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Southwest removes 737 MAX jets from schedule through August 5

FILE PHOTO: A number of grounded Southwest Airlines Boeing 737 MAX 8 aircraft are shown parked at Victorville Airport in Victorville, California
FILE PHOTO: A number of grounded Southwest Airlines Boeing 737 MAX 8 aircraft are shown parked at Victorville Airport in Victorville, California, U.S., March 26, 2019. REUTERS/Mike Blake

April 12, 2019

CHICAGO (Reuters) – Southwest Airlines Co said on Thursday it would remove its 34 Boeing Co 737 MAX jets from its flying schedule through Aug. 5, leading to around 160 daily flight cancellations during the revised summer schedule.

In a statement, Southwest President Tom Nealon said the decision is meant to “increase the reliability of our schedule and reduce the amount of last-minute flight changes,” especially during the summer travel season.

(Reporting by Tracy Rucinski; Editing by Leslie Adler)

Source: OANN

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German lawmakers reject far-right deputy speaker candidate

German lawmakers have rejected the far-right Alternative for Germany party's proposed candidate for deputy speaker of parliament for the third time.

It is customary for each party in the Bundestag to have a deputy alongside speaker Wolfgang Schaeuble, a veteran conservative lawmaker.

Alternative for Germany's candidate, Mariana Harder-Kuehnel, received 199 votes in favor and 423 votes against Thursday. She received more than twice the number of votes as the number of lawmakers her party has in parliament.

Harder-Kuehnel has a relatively moderate reputation within the party. Her colleague Albrecht Glaser, who was first nominated by Alternative for Germany in 2017, was rejected after suggesting that freedom of religion shouldn't apply to Islam.

Source: Fox News World

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Cardinal Dolan says Notre Dame Cathedral will rise again: ‘This fire won’t have the last word’

Cardinal Timothy Dolan, the archbishop of New York, cited biblical text to help make sense of the catastrophic fire that engulfed the upper reaches of Paris’ soaring Notre Dame Cathedral as it was undergoing renovations Monday.

“It affects all the senses,” he said. “I can see us rising from this dying.”

He added: “This fire won’t have the last word.”

SHOCKING PHOTOS: NOTRE DAME CATHEDRAL CATCHES FIRE

The fire had been threatening one of the greatest architectural treasures of the Western world as tourists and Parisians looked on aghast from the streets below. Paris fire chief Jean-Claude Gallet said the church's structure remained intact.

The blaze collapsed the cathedral’s spire and spread to one of its landmark rectangular towers. A spokesman said the entire wooden frame of the cathedral would likely come down, and that the vault of the edifice could be threatened too.

Dolan offered hope amid the disaster continually at his New York City news conference: “This Holy Week teaches us that, like Jesus, death brings life. Today's dying, we trust, will bring rising.”

Dolan said the fire struck at the heart of civilization, a spiritual home that has endured moments of smiles and tears.

Earlier in the afternoon, Dolan tweeted: “I just went next door to our own beloved Cathedral, Saint Patrick’s, to ask the intercession of Notre Dame, our Lady, for the Cathedral at the heart of Paris, and of civilization, now in flames! God preserve this splendid house of prayer, and protect those battling the blaze.”

Built in the 12th and 13th centuries, Notre Dame is the most famous of the Gothic cathedrals of the Middle Ages as well as one of the most beloved structures in the world. Situated on the Ile de la Cite, an island in the Seine River, the cathedral’s architecture is famous for, among other things, its many gargoyles and its iconic flying buttresses.

Among the most celebrated works of art inside: its three stained-glass rose windows, placed high up on the west, north and south faces of the cathedral. Its priceless treasures also include a Catholic relic, the crown of thorns, which is only occasionally displayed, including on Fridays during Lent.

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“It was with horror that I saw the pictures of Notre Dame Cathedral in Paris ablaze.  Having visited that magnificent gothic Church and prayed in it many times, I join all of those in France and elsewhere who receive this news with such pain,” Cardinal Donald Wuerl of the Archdiocese of Washington said in a statement to Fox News.

“In a special way, we offer our prayers and express our solidarity with all the people of France and particularly the faithful of the Church of Paris of which Notre Dame is the Cathedral.”

Source: Fox News World

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Fed may need to buy more bonds than before crisis to manage U.S. rates: official

FILE PHOTO: The Federal Reserve Board building on Constitution Avenue in Washington
FILE PHOTO: The Federal Reserve Board building on Constitution Avenue in Washington, U.S., March 27, 2019. REUTERS/Brendan McDermid/File Photo

April 17, 2019

The Federal Reserve may need to buy more government bonds than it did before the 2008 financial crisis and conduct other money-market operations to implement its current approach to managing U.S. interest rates, a top central bank official said on Wednesday.

The Fed this year decided to indefinitely manage short-term interest rates by tweaking the interest it pays banks on excess money they keep at the central bank, a process that requires the central bank to keep a larger “balance sheet” and more bank reserves on hand than it did prior to the global financial crisis.

After that crisis, the Fed bulked up its holdings by buying Treasuries using bank reserves it created. In March, Fed officials decided to stop letting those reserves and its bond holdings decline. And to keep control of rates, officials will eventually have to start buying bonds again and building up bank reserves.

“The size of these purchases will need to be larger than similar pre-crisis operations,” in part because the Fed’s other liabilities – including paper currency and the U.S. government’s accounts – are bigger, Federal Reserve Bank of New York official Lorie Logan said in remarks prepared for delivery at an event in New York. The purchases would be “gradual and mechanical,” she said.

Logan is head of Market Operations Monitoring and Analysis at the Federal Reserve Bank of New York, which implements the Fed’s monetary policies by trading in the market and managing the central bank’s portfolio.

She said bank reserves are currently ample enough to manage interest rates well currently.

(Reporting by Trevor Hunnicutt; editing by Diane Craft)

Source: OANN

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Sudan’s economic decline provides fuel for anger against Bashir

Samir Gasim is seen inside his office in his confectionary and cardboard packaging factory during a Reuters interview on the outskirts of Khartoum
Samir Gasim is seen inside his office in his confectionary and cardboard packaging factory during a Reuters interview on the outskirts of Khartoum, Sudan January 27, 2019. REUTERS/Patrick Werr

February 20, 2019

By Patrick Werr and Khalid Abdelaziz

KHARTOUM (Reuters) – As Samir Gasim reels off the problems facing his Khartoum confectionery and packaging factories, already running well below capacity, the power cuts and generators kick in.

Now he fears the plants may close entirely due to a sudden, eightfold hike in industrial diesel prices imposed by a government desperately short of foreign currency and facing the biggest popular protests since President Omar al-Bashir came to power 30 years ago.

“We are in favor of eliminating subsidies, but gradually, over five years. Not overnight,” said Gasim, seated in his spartan factory office. “Otherwise it will be a disaster.”

Sudan’s worsening economic crisis has caused fuel, cash and bread shortages that in turn set off a wave of unrest that has surged across the country over the past two months.

The economic slide has also alienated the professional classes, who blame Bashir and the ruling National Congress Party for their troubles, according to businessmen, activists and academics. That has undermined Bashir’s authority and encouraged a protest movement that has persisted despite a security crackdown in which dozens have died.

The Sudanese Professionals’ Association (SPA), which has posted calls for protests on social media and organized strikes, draws in doctors, teachers and lawyers and others complaining of decades of economic mismanagement and isolation.

Founded in 2015, it was planning to submit a request to parliament to raise the base level from which monthly public sector salaries are calculated of 650 Sudanese pounds – now worth just $13.60 at the official exchange rate – on Dec. 25, six days after protests began to escalate.

“We decided to raise the ceiling of our demands from the improvement of wages and the working environment and the right to form professional unions, to demanding the end of the regime,” said Mohamed Yousef, an SPA spokesman and economics professor at Khartoum University.

“There was a big response to us because there is an economic crisis and failure of government, and fuel, bread and liquidity crises.”

INFILTRATORS

Officials have blamed the unrest on unnamed infiltrators and on Sudan’s international isolation, saying they are taking steps to address the economic turmoil. Bankers say U.S. sanctions, though reduced, have choked the economy.

Bashir, subject of an arrest warrant from the International Criminal Court (ICC) for alleged war crimes in Darfur and hoping for a financial lifeline from the International Monetary Fund, has tried to be measured in his response to burnish his international image, diplomats say. He has tempered warnings to protesters with expressions of sympathy for their plight.

But protests in Khartoum and other cities have continued almost daily, with demonstrators calling for an end to what they see as Bashir’s kleptocratic and incompetent rule. Popular chants include “Down, that’s it!” and “Peaceful, peaceful against the thieves”.

In a country where more than half the population of 42 million are under the age of 19, many of the protesters are young men and women struggling to find jobs that could pay them a living wage. Unemployment rose from 12 percent in 2011 to around 20 percent in recent years, with youth unemployment at more than 27 percent, according to IMF and World Bank estimates.

Businessmen say an unskilled factory worker in Khartoum earns from 1,000 to 1,500 pounds ($18 to $27) a month and a skilled worker may make double that, barely enough for a family to survive.

Some families in the capital have pulled their children out of school over the last year or are serving them fewer and less nutritious meals, making them more susceptible to disease, according to a government presentation to social workers last month in Khartoum.

The economic crisis has hit salaried staff, young people and the unemployed particularly hard. Families have had to sell scarce belongings and crime has risen, the presentation said.

Since the protests began the government has been spending even more money on largely imported, subsidized products including bread and fuel. But it has all but run out of the foreign currency it needs to pay for them, causing widespread shortages.

DEBTS

Sudan already has foreign debts of more than $50 billion, and has been struggling to attract new external financing. By the end of 2018, inflation was running at more than 70 percent. It then dipped to 43 percent, according to official figures, though one U.S.-based economist put it at nearly double that. [nL5N2064VK]

Authorities will likely continue to expand the money supply, exacerbating inflation, bankers and economists say.

It was a short-lived attempt to increase the price of bread to ease a shortage that sparked the current unrest. Raising the price of diesel for industry but not other consumers will cause yet more problems, warned Abbas Ali Elsayed, Secretary General of the Sudanese Chambers of Industry.

“This will lead to lots of corruption. People will start selling to factories on the black market. It will affect the competitiveness of factories,” he said.

Higher diesel prices will spread rapidly through the economy as the cost of running farm machinery, transport and industry surges, analysts say. They also risk crushing Sudan’s struggling manufacturers.

Factory owner Gasim had been investing to add chocolate bars and potato chips to the foodstuffs already produced in one of his plants. Diesel shortages, power failures and falling demand from consumers who can’t afford his products mean he has slashed output and shed workers instead.

Late last month, his suppliers told him the government had increased the diesel price for industry to 222 Sudanese pounds per imperial gallon from 28 pounds.

“We will have to close the factory completely if the price doesn’t go back down,” he said.

The 240 people he employs at the factory and a nearby cardboard packaging plant, and more than 100 seasonal staff, could be out of work.

Some older Sudanese remember different times before Bashir came to power in a coup in 1989.

Sudan’s major cities had 65 cinemas, many privately run, before Islamist governments under Bashir with a “hostile” attitude to the arts shut them all down, says film director Suleiman Ahmed Ibrahim.

“This is a part of modern life that young people in Sudan have lost, and could be one of the reasons they complain about the political system,” he said.

At universities, quality has fallen and many academics have gone overseas, while an emphasis on Islamic education has led to “the neglect of mathematics, science and arts”, said Ali Mohamed Othman, a 69-year-old professor at the Sudan University of Science and Technology.

University staff, like other members of the middle class, used to be able to get by on part of their salary. Now it only lasts a few days every month.

(Writing by Aidan Lewis and Patrick Werr; Editing by Giles Elgood)

Source: OANN

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Inside President Trump’s Mar-a-Lago Meltdown

Inside President Trump's Mar-a-Lago Meltdown

AP Photo/Jacquelyn Martin

The president is raging against his former staff and wants to sue Don McGahn—but staff think he and his lawyers blew it. You didn't have to send me in there, said one witness. But Giuliani says: Nothing to see here!

Read Full Article »

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Britain's Chancellor of the Exchequer Philip Hammond looks on during an interview with Reuters at the British Ambassador's residence in Beijing
Britain’s Chancellor of the Exchequer Philip Hammond looks on during an interview with Reuters at the British Ambassador’s residence in Beijing, China April 26, 2019. REUTERS/Florence Lo/Pool

April 26, 2019

BEIJING (Reuters) – British finance minister Philip Hammond said on Friday that he had a “very constructive meeting” with his counterpart in the opposition Labour Party before leaving for Beijing and that he was optimistic about finding common ground.

Hammond, speaking on the sidelines of a summit on China’s Belt and Road initiative in Beijing, said talks with Labour aimed at finding a way forward on Brexit had not stalled.

“I’m optimistic that we will find common ground,” he said. “Both sides have got clear positions and both sides will have to compromise in order to reach an agreement.”

Hammond added that he absolutely did not favor a no deal exit from the European Union.

(Reporting by Ben Blanchard; editing by Darren Schuettler)

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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