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Italy to hike 2020 deficit goal to around 2.1 percent: sources

FILE PHOTO: Italian Prime Minister Giuseppe Conte and Italian Economy Minister Giovanni Tria shake hands during a final vote on Italy's 2019 budget law at the Lower House of the Parliament in Rome
FILE PHOTO: Italian Prime Minister Giuseppe Conte and Italian Economy Minister Giovanni Tria shake hands during a final vote on Italy's 2019 budget law at the Lower House of the Parliament in Rome, Italy, December 29, 2018. REUTERS/Remo Casilli/File Photo

April 7, 2019

By Gavin Jones and Giuseppe Fonte

ROME (Reuters) – Italy will probably raise its 2020 budget deficit goal to around 2.1 percent of gross domestic product when it publishes new targets this week, three government sources told Reuters, and the figure could be hiked again after the summer.

Italy, whose public debt is proportionally the highest in the euro zone after Greece’s, is struggling to hold its finances in check while keeping costly promises made by the populist ruling coalition.

The new forecasts will be presented in the annual Economic and Financial Document (DEF) due to be issued by Wednesday, which sets the framework for the 2020 budget.

The current 2020 deficit target, set in December, is 1.8 percent of GDP, down from 2.04 percent this year, but a recent economic downturn means both years will have to be revised up.

Next year’s GDP growth will be trimmed to just below 1 percent from the current forecast of 1.1 percent, two of the sources said. They asked not to be named because they are not authorized to talk about the DEF.

The numbers in the DEF will not be finalised before the end of ongoing talks between the ruling coalition of the anti-establishment 5-Star Movement and the right-wing League.

The government will update its targets again in September, when it will have to find a way to avoid some 23 billion euros ($25.81 billion) of hikes in sales tax scheduled to take effect in 2020, but which the ruling parties have promised to scrap.

Claudio Borghi, the League’s economics spokesman, suggested last month the government might cancel the sales tax hikes simply by increasing public borrowing, which would raise the deficit above the EU’s 3 percent of GDP ceiling.

This is sure to be resisted by Economy Minister Giovanni Tria, an academic who is not a member of either ruling party.

Promised tax cuts, championed in particular by the League, add to Tria’s difficulties in keeping a lid on the deficit.

The government will gradually lower income tax and simplify the system by reducing the number of tax bands from five to two, and cut the company tax rate to 20 percent, according to a draft National Reform Programme seen by Reuters, which will be published alongside the DEF.

This year’s GDP growth forecast will be probably be cut to 0.3 percent or 0.4 percent from 1.0 percent, and the deficit will be raised to around 2.3 percent, Reuters reported on April 3, citing government sources.

The DEF will attempt to set the public debt on a declining path from last year’s record of 132.1 percent of GDP, Tria said last week, though the economic slowdown makes the task harder.

On Tuesday statistics bureau ISTAT will issue revised debt figures for 2018 and 2017, which are expected to show an even higher debt-to-GDP ratio.

($1 = 0.8913 euros)

(Writing by Gavin Jones; Editing by Catherine Evans)

Source: OANN

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Democrats Divided on Hate Debate

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Italy's checking if NKorean envoy's daughter was forced back

Italy's foreign minister says Italy is investigating whether the daughter of a former North Korean diplomat was forcibly returned to Pyongyang as her parents apparently tried to defect.

Enzo Moavero Milanesi was responding Wednesday to demands by Italian lawmakers to know the fate of the 17-year-old girl.

Her father, Jo Song Gil, had been serving as North Korea's acting ambassador to Italy. Last month, South Korea's spy agency told South Korean lawmakers that Jo went into hiding with his wife in Nov. 2018, just as his posting to Italy was ending.

Jo's disappearance raised the possibility of the defection of a senior North Korean official. His whereabouts are unknown and Italy has only said that Jo hadn't requested asylum.

South Korean media have reported Jo was under Italian government protection.

Source: Fox News World

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Members of Congress allegedly sexually harassed night shift staff: report

Members of Congress allegedly sexually harassed night shift custodial staff as they cleaned their offices, according to a recent inspector general’s report on sexual harassment within the Architect of the Capitol.

The IG report, first reported by Roll Call, examines the Architect of the Capitol’s (AOC) response to sexual harassment complaints over the last 10 years. It includes allegations that workers endured sexual harassment by members of Congress and their staff,

STUDENT ACCUSES FORMER GOVERNOR OF SEXUAL HARASSMENT

“Staff have reported overhearing harassing conversations, being the target of harassment, and observing materials such as pornography, but do not speak up due to fear of losing their jobs,” the report says.

It found that it found 57 incidents of sexual harassment reported since 2008, 44 percent of which it says were substantiated. The report notes that it is a relatively low number, but the perception remains that harassment is a problem.

The IG said that it found “reluctance to cooperate” with the inquiry from AOC, and cited it as evidence of “cultural resistance and lack of transparency at all levels.” It blasted an “outdated cultural attitude” in some departments, which it said has set a tone of “permissibility.”

In its introduction the IG report says that the results of the inquiry were “primarily positive” and said that the majority of identified gaps were already receiving attention of officials.

Roll Call reported that Congress embarked on a mission in 2017-8 to overhaul the reporting of harassment for staffers on Capitol Hill, discussing in particular the imbalance of power that can occur when a lawmaker harasses a low-level employee.

CLICK HERE TO GET THE FOX NEWS APP 

“No one had an answer when we asked ‘What happens if the harasser is a member of Congress?’” one employee told the IG. “This was not a hypothetical question. It happens.”

The outlet notes that dozens of lawmakers reportedly sleep in their offices rather than rent an apartment, some sleep of mattresses, futons and murphy bed -- meaning that night staff can possibly encounter lawmakers in states of undress.

Source: Fox News Politics

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Dear Mexico Stop Risking Your Child’s Well-being For An American Illusion

Immigration is a tough topic that takes, compassion, precision, and honesty. With that being said it is time to shift the perception that liberals are trying to save immigrant children from “evil republicans” who want to throw them in cages and holocaust 2.0 the world. (Sarcasm) The reality is,  U.S Border control is reporting that […]

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South Africa’s Denel may wind down manufacturing for Airbus A400M

FILE PHOTO: An Airbus A400M aircraft flies during a display on the first day of the 52nd Paris Air Show at Le Bourget airport near Paris
FILE PHOTO: An Airbus A400M aircraft flies during a display on the first day of the 52nd Paris Air Show at Le Bourget airport near Paris, France, June 19, 2017. REUTERS/Pascal Rossignol/File Photo

March 30, 2019

JOHANNESBURG (Reuters) – South African state arms company Denel is in talks with Airbus about winding down production of parts for the European planemaker’s A400M military aircraft, Denel said on Saturday.

Denel, a cornerstone of South Africa’s once mighty defense industry, is battling to emerge from a financial and operational crisis. In February it said it could sell stakes in some divisions as part of a strategy to return to profits within two years.

The company has also been trying to renegotiate onerous contracts and exit parts of its business which are no longer viable, after making a 1.7 billion rand ($117 million) loss in the 2017/18 financial year.

Denel said it was yet to finalize terms with Airbus for the winding down of production for the A400M.

“The two companies agreed that the continued manufacturing of aircraft parts by Denel is no longer sustainable in its current form,” Denel said in a statement. “Alternative options are now being considered between the two parties.”

Denel will try to minimize the impact on jobs at its Aeronautics division, it added.

(Reporting by Alexander Winning; Editing by David Holmes)

Source: OANN

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Michael Cohen testifies about Trump, Roger Stone-WikiLeaks plot at House hearing — live blog

Michael Cohen, President Trump's former attorney, testifies before the House Oversight and Reform Committee on Wednesday, and is expected to accuse the commander-in-chief of knowing his long-time adviser Roger Stone was reaching out to WikiLeaks about the publication of stolen Democratic National Committee emails.

Cohen, who released his prepared opening statement ahead of his House hearing, apparently will not claim Trump directed those communications.

READ: MICHAEL COHEN'S PREPARED OPENING STATEMENT BEFORE HOUSE OVERSIGHT COMMITTEE

"Questions have been raised about whether I know of direct evidence that Mr. Trump or his campaign colluded with Russia," Cohen will testify. "I do not. I want to be clear. But, I have my suspicions."

Trump, who is in Hanoi, Vietnam, for his second meeting with North Korean leader Kim Jong Un, tweeted that Cohen was "lying in order to reduce his prison time."

CLICK HERE TO GET THE FOX NEWS APP

Cohen was disbarred in New York on Tuesday -- the same day he testified behind closed doors before the Senate Intelligence Committee. He is slated to report to prison next month to serve three years time.

Fox News's Gregg Re contributed to this report.

Follow FoxNews.com's live blog below. Mobile users click here.

Source: Fox News Politics

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FILE PHOTO: Customers shop in a Sainsbury's store in Redhill
FILE PHOTO: Customers shop in a Sainsbury’s store in Redhill, Britain, March 27, 2018. REUTERS/Peter Nicholls/File Photo

April 26, 2019

By James Davey

LONDON (Reuters) – With Sainsbury’s dream of creating Britain’s biggest supermarket group in tatters, its chastened CEO Mike Coupe needs to reassure investors he has the plan to arrest a sales decline when he presents annual results next week.

Britain’s competition regulator blocked Sainsbury’s 7.3 billion pound ($9.4 billion) takeover of Walmart’s Asda on Thursday, saying the deal would increase prices. Sainsbury’s shares fell 5 percent and are down 22 percent over the last three months.

For Sainsbury’s fourth quarter to March 9 analysts are on average forecasting a 1.6 percent fall in like-for-like sales, which would follow 1.1 percent decline over the Christmas period.

Monthly industry data from researcher Kantar has also shown Sainsbury’s as the weakest performer of the big four grocers this year and this month it lost its status as Britain’s No. 2 supermarket group by market share to Asda.

While Sainsbury’s has struggled, market leader Tesco has gained momentum, this month reporting a 34 percent jump in full year profit.

Prohibition of the deal was a major blow to Coupe, its architect and Sainsbury’s boss since 2014.

Martin Scicluna became Sainsbury’s chairman last month and when bedded-in may decide that if the group needs a major shake-up it is best carried out by a new leader.

Much will depend on the attitude of 22 percent shareholder the Qatar Investment Authority, which has so far declined to comment, as well as Coupe’s own appetite to continue after 15 years at the group.

THE RIGHT STRATEGY?

Coupe said on Thursday he was confident Sainsbury’s was pursuing the right strategy.

That was a clear indication that Wednesday’s results statement will not include radical changes to the group’s plans, such as a big margin reset — sacrificing profit to drive sales.

However, sources connected to Sainsbury’s said Coupe would likely acknowledge that more needs to be done on prices, so the supermarket business can better compete with its big four rivals – Tesco, Asda and No. 4 Morrisons – as well as German-owned discounters Aldi and Lidl.

Coupe’s strategy is based on differentiating Sainsbury’s food offer, growing its general merchandise, clothing business and bank, while investing in convenience and online channels.

Some analysts believe major change is needed.

HSBC analyst David McCarthy reckons Sainsbury’s needs a margin reset, should allocate more space for core lines and needs to drive better store standards. He said Sainsbury’s might consider closing down space in some of its larger stores and reducing its non-food offer.

For the full 2018-19 year analysts are on average forecasting a pretax profit of 626 million pounds, up from 589 million pounds in 2017-18 – a second straight year of profit growth. A full year dividend of 10.5 pence per share is forecast versus 10.2 pence last time.

Bank and lawyer fees related to the proposed combination with Asda were 17 million pounds in the first half and have reportedly jumped to around 50 million pounds.

(Reporting by James Davey; Editing by Keith Weir)

Source: OANN

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Arizona Gov. Doug Ducey rejected demands from a secular group to remove posts on social media where he sent Easter greetings and cited a Bible verse, offering to provide copies of the Constitution to his critics.

Ducey, who’s a practicing Catholic, has been bombarded with calls from Secular Communities for Arizona to remove the post, which included a cross, a Bible verse, and the phrase, “He is risen.”

ARIZONA’S GOP GOVERNOR WAGING WAR AGAINST OCCUPATIONAL LICENSING LAWS

The group argued the posts crossed a line into government sponsorship of religious messages and was unconstitutional.

The governor fired back at the group, saying in a tweet that he will never remove the posts or other religious ones.

“We won’t be removing this post. Ever. Nor will we be removing our posts for Christmas, Hanukkah, Rosh Hashanah, Palm Sunday, Passover or any other religious holiday,” he tweeted. “We support the First Amendment, and are happy to provide copies of the Constitution to anyone who hasn’t read it.”

Dianne Post, an attorney for the secular group, told the Arizona Republic “elected officials should not use their government position and government property to promote their religious views.”

LICENSE REQUIRED TO REPAIR DOORS? REGS SPARK HEATED DEBATE IN ARIZONA

She added the courts have repeatedly “struck down symbolism that unites government with religion,” adding that Ducey’s office must “represent and protect the rights of all residents of Arizona, including those who do not believe in a monotheistic God or any gods at all.”

Many congratulated Ducey for not backing down amid the pressure, though some Facebook users sided with the secular group and criticized the governor on his original post.

“Why do you use a government platform to bring up your personal religion?” asked one person. “Are there no citizens in your jurisdiction that believe differently from you?”

Another stipulated that the post was somewhat discriminatory. “Great sensitivity, Doug. That’s the last time this Jew votes for you,” one person wrote.

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Ducey wished in a statement Arizonans last week a “blessed and joyful Easter and Passover weekend.”

The Associated Press contributed to this report.

Source: Fox News Politics

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FILE PHOTO: FILE PHOTO: A Canadian dollar coin commonly known as the
FILE PHOTO: A Canadian dollar coin, commonly known as the “Loonie”, is pictured in this illustration picture taken in Toronto, Ontario, Canada, January 23, 2015. REUTERS/Mark Blinch/File Photo/File Photo

April 26, 2019

OTTAWA (Reuters) – Canada posted a budget surplus in the first 11 months of the 2018/19 fiscal year compared to a deficit the year earlier as revenues increased mostly on higher tax incomes, the finance department said on Friday.

The surplus for April-February was C$3.1 billion, compared to a deficit of C$6 billion in the same 2017/18 period. Revenues climbed by 8.5 percent, mainly due to higher tax receipts, while program expenses rose by 4.8 percent.

The surplus for February was C$4.3 billion compared with C$2.8 billion in February 2018. Revenues jumped by 12.2 percent while program expenses posted a more modest 6.9 percent gain.

Last month, the Liberals unveiled their new budget, projecting a C$14.9 billion deficit in 2018/19, with the deficit rising to C$19.8 billion in fiscal 2019/20.

(Reporting by Julie Gordon in Ottawa; Editing by Chizu Nomiyama)

Source: OANN

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President Trump said Friday he would beat Joe Biden “easily” in the 2020 presidential election, suggesting the former vice president could not have enough “energy” to hold the post—taking an apparent swipe at his age.

The president, departing the White House, was asked about Biden’s entrance into the Democratic primary field. Biden announced his presidential bid early Thursday morning, marking his third attempt at the White House.

JOE BIDEN OFFICIALLY LAUNCHES 2020 PRESIDENTIAL BID

“I think we’d beat him easily,” Trump told reporters Friday.

Trump, 72, said he feels “young” and is ready for 2020, and another term for his administration.

“I feel like a young man. I am a young, vibrant man,” Trump said. “I look at Joe, I don’t know about him.”

The president’s comments seemingly were a shot at the age of Biden, who is 76.

BIDEN ENTERS WHITE HOUSE RACE WITHOUT OBAMA’S ENDORSEMENT

“I would never say anyone’s too old,” Trump said. “I know they’re all making me look very young both in terms of age and in terms of energy.”

Biden became the 20th candidate to join the crowded Democratic primary field Thursday. But Biden is not the oldest in the pack. Sen. Bernie Sanders, I-Vt., is 77 and Sen. Elizabeth Warren, D-Mass., is 69.

Should Trump be re-elected, he would be 74 on Jan. 20, 2021—Inauguration Day. Should the presidency go to one of the elder Democrats in the field—Biden would be 78; Sanders would be 79; and Warren would be 71.

Meanwhile, in a wide-ranging interview on “Hannity” Thursday night, Trump dismissed Biden’s candidacy, nicknaming him “Sleepy Joe,” and saying he’s “not the brightest bulb.” Trump also said that while the former vice president has name recognition, he won’t “be able to do the job.”

Source: Fox News Politics

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Venezuela's Foreign Affairs Minister Jorge Arreaza talks to the media during a news conference in Caracas
Venezuela’s Foreign Affairs Minister Jorge Arreaza talks to the media during a news conference in Caracas, Venezuela April 8, 2019. REUTERS/Manaure Quintero

April 26, 2019

WASHINGTON (Reuters) – The U.S. Treasury Department on Friday imposed sanctions on Venezuela’s foreign minister and a Venezuelan judge, according to a statement on the department’s website.

Foreign Minister Jorge Arreaza and a judge, Carol Padilla, were targeted over the ongoing crisis in Venezuela, the Treasury Department said, the latest in a list of officials blacklisted by U.S. authorities for their role in President Nicolas Maduro’s government.

(Reporting by Susan Heavey, Makini Brice and Lesley Wroughton; Editing by Chizu Nomiyama)

Source: OANN

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