school will be allowed to continue. If passed, the law will go into effect beginning with the 2019-2020 school year, according to the bill.

Source: Fox News National

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Houston high school’s new dress code takes aim at parents

A Houston high school had adopted a new dress code that targets parents rather than students.

James Madison High School will turn away parents if they appear wearing pajamas, hair rollers or leggings. Bonnets also are banned.

The Houston Chronicle reports that Houston school district policy allows schools to establish standards for student attire and grooming, but no policy exists concerning parents.

Tomiko Miller, the mother of a Madison High student, says the code is discriminatory. Miller says it's no one's business if she decides to wear a bonnet to protect her hair when it rains.

Madison High's dress code was established shortly after KPRC-TV reported that a parent attempting to enroll her child was asked to leave because of her attire, which included a headscarf and a T-shirt dress.

___

Information from: Houston Chronicle, http://www.houstonchronicle.com

Source: Fox News National

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China has agreed to buy up to $1.2 trillion in U.S. goods: CNBC

FILE PHOTO: FILE PHOTO: Pictures of the Year: U.S. Politics
FILE PHOTO: U.S. President Donald Trump and China's President Xi Jinping shake hands after making joint statements at the Great Hall of the People in Beijing, China, November 9, 2017. REUTERS/Damir Sagolj/File Photo

February 22, 2019

WASHINGTON (Reuters) – China has agreed to buy up to $1.2 trillion in goods from the United States as part of the current negotiations to end the trade war between the countries, CNBC reported on Friday, citing sources familiar with the situation.

Trump and Chinese President Xi Jinping could meet in late March in Florida, CNBC also reported.

CNBC said though that the two sides remain far apart on a key issue for the United States: the forced transfer of intellectual property. Negotiators have been meeting in Washington this week, with President Donald Trump scheduled to talk with Chinese Vice Premier Liu He on Friday afternoon, in the hopes of coming closer to a trade deal before March 1, when U.S. tariffs on a variety of goods are set to rise to 25 percent from 10 percent.

Two members of the Chinese delegation, who did not give their names, told Reuters they did not know if talks would be extended beyond Friday. They are scheduled to leave for Beijing on Saturday, according to a member of staff at their hotel.

Reuters reported exclusively on Wednesday that the two sides are starting to sketch out an agreement on structural issues, drafting language for six memorandums of understanding on proposed Chinese reforms.

(Reporting by Lisa Lambert and Timothy Ahmann in Washington; Editing by James Dalgleish and Chizu Nomiyama)

Source: OANN

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Warren talks reparations, child care, early education during New Hampshire campaign stop

Democratic presidential candidate Sen. Elizabeth Warren highlighted her new universal child care plan and explained her support for reparations for black Americans affected by slavery as she campaigned Friday night in the state that holds the first primary in the race for the White House.

Taking questions from reporters after headlining the New Hampshire Democratic Party’s McIntyre-Shaheen 100 Club fundraising gala, Warren pointed to the country’s “ugly history of racism” as she explained her support for the proposal.

HARRIS, WARREN, EMBRACE REPARATIONS

“We need to confront it head-on and we need to talk about the right away to address it and make change,” Warren added.

The idea of reparations for black Americans affected by slavery is also backed by at least two other Democratic presidential candidates – Sen. Kamala Harris of California and former San Antonio Mayor Julian Castro, who served as housing secretary under President Barack Obama.

The push by some Democratic White House hopefuls points to the further importance of race and identity issues within the party. While supporters say reparations are needed to address slavery and other racist aspects of American history, some critics say such a move could cost several trillion dollars.

Asked whether she would include Native Americans in her support for reparations, Warren answered “I think it’s a part of the conversation. It’s an important part of the conversation.”

The senator has long faced criticism over her claims of Native American heritage, and recently apologized to the Cherokee Nation for last autumn’s release of DNA results in a bid to prove she had Native American ancestry dating back at least six generations.

WARREN HECKLED ON CAMPAIGN TRAIL

Child care, early education

Warren used her much of her address to more than 900 Democratic officials, federal, state and local lawmakers, rainmakers, and party activists in New Hampshire to showcase her new universal child care and early education proposal.

“We’re the richest country in the history of the planet. Access to high-quality care and education during the first five years of a child’s life shouldn’t be a privilege reserved for the rich,” she said to a standing ovation, one of around 10 that she received during her address.

Warren emphasized that “high-quality child care should be a right for every child in America.”

The senator touted that her plan “would provide high-quality care and education for free for millions of families and at low cost for everyone else.”

Warren claimed that she could pay for her plan “without raising taxes one thin dime for working families.”

She said revenues from the ultra-millioanires tax that she recently proposed would “cover the cost of this universal child care and early education plan.”

ELIZABETH WARREN CALLS FOR 'WEALTH TAX' ON RICHEST AMERICANS

“Asking the 75,000 wealthiest families in this country to pay a little more would cover the cost of providing affordable and high-quality child care and early education options to every child in our country,” she added.

Republicans respond

The Republican National Committee targeted Warren's proposal.

“Whether it’s government-run health care, taxpayer-funded jobs for all, or universal daycare, nothing is free and ultimately these proposals do nothing but raise taxes and expand big government. The financial burden always falls on the taxpayer,” RNC spokeswoman Mandi Merritt said.

"Ultimately these proposals do nothing but raise taxes and expand big government."

— Mandi Merritt, spokeswoman, Republican National Committee

But that kind of criticism doesn't fly with Manchester, N.H., Bergen Ambrose, who said as she waited in line after the speech to take a selfie with the senator that “I’m sold on Elizabeth Warren.”

Ambrose, who recently moved to the state from Massachusetts, said the controversy over Warren’s claims of Native American heritage didn’t trouble her.

“That is nothing in comparison to the scandals that we’ve seen on the Republican side” she explained. “I feel like she is the voice of the people.”

But Granite State native and Derry, N.H., resident Alyssa Wadlin is undecided at this early point in the campaign.

“I’m definitely excited about Elizabeth Warren. I’m excited about Kamala Harris, too. Those are my two front-runners,” she explained. “Elizabeth answered a lot of things that I wanted to hear from her tonight.”

Wadlin said beating President Trump in the general election was the most important factor in her decision.

“I wanted to see tonight that we have a candidate that can speak to all of America. It’s easy to be a Democrat from Massachusetts. I wanted to see that a Democrat from Massachusetts can speak to the rest of the country,” she said.

Friday night’s speech kicked off a two-day swing by Warren through the Granite State. It’s her fourth visit to New Hampshire since launching her campaign Dec. 31. Many political observers consider New Hampshire a "must win" state for a presidential candidate from neighboring Massachusetts. Bay State White House contenders have a long history of winning the first-in-the-nation primary. Think most recently of Democratic Sen. John Kerry in 2004 and former Republican Gov. Mitt Romney in 2012.

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But the state is also a "must win" for Sen. Bernie Sanders, who hails from neighboring Vermont. On Tuesday, the independent senator and fellow populist firebrand launched his second straight bid for the Democratic presidential nomination.

The night before Warren returned to New Hampshire, Sanders held a conference call with many of his top Granite State supporters from his 2016 campaign.

A top Sanders supporter and adviser who was on the call told Fox News that the senator told them that “New Hampshire’s extremely important and he made that point very clearly, how important it is for all of us to work as hard if not harder than we did last time and win again.”

The supporter, who asked to remain anonymous to speak more broadly, said that most of the leading Sanders supporters in New Hampshire are “all with him again.”

Source: Fox News Politics

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White House aide believes Trump had no advance knowledge of Assange arrest

FILE PHOTO: WikiLeaks founder Julian Assange arrives at the Westminster Magistrates Court, after he was arrested in London
FILE PHOTO: WikiLeaks founder Julian Assange arrives at the Westminster Magistrates Court, after he was arrested in London, Britain April 11, 2019. REUTERS/Hannah McKay/File Photo

April 14, 2019

By Humeyra Pamuk

WASHINGTON (Reuters) – White House adviser Kellyanne Conway On Sunday said she did not believe President Donald Trump had advance knowledge that WikiLeaks founder Julian Assange was going to be arrested by the British police and charged by U.S. prosecutors.

“Not to my knowledge,” Conway told NBC’s “Meet the Press” show, when asked if Trump knew ahead of time about Assange, who last Thursday was hauled out of the Ecuador’s embassy in London where he had taken refuge since 2012 to avoid extradition.

U.S. prosecutors subsequently announced charges on Thursday and accused Assange of conspiring with former Army intelligence analyst Chelsea Manning to gain access to a government computer as part of one of the largest compromises of classified information in U.S. history.

The Justice Department said Assange was arrested under an extradition treaty between the United States and Britain.

Lawyers for Assange said he may risk torture and his life would be in danger if he were to be extradited to the United States. They have also suggested the charges could chill press freedom.

Conway said she believed Trump did not have any knowledge of what was going to happen to Assange but added that based on her numerous conversations with him on the issue, he is against releasing such classified information.

“The President believes that those who publish classified information should not do that,” she said. “…So anybody who’s publishing classified information, in our view, should think thrice before they do that because you can imperil folks.”

Trump in 2016 said “I love WikiLeaks” after the website released emails that U.S. authorities have said were hacked by Russia to harm his election opponent Hillary Clinton. On Friday, he told reporters he had no opinion on the charges against Assange. “I know nothing about WikiLeaks. It’s not my thing,” Trump said.

Assange’s U.S. indictment arose from a long-running criminal investigation dating back to the administration of President Barack Obama.

It was triggered in part by WikiLeaks’ publication in 2010 of U.S. military reports about the wars in Afghanistan and Iraq and the diplomatic communications – disclosures that embarrassed the United States and strained relations with allies.

(Reporting by Humeyra Pamuk; Editing by Nick Zieminski)

Source: OANN

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Sonia Bompastor, director of the Olympique Lyonnais womenÕs Youth Academy, leads a training at the OL Academy near Lyon
Sonia Bompastor, director of the Olympique Lyonnais womenÕs Youth Academy, leads a training at the OL Academy in Meyzieu near Lyon, France, April 16, 2019. REUTERS/Emmanuel Foudrot

April 26, 2019

By Julien Pretot

MEYZIEU, France (Reuters) – Olympique Lyonnais president Jean-Michel Aulas was wringing out his women’s team shirts in the locker room on a rainy London day eight years ago when he decided it was time to take gender equality more seriously.

It was halftime in their Champions League semi-final second leg against Arsenal at Meadow Park with 507 fans watching and Aulas realized that his players did not have a another kit for the second half.

“Next time, there will be a second set just like for the men, that’s how it’s going to work from now on,” he said.

Lyon have since won five Champions League titles to become the most successful women’s team in Europe and recently claimed a 13th consecutive domestic crown.

They visit Chelsea on Sunday in the second leg of their Champions League semi-final, with a fourth straight title in their sights.

At the heart of their achievements is a pervasive ethos that promotes gender equality throughout the club, starting in the youth academy.

In 2013, Aulas appointed former Lyon and France player Sonia Bompastor as head of the Women’s Academy — the female equivalent of one of France’s top youth set-ups that has produced players such as Karim Benzema, Alexandre Lacazette and Hatem Ben Arfa.

At the Youth Academy, girls and boys share the same facilities.

“Pitches, physiotherapy rooms are the same for all,” the 38-year-old Bompastor told Reuters.

As the girls train under the watch of former Lyon and France international Camille Abily, the screams of the boys practicing can be heard nearby.

The boys and girls also benefit from the same psychological support that includes hypnosis sessions and yoga.

“We have a ‘mental ability’ cell and the hypnotist acts on the girls’ subconscious, on their deeply held beliefs after observing them on and off the pitch,” Bompastor added.

SAME TREATMENT

One message the Academy staff are trying to convey is that girls are as good as boys.

“Women’s nature is such that we have low self-esteem. So self-esteem is a big topic for our girls,” said Bompastor.

This is not the case with the boys, she added.

“Some 14, 15-year-old boys still think they would beat our professional players, we tell them this would not be happening. We still need to work on those beliefs,” she said.

Female players also have to face questions that their male counterparts do not, Bompastor explained.

“In France there is a problem with the way women are considered, there are high aesthetic expectations. So we get heavy questions on femininity, intimate questions that men don’t get,” she said.

OL’s Academy has been held up as a shining example for others to follow, even in the U.S., where women’s soccer has a wider audience than in Europe.

“About one third of the (senior women’s) squad comes from the Academy, we have a good balance,” said Bompastor.

“I’m getting tons of requests from American universities and foreign clubs, who want to come and visit our facilities.”

‘ONE CLUB’

The salaries of the senior players is one area where there remains a large discrepancy between Lyon’s men’s and women’s teams.

While the three best-paid women players in the world are at Lyon with Ballon d’Or winner Ada Hegerberg earning 400,000 euros ($445,520) a year, this figure is dwarfed by the around 4 million euros earned annually by men’s player Memphis Depay.

There is, however, a level of interaction between the men’s and women’s players that is not present at many other clubs.

“When you talk about OL you talk about women and men, you talk about one club and you feel it when you are here or outside in the city,” Germany defender Carolin Simon told Reuters.

“We see it when we play in the big stadium. It’s not ‘normal’ for women’s football,” the 26-year-old, who joined the club last year, added.

Lyon’s female players also enjoy respect from their male counterparts, Simon said.

“It’s very cool, it’s a big honor to feel that it doesn’t matter if you are a professional man or woman. We talk with the men, there are handshakes, it’s a good atmosphere and it’s also why we are successful,” said Simon.

“The men respect us and it’s not just for the cameras.”

Her team mate, England’s Lucy Bronze, sees the men’s respect as key to improving women’s football.

“We might not be paid the same but they are just normal with us, they see us as footballers the same as they are,” Bronze told Reuters.

“Being at Lyon has really opened my eyes. To improve women’s football, it starts with having the respect of your male counterparts. It’s the biggest thing because they can influence so many people.”

(Reporting by Julien Pretot; Editing by Toby Davis)

Source: OANN

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FILE PHOTO: Ethiopian migrants, stranded in war-torn Yemen, sit on the ground of a detention site pending repatriation to their home country, in Aden, Yemen
FILE PHOTO: Ethiopian migrants, stranded in war-torn Yemen, sit on the ground of a detention site pending repatriation to their home country, in Aden, Yemen April 24, 2019. REUTERS/Fawaz Salman/File Photo

April 26, 2019

GENEVA (Reuters) – Yemeni authorities have rounded up about 3,000 irregular migrants, predominantly Ethiopians, in the south of the country, “creating an acute humanitarian situation,” the U.N. migration agency said on Friday.

“IOM is deeply concerned about the conditions in which the migrants are being held and is engaging with the authorities to ensure access to the detained migrants,” the International Organization for Migration said.

The migrants are held in open-air football stadiums and in a military camp, it said in a statement.

The detentions began on Sunday in the city of Aden and the neighboring province of Lahj, which are under the control of the internationally recognized government backed by Saudi Arabia and the United Arab Emirates. Iran-aligned Houthi rebels control Sanaa, the capital, and other major urban centers.

Both sides are under international diplomatic pressure to implement a United Nations-sponsored ceasefire deal agreed last year in Sweden and to prepare for a wider political dialogue that would end the four-year-old war.

Thousands of migrants arrive in Yemen every year, mostly from the Horn of Africa, driven by drought and unemployment at home and lured by the wages available in the Gulf.

(Writing by Maher Chmaytelli, Editing by William Maclean)

Source: OANN

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U.S. dollar notes are seen in this picture illustration
U.S. dollar notes are seen in this November 7, 2016 picture illustration. Picture taken November 7. REUTERS/Dado Ruvic/Illustration

April 26, 2019

(Reuters) – Following are five big themes likely to dominate thinking of investors and traders in the coming week and the Reuters stories related to them.

1/DOLLAR JUGGERNAUT

The dollar has zipped to near two-year highs, leaving many scratching their heads. To many, it’s down to signs the U.S. economy is chugging ahead while the rest of the world loses steam. After all, Wall Street is busily scaling new peaks day after day.

Never mind the cause, the effect is stark. The euro has tumbled to 22-month lows against the dollar and investors are preparing for more, buying options to shield against further downside. Emerging-market currencies are also in pain, with Turkish lira and Argentine peso both sharply weaker.

Now U.S. data need to keep surprising on the upside or even just meet expectations. The International Monetary Fund sees U.S. growth at 2.3 percent this year. For Germany, the forecast is 0.8 percent. The U.S. economy’s rude health has given rise to speculation the Fed might resume raising interest rates. Unlikely. But as other countries — Canada, Sweden and Australia are the latest — hint at more policy easing, there seems to be one way the dollar can go. Up.

(GRAPHIC: Dollar outperforms G10 FX – https://tmsnrt.rs/2Dz17S5)

2/FED: UP OR DOWN?

Wall Street is near record highs and recession worries are receding, so as we mentioned above, investors might wonder if the Federal Reserve will start raising rates again.

Such a pivot is unlikely after the Fed killed off rate-rise expectations at its March meeting. And the latest Reuters poll all but puts to bed any risk of rates will go up this economic cycle, given inflation remains below the Fed’s alarm threshold and unemployment is the lowest in generations.

Before the March rate-pause announcement, a preponderance of economists penciled in one or more increases this year. But that has flipped. A majority of those surveyed April 22-24 see no further tightening through December and more are leaning toward a cut by the end of next year.

Indeed, interest rate futures imply Fed Funds will be below the current 2.25-2.50 percent target range by this December.

Recent positive consumer spending and exports data have eased market concerns of a sharp economic slowdown. But inflation probably needs to run hot for a long period to panic policymakers off their wait-and-see course.     

(GRAPHIC: Federal funds and the economy – https://tmsnrt.rs/2DzjTZz)

3/HEISEI TO REIWA

Next week ends three decades of Japan’s Heisei era. Heisei, or Achieving Peace, began in 1989 near the peak of a massive stock market bubble and closes with the country trapped in low growth, no inflation, and negative interest rates.

The new era that dawns on May 1 is called Reiwa, meaning Beautiful Harmony. It begins when Crown Prince Naruhito ascends the Chrysanthemum Throne. But do investors really want harmony? What they want to see is a bit of economic growth and inflation to shake up the status quo.

The Bank of Japan’s stimulus toolkit to revive a long-suffering economy is anything but harmonious and yet it’s set to stay. The central bank confirmed recently rates will stay near zero for a long time. But the coming days may not be harmonious or peaceful for currency markets. A 10-day Golden Week holiday kicks off on April 29 and investors are fretting over the risk of a “flash crash” – a violent currency spasm that can occur in times of thin trading turnover.

The year has already seen two yen spikes and many, including Japan’s housewife-trader brigade – so-called Mrs Watanabes – appear to have bought yen as the holiday approaches. Their short dollar/long yen positions recently reached record highs, stock exchange data showed.

(GRAPHIC: Japan stocks: from Hensei to Reiwa – https://tmsnrt.rs/2W6a7Fe)

4/EARNING TURNING

Quarterly earnings were supposed to be the worst in Europe in almost three years, but with a third of results in, things are looking a little rosier.

Two-thirds of companies’ results have beat expectations, and they point to earnings growth of 4.5 percent year-on-year. Financials have delivered the biggest surprises, according to analysis by Barclays.

That might just show how low expectations were. In fact, analysts are still taking a red pen to their estimates.

The latest I/B/E/S data from Refinitiv shows analysts on average expect first-quarter earnings-per-share for STOXX 600-listed companies to fall 4.2 percent. That would be their worst quarter since 2016 and down sharply from an estimated 3.4 percent just a week earlier.

Those estimates may end up being a little too bearish as earnings season goes on, quelling worries that Europe is heading toward a corporate recession.

GSK and Reckitt Benckiser will give the market a glimpse of the health of the consumer products market and spending on everything from toothpaste, washing powder and paracetamol.

(GRAPHIC: Earnings forecasts – https://tmsnrt.rs/2DuO2ZF)

5/WAITING FOR THE OLD LADY

Sterling has gone into the doldrums amid the Brexit delay and unproductive talks between the UK government and the opposition Labour party on a EU withdrawal deal. The resurgent dollar, meanwhile, has taken 2 percent off the pound in April. It is unlikely the Bank of England will be able to rouse it at its May 2 meeting.

Despite robust retail and jobs data of late, the economic picture is gloomy – 2019 growth is likely to be around 1.2 percent, the weakest since 2009, investment is down and Governor Mark Carney says business uncertainty is “through the roof”.

Indeed, expectations for an interest rate increase have been whittled down; Reuters polls forecast rates will not move until early 2020, a calendar quarter later than was forecast a month ago. The hunt for a new governor to replace Carney in October adds more uncertainty to the mix.

The recent run of UK data has fueled hopes of economic rebound. That’s put net hedge fund positions in the pound into positive territory for the first time in nearly a year. The Old Lady of Threadneedle Street might temper some of that optimism.

(GRAPHIC: Sterling positions – https://tmsnrt.rs/2XJwUXX)

(Reporting by Alden Bentley in New York, Vidya Ranganathan in Singapore; Karin Strohecker, Josephine Mason and Saikat Chatterjee in London; compiled by Sujata Rao; edited by Larry King)

Source: OANN

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U.S. President Trump departs for travel to Indianapolis from the White House in Washington
U.S. President Donald Trump talks to reporters as he departs for travel to Indianapolis, Indiana from the White House in Washington, U.S., April 26, 2019. REUTERS/Jonathan Ernst

April 26, 2019

WASHINGTON (Reuters) – U.S. President Donald Trump on Friday said trade talks with China are going very well, as the world’s two largest economies seek to end talks with a trade agreement to defuse tensions.

Trump said on Thursday he would soon host China’s President Xi Jinping at the White House.

Earlier this week, the White House said that Treasury Secretary Steven Mnuchin and U.S. Trade Representative Robert Lighthizer would travel to Beijing for more talks on a trade dispute marked by tit-for-tat tariffs between the two countries.

(Reporting by Jeff Mason; Writing by Makini Brice; Editing by Chizu Nomiyama)

Source: OANN

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U.S. President Donald Trump hosts Take Our Daughters and Sons to Work Day at the White House in Washington
U.S. President Donald Trump gives a thumbs up to his audience as he hosts Take Our Daughters and Sons to Work Day at the White House in Washington, U.S., April 25, 2019. REUTERS/Kevin Lamarque

April 26, 2019

WASHINGTON (Reuters) – U.S. President Donald Trump on Friday praised Russian President Vladimir Putin’s comments on North Korea this week following the Russian leader’s summit with Pyongyang’s Kim Jong Un.

Speaking to reporters at the White House, Trump also said China was helping with efforts aimed at the denuclearization of North Korea.

(Reporting by Jeff Mason and Makini Brice; Writing by Susan Heavey; Editing by Chizu Nomiyama)

Source: OANN

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