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Nvidia partners with Softbank to deploy cloud gaming servers in Japan

FILE PHOTO: The SoftBank Group logo displayed at the SoftBank World 2017 conference in Tokyo
FILE PHOTO: The logo of SoftBank Group Corp is displayed at SoftBank World 2017 conference in Tokyo, Japan, July 20, 2017. REUTERS/Issei Kato

March 18, 2019

(Reuters) – Chip designer Nvidia Corp said on Monday it has partnered with Softbank Group Corp and LG Uplus Corp to deploy cloud gaming servers in Japan and Korea later this year.

Nvidia makes graphics chips for PCs and laptops that help video games look more realistic. Now the company is putting those same chips inside servers in data centers so that gamers who do not have an Nvidia chip in their computer can stream games from the data center.

Nvidia said at a conference in San Jose, California, that it has created a “pod” of its graphics cards that can support up to 10,000 gamers streaming games at once.

The company said Softbank and LG Uplus would use the cards for services to let customers stream games over 5G networks, the next generation of wireless data networks.

(Reporting by Stephen Nellis in San Francisco and Munsif Vengattil in Bengaluru; editing by G Crosse)

Source: OANN

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Brazil economy minister confident on one trillion reais pension reform

FILE PHOTO: Brazil's Economy Minister Paulo Guedes gestures during a meeting at Economic Affairs Committee (CAE) of the Brazilian Federal Senate in Brasilia
FILE PHOTO: Brazil's Economy Minister Paulo Guedes gestures during a meeting at Economic Affairs Committee (CAE) of the Brazilian Federal Senate in Brasilia, Brazil March 27, 2019. REUTERS/Ueslei Marcelino/File Photo

April 10, 2019

By Jamie McGeever

(Reuters) – Brazilian Economy Minister Paulo Guedes said on Wednesday he is “optimistic” that Congress will pass a pension reform bill that will generate savings of 1 trillion reais ($261.68 billion) over 10 years, in line with the government’s ambitious proposal.

Guedes is also confident Brazil will exceed its 2019 privatization goal of raising $20 billion from the sale of public assets by as much as 40 percent, he told a conference in New York, without giving any detail on which sectors or assets.

Brazil was expected to return to high growth rates “very soon,” Guedes said, even though growth in the United States and across the rest of the world is slowing.

Key to that is pension reform, the government’s flagship economic policy to slash public spending, restore Brazil’s finances and revive growth, despite increasing signs that the process is running into political quicksand.

Lawmakers know they are “in a corner” and need to cut spending on pensions and change the system to private retirement accounts from the current “pay as you go” framework, he said.

“I’m optimistic, I think Congress will vote with us. They (lawmakers) will cut something here, something there, but I think we will get 1 trillion, which is exactly what we wanted,” Guedes said, referring to the proposed savings over 10 years.

Analysts and investors overwhelmingly say that the final savings generated will likely be below that, with the consensus estimate settling around 600-700 billion reais.

Guedes said that the government’s proposals are widely supported by ordinary Brazilians, although a DataFolha poll on Wednesday showed that 51 percent of Brazilians are against them.

Guedes and President Jair Bolsonaro have been accused of not being fully committed to building the political bridges in Brasilia required to get Congress onside. Guedes’ appearance at a Congressional hearing on pension reform last week descended into angry finger-pointing, shouting, insults and jostling.

The minister’s bullishness on social security reform also extended to other areas of the government’s economic agenda. Privatizations this year will exceed forecasts, taxes are being cut and simplified, and regulations reduced, Guedes said.

Privatization proceeds so far this year have reached $12 billion, more than half the $20 billion forecast, and the government will ramp that up in its four-year term, he said.

“We’re selling everything,” Guedes said, adding that selling everything would cut government debt by $300 billion. “It will be hard to sell everything in four years, but let’s see.”

($1 = 3.8214 reais)

(Reporting by Jamie McGeever; Editing by Jeffrey Benkoe and Grant McCool)

Source: OANN

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VW South Africa targets record production in 2019: official

A logo of a German automaker is seen as a worker services a car at the Volkswagen car dealership in Soweto
A logo of a German automaker is seen as a worker services a car at the Volkswagen car dealership in Soweto, South Africa February 20, 2019. REUTERS/Siphiwe Sibeko

February 20, 2019

JOHANNESBURG (Reuters) – German carmaker Volkswagen’s South African unit expects to produce a record number of vehicles this year despite a sluggish domestic economy, power outages and looming talks with union members, its managing director said.

Volkswagen Group South Africa manufactured 126,463 vehicles in 2018, but expects to ramp up output to 161,900 vehicles this year with 108,000 destined for export, Thomas Schaefer told journalists late on Tuesday.

(Reporting by Emma Rumney and Joe Bavier; editing by Jason Neely)

Source: OANN

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Kim Jong Un fancies caviar, foie gras, lobster, had staff taste food for safety at Vietnam summit, chef says

Kim Jong Un loves luxury cuisine but would have his North Korean staff taste dishes as a safety precaution during the Vietnam summit with President Trump, the executive chef at Sofitel Legend Metropole Hotel in Hanoi said.

Chef Paul Smart opened up about serving the North Korean despot and President Trump during the leaders' second summit in Vietnam, telling state-run China News Weekly on Sunday that both leaders brought their own kitchen staff to Hanoi, South China Morning Post reported.

Kim and Trump traveled to Vietnam for their second summit on Feb. 27 that was unexpectedly cut short the next day after talks over denuclearization collapsed.

Australian chef Paul Smart inside the Metropole Hotel's kitchen in Hanoi.

Australian chef Paul Smart inside the Metropole Hotel's kitchen in Hanoi. (Getty Images)

Smart said the North Korean staff members were “mysterious, but very professional” and brought their own ingredients — which included Wagyu beef, kimchi, foie gras, ginseng and persimmon punch — for the meals.

PRESIDENT TRUMP, KIM JONG UN DINED ON PEAR KIMCHI, CHOCOLATE LAVA CAKE AT 'SOCIAL DINNER'

They also hinted that Kim enjoyed other delicacies such as caviar and lobster.

“He really likes to dine and experience cuisine for what it is,” Smart said of Kim.

During the summit, Smart prepared the “social dinner” between Trump, Kim and other officials at the Sofitel Legend Metropole. The menu that Smart created included grilled sirloin with pear kimchi, chocolate lava cake and dried persimmon punch. Smart told China News Weekly he debated on placing Vietnamese flavors in the dishes, but opted to keep it more Western cuisine to after “careful consideration.”

“I tried to keep the taste neutral and make delicious, simple foods that suited both tastes,” the chef said.

Kim Jong Un and President Trump during the "social dinner" on Feb. 27.

Kim Jong Un and President Trump during the "social dinner" on Feb. 27. (AP)

Smart previously told the AFP News Agency that Trump asked for his steak well done, but Kim preferred it rarer.

“President Trump wanted his steak well done, but Kim preferred his steak medium-rare to rare, very rare,” Smart said.

NORTH KOREA AIRS DOCUMENTARY GLORIFYING KIM-TRUMP SUMMIT -- BUT FAILS TO MENTION TALKS COLLAPSED

About an hour before the dinner, Kim’s staff would taste each dish to make sure the food was safe to eat, according to the chef.

Smart was expected to serve foie gras and snow fish at lunch on Feb. 28 before it was canceled when negotiation talks were cut short, South China Morning Post reported. He told China News Weekly he was disappointed the meal didn’t happen, but noted the American and North Korean chefs had “very pleasant cooperation. It went well.”

CLICK HERE TO GET THE FOX NEWS APP

Kim has been previously rumored to have a sophisticated palate. He reportedly tried to send three North Koreans to France to learn how to make Emmental, one of his favorite type of cheese, in 2014.

A North Korean defector also claimed in 2017 that Kim would indulge in $2,700 “bird’s nest soup,” caviar and other imported dishes despite the country’s food shortage due to poverty and sanctions.

Source: Fox News World

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BOJ’s Harada says QQE has helped boost productivity

Newly-appointed Bank of Japan board member Harada leaves a news conference at the BOJ headquarters in Tokyo
Newly-appointed Bank of Japan (BOJ) board member Yutaka Harada leaves a news conference at the BOJ headquarters in Tokyo March 26, 2015. REUTERS/Yuya Shino

March 25, 2019

TOKYO (Reuters) – Bank of Japan board member Yutaka Harada on Monday defended the central bank’s massive asset-buying program dubbed quantitative and qualitative easing (QQE), saying the policy has helped create jobs and boost productivity.

“The biggest contribution QQE has made to Japan’s economy was to boost its productivity,” Harada said in a speech at a seminar.

“Without QQE, Japan’s jobless rate would not have fallen below 2.5 percent,” said Harada, known as a vocal advocate of aggressive monetary easing on the nine-member BOJ board.

(Reporting by Leika Kihara; Editing by Chris Gallagher)

Source: OANN

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Mosque victims’ names read out to silent crowd at New Zealand memorial

National remembrance service for victims of the mosque attacks in Christchurch
People attend the national remembrance service for victims of the mosque attacks, at Hagley Park in Christchurch, New Zealand March 29, 2019. REUTERS/Jorge Silva

March 28, 2019

By Charlotte Greenfield

CHRISTCHURCH, New Zealand (Reuters) – Thousands stood in silence in a Christchurch park on Friday as the names of 50 people shot dead in two mosques were read out at a national memorial service, with speakers calling for the legacy of the tragedy to be a kinder, more tolerant New Zealand.

Dozens of representatives of governments from around the world joined New Zealand Prime Minister Jacinda Ardern at the remembrance service in Hagley Park, near the Al Noor mosque where more than 40 of the victims were killed by a suspected white supremacist during Friday prayers on March 15.

“Our challenge now is to make the very best of us a daily reality. Because we are not immune to the viruses of hate, of

fear, of other. We never have been,” said Ardern, whose handling of the tragedy has won global praise.

“But we can be the nation that discovers the cure. And so to each of us as we go from here, we have work to do,” she said.

Ardern, who wore a Maori cloak known as a kakahu during the service, said the world had to end the vicious cycle of extremism and that it needed a global effort.

“The answer to them lies in a simple concept that is not bound by domestic borders, that isn’t based on ethnicity, power-base or even forms of governance. The answer lies in our humanity,” she said.

Security was tight around the service and New Zealand remains on high security alert. Police Commissioner Mike Bush said it was one of the largest security events ever conducted by the police.

‘A BEAUTIFUL GARDEN’

Farid Ahmed, whose wife Husna was one of the 50 killed, told the crowd that, as a man of faith, he had forgiven his wife’s killer because he did not want to have “a heart that is boiling like a volcano”.

“I want a heart that will be full of love and care and full of mercy and will forgive easily, because this heart doesn’t want any more lives to be lost,” he said to applause.

He called for people to work together for peace and to change attitudes to see everyone as part of one family, using Christchurch’s nickname of the Garden City to make his point.

“I may be from one culture, you may come from another culture, I may have one faith, you may have one faith, but together we are a beautiful garden,” Ahmed said.

Performers during the ceremony included Yusuf Islam, also known as Cat Stevens, who performed his song “Peace Train”.

“We will get through this time and emerge a kinder, more compassionate place,” Christchurch mayor Lianne Dalziel said.

People needed to ask hard questions about what they may have done to harbor racism “because we now know where this ends”, she said.

The massacre in Christchurch was carried out by a lone gunman at two mosques. Australian Brenton Tarrant, 28, a suspected white supremacist, has been charged with one count of murder and is likely to face more charges when he reappears in court next Friday.

(Reporting by Charlotte Greenfield; Writing by John Mair; Editing by Paul Tait)

Source: OANN

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Nicaragua’s Bancorp asks to cease operations after U.S. sanctions

A woman walks past a building of Bancorp (Banco Corporativo S.A) in Managua
FILE PHOTO: A woman walks past a building of Bancorp (Banco Corporativo S.A) in Managua, Nicaragua March 7, 2019. REUTERS/Oswaldo Rivas

April 25, 2019

MANAGUA (Reuters) – Nicaraguan bank Bancorp has requested permission from the country’s banking regulator to cease operations after the United States imposed sanctions on the firm, according to a letter seen by Reuters on Wednesday.

Bancorp submitted a request to Nicaragua’s banking and financial regulator for “early voluntary dissolution.”

“Our bank is unable to continue doing business due to the sanction,” said the letter dated April 22 and signed by Luis Barcenas, Bancorp’s legal representative.

U.S. national security adviser John Bolton last week called Bancorp a “slush fund” for Nicaraguan President Daniel Ortega and announced sanctions on the bank as well as and the president’s son Laureano Ortega, for what he described as “vast corruption.”

Washington has previously sanctioned President Ortega’s wife and Nicaraguan Vice President Rosario Murillo.

Bancorp was created in 2015 as a subsidiary of Alba de Nicaragua, known as Albanisa. The company is a joint venture of Venezuela state oil firm PDVSA and Nicaragua’s own state-run Petroleos de Nicaragua.

Nicaraguan lawmakers in March voted to approve a government purchase of Bancorp for $23 million.

The banking regulator confirmed it received Bancorp’s request to dissolve, but did not clarify whether the government acquisition had been finalized.

(Reporting by Ismael Lopez, Writing by Daina Beth Solomon, editing by G Crosse)

Source: OANN

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Britain's Chancellor of the Exchequer Philip Hammond looks on during an interview with Reuters at the British Ambassador's residence in Beijing
Britain’s Chancellor of the Exchequer Philip Hammond looks on during an interview with Reuters at the British Ambassador’s residence in Beijing, China April 26, 2019. REUTERS/Florence Lo/Pool

April 26, 2019

BEIJING (Reuters) – British finance minister Philip Hammond said on Friday that he had a “very constructive meeting” with his counterpart in the opposition Labour Party before leaving for Beijing and that he was optimistic about finding common ground.

Hammond, speaking on the sidelines of a summit on China’s Belt and Road initiative in Beijing, said talks with Labour aimed at finding a way forward on Brexit had not stalled.

“I’m optimistic that we will find common ground,” he said. “Both sides have got clear positions and both sides will have to compromise in order to reach an agreement.”

Hammond added that he absolutely did not favor a no deal exit from the European Union.

(Reporting by Ben Blanchard; editing by Darren Schuettler)

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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)

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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)

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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)

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