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US long-term mortgage rates up for 4th week; 30-year 4.20%

U.S. long-term mortgage rates rose this week for the fourth straight week, though they remain historically low as a spur to home sales in the spring buying season.

Mortgage buyer Freddie Mac says the average rate on the 30-year, fixed-rate mortgage increased to 4.20% from 4.17% last week. By contrast, a year ago the benchmark rate stood at 4.58%.

The average rate for 15-year, fixed-rate home loans rose this week to 3.64% from 3.62% last week.

After peaking at nearly 5% in November, long-term rates started trending downward, helping to boost home sales after a rocky 2018.

Source: Fox News National

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The Latest: No convictions in Delaware prison riot trial

The Latest on the verdicts of four inmates charged in the prison riot at Vaughn Correctional Center in June 2017 (all times local):

3 p.m.

Prosecutors will have to decide whether they want to renew the effort to convict two inmates in the riot at the Delaware's largest prison that killed one correctional officer.

The News Journal of Wilmington reports jurors returned no guilty verdicts Monday for four inmates charged with murder and riot during the uprising at Vaughn Correctional Center near Smyrna in June 2017.

Twenty-six-year-old Abednego Baynes and 28-year-old Kevin Berry were acquitted of all charges after about five days of deliberation.

The jury could not reach unanimous verdicts on a riot and assault charge against 29-year-old John Bramble. Jurors also didn't reach a unanimous decision on murder charges and a riot charge against 26-year-old Obadiah Miller. The two were acquitted of all other charges.

Prosecutors must decide whether to retry Bramble and Miller. Deputy Attorney General John Downs declined comment as he exited the courthouse after the verdict.

___

2:25 p.m.

The trial for four inmates charged with murder in a 2017 Delaware fatal prison riot has ended with no convictions.

The News Journal of Wilmington reports jurors returned no verdicts Monday against John Bramble and Obadiah Miller for the riot at Vaughn Correctional Center near Smyrna. They also could not come to a unanimous decision for Miller's murder charge and assault charges for Bramble. They were acquitted of all other charges.

Abednego Baynes and Kevin Berry were acquitted of all charges.

Jurors reported earlier Monday that they were at an impasse on some charges.

Officer Steven Floyd died during the 18-hour standoff. The two other guards were released and a prison counselor was rescued by police.

Each defendant proclaimed his innocence from the stand during the four-week trial.

___

1:05 p.m.

Jurors in the trial of four inmates charged in a deadly Delaware prison riot have told the judge that they're at an impasse on some charges.

Delaware State News reports jurors passed a note Monday to Judge Jan Jurden. They are hearing charges against John Bramble, Abednego Baynes, Kevin Berry and Obadiah Miller.

The four are charged with riot, assault, kidnapping, conspiracy and murder in connection with the 2017 uprising at the James T. Vaughn Correctional Center near Smyrna. Corrections officer Lt. Steven Floyd died in the riot.

Jurden told jurors to continue deliberations but they can deliver the partial verdict later if necessary.

Defense attorney Tony Figliola said the jurors have deliberated for five days, and their note indicates they've decided 35 of the 40 counts.

___

Information from: The News Journal of Wilmington, Del., http://www.delawareonline.com

Source: Fox News National

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Martin Shkreli is Being Tortured in Prison

Though our media these days loves to complain about alleged injustices in our justice system, they’re absolutely giddy that Martin Shkreli is reportedly being locked up in solitary confinement. 

From New York Daily News:

“Pharmo Bro” Martin Shkreli won’t be doing much shot-calling anymore.

He was reportedly tossed into solitary confinement following a report last month that claimed he was still running his business from behind bars, according to a Forbes report Monday.

The Wall Street Journal described in early March how Shkreli used a contraband cell phone to make decisions at Phoenixus AG, including firing his handpicked chief executive, Kevin Mulleady. Shkreli later allegedly agreed to make it a suspension.

His alleged infraction is trying to run his business from prison. 

What a menace to society! 

What next, is he going to file his own taxes?!

Solitary confinement is a form of torture. While no one generally cares about murderers or violent criminals being subject to it, putting non-violent criminals in solitary confinement is sickening. 

The only reason Shkreli was locked up in the first place is because our overlords wanted some pleb to use as a scapegoat to atone for the sins of Big Pharma. 


Alex Jones presents a report by Infowars’ Greg Reese that explores any possible reasons why rapper Nipsey Hussle was gunned down in Los Angeles while creating a documentary that exposes a proven cure to HIV, a disease that many believe was created to target people of African origin around the world.

Shkreli was hounded for raising the price of a rare drug (which insurance companies had to pay for) in order to fund research on developing a better drug. He gave away the drug at a discount or for free to people who couldn’t afford it. 


[Embed begins at 1:48:20 with Shkreli giving his side of the story.]

He ran a small company, considering the industry, and this affected relatively few people. 

He was later brought up on totally unrelated charges, convicted of “fraud” and sentenced to seven years in prison. Even though none of his investors lost money, he was forced to issue a mea culpa and browbeat himself as though he was before a Soviet show trial.

Meanwhile, the Sackler family reportedly knowingly lied about the addictiveness of their drug Oxycontin to get millions of Americans hooked on synthetic heroin for profit. 

They made billions of dollars in the process and yet they’re all sitting pretty and are reportedly exploring bankruptcy in order to keep themselves from having to pay off the millions of families whose lives they’ve ruined.

As 2020 Democratic presidential candidate Andrew Yang said last week on the Jimmy Dore show, this family belongs in jail.

While Martin Shkreli is being tortured in prison through solitary confinement the Sacklers are living free.

Source: InfoWars

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South Korea’s Asiana Airlines share trading halted after auditor’s qualified opinion

FILE PHOTO: Aircraft flies over the head office of Asiana Airlines in Seoul
FILE PHOTO: Aircraft flies over the head office of Asiana Airlines in Seoul, July 7, 2013. REUTERS/Kim Hong-Ji/File Photo

March 22, 2019

SEOUL (Reuters) – The Korea Exchange on Thursday halted trading in shares of South Korea’s Asiana Airlines Inc through Monday after an auditor submitted a report pointing out a lack of evidence to judge the stock value of the airline.

“Based on the report of Asiana Airlines’ auditing firm Samil PwC, the scope of the audit was limited as the auditor could not obtain comprehensive evidence to decide the value of the airline,” an official at the Korea Exchange said on Friday.

Trading in shares of South Korea’s second-biggest carrier will be resumed on Tuesday, according to the Korea Exchange.

In response to the trading halt, Asiana Airlines said in a statement it will swiftly request the auditor resolve the reasons which caused the qualified opinion.

Shares of Asiana Airlines’ affiliates plunged on the bourse’s suspension of the carrier’s stock.

Asiana IDT Inc saw its shares fall as much as 13.5 percent by 0200 GMT, while budget affiliate Air Busan Co Ltd lost 2.3 percent.

The broader KOSPI market was trading up 0.09 percent.

(Reporting by Heekyong Yang; Additional reporting by Hayoung Choi; Editing by Christopher Cushing)

Source: OANN

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The Latest: Dutch: Utrecht shooting suspect has confessed

The Latest on the deadly tram shooting in the Dutch city of Utrecht (all times local):

3:25 p.m.

Dutch prosecutors say the suspect in the deadly Utrecht tram shooting has confessed and said that he acted alone.

Prosecution spokesman Frans Zonneveld told The Associated Press on Friday that the motive for Monday's shooting that left three people dead and three seriously wounded is still under investigation.

The 37-year-old suspect, Gokmen Tanis, faces charges including multiple murder with a terrorist intent.

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12:30 p.m.

An investigating judge on Friday extended by two weeks the detention of a man suspected of killing three passengers on a tram in the central Dutch city of Utrecht and seriously wounding three more, in what is being investigated as a likely terror attack.

Court spokeswoman Els de Stigter said that a judge ordered the suspect, identified by police as 37-year-old Gokmen Tanis, to remain in custody for a further 14 days as investigations continue.

In a statement, the court said that the judge ruled that "the suspicion is strong enough to detain the man for longer."

Tanis was arrested hours after the tram shooting Monday and police say he is being held on charges including multiple murder or manslaughter with terrorist intent.

Source: Fox News World

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Turkey seeks life terms for 16 activists over 2013 protests

Turkey's state-run news agency says prosecutors have charged a prominent philanthropist businessman and 15 other people with seeking to overthrow the government by allegedly supporting anti-government protests in 2013.

Anadolu Agency reported Wednesday that the prosecutors are seeking life prison terms for the all of those indicted. They include businessman Osman Kavala, exiled journalist Can Dundar and actor Mehmet Ali Alabora, who took part in the demonstrations.

The Turkish government has accused Kavala of financing and organizing the protests. He has been in pre-trial detention for more than a year.

The protests started with an environmental cause, protecting Gezi Part in central Istanbul. They quickly broadened into opposing the government.

A court in Istanbul must accept the prosecutors' indictment against the suspects before a trial can begin.

Source: Fox News World

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Karl Rove can’t see Bill Weld taking primary run past NH

The architect of former President George W. Bush’s presidential campaigns said Tuesday he isn’t optimistic about Bill Weld’s chances in the presidential election against his party mate, Donald Trump.

“It's hard to see how even if he was able to get a light, even in New Hampshire, that he could take it anywhere from there,” Karl Rove said on “Your World with Neil Cavuto.”

TRUMP'S UNPRECEDENTED 2020 CAMPAIGN WAR CHEST

Weld, the former governor of Massachusetts, was interviewed by Neil Cavuto earlier Tuesday about his intent to compete against President Trump for the Republican presidential nomination. Weld said he hoped to emulate the late Sen. John McCain’s scrappy presidential campaigns and succeed, as McCain did, in New Hampshire.

“John McCain made that work here twice. Not once but twice. He was the underdog both times,” Weld told Cavuto.

Weld has been a vocal critic of Trump and believes he could do a better job than the sitting president. "I can cut spending. I have the political will to do it,” Weld said.

Rove said that Weld could be “effective” in New Hampshire, but he also talked about the tough path ahead.

“Well look, he's probably right that as the former governor of Massachusetts, albeit some number of years ago ... he could be effective in New Hampshire because he's the next-door neighbor. But that's only the starting place,” Rove said.

LARA TRUMP ASKS WHY SOMEONE WOULD BE 'DUMB ENOUGH' TO PRIMARY CHALLENGE THE PRESIDENT

“And it's hard to see where he's going to get traction after that.”

Rove added, “Iowa, New Hampshire, Nevada, South Carolina, those are going to be ... the first four contests, and then about half of the delegates to the Republican National Convention are going to be chosen in the first month of the ... primaries next year.”

Source: Fox News Politics

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FILE PHOTO: An aerial photo looking north shows shipping containers at the Port of Seattle and the Elliott Bay waterfront in Seattle
FILE PHOTO: An aerial photo looking north shows shipping containers at the Port of Seattle and the Elliott Bay waterfront in Seattle, Washington, U.S. March 21, 2019. REUTERS/Lindsey Wasson/File Photo

April 26, 2019

NEW YORK (Reuters) – U.S. economic growth is running at a 1.1% pace in the second quarter as the gains in exports and inventories recorded in the first quarter are expected to reverse, Morgan Stanley economists said on Friday.

“Our preliminary expectations for growth in the second quarter sees large drags from net exports and inventories after their contributions in 1Q,” they wrote in a research note.

Gross domestic product increased at a 3.2% annualized rate in the first three months of the year, driven by a smaller trade deficit and the largest accumulation of unsold merchandise since 2015, the Commerce Department said earlier Friday.

(Reporting by Richard Leong)

Source: OANN

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FILE PHOTO: The Deutsche Bank headquarters are pictured in Frankfurt
FILE PHOTO: The Deutsche Bank headquarters are pictured in Frankfurt, Germany, April 25, 2019. REUTERS/Ralph Orlowski/File Photo

April 26, 2019

By Tom Sims

FRANKFURT (Reuters) – Within hours of the collapse of merger talks with Commerzbank, Christian Sewing scrambled to convince investors and employees that Deutsche Bank can stand on its own two feet.

The Deutsche Bank chief executive told staff, many of whom opposed a merger because of significant job losses, that while he had not been “skeptical” about the Commerzbank talks, he was cautious about the chances of success from the start.

And another top Deutsche Bank executive said on Friday that it had been Commerzbank that initiated the talks, suggesting there was no desperation on their part for a deal.

Commerzbank denied that version of events, ending the apparent truce between the normally highly competitive cross-town Frankfurt rivals over the past six weeks.

German hopes of creating a national banking champion able to challenge global competitors were finally dashed on Thursday when Deutsche Bank and Commerzbank ended their talks due to the risks of doing a deal, restructuring costs and capital demands.

For Sewing, the failure to clinch a deal has left the 49-year-old chief executive of Germany’s largest bank, who took over just over a year ago, with his back to the wall.

Credit ratings agency Standard & Poor’s, which downgraded Deutsche Bank last year, said on Friday that Deutsche Bank “will remain under strain”, adding that it “seems to have acknowledged the need to adjust its strategy”.

Under Sewing, a new leadership has tried to revive Deutsche Bank’s fortunes, but it has faced money laundering allegations and failed stress tests, as well as ratings downgrades.

At the heart of the debate over its future is whether it should focus its business on Germany and draw a line under its costly global ambitions to take on Wall Street’s big guns.

“MARKET PLAY”

Without a deal, Deutsche Bank now finds itself back at the mercy of equity and debt markets, with UBS analysts warning that in a “stress scenario” it could again “be forced into a ‘debt-driven capital increase’ even with solid capital ratios”.

“Deutsche remains a levered market play vulnerable to external events,” the UBS analysts said in a note.

Sewing, along with many analysts, believes Deutsche Bank can go it alone in the short-term, but will be counting on a turnaround in market conditions to do so in the long-run given its dependence on volatile investment bank earnings.

“To reach our return objective, we also need to see a revenue recovery in our more market-sensitive business,” Sewing said on Friday after reporting results.

“These revenues are available to us in better market conditions given our leading positions in many of these businesses, but we need to capture them,” he added.

Revenue at Deutsche Bank’s bond trading division fell 19 percent in the first quarter, it said on Friday, underscoring weakness at its investment bank.

If those earnings do not improve, Berlin’s desire to keep its biggest bank out of foreign hands may start to wane.

“Germany’s globally active companies need competitive financial institutions that can support them around the world,” German finance minister Olaf Scholz said on Thursday.

(Writing by Alexander Smith; Editing by Keith Weir)

Source: OANN

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Panama's former president Ricardo Martinelli yells to the media while arriving to the Electoral Court in Panama City
Panama’s former president Ricardo Martinelli reacts to the media while arriving to the Electoral Court in Panama City, Panama April 26, 2019. REUTERS/Erick Marciscano

April 26, 2019

PANAMA CITY (Reuters) – Panama’s electoral tribunal has ruled that former President Ricardo Martinelli, who is awaiting trial on wiretapping charges, cannot take part in elections on May 5 in which he was running for mayor of Panama City and a seat in Congress, a spokesman for Martinelli said on Friday.

“The ruling of the electoral tribunal has disqualified him as candidate,” said the spokesman, Eduardo Camacho, calling the court’s ruling a “political decision.”

Officials at the tribunal did not immediately confirm the ruling, which also was reported in local media in Panama.

Martinelli, a supermarket tycoon who ran the Central American country from 2009 to 2014, was extradited to Panama last June from the United States and charged with spying on 150 people, including politicians, union leaders and journalists.

A judge had previously cleared Martinelli to run for mayor of the capital. His critics vowed to appeal that decision.

(Reporting by Elida Moreno and Stefanie Eschenbacher; Editing by Bill Trott)

Source: OANN

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FILE PHOTO: Amazon boxes are seen stacked for delivery in the Manhattan borough of New York City
FILE PHOTO: Amazon boxes are seen stacked for delivery in the Manhattan borough of New York City, January 29, 2016. REUTERS/Mike Segar/File Photo

April 26, 2019

(Reuters) – Shares of Walmart, Target and other U.S. retailers fell on Friday as Amazon.com Inc unveiled a one-day delivery plan for its Prime members in a move to further disrupt the fiercely competitive retail landscape.

The e-commerce giant’s announcement on Thursday could cause other brands, manufacturers, retailers, and logistics companies to have to invest more aggressively to compete with Amazon and its delivery, analysts said.

Retailers in recent years have poured billions into ecommerce and faster shipping options and are trying to close the gap with Amazon.

“This is about making it more expensive to catch up and affirms our world view that only the largest and smartest will survive,” Bernstein analyst Brandon Fletcher said.

The move is expected to heighten consumer expectations on e-commerce delivery just like Amazon did with its two-day shipping option for members of its loyalty club Prime, noted analysts.

“The faster you ship, the more people buy,” RBC Capital Markets analyst Mark Mahaney said.

The challenge for non-Amazon players was that very few of the existing logistics and parcel delivery players now have the ability to do nationwide one-day delivery, Morgan Stanley analyst Brian Nowak said.

“And even fewer can do it at the vast scale and reasonable cost that AMZN would need for Prime delivery,” Nowak said in a note.

Walmart Inc’s shares fell about 3 percent, while Target Corp dropped about 5 percent in morning trade.

Shares of Kohl’s Corp, Macy’s Inc and Nordstrom Inc fell about 1 percent. Grocer Kroger Co was nearly 3 percent lower, while consumer electronics retailer Best Buy Inc dropped 2.1 percent.

(Reporting by Soundarya J and Akanksha Rana in Bengaluru; Editing by Maju Samuel)

Source: OANN

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A Chinese woman adjusts a Chinese national flag next to U.S. national flags before a Strategic Dialogue expanded meeting, part of the U.S.-China Strategic and Economic Dialogue (S&ED) in Beijing
A Chinese woman adjusts a Chinese national flag next to U.S. national flags before a Strategic Dialogue expanded meeting, part of the U.S.-China Strategic and Economic Dialogue (S&ED) held at the Diaoyutai State Guesthouse in Beijing, July 10, 2014. REUTERS/Ng Han Guan/Pool (CHINA – Tags: POLITICS BUSINESS)

April 26, 2019

By April Joyner

NEW YORK (Reuters) – Even as the lift from optimism over prospects for U.S.-China trade detente shows signs of wearing off for the wider U.S. stock market, upbeat sentiment around China’s economy could bolster shares of materials companies.

Shares of S&P 500 industrial and technology companies, which were buffeted by last year’s tit-for-tat tariffs as well as slowing global demand, have been very responsive to progress in U.S.-China trade relations and a strengthening Chinese economy. This year, those sectors have outpaced the ascent in the S&P 500, which reached a record closing high on Tuesday.

Materials stocks have not been as sensitive, however, even though they also stand to benefit as a stronger Chinese economy lifts global consumption and industrial output. As China has taken measures to stimulate its economy, its economic data have turned more upbeat. That in turn could aid global growth, which has flagged as a result of China’s cooldown.

“What we’re seeing is China spending more on stimulus: fiscal stimulus and monetary stimulus,” said Kristina Hooper, chief global market strategist at Invesco in New York. “That’s likely to be a positive for materials.”

The People’s Bank of China has cut banks’ reserve requirement ratio five times over the past year and is widely expected to ease policy further to spur lending and reduce borrowing costs. The stimulus appears to have boosted Chinese economic data, with factory activity growing in March for the first time in four months.

Yet so far in 2019, the S&P 500 materials index has underperformed the S&P 500 at large, rising just 11.9% compared with 16.7% for the benchmark index. Moreover, it is among the biggest decliners in the period since the S&P’s previous record closing level on Sept. 20. The materials index has fallen 7% over those seven months, versus a 5.2% gain for technology and a 3% loss for industrials. Only the energy index has dropped more over that period.

A trade agreement could serve as a catalyst for a bump in materials shares as a drag on China’s economy is lifted, some market strategists say. Some commodity prices, including those for copper and oil, have ascended this year as the prospects for the global economy have somewhat brightened.

“It all goes back to the global growth outlook,” said Andrea DiCenso, portfolio manager for alpha strategies at Loomis Sayles in Boston. “With the front run in hard data, we’re beginning to see a pretty significant rally.”

Additionally, a trade agreement is expected to include commitments from China to purchase higher quantities of U.S. products such as soybeans, which could benefit companies that make agricultural chemicals, including DowDuPont Inc and CF Industries Holdings Inc.

CF Industries is scheduled to report quarterly results after the bell on Wednesday, and DowDuPont is scheduled to report before the market open on Thursday.

To be sure, even with a trade agreement, some materials companies could face price pressures. Shares of Freeport-McMoRan Inc fell 10.1% on Thursday after the copper mining company posted a lower-than-expected profit as its production slipped and its costs rose.

A rollback of tariffs on Chinese imports, particularly aluminum and steel, would likely prompt a fall in some commodity prices, which could hurt prospects for certain materials companies, said Gene Goldman, chief investment officer at Cetera Investment Management in El Segundo, California.

Even so, those drawbacks may be outweighed by the support for global demand fostered by a U.S.-China trade agreement.

“You could see a number of companies with lowered expectations bring them back up as they talk favorably about the impact that a trade deal would have on them,” said Tim Ghriskey, chief investment strategist at Inverness Counsel in New York.

(Reporting by April Joyner; additional reporting by Sinéad Carew; editing by Jonathan Oatis)

Source: OANN

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