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Daimler first-quarter weighed by China slowdown

FILE PHOTO: An illuminated logo of Mercedes is seen on the Mercedes-Benz F105 at an exhibition before the Daimler annual shareholder meeting in Berlin
FILE PHOTO: An illuminated logo of Mercedes is seen on the Mercedes-Benz F105 at an exhibition before the Daimler annual shareholder meeting in Berlin, Germany, April 5, 2018. REUTERS/Hannibal Hanschke

April 26, 2019

FRANKFURT (Reuters) – Daimler said its first-quarter operating profit fell 16 percent, weighed down by a 4 percent drop in sales of Mercedes-Benz cars, higher raw material costs and investments into its Trucks division.

Earnings before interest and tax (EBIT) dropped to 2.80 billion euros in the first quarter, falling behind analyst expectations of 2.89 billion euros.

Daimler said the return on sales at Mercedes-Benz cars fell to 6.1 percent, down from 9 percent a year earlier, due to a 3 percent fall in China sales and higher growth in lower-margin compact vehicles.

Daimler reiterated it expected a slight growth in unit sales, revenue and EBIT this year.

(Reporting by Edward Taylor; Editing by Tassilo Hummel)

Source: OANN

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Rep. Meadows: Subpoena Vote About 2020, Not Transparency

The House Judiciary Committee's vote approving subpoenas for the unredacted version of special counsel Robert Mueller's full Russia report was not about transparency, but about the 2020 election, Rep. Mark Meadows said Wednesday.

"It's all political theater and nothing to do with really getting to the truth," the North Carolina Republican told Fox News' "America's Newsroom." "I've been in the room with [Judiciary] Chairman [Jerrold] Nadler looking at truly trying to let the American people see what happened with this investigation, and he has been the one that has objected over and over and over again."

Instead, Meadows said, the action was about trying to disparage President Donald Trump when Attorney General William Barr is "working with warp speed to get information to the American people…it is a sad day for Congress and I would say it's a sad day for the American people."

Meadows also slammed House Intelligence Committee Chairman Adam Schiff, D-Calif., for his comments earlier Wednesday that even though Mueller couldn't prove beyond a reasonable doubt that there had been the crime of conspiracy between Russia and the 2016 Trump campaign, there was "plenty of evidence of collusion."

"For two years he has told the American people that this was all about collusion and conspiracy," Meadows said of Schiff. "Now he is trying to change the definition because his handpicked special prosecutor said there was no collusion, no conspiracy."

Meadows also disagreed with contentions from Nadler that the law allows Barr the authority over what to release and what to keep private, as the law does not support releasing grand jury information.

Source: NewsMax Politics

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The Latest: IS suspects in killing of 4 Americans captured

The Latest on developments in Syria (all times local):

2:40 p.m.

A spokesman for U.S.-backed forces fighting the Islamic State group in Syria says they have captured a group of suspects involved in a January bombing that killed four Americans in a town in northern Syria.

Mustafa Bali says the suspects were captured following technical surveillance by the group known as the Syrian Democratic Forces. He did not elaborate on the number of suspects or when they were captured.

The Americans were killed in a suicide bombing in January in the town of Manbij that was claimed by IS.

In a statement posted on Twitter on Tuesday, he said the outcome of the ongoing investigation will be shared at a later time.

Bali's statement came few hours after the SDF said it had captured an IS encampment in the eastern village of Baghouz after IS militants surrendered.

___

11:35 a.m.

A spokesman for U.S.-backed forces fighting the Islamic State group in Syria says his fighters are in control of an encampment in the village of Baghouz where IS militants have been besieged for months.

Mustafa Bali, of the Kurdish-led force known as the Syrian Democratic Forces, says clashes however are continuing elsewhere in the village in eastern Syria as IS militants continue to fight back.

Bali says on Twitter on Tuesday that controlling the encampment in Baghouz marks "significant progress" in the fight but that it's "not a victory announcement."

The area held by IS in Baghouz is the last pocket of territory in Syria controlled by the extremist group, which once held a vast area of Syria and Iraq, calling it an Islamic "caliphate."

Source: Fox News World

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Trump grounds Boeing plane, but can't move on from John McCain

President Trump is picking a whole lot of fights in recent days, including one with a dead senator.

Some of these are battles he should be engaging in, despite what much of the media say. And some are the kind he would be better off avoiding.

Take, for instance, Trump’s involvement in the decision to ground the Boeing plane that has been involved in two fatal crashes, the 737 Max 8.

The Washington Post says "it was extraordinary for a president to intervene in matters typically left to the FAA or the Department of Transportation." And the story quotes a former DOT secretary as saying Barack Obama was never involved in such safety decisions.

Rather than simply being briefed by the FAA, the Post reports, "Trump played an active role, participating in phone calls with Boeing chief executive Dennis Muilenburg and other stakeholders, and offering his thoughts about the aviation industry."

I don't know about you, but that's what I would want a president doing — not substituting his judgment for that of the experts but taking a hands-on role in crisis management. Aviation safety is a crucial issue. And if a Max 8 had crashed in the U.S., Trump would have shouldered enormous political blame.

Now there's an argument to be made that the president waited too long to ground the planes, acting after other major industrialized countries. Maybe he was too solicitous toward Boeing. And maybe the FAA should have more tightly regulated the airline giant. Recent reports about Boeing dragging its feet on pilot training for the planes' new software — and a sensor that may have been sending the wrong signals to prevent stalling — suggest that the two crashes may have been avoidable.

But I'd argue Trump's personal involvement is a good thing.

LORDSTOWN, OHIO PONDERS LIFE AFTER GENERAL MOTORS' DEPARTURE

I also have no problem with Trump doing what used to be called jawboning to keep auto jobs in America. But he's taking some flak for blaming the latest plant closure on the United Auto Workers.

After GM shut down a factory in Lordstown, Ohio, Trump tweeted: "Democrat UAW Local 1112 President David Green ought to get his act together and produce. G.M. let our Country down, but other much better car companies are coming into the U.S. in droves. I want action on Lordstown fast. Stop complaining and get the job done! 3.8% Unemployment!"

Trump said he also called GM's CEO, Mary Barra: "I am not happy that it is closed when everything else in our Country is BOOMING. I asked her to sell it or do something quickly. She blamed the UAW Union — I don't care, I just want it open!"

But ultimately this was a business decision (though not final) by the automaker, which is moving away from small sedans like the Chevrolet Cruze, made at that plant, in favor of bigger cars. The Lordstown plant workers agreed more than a decade ago that newly hired workers would be paid $20 an hour, not the standard $30. So the president's criticism seems like deflection.

And then there is John McCain. He and Trump couldn't stand each other. But Trump unloaded on him over the weekend, despite the fact that McCain died last August.

First, he lambasted the late Arizona senator for giving the uncorroborated Steele dossier to the FBI. Trump quoted Ken Starr as saying this was "unfortunately a very dark stain against John McCain." Trump added:

"He had far worse 'stains' than this, including thumbs down on repeal and replace after years of campaigning to repeal and replace!" And there was another shot against "'last in his class' (Annapolis) John McCain."

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Those tweets prompted stinging personal criticism from McCain's former aides and from his daughter Meghan.

McCain, who often joked about being a poor student at the Naval Academy, was a controversial figure in the GOP. The onetime nominee was a maverick who often took on his own party, starting with George W. Bush. He did cast that late-night thumbs-down against abolishing ObamaCare, but that was the third repeal attempt that, if not for divisions among Republicans, would never have come down to one vote.

But whether Trump's grievances against McCain are justified is beside the point. He was a war hero who served his country for decades. He is no longer with us. Perhaps it's time for the president to let it go.

Source: Fox News Politics

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Donald Trump Jr. calls Russia investigation ‘blight on democracy,’ says Mueller report an ‘incredible vindication’

Donald Trump Jr. on Thursday night called the findings from Special Counsel Robert Mueller’s report an “incredible vindication” by showing no collusion between the president and Russia, but he added that lawmakers should now be tasked with tracking down the origins of the allegations.

Speaking from Grand Rapids, Mich., to Fox News’ Sean Hannity following Trump’s first major rally since the release of the report, Trump Jr. said his family and the administration felt vindicated that their denials over the past 22 months were validated.

“When you look at what my father’s accomplished in the last two years, when you look at his winning track record, despite the largest witch hunt - the greatest hoax ever perpetrated on the American people, imagine what he can do now with that cloud off of his back.”

TRUMP, IN FIERY FIRST RALLY SINCE MUELLER VINDICATION, CALLS ON DEMS TO STOP ‘RIDICULOUS BULLSH--’

Trump Jr. said despite the investigation coming to an end, Democrats and Republicans need to make a bipartisan effort to find the root cause of the investigation.

“This has been a stain on our republic. It’s a blight on democracy and our Constitution and it can’t be allowed to happen again, to either side.”

He also said lawmakers “have to get to the bottom of it.”

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Trump Jr., who often stumps for his father, also was asked about whether he’s considered a career in politics.

“These are my people, I get it,” he said. “I see what my father is doing and I’m just damn proud as an American to see those results and I’m going to keep fighting for him. I won’t rule it out for myself, but first things first, we’re going to let him finish up strong.”

Source: Fox News National

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Season-preview capsules: AL West

MLB: Spring Training-New York Mets at Houston Astros
Mar 22, 2019; West Palm Beach, FL, USA; Houston Astros second baseman Jose Altuve (27) throws to first base and retires New York Mets catcher Wilson Ramos (not pictured) in the second inning of a spring training game at FITTEAM Ballpark of the Palm Beaches. Mandatory Credit: Sam Navarro-USA TODAY Sports

March 26, 2019

AMERICAN LEAGUE WEST (in projected order of finish)

HOUSTON ASTROS

To review: 103-59 in 2018, first in AL West, lost in ALCS

What’s new: Additions include OF Michael Brantley, C Robinson Chirinos and LHP Wade Miley. Gone are C Brian McCann, UT Marwin Gonzalez, DH Evan Gattis, LHP Dallas Keuchel and RHP Charlie Morton.

Cause for concern: Versatile RHP Lance McCullers Jr. is out for the 2019 season after needing Tommy John surgery, and former top right-handed pitching prospect Francis Martes is suspended 80 games after testing positive for a performance-enhancing substance. Ace RHPs Justin Verlander and Gerrit Cole are each on track to become free agents after the season.

Projecting 2019: The Astros are once again among the favorites in the AL, returning a star-studded roster that will benefit from the addition of three-time All-Star Brantley. With Verlander leading the staff, pitching remains a strength, and top right-handed pitching prospect Forrest Whitley isn’t far from adding himself to the mix. Outfield prospect Kyle Tucker could stick in the majors after making his debut last season, adding to a core that received a long-term boost in the form of 3B Alex Bregman’s six-year, $100 million extension.

LOS ANGELES ANGELS

To review: 80-82 in 2018, fourth in AL West

What’s new: Additions include C Jonathan Lucroy, 1B Justin Bour, RHPs Matt Harvey, Cody Allen and Trevor Cahill and new manager Brad Ausmus. Gone are RHP Garrett Richards and former skipper Mike Scioscia.

Cause for concern: DH Shohei Ohtani (Tommy John surgery) won’t be ready for Opening Day in addition to not being able to pitch all season. LHPs Tyler Skaggs (forearm) and Andrew Heaney (elbow) remain injury-prone this spring.

Projecting 2019: The Scioscia era has come to an end in Los Angeles, but the Angels made sure the Mike Trout era will last the bulk of the star outfielder’s career with a record-shattering, 12-year deal worth more than $430 million signed this spring. Trout remains a perennial MVP candidate capable of keeping the Angels in striking distance in the AL nearly himself. He’ll soon get help in the form of top outfield prospect Jo Adell, who reached Double-A last season.

OAKLAND ATHLETICS

To review: 97-65, second in AL West, lost AL wild-card game

What’s new: Additions include UT Jurickson Profar, OF Robbie Grossman and RHP Marco Estrada. Gone are C Jonathan Lucroy, 2B Jed Lowrie and RHPs Trevor Cahill and Jeurys Familia.

Cause for concern: LHP Sean Manaea’s 2019 season is in question as he continues to recover from arthroscopic shoulder surgery. Meanwhile, 1B Matt Olson (29 HRs in 2018) will miss the early portion of the season after undergoing surgery to address a hand fracture.

Projecting 2019: It’s tough to gauge expectations for the A’s, who shocked baseball with a playoff run last season after three straight last-place finishes in the AL West. The roster remains one of the cheapest in baseball and short on star power, but 3B Matt Chapman is poised for superstardom after proving he’s more than a glove at the hot corner last season. Left-handed pitching prospect A.J. Puk’s expected return from Tommy John surgery could offer a bright look into Oakland’s future, though the Athletics’ stock took a hit when 2018 first-rounder Kyler Murray announced he intends to play in the NFL over MLB.

SEATTLE MARINERS

To review: 89-73, third in AL West

What’s new: Additions include C Omar Narvaez, 1B/DH Edwin Encarnacion, 1B/OF Jay Bruce, SS Tim Beckham, OFs Domingo Santana and Mallex Smith, LHP Yusei Kikuchi and RHP Hunter Strickland. Gone are 2B Robinson Cano, DH Nelson Cruz, SS Jean Segura, RHP Edwin Diaz, C Mike Zunino and LHP James Paxton.

Cause for concern: RHP Felix Hernandez couldn’t hold a rotation spot last season; he’ll make $27 million in the final year of his contract in 2019. The loss of Cano, Cruz and Segura isn’t offset by the additions of Encarnacion and Bruce, and Diaz saved 64 percent of the team’s wins last season.

Projecting 2019: After years of appearing poised to end their lengthy playoff drought, the Mariners blew it up this offseason and appear headed toward a rebuild. Seattle could bounce back quickly, though, as key pieces obtained in trades — such as LHP Justus Sheffield and RHP Justin Dunn — aren’t far from the majors. Adding former top shortstop prospect J.P. Crawford from the Phillies gives Seattle a wild card as it looks to establish a new core.

TEXAS RANGERS

To review: 67-95, fifth in AL West

What’s new: Additions include C Jeff Mathis, 3B Asdrubal Cabrera, OF Hunter Pence, RHPs Lance Lynn and Shelby Miller, LHP Drew Smyly and first-time manager Chris Woodward. Gone are 3B Adrian Beltre, C Robinson Chirinos, UT Jurickson Profar and RHP Bartolo Colon.

Cause for concern: Texas committed more errors than any other AL team last season, and overcoming that flaw doesn’t figure to get any easier with Beltre’s retirement. Behind LHP Mike Minor, the Rangers’ rotation is a bunch of question marks.

Projecting 2019: The Rangers are making things interesting with gambles on arms such as Smyly and Miller, but it’s likely the team will once again struggle this season. Further development from RF Nomar Mazara and cutting down LF Joey Gallo’s lofty strikeout totals will be key areas of focus as Texas continues its rebuild, which isn’t expected to leap forward as none of the team’s top prospects have played beyond Double-A.

–By Kyle Brasseur, Field Level Media

Source: OANN

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Ukraine: President claims tycoon backed rivals for revenge

Ukrainian President Petro Poroshenko says his two top election rivals are backed by a self-exiled tycoon who wants revenge for the nationalization of his bank.

Poroshenko said at a rally in the city of Lviv on Thursday that billionaire businessman Ihor Kolomoyskyi is trying to unseat him by supporting comedian Volodymyr Zelenskiy and former Prime Minister Yulia Tymoshenko in Sunday's election.

Opinion polls have shown Zelenskiy leading the race. He and Tymoshenko have rejected claims that Kolomoyskyi is the funder and mastermind of their campaigns.

Poroshenko blamed the ex-prime minister for Ukraine's past economic woes and alleged that a Zelenskiy victory would help Russia.

Russia annexed Ukraine's Crimea in 2014 in a move that most nations see as illegal and also backed a separatist rebellion in eastern Ukraine.

Source: Fox News World

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

April 26, 2019

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

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

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

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

(Reporting by Tassilo Hummel; Editing by Thomas Seythal)

Source: OANN

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Spain appears to have stemmed a surge in illegal migration that made it Europe’s main entry point for sea arrivals, after boosting joint efforts with neighboring Morocco to clamp down on the flow.

The country, which holds a national election Sunday, saw nearly 60,000 people reach its shores irregularly in 2018, most from Morocco and West Africa. But sea arrivals have plummeted since February.

While the migrant flow often fluctuates due to weather and other factors, an internal European Union report obtained by The Associated Press suggests intensified efforts to stop the migrants before they’re able to reach European waters are paying off.

The report doesn’t specify what Morocco did to hold back migrants or what it got in return other than “explicit recognition and support” from the Spanish government and the EU’s executive Commission in Brussels.

Source: Fox News World

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FILE PHOTO: The Credit Suisse logo is pictured on a bank in Geneva
FILE PHOTO: The Credit Suisse logo is pictured on a bank in Geneva, Switzerland, October 17, 2017. REUTERS/Denis Balibouse/File Photo

April 26, 2019

ZURICH (Reuters) – Shareholders approved Credit Suisse’s 2018 compensation report with an 82 percent majority on Friday, overriding frustrations expressed at its annual general meeting over jumps in executive pay during a year its share price plummeted.

Three shareholder advisers had recommended investors vote against Switzerland’s second-biggest bank’s remuneration report, while a fourth backed the report but expressed reservations about whether management pay matched performance.

The approval marked a slight increase over the 80.8 percent support garnered for the bank’s 2017 compensation report.

(Reporting by Brenna Hughes Neghaiwi; Editing by Michael Shields)

Source: OANN

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A nationwide teachers’ strike is spurring Poland’s government to hold meetings with educators, parents and experts to discuss ways to improve the country’s public schools.

Teachers’ unions refused to participate in Friday’s talks to protest the government’s refusal to grant pay increases, the unmet demand behind the nearly three-week strike that closed a majority of schools.

The unions have suspended the strike until September to allow for end-of-high-school exams and to give the government time to propose ways to satisfy teachers.

Prime Minister Mateusz Morawiecki said improvements to the education system are urgently need to allow for better salaries and higher quality teaching.

Teachers want a 30% raise to their monthly earnings, which range from 1,800 zlotys to 3,000 zlotys ($470 to $780.)

Source: Fox News World

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FILE PHOTO: Traders work on the trading floor of Barclays Bank at Canary Wharf in London
FILE PHOTO: Traders work on the trading floor of Barclays Bank at Canary Wharf in London, Britain December 7, 2018. REUTERS/Simon Dawson/File Photo

April 26, 2019

By Simon Jessop and Sinead Cruise

LONDON (Reuters) – Activist investor Edward Bramson is likely to fail in his attempt to get a board seat at Barclays’ annual meeting next week, even though shareholders are dissatisfied with performance of the group’s investment bank.

New York-based Bramson’s Sherborne Investors and the board of the British bank have been sparring for months over Barclays’ strategy.

Bramson wants to scale back Barclays’ investment bank to reduce risk and boost shareholder returns. Barclays Chief Executive Jes Staley remains staunchly committed to growing the business out of trouble.

After failing to persuade Staley to change course since he began building a 5.5 percent stake in the bank in March last year, Bramson hopes a board seat will rachet up the pressure.

Both sides have written to shareholders pitching their case and Bramson has courted investors in one-on-one meetings, although none have publicly backed him yet.

Interviews by Reuters with five institutional investors in Barclays suggest Bramson has failed to persuade them.

Sherborne declined to comment.

Mirza Baig, head of investment stewardship at top-40 shareholder Aviva Investors, said Bramson was welcome on the bank’s register but the boardroom was a step too far.

“He has created a lot of value at other businesses, but, generally, when he has come in as executive chair and taken full control. This would be a different case where he would just be one lone voice on the board,” he said.

A second Barclays shareholder said he backed Bramson’s goal of improving returns but via an “evolutionary” approach.

“If you look at banks that have tried to restructure their operations in investment banking – you look at Natwest Markets, Deutsche Bank – I struggle to think of an example where a roughshod restructuring has been accretive to shareholder value.”

A third, top-30 investor said he had been impressed by incoming Chairman Nigel Higgins’ grasp of the challenge in hand, and felt investors would give him time.

“Management know they have to execute and deliver improved returns… [Higgins] will continue to re-shape the board but obviously he didn’t feel that having someone with a diametrically opposed view on it would be helpful.”

A fourth, top-30 investor agreed: “We voted for the chairman to come in and it would be crazy to allow an activist to join the board (at this time).”

Jupiter Fund Management, the 24th largest investor, said it also planned to vote against Bramson.

Barclays has nearly 500 institutional shareholders, Refinitiv data showed.

Since Staley joined Barclays in 2015, the investment bank returns relative to capital invested have increased but are still underperforming the overall business.

Barclays’ first-quarter figures showed the investment bank posted a 6 percent drop in income from its markets business and a 17 percent fall in banking advisory fees.

Returns in the investment bank fell to 9.5 percent from 13.2 percent a year ago.

Famed for successful campaigns against smaller British companies in sectors from chemicals to advertising, Bramson’s board seat pitch has been rebuffed by shareholder advisory firms.

Institutional Shareholder Services, the world’s biggest, said Bramson’s proposal “falls short of what can reasonably be expected from a shareholder trying to address issues at a 28 billion pounds, systemically important bank”.

Glass Lewis also flagged concern about Bramson’s lack of banking experience and “questionable” shareholding structure, referring to Sherborne’s use of derivative contracts to hedge losses should its strategy fail.

Critics said the arrangement meant his interests are not truly aligned with those of other long-term shareholders.

British advisory firm Pirc, however, said it recommended that investors abstain in the vote on Bramson’s proposal as a challenge to the board to do better in the year ahead – or face a similar contest in 2020.

(Editing by Jane Merriman)

Source: OANN

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