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Virginia edges Purdue in OT to reach first Final Four since ’84

NCAA Basketball: NCAA Tournament-South Regional-Purdue vs Virginia
Mar 30, 2019; Louisville, KY, United States; Virginia Cavaliers guard Kyle Guy (5) goes up for a shot ahead of Purdue Boilermakers defense during the first half in the championship game of the south regional of the 2019 NCAA Tournament at KFC Yum Center. Mandatory Credit: Jamie Rhodes-USA TODAY Sports

March 31, 2019

Virginia needed a wild buzzer-beating play to force overtime and had to survive a scoring onslaught by Purdue guard Carsen Edwards to advance to its first Final Four since 1984.

The top-seeded Cavaliers beat the third-seeded Boilermakers 80-75 in the NCAA Tournament’s South Region in Louisville, Ky., on Saturday night.

“There was a burning desire to get these guys and our program to a Final Four and hopefully beyond,” said Virginia coach Tony Bennett.

Edwards scored 42 points but missed a potential go-ahead 3-pointer with nine seconds left in overtime. Kyle Guy corralled the rebound and was fouled with 5.7 seconds left. He made both to make it 78-75.

On the ensuing possession, Edwards passed the ball from halfcourt, but the pass went out of bounds along the sideline with 2.1 seconds left. Kihei Clark’s two free throws sealed the win.

“Obviously, a special performance by Carsen,” said Purdue coach Matt Painter.

“It’s exciting when you beat somebody like Tennessee to get into the Elite Eight … and then you play a game that see-saws like it did against Virginia, and you don’t get a couple of breaks and they make a special play at the end. That’s part of competition.

“The other night was pretty cool. Today sucks.”

Virginia (33-3) will play the winner of Sunday’s Midwest Region final between second-seeded Kentucky and No. 5 Auburn.

Purdue (26-10) led 70-67 when it fouled Ty Jerome with 5.9 seconds to go, sending him to the line in a one-and-one situation. He made the first and missed the second, with Virginia’s Mamadi Diakite tipping the ball all the way into the backcourt.

Clark chased it down and fired a pass back to Diakite, whose buzzer-beating 8-foot jumper from just outside the lane sent the game into overtime.

“Kihei made the play of the century by finding Mamadi,” Jerome said.

“It was just unbelievable,” Diakite said.

“So improbable,” Bennett said.

It’s all especially sweet for Virginia, which last season became the first No. 1 seed in NCAA Tournament history to lose to a 16 seed.

“We’re just so happy. We worked so hard for this,” Guy said. “We’ve come so far. With the way last year ended, everyone probably counted us out. But, man, I’m so proud of our guys.”

Guy counter-punched with Edwards, scoring 21 of his 25 points after intermission with five 3-pointers. He went 3 for 3 from behind the arc in the first five minutes of the second half to turn a 30-29 halftime deficit into a 41-34 lead.

Guy also grabbed 10 rebounds, while Jerome scored 24 points.

Edwards, who averaged 34.8 points in four NCAA Tournament games, made 14 of 25 shots from the field, including 10 of 19 from 3-point range. He shot from increasing distance in the second half against a Virginia defense that entered the game as the stingiest in the nation, allowing 54.8 points per game.

He even banked in a trey with 1:10 to go in regulation for a 69-67 lead.

“I just felt pretty comfortable,” he said. “Never do I feel like I need to carry the team, because we’re all putting everything into the game. … It’s just I felt good and had rhythm on the shots I was taking, and they were just able to go in.”

Virginia led 74-73 after De’Andre Hunter made two free throws with 1:43 to go in overtime. Edwards drove the lane to make a short shot with 42.4 seconds to go, but Hunter responded with a drive of his own as the Cavaliers reclaimed a 76-75 lead with 28 seconds left.

Edwards worked to get a step-back 3-point attempt with nine seconds to go but the shot went off the rim.

“I told him after the game that I have a lot of respect for him and that he’s a bad dude,” Guy said. “I have never witnessed anything like that.”

–Field Level Media

Source: OANN

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Ex-DEA Head: US Border “Collapsing”

Former head of the Drug Enforcement Agency, Karen Tandy, said Thursday the southern border of the U.S. is “collapsing” from the immigration crisis.

“Our border is collapsing, plain and simple,” she said on “Fox & Friends.”

“What’s happened is principally Central American families, which consist primarily of one adult and a child, are being encouraged by drug traffickers and smuggling organizations to bring a child and get across a border. And why is that important? Because it’s become a swinging door,” she said.

Tandy said migrants only need to make it across the border before they are released back out into the general population with minimal fuss.

“They get across the border and then they get released into the United States because Customs and Border Protection is doing all they can and doing it valiantly, but there are no transportation services,” she said “There’s none of the services needed either to take care of these endangered children, and they are in danger, or to address the security at the border.”


The crisis at America’s southern border has reached unprecedented levels with human/drug trafficking and violence on the rise.

Tandy also said most illegal immigrant families are released after only 20 days in detention, because the government is running out of space to house them.

“So what happened in 1997, there was a court opinion that held that minors, children are limited to 20 days in detention. So customs and border protection can’t keep them longer than 20 days if they were unaccompanied minors coming across the border,” she said. “What happened after that, more recently in the last year was that the court took that opinion and added on to it, expanded it to also include these family units. So even though the child is accompanied, even though the child has a parent or a guardian with them, the court said you also are limited to 20 days as to these family units.”

(Photo by USCBP)

“There’s no place to put these people,” Tandy added. “They are surging beyond the wildest numbers and what happens is they get released, they’re given a notice to appear and they disappear into the United States.”


The attention span of the population has been shrinking for decades as the globalists seek even more control over the population. Dr. Nick Begich joins Alex in studio to expose the attack on our minds by Big Tech.

Source: InfoWars

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Brady, Belichick, Kraft skipping title celebration at Fenway

FILE PHOTO: Super Bowl LIII - New England Patriots v Los Angeles Rams
FILE PHOTO: February 3, 2019. New England Patriots owner Robert Kraft celebrates with the Vince Lombardi Trophy as he stands with NFL Commissioner Roger Goodell (L) and New England Patriots president Jonathan Kraft (R) after winning Super Bowl LIII. REUTERS/Mike Segar/File Photo

April 9, 2019

The Boston Red Sox will celebrate their 2018 title as well as the Super Bowl LIII championship won by the New England Patriots, but there will be some noticeable absences Tuesday at Fenway Park.

Patriots owner Robert Kraft, coach Bill Belichick and quarterback Tom Brady are not expected to be in attendance, per reports. Brady threw out the first pitch in 2017 when the Red Sox feted the Pats’ title over the Atlanta Falcons.

The Patriots hosted the Red Sox at Gillette Stadium, feting the club’s World Series title last year.

Recently retired tight end Rob Gronkowski and cornerback Stephon Gilmore are expected to attend Boston’s home opener against Toronto at 2 p.m. on Tuesday.

–Field Level Media

Source: OANN

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Study: People With an “Active Lifestyle” Recover More After Back Injury

The influence of an active lifestyle on the regenerative capacity of the peripheral nervous system, that is, the set of cranial and spinal nerves that control motor and sensory functions, is described here for the first time, explains Ángel Barco, who has led the participation of the Institute of Neurosciences UMH-CSIC, in Alicante, in this international study.

It was already knew, by studies with rodents, the benefits for the brain of an active lifestyle, explains Dr. Barco: “Laboratory animals that live in enriched environments, with wheels for exercise, toys and the presence of other animals, show better performance in memory and orientation tests, have more neurogenesis in the hippocampus, and also more dendritic spines, the structures of neurons that allow the formation of synapses or contacts between neuronal cells. And now, this work shows that the peripheral nervous system also benefits from an active lifestyle, “highlights Dr. Barco.

This finding explains why people who have led an “active lifestyle” recover more after spinal cord injury than those with “less active” lifestyles. Although the work is still at an early stage, the findings open a “realistic path” that tests the links between pre-existing active lifestyle and subsequent recovery from a spinal injury, and possibly paves the way for clinical trials in human patients, say researchers at Imperial College London, led by the Dr. Simone Di Giovanni.

“Essentially, by increasing the activity of neurons that detect environmental stimuli, we have been able to promote the regenerative potential of the nerves after a spinal cord injury,” Di Giovani explains. “We have shown that environmental enrichment, how housing the mice in a larger cage than usual, with other mice, with more toys, tunnels, swings, wheels, etc., increases the activity of the neurons. This enriched environment leads to changes in gene expression that cause the nerves to be more likely to regenerate, “explains Di Giovanni, who has coordinated the international study.


Owen explains how this is yet another example of leftist tyranny.

In addition, the researchers identified a key molecule in this process called CREB-Binding Protein (CBP), a regulator of gene expression capable that alters the expression of several genes, and thus increases the ability to regenerate damaged nerves.

Each cell of the human body contains a long strand of DNA, about two meters long, with genetic information. To fit inside the cell nucleus this DNA is wound on proteins called histones, forming a kind of pearl necklace. In order for genes to be expressed, the collar must unwind partially and accurately at the right time. And it is at this point where the CBP protein intervenes.

(Photo by Pixabay / ColiN00B / CC0 Creative Commons)

Ángel Barco’s team has been working with the CBP protein for a long time, and they have a mouse model that lacks this protein in specific neuronal types. “By putting the deficient animals in CBP in an enriched environment, we saw that they are not able to respond to these stimuli and there is no increase in the repair of injuries,” explains Dr. Barco. Thanks to this animal model, it was clear that CBP is a key molecule, capable of becoming a therapeutic target to increase regeneration after spinal cord injury.

In tests with mice and rats, administering a compound that increases the activity of the CBP protein six hours after the injury of the column, and subsequently once a week, promoted the regeneration of the damaged nerve fibers. After the injury and treatment with the drug, the rats, which otherwise could not walk correctly, recovered significant mobility in their hind legs, compared to the control animals, without treatment.

Although this treatment may not be far from being tested in the clinic, more studies are needed to show that the drug is safe in humans. Once verified, it could potentially be combined with neurorehabilitation to treat people who have suffered a spinal cord injury.


Alex Jones breaks down the various lies by these proven manipulators.

Source: InfoWars

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NCAA Tournament roundup: Purdue tops Vols in OT

NCAA Basketball: NCAA Tournament-South Regional-Purdue vs Tennessee
Mar 28, 2019; Louisville, KY, United States; Purdue Boilermakers center Matt Haarms (32) defends a shot attempt by Tennessee Volunteers guard Jordan Bone (0) during overtime in the semifinals of the south regional of the 2019 NCAA Tournament at KFC Yum Center. Mandatory Credit: Thomas J. Russo-USA TODAY Sports

March 29, 2019

Ryan Cline exploded to score a career-best 27 points and made seven 3-pointers as Purdue knocked off Tennessee 99-94 in overtime of a South Region semifinal game Thursday night at Louisville, Ky.

Carsen Edwards made five 3-pointers while scoring a game-high 29 points as third-seeded Purdue (26-9) reached the Elite Eight of the NCAA Tournament for the first time since 2000. Edwards sank 2 of 3 free throws with 1.7 seconds left to send the game to OT.

Matt Haarms and Nojel Eastern added 11 points apiece for the Boilermakers, who advanced to the Elite Eight for the first time in their past five attempts. Purdue will play top-seeded Virginia in Saturday’s regional final, with the winner advancing to the Final Four.

Grant Williams and Admiral Schofield scored 21 points apiece for the second-seeded Volunteers (31-6). Jordan Bowden scored 16 points, Lamonte Turner added 15 and Jordan Bone scored 10.

SOUTH REGION

No. 1 Virginia 53, No. 12 Oregon 49

Ty Jerome recorded 13 points, six rebounds and six assists as the Cavaliers held off the Ducks in a Sweet 16 game at Louisville, Ky.

Kihei Clark scored 12 points and sophomore guard De’Andre Hunter added 11 for Virginia (32-3), which reached the Elite Eight of the NCAA Tournament for the seventh time in school history.

Louis King scored 16 points for Oregon (25-13). Payton Pritchard added 11 points, and Paul White contributed 10 points and three steals for the Ducks, who had a 10-game winning streak halted.

WEST REGION

No. 1 Gonzaga 72, No. 4 Florida State 58

Rui Hachimura scored 17 points, Brandon Clarke had a double-double, and the Bulldogs finished on a big run to turn away the Seminoles in a Sweet 16 game in Anaheim, Calif. Gonzaga will play in the West Region final on Saturday against third-seeded Texas Tech.

Gonzaga (33-3) led by 14 in the first half but had trouble putting away Florida State, which was within 60-56 before Zach Norvell Jr. stemmed the momentum by hitting a key 3-point shot with 3:06 to go.

Clarke helped subdue the Seminoles (29-8) with two free throws with 2:06 left and a dunk with 1:17 to go. He scored 15 points, grabbed 12 rebounds and blocked five shots. Florida State’s Trent Forrest scored 15 of his 20 points after halftime.

No. 3 Texas Tech 63, No. 2 Michigan 44

Jarrett Culver scored 22 points while the Red Raiders smothered the Wolverines in a historic defensive effort at Anaheim, Calif.

Texas Tech (29-6) harassed Michigan into 32.7 percent shooting, including a 1-for-19 effort from 3-point range. The Wolverines set a program record for fewest points in the first half of an NCAA Tournament game (16) and total points.

Davide Moretti contributed 15 points for Texas Tech, which got 10 from Matt Mooney. Tariq Owens had seven points, 10 rebounds and two blocks. Freshman Ignas Brazdeikis led Michigan (30-7) with 17 points and 13 rebounds.

–Field Level Media

Source: OANN

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U.S. judge rules Qualcomm owes Apple nearly $1 billion rebate payment

FILE PHOTO: A woman holds her phone near an Apple company logo in Beijing
FILE PHOTO: A woman holds her phone near an Apple company logo in Beijing, China December 14, 2018. REUTERS/Jason Lee

March 15, 2019

By Stephen Nellis

(Reuters) – A U.S. federal judge has issued a preliminary ruling that Qualcomm Inc owes Apple Inc nearly $1 billion in patent royalty rebate payments, though the decision is unlikely to result in Qualcomm writing a check to Apple because of other developments in the dispute.

Judge Gonzalo Curiel of the U.S. District Court for the Southern District of California on Thursday ruled that Qualcomm, the world’s biggest supplier of mobile phone chips, was obligated to pay nearly $1 billion in rebate payments to Apple, which for years used Qualcomm’s modem chips to connect iPhones to wireless data networks.

The payments were part of a business cooperation agreement between the two companies amid the peculiar patent licensing practices of the consumer electronics industry.

In general, the contract factories that built Apple’s iPhones would pay Qualcomm billions of dollars per year for the use of Qualcomm’s patented technology in iPhones, a cost that Apple would reimburse the contract factories for. Separately, Qualcomm and Apple had a cooperation agreement under which Qualcomm would pay Apple a rebate on the iPhone patent payments if Apple agreed not to attack in court or with regulators.

In a lawsuit filed two years ago, Apple sued Qualcomm, alleging that the chip supplier had broken the cooperation agreement by not paying nearly $1 billion in patent royalty rebates.

Qualcomm in turn alleged that it stopped paying the rebate payments because Apple had broken the agreement by urging other smartphone makers to complain to regulators and making “false and misleading” statements to the Korean Fair Trade Commission, which was investigating Qualcomm over antitrust allegations. Apple responded that it was making lawful responses to regulators in an ongoing investigation.

Judge Curiel sided with Apple, ruling that Qualcomm owed the missed rebate payments.

“Qualcomm’s illegal business practices are harming Apple and the entire industry,” Apple said in a statement.

Don Rosenberg, executive vice president and general counsel of Qualcomm, told Reuters in a statement, “Although the Court today did not view Apple’s conduct as a breach of Apple’s promises to Qualcomm in the 2013 Business Cooperation and Patent Agreement, the exposure of Apple’s role in these events is a welcome development.”

The decision will not become final until after the trial in the case, which begins next month. And it is unlikely that Qualcomm will make a new payment to Apple.

Apple’s contract factories, which under normal circumstances would pay Qualcomm for patent royalties owed on iPhones, have already withheld the nearly $1 billion in payments to Qualcomm. Qualcomm’s Rosenberg said those withheld iPhone payments have already been accounted for in Qualcomm’s existing financial statements.

“Apple has already offset the payment at issue under the agreement against royalties that were owed to Qualcomm,” Qualcomm’s Rosenberg told Reuters.

(Reporting by Stephen Nellis; Editing by Cynthia Osterman)

Source: OANN

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Klobuchar’s 2020 haul: $5.2 million in seven weeks

Sen. Amy Klobuchar says her presidential campaign brought in $5.2 million in the seven weeks from her mid-February announcement through the end of the first quarter of fundraising on March 31.

While respectable, the Minnesota Democrat’s fundraising figure trailed significantly larger hauls by some of her rivals for the 2020 Democratic presidential nomination.

O'ROURKE HAULS IN $9.4 MILLION IN JUST 18 DAYS

Klobuchar’s campaign announced Monday that the senator also transferred more than $3 million from her Senate 2018 re-election campaign, bringing her January-March total to more than $8 million. It added that Klobuchar had $7 million cash-on-hand as of the beginning of this month.

The campaign highlighted Klobuchar’s grassroots appeal, saying the senator’s “average online grassroots contribution was $40 and 85 percent of all donors gave less than $100.”

Fundraising, along with polling, is a much watched barometer of a candidate’s clout, strength, and popularity. The first quarter campaign cash figures, the first of the 2020 election cycle, will be heavily scrutinized and analyzed.

Klobuchar’s announcement came one day after Sen. Cory Booker of New Jersey reported raising $5 million during the first quarter. Booker declared his candidacy for president 10 days before Klobuchar.

BERNIE'S BIG BUCKS-SANDERS BRINGS IN $18.2 MILLION

The big winner so far in the race for campaign cash is Sen. Bernie Sanders of Vermont. The independent senator, who’s making his second straight bid for the Democratic nomination, raised an eye-popping $18.2 million in the 71 days from his mid-February launch through the end of March. Sen. Kamala Harris of California brought in $12 million in the 70 days from her January announcement through the end of the quarter. And former Rep. Beto O’Rourke of Texas, who announced his bid in mid-March, hauled in $9.4 million in the first 18 days of his campaign.

South Bend, Indiana Mayor Pete Buttigieg was the first 2020 Democratic contender to announce first-quarter campaign cash numbers. His $7 million haul was further evidence that the one-time long shot for the nomination was rising in stature and strength.

New York-based entrepreneur Andrew Yang reported raising $1.7 million.

Sens. Elizabeth Warren of Massachusetts and Kirsten Gillibrand of New York, known as strong fundraisers in the Senate, have yet to report their campaign cash numbers.

The campaigns have until April 15 to file their fundraising reports with the Federal Election Commission.

THE MAD DASH FOR CAMPAIGN CASH

Democratic strategist Jesse Ferguson, a presidential campaign veteran, highlighted that the numbers are an important “data point to show us how campaigns are doing.”

“The numbers will surely be over-interpreted, but they will tell us who is building the base of support needed in order to stay in for the long haul,” explained Ferguson, who served as a senior spokesman on the 2016 Clinton presidential campaign. “The numbers will show us who is building the grassroots support needed to get on the debate stage.”

Source: Fox News Politics

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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)

Source: OANN

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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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