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German regulator proposes to hike fees Deutsche Telekom can impose on rivals

FILE PHOTO: A man walks past the logo of Deutsche Telekom AG at the headquarters of German telecommunications giant in Bonn
FILE PHOTO: A man walks past the logo of Deutsche Telekom AG at the headquarters of German telecommunications giant in Bonn, Germany, February 19, 2019. REUTERS/Wolfgang Rattay/File Photo

April 10, 2019

BERLIN (Reuters) – Germany’s Federal Network Agency on Wednesday said Deutsche Telekom could raise fees it charges rivals for accessing its “last mile” infrastructure, the last bit of cable connecting customers to the internet.

The agency in a statement said it proposed Deutsche Telekom to increase charges for accessing subscriber lines at the main distributors to 11.19 euros ($12.62) per month from currently 10.02 euros, starting from July 2019.

Former monopoly Deutsche Telekom often owns the last part of telecommunication cables into consumers’ homes, the “last mile”, making rivals reliant on it to offer their own services.

In the end of last year, Telekom leased 5.2 million last mile connections to rivals such as United Internet and Vodafone, less than in previous years.

The hike is due to increasing prices of underground construction and installation works, the agency said, adding that the proposal was valid for three years.

The proposal is not yet binding and subject to the approval of the European Commission, national and EU regulators.

Competitors can also express their views on the price hike.

(Reporting by Riham Alkousaa; Editing by Tassilo Hummel and David Evans)

Source: OANN

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WATCH: Store clerk's machete fends off knife-wielding robbery suspects

Don’t bring a knife to a machete fight.

An Alabama gas station clerk defends himself with a machete when two alleged robbers pull out knives and demand he hand over the cash in the register, shocking surveillance video shows.

The Huntsville Police Department released the footage of the March 16 incident, which took place at a Conoco convenience store at 3:15 a.m.

MAN WEARING UNICORN COSTUME BUSTED FOR ARMED ROBBERY

It shows a man, later identified by authorities as 32-year-old Seth Holcomb, advancing on an unnamed store clerk with a knife, when the clerk pulls out a much larger knife of his own.

The fight begins behind the counter with the two men swinging their blades at each other. They spill out through the front of the store, knocking down shelves, and end up outside, in the gas station’s fill-up area.

A second suspect, a 33-year-old woman later identified as Laney Nicholson, appears near the getaway car as the clerk chases her accomplice out of the store. She allegedly pulls out a knife of her own and begins fighting the clerk.

“During that time, Holcomb has the presence of mind to go back in the store and take the cash drawer out of the register,” Lt. Michael Johnson told North Alabama's WAFF-TV.

The clerk and a second suspect fight outside the store, where the clerk bashed their getaway car so that police could recognize it.

The clerk and a second suspect fight outside the store, where the clerk bashed their getaway car so that police could recognize it. (Huntsville Police Department via Storyful)

While Holcomb is inside getting the cash, the machete-wielding clerk pounds the getaway car, smashing the windshield and other windows. He later told police he wanted to “visibly mark” the car so police could “easily recognize it.”

The suspects were initially able to make their escape, but police arrested them a short time later. The suspects and the clerk were all treated for minor cuts on their hands, AL.com reported.

Seth Holcomb, 32, and Laney Nicholson, 33, were arrested and may face up to life in prison if convicted of first-degree robbery.

Seth Holcomb, 32, and Laney Nicholson, 33, were arrested and may face up to life in prison if convicted of first-degree robbery. (Huntsville Police Department)

Holcomb and Nicholson were both charged with first-degree robbery and criminal mischief on top of individual charges of theft of property and assault, Newsweek reported. Since first-degree robbery is a Class A felony in Alabama, they could face up to life in prison if convicted.

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The clerk will not face charges, Johnson said.

Source: Fox News National

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Portugal goes on alert for wildfires amid heat, low rainfall

Authorities in Portugal have placed the country on high alert for wildfires amid a prolonged dry spell and unseasonably high temperatures.

The government announced a civil protection alert from Wednesday through Sunday because of "a significant worsening of the wildfire risk."

The alert means exceptional measures are being enacted, including more firefighters on standby and a ban on burning cut vegetation.

The move comes after many weeks of almost no rain. A typically dry easterly wind from Spain is also forecast to blow strongly in coming days.

Authorities say the southern Algarve region, where forested hills look down on some of Europe's most popular vacation beaches, is especially at risk.

More than 100 people died in Portuguese wildfires in 2017. None died last year after the government took exceptional measures.

Source: Fox News World

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Mating season brings out aggressive alligators across Florida

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TAMPA, Fla. - With April comes the start of alligator mating season, meaning more gators are on the prowl in some unlikely places in Florida and the rest of the coastal South.

Warmer weather also revs up the prehistoric predators’ metabolism, making them more active and aggressive as they hunt for prey and a mate.

The Florida Fish and Wildlife Conservation Commission (FWC) says over 7,000 nuisance alligators had to be killed or relocated last year, compared to 6,700 in 2017. Although the chances are slim, only 1 in 3.2 million to be exact, six people on average are attacked by the animals every year.

Areas with the highest removal numbers are in and around central Florida. Tampa topped the list in 2017 with 181 nuisance gators but was topped last year by Sarasota, which tallied 205.

Generally, an alligator may be deemed a nuisance if it is at least four feet in length and residents believe it poses a threat to people, pets or property; the FWC says their removal does not have a significant impact on the state's alligator population.

Nuisance gators larger than four feet are usually sold to alligator farms or harvested if a trapper doesn’t have a special permit to take them alive and gators smaller than four feet are released back into the wild.

State alligator trapper Robb Upthegrove measures a nuisance alligator captured in Tampa, Fla.

State alligator trapper Robb Upthegrove measures a nuisance alligator captured in Tampa, Fla. (Fox News)

Once an endangered species, they're now federally protected, meaning only FWC-contracted trappers can retrieve them after residents report sightings using the Nuisance Alligator Hotline at 866-FWC-GATOR (866-392-4286).

Once reported, the state issues a permit for a trapper to remove a suspicious gator.

State alligator trapper Robb Upthegrove has been handling live alligators for over eight years and receives removal calls around the clock.

“This one here came from a residence in Baum, the larger gator came from a Walmart in Wimauma, the smaller gator came from a lake in Auburndale,” he said as he took inventory of his catches from the past 24 hours.

An estimated 1.3 million alligators now roam the waterways in every one of the Sunshine State’s 67 counties.

“Pretty much any body of water that's going to be in Florida, you might come across an alligator at some point,” said Karina Paner, manager of Croc Encounters Reptile Park & Wildlife Center, which houses dozens of alligators reported as a nuisance and rescued by the center. “All the waterways are connected…a lot of the lakes and ponds in neighborhoods are connected through piping, so they travel through that.”

But Paner reminded residents to keep that in perspective.

“They're not really bothering us as much as we're kind of taking over their space,” she added. “They're not coming out to attack us…they're doing what they've always done even before we were here…”

Paner said while many Floridians have learned to coexist, the threat is always there—especially if people feed them.

“…You are teaching the alligator to lose its natural fear of people and then they start approaching people for food,” she said. “That’s when accidents happen.”

In addition to being illegal, Upthegrove says feeding alligators also hurts trappers’ chances of catching them.

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Sarah Maccollum of Brandon has two kids, but no fence between her home and a pond a few yards away.

“…We’re just a little nervous with the gator being out here and the kids being outside all the time,” she told Fox News.

Her neighbor, Porsche Davis, called the Nuisance Alligator Hotline Wednesday to report a nearly six-foot alligator that had repeatedly been seen near the water’s edge. In a community with dozens of small children and animals, she said she didn’t want to take any chances.

“Water equals gator in Florida…so that’s a big concern,” she said.

Fellow Brandon resident Linda Haas’ home is feet away from a pond known to have alligators.

“Gators can climb a fence...I have little dogs under five pounds so it would be just an appetizer for them,” she told Fox.

(The state is encouraging residents to call its Alligator Nuisance Hotline if they're concerned about a gator getting too close.)

Since 1988, there have been 18 fatal attacks on humans involving an alligator in Florida and two since 2016, according to the FWC. The two most recent incidents occurred during mating season.

Last June, an alligator killed a 47-year-old South Florida resident, Shizuka Matsuki, while she walked her dogs near a lake in Davie, Fla.

In June 2016, 2-year-old Lane Graves was dragged into the water and killed by an alligator near the shore of a Disney World resort.

The FWC recommends not swimming during dusk or dawn, an alligator’s most active hours, keeping animals on a leash and away from water and keeping a safe distance away from the animal.

“Enjoy them from a distance because we can enjoy them living in Florida,” said Paner. “We can live amongst them.”

Until the season ends in June, Upthegrove said he and other state trappers will continue responding to reports as quickly as they can to help keep the public safe.

Source: Fox News National

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San Antonio man allegedly pistol-whipped ex for revealing his criminal past to new girlfriend

A Texas man was arrested after allegedly pistol-whipping his ex-girlfriend for informing his new girlfriend about his criminal past.

Kenneth Mann, 26, was taken into custody on Saturday and charged with aggravated assault with a deadly weapon, according to online records from the Bexar County court.

MAN REPEATEDLY STABS CUSTOMER, 63, IN BACK AT CALIFORNIA DOUGHNUT SHOP, VIDEO SHOWS

Mann's ex-girlfriend allegedly told investigators that on Nov. 11, he appeared at her apartment with a handgun after she spoke to his girlfriend about his criminal history, KSAT-TV reported, citing an arrest affidavit.

County records indicate Mann was arrested in October 2015 on suspicion of assault causing bodily injury.

During a discussion about the topic with his ex, Mann reportedly became upset and hit her in the head with his gun.

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The woman claimed that Mann allegedly told her "she owes him for causing problems with his new girlfriend," and followed her into her house — where he then allegedly "took her boyfriend's handgun and an air rifle."

Mann, according to the news station, remains in custody on $57,000 bail.

Source: Fox News National

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Democrats cool toward NAFTA replacement, question labor standards

FILE PHOTO: Rep. Pramila Jayapal (D-WA) speaks at a press conference about a House resolution designed to prevent President Donald Trump from firing Special Counsel Robert Mueller on Capitol Hill in Washington
FILE PHOTO: Rep. Pramila Jayapal (D-WA) speaks at a press conference about a House resolution designed to prevent President Donald Trump from firing Special Counsel Robert Mueller on Capitol Hill in Washington, U.S., July 27, 2017. REUTERS/Aaron P. Bernstein

March 13, 2019

By David Lawder

WASHINGTON (Reuters) – Democrats in the U.S. House of Representatives gave a cool reception to the replacement for the North American Free Trade Agreement on Wednesday as the top U.S. trade negotiator opened a campaign to win broad support for the accord in Congress.

Several Democrats said a closed-door meeting between United States Trade Representative Robert Lighthizer and their caucus failed to ease their concerns about the new U.S.-Mexico-Canada Agreement’s (USMCA) provisions on labor, biologic drugs and some other issues.

A USTR spokeswoman declined to comment on the meeting.

The support of Democrats, who control the House, is considered important to passage of the USMCA, and Wednesday’s meeting at the U.S. Capitol signaled that the Trump administration has a lot of work to do to address the party’s concerns.

Democrats questioned whether new labor standards aimed at ensuring workers have the right to organize can be adequately enforced, as this depends partly on Mexico passing new labor laws.

“What you’re hearing is that a lot of people don’t think it’s good enough,” Representative Pramila Jayapal said of USMCA after the meeting, adding that she was concerned the new pact would not solve the biggest shortcoming of NAFTA, which allowed Mexican wages to stagnate.

“We know that when you don’t have strong enforcement provisions, you are essentially facilitating the outsourcing of jobs and bad worker protections and undercutting of U.S. workers,” said Jayapal.

NAFTA dealt with labor provisions in an unenforceable side-letter, allowing unions in Mexico to remain weak and wages low, drawing factories from the United States and Canada.

While USMCA’s labor chapter is part of the trade agreement itself and requires Mexico to adhere to International Labor Organization standards, Democrats questioned whether this could be adequately enforced through a state-to-state dispute settlement mechanism.

The Mexican government expects its Congress to pass a labor bill by the end of April that it says will strengthen the rights of unionized workers and fulfill its commitments under USMCA.

Mexico “could say they passed the laws, but the laws could be very weak,” said Representative Judy Chu, a Democrat on the House Ways and Means Committee.

She said Lighthizer told Democrats that he believed that Mexico’s labor law would meet the terms of the agreement and that any enforcement issues could be resolved through a subsequent agreement following ratification. Jayapal added that Lighthizer said this could be addressed through implementing legislation.

Some Democrats said that Lighthizer listened closely to their concerns and that he would work to address them.

“He understands the concerns of our caucus and he knows we’re not there yet,” said Representative Bill Pascrell.

Other Democrats raised concerns about the prospect for higher drug prices resulting from the USMCA’s provision for 10 years of data exclusivity for biologic drugs. The United States allows 12 years currently and negotiated a five-year exclusivity period in the Trans-Pacific Partnership trade deal, which President Donald Trump declined to join in 2017.

Representative Rosa DeLauro, a Democrat who opposed several previous trade deals, called this an “absolutely unbelievable giveaway to the pharmaceutical industry.”

House Ways and Means Committee Chairman Richard Neal, whose panel will handle the USMCA legislation, said the meeting did not provide any further clarity on the timing of the Trump administration’s submission of implementing legislation to Congress, or when a vote might occur.

(Reporting by David Lawder; editing by Grant McCool)

Source: OANN

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30 Inches Of Snow! Another Bomb Cyclone “Detonates” Over The Midwest, And The NOAA Is Warning Flooding Could Extend Into July

We aren’t supposed to have a major blizzard in April. 

Less than a month after a “bomb cyclone” caused apocalyptic flooding in the central part of the country, another “bomb cyclone” is hitting the exact same area.  One meteorologist has called it “a life-threatening storm”, and at this moment over four million people are under blizzard warnings.  South Dakota, Minnesota, Nebraska and Kansas are going to get absolutely hammered before the storm finally moves east on Friday.  The authorities are warning that this new “bomb cyclone” will cause additional flooding in the region, but at this point we do not know how bad that flooding will be.

The good news is that the ground has been softened up by warmer weather since the last “bomb cyclone”, and that should mean that more of the moisture is absorbed before it flows into the major rivers.

But the bad news is that we are being told that this storm “could break records”.  The following comes from the Daily Mail

A historic blizzard that could break records for April has hit the Great Plains and Upper Midwest.

Parts of six states were under blizzard warnings on Wednesday, in an area that included Denver; Cheyenne, Wyoming; Scottsbluff, Nebraska; and Pierre, South Dakota.

Early on Wednesday morning, thundersnow was reported in Pierre and surrounding parts of South Dakota, as well as southern Minnesota.

When meteorologists call this a “blizzard”, they aren’t exaggerating one bit.


Mike Adams breaks down how hospital ventilation systems across American and the world are pumping out a deadly superbug, right into the open atmosphere, where winds carry it to local communities and farms, infecting crops and foods with chemical-resistant fungal strains that have a reported 41% – 88% fatality rate in humans.

Some of the snowfall totals that are being forecast seem absolutely crazy.  According to CNN, some parts of the Midwest could actually get more than 30 inches of snow…

The Plains could get more than 2 feet of snow by Friday morning, and South Dakota could be the hardest hit, with more than 30 inches possible. High winds are making travel even more treacherous.

“Travel will be very difficult to impossible” Wednesday evening into Friday morning, a National Weather Service office in Nebraska said, using language nearly mirrored by offices throughout the region.

Needless to say, 30 inches of snow has the potential to cause a tremendous amount of flooding, especially since it is expected to melt very rapidly.

By noon on Wednesday, some portions of South Dakota had already received 18 inches of snow, and authorities in Minnesota had already responded to 213 auto accidents by Wednesday evening.

If you live in the areas affected by this blizzard, please do not go out unless it is absolutely necessary.

In case you are wondering, yes, this is incredibly unusual.

As CNN has noted, it is quite rare for a “bomb cyclone” to form over the middle part of the United States…

This one comes about four weeks after a similarly powerful system dumped heavy snow and rain on some of the same territory, leaving hundreds of millions of dollars in livestock and crop damage in Nebraska alone, largely through flooding.

It’s rare enough to have one form inland, much less two in a month. More typically, bomb cyclones form off the US East Coast in the form of nor’easters.

So the fact that we have now had two in less than a month should tell you that something is up.

As I have repeatedly stressed, our planet is becoming increasingly unstable and global weather patterns are dramatically changing.

What we have seen so far is not the end of the story.  Rather, the truth is that we are only in the early chapters of a cataclysmic shift, and there isn’t anything that anyone can do to stop it.

In recent weeks I have written multiple articles about the historic flooding that we have witnessed so far in the middle of the nation.  The damage that we have seen up to this point has been absolutely unprecedented, and needless to say this new storm is going to make things even worse

The coming storm was expected to exacerbate flooding along the Missouri River in areas where dozens of levees were breached in March, exposing communities to future surges.

The river was not expected to crest in areas of Nebraska, Iowa and Missouri until between three to five days after the storm.

Since the major rivers are not going to crest for several days, it is probably going to be about a week before we really know how much damage this new storm has caused.

And even once we get past the immediate threat posed by this storm, the truth is that this crisis is very far from over.

The National Weather Service has warned us that there will be “above-average precipitation across much of the Lower 48” for the next few months, and the NOAA just told us that flooding “will continue to be an issue along the Missouri and Mississippi rivers into July”.

Into July?

Seriously?

We are watching a great tragedy unfold in our nation’s breadbasket, and we should all be praying for the thousands of farmers in the middle of the country that have been financially ruined by all of this flooding.  Thousands upon thousands of them will not be able to plant crops at all this year, and many of them will end up leaving the profession for good.

This will affect the level of food production in the United States this year, and this comes at a time when other threats to global food production are becoming extremely serious.  To get an idea of what I am talking about, please see my previous article entitled “Hundreds Of Millions Of Pigs Feared Dead From Swine Fever – Price Of Pork Has Risen 38 Percent In The Last 4 Weeks”.

Unfortunately, it appears that the general population does not understand the gravity of the situation that we are facing yet.

Global events are starting to greatly accelerate, and “the perfect storm” is just beginning…

Source: InfoWars

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A worker holds a nozzle to pump petrol into a vehicle at a fuel station in Mumbai
FILE PHOTO: A worker holds a nozzle to pump petrol into a vehicle at a fuel station in Mumbai, India, May 21, 2018. REUTERS/Francis Mascarenhas

April 26, 2019

By Manoj Kumar and Nidhi Verma

NEW DELHI (Reuters) – Surging global oil prices will pose a first big challenge to India’s new government, whoever wins an election now under way, especially as domestic prices have been allowed to lag, meaning consumers are in for a painful surge as they catch up.

For oil-import dependent India, higher global prices could lead to a weaker rupee, higher inflation, the ruling out of interest rate cuts and could further weigh on twin current account and budget deficits, economists warned.

But compounding the future pain, state-run fuel suppliers and retailers have held off passing on to consumers the higher prices during a staggered general election, which began on April 11 and ends on May 23, according to sources familiar with the situation.

That delay is expected to be unwound once the election is over. And there could be additional price increases to make up for losses or profits missed during the period of delayed increases, the sources said.

In some major Asian countries, such as Japan and South Korea, pump prices are adjusted periodically so they move largely in tandem with international crude prices.

That was what was supposed to happen in India but the election means there have been many days when pump prices have been unchanged.

In New Delhi, for example, while crude oil prices have gone up by nearly $9 a barrel, or about 12 percent, in the past six weeks, gasoline prices have only risen by 0.47 rupees a liter, or 0.6 percent.

State-controlled fuel suppliers and retailers declined to say why they had delayed price increases, or discuss whether there has been any pressure from the government of Prime Minister Narendra Modi.

A government spokesman declined to comment.

The opposition Congress party said Modi’s government was violating its own policy of daily price revision by advising the state oil companies to hold prices steady.

“The government should cut fuel taxes otherwise consumers will have to pay much higher oil prices once the elections are over,” said Akhilesh Pratap Singh, a senior leader of the Congress party.

(GRAPHIC: India Polls: Fuel price hike lags crude surge – https://tmsnrt.rs/2XLlxik)

Nitin Goyal, treasurer at the All India Petroleum Dealers Association, representing fuel stations in 25 states, said prices were similarly held down for 19 days in the southern state of Karnataka last year, when it held state assembly elections.

Only for them to surge after the vote.

“Consumers should be ready for a rude shock of a massive jump in retail prices, similar to the level we have seen in the Karnataka state election,” Goyal said.

‘CREDIT NEGATIVE’

Sri Paravaikkarasu, director for Asia oil at Singapore-based consultancy FGE, said retail prices of gasoline and gasoil prices would have been up to 6 percent, or about 4 rupee, higher if they had been allowed to rise in line with global prices.

“Indian pump prices have failed to keep up with the recent uptrend in crude prices,” Paravaikkarasu said.

“With the country’s general elections underway, the incumbent government has been keeping pump prices relatively unchanged.”

India had switched to a daily price revision in June 2017 from a revision every two weeks, as the government allowed retailers to set prices.

But the government faced protests last October when retailers raised prices by up to 10 rupees a liter after the crude oil price went above $80 a barrel, forcing it to cut fuel taxes.

Global prices rose to their highest level in 2019 on Thursday, days after the United States announced all Iran sanction waivers would end by May, pressuring importers including India to stop buying Tehran’s oil. [O/R]

Higher oil prices will mean Asia’s third largest economy is likely to see growth of less than 7 percent rate this fiscal year, economists said. Growth slowed to 6.6 percent in the October-December quarter, the slowest in five quarters.

Rating agency CARE has warned that a 10 percent rise in global oil prices could increase demand for dollars, putting pressure on the rupee and widening the current account deficit.

India’s oil import bill rose by nearly one-third in the fiscal year ending March 31 to $140.5 billion, against $108 billion the previous year.

“The increase in international oil prices is a credit negative for the Indian economy,” ICRA, the Indian arm of the Fitch rating agency, said in a note.

“Every $10/ bbl increase in crude oil prices increases the fiscal deficit by about 0.1 percent of GDP.”

Any big price rise would also build a case for the central bank to keep rates steady, or even raise them.

The Reserve Bank of India’s Monetary Policy Committee, which cut the benchmark policy repo rate by 25 basis points this month, warned that rising oil and food prices could push up inflation.

Policymakers are worried that a sustained increase in the oil price in the range of $70-75/barrel or higher can move the rupee down by 3-4 percent on an annual basis.

The rupee has depreciated by 1.24 percent against the dollar since a year high in mid-March.

($1 = 70.1800 Indian rupees)

(Reporting by Manoj Kumar and Nidhi Verma; Editing by Martin Howell and Rob Birsel)

Source: OANN

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FILE PHOTO: Uber's logo is displayed on a mobile phone in London, Britain
FILE PHOTO: Uber’s logo is displayed on a mobile phone in London, Britain, September 14, 2018. REUTERS/Hannah Mckay/File Photo

April 26, 2019

(Reuters) – Ride-hailing company Uber Technologies Inc unveiled terms for its initial public offering on Friday, telling investors it would seek to sell as much as $10.35 billion in stock at a valuation of up to $91.5 billion.

In a regulatory filing, Uber set a target price range of $44-$50 per share for its IPO. The company will sell 180 million shares in the offering, with a further 27 million sold by insiders.

In the filing, Uber also reported a net loss attributable to the company for the first quarter of 2019 of around $1 billion and revenues of roughly $3 billion.

(Reporting by Joshua Franklin; editing by Patrick Graham)

Source: OANN

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FILE PHOTO: Jet Airways aircraft are seen parked at the Chhatrapati Shivaji Maharaj International Airport in Mumbai
FILE PHOTO: Jet Airways aircraft are seen parked at the Chhatrapati Shivaji Maharaj International Airport in Mumbai, India, April 18, 2019. REUTERS/Francis Mascarenhas/File Photo

April 26, 2019

By Aditi Shah and Abhirup Roy

NEW DELHI/MUMBAI (Reuters) – The grounding of India’s Jet Airways is turning into a quick windfall and long-term opportunity for international airlines keen to scoop up nearly a million outbound passengers from what was once the nation’s biggest airline.

Jet, which previously had a fleet of around 120 largely Boeing Co planes, was forced to indefinitely halt all flight operations on April 17 after its banks rejected the carrier’s plea for emergency funds.

The carrier’s descent into crisis has benefited international airlines in the form of rising fares and demand, data showed.

Fares from India to cities such as Dubai, London, New York, Singapore and Bali in the first quarter of 2019 rose between 4 percent and 32 percent from a year ago, according to Indian travel portal MakeMyTrip Ltd.

In the peak travel months of May and June, fares to London have spiked as much as 36 percent and tickets to San Francisco are up nearly 20 percent from a year ago, according to data from travel portal Yatra.com.

“For the next three months it’s actually bonanza time for international players,” said Ashish Nainan, a research analyst at CARE Ratings. “At least until the middle of June, the fares are not going to come down.”

Due to rising demand, even before Jet’s lessors grounded planes, carriers such as British Airways, Cathay Pacific Airways Ltd, Singapore Airlines Ltd and United Airlines saw an up to a 27 percent increase in passenger numbers from India in the last quarter of 2018, data from India’s aviation regulator showed. That is the latest period for which the data is available.

India is one of the world’s fastest-growing aviation markets, clocking 15-20 percent domestic growth in recent years. It has long had only two full-service long-haul carriers, state-run Air India and Jet.

Jet is now hoping to be bailed out by a new investor, with final bids due on May 10.

INCREASING CAPACITY

Before its grounding, Jet had the biggest share of India’s outbound international air traffic, carrying 12 percent of the 7.8 million passengers headed overseas in the Oct-Dec quarter, down from 14 percent a year earlier, data from the Directorate General of Civil Aviation showed.

For an interactive graphic on Jet’s market share, click https://tmsnrt.rs/2WvDQYi

For an interactive graphic on average daily flights by the airline, click https://tmsnrt.rs/2FeFDel

The total number of passengers traveling overseas with Jet fell 10 percent during the last quarter of 2018 even as the outbound travel market grew about 5 percent.

Meanwhile, Singapore Airlines posted a 27 percent increase in passengers from India, Cathay registered 17 percent growth and British Airways saw a 10 percent rise in the same period.

Cathay said the events at Jet combined with increasing demand for travel had led it to deploy larger aircraft with more seats on some Indian routes.

“In the long term we would certainly like to be able to offer more capacity into India, not just on our existing routes but by establishing new services to secondary cities,” Cathay said in a statement.

Singapore Airlines, in an email to Reuters, said the Indian market is “very promising” but declined to give details of airfare levels or demand patterns in the wake of Jet’s exit, citing a quiet period before the release of its annual results.

DOMESTIC GAINS

Jet’s grounding has also had a big impact on the domestic market, with inter-city air fares to major cities such as New Delhi, Mumbai, Bengaluru and Kolkata soaring more than 20 percent in May and June, according to Yatra.com.

The spike in fares is expected to underpin strong earnings for IndiGo and SpiceJet Ltd, which are set to report results for the quarter ended March 31 in the coming weeks.

“Domestic Indian carriers are the main benefactors, but I suspect if Jet fails to be revived by May 10 then Vistara and other airlines that ply international routes, particularly the lucrative Gulf market, are the main winners,” said Shukor Yusof, the head of aviation consultancy Endau Analytics. Vistara is a joint venture of India’s Tata Sons and Singapore Airlines.

Inadequate bilateral traffic rights between India and other countries, however, could be an impediment to foreign carriers’ hopes of winning business lost by Jet, some analysts said.

“Even before Jet’s operational shutdown, international capacity was significantly constrained,” said Kapil Kaul, CEO for South Asia of consultancy CAPA. “We have now more serious capacity challenge … this is unlikely to be stabilized in the near term.”

A new national government likely to be in place sometime after elections end in May is expected to address the international capacity constraints, and once bilateral agreements are eased airlines including Emirates, Turkish and Qatar would immediately benefit, said Kaul.

“We would love to add more flights but we are at the limit of the allocation granted to us for traffic rights,” Emirates Chief Commercial Officer Thierry Antinori told reporters in Dubai on Wednesday.

(Additional reporting by Alexander Cornwell in Dubai, Jamie Freed in Singapore and Tanvi Mehta in Mumbai; Editing by Muralikumar Anantharaman)

Source: OANN

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FILE PHOTO: The company logo for pharmaceutical company AstraZeneca is displayed on a screen on the floor at the NYSE in New York
FILE PHOTO: The company logo for pharmaceutical company AstraZeneca is displayed on a screen on the floor at the New York Stock Exchange (NYSE) in New York, U.S., April 8, 2019. REUTERS/Brendan McDermid

April 26, 2019

By Pushkala Aripaka and Ankur Banerjee

(Reuters) – AstraZeneca Plc beat first-quarter sales and earnings expectations on Friday as the British drugmaker benefited from a push into cancer drugs and emerging markets including China.

Newer treatments such as lung cancer drug Tagrisso, now the company’s top selling medicine, have helped the drugmaker’s return to growth after years of crumbling sales due to patent losses on older drugs.

Sales in China have shown explosive growth, more than doubling since 2012, but AstraZeneca executives on Friday said that may not be sustained.

“The enormous growth you currently see in China, 28 percent, probably is not sustainable, but we feel very bullish that the growth will continue to be at a pace of between 15 percent and 20 percent,” Ruud Dobber, executive vice president, BioPharma, told Reuters.

Shares of the company were down 0.2 percent at 5,878 pence at 1031 GMT.

The turnaround in AstraZeneca’s fortunes has been powered by a push into cancer treatments led by Chief Executive Pascal Soriot, who saw off a 2014 takeover bid from Pfizer in part by promising annual sales of $45 billion by 2023.

In the first quarter, sales from its oncology unit rose 59 percent to $1.89 billion, accounting for 35 percent of total product sales.

The company has moved deeper into cancer therapy market through wide-ranging deals, including those for immunotherapy and targeted therapy. Last month, it agreed a multi-billion dollar oncology deal with Japan’s Daiichi Sankyo Co Ltd.

Interactive graphic on AZN’s top 10 drugs by sales – https://tmsnrt.rs/2W5XIRX

“We’re reaching that point where after years of having to keep faith, we have actually got something tangible to believe in,” Hargreaves Lansdown analyst Nicholas Hyett said.

AstraZeneca also backed its annual sales and earnings forecast and said it has extensively prepared for UK’s anticipated exit from the European Union, even in the event of a no-deal exit.

The company has already spent more than 40 million pounds ($52 million) on Brexit preparations, including stockpiling six weeks’ worth of drugs in the UK and four weeks in continental Europe to guard against shortages.

AstraZeneca said product sales rose 14 percent at constant currency to $5.47 billion in the quarter, led by its lung cancer drug Tagrisso and respiratory treatment Pulmicort.

Interactive graphic on AZN’s quarterly oncology sales – https://tmsnrt.rs/2W9tbCD

China sales increased by 28 percent to $1.24 billion in the quarter, accounting for nearly a quarter of overall product sales.

Core earnings came in at 89 cents per share in the quarter. Analysts on average were expecting core earnings of 85 cents per share and product sales of $5.29 billion, according to a company provided consensus of 19 analysts.

(Reporting by Pushkala Aripaka and Ankur Banerjee in Bengaluru; Editing by Bernard Orr/Keith Weir)

Source: OANN

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