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Ford investigating possible problems with fuel economy, emissions tests

The 88th Geneva International Motor Show
The logo of Ford is seen during the 88th International Motor Show at Palexpo in Geneva, Switzerland, March 6, 2018. REUTERS/Pierre Albouy/File Photo

February 21, 2019

By Joseph White

DETROIT (Reuters) – Ford Motor Co said on Thursday it had hired outside experts to investigate its vehicle fuel economy and testing procedures after employees raised concerns, and did not know whether it would have to correct data given to regulators or consumers.

The investigation and concerns involving Ford’s testing processes do not involve the use of so-called defeat devices – hardware and software designed deliberately to deceive government emissions tests, Kimberly Pittel, Ford’s group vice president for sustainability, environment and safety engineering, told Reuters on Thursday.

The automaker since last fall has been investigating concerns raised by employees that incorrect calculations were used to translate test results into the mileage and emissions data submitted to regulators, Pittel said.

Ford said it was evaluating changes to the process it uses to develop fuel economy and emissions figures, “including engineering, technical and governance components.”

Ford shares dipped slightly in after-hours trading following the disclosure.

Ford has hired the Sidley, Austin law firm to lead an independent investigation into possible discrepancies in calculations used to produce emissions and fuel economy figures, Pittel said. The company is using an independent laboratory to conduct testing.

U.S. and California regulators have been cracking down on automakers for emissions cheating following revelations in 2015 that German automaker Volkswagen AG had used defeat devices to make models equipped with diesel engines appear to comply with emissions standards when they emitted far more pollution than allowed in real-world driving.

“We have voluntarily shared this information” with the U.S. Environmental Protection Agency and the California Air Resources Board, Pittel said. Ford notified the agencies this week, she said.

The EPA said in a statement on Thursday that information from Ford’s investigation is “too incomplete for EPA to reach any conclusions. We take the potential issues seriously and are following up with the company to fully understand the circumstances behind this disclosure.”

The investigation has started with testing of the 2019 Ranger pickup truck, and the company expects data back next week, Pittel said.

Pittel said it was not clear what impact the review will have on advertised mileage or fuel economy data submitted to regulators, nor is it clear how many vehicles could be affected if Ford is required to revise the data.

“We are going to go where the investigation takes us,” she said.

Ford has been embarrassed in the past by errors in fuel economy claims. In 2013, the automaker cut by seven miles per gallon the claimed fuel economy for its C-Max hybrid model following complaints that real-world mileage did not match the claimed fuel economy. In 2014, Ford lowered fuel economy ratings for six other models and offered compensation to customers.

(Reporting by Joe White; editing by Jonathan Oatis)

Source: OANN

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Cops Called After Enraged Man Makes Own Pizza at Taco Bell

A disgruntled drive-thru customer shocked Taco Bell employees when he stormed into the South Carolina restaurant's kitchen and started making his own pizza after complaining there was "there was not enough meat on his Mexican pizza," The Smoking Gun reported.

According to an incident report, the ordeal took place Wednesday at a Spartanburg Taco Bell. The unidentified suspect ordered a Mexican pizza from the drive-thru but later returned complaining about the meager serving of meat on his order.

Taco Bell employee Crystal Smith told police she re-made the pizza but the suspect was still not satisfied and demanded he be given a refund. When staff told him this was not possible, the enraged man stormed into the Taco Bell's kitchen, made his own pizza then subsequently left the premises.

According to the incident report, the suspect "did not follow proper health/safety guidelines" by not wearing "protective gloves while making his food."

Smith described the suspect as "angry and upset" and said he used foul language in response to her offers to re-make his pizza.

The suspect has not been apprehended but police said they are on the lookout for him. According to the incident report, the disgruntled customer was driving a Dodge Challenger allegedly driven by a woman who never entered the restaurant. According to Fox News, he could potentially face charges of theft of property and trespassing.

Earlier this year another enraged Taco Bell customer made headlines when he fired his gun out of a drive-thru window during a confrontation with an employee over taco sauce, KOCOreported.

Sgt. Gary Knight told the news outlet the "man was complaining about not getting enough sauce, or not getting any taco sauce and was very upset."

According to the report, the unidentified man pulled out a semi-automatic handgun and fired it through the drive-thru window before driving off. No one was injured but police were unable to apprehend the suspect.

Source: NewsMax America

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St. Louis prosecutor urges steps for bail-posting nonprofit

St. Louis' top prosecutor on Wednesday urged a nonprofit group to review court records before posting bail for inmates, days after a man freed from jail was charged with killing his wife soon after his release.

Circuit Attorney Kim Gardner also asked the Bail Project to contact her office before posting bail for anyone accused of crimes involving victims, including domestic violence. Gardner said in a statement that would allow victims and witnesses to be told about the release.

Prosecutors said Samuel Lee Scott, 54, attacked his wife, Marcia Johnson, at her home on April 9, soon after $5,000 bail was posted to free him from jail. He was awaiting trial for domestic violence.

When a friend found her, Johnson "was unconscious, had a broken eye socket, several broken ribs, and was bruised from head to toe," a probable cause statement said. Johnson died days later at a hospital.

Scott is now charged with first-degree murder and jailed on $1 million bond. A phone message left with his attorney was not immediately returned.

Scott was initially jailed in January on an accusation that he struck Johnson in the face. A probable cause statement said he also threatened that he "might as well finish what (he) started since (she) was going to contact the police."

A misdemeanor domestic assault charge was filed April 5, four days before the St. Louis branch of the Bail Project bailed him out.

"If all of the charging documents were reviewed by the Bail Project, they would have seen the safety concerns of the victim, prosecutors and courts," Gardner said. "This information would have given the Bail Project an appreciation for the level of risk associated in the case."

Bail Project Executive Director Robin Steinberg said in a statement that it's "inexcusable to use Ms. Johnson's memory to stoke fear and undermine the real dialogue that needs to happen here, which is how can we prevent gender-based violence without relying on the very jails that break people and perpetuate harm, violence and poverty in families for generations."

Gardner said she shares a desire for criminal justice reform, including reducing the number of people jailed unnecessarily while awaiting trial. But she cited an obligation "to put victims' safety first."

Source: Fox News National

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New York Times, Washington Post Divided Over Socialist Green New Deal

The editorial boards of The New York Times and The Washington Post are at odds over the Green New Deal, which effectively shutters America’s energy sector and issues paychecks to those “unwilling to work.”

The leftist outlets each released editorials over the weekend addressing the merits of the Green New Deal proposal championed by socialist Rep. Alexandria Ocasio-Cortez (D-N.Y.), with condemnations by WaPo and praise from NYT.

“Good intentions aren’t enough. We can’t afford bad ideas,” WaPo’s editorial board wrote Sunday, adding that the costs and timeline of the proposal make its goals “impossible.”

“These expensive aspirations, no matter how laudable, would do nothing to arrest greenhouse-gas emissions. As ostensible parts of a Green New Deal, they divert money and attention from the primary mission: rapidly eliminating emissions between now and midcentury.”

But The Times had a different take: they asserted the Green New Deal is the best solution for America, if only because it brought “climate change” into the national conversation.

“It has since won the full or partial allegiance of a half-dozen Democratic presidential hopefuls who pray that town hall participants or debate moderators will ask them what they think about global warming,” the NYT editorial board wrote Saturday.

“Which in turn means that, whatever becomes of the plan, it will have moved climate change — a serious issue that has had serious trouble gaining traction — to a commanding position in the national conversation. That alone is reason to applaud it.”

The problem, according to the board, is that the “amateurish” way the Green New Deal was unveiled only gave conservatives political ammo against the socialist proposal.

“Unfortunately, that rollout was anything but smooth, due largely to the bungling of Ms. Ocasio-Cortez’s staff, which posted on her website a set of pugnacious and poorly written talking points (later disavowed) that scared even moderate Democrats,” the Times board explained.

“The talking points made other dubious promises, including jobs even for Americans ‘unwilling’ to work. The immediate result of this amateurish mess was to hand Mr. Trump and other climate deniers irresistible political talking points.”

The different takes highlight the division the Green New Deal has sown within the Democrat Party.

President Trump slammed the socialist pipe dream after its unveiling earlier this month, sarcastically calling it a “brilliant” plan by the Democrats.

“I think it is very important for the Democrats to press forward with their Green New Deal. It would be great for the so-called ‘Carbon Footprint’ to permanently eliminate all Planes, Cars, Cows, Oil, Gas & the Military – even if no other country would do the same. Brilliant!”


Twitter: 

Alexandria Ocasio-Cortez posted a video on Instagram in which she said it’s logical for this generation to reconsider having children because of climate change affecting the globe. Alex exposes this eugenics talking point now going mainstream.

Source: InfoWars

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Bobcat survives deadly California wildfire, has 4 kittens

A young bobcat that survived a massive and deadly wildfire in Southern California last year has given birth to four kittens, wildlife officials said Friday.

Biologists recently found the bobcat's den in dense vegetation in a large residential backyard in Westlake Village just northwest of Los Angeles, according to officials with the Santa Monica Mountains National Recreation Area.

While their mother was away, the biologists weighed, measured and tagged one male and three female kittens. They also gave them a general health check-up.

The kittens are about four weeks old and each weigh about a 1 pound, or half a kilogram.

Their mother, B-362, was tagged the day before the start of last year's Woolsey Fire, which destroyed 1,600 structures and left three people dead. She had been captured in an area of Thousand Oaks that was gutted by the blaze.

"This cat first had to deal with her habitat getting completely burned in the fire and then finding a new home in an unburned area," biologist Joanne Moriarty said in a statement. "She chose a den in thick brush where she could keep her kittens safe."

Though last year's fires have made it a stressful time for wildlife, "we're happy to see her thriving," Moriarty said.

Another female bobcat being studied by the biologists has remained in the burn area but hasn't reproduced.

Biologists say that bobcats will keep their kittens in their dens until they're about three months old, when they'll begin following her as she hunts and goes about her day. Bobcats generally become independent at nine to 11 months old.

Last month, a male bobcat known as B-361 was killed by a car in Calabasas, the second most common cause of death among the population after mange, according to the National Park Service.

Source: Fox News National

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Highlights from Mueller’s report on Russia investigation

The public was able to get its first detailed look at Special Counsel Robert Mueller’s bombshell report on his years-long investigation into Russian interference in the 2016 election early Thursday.

Attorney General William Barr released the 448-page “limited” redacted document after giving a brief interpretation of the findings.

The major takeaway, according to Barr, was that there was no evidence of collusion between the Trump campaign and Russia. However, the report also noted that while it didn’t conclude Trump committed a crime, it doesn’t formally “exonerate” him.

MUELLER REPORT SHOWS PROBE DID NOT FIND COLLUSION EVIDENCE, REVEALS TRUMP EFFORTS TO SIDELINE KEY PLAYERS

But there were some key details Barr previewed that constituents and lawmakers alike were eager to learn more about, particularly President Trump’s dialogue with campaign associates and the issue of obstruction of justice.

Although Barr and Deputy Attorney General Rod Rosenstein didn’t find sufficient evidence to reach a conclusion on that front, the report listed 10 episodes related to the allegations that piqued public interest.

Here’s a look at some of the main highlights from the report:

No evidence of collusion

As stated in Attorney General Bill Barr’s summary last month, and reiterated again at his news conference Thursday morning, the special counsel did not find evidence of collusion with members of the Trump campaign and Russia.

“[T]he investigation did not establish that members of the Trump Campaign conspired or coordinated with the Russian government in its election interference activities,” the report said, though it noted there were "links" between the two.

Those links included several main points of communication between Trump campaign officials and people with ties to the Russian government.

Those communication points include: Russian officials reaching out to Trump’s foreign policy advisers Carter Page and George Papadopoulos; the campaign’s interactions with the D.C.-based think tank, the Center for the National Interest (CNI), whose president and CEO, Dimitri Simes, had “connections to the Russian government,” according to the report; and the June 9, 2016 meeting at Trump Tower between Donald Trump Jr., Russian attorney Natalia Veselnitskaya, senior adviser Jared Kushner and former campaign chairman Paul Manafort.

The investigation further looked into the meetings between Trump campaign officials and Russian Ambassador Sergey Kislyak during the week of the Republican National Convention and afterward; Manafort’s connections to Russia through his previous work for Russian oligarch Oleg Deripaska and a pro-Russian regime in Ukraine; and the Trump Tower Moscow Project.

According to the report, Mueller’s team looked into whether the campaign intended to work with Russia to interfere in the election, but “the investigation did not establish such coordination,” the report said.

‘Catalyst’ for Comey’s firing

Trump’s abrupt firing of former FBI Director James Comey allegedly stemmed from his refusal to tell the public the president wasn’t being investigated.

“Substantial evidence indicates that the catalyst for the president’s decision to fire Comey was Comey’s unwillingness to publicly state that the president was not personally under investigation, despite the president’s repeated requests that Comey make such an announcement,” the full statement reads.

In the following section, the report also notes that other evidence “indicates that the President wanted to protect himself from an investigation into his campaign.”

“The day after learning about the FBI's interview of (Michael) Flynn, the President had a one-on-one dinner with Comey, against the advice of senior aides, and told Comey he needed Comey's ‘loyalty.’  When the President later asked Comey for a second time to make public that he was not under investigation, he brought up loyalty again, saying ‘Because I have been very loyal to you, very loyal, we had that thing, you know.’”

TRUMP SLAMS 'TOTAL SLEAZE' COMEY, 'CORRUPT' FBI LEADERS, AFTER REPORT BUREAU; LAUNCHED PROBE AFTER DIRECTOR'S OUSTER

Though the report claims Trump “had a motive to put the FBI’s Russia investigation behind him,” the evidence “does not establish that the termination of Comey was designed to cover up a conspiracy between the Trump Campaign and Russia,” it reads.

Shortly after firing Comey, Trump called the former head of the FBI “crazy” and a “real nut job.”

“The President also told the Russian Foreign Minister, ‘I just fired the head of the F.B.I. He was crazy, a real nut job. I faced great pressure because of Russia. That's taken off ..... I'm not under investigation.’”

Former White House Counsel Don McGahn also urged Trump not to fire Comey and suggested he let Comey resign instead.

“McGahn and [Uttam] Dhillon urged the President to permit Comey to resign, but the President was adamant that he be fired,” the report reads.

Trump's fiery reaction to Russia probe: ‘I’m f---ed’

Trump, after learning Deputy Attorney General Rod Rosenstein appointed Mueller to lead the investigation, “slumped back in his chair and said, ‘Oh my God. This is terrible. This is the end of my Presidency. I’m f---ed,” according to the report.

The report continues to say Trump subsequently “lambasted” then-Attorney General Jeff Sessions “for his decision to recuse from the investigation. The report states the president went on to say Sessions was “supposed to protect [him],’ or words to that effect.”

"Everyone tells me if you get one of these independent counsels it ruins your presidency. It takes years and years and I won't be able to do anything. This is the worst thing that ever happened to me,” Trump added, according to the report.

"‘Oh my God. This is terrible. This is the end of my Presidency. I’m f---ed.'"

— - President Trump, according to Mueller's report

MUELLER REPORT REDACTION MEMES FLOOD TWITTER

Separately, after learning of the Special Counsel’s appointment, former White House Communications Director Hope Hicks “described the President as being extremely upset.”

“Hicks said that she had only seen the President like that one other time when the Access Hollywood tape came out during the campaign,” the report reads.

The report also allegedly found evidence Trump was “angered by both the existence of the Russia investigation and the public reporting that he was under investigation, which he knew was not true based on Comey's representations.” The president also told his advisers if the public thought Russia had aided him in winning the 2016 presidential election, “it would detract from what he had accomplished,” it continues.

Trump’s call to McGahn

From the moment Special Counsel Robert Mueller was appointed, Trump complained Mueller had a conflict of interest, including being interviewed for the FBI director position, working for a law firm that represented people affiliated with the president and Mueller’s dispute of membership fees at a Trump golf course in Northern Virginia, according to the report.

The president’s advisers disputed those issues as conflicts of interest, but Trump continued to try to dismiss Mueller from the position. In June 2017, media reports were published saying that the president was under investigation and had obstructed justice. Publicly, the president tweeted criticizing the Department of Justice and the Special Counsel’s investigation, but privately he took more action.

On June 17, 2017, President Trump allegedly called White House counsel Don McGahn at his home and told him to call Sessions to say the special counsel had a conflict of interest and should be dismissed from the position.

“McGahn did not carry out the direction, however, deciding that he would resign rather than trigger what he regarded as a potential Saturday Night Massacre,” the report said, in reference to the Watergate scandal.

McGahn resigned in August.

Sessions’ recusal, resignation

Trump’s rocky relationship with former Attorney General Jeff Sessions was no secret.

The president publicly blasted Sessions, voicing his frustrations after the former Alabama senator recused himself from the Russia investigation in early 2017.

“I don’t have an attorney general. It’s very sad,” Trump previously tweeted.

Mueller’s lengthy report describes Trump’s fiery reaction to Sessions’ announcement that he would remove himself from the probe following revelations he didn’t immediately tell Congress he had spoken previously with Russia’s ambassador on two separate occasions. The president allegedly tried to convince Sessions to “unrecuse” himself despite suggestions it would be a conflict of interest.

“The President continued to raise the issue of Sessions' recusal and, when he had the opportunity, he pulled Sessions aside and urged him to unrecuse. The President also told advisers that he wanted an Attorney General who would protect him, the way he perceived Robert Kennedy and Eric Holder to have protected their presidents,” the report states.

“The President made statements about being able to direct the course of criminal investigations, saying words to the effect of, ‘You're telling me that Bobby and Jack didn't talk about investigations? Or Obama didn't tell Eric Holder who to investigate?’” it continued.

When Trump learned in May 2017 that Muller was approved as special counsel, he blamed Sessions.

“How could you let this happen, Jeff?” Trump asked, adding that Sessions had “let him down,” per the report.

The report indicates Trump then suggested Sessions should resign from his post. Sessions agreed, delivering his resignation letter to Trump in the Oval Office the next day.

Trump campaign’s ‘interest’ in hacked Wikileaks emails

The Trump campaign “showed interest” in stolen emails obtained by WikiLeaks — an anti-secrecy website — that belonged to Hillary Clinton’s presidential campaign and Democratic groups during the 2016 election, according to the report, which added Trump’s team “welcomed their potential damage” to the then-Democratic presidential nominee.

Around the time of WikiLeaks’ first email dump in July 2016, Trump allegedly said he hoped Russia would find emails “described as missing” from a private email server Clinton used when she was secretary of state.

“[Trump] later said he was speaking sarcastically,” the report added in parenthesis.

Sections regarding WikiLeaks were heavily redacted, citing “harm to ongoing matter.” The blackouts are potentially related to the recent arrest of WikiLeaks founder Julian Assange, who was federally charged by the U.S. last week for conspiracy to commit computer intrusion, and ongoing legal issues facing Trump’s longtime confidant Roger Stone. Stone has pleaded not guilty to obstruction of justice, witness tampering and lying to Congress during the Russia probe.

WIKILEAKS FOUNDER JULIAN ASSANGE ARRESTED AFTER ECUADOR WITHDRAWS ASYLUM

Several Trump campaign aides, including Paul Manafort, Michael Cohen and Richard Gates, were said in the report to have “reacted with enthusiasm” to news of the email hacks.

The report is consistent with testimony Cohen provided in late February in which he alleges Stone phoned the President to warn him of the massive Democratic email release. Stone has repeatedly denied he had any communication with Assange and didn’t have any advance notice.

“There is no such evidence,” Stone told Fox News in a text message on Feb.15. Again, on Feb. 27, Stone said Cohen's claims were "not true."

Source: Fox News Politics

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NFL notebook: Patriots owner Kraft faces solicitation charges

FILE PHOTO: New England Patriots owner Robert Kraft raises the Vince Lombardi Trophy after winning Super Bowl LIII against the Los Angeles Rams at Mercedes-Benz Stadium in Atlanta
FILE PHOTO: New England Patriots owner Robert Kraft raises the Vince Lombardi Trophy after winning Super Bowl LIII against the Los Angeles Rams at Mercedes-Benz Stadium in Atlanta, Georgia, U.S., February 3, 2019. Mandatory Credit: Christopher Hanewinckel-USA TODAY Sports

February 23, 2019

New England Patriots owner Robert Kraft faces two counts of solicitation of prostitution in Florida as one of 25 individuals facing similar charges in connection with an investigation into a Florida spa allegedly tied to an international human trafficking ring.

Kraft, 77, is alleged to have paid for sex at Orchids of Asia Day Spa in Jupiter, Fla., one of 10 shut down in the region after a long investigation showed the women in the spas were sex servants, according to authorities. Kraft allegedly visited the spa on two occasions, according to law enforcement.

He has not been arrested on the charges, both classified as misdemeanors. NFL Network reported that an arrest warrant will be issued on Monday with possibility of Kraft facing 60 days in jail.

Kraft, who also owns the New England Revolution MLS franchise, denied the accusations on Friday afternoon. The NFL also released a statement, saying it “is aware of the ongoing law enforcement matter and will continue to monitor developments.”

–After a difficult season culminated by a crucial missed attempt on a potential game-winning field goal in the NFC playoffs, kicker Cody Parkey will be released by the Chicago Bears when the new league year begins in March.

According to multiple reports, the team intends to cut ties with Parkey once the NFL free agency period begins on March 13.

Parkey, who turned 27 on Tuesday, endured an inconsistent season in Chicago after inking a four-year, $15 million contract last winter following the team’s release of Robbie Gould, the Bears’ all-time leading scorer who moved on to the San Francisco 49ers.

–The Philadelphia Eagles announced the release of defensive back Chris Maragos after five seasons with the franchise, missing all of last season with a knee injury he suffered during the 2017 campaign.

Maragos was one of the Eagles’ top special-teams players. The Eagles said he made 49 special teams’ tackles in 53 games with the club and was a Pro Bowl alternate in 2014.

Philadelphia also re-signed kicker Jake Elliott and long snapper Rick Lovato to one-year deals. Elliott has made 52 of 62 field goals in two seasons with the Eagles. Lovato served as long snapper for the past two seasons and has spent parts of the last three campaigns with the Eagles.

–Field Level Media

Source: OANN

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FILE PHOTO: The Credit Suisse logo is pictured on a bank in Geneva
FILE PHOTO: The Credit Suisse logo is pictured on a bank in Geneva, Switzerland, October 17, 2017. REUTERS/Denis Balibouse/File Photo

April 26, 2019

ZURICH (Reuters) – Shareholders approved Credit Suisse’s 2018 compensation report with an 82 percent majority on Friday, overriding frustrations expressed at its annual general meeting over jumps in executive pay during a year its share price plummeted.

Three shareholder advisers had recommended investors vote against Switzerland’s second-biggest bank’s remuneration report, while a fourth backed the report but expressed reservations about whether management pay matched performance.

The approval marked a slight increase over the 80.8 percent support garnered for the bank’s 2017 compensation report.

(Reporting by Brenna Hughes Neghaiwi; Editing by Michael Shields)

Source: OANN

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FILE PHOTO: Traders work on the trading floor of Barclays Bank at Canary Wharf in London
FILE PHOTO: Traders work on the trading floor of Barclays Bank at Canary Wharf in London, Britain December 7, 2018. REUTERS/Simon Dawson/File Photo

April 26, 2019

By Simon Jessop and Sinead Cruise

LONDON (Reuters) – Activist investor Edward Bramson is likely to fail in his attempt to get a board seat at Barclays’ annual meeting next week, even though shareholders are dissatisfied with performance of the group’s investment bank.

New York-based Bramson’s Sherborne Investors and the board of the British bank have been sparring for months over Barclays’ strategy.

Bramson wants to scale back Barclays’ investment bank to reduce risk and boost shareholder returns. Barclays Chief Executive Jes Staley remains staunchly committed to growing the business out of trouble.

After failing to persuade Staley to change course since he began building a 5.5 percent stake in the bank in March last year, Bramson hopes a board seat will rachet up the pressure.

Both sides have written to shareholders pitching their case and Bramson has courted investors in one-on-one meetings, although none have publicly backed him yet.

Interviews by Reuters with five institutional investors in Barclays suggest Bramson has failed to persuade them.

Sherborne declined to comment.

Mirza Baig, head of investment stewardship at top-40 shareholder Aviva Investors, said Bramson was welcome on the bank’s register but the boardroom was a step too far.

“He has created a lot of value at other businesses, but, generally, when he has come in as executive chair and taken full control. This would be a different case where he would just be one lone voice on the board,” he said.

A second Barclays shareholder said he backed Bramson’s goal of improving returns but via an “evolutionary” approach.

“If you look at banks that have tried to restructure their operations in investment banking – you look at Natwest Markets, Deutsche Bank – I struggle to think of an example where a roughshod restructuring has been accretive to shareholder value.”

A third, top-30 investor said he had been impressed by incoming Chairman Nigel Higgins’ grasp of the challenge in hand, and felt investors would give him time.

“Management know they have to execute and deliver improved returns… [Higgins] will continue to re-shape the board but obviously he didn’t feel that having someone with a diametrically opposed view on it would be helpful.”

A fourth, top-30 investor agreed: “We voted for the chairman to come in and it would be crazy to allow an activist to join the board (at this time).”

Jupiter Fund Management, the 24th largest investor, said it also planned to vote against Bramson.

Barclays has nearly 500 institutional shareholders, Refinitiv data showed.

Since Staley joined Barclays in 2015, the investment bank returns relative to capital invested have increased but are still underperforming the overall business.

Barclays’ first-quarter figures showed the investment bank posted a 6 percent drop in income from its markets business and a 17 percent fall in banking advisory fees.

Returns in the investment bank fell to 9.5 percent from 13.2 percent a year ago.

Famed for successful campaigns against smaller British companies in sectors from chemicals to advertising, Bramson’s board seat pitch has been rebuffed by shareholder advisory firms.

Institutional Shareholder Services, the world’s biggest, said Bramson’s proposal “falls short of what can reasonably be expected from a shareholder trying to address issues at a 28 billion pounds, systemically important bank”.

Glass Lewis also flagged concern about Bramson’s lack of banking experience and “questionable” shareholding structure, referring to Sherborne’s use of derivative contracts to hedge losses should its strategy fail.

Critics said the arrangement meant his interests are not truly aligned with those of other long-term shareholders.

British advisory firm Pirc, however, said it recommended that investors abstain in the vote on Bramson’s proposal as a challenge to the board to do better in the year ahead – or face a similar contest in 2020.

(Editing by Jane Merriman)

Source: OANN

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https://a57.foxnews.com/static.foxnews.com/foxnews.com/content/uploads/2019/04/918/516/02_2.jpg?ve=1&tl=1

After an over 15-month pregnancy, “Akuti,” a 7-year-old Greater One Horned Indian Rhinoceros, gave birth as a result of induced ovulation and artificial insemination at Zoo Miami, April 23, 2019.

Ron Magill/Zoo Miami

https://a57.foxnews.com/static.foxnews.com/foxnews.com/content/uploads/2019/04/918/516/02_2.jpg?ve=1&tl=1

Source: Fox News World

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FILE PHOTO: File photo of a Chevron gas station sign in Del Mar, California
FILE PHOTO: A Chevron gas station sign is seen in Del Mar, California, in this April 25, 2013 file photo. REUTERS/Mike Blake/File Photo

April 26, 2019

(Reuters) – U.S. oil and natural gas producer Chevron Corp reported a 27 percent fall in quarterly earnings on Friday, hit by lower crude prices and weaker margins in its refining and chemicals businesses.

Net income attributable to the company fell to $2.65 billion, or $1.39 per share, for the first quarter ended March 31, from $3.64 billion, or $1.90 per share, a year earlier.

Earlier in the day, larger rival Exxon Mobil Corp reported earnings well below analysts’ estimates, as margins in its refining business were hurt by higher Canadian prices and heavy scheduled maintenance.

(Reporting by Arathy S Nair in Bengaluru; Editing by Saumyadeb Chakrabarty)

Source: OANN

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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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