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Puerto Ricans to decry austerity, hurricane help at hearing

Hundreds of Puerto Ricans are filling up a coliseum to speak at a first of its kind public hearing held by a group of U.S. legislators visiting the U.S. territory amid complaints about austerity measures and the pace of federal hurricane recovery funds nearly two years after Hurricane Maria hit.

The crowd came from cities and towns across the island and included students, retirees, people in construction boots and others in high heels. Some even brought gamecocks to protest a recent federal ban on the island's cockfighting industry.

Friday's public hearing comes a day after the U.S. Government Accountability Office issued a report stating in part that some Puerto Rico municipalities are struggling financially because they have not been fully reimbursed for work already completed after the Category 4 storm.

Source: Fox News World

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Guaido’s trucks clash with Maduro’s military in attempt to force aid into Venezuela

Trucks driven by supporters of Venezuelan opposition leader Juan Guaido nearly rammed into a blockade by security forces still loyal to embattled President Nicolas Maduro in an attempt to reach aid in Colombia.

Images show a red truck trying to forcefully pass through a checkpoint in Mariara, in northern Venezuela a few hours outside of Caracas, on Thursday as the security forces appeared to stand their ground.

Lawmaker members of the Venezuelan National Assembly and supporters of Juan Guaido, who many nations have recognized as the country's rightful interim ruler, clash with security forces as they block the road on the outskirts of Mariara, Venezuela February 21.

Lawmaker members of the Venezuelan National Assembly and supporters of Juan Guaido, who many nations have recognized as the country's rightful interim ruler, clash with security forces as they block the road on the outskirts of Mariara, Venezuela February 21. (Reuters)

The national guardsmen in anti-riot gear positioned a trailer truck in front of a tunnel, blocking the highway westward. A shouting match and scuffle ensured, with the guardsmen firing tear cag before the lawmakers eventually forced their way through and resumed their journey.

US SAYS IT WILL DELIVER AID BLOCKED BY VENEZUELA, SETTING UP CONFRONTATION WITH MADURO REGIME

The truck is part of a cross-country caravan led by Guiado for the border with Colombia, where much of the U.S.-supplied aid is warehoused. Guaido has called for thousands of ordinary Venezuelans to assemble at the Colombian border on Saturday to help bring the aid across.

National guardsmen in anti-riot gear positioned a trailer truck in front of a tunnel, blocking the highway westward. A shouting match and scuffle ensured, with the guardsmen firing tear cag before the lawmakers eventually forced their way through and resumed their journey.

National guardsmen in anti-riot gear positioned a trailer truck in front of a tunnel, blocking the highway westward. A shouting match and scuffle ensured, with the guardsmen firing tear cag before the lawmakers eventually forced their way through and resumed their journey. (Reuters)

The clash came as Maduro announced Thursday plans to close the vast, jungle border with Brazil a day after he blocked air and sea travel between Venezuela and the nearby Dutch Caribbean island of Curacao, where the first cargo of relief supplies arrived earlier that day.

Maduro said he was also weighing whether to shut the border with Colombia, where the bulk of aid is being stockpiled and exiled leaders have been gathering ahead of a fundraising concert Friday organized by British entrepreneur Richard Branson, in which several major Latin American pop artists will perform.

The clash came as Maduro announced Thursday plans to close the vast, jungle border with Brazil a day after he blocked air and sea travel between Venezuela and the nearby Dutch Caribbean island of Curacao, where the first cargo of relief supplies arrived earlier that day.

The clash came as Maduro announced Thursday plans to close the vast, jungle border with Brazil a day after he blocked air and sea travel between Venezuela and the nearby Dutch Caribbean island of Curacao, where the first cargo of relief supplies arrived earlier that day. (Reuters)

"We're not beggars," he said. "What the U.S. empire is doing with its puppets is an internal provocation. They wanted to generate a great national commotion, but they didn't achieve it."

PENCE TO DELIVER SPEECH ON VENEZUELA IN COLOMBIA ON MONDAY

Saturday's aid showdown comes exactly a month after Guaido declared himself interim president in a mass rally, immediately drawing the support of the U.S. and 50 other countries.

But while he's managed to bring hope to Venezuelans crushed by years of recession, food shortages and hyperinflation, he's so far been unable to win over the military, which has shown little sign of abandoning Maduro.

In a move that might change the tide to win over the military, Hugo Chavez’s longtime spy chief, retired Maj. Gen. Hugo Carvajal, declared his loyalty to Guaido.

Reading prepared remarks in a video on social media, Carvajal, who spent a decade running Chavez's military intelligence agency before stepping down in 2012, urged his former comrades to redeem themselves and abandon their support for Maduro.

"You carry on your shoulders the weight of an army that gave liberty to people in more than five countries," he said, referring to the Venezuelan-born Simon Bolivar's role as the father of South American independence from Spain.

VENEZUELA TO CLOSE BORDER WITH BRAZIL AMID MADURO'S REFUSAL OF HUMANITARIAN AID

"We can't allow an army, in the hands of a few generals subjugated to Cuban instructions, to become the biggest collaborator of a dictatorial government that has plagued people with misery," he added.

For now, the military continues to obey Maduro's orders even as Guaido tries to bring international attention to the country's hardships.

Branson’s “Venezuela Aid Live” event will face a rival concert being put on by the government at the other end of the Tienditas Bridge, which connects Venezuela with neighboring Colombia.

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Venezuelan officials have not said who is going to perform on the Venezuela end of the bridge. The concert’s slogan is “Hands Off Venezuela.”

“All the artists that are going to sing in Colombia must know that they are committing a crime. They are endorsing a military intervention," said Maduro.

The Associated Press contributed to this report.

Source: Fox News World

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EU’s Barnier says he is doing all he can to ensure Brexit deal

FILE PHOTO: EU Chief Brexit Negotiator Barnier walks at EC HQ in Brussels
FILE PHOTO: EU Chief Brexit Negotiator Michel Barnier walks at the European Commission headquarters in Brussels, Belgium February 7, 2019. REUTERS/Yves Herman/File Photo

February 27, 2019

PARIS (Reuters) – The European Union’s Brexit negotiator Michel Barnier said on Wednesday that he was trying his utmost to ensure there was a deal on Brexit, though he reiterated the Irish backstop could not be renegotiated.

“I am doing all I can,” Barnier told France Info radio.

British Prime Minister Theresa May on Tuesday offered lawmakers the chance to vote in two weeks for a potentially disorderly no-deal Brexit or to delay Britain’s exit from the European Union if her attempt to ratify a divorce agreement fails.

(Reporting by Sudip Kar-Gupta; Editing by Andrew Heavens)

Source: OANN

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PSA quarterly revenue declines as sales collapse in Iran and China

FILE PHOTO: The logo of French car manufacturer Peugeot is seen at a dealership of the company in Selestat
FILE PHOTO: The logo of French car manufacturer Peugeot is seen at a dealership of the company in Selestat, France, January 14, 2019.REUTERS/Vincent Kessler

April 25, 2019

PARIS (Reuters) – French carmaker PSA Group said first-quarter revenue fell 1.1 percent, as sales continued to decline in China and were also impacted by the Peugeot maker’s withdrawal from Iran.

Revenue declined to 17.98 billion euros ($20.05 billion) in January-March from 18.2 billion a year earlier, the Paris-based carmaker said on Thursday.

(Reporting by Laurence Frost; Editing by Sudip Kar-Gupta)

Source: OANN

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Cuomo: NY to Waive Tuition for Fallen Service Members’ Kids

New York state will grant free state tuition and room and board to the families of New York military members killed or disabled while on duty, Democratic Gov. Andrew Cuomo announced Wednesday.

The move comes after President Donald Trump and Republican state lawmakers criticized a decision by Democrats in the state Assembly to block legislation that would have expanded an existing scholarship for Gold Star families.

The state had already covered tuition for dependents and spouses of service members killed or disabled in combat or in training — but that didn't cover all military deaths of injuries.

Cuomo said Wednesday that there was no need to wait for lawmakers to act, and he had already directed state higher education officials to expand the existing Military Enhanced Recognition Incentive and Tribute scholarship program immediately.

The expanded scholarship will offer children and spouses free tuition and room and board to public colleges and universities — or an equivalent scholarship to attend private schools. The MERIT scholarship offered recipients living on campus a maximum of $24,250 and commuting recipients $15,750 for the 2018-2019 school year.

The expansion is expected to cost "several million dollars," according to Cuomo, who said it was a small price to honor the sacrifice of fallen service members and their families.

"We owe them everything, because they pay the price for our freedom," Cuomo said.

Republicans blasted the Democrat-led Assembly last week after a GOP bill expanding scholarships for Gold Star families was blocked by a legislative committee. They noted that Democrats had already passed legislation extending state financial aid to students brought into the country illegally as children.

Trump tweeted his way into the debate Friday.

"In New York State, Democrats blocked a Bill expanding College Tuition for Gold Star families after approving aid for illegal immigrants," Trump tweeted. "No wonder so many people are leaving N.Y. Very Sad!"

In response, Democrats highlighted the existing scholarship for Gold Star families and asserted Republicans should have pushed for the expansion before lawmakers passed a new state budget April 1.

Source: NewsMax America

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Report Cheers Celebrities Discussing Faith in God

A new report highlights a growing trend in Hollywood: talking about faith in God.

Pepperdine University adjunct professor and author Chris Carter wrote a column for Fox News that celebrated celebrities opening up about their religion, talking about it on social media, attending church, and even writing songs about it.

"At a time where it seems like your career could be at stake if you publicly mention your religious affiliation, seeing celebrities come out of their biblical closet on social media is a breath of fresh air," Carter said. "This trend is not only surpassing Page Six, but it's getting the interest of mainstream Hollywood producers, legendary rappers and visionary tech entrepreneurs."

Carter referenced actor Chris Pratt's speech at last summer's MTV Music Awards in which he went into detail about his belief in God.

Carter discussed his own Catholic faith in his column, and noted it is refreshing to see celebrities — including Justin Bieber and even Snoop Dogg — coming out with messages about their faith.

"Snoop Dog may be one of the greatest rappers of our generation," Carter wrote. "What he's not known for is Gospel music. Well, that was until March of 2018 when his 'Snoop Dog Presents: Bible of Love' hit No. 1 on Billboard's Top Gospel Albums Chart. Not to be outdone, Kanye West is rumored to be producing a Gospel album of his own."

A recent study, meanwhile, found religious people are happier than non-religious people.

Source: NewsMax America

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NFL expands replay to include pass interference

FILE PHOTO: New Orleans Saints head coach Sean Payton looks on as his team takes on the Atlanta Falcons during their NFL football game in New Orleans, Louisiana
FILE PHOTO: New Orleans Saints head coach Sean Payton looks on as his team takes on the Atlanta Falcons during their NFL football game in New Orleans, Louisiana September 8, 2013. REUTERS/Sean Gardner

March 27, 2019

NFL owners voted 31-1 to make offensive and defensive pass interference calls and non-calls reviewable in 2019, the NFL announced Tuesday from the annual league meetings in Phoenix.

According to multiple reports, the Cincinnati Bengals were the only team to vote against the rule.

The new rule, which will be revisited next offseason to determine if it becomes permanent, will allow coaches to challenge any call or non-call of pass interference before the final two minutes of each half, and any such plays to be reviewable by the booth inside of two minutes. Coaches will still be allowed only two challenges per game, or three if the first two are successful.

After getting little support from the owners in meetings Monday, the rule change was pushed over the edge by overwhelming support from coaches, multiple outlets reported. Meetings regarding the rule ran long Monday as coaches made their case for implementing the change, and they continued Tuesday.

New Orleans Saints head coach Sean Payton led the effort, after his team missed out on a likely appearance in Super Bowl LIII when referees failed to make an obvious pass interference call late in the NFC Championship Game against the Los Angeles Rams.

“I think we got it right,” Payton told reporters afterward. “It felt like we had to go around the block twice, and then arrived at the right address.”

Saints owner Gayle Benson, who issued a strong statement after the team’s championship game loss in reference to the officiating, added, “This is what I wanted to happen. That’s why I made my statement. [The missed call] will never happen again.”

“People compromised on long-held views because people wanted to get it right,” commissioner Roger Goodell said in his press conference, held shortly after the new rule was approved.

ESPN’s Adam Schefter reports the new rule would have had a major impact had it been in place earlier, not only the NFC Championship Game but also for Super Bowl LIII.

According to Schefter, the competition committee admitted the new rule would have given the Rams the ball at the 1-yard line with 4:24 remaining as they trailed 10-3 in the Super Bowl, after cornerback Stephon Gilmore subtly hooked wideout Brandin Cooks’ arm on an incompletion in the end zone. No call was made on that play — Cooks still nearly caught the pass, but couldn’t hang on — and Jared Goff was intercepted by Gilmore on the next snap, all but clinching the game for New England.

Meanwhile, the possibility of a “sky judge” — an eighth official looking at camera feeds live to help make obvious decisions without reviews — is not yet dead, according to Steelers owner Art Rooney II. However, there remain a number of logistics to work out on the subject, and it will be revisited later this offseason.

Among other decisions made on rule changes:

–The Kansas City Chiefs’ proposal that would guarantee both teams possession in overtime, regardless of whether the first team to possess the ball scores a touchdown, was tabled until May. The Chiefs lost the AFC Championship Game without possessing the ball in overtime after the Patriots scored a touchdown on the first possession.

–The Denver Broncos’ proposal to allow teams to attempt a fourth-and-15 conversion from their own 35-yard line in lieu of attempting an onside kick — used a maximum of once per game — was rejected, despite seven of eight competition committee members voting in favor of it.

–The definition of plays subject to automatic reviews was expanded. Previously including only plays involving a score or turnover, the category now also includes any score or turnover nullified by penalty or any extra-point or 2-point conversion attempt.

–Changes made to the kickoff in 2018 on a one-year trial were made permanent moving forward.

–All blind-side blocks were made illegal, with the intention of improving player safety after research showed such blocks led to a third of concussions sustained on punts. Previously, players were only allowed to deliver blind-side blocks that avoided the head or neck area.

–After unsportsmanlike conduct penalties occur during a touchdown play, teams are now allowed to choose whether to enforce the penalty on the extra-point try or on the kickoff.

–Field Level Media

Source: OANN

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A worker holds a nozzle to pump petrol into a vehicle at a fuel station in Mumbai
FILE PHOTO: A worker holds a nozzle to pump petrol into a vehicle at a fuel station in Mumbai, India, May 21, 2018. REUTERS/Francis Mascarenhas

April 26, 2019

By Manoj Kumar and Nidhi Verma

NEW DELHI (Reuters) – Surging global oil prices will pose a first big challenge to India’s new government, whoever wins an election now under way, especially as domestic prices have been allowed to lag, meaning consumers are in for a painful surge as they catch up.

For oil-import dependent India, higher global prices could lead to a weaker rupee, higher inflation, the ruling out of interest rate cuts and could further weigh on twin current account and budget deficits, economists warned.

But compounding the future pain, state-run fuel suppliers and retailers have held off passing on to consumers the higher prices during a staggered general election, which began on April 11 and ends on May 23, according to sources familiar with the situation.

That delay is expected to be unwound once the election is over. And there could be additional price increases to make up for losses or profits missed during the period of delayed increases, the sources said.

In some major Asian countries, such as Japan and South Korea, pump prices are adjusted periodically so they move largely in tandem with international crude prices.

That was what was supposed to happen in India but the election means there have been many days when pump prices have been unchanged.

In New Delhi, for example, while crude oil prices have gone up by nearly $9 a barrel, or about 12 percent, in the past six weeks, gasoline prices have only risen by 0.47 rupees a liter, or 0.6 percent.

State-controlled fuel suppliers and retailers declined to say why they had delayed price increases, or discuss whether there has been any pressure from the government of Prime Minister Narendra Modi.

A government spokesman declined to comment.

The opposition Congress party said Modi’s government was violating its own policy of daily price revision by advising the state oil companies to hold prices steady.

“The government should cut fuel taxes otherwise consumers will have to pay much higher oil prices once the elections are over,” said Akhilesh Pratap Singh, a senior leader of the Congress party.

(GRAPHIC: India Polls: Fuel price hike lags crude surge – https://tmsnrt.rs/2XLlxik)

Nitin Goyal, treasurer at the All India Petroleum Dealers Association, representing fuel stations in 25 states, said prices were similarly held down for 19 days in the southern state of Karnataka last year, when it held state assembly elections.

Only for them to surge after the vote.

“Consumers should be ready for a rude shock of a massive jump in retail prices, similar to the level we have seen in the Karnataka state election,” Goyal said.

‘CREDIT NEGATIVE’

Sri Paravaikkarasu, director for Asia oil at Singapore-based consultancy FGE, said retail prices of gasoline and gasoil prices would have been up to 6 percent, or about 4 rupee, higher if they had been allowed to rise in line with global prices.

“Indian pump prices have failed to keep up with the recent uptrend in crude prices,” Paravaikkarasu said.

“With the country’s general elections underway, the incumbent government has been keeping pump prices relatively unchanged.”

India had switched to a daily price revision in June 2017 from a revision every two weeks, as the government allowed retailers to set prices.

But the government faced protests last October when retailers raised prices by up to 10 rupees a liter after the crude oil price went above $80 a barrel, forcing it to cut fuel taxes.

Global prices rose to their highest level in 2019 on Thursday, days after the United States announced all Iran sanction waivers would end by May, pressuring importers including India to stop buying Tehran’s oil. [O/R]

Higher oil prices will mean Asia’s third largest economy is likely to see growth of less than 7 percent rate this fiscal year, economists said. Growth slowed to 6.6 percent in the October-December quarter, the slowest in five quarters.

Rating agency CARE has warned that a 10 percent rise in global oil prices could increase demand for dollars, putting pressure on the rupee and widening the current account deficit.

India’s oil import bill rose by nearly one-third in the fiscal year ending March 31 to $140.5 billion, against $108 billion the previous year.

“The increase in international oil prices is a credit negative for the Indian economy,” ICRA, the Indian arm of the Fitch rating agency, said in a note.

“Every $10/ bbl increase in crude oil prices increases the fiscal deficit by about 0.1 percent of GDP.”

Any big price rise would also build a case for the central bank to keep rates steady, or even raise them.

The Reserve Bank of India’s Monetary Policy Committee, which cut the benchmark policy repo rate by 25 basis points this month, warned that rising oil and food prices could push up inflation.

Policymakers are worried that a sustained increase in the oil price in the range of $70-75/barrel or higher can move the rupee down by 3-4 percent on an annual basis.

The rupee has depreciated by 1.24 percent against the dollar since a year high in mid-March.

($1 = 70.1800 Indian rupees)

(Reporting by Manoj Kumar and Nidhi Verma; Editing by Martin Howell and Rob Birsel)

Source: OANN

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FILE PHOTO: Uber's logo is displayed on a mobile phone in London, Britain
FILE PHOTO: Uber’s logo is displayed on a mobile phone in London, Britain, September 14, 2018. REUTERS/Hannah Mckay/File Photo

April 26, 2019

(Reuters) – Ride-hailing company Uber Technologies Inc unveiled terms for its initial public offering on Friday, telling investors it would seek to sell as much as $10.35 billion in stock at a valuation of up to $91.5 billion.

In a regulatory filing, Uber set a target price range of $44-$50 per share for its IPO. The company will sell 180 million shares in the offering, with a further 27 million sold by insiders.

In the filing, Uber also reported a net loss attributable to the company for the first quarter of 2019 of around $1 billion and revenues of roughly $3 billion.

(Reporting by Joshua Franklin; editing by Patrick Graham)

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FILE PHOTO: Jet Airways aircraft are seen parked at the Chhatrapati Shivaji Maharaj International Airport in Mumbai
FILE PHOTO: Jet Airways aircraft are seen parked at the Chhatrapati Shivaji Maharaj International Airport in Mumbai, India, April 18, 2019. REUTERS/Francis Mascarenhas/File Photo

April 26, 2019

By Aditi Shah and Abhirup Roy

NEW DELHI/MUMBAI (Reuters) – The grounding of India’s Jet Airways is turning into a quick windfall and long-term opportunity for international airlines keen to scoop up nearly a million outbound passengers from what was once the nation’s biggest airline.

Jet, which previously had a fleet of around 120 largely Boeing Co planes, was forced to indefinitely halt all flight operations on April 17 after its banks rejected the carrier’s plea for emergency funds.

The carrier’s descent into crisis has benefited international airlines in the form of rising fares and demand, data showed.

Fares from India to cities such as Dubai, London, New York, Singapore and Bali in the first quarter of 2019 rose between 4 percent and 32 percent from a year ago, according to Indian travel portal MakeMyTrip Ltd.

In the peak travel months of May and June, fares to London have spiked as much as 36 percent and tickets to San Francisco are up nearly 20 percent from a year ago, according to data from travel portal Yatra.com.

“For the next three months it’s actually bonanza time for international players,” said Ashish Nainan, a research analyst at CARE Ratings. “At least until the middle of June, the fares are not going to come down.”

Due to rising demand, even before Jet’s lessors grounded planes, carriers such as British Airways, Cathay Pacific Airways Ltd, Singapore Airlines Ltd and United Airlines saw an up to a 27 percent increase in passenger numbers from India in the last quarter of 2018, data from India’s aviation regulator showed. That is the latest period for which the data is available.

India is one of the world’s fastest-growing aviation markets, clocking 15-20 percent domestic growth in recent years. It has long had only two full-service long-haul carriers, state-run Air India and Jet.

Jet is now hoping to be bailed out by a new investor, with final bids due on May 10.

INCREASING CAPACITY

Before its grounding, Jet had the biggest share of India’s outbound international air traffic, carrying 12 percent of the 7.8 million passengers headed overseas in the Oct-Dec quarter, down from 14 percent a year earlier, data from the Directorate General of Civil Aviation showed.

For an interactive graphic on Jet’s market share, click https://tmsnrt.rs/2WvDQYi

For an interactive graphic on average daily flights by the airline, click https://tmsnrt.rs/2FeFDel

The total number of passengers traveling overseas with Jet fell 10 percent during the last quarter of 2018 even as the outbound travel market grew about 5 percent.

Meanwhile, Singapore Airlines posted a 27 percent increase in passengers from India, Cathay registered 17 percent growth and British Airways saw a 10 percent rise in the same period.

Cathay said the events at Jet combined with increasing demand for travel had led it to deploy larger aircraft with more seats on some Indian routes.

“In the long term we would certainly like to be able to offer more capacity into India, not just on our existing routes but by establishing new services to secondary cities,” Cathay said in a statement.

Singapore Airlines, in an email to Reuters, said the Indian market is “very promising” but declined to give details of airfare levels or demand patterns in the wake of Jet’s exit, citing a quiet period before the release of its annual results.

DOMESTIC GAINS

Jet’s grounding has also had a big impact on the domestic market, with inter-city air fares to major cities such as New Delhi, Mumbai, Bengaluru and Kolkata soaring more than 20 percent in May and June, according to Yatra.com.

The spike in fares is expected to underpin strong earnings for IndiGo and SpiceJet Ltd, which are set to report results for the quarter ended March 31 in the coming weeks.

“Domestic Indian carriers are the main benefactors, but I suspect if Jet fails to be revived by May 10 then Vistara and other airlines that ply international routes, particularly the lucrative Gulf market, are the main winners,” said Shukor Yusof, the head of aviation consultancy Endau Analytics. Vistara is a joint venture of India’s Tata Sons and Singapore Airlines.

Inadequate bilateral traffic rights between India and other countries, however, could be an impediment to foreign carriers’ hopes of winning business lost by Jet, some analysts said.

“Even before Jet’s operational shutdown, international capacity was significantly constrained,” said Kapil Kaul, CEO for South Asia of consultancy CAPA. “We have now more serious capacity challenge … this is unlikely to be stabilized in the near term.”

A new national government likely to be in place sometime after elections end in May is expected to address the international capacity constraints, and once bilateral agreements are eased airlines including Emirates, Turkish and Qatar would immediately benefit, said Kaul.

“We would love to add more flights but we are at the limit of the allocation granted to us for traffic rights,” Emirates Chief Commercial Officer Thierry Antinori told reporters in Dubai on Wednesday.

(Additional reporting by Alexander Cornwell in Dubai, Jamie Freed in Singapore and Tanvi Mehta in Mumbai; Editing by Muralikumar Anantharaman)

Source: OANN

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FILE PHOTO: The company logo for pharmaceutical company AstraZeneca is displayed on a screen on the floor at the NYSE in New York
FILE PHOTO: The company logo for pharmaceutical company AstraZeneca is displayed on a screen on the floor at the New York Stock Exchange (NYSE) in New York, U.S., April 8, 2019. REUTERS/Brendan McDermid

April 26, 2019

By Pushkala Aripaka and Ankur Banerjee

(Reuters) – AstraZeneca Plc beat first-quarter sales and earnings expectations on Friday as the British drugmaker benefited from a push into cancer drugs and emerging markets including China.

Newer treatments such as lung cancer drug Tagrisso, now the company’s top selling medicine, have helped the drugmaker’s return to growth after years of crumbling sales due to patent losses on older drugs.

Sales in China have shown explosive growth, more than doubling since 2012, but AstraZeneca executives on Friday said that may not be sustained.

“The enormous growth you currently see in China, 28 percent, probably is not sustainable, but we feel very bullish that the growth will continue to be at a pace of between 15 percent and 20 percent,” Ruud Dobber, executive vice president, BioPharma, told Reuters.

Shares of the company were down 0.2 percent at 5,878 pence at 1031 GMT.

The turnaround in AstraZeneca’s fortunes has been powered by a push into cancer treatments led by Chief Executive Pascal Soriot, who saw off a 2014 takeover bid from Pfizer in part by promising annual sales of $45 billion by 2023.

In the first quarter, sales from its oncology unit rose 59 percent to $1.89 billion, accounting for 35 percent of total product sales.

The company has moved deeper into cancer therapy market through wide-ranging deals, including those for immunotherapy and targeted therapy. Last month, it agreed a multi-billion dollar oncology deal with Japan’s Daiichi Sankyo Co Ltd.

Interactive graphic on AZN’s top 10 drugs by sales – https://tmsnrt.rs/2W5XIRX

“We’re reaching that point where after years of having to keep faith, we have actually got something tangible to believe in,” Hargreaves Lansdown analyst Nicholas Hyett said.

AstraZeneca also backed its annual sales and earnings forecast and said it has extensively prepared for UK’s anticipated exit from the European Union, even in the event of a no-deal exit.

The company has already spent more than 40 million pounds ($52 million) on Brexit preparations, including stockpiling six weeks’ worth of drugs in the UK and four weeks in continental Europe to guard against shortages.

AstraZeneca said product sales rose 14 percent at constant currency to $5.47 billion in the quarter, led by its lung cancer drug Tagrisso and respiratory treatment Pulmicort.

Interactive graphic on AZN’s quarterly oncology sales – https://tmsnrt.rs/2W9tbCD

China sales increased by 28 percent to $1.24 billion in the quarter, accounting for nearly a quarter of overall product sales.

Core earnings came in at 89 cents per share in the quarter. Analysts on average were expecting core earnings of 85 cents per share and product sales of $5.29 billion, according to a company provided consensus of 19 analysts.

(Reporting by Pushkala Aripaka and Ankur Banerjee in Bengaluru; Editing by Bernard Orr/Keith Weir)

Source: OANN

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https://www.infowarsstore.com/dna-force-plus.html?ims=jbdoh&utm_campaign=IWL-DNAForcePlus-20%25off-Widget&utm_source=Infowars+Widget&utm_medium=Banner&utm_content=Widget-DNFP-20%25off

DNA Force Plus

149.95

119.96

DNA Force Plus is finally here! Now you can support optimal energy levels while adapting your body to handle the daily bombardment of toxins to overhaul your body’s cellular engines with a fan-favorite formula.

https://www.infowars.com/wp-content/uploads/2016/02/dna-210.jpg

https://www.infowarsstore.com/dna-force-plus.html?ims=jbdoh&utm_campaign=IWL-DNAForcePlus-20%25off-Widget&utm_source=Infowars+Widget&utm_medium=Banner&utm_content=Widget-DNFP-20%25off

https://www.infowarsstore.com/dna-force-plus.html?ims=jbdoh&utm_campaign=IWL-DNAForcePlus-20%25off-Widget&utm_source=Infowars+Widget&utm_medium=Banner&utm_content=Widget-DNFP-20%25off

DNA Force Plus

149.95

119.96

DNA Force Plus is finally here! Now you can support optimal energy levels while adapting your body to handle the daily bombardment of toxins to overhaul your body’s cellular engines with a fan-favorite formula.

https://www.infowars.com/wp-content/uploads/2016/02/dna-210.jpg

https://www.infowarsstore.com/dna-force-plus.html?ims=jbdoh&utm_campaign=IWL-DNAForcePlus-20%25off-Widget&utm_source=Infowars+Widget&utm_medium=Banner&utm_content=Widget-DNFP-20%25off

https://www.infowarsstore.com/dna-force-plus.html?ims=jbdoh&utm_campaign=IWL-DNAForcePlus-20%25off-Widget&utm_source=Infowars+Widget&utm_medium=Banner&utm_content=Widget-DNFP-20%25off

DNA Force Plus

149.95

119.96

DNA Force Plus is finally here! Now you can support optimal energy levels while adapting your body to handle the daily bombardment of toxins to overhaul your body’s cellular engines with a fan-favorite formula.

https://www.infowars.com/wp-content/uploads/2016/02/dna-210.jpg

https://www.infowarsstore.com/dna-force-plus.html?ims=jbdoh&utm_campaign=IWL-DNAForcePlus-20%25off-Widget&utm_source=Infowars+Widget&utm_medium=Banner&utm_content=Widget-DNFP-20%25off

https://www.infowarsstore.com/dna-force-plus.html?ims=jbdoh&utm_campaign=IWL-DNAForcePlus-20%25off-Widget&utm_source=Infowars+Widget&utm_medium=Banner&utm_content=Widget-DNFP-20%25off

Source: InfoWars

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