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Uber files for IPO, lifting curtain on finances

FILE PHOTO: The Uber Hub is seen in Redondo Beach
FILE PHOTO: The Uber Hub is seen in Redondo Beach, California, U.S., March 25, 2019. REUTERS/Lucy Nicholson

April 11, 2019

NEW YORK (Reuters) – Uber Technologies Inc on Thursday filed publicly with the U.S. Securities and Exchange Commission for its initial public offering (IPO), taking it a step closer to one of the largest technology stock listings of all time.

The Uber filing gives the first comprehensive financial picture of the ride-hailing and transportation services company. Started in 2009 after its founders struggled to get a cab on a snowy night, Uber has changed the way millions of people travel and commute but continues to lose money.

The filing revealed Uber had 91 million users on its platforms at the end of 2018.

Reuters reported this week that Uber plans to sell around $10 billion worth of stock at a valuation of between $90 billion and $100 billion. Investment bankers had previously told Uber it could be worth as much as $120 billion.

(Reporting by Joshua Franklin in New York; Editing by Meredith Mazzilli)

Source: OANN

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EBay offers concessions to avert fight with Elliott: sources

FILE PHOTO - An eBay sign is seen at an office building in San Jose, California
FILE PHOTO - An eBay sign is seen at an office building in San Jose, California May 28, 2014. REUTERS/Beck Diefenbach (

February 26, 2019

(Reuters) – EBay Inc has informed Elliott Management Corp it is willing to explore shedding some of its key assets and giving the hedge fund board representation in a bid to avert a proxy contest, people familiar with the matter said on Tuesday.

The U.S. e-commerce company has offered to explore options for its StubHub ticket sales business and eBay Classifieds Group, including a sale, as Elliott has called for, the sources said.

EBay is also discussing offering board seats to Elliott, though no agreement has been reached and negotiations could still fall apart, the sources said. If a deal is reached, it could be announced by March 1, when the deadline to nominate directors to eBay’s board expires, the sources added.

The sources asked not to be identified because the matter is confidential. Elliott declined to comment while eBay did not respond immediately to a request for comment. The Wall Street Journal first reported details of the settlement talks.

(Reporting by Greg Roumeliotis and Liana B. Baker in New York; Editing by Leslie Adler)

Source: OANN

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Sudan protest group says attempt to break up sit-in outside defense ministry is under way

A Sudanese demonstrator gestures as he attends a sit-in protest outside the Defence Ministry in Khartoum
A Sudanese demonstrator gestures as he attends a sit-in protest outside the Defence Ministry in Khartoum, Sudan April 14, 2019. REUTERS/Stringer

April 15, 2019

KHARTOUM (Reuters) – Sudan’s main protest group said an attempt was under way on Monday to break up a sit-in outside the defense ministry compound in the capital, Khartoum.

The Sudanese Professionals Association (SPA) called on people to respond by joining the sit-in to “protect your revolution”, according to a statement published on its social media pages.

(Reporting by Khalid Abdelaziz; Writing by Aidan Lewis; Editing by Hugh Lawson)

Source: OANN

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Top Republican fires back at AOC over her praise of VA health care: ‘Apparently ignorance is bliss’

A top Republican congressman is firing back at Rep. Alexandria Ocasio-Cortez, D-N.Y., in response to her claim that the Department of Veteran Affairs provides “some of the highest quality care” to veterans.

“Apparently ignorance is bliss when it comes to Rep. Ocasio-Cortez and her views of VA,” Rep. Phil Roe, the ranking Republican on the Committee on Veterans’ Affairs, said in a statement to Fox News. “It is evident that she paid little attention to the scandalous treatment of veterans that occurred several years ago by some in the very agency created to serve them.”

OCASIO-CORTEZ DECLARES VA 'ISN'T BROKEN,' ALREADY PROVIDES TOP-NOTCH CARE

Ocasio-Cortez claimed during a town hall last week that the VA “isn’t broken” despite the scandals that have plagued the agency over the last decade.

“All I can think of is that classic refrain that my parents always taught me growing up, is that: ‘if it ain't broke, don't fix it,’" she said in New York, as part of her argument against privatizing aspects of the agency.

"That is the opening approach we have seen when it comes to privatization, it's the idea that this thing that isn’t broken, this thing that provides some of the highest quality care to our veterans somehow needs to be fixed, optimized, tinkered with until we don’t even recognize it anymore," she said, in comments first reported by The Washington Examiner.

Rep. Phil Roe, R-Tenn., is calling out Rep. Alexandria Ocasio-Cortez, D-N.Y., for her comments about the VA. (Photo By Bill Clark/CQ Roll Call)

Rep. Phil Roe, R-Tenn., is calling out Rep. Alexandria Ocasio-Cortez, D-N.Y., for her comments about the VA. (Photo By Bill Clark/CQ Roll Call)

"They are trying to fix the VA for pharmaceutical companies, they are trying to fix the VA for insurance corporations, and, ultimately they are trying to fix the VA for a for-profit healthcare industry that does not put people or veterans first," she said. “And so we have a responsibility to protect it.”

Ocasio-Cortez's comments were aimed at Trump administration efforts to expand choice and private health care options in the VA health care system, particularly via the MISSION Act -- signed into law by President Trump last year.

But Roe, R-Tenn., in his statement, said there has been “widespread recognition” from Democrats and Republicans that the department needed reform since the 2014 scandal that found secret wait lists, systemic neglect and veterans dying waiting to see a doctor. He noted that the MISSION Act was signed into law with bipartisan support in Congress and backing from veteran groups -- but said there remains “mountains of work ahead of us still.”

“While Rep. Ocasio-Cortez and I have VA medical facilities in and near our districts with great quality ratings, not all veterans are so lucky. That’s not to mention the many student veterans across the nation who struggled to pay their bills last fall due to VA’s failure to properly process their GI Bill benefits, or the many veterans who wait years for decisions on their disability claims,” he said.

VA SECRETARY WARNS TRUMP'S SIGNATURE PROGRAM COULD COLLAPSE WITHOUT FIX

“Problems and inconsistencies like that are the definition of a system that needs fixing,” he said. “I am baffled as to how Rep. Ocasio-Cortez fails to see that.”

“When you don't know anything about anything you should probably keep your mouth shut or everyone will know you don't know anything,” he added.

Roe was joined in his criticism of Ocasio-Cortez by Rep. Greg Steube, R-Fla., who also serves on the committee.

“From veterans waiting 30-60 days for an appointment, suicide hotlines going to voicemail, to the rationing of medicine and vast cost overruns, this Department is failing on multiple fronts,” he said in a statement. “To say that this is the level of care those who put their lives on the line to defend our nation deserve is frankly offensive.”

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Steube noted that Ocasio-Cortez is a strong proponent of government-run, single-payer health care plans in her pushes for a Green New Deal and Medicare-for-all and suggests it is that ideological bent that leads her to view the VA in a positive light.

“As a partially disabled veteran who deals with VA frequently, I know that this department is in need of serious reform,” he said. “But, it doesn’t surprise me that Representative Ocasio-Cortez won’t admit it -- she advocates for government run health care for all every day, so if she were to admit the failures of the only current system of government run health care, she would have to admit faults within her own plan.”

Source: Fox News Politics

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Harris sends message to old-guard: Every era has its end

California Sen. Kamala Harris sent a subtle signal to the old-guard of Democratic politics that every era has its end.

At an Atlanta church service dedicated to youth Sunday, the presidential candidate compared leadership to a relay race in which each generation must ask themselves "what do we do during that period of time when we carry that baton."

Then she added with a smile that for "the older leaders, it also becomes a question of let's also know when to pass the baton."

The 54-year-old senator — one of the younger contenders for the White House in 2020 — did not mention any other presidential hopeful or tie her remarks to the Democratic presidential scramble. Her spokeswoman said she only wanted to encourage the youth at Ebenezer Baptist Church.

Her commentary to the congregation once led by Martin Luther King Jr. comes as former Vice President Joe Biden, 76, considers whether to join a field that already includes Vermont Sen. Bernie Sanders, who is 77. Both men have run for president before and fallen short.

'Biden and Sanders are seen as strong contenders for the Democratic nomination, though other candidates and some voters have emphasized the need for a more youthful approach to try and beat President Donald Trump in the general election. Several other candidates in the race, including two governors, are also in their late sixties.

Harris noted Sunday that King was 26 when he led the Montgomery Bus Boycotts that pushed him to the forefront of the civil rights movement.

Later Sunday, Harris told a rally at Morehouse College in Atlanta that Attorney General William Barr should testify under oath on Capitol Hill, rather than just submit the written summary of special counsel Robert Mueller's report on the Russia investigation.

The Justice Department said Sunday that Mueller's team did not find evidence that Trump's campaign "conspired or coordinated" with Russia to influence the 2016 presidential election. Mueller also investigated whether Trump obstructed justice but did not come to a definitive answer.

Other highlights of Sunday campaigning:

KIRSTEN GILLIBRAND

Democratic presidential candidate Kirsten Gillibrand assailed President Donald Trump as a coward who is "tearing apart the moral fabric of the vulnerable," as she officially started her campaign for president.

The senator spoke in New York Sunday, feet away from one of Trump's signature properties, the Trump International Hotel and Tower.

She said that instead of building walls as Trump wants to do along the U.S.-Mexico border, Americans build bridges, community and hope.

Gillibrand also called for full release of Mueller's report in the Russia investigation. Attorney General William Barr released a summary Sunday afternoon, but Democrats want to see the full details.

Gillibrand is trying to position herself in the crowded field of Democrats seeking the party's nomination. While some hopefuls have shied away from mentioning Trump, Gillibrand has not hesitated to do so.

ELIZABETH WARREN

Sen. Elizabeth Warren said Sunday the National Rifle Association is holding "Congress hostage" when it comes to stemming gun violence.

The Massachusetts senator and Democratic presidential candidate tells a campaign rally that if seven children were dying from a mysterious virus, "we'd pull out all the stops till we figured out what was wrong." But in terms of gun violence, she said the NRA "keeps calling the shots in Washington."

Warren finished a two-day campaign trip to New Hampshire with an event at a middle school in Conway Sunday afternoon.

Warren focused much of her speech on her approach to economics, but paid special attention to unions Sunday. She said more power needs to be put back in the hands of workers.

BETO O'ROURKE

Democratic presidential candidate Beto O'Rourke told voters in Las Vegas Sunday that President Donald Trump bears blame for the separation of families at the U.S.-Mexico border but responsibility lies with everyone in the country to fix the situation.

O'Rourke spoke Sunday to more than 200 people packed into and snaking around a taco shop on the city's north end. He said immigrant families are leaving their home countries and journeying on foot because they have no other choice.

The former Texas congressman said desperate families were broken up in the U.S. when they were at their most vulnerable and desperate moments, and what happened to them "is on every single one of us."

___

Woodall reported from Conway, New Hampshire. Associated Press writers Juana Summers in New York and Michelle Price in Las Vegas contributed to this report.

Source: Fox News National

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Former Catalan leader Puigdemont to run in European election

Former Catalan president Puigdemont reacts as trial over independence bid starts in Madrid
Former Catalan president Carles Puigdemont addresses the media in Berlin, Germany, February 12, 2019, as twelve Catalan politicians go on trial for their role in Catalonia's failed 2017 independence bid. REUTERS/Hannibal Hanschke

March 10, 2019

BARCELONA (Reuters) – Former Catalan president Carles Puigdemont, living in self-imposed exile in Belgium, will run in the May 26 election to the European Parliament as the leading candidate of Junts per Catalunya (JxCat), his political party announced on Sunday.

Puigdemont, 56, fled Spain in October 2017 after Madrid imposed direct rule on Catalonia. The wealthy northeastern region had unilaterally declared independence on the basis of a referendum deemed illegal by Spanish courts.

“It is the moment to make another step to internationalize the self-determination right of Catalonia from Europe’s heart to all the world,” Puigdemont said on Twitter.

Puigdemont and five other former Catalan leaders in self-imposed exile in European countries would be arrested if they returned to Spain. Puigdemont, who was the Catalan president for about 22 months, faces charges of rebellion in Spain.

Last July, Spanish courts lifted the European arrest warrants for Puigdemont after a German court ruled that he could be extradited to Spain to face a separate charge of misuse of public funds, but not for the rebellion charge, something that Spain decided not to accept.

From Belgium, Puigdemont ran again for office in the December 2017 Catalan regional elections and was proposed for president by a parliamentary majority, but Spanish courts banned his attempt to assume office from outside the country.

Oriol Junqueras, leader of the pro-independence party ERC who is on trial in Madrid with 11 other Catalan politicians for their role in the 2017 secession drive, will also run in the European election.

(Reporting by Joan Faus; Editing by Janet Lawrence)

Source: OANN

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Why some green investors are passing on Uber and Lyft

Brian Friedenberg, an intern for Lyft, has his picture taken in front of signage for Lyft as it is displayed at the NASDAQ MarketSite in Times Square in celebration of its initial public offering (IPO) on the NASDAQ Stock Market in New York
Brian Friedenberg, an intern for Lyft, has his picture taken in front of signage for Lyft as it is displayed at the NASDAQ MarketSite in Times Square in celebration of its initial public offering (IPO) on the NASDAQ Stock Market in New York, U.S., March 29, 2019. REUTERS/Shannon Stapleton/File Photo

April 2, 2019

By Ross Kerber and Heather Somerville

BOSTON/SAN FRANCISCO (Reuters) – Some environmentally focused investors are not ready to buy into Lyft Inc or Uber Technologies Inc, worried about the climate impact of this year’s two most closely watched initial public offerings.

Both companies hope to push people away from car ownership and promote shared and sustainable transportation services, among their many ambitions that have already reshaped traffic in major U.S. cities.

Lyft began trading on Friday and its larger rival Uber will kick off its IPO this month, though neither has shown itself to be profitable and shares of Lyft sank below their initial price of $72 on Monday.

Academics and city planners are still studying whether the companies will help reduce carbon emissions by making better use of existing vehicle fleets, or increase them by clogging traffic and diverting riders from trains and buses.

But even as the companies argue congestion has many causes including growing city populations, some investors cite early indications that ride-hailing technology puts more, not fewer, cars on the road.

“As far as I can tell, they’re actually putting more cars into the congested areas, and they’re pulling business out of the transit systems,” said Murray Rosenblith, portfolio manager of the New Alternatives Fund, which aims to make socially responsible investments.

“This is not an area where New Alternatives is going to get engaged,” Rosenblith said.

Joshua Brockwell, a director at Azzad Asset Management, which also factors environmental issues into investment decisions, said both companies also face the issue of drivers “deadheading,” or driving around in between fares.

While both also aim to reduce private car ownership, he said, “that’s a not an eco-friendly goal in and of itself. It’s overall ‘miles traveled’ and carbon emissions that count.”

Representatives for several other well-known climate-focused investors said they do not buy IPOs or were not ready to weigh in on ride-hailing, including Green Century Funds, Boston Common Asset Management and Parnassus Investments.

Research shows mixed results. A 2017 University of California at Davis study found ride-hailing boosted use of commuter rail but pulled people away from buses and light rail. In addition people often used the apps to take trips they previously made by walking, biking, taking public transit or not taking at all.

A study by the San Francisco County Transportation Authority found that about half of new congestion in San Francisco from 2010 to 2016 was from ride-hailing. Average speeds in the city stood at 20.9 miles per hour at the end of the period, researchers found, 3.1 miles per hour slower than at the start. https://bit.ly/2EsU7cg

Drivers for Lyft and Uber often travel far to reach urban areas before they even turn on the app. It is common for drivers from California’s Central Valley to drive close to 100 miles (160 km) to San Francisco in search of more lucrative fares.

Lyft executives including Chief Policy Officer Anthony Foxx said that the company has taken other steps to combat congestion such as showing bus arrival times on its smartphone app and investing in bicycles and scooters. Lyft also says it spent millions of dollars on carbon offsets in 2018, and supports transit infrastructure.

“We are on a long path. We didn’t get to this level of congestion in our cities overnight,” Foxx said in an interview with Reuters.

Uber did not make executives available to comment, but the company has made its own commitments to bikes, scooters and other sustainability initiatives. Its CEO Dara Khosrowshahi in September promised $10 million to study ideas such as congestion pricing to speed traffic.

One opportunity is that Uber and Lyft could help drivers buy more expensive electric cars, which have a lower cost per mile. Accelerating the shift to electric could win over Seb Beloe, head of research at WHEB Asset Management in London, another investor focused on sustainability, he said via email.

But he avoided the Lyft IPO and worries the service and Uber will diminish public transit. As things stand, “we think that the case is not yet compelling” for the companies, Beloe said.

(Reporting by Ross Kerber in Boston and Heather Somerville in San Francisco; Editing by Lisa Shumaker)

Source: OANN

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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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