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BOJ Kuroda: Inflation pick-up must be accompanied by wage hikes

FILE PHOTO: BOJ Governor Kuroda attends a news conference in Tokyo
FILE PHOTO: Bank of Japan (BOJ) Governor Haruhiko Kuroda attends a news conference at the BOJ headquarters in Tokyo, Japan December 20, 2018. Mandatory credit Kyodo/via REUTERS

April 10, 2019

TOKYO (Reuters) – Bank of Japan Governor Haruhiko Kuroda said on Wednesday the central bank was seeking to create a condition in which any acceleration in inflation is accompanied by rises in corporate profits and wages.

“The BOJ isn’t seeking to push up inflation alone. We want to create a situation where wage and employment conditions improve too … and a positive economic cycle is created,” Kuroda told parliament.

Finance Minister Taro Aso told the same parliament committee meeting that pushing up inflation alone “won’t do any good,” as people’s livelihoods would not improve without increases in capital expenditure and wages.

(Reporting by Leika Kihara; Editing by Chang-Ran Kim)

Source: OANN

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Trump meets with Vietnam’s president ahead of Hanoi summit with North Korea’s Kim

President Trump paid a courtesy call Wednesday to the leaders of Vietnam, the nation hosting this week’s summit between Trump and North Korean leader Kim Jong Un.

During the visit, Trump and Vietnamese President Nguyen Phu Trong presided over the signings of several commercial trade deals affecting the airline industries of their two countries.

SOUTH KOREA HOPES TRUMP-KIM SUMMIT IN VIETNAM USHERS NEW ERA OF PEACE

U.S. aircraft manufacturer Boeing signed agreements with VietJet for 100 737 MAX planes and with Bamboo Airways for 10 787 Dreamliners as the two leaders looked on Wednesday.

U.S.-based aviation technology company Sabre also inked a deal with Vietnam Airlines.

The White House did not immediately provide details on the agreements.

Trump, who arrived in Hanoi on Tuesday, said he hoped for “great things” from his second meeting with Kim. The president is scheduled to meet with Kim later Wednesday in Hanoi for a second round of nuclear talks.

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The U.S. is attempting to achieve denuclearization on the Korean Peninsula following a series of missile tests by North Korea that have worried its immediate regional neighbors, such as China and Japan, and raised concerns that Pyongyang was developing weapons that could reach deep into the U.S. mainland.

The two heads of state previously met in Singapore last June.

The Associated Press contributed to this story.

Source: Fox News World

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2020 Dems take aim at filibuster, say Senate tradition should 'go the way of history'

Add Beto O’Rourke to a growing list of Democratic presidential candidates who are considering scrapping long-standing Senate procedure in hopes of passing a sweeping progressive agenda should they make it to the White House.

Under siege is the filibuster, the longstanding Senate tradition requiring 60 votes in the 100-member chamber to advance a bill, effectively allowing the minority party to block legislation.

WHAT IS A FILIBUSTER?

“I think that that’s something that we should seriously consider,” O’Rourke told reporters on the campaign trail in New Hampshire earlier this week.

“We have to look at some of these institutional reforms, whether it’s the Supreme Court, the Electoral College, the filibuster in the Senate, we’ve got to get democracy and our institutions working again,” explained the former three-term congressman from Texas.

On the same day that O’Rourke entertained the idea, a rival for the Democratic nomination also opened the door to the idea of dispatching with the filibuster.

“When you talk about changing the filibuster rule I understand that we are heading, right now, we are heading that way,” Sen. Cory Booker of New Jersey said in an interview on "Pod Save America." “I’m going to tell you that for me that door is not closed.”

The comments mark an increasing appetite in the 2020 Democratic field for challenging longstanding political traditions and institutions -- everything from the voting age to the Electoral College to the Senate filibuster. And for Booker, his comments mark a backtrack from previous statements.

Last month, Booker told NPR that he didn’t favor eliminating the filibuster. And in an interview with Politico in January – before he formally declared his candidacy – he said “we should not be doing anything to mess with the strength of the filibuster. It’s one of the distinguishing factors of this body. And I think it is good to have the power of the filibuster.”

The pro-Republican opposition research shop America Rising accused the senator of flip-flopping on the issue, saying in an email after the senator’s latest comments that “Booker has jumped on board with the latest liberal litmus test, abolishing the filibuster.”

TRUMP CALLS FOR SCRAPPING FILIBUSTER TO BUILD WALL

At the moment, the filibuster is actually helping the Democratic Party, enabling its members to slow or stall legislation that the GOP Senate majority and Trump White House might support. Trump himself has called for an end to the filibuster, only to be met with opposition from Senate Majority Leader Mitch McConnell.

But McConnell lowered the threshold to confirm Supreme Court nominees to a simple majority, and other federal judges and Cabinet nominees also are no longer subject to a 60-vote threshold. The filibuster on legislation is all that remains in terms of built-in brakes in the upper chamber that could slow the majority party.

And so Democrats hoping to pass a sweeping progressive agenda if they win back the White House are concerned their proposals could get bottlenecked in the Senate, where the Democrats have a shot at winning back control -- but have little chance of grabbing a 60-member, filibuster-proof majority.

“Everything stays on the table. You keep it all on the table. Don’t take anything off the table,” Sen. Elizabeth Warren said when recently asked on the presidential campaign trail about scrapping the filibuster.

Candidates proposing major changes to deal with climate change also see the filibuster as a major impediment.

"I don't believe you can be serious about saying you can defeat climate change unless you realize we need to have the filibuster go the way of history because Mitch McConnell has weaponized the filibuster," Washington State Gov. Jay Inslee told reporters on Wednesday. "You can't be serious about having major decarbonization legislation in any near-term without removing the filibuster."

But not all of the White House contenders are on board.

“Great question…Let’s change the subject!” joked Sen. Kamala Harris of California, when asked by a voter in Iowa about her stance on the issue.

The Harris campaign tells Fox News that their candidate has “said she's genuinely conflicted on this issue but everything is on the table.”

Sen. Kirsten Gillibrand of New York told "Pod Save America" in January that “I think it’s useful to bring people together, and I don’t mind that you have to get 60 votes for cloture.”

“If you’re not able to get 60 votes on something, it just means you haven’t worked hard enough, talking to enough people and trying to listen to their concerns and then coming up with a solution that they can support. And so I’m not afraid of it one way or the other,” she added.

Sen. Bernie Sanders also opposes scrapping the filibuster.

"I'm not crazy about getting rid of the filibuster. I think the problem is, people often talk about the lack of comity and the anger. The real issue is that you have in Washington a system which is dominated in Washington by wealthy campaign contributors,” he said last month in an interview with CBS News.

Source: Fox News Politics

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Trump Won’t Reintroduce Obama’s Border Separations

President DonaldTrump said Tuesday he is not going to reintroduce the policy of family separations at the border — and blamed his predecessor for starting the practice.

"We are not looking to do that, no," Trump told reporters in the Oval Office, the Washington Examiner reported.

But he noted it was an effective deterrent, declaring, "When you don't do it, it brings a lot more people to the border," the Examiner reported.

The president reportedly has been pushing his administration to crack down on migrant families despite issuing an executive order in June ending the policy. According to NBC News, Homeland Security Secretary Kirstjen Nielsen's resignation was partly fueled by her resistance to implementing a large-scale family separation policy.

In his Oval Office remarks, Trump asserted President Barack Obama started the family separation policy in the first place. 

"Obama separated the children, by the way," Trump said, the Examiner reported. "Just so you understand. President Obama separated the children. Those cages that were shown — I think they were very inappropriate. They were built by President Obama's administration, not by Trump."

He added he was the one who "changed the law," the Examiner reported.

Source: NewsMax Politics

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Mexican Navy: 1 injured in clash near vaquita reserve

Mexico's president said Friday he regrets a confrontation between fishermen and marines trying to prevent the illegal fishing that has driven the vaquita porpoise to the brink of extinction.

The Mexican Navy said at least one fisherman was shot when a marine's rifle accidentally discharged, and fishermen say two more people were slightly wounded in subsequent protests on Thursday.

It was the highest casualty toll yet in a long-running confrontation between environmentalists and fishermen angry over lapsed government support payments that were meant to compensate them for income they lost because of a total ban on gill nets.

"Yesterday there was unfortunately a confrontation, I very much regret it," President Andres Manuel Lopez Obrador said, adding that he has been discussing the situation in the Gulf of California for several days with top officials.

Fishermen in the community of San Felipe set illegal nets to catch Totoaba fish, whose swim bladder is considered a delicacy in China. The nets also drown vaquitas, a small porpoise that lives only in the Gulf — also known as the Sea of Cortes — of which perhaps as few as 10 remain.

The only force effectively protecting the vaquita are two boats operated by the environmentalist organization Sea Shepherd, which go out daily to haul in illegal nets.

Because the nets coast about $3,000 apiece, in recent months the fishermen have launched increasingly violent attacks on the larger Sea Shepherd vessels, to try to run them off or take back seized nets.

Because Mexico's Navy has tried to avoid confrontations, the fishermen have become increasingly bold.

That set the stage for Thursday's clash, which basically started as a chase when an illegal fishing boat tried to grab its nets back from the Sea Shepherd vessel "Sharpie."

The Sharpie "was attacked by a boat that was trying to recover illegal nets," the Navy said in a statement. "After taking back their nets, the boat fled back to San Felipe, Baja California."

A Navy boat and land patrol truck pursued the small open fishing boat. Because area's shores are often broad, flat and shallow, illegal boats often motor up to waiting boat cradles towed by pickup trucks that drive onto shore to pick them up and flee.

This time, however, "Marines carried out vehicle maneuvers to try to capture the boat and detain the culprits. But during these maneuvers the Navy vehicle was hit." Photos from the scene showed the pickup towing the boat had hit the back of the Navy patrol truck. A melee ensued as shouting fishermen surrounded and confronted the marines.

"The presumed culprits put up resistance and scuffled with Navy personnel, with the unfortunate result that a firearm accidentally discharged, wounding one person," The Navy said. "This drew a larger group that attacked the Navy personnel, who withdrew to avoid a confrontation."

Sunshine Rodriguez, a leader of the fishermen in San Felipe, said the wounded fishermen was in serious condition at a hospital. He said two other local residents were slightly wounded by gunfire when residents confronted marines at a subsequent protest. Rodriguez said both of the wounded had been treated and released for non-life-threatening injuries.

Rodriguez acknowledged that starting on March 23, fishermen had decided to violate a total ban on gillnet fishing in the area, in part because the government had stopped making compensations payments in November, before Lopez Obrador took office Dec. 1.

"This was a time bomb that was set up by the previous administration," Rodriguez said. "They know that we don't have the means to survive more than three months without payment."

Rodriguez said fishermen want net-fishing re-opened in the 80 percent of the vaquita's habitat, where the porpoise has been sighted in years. He called on the government to hire the remaining fishing boats to carry out permanent patrols in the remaining 20 percent of the reserve where the last few vaquitas have apparently gathered.

Experts say that gill nets have to be permanently banned in the area if there is any hope for the vaquita and the totoaba — itself an endangered fish — are to survive.

Source: Fox News World

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Report: O'Rourke May Be Leaning Toward Presidential Run

Former Democratic Rep. Beto O’Rourke, D-Texas, appears to be leaning toward making a run for the White House in 2020, Dallas News is reporting.

O’Rourke has been deciding whether to run in the Democratic primaries or challenge Republican Sen. John Cornyn.

Noting his recent comments and out-of-state trips, the website said O’Rourke appears to be aiming at the White House rather than Cornyn. But he is still remaining coy about his intentions.

"I'm trying to figure out how I can best serve this country, where I can do the greatest good for the United States of America, so yeah, I’m thinking through that, and it, you know, may involve running for the presidency, it may involve something else," O'Rourke was quoted by The Texas Tribune while accepting the El Pasoan of the Year award on Tuesday.

But the Dallas News noted he recently made a speaking engagement in Illinois and at the University of Wisconsin. And he also spoke at a Milwaukee college. The website pointed out Wisconsin is a presidential battleground President Donald Trump won in 2016.

O’Rourke narrowly lost to incumbent Sen. Ted Cruz, R-Texas in November. During the campaign he referred to Cruz as an absentee senator, who was not fulfilling his duties to Texas, according to Dallas News.

But, the website said he does not feel the same way about Cornyn, who he has worked with in the past.

O’Rourke met with former President Barack Obama back in November, but has insisted he still has not made up his mind whether to make a run for the White House.

Source: NewsMax Politics

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The Collusion Fraud Frame-Up Was a Crime

No reader of my previous comments on the subject would expect surprise from me about the verdict of the Mueller report. No one nominated by a major political party to the presidency of the United States would have dreamed of cooperating with any

Read Full Article »

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The headquarters of Wirecard AG is seen in Aschheim near Munich
FILE PHOTO: The headquarters of Wirecard AG, an independent provider of outsourcing and white label solutions for electronic payment transactions is seen in Aschheim near Munich, Germany April 25, 2019. REUTERS/Michael Dalder

April 26, 2019

BERLIN (Reuters) – Wulf Matthias will not stand for a second term as Wirecard’s chairman in 2020, German daily Handelsblatt said on Friday, citing sources in the financial industry.

For age reasons alone this would not be an option for Matthias, aged 75, Handelsblatt added.

Matthias will keep his mandate until it ends in 2020, the paper quoted a company spokeswoman as saying.

Wirecard was not immediately available for comment when contacted by Reuters.

(Reporting by Tassilo Hummel; Editing by Thomas Seythal)

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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