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Oil extends losses into second session as U.S. stocks rise

FILE PHOTO: An offshore oil rig is seen in the Caspian Sea near Baku
FILE PHOTO: An offshore oil rig is seen in the Caspian Sea near Baku, Azerbaijan, October 5, 2017. REUTERS/Grigory Dukor/File Photo

March 28, 2019

By Colin Packham

SYDNEY (Reuters) – Oil prices fell on Thursday, extending losses into a second straight session, after widely watched data showed a surprising increase in U.S. stocks.

International Brent crude oil futures were at $67.63 a barrel at 0045 GMT, down 20 cents, or 0.3 percent, from their last close. Brent closed down 0.2 percent on Wednesday.

U.S. West Texas Intermediate (WTI) crude futures were at $59.18 per barrel, down 23 cents, or 0.4 percent, from their last settlement. WTI fell 0.9 percent on Wednesday.

Prices came under pressure from a rise in U.S. inventories, although analysts pointed to support from efforts by the Organization of the Petroleum Exporting Countries (OPEC) and non-affiliated allies like Russia, known as OPEC+, to trim output.

“Today’s fall does not derail the short-term bullish argument that both the OPEC+ production cuts and supply outages will outweigh the global growth concerns and rising U.S. production,” said Edward Moya, senior market analyst, OANDA.

U.S. crude inventories rose last week by 2.8 million barrels, compared with analysts’ expectations for a decrease of 1.2 million barrels, the U.S. Energy Information Administration said.

Crude exports fell by 506,000 barrels per day, the EIA said.

Offering support for prices, oil output from Russia, OPEC’s biggest non-member ally, averaged 11.3 million barrels per day so far in March, a source said, compared with 11.34 million barrels a day the previous month.

(Reporting by Colin Packham; editing by Richard Pullin)

Source: OANN

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Nancy Pelosi has given moderate Dems 'cover' on Trump impeachment talk: Byron York

Washington Examiner columnist Byron York says House Speaker Nancy Pelosi's comments dismissing the idea that Democrats will try to impeach President Trump gives moderate Democrats "cover" in districts where President Trump has more approval.

"Some of them are in districts that Donald Trump won and they don't really want to pursue impeachment," York said on "America's Newsroom."

"There are a lot of moderate Democrats who feel that they were elected to do other things like work on health care and the economy -- not impeachment."

HUME: IT'S GOOD POLITICS TO AVOID IMPEACHMENT

"And Pelosi has actually given them cover to now say 'the Speaker has now given her opinion on that,'" York added.

"I’m not for impeachment," Pelosi, D-Calif., told The Washington Post in an interview published Monday. "Impeachment is so divisive to the country that unless there’s something so compelling and overwhelming and bipartisan, I don’t think we should go down that path, because it divides the country. And he’s just not worth it."

Pelosi's impeachment comments were unexpected, according to York, especially since many Democrats have been talking about the topic.

"They were a surprise because the impeachment machine has been up and running on Capitol Hill," York told co-host Bill Hemmer.

The comment came after House Majority Leader Steny Hoyer, D-Md., when asked Monday by Fox News about the push to impeach President Trump responded, “we’ve got 62 new (Democratic) members. Not three.”

Hoyer apparently was referring to congresswomen Alexandria Ocasio-Cortez, D-N.Y, Rashida Tlaib, D-Mich., andlhan Omar, D-Minn., who have garnered a large amount of media coverage since joining Congress and have been very vocal about impeachment.

TLAIB SAYS SHE'LL INTRODUCE ARTICLES OF IMPEACHMENT THIS MONTH

York noted however that the freshman congresswomen's districts may differ from the majority of their colleagues districts in that they are more liberal.

"A number of those were elected in districts that are not at all like AOC's," York said.

Source: Fox News Politics

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Asian shares steady after Easter weekend; oil hits 2019 highs

Visitors are seen as market prices are reflected in a glass window at the TSE in Tokyo
FILE PHOTO: Visitors are seen as market prices are reflected in a glass window at the Tokyo Stock Exchange (TSE) in Tokyo, Japan, October 1, 2018. REUTERS/Toru Hanai

April 23, 2019

By Tomo Uetake

TOKYO (Reuters) – Asian shares were little changed on Tuesday, hovering not far from nine-month peaks hit last week, with concerns China may slow the pace of policy easing curbing the market’s enthusiasm.

MSCI’s broadest index of Asia-Pacific shares outside Japan was almost flat, while Japan’s Nikkei average eased 0.2 percent. Many markets around the world remained shut on Monday after the long Easter weekend.

China stocks fell from a 13-month high on Monday, posting their worst session in nearly four weeks, as comments from top policymaking bodies raised investor fears that Beijing will ease up on stimulative policies after some signs of stabilization in the world’s second-largest economy.

Stocks on Wall Street hovered near break-even on Monday as the benchmark S&P 500 index was about 1 percent away from its record high hit in September, while the S&P energy index led gains on higher oil prices.

Oil prices jumped more than 2 percent the previous day to a near six-month high, on growing concern about tight global supplies after the United States announced a further clampdown on Iranian oil exports.

Washington said it would eliminate in May all waivers allowing eight economies to buy Iranian oil without facing U.S. sanctions.

International benchmark Brent crude soared 2.9 percent to settle at $74.04 a barrel on Monday and U.S. West Texas Intermediate crude jumped 2.7 percent to settle at $65.70. Both indexes climbed to nearly six-month highs during the session.

U.S. crude futures last traded at $65.78 per barrel, up 0.4 percent on the day.

But sharp gains in oil prices have so far had a limited impact on the broader financial markets.

“Unless the WTI rises well above $70-75 per barrel, there will be limited impact on U.S. Treasuries and the dollar/yen,” said Makoto Noji, chief currency and foreign bond strategist at SMBC Nikko Securities.

In the currency market, the dollar index, which measures the greenback against six major currencies, eased 0.2 percent overnight and last traded steady at 97.328. The index hit a two-week high of 97.485 on Thursday, before the start of Good Friday and the Easter weekend.

Against the Japanese yen, the dollar was largely flat at 111.96 yen, while the euro was steady to the greenback at 1.2530.

With the jump in the price of oil, one of Canada’s major exports, the Canadian dollar rose 0.4 percent against its U.S. counterpart overnight and last traded at C$1.3352.

On Monday, the Russian ruble hit its highest level against the euro in more than a year, and a one month-peak versus the dollar, also driven by the jump in oil.

(Additional reporting by Hideyuki Sano; Editing by Jacqueline Wong)

Source: OANN

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Police: Man who shot driver 18 times claims other crimes

An arrest warrant affidavit says a Georgia man accused of shooting a man in New Orleans 18 times told police he'd been involved in violent crimes in his hometown and in Alabama before the shooting.

News outlets report that 25-year-old Kwane Brown told police that when a driver behind him flashed his lights around 6:30 a.m. Sunday, he thought the driver was "after him" so he exited his car and shot the man numerous times.

The man survived. Police arrested Brown and charged him with attempted murder.

Brown told police he "shot some people" Friday night in Columbus, Georgia, and then drove to Mobile, Alabama, and robbed a gas station at gunpoint.

He remained in jail Monday with bail set at $200,000. It wasn't clear if he had an attorney who could comment.

Source: Fox News National

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UBS Wealth closes U.S. equity overweight, favors emerging stocks

Mark Haefele, Global Chief Investment Officer of UBS Wealth Management attends the Reuters Investment Summit
FILE PHOTO: Mark Haefele, Global Chief Investment Officer of UBS Wealth Management attends the Reuters Investment Summit, London, Britain, November 16, 2017. REUTERS/Paul Hackett

April 18, 2019

(Reuters) – UBS Global Wealth Management has closed its overweight position in U.S. equities and shifted to an overweight in emerging market and Japanese stocks, it said on Thursday.

UBS Global Wealth Management chief investment officer Mark Haefele said also that the firm preferred the euro over the Swiss franc and Norwegian crown versus the Canadian dollar.

(Reporting by Sujata Rao and Tom Arnold)

Source: OANN

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Trump says he sees ‘collusion’ against Republicans on social media platforms

U.S. President Donald Trump and Brazil's President Jair Bolsonaro hold a joint news conference at the White House in Washington
U.S. President Donald Trump speaks during a joint news conference with Brazil's President Jair Bolsonaro in the Rose Garden of the White House in Washington, U.S., March 19, 2019. REUTERS/Kevin Lamarque

March 19, 2019

WASHINGTON (Reuters) – Republican U.S. President Donald Trump said on Tuesday that social media platforms discriminated against members of his party, and accused the companies of collusion.

“It seems to be if they’re conservative, if they’re Republicans, if they’re in a certain group, there’s discrimination, and big discrimination, and I see it absolutely on Twitter and Facebook … and others,” Trump said at a joint White House news conference with Brazilian President Jair Bolsonaro.

“We use the word ‘collusion’ very loosely all the time, and I will tell you there is collusion with respect to that because something has to be going on,” Trump said.

(Reporting by Roberta Rampton; writing by Mohammad Zargham; editing by Jonathan Oatis)

Source: OANN

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Berlin's polar bear cub growing fast, public debut soon

Berlin's Tierpark zoo says its polar bear cub is almost ready to be introduced to visitors.

The zoo on Tuesday released new photos of the as-yet-unnamed female cub and her mother, Tonja. The bear was born Dec. 1 and weighed 8.5 kilograms (18.7 pounds) by the time of her first medical checkup nearly two weeks ago.

Zoo director Andreas Knieriem says that keepers are very satisfied with the cub's development and Tonja is a good mother. Mother and daughter will probably make their first appearance in the bears' outside enclosure — and see visitors for the first time — in mid-March.

The Tierpark has the same management as Berlin's other zoo, which was home a decade ago to celebrity polar bear Knut.

Source: Fox News World

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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.

CLICK HERE TO GET THE FOX NEWS APP

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.

CLICK HERE TO GET THE FOX NEWS APP

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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