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Ashley’s Sports Direct drops plan to buy Debenhams

FILE PHOTO: Mike Ashley, founder and majority shareholder of sportswear retailer Sports Direct
FILE PHOTO: FILE PHOTO: Mike Ashley, founder and majority shareholder of sportswear retailer Sports Direct, leads journalists on a factory tour after the company's AGM, at the company's headquarters in Shirebrook, Britain, September 7, 2016. REUTERS/Darren Staples/File Photo

April 9, 2019

(Reuters) – Billionaire Mike Ashley’s Sports Direct said it did not intend to make an offer to buy Debenhams after lenders took control of the ailing retailer on Tuesday.

Sports Direct had until April 22 to make a firm offer for the retailer or walk away under British takeover rules.

Debenhams was locked in a long-running battle for control with its largest shareholder, Ashley’s Sports Direct.

(Reporting by Noor Zainab Hussain in Bengaluru; Editing by Shailesh Kuber)

Source: OANN

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ECB should look past temporary inflation dips: Weidmann

German Bundesbank President Jens Weidmann presents the annual 2018 report in Frankfurt
German Bundesbank President Jens Weidmann presents the annual 2018 report in Frankfurt, Germany, February 27, 2019. REUTERS/Kai Pfaffenbach

February 27, 2019

FRANKFURT (Reuters) – The European Central Bank should look past short term inflation fluctuations caused by oil price shocks or the temporary growth dip the bloc is experiencing, Bundesbank President Jens Weidmann said on Wednesday.

“The ECB Governing Council’s price stability target is medium term, so we should look through these fluctuations,” Weidmann, an outspoken policy hawk, said in a speech.

“It is clear that short-term fluctuations in oil prices — like the sharp decline at the end of 2018 — but also corrections in growth expectations for 2019, could temporarily influence the inflation outlook,” Weidmann added.

(Reporting by Balazs Koranyi; Editing by Catherine Evans)

Source: OANN

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Southern states brace for severe weather; tornado warnings issued

As several Midwestern states are digging out from a spring snowstorm, the South is bracing for weekend thunderstorms that could bring tornadoes.

The National Weather Service said strong winds and hail were expected in the South. Tornadoes are also possible Saturday in parts of Louisiana, Mississippi, Alabama, Arkansas and eastern Texas, and then Sunday in Georgia, according to the forecasts.

"Even a weak tornado that hits the right location can still be pretty devastating," Adam Baker, a weather service forecaster, said.

'BOMB CYCLONE' SNOW, WIND MAKING TRAVEL DANGEROUS IN MIDWEST

The National Weather Service issued a severe weather statement Saturday for the west-central Nacogdoches and southeastern Cherokee counties in Texas. A tornado warning was issued in the counties, saying residents could see quarter-size hail as well.

The National Oceanic and Atmospheric Administration issued several weather watches. The center said the area from east Texas to Mississippi may see strong tornadoes were.

“The most dangerous period for tornadoes being between about 2 to 8 pm. CDT,” the center said.

SPRING SNOWSTORM BURIES MIDWEST, TORNADOES POSSIBLE IN SOUTH

ABC 13 reported a large tornado has been spotted near Hearne, Texas. Hailstones the size of baseballs were spotted in parts of Bexar County, Texas, on Saturday.

On Sunday, the threat for severe storms shifts eastward and stretches from the Ohio River Valley to the Southeast, Fox News meteorologist Brandon Noriega said. On Sunday, thunderstorms were likely to hit Augusta, Ga., where the Masters Tournament is being held, the Weather Channel reported.

CLICK HERE TO GET THE FOX NEWS APP

On Friday, the storm hovering over parts of Minnesota, South Dakota and North Dakota was the second “bomb cyclone” storm system to hit the region in a month. The blizzard was blamed for hundreds of vehicle crashes in Minnesota and left behind 25 inches of snow in northeast South Dakota.

The Associated Press contributed to this report.

Source: Fox News National

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CONCACAF Champions League: Monterrey build big lead on SKC

MLS: Montreal Impact at Sporting Kansas City
Mar 30, 2019; Kansas City, KS, USA; Sporting Kansas City players pose for a photo before the match against the Montreal Impact at Children's Mercy Park. Mandatory Credit: Denny Medley-USA TODAY Sports

April 5, 2019

The lone remaining Major League Soccer team in the CONCACAF Champions League would need a major comeback to reach the finals.

Monterrey routed Sporting Kansas City 5-0 on Thursday in Guadalupe, Mexico, in the first leg of a total-goals semifinal series. The return leg will be played April 11 at Kansas City, Kan.

Dorlan Pabon and Aviles Hurtado scored in the seventh and 14th minutes respectively to give Monterrey a fast start. The game was secured when Jesus Gallardo scored in the 55th minute, Nicolas Sanchez converted a penalty kick in the 70th minute, and Pabon found the net again in the 76th minute.

In the first semifinal matchup Wednesday, host Tigres routed Santos Laguna 3-0 in an all-Liga MX matchup at San Nicolas de los Garza, Mexico. The second leg of that series will be played next Wednesday at Torreon, Mexico.

The two-legged final will be held in late April and early May.

No MLS team has won the competition since the Los Angeles Galaxy were champions in 2000. Mexican clubs have won every title since 2006.

–Field Level Media

Source: OANN

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Dems Must Clean House, Reject Omar's Politics of Division

Dems Must Clean House, Reject Omar's Politics of Division

AP Photo/J. Scott Applewhite

President Trump wasted no time Friday in attacking Democrats for their refusal to condemn Rep. Ilhan Omar, D-Minn., for her anti-Semitic comments when the House passed a resolution condemning a broad range of bigotry.

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Monitor: IS claims to have set up its own Africa province

A group that monitors jihadist websites says the Islamic State extremist group is claiming to have established a province in central Africa.

The SITE Intelligence Group said Thursday that it is the first time that IS has mentioned the so-called Islamic State Central African Province. Its claim came in a statement saying IS fighters killed three Congolese soldiers and wounded five others in an attack in eastern Beni near Congo's border with Uganda.

Congolese President Felix Tshisekedi has recently said that Islamic State poses a threat to his nation and that his government will join the fight against extremists. He has accused the militant group Allied Democratic Forces of allowing the infiltration of extremists.

Eastern Congo is home to myriad rebel groups fighting for control over the mineral-rich land.

Source: Fox News World

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‘I won’ says Ukraine tycoon as court rules PrivatBank nationalization illegal

FILE PHOTO: Women use PrivatBank ATM machines in Kiev, Ukraine
FILE PHOTO: Women use PrivatBank ATM machines in Kiev, Ukraine November 9, 2018. REUTERS/Gleb Garanich/File Photo

April 18, 2019

By Polina Ivanova and Natalia Zinets

KIEV (Reuters) – Ukrainian tycoon Ihor Kolomoisky won a victory on Thursday in his battle with the government over the 2016 nationalization of PrivatBank as a court ruled the change of ownership was illegal.

Kolomoisky, who co-founded PrivatBank, has fought legal battles against the government since the Kiev authorities took over the bank, Ukraine’s largest lender, in December 2016. As he cheered the court’s decision on Thursday, the finance ministry said it would appeal the ruling.

“That means I won. I won the lawsuit,” Kolomoisky said after Reuters told him the news of the court’s decision, which was announced while Reuters was conducting a phone interview with him. “Well, excellent,” he added.

The central bank said it would also appeal the ruling and that it was impossible to reverse the nationalization.

The ruling is a blow to the government, which wrested PrivatBank from Kolomoisky in 2016 and then shored up the lender with billions of dollars. The government wants to recover money it says was siphoned out while Kolomoisky owned it. Kolomoisky denies any wrongdoing and says the bank was forcibly nationalized without proper justification.

The fate of PrivatBank has also loomed over Ukraine’s ongoing presidential election campaign.

Kolomoisky has publicly supported the candidacy of Volodymyr Zelenskiy, the frontrunner to beat the incumbent President Petro Poroshenko at an election run-off this Sunday. Zelenskiy has repeatedly denied that he would endeavor to hand PrivatBank back to Kolomoisky if elected.

Thursday’s ruling could boost Kolomoisky’s chances of winning compensation or retrieving the bank.

PrivatBank was nationalized as part of an clean-up of the banking system backed by the International Monetary Fund, and the authorities have previously warned that any step to reverse the decision could derail Ukraine’s $3.9 billion loan program.

Kolomoisky played down the prospect of the central bank and finance ministry trying to appeal the decision.

“But you understand that the National Bank has no options because they, I know it for sure, did all this unlawfully,” he said. He then suggested the central bank should admit defeat and “submit a confession about how they did everything unlawfully.”

BLOW TO IMAGE

The authorities have spent nearly $6 billion since the nationalization to plug a hole in PrivatBank’s balance sheet, caused by what the government says were fraudulent lending practices and money laundering.

Kolomoisky disputes that assessment of the bank’s health when it was nationalized. The case led to hundreds of lawsuits and the authorities see it as a test of their fight against corruption.

“The court ruling has yet to come into effect and will be appealed by the NBU (National Bank of Ukraine),” Viktor Hryhorchuk, head of litigation at the central bank’s Legal Department, said in a statement.

Lawsuits challenging the nationalization of PrivatBank “deal irreversible damage to Ukraine’s international image,” the central bank said in the same statement.

The IMF was not immediately available for comment. The finance ministry said it had followed the law in nationalizing PrivatBank and said making sure banks met capital requirements “is crucial for ensuring the stability of the banking system and supporting public confidence.”

President Poroshenko had warned this week that any backsliding on PrivatBank would spark a “deep crisis in relations with the IMF. With respective risks for macroeconomic stability, for the exchange rate, it may lead to a new crisis.”

Zelenskiy, a 41-year-old comedian with no prior political experience, has had to fend off accusations from Poroshenko that he is a puppet of Kolomoisky, whose TV channel airs Zelenskiy’s shows.

Zelenskiy insists his relationship with Kolomoisky is strictly professional. In an interview with Reuters in February, Zelenskiy said he would not hand back ownership of PrivatBank to Kolomoisky if he becomes president.

(Reporting by Polina Ivanova, Natalia Zinets and Pavel Polityuk; writing by Matthias Williams; Editing by Susan Fenton)

Source: OANN

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Police secure the area where the body of a woman was discovered near the village of Orounta
Police secure the area where the body of a woman was discovered near the village of Orounta, Cyprus, April 25, 2019. REUTERS/Stefanos Kouratzis

April 26, 2019

NICOSIA (Reuters) – Cypriot police searched on Friday for more victims of a suspected serial killer, in a case which has shocked the Mediterranean island and exposed the authorities to charges of “criminal indifference” because the dead women were foreigners.

The main opposition party, the left-wing AKEL, called for the resignation of Cyprus’s justice minister and police chief.

Police were combing three different locations west of the capital Nicosia for victims of the suspected killer, a 35-year-old army officer who has been in detention for a week.

The bodies of three women, including two thought to be from the Philippines, have been recovered. Police sources said the suspect had indicated the location of the third body, found on Thursday, and had said the person was “either Indian or Nepali”.

Police said they were searching for a further four people, including two children, based on the suspect’s testimony.

“These women came here to earn a living, to help their families. They lived away from their families. And the earth swallowed them, nobody was interested,” AKEL lawmaker Irene Charalambides told Reuters.

“This killer will be judged by the court but the other big question is the criminal indifference shown by the others when the reports first surfaced. I believe, as does my party, that the justice minister and the police chief should resign. They are irrevocably exposed.”

Police have said they will investigate any perceived shortcomings in their handling of the case.

One person who did attempt to alert the authorities over the disappearances, a 70-year-old Cypriot citizen, said his motives were questioned by police.

The bodies of the two Filipino women reported missing in May and August 2018 were found in an abandoned mine shaft this month. Police discovered the body of the third woman at an army firing range about 14 km (9 miles) from the mine shaft.

Police are now searching for the six-year-old daughter of the first victim found, a Romanian mother who disappeared with her eight-year-old child in 2016, and a woman from the Phillipines who vanished in Dec. 2017.

The suspect has not been publicly named, in line with Cypriot legal practice.

A public vigil for the missing was planned later on Friday.

(Reporting By Michele Kambas; Editing by Gareth Jones)

Source: OANN

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An employee looks up at goods at the Miniclipper Logistics warehouse in Leighton Buzzard
FILE PHOTO: An employee looks up at goods at the Miniclipper Logistics warehouse in Leighton Buzzard, Britain December 3, 2018. REUTERS/Simon Dawson

April 26, 2019

LONDON, April 26 – British factories stockpiled raw materials and goods ahead of Brexit at the fastest pace since records began in the 1950s, and they were increasingly downbeat about their prospects, a survey showed on Friday.

The Confederation of British Industry’s (CBI) quarterly survey of the manufacturing industry showed expectations for export orders in the next three months fell to their lowest level since mid-2009, when Britain was reeling from the global financial crisis.

The record pace of stockpiling recorded by the CBI was mirrored by the closely-watched IHS Markit/CIPS purchasing managers’ index published earlier this month.

(Reporting by Andy Bruce, editing by David Milliken)

Source: OANN

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Malaysian Prime Minister Mahathir Mohamad speaks at the opening ceremony for the second Belt and Road Forum in Beijing
Malaysian Prime Minister Mahathir Mohamad speaks at the opening ceremony for the second Belt and Road Forum in Beijing, China April 26, 2019. REUTERS/Florence Lo

April 26, 2019

KUALA LUMPUR (Reuters) – Fewer than half of Malaysians approve of Prime Minister Mahathir Mohamad, an opinion poll showed on Friday, as concerns over rising costs and racial matters plague his administration nearly a year after taking office.

The survey, conducted in March by independent pollster Merdeka Center, showed that only 46 percent of voters surveyed were satisfied with Mahathir, a sharp drop from the 71 percent approval rating he received in August 2018.

Mahathir’s Pakatan Harapan coalition won a stunning election victory in May 2018, ending the previous government’s more than 60-year rule.

But his administration has since been criticized for failing to deliver on promised reforms and protecting the rights of majority ethnic Malay Muslims.

Of 1,204 survey respondents, 46 percent felt that the “country was headed in the wrong direction”, up from 24 percent in August 2018, the Merdeka Center said in a statement. Just 39 percent said they approved of the ruling government.

High living costs remained the top most concern among Malaysians, with just 40 percent satisfied with the government’s management of the economy, the survey showed.

It also showed mixed responses to Pakatan Harapan’s proposed reforms.

Some 69 percent opposed plans to abolish the death penalty, while respondents were sharply divided over proposals to lower the minimum voting age to 18, or to implement a sugar tax.

“In our opinion, the results appear to indicate a public that favors the status quo, and thus requires a robust and coordinated advocacy efforts in order to garner their acceptance of new measures,” Merdeka Center said.

The survey also found 23 percent of Malaysians were concerned over ethnic and religious matters.

Some groups representing Malays have expressed fear that affirmative-action policies favoring them in business, education and housing could be taken away and criticized the appointments of non-Muslims to key government posts.

Last November, the government reversed its pledge to ratify a UN convention against racial discrimination, after a backlash from Malay groups.

Earlier this month, Pakatan Harapan suffered its third successive loss in local elections since taking power, which has been seen as a further sign of waning public support.

Despite the decline, most Malaysians – 67 percent – agreed that Mahathir’s government should be given more time to fulfill its election promises, Merdeka Center said.

This included a majority of Malay voters who were largely more critical of the new administration, it added.

(Reporting by Rozanna Latiff; Editing by Nick Macfie)

Source: OANN

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The German share price index DAX graph at the stock exchange in Frankfurt
The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, April 25, 2019. REUTERS/Staff

April 26, 2019

By Medha Singh and Agamoni Ghosh

(Reuters) – European shares slipped on Friday after losses in heavyweight banks and Glencore outweighed gains in healthcare and auto stocks, while investors remained on the sidelines ahead of U.S. economic data for the first quarter.

The pan-European STOXX 600 index was down 0.1 percent by 0935 GMT, eyeing a modest loss at the end of a holiday-shortened week. Banks-heavy Italian and Spanish indices were laggards.

The banking index fell for a fourth day, at the end of a heavy earnings week for lenders.

Britain’s Royal Bank of Scotland tumbled after posting lower first quarter profit, hurt by intensifying competition and Brexit uncertainty, while its investment bank also registered poor returns.

Weakness in investment banking also dented Deutsche Bank’s quarterly trading revenue and sent its shares lower a day after the German bank abandoned merger talks with smaller rival Commerzbank.

“The current interest rate environment makes it challenging for banks to make proper earnings because of their intermediary function,” said Teeuwe Mevissen, senior market economist eurozone, at Rabobank.

Since the start of April, all country indexes were on pace to rise between 1.8 percent and 3.4 percent, their fourth month of gains, while Germany was strongly outperforming with 6 percent growth.

“For now the current sentiment is very cautious as markets wait for the first estimates of the U.S. GDP growth which could see a surprise,” Mevissen said.

U.S. economic data for the first-quarter is due at 1230 GMT. Growth worries outside the United States resurfaced this week after South Korea’s economy unexpectedly contracted at the start of the year and weak German business sentiment data for April also disappointed.

Among the biggest drags on the benchmark index in Europe were the basic resources sector and the oil and gas sector, weighed down by Britain’s Glencore and France’s Total, respectively.

Glencore dropped after reports that U.S authorities were investigating whether the company and its subsidiaries violated certain provisions of the commodity exchange act.

Energy major Total said its net profit for the first three months of the year fell compared with a year ago due to volatile oil prices and debt costs.

Chip stocks in the region including Siltronic, Ams and STMicroelectronics lost more than 1 percent after Intel Corp reduced its full-year revenue forecast, adding to concerns that an industry-wide slowdown could persist until the end of 2019.

Meanwhile, healthcare, which is also seen as a defensive sector, was a bright spot. It was helped by French drugmaker Sanofi after it returned to growth with higher profits and revenues for the first-quarter.

Luxembourg-based satellite operator SES led media stocks higher after it maintained its full-year outlook on the back of the company’s Networks division.

Automakers in the region rose 0.4 percent, led by Valeo’s 6 percent jump as the French parts maker said its performance would improve in the second half of the year.

Continental AG advanced after it backed its outlook for the year despite reporting a fall in first-quarter earnings.

Renault rose more than 3 percent as it clung to full-year targets and pursues merger talks with its Japanese partner Nissan.

(Reporting by Medha Singh and Agamoni Ghosh in Bengaluru; Editing by Gareth Jones and Elaine Hardcastle)

Source: OANN

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

April 26, 2019

By Jan Wolfe and Richard Cowan

(Reuters) – The “i word” – impeachment – is swirling around the U.S. Congress since the release of Special Counsel Robert Mueller’s redacted Russia report, which painted a picture of lies, threats and confusion in Donald Trump’s White House.

Some Democrats say trying to remove Trump from office would be a waste of time because his fellow Republicans still have majority control of the Senate. Other Democrats argue they have a moral obligation at least to try to impeach, even though Mueller did not charge Trump with conspiring with Russia in the 2016 U.S. election or with obstruction of justice.

Whether or not the Democrats decide to go down this risky path, here is how the impeachment process works.

WHAT ARE GROUNDS FOR IMPEACHMENT?

The U.S. Constitution says the president can be removed from office by Congress for “treason, bribery, or other high crimes and misdemeanors.” Exactly what that means is unclear.

Before he became president in 1974, replacing Republican Richard Nixon who resigned over the Watergate scandal, Gerald Ford said: “An impeachable offense is whatever a majority of the House of Representatives considers it to be at a given moment in history.”

Frank Bowman, a University of Missouri law professor and author of a forthcoming book on the history of impeachment, said Congress could look beyond criminal laws in defining “high crimes and misdemeanors.” Historically, it can encompass corruption and other abuses, including trying to obstruct judicial proceedings.

HOW DOES IMPEACHMENT PLAY OUT?

The term impeachment is often interpreted as simply removing a president from office, but that is not strictly accurate.

Impeachment technically refers to the 435-member House of Representatives approving formal charges against a president.

The House effectively acts as accuser – voting on whether to bring specific charges. An impeachment resolution, known as “articles of impeachment,” is like an indictment in a criminal case. A simple majority vote is needed in the House to impeach.

The Senate then conducts a trial. House members act as the prosecutors, with senators as the jurors. The chief justice of the U.S. Supreme Court presides over the trial. A two-thirds majority vote is required in the 100-member Senate to convict and remove a president from office.

No president has ever been removed from office as a direct result of an impeachment and conviction by Congress.

Nixon quit in 1974 rather than face impeachment. Presidents Andrew Johnson in 1868 and Bill Clinton in 1998 were impeached by the House, but both stayed in office after the Senate acquitted them.

Obstruction of justice was one charge against Clinton, who faced allegations of lying under oath about his relationship with White House intern Monica Lewinsky. Obstruction was also included in the articles of impeachment against Nixon.

CAN THE SUPREME COURT OVERTURN?

No.

Trump said on Twitter on Wednesday that he would ask the Supreme Court to intervene if Democrats tried to impeach him. But America’s founders explicitly rejected making a Senate conviction appealable to the federal judiciary, Bowman said.

“They quite plainly decided this is a political process and it is ultimately a political judgment,” Bowman said.

“So when Trump suggests there is any judicial remedy for impeachment, he is just wrong.”

PROOF OF WRONGDOING?

In a typical criminal court case, jurors are told to convict only if there is “proof beyond a reasonable doubt,” a fairly stringent standard.

Impeachment proceedings are different. The House and Senate “can decide on whatever burden of proof they want,” Bowman said. “There is no agreement on what the burden should be.”

PARTY BREAKDOWN IN CONGRESS?

Right now, there are 235 Democrats, 197 Republicans and three vacancies in the House. As a result, the Democratic majority could vote to impeach Trump without any Republican votes.

In 1998, when Republicans had a House majority, the chamber voted largely along party lines to impeach Clinton, a Democrat.

The Senate now has 53 Republicans, 45 Democrats and two independents who usually vote with Democrats. Conviction and removal of a president would requires 67 votes. So that means for Trump to be impeached, at least 20 Republicans and all the Democrats and independents would have to vote against him.

WHO BECOMES PRESIDENT IF TRUMP IS REMOVED?

A Senate conviction removing Trump from office would elevate Vice President Mike Pence to the presidency to fill out Trump’s term, which ends on Jan. 20, 2021.

(Reporting by Jan Wolfe and Richard Cowan; Editing by Kevin Drawbaugh and Peter Cooney)

Source: OANN

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