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Tesla junk bond spreads widens to a record after big loss

FILE PHOTO: The logo of Tesla is seen in Taipei
FILE PHOTO: The logo of Tesla is seen in Taipei, Taiwan August 11, 2017. REUTERS/Tyrone Siu/File Photo

April 25, 2019

(Reuters) – Investors are demanding a record risk premium for holding Tesla Inc’s $1.8 billion junk bond after the electric car maker posted a $700 million first-quarter loss and signaled it may be in the market for more capital soon.

The price on Tesla’s 5.3% note due August 2025 slipped, nudging its yield to the highest in about six months at 8.51% in European trading.

Its spread, the measure of the premium in yield investors demand for the added risk of holding a bond from Tesla – rated six notches below investment grade by Standard & Poor’s and Moody’s – rather than a safer U.S. Treasury security, widened by 3 basis points to a record 618 basis points.

By comparison, the spread on an average high-yield bond is 373 basis points, according to ICE BAML Index data, and for comparably rated “B-” issuers it is 402 basis points.

(Reporting By Dan Burns)

Source: OANN

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DHS Secretary Nielsen to travel to southern border amid migration crisis

Homeland Security Secretary Kirstjen Nielsen will travel to the southern border this week with plans to visit ports of entry and speak with law enforcement officials before joining President Trump in California on Friday near a section of border wall, DHS officials told Fox News.

Nielsen will travel to El Paso, Texas, on Wednesday to visit a port of entry, border station and be briefed by local officials, before traveling to Yuma, Arizona, on Thursday to meet with DHS leaders from Customs and Border Protection (CBP) and Immigration and Customs Enforcement (ICE) for a roundtable with law enforcement and local officials, as well as representatives from non-governmental organizations.

TRUMP STANDS BY BORDER CLOSURE THREAT, AS AIDES SAY ALL OPTIONS BEING EXPLORED

El Paso has been hard hit by the surge in illegal immigrants coming across the southern border. The Customs and Border Patrol (CBP) sector and facility is currently over capacity by 280 percent, with more than 3,400 migrants in custody, officials say.

On Friday, Nielsen will travel to Calexico in California, where she is scheduled to join Trump in visiting the border wall and participate in a roundtable discussion on the border crisis and “the way forward.”

Trump has declared an emergency at the southern border, and in recent days has mulled closing the border in response to the increase in illegal border crossings -- while calling for Mexico to increase efforts to stop the migration flows across the border.

IT'S A 'CAT 5' IMMIGRATION CRISIS: NIELSEN

"If we don't make a deal with Congress...or if Mexico doesn't do what they should be doing...then we're going to close the border, that's going to be it, or we're going to close large sections of the border, maybe not all of it," he said.

"We're going to have a strong border or we're going to have a closed border," he said. "We're going to see what happens."

CLICK HERE TO GET THE FOX NEWS APP

DHS announced that it is taking a “disaster response” approach to the crisis and that Nielsen has directed agencies to “surge resources and personnel” toward border security and migration management. Nielsen said the administration is treating the immigration crisis as a "Cat 5 hurricane disaster."

“We are bringing all of the agencies together; we're asking everybody to chip in,” Nielsen said on “Tucker Carlson Tonight.”

Source: Fox News Politics

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Duke’s Williamson named AP Player of the Year

FILE PHOTO: NCAA Basketball: NCAA Tournament-East Regional-Virginia Tech vs Duke
FILE PHOTO: Mar 29, 2019; Washington, DC, USA; Duke Blue Devils forward Zion Williamson (1) reacts during the second half against the Virginia Tech Hokies in the semifinals of the east regional of the 2019 NCAA Tournament at Capital One Arena. Mandatory Credit: Geoff Burke-USA TODAY Sports

April 5, 2019

Duke freshman forward Zion Williamson was named the Associated Press Player of the Year on Friday.

He received 59 of the possible 64 votes in winning the award.

Williamson, who was also a unanimous selection to the 2019 college basketball All-America team on Tuesday, averaged 22.6 points, 8.9 rebounds, 2.1 assists and 1.8 blocks per game.

His 68 percent shooting from the field was second nationally.

Williamson is projected as the No. 1 overall pick in the 2019 NBA Draft, though he has yet to officially commit to going pro.

The Blue Devils lost to Michigan State in the Elite Eight, despite being the overall top seed.

–Field Level Media

Source: OANN

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UAE says 7 Emiratis, 2 Egyptians detained by Iran were freed

The United Arab Emirates says seven Emiratis and two Egyptians held by Iran since January after being detained in the Persian Gulf have been freed.

The Emirati Foreign Ministry said in a statement Wednesday the nine were detained while on a fishing trip.

It said those detained were released into the care of the UAE Coast Guard.

Iranian media quoted Emirati media on the release, without elaborating on the case.

Source: Fox News World

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Dog dies after attacking gunman, protecting his family during shooting

A dog is being lauded as a hero by his family for giving his life to save them during a shooting near Houston, Texas.

The labrador, named Zero, jumped to action when a gunman opened fire during a birthday party at the home of Laura Martinez last Sunday night. Martinez and her two children were shot as Zero attacked the shooter. The dog was hit by a bullet during the altercation and later died.

"I honestly believe if Zero had not kept jumping on him, he would’ve been able to get shots higher than our legs," Martinez said, according to Click 2 Houston.

ONE DEAD, THREE INJURED AFTER SHOOTING IN DOWNTOWN SAN FRANCISCO, POLICE SAY

The suspected shooter has now been identified as Javian Castenada, a friend of the family who they believe was involved in a robbery of their home. Police believe he is in hiding and is considered armed and dangerous.

The Martinez family said after the burglary, they confronted Castaneda's parents with their suspicions that he was responsible. A few days later, Canstaneda allegedly arrived at the party and began arguing with the Martinez family, which escalated into gunfire.

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"I’m staring at the whole scene around and it almost feels like a dream," Martinez's daughter Valori Pace said. "I went to go turn to run and I just feel instant pressure in my lower back. Put my hand back there and I realize there was blood all over my hands," she said.

The family is recovering from their gunshot wounds, but mourning the death of their beloved dog, who they've dubbed "Zero the Hero."

Source: Fox News National

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Trump on Immigration: ‘We Have a System That Is Full’

President Donald Trump touted the progress of building more barrier along the United States-Mexico border during a visit to California Friday, saying it's now imperative that the U.S. stop the flow of illegal aliens because "the system is full."

Trump and Homeland Security Secretary Kirstjen Nielsen visited Calexico, California and held a public meeting with officials from the Border Patrol, Immigrations and Customs Enforcement, the military, and others.

Trump said the U.S. immigration system is beyond capacity and more wall needs to continue to be built. So far this year, more than 80 miles of barrier have been installed, with another 97 miles planned by the end of the year.

"The wall has had a tremendous impact," Trump said. "We have a system that is full. It's just full. And I was telling some of the people before, if it's full, there's nothing we can do about it."

Lt. Gen. Todd Semonite, who heads the Army Corps of Engineers, attended the meeting and said there will be around 450 miles of new border barrier put in place by the end of 2020.

Trump reiterated the point several times during the meeting, which was broadcast live, that there is an emergency at the border and something needs to be done.

"This is an absolute emergency. I see that some of our biggest opponents over the last two days have said, you know what? It is an emergency. They can't believe what is happening," Trump said. "Part of it is because of the fact that the country is doing so well. Part of it is a scam. People want to come in. They shouldn't be coming in."

Trump added later that existing immigration laws, including those around the asylum process, need to be fixed.

After calling some of the laws "horrible loopholes," Trump said, "It's bad. Whether it's catch and release or the visa lottery. So many of them. Chain migration. Total disaster. The asylum laws are broken. I inherited this stuff. We're going to get it fixed. We have to.

"I also want to state that there is indeed an emergency on our southern border. It's been loud and clear."

Trump recently threatened to close down the U.S. border with Mexico, which prompted an outcry of pushback from all sides. But he said Friday that over the last four days, Mexico has begun cooperating with its northern neighbor to help squash the flow of migrants coming through its country en route to the U.S.

"They're apprehending people by the thousands and bringing them back to their countries, bringing them back to where they came from," he said.

Source: NewsMax Politics

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Italy: Driver of bus full of children sets it on fire

Italian authorities say a bus driver transporting schoolchildren stopped his vehicle on a provincial highway, told the passengers to get off and then doused the interior with gasoline and set it on fire.

Italian media reported that the driver, an Italian of Senegalese origin, was immediately apprehended. The motive for the arson attack Thursday morning on the outskirts of Milan was unclear.

An official told Sky TG24 that the middle school-age children alerted authorities, aiding a speedy emergency response. Twelve children and two adults were taken the hospital but authorities reported only one injury.

Video showed firefighters dousing the bus that had been completely gutted by flames, leaving only the charred metal frame. ANSA said the bus was carrying about 50 children from the Lombard province of Cremona.

Source: Fox News World

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Multiple people died Thursday when a semitrailer plowed into stationary traffic that resulted in explosions and flames on a Colorado freeway, authorities said.

The incident occurred just before 5 p.m. in the Denver suburb of Lakewood when a truck driver lost control while traveling east on Interstate 70, according to a preliminary investigation. The collision started a chain reaction and a diesel fuel spill, Lakewood police spokesman Ty Countryman told the Denver Post.

“This is looking to be one of the worst accidents we’ve had here in Lakewood,” he said.

The driver of the runaway truck survived. At least one truck was carrying lumber, another was hauling gravel and the third may have been carrying mattresses, KDVR-TV reported.

CLICK HERE TO GET THE FOX NEWS APP

Lakewood police tweeted there were multiple fatalities but did not give a specific number. Six people were taken to a hospital. Their conditions were not released, according to the paper.

Lanes in both directions were closed and expected to remain so into Friday morning.

Source: Fox News National

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President Trump will address members and leaders of the National Rifle Association on Friday at the group’s annual convention in Indiana.

Around 80,000 gun enthusiasts and more than 800 exhibitors are expected to pack the Indiana Convention Center in Indianapolis for the three-day event, the Indianapolis Star reported. It will mark the third straight year that Trump will deliver the keynote address, where he is expected to champion the rights of gun owners.

“Donald Trump is the most enthusiastic supporter of the Second Amendment to occupy the Oval Office in our lifetimes,” Chris Cox, executive director of the NRA’s Institute for Legislative Action (ILA), said in a statement. “President Trump’s Supreme Court appointments ensure that the Second Amendment will be respected for generations to come. Our members are excited to hear him speak and thank him for his support for our Right to Keep and Bear Arms.”

“Donald Trump is the most enthusiastic supporter of the Second Amendment to occupy the Oval Office in our lifetimes.”

— Chris Cox, executive director, NRA’s Institute for Legislative Action

COLORADO ENACTS ‘RED FLAG’ LAW TO SEIZE GUNS FROM THOSE DEEMED DANGEROUS, PROMPTING BACKLASH

President Donald Trump speaks at the National Rifle Association annual convention in Dallas last year. (Associated Press)

President Donald Trump speaks at the National Rifle Association annual convention in Dallas last year. (Associated Press)

Trump and Vice President Mike Pence spoke at last year’s convention in Dallas. During his speech, Trump assured gun owners that he would protect their Second Amendment rights, according to the paper.

“Your Second Amendment rights are under siege,” Trump told the cheering audience in Dallas. “But they will never, ever be under siege as long as I am your president.”

Trump has supported some gun control measures in the past. Last year, his administration imposed a ban on bump stocks, attachments that enable semiautomatic rifles to fire in rapid bursts. Although, he most recently threatened to veto two Democratic gun control bills.

This year’s convention comes as the NRA faces outside pressure and internal problems. The group has seen its legislative agenda stall amid a series of mass shootings — including a massacre at a Parkland, Fla., high school in February 2018 that left 17 dead and launched a youth movement against gun violence.

CLICK HERE TO GET THE FOX NEWS APP

It’s also grappling with infighting in its ranks, money problems and investigations into whether Russian agents courted officials and funneled money through the group.

“I’ve never seen the NRA this vulnerable,” said John Feinblatt, president of Everytown for Gun Safety, a nonprofit that advocates for gun control measure.

The convention will run through the weekend and conclude Sunday.

The Associated Press contributed to this report.

Source: Fox News Politics

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FILE PHOTO: Shoppers walk past the Debenhams department store on Oxford Street in London
FILE PHOTO: Shoppers walk past the Debenhams department store on Oxford Street in London, Britain December 15, 2018. REUTERS/Simon Dawson

April 26, 2019

(Reuters) – Ailing British retailer Debenhams said two proposed company voluntary arrangements (CVA) could see all its stores remaining open during 2019, with 22 closures planned for next year, putting about 1,200 jobs at risk.

Debenhams’ lenders took control of the retailer earlier this month in a process designed to keep its shops open at the expense of shareholders.

(Reporting by Noor Zainab Hussain in Bengaluru; editing by Gopakumar Warrier)

Source: OANN

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FILE PHOTO: Xiaomi branding is seen on a carrier bag at a UK launch event in London
FILE PHOTO: Xiaomi branding is seen on a carrier bag at a UK launch event in London, Britain, November 8, 2018. REUTERS/Toby Melville

April 26, 2019

BENGALURU (Reuters) – Chinese brands controlled a record 66 percent of Indian smartphone market in the first quarter, led by Xiaomi Corp, a report showed, with volumes rising 20 percent on the back of popularity for brands like Vivo, RealMe and Oppo.

Xiaomi’s India shipments fell by 2 percent over last year, but the Beijing-based company was still the biggest smartphone brand in the country, followed by Samsung Electronics Co Ltd, according to Hong-Kong based Counterpoint Research.

Shipment volumes for Vivo jumped 119 percent, while those of Oppo rose 28 percent.

“Vivo’s expanding portfolio in the mid-tier range ($100 to $180) drove its growth along with aggressive Indian Premier League cricket campaign,” Counterpoint analysts said.

India is the world’s fastest growing market for smartphones, where affordable pricing coupled with features like “selfie” cameras and big screens have popularized Chinese brands.

Video streaming services like Netflix Inc and Hotstar, as well as heavy usage of messaging apps like Facebook Inc’s WhatsApp have further spurred demand.

“Data consumption is on the rise and users are upgrading their phones faster as compared to other regions,” Counterpoint’s Tarun Pathak said.

“As a result of this, the premium specs are now diffusing faster into the mid-tier price brands. We estimate this trend to continue leading to a competitive mid-tier segment in coming quarters.”

(Reporting By Arnab Paul in Bengaluru; Editing by Subhranshu Sahu)

Source: OANN

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The Dalai Lama has returned to his headquarters in the north Indian hill town of Dharmsala after a brief stay in a hospital in the capital for treatment of a chest infection.

Hundreds of exiled Tibetans lined the streets of Dharmsala carrying ceremonial scarves and incense sticks to welcome the Dalai Lama on Friday.

The 83-year-old Tibetan spiritual leader told reporters that he had fully recovered, but that the illness had been “a little bit serious.” He did not give any details.

The Dalai Lama usually spends several months a year traveling the world to teach Buddhism and highlight Tibetans’ struggle for greater freedom in China. But he has cut down on his travels in the past year to take care of his health.

Source: Fox News World

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