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Erdogan says those who buy FX expecting lira to fall will pay ‘heavy price’

Turkish President Tayyip Erdogan addresses supporters during a rally for the upcoming local elections, in Istanbul
Turkish President Tayyip Erdogan gestures as he addresses AK Party and Nationalist Movement Party (MHP) supporters during a rally for the upcoming local elections, in Istanbul, Turkey March 24, 2019. REUTERS/Umit Bektas

March 24, 2019

ISTANBUL (Reuters) – Turkish President Tayyip Erdogan said on Sunday those in the finance sector who buy foreign currencies on the expectation that the lira will fall will pay “a very heavy price”, adding the Finance Ministry is carrying out work on this.

Speaking at an election rally in Istanbul, he said “some people” had begun provoking Turkey and that they are attempting to make the lira decline against foreign currencies with their cooperators in Turkey.

The Turkish lira tumbled more than 4 percent against the U.S. dollar on Friday, its biggest one-day fall since a currency crisis took hold in August, raising concerns that Turks are buying more foreign cash as ties with Washington deteriorate.

(Reporting by Ali Kucukgocmen)

Source: OANN

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US must address North Korea's abhorrent human rights record at Trump-Kim summit, report urges

With the second summit between North Korean leader Kim Jong Un and President Trump just days away, some in Washington are advocating a renewed push to ensure that the issue of human rights is front and center.

“There is a clear nexus between human rights and national security: forced labor for the regime – labor that is likely being used as part of the missile and weapons program, and which is likely being used as a guinea pig population to test chemical and biological weapons,” asserted Olivia Enos, policy analyst for The Heritage Foundation and author of a new report titled: “Leveraging U.S. Law to Advocate for Human Rights in Talks with North Korea.”

US COMMANDER: NORTH KOREA HASN'T SLOWED ITS NUCLEAR PROGRAM

The report underscored that “diplomacy should be tied not only to concessions on its nuclear program but to human rights improvements,” noting that forced labor serves as a financial resource for the continued development of North Korea’s rogue missile and nuclear program.

Beyond matters of U.S national security, the report also states that the U.S is obligated to enforce its own sanction laws, which were put in place under the guise of human rights concerns.

KIM JONG ALE, ROCKET MAN T-SHIRTS AND TRUMP-THEMED HAIRCUTS: VIETNAM EMBRACES LANDMARK SUMMIT

“The U.S cannot commit to lifting all sanctions if North Korea only denuclearizes and does not address human rights issues,” the report continues. “U.S. law requires Pyongyang to curtail its human rights violations before receiving certain sanctions relief. Furthermore, improvements in human rights can be used as a litmus test to determine North Korea’s sincerity in its commitment to both peace and disarmament.”

NORTH KOREAN DEFECTOR ON KIM JONG UN’S 'LIES,' SURVIVING TORTURE, AND SUPPORTING TRUMP POLICY

In particular, the report emphasizes that there are a number of tools already in place that have the potential to substantially ratchet up the Trump team’s pressure on the North Korean regime to make moves in the right direction. For example, the Customs and Border Patrol (CBP) in November seized over 10,000 cartons (valued at more than $200,000) of frozen squid that was processed in China, but suspected by being manufactured by North Korean labor.

This picture from North Korea's official Korean Central News Agency (KCNA) taken on August 29, 2017 and released on August 30, 2017 shows North Korea's intermediate-range strategic ballistic rocket Hwasong-12 lifting off from the launching pad at an undisclosed location near Pyongyang. (Photo credit STR/AFP/Getty Images)

This picture from North Korea's official Korean Central News Agency (KCNA) taken on August 29, 2017 and released on August 30, 2017 shows North Korea's intermediate-range strategic ballistic rocket Hwasong-12 lifting off from the launching pad at an undisclosed location near Pyongyang. (Photo credit STR/AFP/Getty Images)

The CBP welcomes more such tips for any person with information pertaining to goods imported to the U.S that may have produced under forced and illicit labor practices.

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In order to receive sanctions relief, the U.S must guarantee that North Korea is “taking verified steps to improve living condition in its political prisoners.”

“Given that tools exist and laws mandate that North Korea take steps toward rectifying its human rights record, the U.S. should seek to integrate human rights into dialogue with North Korea,” Enos said. “Shortly before the Singapore Summit, the Trump Administration fell silent on human rights abuses in North Korea. The silence continues. This was shame coming on the heels of significant action – including the release of the three Americans ahead of the summit – should have emboldened U.S negotiators to raise human rights concerns with North Korea.”

According to Enos, now more than ever human rights must remain at the top of the U.S. radar if any de-nuclearization agreement is to move forward.

"What better way to reignite the conversation than to raise those concerns publically in Hanoi? Not a single U.S. sanction issued on human rights grounds can legally be lifted if North Korea only denuclearizes," she added. "Diplomacy with Pyongyang should reflect that reality by pursuing progress on both denuclearization and human rights in tandem."

Source: Fox News World

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Boeing shareholders sue over 737 MAX crashes, disclosures

FILE PHOTO: Employees walk by the end of a 737 Max aircraft at the Boeing factory in Renton
FILE PHOTO: Employees walk by the end of a 737 Max aircraft at the Boeing factory in Renton, Washington, U.S., March 27, 2019. REUTERS/Lindsey Wasson/File Photo

April 10, 2019

By Jonathan Stempel

(Reuters) – Boeing Co’s legal troubles grew on Tuesday as a new lawsuit accused the company of defrauding shareholders by concealing safety deficiencies in its 737 MAX planes before two fatal crashes led to their worldwide grounding.

The proposed class action filed in Chicago federal court seeks damages for alleged securities fraud violations, after Boeing’s market value tumbled by $34 billion within two weeks of the March 10 crash of an Ethiopian Airlines 737 MAX.

Chief Executive Dennis Muilenburg and Chief Financial Officer Gregory Smith were also named as defendants.

Boeing spokesman Charles Bickers had no immediate comment.

According to the complaint, Boeing “effectively put profitability and growth ahead of airplane safety and honesty” by rushing the 737 MAX to market to compete with Airbus SE, while leaving out “extra” or “optional” features designed to prevent the Ethiopian Airlines and Lion Air crashes.

It also said Boeing’s statements about its growth prospects and the 737 MAX were undermined by its alleged conflict of interest from retaining broad authority from federal regulators to assess the plane’s safety.

Richard Seeks, the lead plaintiff, said Boeing’s compromises began to emerge after the Ethiopian Airlines crash killed all 157 onboard, five months after the Lion Air crash killed 189.

Seeks said he bought 300 Boeing shares in early March, and sold them at a loss within the last two weeks. The lawsuit seeks damages for Boeing stock investors from Jan. 8 to March 21.

Shareholders often file lawsuits accusing companies of securities fraud for concealing material negative information that causes the stock price to decline upon becoming public.

Chicago-based Boeing faces many other lawsuits over the crashes, including by victims’ families and by participants in its employee retirement plans.

Boeing said on Tuesday that aircraft orders in the first quarter fell to 95 from 180 a year earlier, with no orders for the 737 MAX following the worldwide grounding.

On April 5, it said it planned to cut monthly 737 production to 42 planes from 52, and was making progress on a 737 MAX software update to prevent further accidents.

The case is Seeks v Boeing Co et al, U.S. District Court, Northern District of Illinois, No. 19-02394.

(Reporting by Jonathan Stempel in New York; Editing by Lisa Shumaker)

Source: OANN

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Trump Calls Schiff 'Bad Guy' Who Knowingly Lied About Russia

President Donald Trump delivered some choice words about House Intelligence Committee Chairman Adam Schiff, saying the California Democrat is a "bad guy" who has been knowingly lying about him for nearly two years.

"Schiff is a bad guy. He knew he was lying. He's not a dummy. He knew he was lying," Trump told Fox News host Sean Hannity Wednesday night. "For a year and a half, he would go on and just lie and lie and leak and call up CNN and others . . . and [he] gets on and says, 'oh, we want to talk about Russia.'

"He knew it was a lie, and he would get into the backroom with his friends and the Democrat Party, and they would laugh like hell at what they were doing. It's a disgrace."

Schiff has insisted evidence showing Trump conspired with the Russians to win the 2016 election exists. After Attorney General William Barr announced Sunday that Trump was cleared of the collusion accusation, Schiff did not back down from his claim.

Some Republicans are now calling for Schiff to be removed from his post as committee chairman.

Source: NewsMax America

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U.S. weekly jobless claims lowest since 1969; unemployment rolls shrink

Job seekers speak with potential employers at a City of Boston Neighborhood Career Fair on May Day in Boston
FILE PHOTO: Job seekers speak with potential employers at a City of Boston Neighborhood Career Fair on May Day in Boston, Massachusetts, U.S., May 1, 2017. REUTERS/Brian Snyder

April 18, 2019

WASHINGTON, (Reuters) – The number of Americans filing applications for unemployment benefits fell to more than a 49-1/2-year low last week, pointing to sustained strength in the economy.

Initial claims for state unemployment benefits dropped 5,000 to a seasonally adjusted 192,000 for the week ended April 13, the lowest level since September 1969, the Labor Department said on Thursday. Data for the prior week was revised to show 1,000 more applications received than previously reported.

Claims have now declined for five straight weeks. Economists polled by Reuters had forecast claims would rise to 205,000 in the latest week.

The Labor Department said no states were estimated last week. Claims tend to be volatile around this time of the year because of the different timings of the Easter holiday and spring breaks.

The four-week moving average of initial claims, considered a better measure of labor market trends as it irons out week-to-week volatility, fell 6,000 to 201,250 last week, the lowest reading since November 1969.

The claims data covered the survey week for the nonfarm payrolls portion of April’s employment report. The four-week average of claims decreased by 19,250 between the March and April survey weeks. This suggests solid employment growth after payrolls increased by 196,000 jobs in March.

Though the trend in hiring has slowed, job gains remain above the roughly 100,000 needed per month to keep up with growth in the working-age population. The unemployment rate is at 3.8 percent, near the 3.7 percent Federal Reserve officials project it will be by the end of the year.

A report from the Fed on Wednesday showed “modest-to-moderate growth” in employment in a majority of the U.S. central bank’s districts in April. The Fed’s “Beige Book” report of anecdotal information on business activity collected from contacts nationwide showed notable worker shortages “most commonly in manufacturing and construction.”

Thursday’s claims report showed the number of people receiving benefits after an initial week of aid declined 63,000 to 1.65 million for the week ended April 6. The four-week moving average of the so-called continuing claims dropped 22,750 to 1.71 million.

(Reporting by Lucia Mutikani Editing by Paul Simao)

Source: OANN

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Trump meets with Vietnam’s president ahead of Hanoi summit with North Korea’s Kim

President Trump paid a courtesy call Wednesday to the leaders of Vietnam, the nation hosting this week’s summit between Trump and North Korean leader Kim Jong Un.

During the visit, Trump and Vietnamese President Nguyen Phu Trong presided over the signings of several commercial trade deals affecting the airline industries of their two countries.

SOUTH KOREA HOPES TRUMP-KIM SUMMIT IN VIETNAM USHERS NEW ERA OF PEACE

U.S. aircraft manufacturer Boeing signed agreements with VietJet for 100 737 MAX planes and with Bamboo Airways for 10 787 Dreamliners as the two leaders looked on Wednesday.

U.S.-based aviation technology company Sabre also inked a deal with Vietnam Airlines.

The White House did not immediately provide details on the agreements.

Trump, who arrived in Hanoi on Tuesday, said he hoped for “great things” from his second meeting with Kim. The president is scheduled to meet with Kim later Wednesday in Hanoi for a second round of nuclear talks.

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The U.S. is attempting to achieve denuclearization on the Korean Peninsula following a series of missile tests by North Korea that have worried its immediate regional neighbors, such as China and Japan, and raised concerns that Pyongyang was developing weapons that could reach deep into the U.S. mainland.

The two heads of state previously met in Singapore last June.

The Associated Press contributed to this story.

Source: Fox News World

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Remember Solyndra? Loss of taxpayer millions now seems forgotten, expert says

It's been exactly ten years since the Solyndra solar power company accepted a loan of half a billion taxpayer dollars that would never be repaid. Now one industry expert says he's not sure any lessons have been learned in the years since.

On March 20, 2009, then-Secretary of Energy Steven Chu announced Solyndra would be the recipient of a $535 million loan from his department under the Obama administration's revamped loan guarantee program. Solyndra used the money, along with hundreds-of-millions more from private investors, to build a new facility where it would be mass-producing its easy-to-install cylindrical solar "panels." The whole thing lasted about two years.

May 26, 2010: President Obama lifts a solar panel as he tours a Solyndra facility in Fremont, Calif.

May 26, 2010: President Obama lifts a solar panel as he tours a Solyndra facility in Fremont, Calif. (Reuters)

The ill-fated energy company had initially asked President George Bush for cash under the loan guarantee program, which was created to help companies working with clean energy technologies that might be considered too risky for private investors.

But it wasn't until President Obama launched his sweeping stimulus spending plan that Solyndra's application was approved, launching the California company to poster-child status despite what were apparently growing concerns about its long-term (and even short-term) viability.

Those concerns were reportedly being relayed to the White House in the run-up to President Obama's highly publicized visit to Solyndra headquarters, which was scheduled just six months before the 2010 midterm elections. Congressional investigators later uncovered information indicating that Solyndra was planning on laying off some of its employees ahead of the midterms, but waited due to pressure from the White House.

By the end of August 2011, little more than a year after hosting a presidential visit, Solyndra had filed for bankruptcy. And the writing was on the wall much earlier.

In Feburary 2011, the Department of Energy had restructured its loan and included terms that guaranteed private investors would be repaid before the government in the event the company went under.

Adding to the anger among Republicans over what was perceived as a politically-charged loan process was the fact that one of the private investors backing Solyndra was a well-known Obama fundraising bundler, George Kaiser.

"[T]he actions of certain Solyndra officials were, at best, reckless and irresponsible or, at worst, an orchestrated effort to knowingly and intentionally deceive and mislead the Department."

— Inspector General report on Solyndra, 2015

A little more than a week after the company announced it was going bankrupt, the FBI conducted a surprise raid and agents were seen carrying crates upon crates from Solyndra HQ in Fremont, Calif.

A 2015 Inspector General report found that Solyndra had over-inflated the value of some of its contracts, with some clients apparently receiving goods at a discount despite indications they would be paying full price. Some of the clients they had been counting on wound up bailing due to the availability of much cheaper technologies from China.

Either way, the IG report indicates that "the investigative record suggests that the actions of certain Solyndra officials were, at best, reckless and irresponsible or, at worst, an orchestrated effort to knowingly and intentionally deceive and mislead the Department." The IG admits that there were signs the government might have missed some obvious red flags, while critics have argued those red flags were more likely overlooked intentionally.

Sept. 8, 2011: FBI agents stand guard outside of Solyndra headquarters in Fremont, Calif. 

Sept. 8, 2011: FBI agents stand guard outside of Solyndra headquarters in Fremont, Calif.  (AP)

The loan guarantee program that helped Solyndra get off the ground, however briefly, still exists today, and taxpayer dollars are still being shelled out to energy companies of all types. The solar industry itself also doesn't seem to have suffered much, with a recent industry report predicting the number of installed solar projects would more than double by 2021.

Tom Pyle, an energy industry expert who led the Trump presidential transition team on energy, says the program's ongoing existence despite the lessons learned from the Solyndra debacle shows that government has no business backing private energy companies, whether they're solar or not.

"Even though President Trump has submitted very responsible budgets, including eliminating the loan program, Congress continues to fund it... even more generously," Pyle tells Fox News.

And when he considers the prospects of our energy future under proposals like the Green New Deal, Pyle says the lack of knowledge becomes all the more obvious.

"The bottom line is the Green New Dealers want to impose massive government control of our energy resources, and infuse billions of our taxpayer dollars into doubling down on the Solyndras and those projects," Pyle says. "So there aren't lessons being learned here, they're going the opposite way."

Source: Fox News Politics

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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.

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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.

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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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