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Jennifer Garner leads People magazine’s beautiful list

FILE PHOTO: Actor Jennifer Garner speaks during the 32nd American Cinematheque Award ceremony honoring Bradley Cooper in Beverly Hills
FILE PHOTO: Actor Jennifer Garner speaks during the 32nd American Cinematheque Award ceremony honoring Bradley Cooper in Beverly Hills, California, U.S., November 29, 2018. REUTERS/Danny Moloshok/File Photo

April 24, 2019

LOS ANGELES (Reuters) – Actress, businesswoman and children’s advocate Jennifer Garner is featured on the cover of People magazine’s annual beautiful issue, the magazine said on Tuesday.

People said it chose the 47-year-old “Alias” actress for balancing her career and charitable work with the raising of her three children with ex-husband Ben Affleck.

In addition to film and TV roles, Garner co-founded organic baby food company Once Upon a Farm and works as an ambassador for advocacy group Save the Children.

Garner told People that she never considered herself “one of the pretty girls” when she was growing up in West Virginia. She described her style at the time as “band geek-chic.”

Her current “uniform” more often than not is workout clothes, or jeans, a sweater and sneakers, if she is not dressed up for a red carpet or photo shoot.

When she does get glammed up, Garner said her kids will ask “‘Can you wash your face? Can you put your hair in a ponytail and put your glasses and sweats on?'”

“And I see the compliment in that,” she said. “They just want me to look like Mom.”

People’s beautiful issue will hit newsstands on Friday.

(Reporting by Lisa Richwine; Editing by Sandra Maler)

Source: OANN

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Chinese EV maker BYD says 2018 preliminary profit down 31 percent, blames competition

A bus, manufactured by China's BYD, is seen as part of the new fleet of electric buses for public transport in Santiago
A bus, manufactured by China's BYD, is seen as part of the new fleet of electric buses for public transport in Santiago, Chile November 28, 2018. Picture taken November 28, 2018. REUTERS/Rodrigo Garrido

February 27, 2019

HONG KONG (Reuters) – Chinese electric vehicle maker BYD Co Ltd reported preliminary net profit for 2018 that was 31.4 percent lower than a year earlier, pinning the blame on intensifying competition in the world’s biggest auto market.

The result comes as China’s market for new energy vehicles is booming, but profit in the sector is being squeezed by competition between established automakers and a multitude of startups, as well as the government’s reduction of subsidies.

Profit likely fell to 2.79 billion yuan ($416.5 million) from 4.07 billion yuan, as slowing auto sales across China increased competitive activity among car makers and hit the profitability of the fuel vehicle business, BYD said in a filing to the Hong Kong stock exchange late on Tuesday.

The automaker, backed by U.S. investor Warren Buffett, also said orders and profit in its smartphone component and assembly business were affected by weak demand and competition.

It also saw deeper loss in its photovoltaic business due to change in government policy and provision for impairment, while an increase in financing expenses hit overall profitability.

Total operating revenue increased 22.8 percent to 130.06 billion yuan.

The Shenzhen-based firm reported rapid growth in sales of new energy vehicles – those not powered solely by internal combustion – as the sector develops at pace and also due to the firm’s new product cycle. It said it ranked first in global sales volume of such vehicles for the fourth consecutive year.

BYD in October said it expected 2018 profit to drop almost a third due to increased competition. It is expected to report final full-year figures in late March, as per last year.

The price of BYD’s Hong Kong-listed shares was down 0.3 percent in early trade, versus a 0.2 percent rise in the benchmark Hang Seng Index.

($1 = 6.6980 Chinese yuan renminbi)

(Reporting by Donny Kwok; Editing by Christopher Cushing)

Source: OANN

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Nicaragua government, opposition to discuss prisoner release

Nicaragua's government and opposition began negotiating Thursday how to carry out the release of hundreds of political prisoners arrested in the past year of unrest.

President Daniel Ortega's government announced Wednesday it would free the prisoners within 90 days in exchange for the lifting of external sanctions.

The prisoner release is the first of five agenda items negotiators plan to tackle after several fitful weeks of meetings to establish ground rules for talks on resolving Nicaragua's political divisions.

The Committee for the Liberation of Political Prisoners, which counts about 640 such prisoners, said in a statement Thursday that the prisoners should be freed within 15 days and that the negotiations should not begin until all are released.

Both sides have agreed to ask the International Red Cross to monitor the prisoner release, but neither the government nor the opposition Civic Alliance have put a number on how many prisoners would be released.

The Organization of American States representative Luis Rosadilla and the Vatican's ambassador to Nicaragua Waldemar Sommertag have been observing the talks.

U.S. Ambassador to Nicaragua Kevin Sullivan via Twitter applauded the agreement to release the prisoners as a "positive step." He said the agenda for the talks presented a path back to democracy for the country.

Negotiators also planned to discuss electoral reforms, strengthening citizens' rights and the safe return of more than 52,000 people who have left the country since last April, according to opposition politician Jose Pallais.

Once there is agreement on all points, the Civic Alliance would call on the international community to suspend sanctions against the government.

Also Thursday, the United Nations Human Rights Council adopted a resolution pushed by Argentina condemning human rights abuses in Nicaragua and calling for monitoring by the Office of the High Commissioner for Human Rights.

The Inter-American Commission on Human Rights also included Nicaragua for the first time in a quarter century among the countries that require special monitoring because of the deterioration of the human rights situation. It has counted at least 325 killed and 2,000 wounded.

Source: Fox News World

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Lithium executive pleads not guilty in biggest U.S. college admissions scandal

A plaque is pictured at University of Southern California in Los Angeles
A plaque is pictured at University of Southern California in Los Angeles, California, U.S., March 13, 2019. REUTERS/Mario Anzuoni

March 15, 2019

By Ross Kerber

BOSTON (Reuters) – The temporarily ousted chief executive of Advantage Lithium Corp pleaded not guilty on Friday to charges of participating in the largest college-admissions fraud scheme in U.S. history.

David Sidoo became the first of the 33 parents charged in the scam to plead not guilty. Prosecutors said he paid $200,000 to the scheme’s accused mastermind, William “Rick” Singer, to arrange for people to take the SAT admissions test for his two sons.

Some 50 people including prominent executives, Hollywood actresses Lori Loughlin and Felicity Huffman and college coaches have been charged in the scheme. Prosecutors say Singer made some $25 million over eight years by bribing coaches and arranging for phony test-takers to secure clients’ children spots at elite universities including Yale, Georgetown and Stanford.

Sidoo, who was temporarily replaced as CEO by Advantage Lithium’s board of directors on Thursday, declined to speak to a reporter as he entered the courtroom in Boston federal court.

Singer on Tuesday pleaded guilty to masterminding the scheme, which highlighted the lengths that wealthy and powerful Americans would go to cheat the high-stakes and high-pressure college admissions system.

One of the schools involved, the University of Southern California, already has rescinded admissions offers to six students involved in the scheme and said it will review what actions to take against students already admitted who took part.

Advantage Lithium is in the process of developing a potential Argentine lithium mine. Lithium is a key ingredient in batteries for electric cars.

Others prominent executives accused in the scheme include Douglas Hodge, former executive of investment firm PIMCO; Manuel Henriquez, who resigned as CEO of specialty finance company Hercules Capital Inc; Gordon Caplan, who has been placed on leave from his post as co-chairman of the global law firm Willkie Farr & Gallagher; and TPG Capital private equity partner William McGlashan Jr., who was fired by the firm on Thursday.

Loughlin was dropped by the company that owns the Hallmark cable channel and LVMH’s Sephora beauty chain ended a sponsorship deal with her daughter, Olivia, as a result of the charge. Loughlin’s husband, fashion designer Mossimo Giannulli, also has been charged.

Both Singer and the parents alleged to have paid into the scheme could face up to 20 years in prison if convicted.

(Reporting by Ross Kerber and Nate Raymond, writing by Scott Malone; Editing by Steve Orlofsky and Bill Trott)

Source: OANN

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GM says no cut in Chevy Bolt sticker price as U.S. tax credit for EVs drops

FILE PHOTO: The GM logo in Warren Michigan
FILE PHOTO: The GM logo is seen in Warren, Michigan, U.S. on October 26, 2015. REUTERS/Rebecca Cook/File Photo

March 28, 2019

By David Shepardson

(Reuters) – General Motors Co on Thursday said it has no plan to cut the sticker price on its electric Chevrolet Bolt sedan after a federal tax credit drops by half to $3,750 on Monday.

Last year, GM became the second automaker in the United States to hit the 200,000 cumulative electric vehicles sales figure, which triggers a phaseout of the $7,500 federal tax credit over 15 months.

GM has laid out an aggressive electric vehicle strategy, vowing to bring at least 20 EV models to market by 2023.

In January, Tesla Inc cut the prices of its EVs by $2,000 after its EV tax credit fell from $7,500 to $3,750 after it hit the 200,000 EV sales milestone.

Asked why GM is not cutting the price to account for the lower tax credit, spokesman Jim Cain said “it is easier to react to the market by working with dealers and your marketing team than it is to change sticker prices.”

Tesla aggressively urged buyers to take advantage of the full credit shortly before it expired. “Reminder to US buyers that the $7500 tax credit cuts in half in 5 days!” Chief Executive Elon Musk tweeted in December.

Last week, GM Chief Executive Mary Barra announced the company would invest $300 million in a suburban Detroit assembly plant, adding 400 jobs to build a new Chevrolet EV based on the Bolt platform. Barra said GM planned to boost EV marketing soon, but made no mention of the tax credit phaseout.

Michelle Krebs, an analyst at AutoTrader, calls government incentives a big factor in consumer purchase decisions. “Tax credits make a difference,” she said.

GM will offer new incentives next week for EVs as the current monthly incentives expire, the company said.

GM is currently offering an incentive on Bolt EVs of 14 percent of the suggested retail price, Cain said.

Cain said GM is “sensitive to affordability” of EVs for customers but declined to specify what future incentives GM will offer.

Both GM and Tesla have been lobbying Congress for more than a year to extend or expand the EV tax credit.

GM’s credit drops to $1,875 in October and will completely disappear by April 2020, while Tesla’s credit falls to $1,875 in July and expires at the end of the year.

GM has been exporting Bolt EVs to both South Korea and Canada, which has impacted U.S. sales

GM sold 18,000 Bolts in the United States last year, down nearly 23 percent over 2017. The No. 1 U.S. automaker ended production of its plug-in electric Chevrolet Volt in February.

(Reporting by David Shepardson; Editing by Tom Brown)

Source: OANN

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UNC obtains warrants for suspects in memorial vandalism

Police have obtained arrest warrants for two people accused of vandalizing a monument to people of color at the flagship campus of the University of North Carolina.

UNC police issued a statement late Monday that officers have warrants for two people but did not disclose their names. Separate incident reports list misdemeanor property damage as the crime.

Police had announced no arrests as of Tuesday morning.

UNC-Chapel Hill interim Chancellor Kevin Guskiewicz has said that "racist language" defaced the Unsung Founders Memorial, which honors people of color. A separate art installation was also defaced.

The incident reports say the vandalism to the Unsung Founders Memorial was discovered Sunday around 1:40 a.m., and the other vandalism several hours later.

The memorial has been cleaned, and police have set barriers around it.

___

Information from: The News & Observer, http://www.newsobserver.com

Source: Fox News National

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HUD Looks to Crack Down on Illegals Getting Housing Subsidies

The Trump administration wants to crack down on illegal immigrants using government services by strengthening checks around federally subsidized housing.

The Washington Post reported Thursday the Department of Housing and Urban Development will beef up its verification process for people who request housing help.

"We need to make certain our scarce public resources help those who are legally entitled to it," HUD Secretary Ben Carson said, according to the Post. "Given the overwhelming demand for our programs, fairness requires that we devote ourselves to legal residents who have been waiting, some for many years, for access to affordable housing."

Illegal aliens are not eligible to receive subsidies for federal housing programs, but families comprised of both illegal and legal immigrants are eligible — as long as someone with a legal status serves as the head of household.

HUD believes there are roughly 32,000 households illegally taking advantage of federal housing subsidies, the Post reported.

The Trump administration is trying to close loopholes and crack down on illegal immigration, particularly as several caravans from Central America make the long journey from their home countries to the U.S. and ask for asylum.

Source: NewsMax America

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FILE PHOTO: Supporters of the Spain's far-right party VOX wave Spanish flags as they attend an electoral rally ahead of general elections in the Andalusian capital of Seville
FILE PHOTO: Supporters of the Spain’s far-right party VOX wave Spanish flags as they attend an electoral rally ahead of general elections in the Andalusian capital of Seville, Spain April 24, 2019. REUTERS/Marcelo del Pozo/File Photo

April 26, 2019

By John Stonestreet and Belén Carreño

MADRID (Reuters) – Spain’s Vox party, aligned to a broader far-right movement emerging across Europe, has become the focus of speculation about last minute shifts in voting intentions since official polling for Sunday’s national election ended four days ago.

No single party is anywhere near securing a majority, and chances of a deadlocked parliament and a second election are high.

Leaders of the five parties vying for a role in government get final chances to pitch for power at rallies on Friday evening, before a campaign characterized by appeals to voters’ hearts rather than wallets ends at midnight.

By tradition, the final day before a Spanish election is politics-free.

Two main prizes are still up for grabs in the home straight. One concerns which of the two rival left and right multi-party blocs gets more votes.

The other is whether Vox could challenge the mainstream conservative PP for leadership of the latter bloc, which media outlets with access to unofficial soundings taken since Monday suggest could be starting to happen.

The right’s loose three-party alliance is led by the PP, the traditional conservative party that has alternated in office with outgoing Prime Minister Pedro Sanchez’s Socialists since Spain’s return to democracy in the 1970s.

The PP stands at around 20 percent, with center-right Ciudadanos near 14 percent and Vox around 11 percent, according to a final poll of polls in daily El Pais published on Monday.

Since then, however, interest in Vox – which will become the first far-right party to sit in parliament since 1982 – has snowballed.

It was founded in 2013, part of a broader anti-establishment, far-right movement that has also spread across – among others – Italy, France and Germany.

While it is careful to distance itself from the ideology of late dictator Francisco Franco, Vox’s signature policies include repealing laws banning Franco-era symbols and on gender-based violence, and shifting power away from Spain’s regional governments.

TRENDING

According to a Google trends graphic, Vox has generated more than three times more search inquiries than any other Spanish political party in the past week.

Reasons could include a groundswell of vocal activist support at Vox rallies in Madrid and Valencia, and its exclusion from two televised debates between the main party leaders, on the grounds of it having no deputies yet in parliament.

Conservative daily La Vanguardia called its enforced absence from Monday’s and Tuesday’s debates “a gift from heaven”, while left-wing Eldiario.es suggested the PP was haemorrhaging votes to Vox in rural areas.

Ignacio Jurado, politics lecturer at the University of York, agreed the main source of additional Vox votes would be disaffected PP supporters, and called the debate ban – whose impact he said was unclear – wrong.

“This is a party polling over 10 percent and there are people interested in what it says. So we lose more than we win in not having them (in the debates),” he said

For Jose Fernandez-Albertos, political scientist at Spanish National Research Council CSIC, Vox is enjoying the novelty effect that propelled then new, left-wing arrival Podemos to 20 percent of the vote in 2015.

“While it’s unclear how to interpret the (Google) data, what we do know is that it’s better to be popular and to be a newcomer, and that Vox will benefit in some form,” he said.

For now, the chances of Vox taking a major role in government remain slim, however.

The El Pais survey put the Socialists on around 30 percent, making them the frontrunners and likely to form a leftist bloc with Podemos, back down at around 14 percent.

The unofficial soundings suggest little change in the two parties’ combined vote, or the total vote of the rightist bloc.

That makes it unlikely that either bloc will win a majority on Sunday, triggering horse-trading with smaller parties favoring Catalan independence – the single most polarizing issues during campaigning – that could easily collapse into fresh elections.

(Election graphic: https://tmsnrt.rs/2ENugtw)

(Reporting by John Stonestreet and Belen Carreno, Editing by William Maclean)

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FILE PHOTO: The logo of the OPEC is seen at OPEC's headquarters in Vienna
FILE PHOTO: The logo of the Organisation of the Petroleum Exporting Countries at OPEC’s headquarters in Vienna, Austria December 5, 2018. REUTERS/Leonhard Foeger/File Photo

April 26, 2019

JOINT BASE ANDREWS, Md. (Reuters) – U.S. President Donald Trump said on Friday he called the Organization of the Petroleum Exporting Countries and told the cartel to lower oil prices.

“Gasoline prices are coming down. I called up OPEC, I said you’ve got to bring them down. You’ve got to bring them down,” Trump told reporters.

(Reporting by Roberta Rampton; Writing by Makini Brice; Editing by Chizu Nomiyama)

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Sonia Bompastor, director of the Olympique Lyonnais womenÕs Youth Academy, leads a training at the OL Academy near Lyon
Sonia Bompastor, director of the Olympique Lyonnais womenÕs Youth Academy, leads a training at the OL Academy in Meyzieu near Lyon, France, April 16, 2019. REUTERS/Emmanuel Foudrot

April 26, 2019

By Julien Pretot

MEYZIEU, France (Reuters) – Olympique Lyonnais president Jean-Michel Aulas was wringing out his women’s team shirts in the locker room on a rainy London day eight years ago when he decided it was time to take gender equality more seriously.

It was halftime in their Champions League semi-final second leg against Arsenal at Meadow Park with 507 fans watching and Aulas realized that his players did not have a another kit for the second half.

“Next time, there will be a second set just like for the men, that’s how it’s going to work from now on,” he said.

Lyon have since won five Champions League titles to become the most successful women’s team in Europe and recently claimed a 13th consecutive domestic crown.

They visit Chelsea on Sunday in the second leg of their Champions League semi-final, with a fourth straight title in their sights.

At the heart of their achievements is a pervasive ethos that promotes gender equality throughout the club, starting in the youth academy.

In 2013, Aulas appointed former Lyon and France player Sonia Bompastor as head of the Women’s Academy — the female equivalent of one of France’s top youth set-ups that has produced players such as Karim Benzema, Alexandre Lacazette and Hatem Ben Arfa.

At the Youth Academy, girls and boys share the same facilities.

“Pitches, physiotherapy rooms are the same for all,” the 38-year-old Bompastor told Reuters.

As the girls train under the watch of former Lyon and France international Camille Abily, the screams of the boys practicing can be heard nearby.

The boys and girls also benefit from the same psychological support that includes hypnosis sessions and yoga.

“We have a ‘mental ability’ cell and the hypnotist acts on the girls’ subconscious, on their deeply held beliefs after observing them on and off the pitch,” Bompastor added.

SAME TREATMENT

One message the Academy staff are trying to convey is that girls are as good as boys.

“Women’s nature is such that we have low self-esteem. So self-esteem is a big topic for our girls,” said Bompastor.

This is not the case with the boys, she added.

“Some 14, 15-year-old boys still think they would beat our professional players, we tell them this would not be happening. We still need to work on those beliefs,” she said.

Female players also have to face questions that their male counterparts do not, Bompastor explained.

“In France there is a problem with the way women are considered, there are high aesthetic expectations. So we get heavy questions on femininity, intimate questions that men don’t get,” she said.

OL’s Academy has been held up as a shining example for others to follow, even in the U.S., where women’s soccer has a wider audience than in Europe.

“About one third of the (senior women’s) squad comes from the Academy, we have a good balance,” said Bompastor.

“I’m getting tons of requests from American universities and foreign clubs, who want to come and visit our facilities.”

‘ONE CLUB’

The salaries of the senior players is one area where there remains a large discrepancy between Lyon’s men’s and women’s teams.

While the three best-paid women players in the world are at Lyon with Ballon d’Or winner Ada Hegerberg earning 400,000 euros ($445,520) a year, this figure is dwarfed by the around 4 million euros earned annually by men’s player Memphis Depay.

There is, however, a level of interaction between the men’s and women’s players that is not present at many other clubs.

“When you talk about OL you talk about women and men, you talk about one club and you feel it when you are here or outside in the city,” Germany defender Carolin Simon told Reuters.

“We see it when we play in the big stadium. It’s not ‘normal’ for women’s football,” the 26-year-old, who joined the club last year, added.

Lyon’s female players also enjoy respect from their male counterparts, Simon said.

“It’s very cool, it’s a big honor to feel that it doesn’t matter if you are a professional man or woman. We talk with the men, there are handshakes, it’s a good atmosphere and it’s also why we are successful,” said Simon.

“The men respect us and it’s not just for the cameras.”

Her team mate, England’s Lucy Bronze, sees the men’s respect as key to improving women’s football.

“We might not be paid the same but they are just normal with us, they see us as footballers the same as they are,” Bronze told Reuters.

“Being at Lyon has really opened my eyes. To improve women’s football, it starts with having the respect of your male counterparts. It’s the biggest thing because they can influence so many people.”

(Reporting by Julien Pretot; Editing by Toby Davis)

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FILE PHOTO: Ethiopian migrants, stranded in war-torn Yemen, sit on the ground of a detention site pending repatriation to their home country, in Aden, Yemen
FILE PHOTO: Ethiopian migrants, stranded in war-torn Yemen, sit on the ground of a detention site pending repatriation to their home country, in Aden, Yemen April 24, 2019. REUTERS/Fawaz Salman/File Photo

April 26, 2019

GENEVA (Reuters) – Yemeni authorities have rounded up about 3,000 irregular migrants, predominantly Ethiopians, in the south of the country, “creating an acute humanitarian situation,” the U.N. migration agency said on Friday.

“IOM is deeply concerned about the conditions in which the migrants are being held and is engaging with the authorities to ensure access to the detained migrants,” the International Organization for Migration said.

The migrants are held in open-air football stadiums and in a military camp, it said in a statement.

The detentions began on Sunday in the city of Aden and the neighboring province of Lahj, which are under the control of the internationally recognized government backed by Saudi Arabia and the United Arab Emirates. Iran-aligned Houthi rebels control Sanaa, the capital, and other major urban centers.

Both sides are under international diplomatic pressure to implement a United Nations-sponsored ceasefire deal agreed last year in Sweden and to prepare for a wider political dialogue that would end the four-year-old war.

Thousands of migrants arrive in Yemen every year, mostly from the Horn of Africa, driven by drought and unemployment at home and lured by the wages available in the Gulf.

(Writing by Maher Chmaytelli, Editing by William Maclean)

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U.S. dollar notes are seen in this picture illustration
U.S. dollar notes are seen in this November 7, 2016 picture illustration. Picture taken November 7. REUTERS/Dado Ruvic/Illustration

April 26, 2019

(Reuters) – Following are five big themes likely to dominate thinking of investors and traders in the coming week and the Reuters stories related to them.

1/DOLLAR JUGGERNAUT

The dollar has zipped to near two-year highs, leaving many scratching their heads. To many, it’s down to signs the U.S. economy is chugging ahead while the rest of the world loses steam. After all, Wall Street is busily scaling new peaks day after day.

Never mind the cause, the effect is stark. The euro has tumbled to 22-month lows against the dollar and investors are preparing for more, buying options to shield against further downside. Emerging-market currencies are also in pain, with Turkish lira and Argentine peso both sharply weaker.

Now U.S. data need to keep surprising on the upside or even just meet expectations. The International Monetary Fund sees U.S. growth at 2.3 percent this year. For Germany, the forecast is 0.8 percent. The U.S. economy’s rude health has given rise to speculation the Fed might resume raising interest rates. Unlikely. But as other countries — Canada, Sweden and Australia are the latest — hint at more policy easing, there seems to be one way the dollar can go. Up.

(GRAPHIC: Dollar outperforms G10 FX – https://tmsnrt.rs/2Dz17S5)

2/FED: UP OR DOWN?

Wall Street is near record highs and recession worries are receding, so as we mentioned above, investors might wonder if the Federal Reserve will start raising rates again.

Such a pivot is unlikely after the Fed killed off rate-rise expectations at its March meeting. And the latest Reuters poll all but puts to bed any risk of rates will go up this economic cycle, given inflation remains below the Fed’s alarm threshold and unemployment is the lowest in generations.

Before the March rate-pause announcement, a preponderance of economists penciled in one or more increases this year. But that has flipped. A majority of those surveyed April 22-24 see no further tightening through December and more are leaning toward a cut by the end of next year.

Indeed, interest rate futures imply Fed Funds will be below the current 2.25-2.50 percent target range by this December.

Recent positive consumer spending and exports data have eased market concerns of a sharp economic slowdown. But inflation probably needs to run hot for a long period to panic policymakers off their wait-and-see course.     

(GRAPHIC: Federal funds and the economy – https://tmsnrt.rs/2DzjTZz)

3/HEISEI TO REIWA

Next week ends three decades of Japan’s Heisei era. Heisei, or Achieving Peace, began in 1989 near the peak of a massive stock market bubble and closes with the country trapped in low growth, no inflation, and negative interest rates.

The new era that dawns on May 1 is called Reiwa, meaning Beautiful Harmony. It begins when Crown Prince Naruhito ascends the Chrysanthemum Throne. But do investors really want harmony? What they want to see is a bit of economic growth and inflation to shake up the status quo.

The Bank of Japan’s stimulus toolkit to revive a long-suffering economy is anything but harmonious and yet it’s set to stay. The central bank confirmed recently rates will stay near zero for a long time. But the coming days may not be harmonious or peaceful for currency markets. A 10-day Golden Week holiday kicks off on April 29 and investors are fretting over the risk of a “flash crash” – a violent currency spasm that can occur in times of thin trading turnover.

The year has already seen two yen spikes and many, including Japan’s housewife-trader brigade – so-called Mrs Watanabes – appear to have bought yen as the holiday approaches. Their short dollar/long yen positions recently reached record highs, stock exchange data showed.

(GRAPHIC: Japan stocks: from Hensei to Reiwa – https://tmsnrt.rs/2W6a7Fe)

4/EARNING TURNING

Quarterly earnings were supposed to be the worst in Europe in almost three years, but with a third of results in, things are looking a little rosier.

Two-thirds of companies’ results have beat expectations, and they point to earnings growth of 4.5 percent year-on-year. Financials have delivered the biggest surprises, according to analysis by Barclays.

That might just show how low expectations were. In fact, analysts are still taking a red pen to their estimates.

The latest I/B/E/S data from Refinitiv shows analysts on average expect first-quarter earnings-per-share for STOXX 600-listed companies to fall 4.2 percent. That would be their worst quarter since 2016 and down sharply from an estimated 3.4 percent just a week earlier.

Those estimates may end up being a little too bearish as earnings season goes on, quelling worries that Europe is heading toward a corporate recession.

GSK and Reckitt Benckiser will give the market a glimpse of the health of the consumer products market and spending on everything from toothpaste, washing powder and paracetamol.

(GRAPHIC: Earnings forecasts – https://tmsnrt.rs/2DuO2ZF)

5/WAITING FOR THE OLD LADY

Sterling has gone into the doldrums amid the Brexit delay and unproductive talks between the UK government and the opposition Labour party on a EU withdrawal deal. The resurgent dollar, meanwhile, has taken 2 percent off the pound in April. It is unlikely the Bank of England will be able to rouse it at its May 2 meeting.

Despite robust retail and jobs data of late, the economic picture is gloomy – 2019 growth is likely to be around 1.2 percent, the weakest since 2009, investment is down and Governor Mark Carney says business uncertainty is “through the roof”.

Indeed, expectations for an interest rate increase have been whittled down; Reuters polls forecast rates will not move until early 2020, a calendar quarter later than was forecast a month ago. The hunt for a new governor to replace Carney in October adds more uncertainty to the mix.

The recent run of UK data has fueled hopes of economic rebound. That’s put net hedge fund positions in the pound into positive territory for the first time in nearly a year. The Old Lady of Threadneedle Street might temper some of that optimism.

(GRAPHIC: Sterling positions – https://tmsnrt.rs/2XJwUXX)

(Reporting by Alden Bentley in New York, Vidya Ranganathan in Singapore; Karin Strohecker, Josephine Mason and Saikat Chatterjee in London; compiled by Sujata Rao; edited by Larry King)

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