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Euro zone business lending rebounds in February

A money changer counts Euro banknotes at a currency exchange office in Nice
A money changer counts Euro banknotes at a currency exchange office in Nice, France November 17, 2017. REUTERS/Eric Gaillard

March 28, 2019

FRANKFURT (Reuters) – Corporate lending growth in the euro zone rebounded last month, European Central Bank data showed on Thursday, easing fears that banks are stopping the flow of credit to corporations amid a growth slowdown.

Corporate lending expanded by 3.7 percent in February, picking up from 3.4 percent in January, even if the reading remains well short of its post-crisis peak of 4.3 percent hit in September.

With growth slowing on weak export demand for manufactured goods, the ECB has already reversed course, putting plans to normalize policy on hold, announcing instead further stimulus measures to aid a still limping economy.

Fearing that banks will shut the flow of credit to firms amid a slowdown, the ECB unveiled plans to give lenders a new line of ultra cheap loans with the ultimate aim of getting cash to firms so they will continue to invest.

Credit growth to households meanwhile rose to 3.3 percent in February from 3.2 percent a month earlier, suggesting that the slowdown has yet to significantly dent consumer confidence.

The annual growth rate of the M3 measure of money supply, which often foreshadows future activity, surged to 4.3 percent from 3.8 percent a month earlier and beating expectations for 3.9 percent.

(Reporting by Balazs Koranyi; Editing by Francesco Canepa)

Source: OANN

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Elizabeth Warren says she wants to eliminate the Electoral College

Democratic presidential candidate Elizabeth Warren said she supports eliminating the U.S. Electoral College during a town hall broadcast on Monday night.

“Every vote matters and the way we can make that happen is that we can have national voting, and that means get rid of the Electoral College,” Warren told an audience at the historically black college Jackson State University in Mississippi.

Warren’s statement on CNN came after an audience member asked the Massachusetts senator about voting rights and so-called voter suppression laws.

ELIZABETH WARREN INSISTS HER CAREER WASN'T ADVANCED BECAUSE OF NATIVE AMERICAN HERITAGE CLAIM

“I believe we need a constitutional amendment that protects the right to vote for every American citizen and makes sure that vote gets counted,” she said. “We need to put some federal muscle behind that, and we need to repeal every one of the voter suppression laws that is out there.”

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Warren said she also supports a new flag for Mississippi, which is the only state to have Confederate imagery on it.  The Mississippi state flag’s use of a Confederate battle emblem was legally challenged in 2017, but the Supreme Court declined to hear the case.

The Associated Press contributed to this report.

Source: Fox News Politics

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Bill O'Reilly to Newsmax TV: Media Sinks to 'Sad' New Low

The hate-Trump media's attempts to tie the mass shootings in New Zealand to President Donald Trump "is hateful, dishonest, and insulting the American public," Bill O'Reilly said on Newsmax TV.

"As soon as I saw the Trump haters try to tie the president of the United States into mass murder in New Zealand, I turned the channel – I turned it off," O'Reilly said during an appearance on Monday night's "The Wayne Allyn Root Show."

"Because I've had enough. And I think my feeling reflects the majority of Americans: Enough.

"President Trump didn't have anything to do with the New Zealand mass murder, and to try to tie him into it is hateful, dishonest, and insulting the American public."

O'Reilly lamented the American media's weak effort to damage their own president at any opportunity, no matter how remote the attack is, because of a nonstop anti-Trump agenda.

"There's no other story for the media other than Donald Trump," O'Reilly told Root. "If Donald Trump isn't in the news, they don't have anything to report on.

"And that's really sad for this country. Really, really, sad."

Important: Newsmax TV is now carried in 65 million cable homes on DirecTV Ch. 349, Dish Network Ch. 216, Comcast/Xfinity Ch. 1115, U-verse Ch. 1220, FiOS Ch. 615 or More Systems Here.

Source: NewsMax Politics

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Senior Republican, eyeing Trump budget, worries about U.S. debt

Chairman of the Senate Budget Committee Enzi waits for order to be restored during markup of the FY2018 Budget reconciliation legislation on Capitol Hill in Washington
Chairman of the U.S. Senate Budget Committee Mike Enzi (R-WY) waits for order to be restored as protestors interrupt the markup of the FY2018 Budget reconciliation legislation on Capitol Hill in Washington, U.S., November 28, 2017. REUTERS/Joshua Roberts

March 13, 2019

By Susan Cornwell

WASHINGTON (Reuters) – A senior Senate Republican gave a lukewarm welcome to U.S. President Donald Trump’s 2020 budget plan, complaining on Wednesday that growing debt was taking the country in “an ominous direction.”

Senate Budget Committee Chairman Mike Enzi opened a hearing on the Republican president’s proposal with a broad attack on what he said was the growing, misguided view that U.S. debt and deficits do not matter.

“We’re in a credit-card Congress,” Enzi said, noting the United States would soon face annual government deficits of over $1 trillion. “We are clearly headed in an ominous direction.”

Trump’s plan is highly unlikely to become law in the face of opposition from Democrats, who control the House of Representatives.

Democrats at the hearing focused on Trump’s proposed cuts to social programs, making clear they would continue to emphasize them in the 2020 presidential election campaign.

The budget proposal “practices the Robin Hood principle in reverse,” said Senator Bernie Sanders, budget panel member and 2020 Democratic presidential candidate. “It takes from the poor and working families and gives to the very wealthy.”

In his $4.7 trillion budget unveiled on Monday, Trump called for overhauling social programs that help poor and elderly Americans, while boosting military spending and funding a U.S.-Mexico border wall.

The Trump administration has said the plan represents an attempt to be fiscally responsible at a time of trillion-dollar budget deficits.

Tax cuts were a priority for the Trump White House and congressional Republicans in recent years, rather than deficit reduction. The U.S. deficit is expected to run to $900 billion in 2019 and the national debt has ballooned to $22 trillion.

Enzi blamed both Republicans and Democrats for the trend toward trillion-dollar deficits. The Republican lawmaker cited a report from the Congressional Budget Office that the public debt is expected to reach 78 percent of gross domestic product this year.

Russell Vought, acting White House budget director, defended Trump’s plan, saying the president was requesting more spending cuts than any previous administration.

House Democrats are working on their own budget proposal that would be a blueprint for setting spending levels.

The party is divided over costly ideas like a “Medicare for All” universal healthcare proposal and the “Green New Deal” to eliminate U.S. greenhouse gas emissions within a decade.

(Reporting by Susan Cornwell; Editing by Peter Cooney)

Source: OANN

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China defends Tibet policies, bashes exile government

Chinese officials responsible for Tibet are praising development in the Himalayan region in the 60 years since the suppression of an uprising against Beijing's rule.

Executive vice governor Norbu Dondrup on Wednesday reviewed gains in the economy, health care and education since 1959 and castigated the self-declared government-in-exile established by Buddhist leader the Dalai Lama as illegitimate. The now-83-year-old Dalai Lama fled to India after the uprising was suppressed.

Dordrup also repeatedly emphasized that journalists must travel to Tibet to see for themselves the conditions there, even though China heavily restricts such travel.

The U.S. State Department issued a report on Monday saying China's government "systematically impeded travel" to Tibet and Tibetan areas outside the official Tibetan Autonomous Region for U.S. diplomats and officials, journalists, and tourists in 2018.

Source: Fox News World

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Nurse charged in fatal drug-swap error pleads not guilty

A Tennessee nurse charged with reckless homicide after a medication error killed a patient has pleaded not guilty.

The Nashville courtroom on Wednesday was packed with nurses in scrubs who came to support RaDonda Vaught during the brief hearing. They have also rallied around her online, where she has raised more than $72,000 for her legal bills.

According to a report on the accident, Vaught accidentally injected 75-year-old Charlene Murphey with the paralytic vecuronium in December 2017 instead of the sedative Versed.

The mistake came when the 35-year-old Vaught could not find Versed in an automatic dispensing cabinet and used an override. Then she typed in "VE" and picked the first drug that came up.

After the hearing, Vaught's attorney called the criminal charge against the nurse "completely unfathomable."

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This story has been edited to correct the spelling of the nurse's first name to RaDonda and to correct the charge to reckless homicide.

Source: Fox News National

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U.S.-backed Syrian force still battling Islamic State

Fighters from SDF stand together in the village of Baghouz, Deir Al Zor province
Fighters from the Syrian Democratic Forces (SDF) stand together in the village of Baghouz, Deir Al Zor province, Syria March 20, 2019. REUTERS/Rodi Said

March 22, 2019

QAMISHLI, Syria (Reuters) – The Syrian Democratic Forces (SDF) battled Islamic State militants holed up in the Baghouz area overnight, supported by U.S.-led coalition air strikes, the SDF said, seeking to defeat the last pockets of jihadist resistance.

The SDF has been battling for weeks to defeat Islamic State at the Baghouz enclave in southeastern Syria at the Iraqi border, all that remained of the territory the militants ruled, which once spanned a third of Syria and Iraq.

While the U.S.-backed SDF has captured most of the area, Mustafa Bali, head of the SDF media office, told Reuters SDF fighters were clashing late on Thursday with IS militants in more than two positions where they were refusing to surrender.

The jihadists were holed up in what appeared to be caves in a rocky shelf overlooking Baghouz, and in trenches by the nearby Euphrates River, he said. U.S.-led coalition war planes had conducted two raids on Thursday evening against IS movements.

“Our forces are trying to force them to surrender, but so far the clashes are continuing,” Bali said.

Though the defeat of Islamic State at Baghouz ends its grip over populated territory, the group remains a threat, with fighters operating in remote territory elsewhere and capable of mounting insurgent attacks.

(Reporting by Rodi Said; Writing by Tom Perry; Editing by Robert Birsel)

Source: OANN

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Police secure the area where the body of a woman was discovered near the village of Orounta
Police secure the area where the body of a woman was discovered near the village of Orounta, Cyprus, April 25, 2019. REUTERS/Stefanos Kouratzis

April 26, 2019

NICOSIA (Reuters) – Cypriot police searched on Friday for more victims of a suspected serial killer, in a case which has shocked the Mediterranean island and exposed the authorities to charges of “criminal indifference” because the dead women were foreigners.

The main opposition party, the left-wing AKEL, called for the resignation of Cyprus’s justice minister and police chief.

Police were combing three different locations west of the capital Nicosia for victims of the suspected killer, a 35-year-old army officer who has been in detention for a week.

The bodies of three women, including two thought to be from the Philippines, have been recovered. Police sources said the suspect had indicated the location of the third body, found on Thursday, and had said the person was “either Indian or Nepali”.

Police said they were searching for a further four people, including two children, based on the suspect’s testimony.

“These women came here to earn a living, to help their families. They lived away from their families. And the earth swallowed them, nobody was interested,” AKEL lawmaker Irene Charalambides told Reuters.

“This killer will be judged by the court but the other big question is the criminal indifference shown by the others when the reports first surfaced. I believe, as does my party, that the justice minister and the police chief should resign. They are irrevocably exposed.”

Police have said they will investigate any perceived shortcomings in their handling of the case.

One person who did attempt to alert the authorities over the disappearances, a 70-year-old Cypriot citizen, said his motives were questioned by police.

The bodies of the two Filipino women reported missing in May and August 2018 were found in an abandoned mine shaft this month. Police discovered the body of the third woman at an army firing range about 14 km (9 miles) from the mine shaft.

Police are now searching for the six-year-old daughter of the first victim found, a Romanian mother who disappeared with her eight-year-old child in 2016, and a woman from the Phillipines who vanished in Dec. 2017.

The suspect has not been publicly named, in line with Cypriot legal practice.

A public vigil for the missing was planned later on Friday.

(Reporting By Michele Kambas; Editing by Gareth Jones)

Source: OANN

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An employee looks up at goods at the Miniclipper Logistics warehouse in Leighton Buzzard
FILE PHOTO: An employee looks up at goods at the Miniclipper Logistics warehouse in Leighton Buzzard, Britain December 3, 2018. REUTERS/Simon Dawson

April 26, 2019

LONDON, April 26 – British factories stockpiled raw materials and goods ahead of Brexit at the fastest pace since records began in the 1950s, and they were increasingly downbeat about their prospects, a survey showed on Friday.

The Confederation of British Industry’s (CBI) quarterly survey of the manufacturing industry showed expectations for export orders in the next three months fell to their lowest level since mid-2009, when Britain was reeling from the global financial crisis.

The record pace of stockpiling recorded by the CBI was mirrored by the closely-watched IHS Markit/CIPS purchasing managers’ index published earlier this month.

(Reporting by Andy Bruce, editing by David Milliken)

Source: OANN

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Malaysian Prime Minister Mahathir Mohamad speaks at the opening ceremony for the second Belt and Road Forum in Beijing
Malaysian Prime Minister Mahathir Mohamad speaks at the opening ceremony for the second Belt and Road Forum in Beijing, China April 26, 2019. REUTERS/Florence Lo

April 26, 2019

KUALA LUMPUR (Reuters) – Fewer than half of Malaysians approve of Prime Minister Mahathir Mohamad, an opinion poll showed on Friday, as concerns over rising costs and racial matters plague his administration nearly a year after taking office.

The survey, conducted in March by independent pollster Merdeka Center, showed that only 46 percent of voters surveyed were satisfied with Mahathir, a sharp drop from the 71 percent approval rating he received in August 2018.

Mahathir’s Pakatan Harapan coalition won a stunning election victory in May 2018, ending the previous government’s more than 60-year rule.

But his administration has since been criticized for failing to deliver on promised reforms and protecting the rights of majority ethnic Malay Muslims.

Of 1,204 survey respondents, 46 percent felt that the “country was headed in the wrong direction”, up from 24 percent in August 2018, the Merdeka Center said in a statement. Just 39 percent said they approved of the ruling government.

High living costs remained the top most concern among Malaysians, with just 40 percent satisfied with the government’s management of the economy, the survey showed.

It also showed mixed responses to Pakatan Harapan’s proposed reforms.

Some 69 percent opposed plans to abolish the death penalty, while respondents were sharply divided over proposals to lower the minimum voting age to 18, or to implement a sugar tax.

“In our opinion, the results appear to indicate a public that favors the status quo, and thus requires a robust and coordinated advocacy efforts in order to garner their acceptance of new measures,” Merdeka Center said.

The survey also found 23 percent of Malaysians were concerned over ethnic and religious matters.

Some groups representing Malays have expressed fear that affirmative-action policies favoring them in business, education and housing could be taken away and criticized the appointments of non-Muslims to key government posts.

Last November, the government reversed its pledge to ratify a UN convention against racial discrimination, after a backlash from Malay groups.

Earlier this month, Pakatan Harapan suffered its third successive loss in local elections since taking power, which has been seen as a further sign of waning public support.

Despite the decline, most Malaysians – 67 percent – agreed that Mahathir’s government should be given more time to fulfill its election promises, Merdeka Center said.

This included a majority of Malay voters who were largely more critical of the new administration, it added.

(Reporting by Rozanna Latiff; Editing by Nick Macfie)

Source: OANN

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The German share price index DAX graph at the stock exchange in Frankfurt
The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, April 25, 2019. REUTERS/Staff

April 26, 2019

By Medha Singh and Agamoni Ghosh

(Reuters) – European shares slipped on Friday after losses in heavyweight banks and Glencore outweighed gains in healthcare and auto stocks, while investors remained on the sidelines ahead of U.S. economic data for the first quarter.

The pan-European STOXX 600 index was down 0.1 percent by 0935 GMT, eyeing a modest loss at the end of a holiday-shortened week. Banks-heavy Italian and Spanish indices were laggards.

The banking index fell for a fourth day, at the end of a heavy earnings week for lenders.

Britain’s Royal Bank of Scotland tumbled after posting lower first quarter profit, hurt by intensifying competition and Brexit uncertainty, while its investment bank also registered poor returns.

Weakness in investment banking also dented Deutsche Bank’s quarterly trading revenue and sent its shares lower a day after the German bank abandoned merger talks with smaller rival Commerzbank.

“The current interest rate environment makes it challenging for banks to make proper earnings because of their intermediary function,” said Teeuwe Mevissen, senior market economist eurozone, at Rabobank.

Since the start of April, all country indexes were on pace to rise between 1.8 percent and 3.4 percent, their fourth month of gains, while Germany was strongly outperforming with 6 percent growth.

“For now the current sentiment is very cautious as markets wait for the first estimates of the U.S. GDP growth which could see a surprise,” Mevissen said.

U.S. economic data for the first-quarter is due at 1230 GMT. Growth worries outside the United States resurfaced this week after South Korea’s economy unexpectedly contracted at the start of the year and weak German business sentiment data for April also disappointed.

Among the biggest drags on the benchmark index in Europe were the basic resources sector and the oil and gas sector, weighed down by Britain’s Glencore and France’s Total, respectively.

Glencore dropped after reports that U.S authorities were investigating whether the company and its subsidiaries violated certain provisions of the commodity exchange act.

Energy major Total said its net profit for the first three months of the year fell compared with a year ago due to volatile oil prices and debt costs.

Chip stocks in the region including Siltronic, Ams and STMicroelectronics lost more than 1 percent after Intel Corp reduced its full-year revenue forecast, adding to concerns that an industry-wide slowdown could persist until the end of 2019.

Meanwhile, healthcare, which is also seen as a defensive sector, was a bright spot. It was helped by French drugmaker Sanofi after it returned to growth with higher profits and revenues for the first-quarter.

Luxembourg-based satellite operator SES led media stocks higher after it maintained its full-year outlook on the back of the company’s Networks division.

Automakers in the region rose 0.4 percent, led by Valeo’s 6 percent jump as the French parts maker said its performance would improve in the second half of the year.

Continental AG advanced after it backed its outlook for the year despite reporting a fall in first-quarter earnings.

Renault rose more than 3 percent as it clung to full-year targets and pursues merger talks with its Japanese partner Nissan.

(Reporting by Medha Singh and Agamoni Ghosh in Bengaluru; Editing by Gareth Jones and Elaine Hardcastle)

Source: OANN

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U.S. President Donald Trump hosts Take Our Daughters and Sons to Work Day at the White House in Washington
U.S. President Donald Trump gives a thumbs up to his audience as he hosts Take Our Daughters and Sons to Work Day at the White House in Washington, U.S., April 25, 2019. REUTERS/Kevin Lamarque

April 26, 2019

By Jan Wolfe and Richard Cowan

(Reuters) – The “i word” – impeachment – is swirling around the U.S. Congress since the release of Special Counsel Robert Mueller’s redacted Russia report, which painted a picture of lies, threats and confusion in Donald Trump’s White House.

Some Democrats say trying to remove Trump from office would be a waste of time because his fellow Republicans still have majority control of the Senate. Other Democrats argue they have a moral obligation at least to try to impeach, even though Mueller did not charge Trump with conspiring with Russia in the 2016 U.S. election or with obstruction of justice.

Whether or not the Democrats decide to go down this risky path, here is how the impeachment process works.

WHAT ARE GROUNDS FOR IMPEACHMENT?

The U.S. Constitution says the president can be removed from office by Congress for “treason, bribery, or other high crimes and misdemeanors.” Exactly what that means is unclear.

Before he became president in 1974, replacing Republican Richard Nixon who resigned over the Watergate scandal, Gerald Ford said: “An impeachable offense is whatever a majority of the House of Representatives considers it to be at a given moment in history.”

Frank Bowman, a University of Missouri law professor and author of a forthcoming book on the history of impeachment, said Congress could look beyond criminal laws in defining “high crimes and misdemeanors.” Historically, it can encompass corruption and other abuses, including trying to obstruct judicial proceedings.

HOW DOES IMPEACHMENT PLAY OUT?

The term impeachment is often interpreted as simply removing a president from office, but that is not strictly accurate.

Impeachment technically refers to the 435-member House of Representatives approving formal charges against a president.

The House effectively acts as accuser – voting on whether to bring specific charges. An impeachment resolution, known as “articles of impeachment,” is like an indictment in a criminal case. A simple majority vote is needed in the House to impeach.

The Senate then conducts a trial. House members act as the prosecutors, with senators as the jurors. The chief justice of the U.S. Supreme Court presides over the trial. A two-thirds majority vote is required in the 100-member Senate to convict and remove a president from office.

No president has ever been removed from office as a direct result of an impeachment and conviction by Congress.

Nixon quit in 1974 rather than face impeachment. Presidents Andrew Johnson in 1868 and Bill Clinton in 1998 were impeached by the House, but both stayed in office after the Senate acquitted them.

Obstruction of justice was one charge against Clinton, who faced allegations of lying under oath about his relationship with White House intern Monica Lewinsky. Obstruction was also included in the articles of impeachment against Nixon.

CAN THE SUPREME COURT OVERTURN?

No.

Trump said on Twitter on Wednesday that he would ask the Supreme Court to intervene if Democrats tried to impeach him. But America’s founders explicitly rejected making a Senate conviction appealable to the federal judiciary, Bowman said.

“They quite plainly decided this is a political process and it is ultimately a political judgment,” Bowman said.

“So when Trump suggests there is any judicial remedy for impeachment, he is just wrong.”

PROOF OF WRONGDOING?

In a typical criminal court case, jurors are told to convict only if there is “proof beyond a reasonable doubt,” a fairly stringent standard.

Impeachment proceedings are different. The House and Senate “can decide on whatever burden of proof they want,” Bowman said. “There is no agreement on what the burden should be.”

PARTY BREAKDOWN IN CONGRESS?

Right now, there are 235 Democrats, 197 Republicans and three vacancies in the House. As a result, the Democratic majority could vote to impeach Trump without any Republican votes.

In 1998, when Republicans had a House majority, the chamber voted largely along party lines to impeach Clinton, a Democrat.

The Senate now has 53 Republicans, 45 Democrats and two independents who usually vote with Democrats. Conviction and removal of a president would requires 67 votes. So that means for Trump to be impeached, at least 20 Republicans and all the Democrats and independents would have to vote against him.

WHO BECOMES PRESIDENT IF TRUMP IS REMOVED?

A Senate conviction removing Trump from office would elevate Vice President Mike Pence to the presidency to fill out Trump’s term, which ends on Jan. 20, 2021.

(Reporting by Jan Wolfe and Richard Cowan; Editing by Kevin Drawbaugh and Peter Cooney)

Source: OANN

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