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U.S. airlines hit by system-wide outages

/Southwest flights delayed nationally
Passengers wait to board a delayed Southwest flight at Ronald Reagan Washington National Airport in Arlington, VA, U.S. April 1, 2019. REUTERS/Leah Millis

April 1, 2019

(Reuters) – Three major U.S. airlines said on Monday they were experiencing system-wide computer outages, with United Airlines saying it was unable to create paperwork as a result.

Delta Air Lines and Southwest Airlines Co both said on their social media accounts that they were experiencing a system-wide outage.

(Reporting by Sanjana Shivdas in Bengaluru; editing by Patrick Graham)

Source: OANN

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Report: Pentagon Names Space Development Agency Director

The Pentagon has formally launched an independent Space Development Agency, naming its new director, Defense News reported Wednesday.

Citing a memo signed Tuesday by Defense Secretary Patrick Shanahan, the news outlet said the Department of Defense stood up the SDA as a new office that will be directed by retired Air Force Col. Fred Kennedy, who has also served as a senior policy adviser for national security space and aviation during the Obama administration.

"The SDA will define and monitor the Department's future threat-driven space architecture and will accelerate the development and fielding of new military space capabilities necessary to ensure out technological and military advantage in space for national defense," Shanahan wrote, Defense News reported.

And though the SDA is independent for now, the plan is to eventually transfer it inside a stand-alone Space Force, Defense News reported.

"Coordination of requirements and transition decisions will occur through the normal processes once SDA transfers to the U.S. Space Force," Shanahan wrote in the memo.

The news outlet noted outgoing Air Force Secretary Heather Wilson was an early skeptic of a Space Force — and last month told an Air Force symposium she still has "some concerns."

Source: NewsMax America

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Trump: NY Gov. Cuomo Is Part of 'Witch Hunt Hoax'

President Donald Trump continued to express his frustrations about ongoing investigations focusing on him. 

Trump responded to a Tuesday night tweet from the Republican National Committee.

The GOP wrote: “The NY Attorney General (Letitia James) called President Trump an ‘illegitimate president.’ She has proven to have a vendetta against @realDonaldTrump & is using her position of power to baselessly smear the President & the work he’s done for the American people.”

Trump, citing the GOP post, tweeted: “All part of the Witch Hunt Hoax. Started by little (former New York Attorney General) Eric Schneiderman & (Gov. Andrew) Cuomo. So many leaving New York!”

Earlier on Tuesday Trump, in another tweet, accused New York state and Cuomo of being “presidential harassers.”

Meanwhile, James has issued subpoenas to two banks as she searches for loan applications, mortgages and other documents linked to the president’s real estate business.

Source: NewsMax Politics

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Serial slasher on bicycle behind multiple attacks in Los Angeles, police say

Authorities in the nation's second-largest city are on the lookout for a man suspected of slashing at least eight people while speeding past them on his bicycle -- with two new attacks reported in a Los Angeles neighborhood Monday.

The Los Angeles Police Department said in a news release the two attacks happened around 8:40 a.m. in the area of Florence Avenue and Avalon Boulevard in South Los Angeles.

One man reported to officers he was standing on the sidewalk near a bus stop when the slasher rode by and cut him with an unknown type of edged weapon, causing a "severe injury" to his face.

About 15 minutes later, a woman reported a man on a bicycle slashed her face as he rode by, causing a "severe injury to the left side of her face and ear," according to police.

NYC JOGGER KARINA VETRANO’S KILLER BOASTS ABOUT LANDING 'FRONT PAGE' OF NEWSPAPERS FOLLOWING CONVICTION

Both victims were transported by paramedics from the Los Angeles Fire Department to area hospitals, and both are expected to survive. Police released photos and surveillance video of the suspected slasher, who can be seen on his bike.

The attacks on Monday were among only the latest perpetrated against men and women in the past 11 days, KABC-TV reported.

"He's striking from the rear, and when you do that, he is cutting all of these people really deep," LAPD Detective Steve Garcia told the television station. "It's hard to say if it's a knife, possibly a box cutter."

Additional attacks were reported last month in the same area and also in South Los Angeles County, all of which happened during daylight hours. On March 20, a man told police he was slashed by a man on a bicycle around 7:30 a.m. while at the corner of Avalon Boulevard and 59th Street.

The South Gate Police Department also had a similar incident on March 27 shortly after 11 a.m. involving a man who slashed a victim's face with a sharp weapon, causing a severe injury.

MOM WHO PULLED GUN ON MAN SHE CLAIMED WAS ABDUCTING HER DAUGHTER NOW SAYS IT WAS 'CULTURAL MISUNDERSTANDING'

The suspect is described as between 18 and 30 years of age with short hair and usually riding a black and green mountain bike. The man is between 5-6 and 5-8 and weighs about 150 pounds, according to police.

A suspect in a serious of slashings in Los Angeles can be seen in this surveillance video.

A suspect in a serious of slashings in Los Angeles can be seen in this surveillance video. (Los Angeles Police Department)

He was last seen riding westbound on Slauson Avenue from Main Street, FOX11 reported.

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Anyone with information on the man or the attacks is urged to contact LAPD at (323) 318-3610, or Crime Stoppers at (800) 222-TIPS.

Source: Fox News National

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Pershing Square up 31.9 percent, Ackman says stable capital base to help firm

FILE PHOTO: William 'Bill' Ackman, CEO and Portfolio Manager of Pershing Square Capital Management, speaks during the Sohn Investment Conference in New York City
FILE PHOTO: William 'Bill' Ackman, CEO and Portfolio Manager of Pershing Square Capital Management, speaks during the Sohn Investment Conference in New York City, U.S., May 8, 2017. REUTERS/Brendan McDermid

March 25, 2019

BOSTON (Reuters) – Hedge fund manager William Ackman said in his annual letter to shareholders that his Pershing Square Holdings fund has gained 31.9 percent since the start of 2019, the best start to the year in the firm’s 15-year history.

Ackman also said that his publicly traded fund, Pershing Square Holdings, now makes up $6 billion of the firm’s $8 billion in assets. Because the capital base is stable, where investors need to sell to another investor before exiting, Ackman expects it will help the firm in delivering higher rates of return over time.

(Reporting by Svea Herbst-Bayliss; editing by Grant McCool)

Source: OANN

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In second stint as U.S. attorney general, Barr faces toughest call on Mueller report

FILE PHOTO: U.S. Attorney General William Barr leaves his house after Special Counsel Robert Mueller found no evidence of collusion between U.S. President Donald Trump’s campaign and Russia in the 2016 election in McClean, Virginia
FILE PHOTO: U.S. Attorney General William Barr leaves his house after Special Counsel Robert Mueller found no evidence of collusion between U.S. President Donald Trump’s campaign and Russia in the 2016 election in McClean, Virginia, U.S., March 25, 2019. REUTERS/Joshua Roberts/File Photo

April 9, 2019

By Andy Sullivan and Sarah N. Lynch

WASHINGTON (Reuters) – On Aug. 29, 1991, William Barr had a decision to make.

Cuban inmates had seized hostages inside an Alabama prison in a bid to avoid deportation, and now they were threatening to kill them. Only 19 days into his job as acting attorney general, Barr ordered the FBI to mount a rescue mission.

Before dawn broke the next day, the hostages were freed and the prisoners subdued. Barr’s gamble had paid off. Three months later, he was confirmed unanimously by the Senate to serve as nation’s youngest attorney general, the top U.S. law enforcement official.

Barr, now 68, is “not afraid to make decisions that fall into his areas of responsibility,” said George Terwilliger, who served as Barr’s deputy during his first stint as attorney general under President George H.W. Bush.

Barr is back atop the Justice Department, appointed by Donald Trump after the Republican president fired Jeff Sessions as attorney general in November.

Barr is facing a different type of high-pressure situation as he determines how much of Special Counsel Robert Mueller’s report on Russia’s role in the 2016 election and contacts between Moscow and Trump’s campaign should be made public. Department regulations give Barr broad authority to decide what to disclose and what to withhold.

So far, all Barr has released since Mueller submitted the nearly 400-page report on March 22 is a four-page letter, made public two days later, describing the special counsel’s main conclusions.

Barr wrote that Mueller had not concluded that Trump’s campaign engaged in a criminal conspiracy with Moscow. Barr also said he personally decided after reviewing the report that Mueller did not find enough evidence to show that Trump committed the crime of obstruction of justice.

That assessment has drawn sharp criticism from Democrats. In addition, some members of Mueller’s team are spreading the word that they are unhappy with the way Barr characterized their work, according to media reports.

The public is likely to get a greater look at the factors behind Barr’s decision to clear Trump of obstruction of justice – Mueller had not exonerated Trump – and other investigative details when the attorney general releases a redacted version of the report, which he has promised by mid-April.

For some, that will be too late, considering that all the public knows about the findings in a 22-month inquiry that cast a cloud over Trump’s presidency is the little that Barr has already disclosed.

“It is like fundamentally rigging the game before we know what the actual score is,” said Harvard Law School professor Laurence Tribe, who worked with Barr on a telecommunications case in the 1990s. “His integrity, his history, his reputation is shattered by what he has done. I have no idea what could have motivated him.”

‘AN IMPRESSIVE EFFORT’

Others have said Barr made the right decision on the obstruction question, noting that it is difficult to prove that Trump committed criminal obstruction if Mueller did not find that he destroyed evidence or directly interfered with the investigation – even though he assailed the inquiry as a “witch hunt” and called the investigators partisan zealots.

“Trump made an impressive effort at creating an obstruction case against himself, but it’s no easy task to obstruct an investigation where prosecutors do not believe there’s an underlying crime,” George Washington University law professor Jonathan Turley said.

Parts of the report are expected to be blacked out to protect information deemed sensitive. Barr, with Mueller’s assistance, has spent weeks redacting material that might compromise ongoing investigations or intelligence-gathering sources and methods. Barr has said he is also removing material from grand-jury proceedings that by law can be made public only through a court order.

Barr also may opt to redact portions that discuss people who were investigated but not charged such as Trump’s son-in-law Jared Kushner. That would fit with longstanding Justice Department policy, but could draw criticism from Democrats who have said the public should know as much as possible about Trump campaign contacts with Russia during and after the 2016 election.

Trump has said he will not use a legal doctrine called executive privilege, which allows a president to withhold information about internal executive branch deliberations from other branches of government, to block portions of the report. Barr has said he does not plan to submit the report to the White House for review.

“Bill Barr is going to call it like he sees it,” said Wayne Budd, who served as the Justice Department’s third-ranking official during Barr’s first stint as attorney general.

“I think he understands the role of the attorney general is not as a lawyer for the president,” Budd added, “but as a lawyer for the people of the United States.”

(Reporting by Andy Sullivan and Sarah N. Lynch; Editing by Will Dunham)

Source: OANN

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Vatican says pope will visit 3 African nations in September

The Vatican has announced that Pope Francis will visit the African countries of Mozambique, Madagascar and Mauritius from Sept. 4-10.

The Vatican said on Wednesday that Francis will visit the capitals: Maputo in Mozambique, Antananarivo in Madagascar and Port Louis in Mauritius.

The Holy See gave no other details, saying they would be divulged in due time.

The Mozambican President Filipe Nyusi said in a national address on Wednesday that the pope's visit would be "an inspiration and an encouragement" to help "rebuild a prosperous, united and peaceful" nation.

Nyusi noted the Vatican has played a role in peace talks with the southern African country's Renamo opposition.

Source: Fox News World

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FILE PHOTO: An aerial photo looking north shows shipping containers at the Port of Seattle and the Elliott Bay waterfront in Seattle
FILE PHOTO: An aerial photo looking north shows shipping containers at the Port of Seattle and the Elliott Bay waterfront in Seattle, Washington, U.S. March 21, 2019. REUTERS/Lindsey Wasson/File Photo

April 26, 2019

NEW YORK (Reuters) – U.S. economic growth is running at a 1.1% pace in the second quarter as the gains in exports and inventories recorded in the first quarter are expected to reverse, Morgan Stanley economists said on Friday.

“Our preliminary expectations for growth in the second quarter sees large drags from net exports and inventories after their contributions in 1Q,” they wrote in a research note.

Gross domestic product increased at a 3.2% annualized rate in the first three months of the year, driven by a smaller trade deficit and the largest accumulation of unsold merchandise since 2015, the Commerce Department said earlier Friday.

(Reporting by Richard Leong)

Source: OANN

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FILE PHOTO: The Deutsche Bank headquarters are pictured in Frankfurt
FILE PHOTO: The Deutsche Bank headquarters are pictured in Frankfurt, Germany, April 25, 2019. REUTERS/Ralph Orlowski/File Photo

April 26, 2019

By Tom Sims

FRANKFURT (Reuters) – Within hours of the collapse of merger talks with Commerzbank, Christian Sewing scrambled to convince investors and employees that Deutsche Bank can stand on its own two feet.

The Deutsche Bank chief executive told staff, many of whom opposed a merger because of significant job losses, that while he had not been “skeptical” about the Commerzbank talks, he was cautious about the chances of success from the start.

And another top Deutsche Bank executive said on Friday that it had been Commerzbank that initiated the talks, suggesting there was no desperation on their part for a deal.

Commerzbank denied that version of events, ending the apparent truce between the normally highly competitive cross-town Frankfurt rivals over the past six weeks.

German hopes of creating a national banking champion able to challenge global competitors were finally dashed on Thursday when Deutsche Bank and Commerzbank ended their talks due to the risks of doing a deal, restructuring costs and capital demands.

For Sewing, the failure to clinch a deal has left the 49-year-old chief executive of Germany’s largest bank, who took over just over a year ago, with his back to the wall.

Credit ratings agency Standard & Poor’s, which downgraded Deutsche Bank last year, said on Friday that Deutsche Bank “will remain under strain”, adding that it “seems to have acknowledged the need to adjust its strategy”.

Under Sewing, a new leadership has tried to revive Deutsche Bank’s fortunes, but it has faced money laundering allegations and failed stress tests, as well as ratings downgrades.

At the heart of the debate over its future is whether it should focus its business on Germany and draw a line under its costly global ambitions to take on Wall Street’s big guns.

“MARKET PLAY”

Without a deal, Deutsche Bank now finds itself back at the mercy of equity and debt markets, with UBS analysts warning that in a “stress scenario” it could again “be forced into a ‘debt-driven capital increase’ even with solid capital ratios”.

“Deutsche remains a levered market play vulnerable to external events,” the UBS analysts said in a note.

Sewing, along with many analysts, believes Deutsche Bank can go it alone in the short-term, but will be counting on a turnaround in market conditions to do so in the long-run given its dependence on volatile investment bank earnings.

“To reach our return objective, we also need to see a revenue recovery in our more market-sensitive business,” Sewing said on Friday after reporting results.

“These revenues are available to us in better market conditions given our leading positions in many of these businesses, but we need to capture them,” he added.

Revenue at Deutsche Bank’s bond trading division fell 19 percent in the first quarter, it said on Friday, underscoring weakness at its investment bank.

If those earnings do not improve, Berlin’s desire to keep its biggest bank out of foreign hands may start to wane.

“Germany’s globally active companies need competitive financial institutions that can support them around the world,” German finance minister Olaf Scholz said on Thursday.

(Writing by Alexander Smith; Editing by Keith Weir)

Source: OANN

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Panama's former president Ricardo Martinelli yells to the media while arriving to the Electoral Court in Panama City
Panama’s former president Ricardo Martinelli reacts to the media while arriving to the Electoral Court in Panama City, Panama April 26, 2019. REUTERS/Erick Marciscano

April 26, 2019

PANAMA CITY (Reuters) – Panama’s electoral tribunal has ruled that former President Ricardo Martinelli, who is awaiting trial on wiretapping charges, cannot take part in elections on May 5 in which he was running for mayor of Panama City and a seat in Congress, a spokesman for Martinelli said on Friday.

“The ruling of the electoral tribunal has disqualified him as candidate,” said the spokesman, Eduardo Camacho, calling the court’s ruling a “political decision.”

Officials at the tribunal did not immediately confirm the ruling, which also was reported in local media in Panama.

Martinelli, a supermarket tycoon who ran the Central American country from 2009 to 2014, was extradited to Panama last June from the United States and charged with spying on 150 people, including politicians, union leaders and journalists.

A judge had previously cleared Martinelli to run for mayor of the capital. His critics vowed to appeal that decision.

(Reporting by Elida Moreno and Stefanie Eschenbacher; Editing by Bill Trott)

Source: OANN

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FILE PHOTO: Amazon boxes are seen stacked for delivery in the Manhattan borough of New York City
FILE PHOTO: Amazon boxes are seen stacked for delivery in the Manhattan borough of New York City, January 29, 2016. REUTERS/Mike Segar/File Photo

April 26, 2019

(Reuters) – Shares of Walmart, Target and other U.S. retailers fell on Friday as Amazon.com Inc unveiled a one-day delivery plan for its Prime members in a move to further disrupt the fiercely competitive retail landscape.

The e-commerce giant’s announcement on Thursday could cause other brands, manufacturers, retailers, and logistics companies to have to invest more aggressively to compete with Amazon and its delivery, analysts said.

Retailers in recent years have poured billions into ecommerce and faster shipping options and are trying to close the gap with Amazon.

“This is about making it more expensive to catch up and affirms our world view that only the largest and smartest will survive,” Bernstein analyst Brandon Fletcher said.

The move is expected to heighten consumer expectations on e-commerce delivery just like Amazon did with its two-day shipping option for members of its loyalty club Prime, noted analysts.

“The faster you ship, the more people buy,” RBC Capital Markets analyst Mark Mahaney said.

The challenge for non-Amazon players was that very few of the existing logistics and parcel delivery players now have the ability to do nationwide one-day delivery, Morgan Stanley analyst Brian Nowak said.

“And even fewer can do it at the vast scale and reasonable cost that AMZN would need for Prime delivery,” Nowak said in a note.

Walmart Inc’s shares fell about 3 percent, while Target Corp dropped about 5 percent in morning trade.

Shares of Kohl’s Corp, Macy’s Inc and Nordstrom Inc fell about 1 percent. Grocer Kroger Co was nearly 3 percent lower, while consumer electronics retailer Best Buy Inc dropped 2.1 percent.

(Reporting by Soundarya J and Akanksha Rana in Bengaluru; Editing by Maju Samuel)

Source: OANN

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A Chinese woman adjusts a Chinese national flag next to U.S. national flags before a Strategic Dialogue expanded meeting, part of the U.S.-China Strategic and Economic Dialogue (S&ED) in Beijing
A Chinese woman adjusts a Chinese national flag next to U.S. national flags before a Strategic Dialogue expanded meeting, part of the U.S.-China Strategic and Economic Dialogue (S&ED) held at the Diaoyutai State Guesthouse in Beijing, July 10, 2014. REUTERS/Ng Han Guan/Pool (CHINA – Tags: POLITICS BUSINESS)

April 26, 2019

By April Joyner

NEW YORK (Reuters) – Even as the lift from optimism over prospects for U.S.-China trade detente shows signs of wearing off for the wider U.S. stock market, upbeat sentiment around China’s economy could bolster shares of materials companies.

Shares of S&P 500 industrial and technology companies, which were buffeted by last year’s tit-for-tat tariffs as well as slowing global demand, have been very responsive to progress in U.S.-China trade relations and a strengthening Chinese economy. This year, those sectors have outpaced the ascent in the S&P 500, which reached a record closing high on Tuesday.

Materials stocks have not been as sensitive, however, even though they also stand to benefit as a stronger Chinese economy lifts global consumption and industrial output. As China has taken measures to stimulate its economy, its economic data have turned more upbeat. That in turn could aid global growth, which has flagged as a result of China’s cooldown.

“What we’re seeing is China spending more on stimulus: fiscal stimulus and monetary stimulus,” said Kristina Hooper, chief global market strategist at Invesco in New York. “That’s likely to be a positive for materials.”

The People’s Bank of China has cut banks’ reserve requirement ratio five times over the past year and is widely expected to ease policy further to spur lending and reduce borrowing costs. The stimulus appears to have boosted Chinese economic data, with factory activity growing in March for the first time in four months.

Yet so far in 2019, the S&P 500 materials index has underperformed the S&P 500 at large, rising just 11.9% compared with 16.7% for the benchmark index. Moreover, it is among the biggest decliners in the period since the S&P’s previous record closing level on Sept. 20. The materials index has fallen 7% over those seven months, versus a 5.2% gain for technology and a 3% loss for industrials. Only the energy index has dropped more over that period.

A trade agreement could serve as a catalyst for a bump in materials shares as a drag on China’s economy is lifted, some market strategists say. Some commodity prices, including those for copper and oil, have ascended this year as the prospects for the global economy have somewhat brightened.

“It all goes back to the global growth outlook,” said Andrea DiCenso, portfolio manager for alpha strategies at Loomis Sayles in Boston. “With the front run in hard data, we’re beginning to see a pretty significant rally.”

Additionally, a trade agreement is expected to include commitments from China to purchase higher quantities of U.S. products such as soybeans, which could benefit companies that make agricultural chemicals, including DowDuPont Inc and CF Industries Holdings Inc.

CF Industries is scheduled to report quarterly results after the bell on Wednesday, and DowDuPont is scheduled to report before the market open on Thursday.

To be sure, even with a trade agreement, some materials companies could face price pressures. Shares of Freeport-McMoRan Inc fell 10.1% on Thursday after the copper mining company posted a lower-than-expected profit as its production slipped and its costs rose.

A rollback of tariffs on Chinese imports, particularly aluminum and steel, would likely prompt a fall in some commodity prices, which could hurt prospects for certain materials companies, said Gene Goldman, chief investment officer at Cetera Investment Management in El Segundo, California.

Even so, those drawbacks may be outweighed by the support for global demand fostered by a U.S.-China trade agreement.

“You could see a number of companies with lowered expectations bring them back up as they talk favorably about the impact that a trade deal would have on them,” said Tim Ghriskey, chief investment strategist at Inverness Counsel in New York.

(Reporting by April Joyner; additional reporting by Sinéad Carew; editing by Jonathan Oatis)

Source: OANN

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