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IKEA to test furniture rental in 30 markets

People walk past an IKEA kitchen showroom downtown Stockholm
People walk past an IKEA kitchen showroom downtown Stockholm, Sweden April 17, 2018. Picture taken April 17, 2018. REUTERS/Anna Ringstrom

April 3, 2019

KAARST, Germany (Reuters) – IKEA will expand tests to allow customers to rent desks and sofas rather than buy them as it shifts away from selling low-cost disposable furniture in response to growing environmental concerns.

The world’s biggest furniture group first said it was looking into furniture leasing in February. It fleshed out its plans on Wednesday at an event held at its first ‘sustainable’ store in Kaarst, western Germany, opened in 2017.

“Testing out opportunities for leasing offers is one of the ways we are challenging ourselves to deliver on our transformation strategy,” said Jesper Brodin, chief executive of Ingka Group, which owns most IKEA stores.

“Climate change and unsustainable consumption are among the biggest challenges we face in society.”

IKEA’s move toward supporting a more circular economy comes as many young consumers say they want to minimize their impact on the environment, preferring to rent items ranging from clothing to cars.

Its business model has already come under pressure from the rise of online retail and a growing reluctance among younger shoppers to travel to its vast out-of-town stores, get the flat-pack furniture home and assemble it themselves.

Rent the Runway, which has previously only rented out designer apparel and accessories, said last month it will partner with Williams-Sonoma Inc’s West Elm brand to allow subscribers to rent home decor.

IKEA, which had global sales of 39 billion euros ($44 billion) last year, said it wants to develop subscription-based leasing offers to encourage products to be reused as many times as possible before being recycled.

It had already committed to make all its products from renewable and recycled materials by 2030 and also to design all its products to be reused, repaired and recycled. In 2018 it handled 1 million orders for spare parts to repair products.

IKEA has already started testing different furniture rental projects in the Netherlands, Sweden, Switzerland and Poland, and aims to expand the tests to all its 30 markets next year.

In Sweden and Switzerland, it is looking into providing furniture to companies on a subscription model, while in the Netherlands it is testing a rental package for students in cooperation with a housing association.

(Reporting by Emma Thomasson; Editing by Jan Harvey)

Source: OANN

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Hong Kong fourth-quarter growth weakest in three years as trade war takes toll

FILE PHOTO - A ferry sails past commercial buildings with Christmas decorations in Hong Kong
FILE PHOTO - A ferry sails past commercial buildings with Christmas decorations at the financial Central district in Hong Kong, China November 29, 2017. REUTERS/Bobby Yip/File Photo

February 27, 2019

By Donny Kwok and James Pomfret

HONG KONG (Reuters) – Hong Kong’s economic growth halved in the fourth quarter and the outlook for the financial hub is clouded by a trade war between Washington and Beijing, Financial Secretary Paul Chan said on Wednesday, as he announced his budget for Asia’s financial hub.

Hong Kong’s open and trade-reliant economy has been buffetted by external risks, including the U.S.-Sino trade war, an economic slowdown in China, cooling property prices and stock market volatility.

Chan said the economy grew 1.3 percent in the fourth quarter from a year earlier, the weakest increase since the first quarter of 2016, and slower than downwardly revised 2.8 percent growth in the previous three months.

The economy grew 3 percent for the full-year 2018, slightly slower than the government’s forecast of 3.2 percent.

Iris Pang, Greater China economist at ING, said in a report the weaker than expected growth was due to spillover from the U.S.-China trade dispute.

“This was mainly a result of the trade war, which dampened export activities and related jobs in Hong Kong and on the mainland, with negative feedback into consumption in Hong Kong.”

Hong Kong’s economy is forecast to expand 2-3 percent for this year and average 3 percent growth from 2020-2023, Chan said in his televised budget speech.

Hong Kong is expected to record a budget surplus of HK$58.7 billion ($7.5 billion) for 2018/2019, Chan said, less than half the bumper surplus of HK$148.9 billion announced for the previous financial year.

Hong Kong’s trade-reliant economy is vulnerable to simmering trade tensions between the world’s two largest economies and, if unresolved, they pose broader risks to the city this year.

As one of the most open and free economies in the world, Hong Kong’s growth is also highly reliant on capital, trade, tourist and investment flows from China.

Chan also rolled out tax cuts, including a 75 percent cut in salaries and profits tax, both capped at HK$20,000.

(Additional reporting by Twinnie Siu; Writing by Anne Marie Roantree; Editing by Jacqueline Wong)

Source: OANN

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Nvidia partners with Softbank to deploy cloud gaming servers in Japan

FILE PHOTO: The SoftBank Group logo displayed at the SoftBank World 2017 conference in Tokyo
FILE PHOTO: The logo of SoftBank Group Corp is displayed at SoftBank World 2017 conference in Tokyo, Japan, July 20, 2017. REUTERS/Issei Kato

March 18, 2019

(Reuters) – Chip designer Nvidia Corp said on Monday it has partnered with Softbank Group Corp and LG Uplus Corp to deploy cloud gaming servers in Japan and Korea later this year.

Nvidia makes graphics chips for PCs and laptops that help video games look more realistic. Now the company is putting those same chips inside servers in data centers so that gamers who do not have an Nvidia chip in their computer can stream games from the data center.

Nvidia said at a conference in San Jose, California, that it has created a “pod” of its graphics cards that can support up to 10,000 gamers streaming games at once.

The company said Softbank and LG Uplus would use the cards for services to let customers stream games over 5G networks, the next generation of wireless data networks.

(Reporting by Stephen Nellis in San Francisco and Munsif Vengattil in Bengaluru; editing by G Crosse)

Source: OANN

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U.S. shale oil output to hit record 8.4 million bpd in March: EIA

An oil pump is seen operating in the Permian Basin near Midland
FILE PHOTO: An oil pump is seen operating in the Permian Basin near Midland, Texas, U.S. on May 3, 2017. REUTERS/Ernest Scheyder

February 19, 2019

NEW YORK (Reuters) – U.S. oil output from seven major shale formations is expected to rise 84,000 barrels per day (bpd) in March to a record of about 8.4 million bpd, the U.S. Energy Information Administration said in a monthly report on Tuesday.

The largest change is forecast in the Permian Basin of Texas and New Mexico, where output is expected to climb by 43,000 bpd to a record 4.024 million bpd in March.

A shale revolution has helped boost the United States to the position of world’s biggest crude oil producer, ahead of Saudi Arabia and Russia. Overall crude production has climbed to a weekly record of 11.9 million bpd.

Production increases in the Permian, the biggest oilpatch in the United States, and the Bakken has led overall output increases in the country over the past year.

In North Dakota’s Bakken region, shale production is estimated to rise about 13,000 bpd to a record 1.45 million bpd in March. In the Eagle Ford region, output is expected to edge higher by 9,000 bpd to about 1.44 million bpd, which would be the highest monthly output since Jan 2016.

Meanwhile, U.S. natural gas output was projected to increase to a record 77.9 billion cubic feet per day (bcfd) in March. That would be up more than 0.8 bcfd over the February forecast and mark the 14th consecutive monthly increase.

Gas production was about 65.5 bcfd in March last year.

The EIA projected gas output would increase in all the big shale basins in March.

Output in the Appalachia region, the nation’s biggest shale gas play, was set to rise over 0.3 bcfd to a record high of 31.6 bcfd in March. Production in Appalachia was 26.9 bcfd in the same month a year ago.

The EIA said producers drilled 1,453 wells and completed 1,246 in the biggest shale basins in January, leaving total drilled but uncompleted wells up by 207 at a record high of 8,798, according to data going back to December 2013.

(Reporting by Devika Krishna Kumar in New York; editing by Jonathan Oatis and Marguerita Choy)

Source: OANN

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Cindy McCain shares hateful message she received about her family, late husband, after latest attack from President Trump

Cindy McCain shared a hateful message she received on Facebook from a stranger the same day President Donald Trump continued his attacks on her late husband, John McCain.

McCain, 64, posted a screenshot of the disgusting comment she was sent by a stranger, identified in the picture as “Tiffany Nicole.”

“I want to make sure all of you could see how kind and loving a stranger can be. I’m posting her note for her family and friends could see,” McCain wrote in a tweet accompanying the image.

The sender called McCain a vile name, labeled John McCain as “traitorous” and “warmongering.” The poster also mocked Meghan McCain’s appearance and said she hopes “The View” co-host “chokes to death.”

DONALD TRUMP'S FEUD WITH McCAIN FAMILY ESCALATES: 'I WAS NEVER A FAN'

Just hours before McCain posted the message on Twitter, President Trump took another shot at John McCain.

“I was never a fan of John McCain and I never will be,” Trump told reporters at the White House, during a meeting with Brazil's visiting president.

The comments came after Meghan McCain, who on Monday tore into the president during an emotional segment on “The View,” went back on the offensive on social media. The 34-year-old shared a Toronto Star cartoon on Instagram showing her late father’s military medals side-by-side with a collection of pacifiers under the heading “Donald Trump.”

Later in the night, Meghan McCain responded to Trump’s most recent attacks by tweeting, “As my father always used to say to me - Illegitimi non carborundum,” which means “Don’t let the b--tards grind you down.”

MEGHAN MCCAIN SLAMS DONALD TRUMP IN EMOTIONAL 'THE VIEW' SEGMENT: 'HE WILL NEVER BE A GREAT MAN'

Trump has repeatedly tweeted about John McCain in recent days, falsely claiming the late senator graduated “last in his class” at Annapolis and slamming his role in the Russia investigation.

“So it was indeed (just proven in court papers) “last in his class” (Annapolis) John McCain that sent the Fake Dossier to the FBI and Media hoping to have it printed BEFORE the Election. He & the Dems, working together, failed (as usual). Even the Fake News refused this garbage!” Trump tweeted Sunday morning.

On Saturday, the president responded to reports McCain and an associate had shared with the FBI and various media outlets the unverified dossier alleging that Moscow held compromising information on Trump.

“Spreading the fake and totally discredited Dossier ‘is, unfortunately, a very dark stain against John McCain.’ Ken Starr, Former Independent Counsel,” Trump wrote.

MEGHAN McCAIN HAS SHARP RESPONSE TO TRUMP'S JOHN MCCAIN DOSSIER TWEET

New York, NY - 2017: (L-R) Senator John McCain, Meghan McCain on 'The View', a visit for Meghan McCain's birthday, Monday, October 23, 2017. (Photo by Heidi Gutman /ABC via Getty Images)

New York, NY - 2017: (L-R) Senator John McCain, Meghan McCain on 'The View', a visit for Meghan McCain's birthday, Monday, October 23, 2017. (Photo by Heidi Gutman /ABC via Getty Images)

“He had far worse ‘stains’ than this, including thumbs down on repeal and replace [of the Obama-era Affordable Care Act] after years of campaigning to repeal and replace!”

CLICK HERE TO GET THE FOX NEWS APP

Trump has made a practice of attacking McCain, even after the former Arizona senator’s death in August of last year.

Source: Fox News Politics

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Dongfeng-Nissan JV says mid-term China sales plan has not changed

FILE PHOTO: The Nissan logo is seen at Nissan car plant in Sunderland
FILE PHOTO: The Nissan logo is seen at Nissan car plant in Sunderland, Britain February 4, 2019. REUTERS/Phil Noble

March 20, 2019

BEIJING (Reuters) – Nissan Motor’s China joint venture with Dongfeng has not made any changes to its mid-term China sales plan, a company spokeswoman told Reuters on Wednesday, responding to a report that it has cut its sales target.

“Dongfeng Motor Company Limited has not changed its mid-term China plan. We will study whether to change the plan based on the future market situation” the spokeswoman said.

Dongfeng Motor Company Limited is the joint venture between Nissan and Dongfeng in China.

Bloomberg reported earlier on Wednesday that the JV cut its 2022 China car sales target by about 8 percent, citing unnamed sources.

Reuters reported last year the Japanese carmaker plans to invest 60 billion yuan ($9.5 billion) in China over the next five years with its joint-venture partner as it seeks to become a top three automaker in the world’s biggest market.

(Reporting by Yilei Sun and Brenda Goh; Editing by Kim Coghill)

Source: OANN

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Boxing: Britain’s Fury signs bumper broadcast deal with ESPN

FILE PHOTO - Premier League - Manchester United v Arsenal
FILE PHOTO - Soccer Football - Premier League - Manchester United v Arsenal - Old Trafford, Manchester, Britain - December 5, 2018 Tyson Fury on the pitch at half time REUTERS/Darren Staples

February 18, 2019

(Reuters) – British heavyweight Tyson Fury has signed a broadcast deal under which his fights will be shown exclusively on ESPN platforms in the United States.

No financial details were disclosed, but British newspaper the Daily Mail reported on Monday that the deal was worth 80 million pounds ($103 million), while the BBC reported that it covered Fury’s next five fights.

Fury and promoter Frank Warren signed the deal with Bob Arum’s Top Rank Promotions, which has a multi-year contract with ESPN, and the agreement calls for Fury to fight a minimum of two bouts per year in the United States.

British broadcaster BT Sport will continue to hold the rights for Fury’s fights in the UK.

“I’m delighted,” Fury said. “With ESPN and BT Sport behind me, the biggest sports platforms in the world are now linked up with the best heavyweight in the world.”

The deal with ESPN could have an impact on the 30-year-old’s rematch with WBC heavyweight champion Deontay Wilder.

The American has been in negotiations with Fury’s camp over a rematch of their Dec. 1 draw at the Staples Center in Los Angeles, but Wilder has a long-term relationship with rival U.S. television network Showtime.

Their bout in December was aired on Showtime in the United States, and the two fighters’ relationships with the rival networks could complicate negotiations over the rematch.

Fury, however, said his deal with ESPN would make the Wilder fight easier to set up.

“As far as I’m concerned, the fight is more make-able now than ever, because we have the biggest boys in the game behind us,” he told BT Sport on Monday.

“I’m only a fighter, I can only fight who they put in front of me. I want the biggest fights – the (Anthony) Joshua’s, the Wilder’s of the world and everybody else out there too.”

($1 = 0.7741 pounds)

(Reporting by Simon Jennings in Bengaluru; Editing by Christian Radnedge)

Source: OANN

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Logo of the Exxon Mobil Corp is seen at the Rio Oil and Gas Expo and Conference in Rio de Janeiro
FILE PHOTO: A logo of the Exxon Mobil Corp is seen at the Rio Oil and Gas Expo and Conference in Rio de Janeiro, Brazil September 24, 2018. REUTERS/Sergio Moraes

April 26, 2019

(Reuters) – Exxon Mobil Corp on Friday reported first-quarter profit fell sharply on lower oil and gas prices and weakness in its refining and chemicals businesses that offset modest production gains.

The largest U.S. oil producer’s first quarter earnings fell to $2.35 billion, or 55 cents a share, from $4.65 billion, or $1.09 a share, a year ago.

Analysts had expected Exxon to earn 70 cents per share, according to Refinitiv Eikon estimates.

Shares were trading down about 2.7 percent in premarket trading on Friday.

Exxon’s oil equivalent production rose 2 percent to 4 million barrels per day, up from 3.9 million bpd in the same period the year prior. The company said its output in the Permian Basin, the largest U.S. shale basin, rose 140 percent over a year ago.

(Reporting by Jennifer Hiller; Editing by Chizu Nomiyama)

Source: OANN

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A Baha’i advocacy group has expressed concerns over the fate of minority Baha’is at the hands of Yemen’s Houthi rebels ahead of the appeals hearing for one of the community leaders sentenced to death.

The Baha’i International Community said in a statement Friday that the hearing for Hamed bin Haydara, detained in 2013 and sentenced to death last year on espionage and apostasy charges, is due on Tuesday.

The statement quotes Bani Dugal, the Baha’i community representative at the United Nations, as saying the prosecution hasn’t addressed Haydara’s appeal but is instead making “absurd, wide-ranging accusations.”

International rights groups have decried the prosecution of Yemeni Baha’is by the Iran-backed Houthis.

Iran has banned the Baha’i religion, which was founded in 1844 by a Persian nobleman considered a prophet by followers.

Source: Fox News World

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Afghan President Ashraf Ghani speaks during the inauguration of the newly-elected parliament in Kabul
Afghan President Ashraf Ghani speaks during the inauguration of the newly-elected parliament in Kabul, Afghanistan April 26, 2019. REUTERS/Omar Sobhani

April 26, 2019

By Rupam Jain and Hameed Farzad

KABUL (Reuters) – Afghan President Ashraf Ghani encouraged newly-elected lawmakers to participate in the peace process with the Taliban as he opened on Friday the first session of parliament since a controversial election.

Ghani has invited thousands of politicians, religious scholars and rights activists to an assembly known as a loya jirga next week to discuss ways to end the 17-year war.

Several opposition leaders have said they will boycott the four-day assembly in Kabul, saying it was pulled together without their input and is being used by Ghani as he seeks a second term in a September presidential election.

“We have presented the peace plan on a regular basis and we are committed to it,” Ghani said in the first session since parliamentary elections marred by technical problems, militant attacks and accusations of voting fraud last year.

“Based on this plan, there will be no peace deal and negotiation that does not have the green card of the parliament,” he added.

Officials from the United States and the Taliban have held several rounds of talks to end the Afghan war.

U.S. negotiator, Zalmay Khalilzad, has reported some progress toward an accord on a U.S. troop withdrawal and on how the Taliban would prevent extremists from using Afghanistan to launch attacks as al Qaeda did on Sept. 11, 2001.

The insurgents have so far rejected U.S. demands for a ceasefire and talks on the country’s political future that would include Afghan government officials.

The loya jirga, a centuries-old institution used to build consensus among competing tribes, factions and ethnic groups, is an attempt by Ghani to influence the peace talks and cement his position for a second term, Afghan politicians and Western diplomats say.

Amid growing political divisions in Kabul, opposition politicians have demanded that Ghani step down when his mandate ends next month, and give way to an interim government to oversee peace talks with the Taliban. Ghani has ruled that out.

The country’s top court said last week Ghani can stay in office until the presidential election in September.

(Reporting by Hameed Farzad, Rupam Jain, Editing by Darren Schuettler)

Source: OANN

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Deputy Attorney General Rod Rosenstein Thursday defended special counsel Robert Mueller’s investigation while slamming former President Barack Obama’s administration for being slow to take action on Russian interference in U.S. elections and ex-FBI Director James Comey for telling Congress the agency was investigating collusion between the Trump campaign and Russia.

“Our nation is safer, elections are more secure, and citizens are better informed about covert foreign influence schemes,” Rosenstein said in a speech to the Armenian Bar Association, marking his first public remarks after the Mueller report was released, reports CBS News.

He also pointed out that the investigation revealed a pattern of computer hacking and the use of social media to undermine elections as “only the tip of the iceberg of a comprehensive Russian strategy to influence elections, promote social discord, and undermine America, just like they do in many other countries,” reports The Wall Street Journal.

The Obama administration also made “critical decisions,” including choosing not to publicize the full story about Russian hackers and social media trolling, “and how they relate to a broader strategy to undermine America,” said Rosenstein.

He noted that the Mueller probe began after Comey disclosed during a hearing before Congress that President Donald Trump “pressured him to close the investigation and the president denied that the conversation occurred.”

Rosenstein said two years ago, when he was confirmed, he was told by a Republican senator that he would be in charge of the probe and that he’d report the results to the American people.

However, he said he didn’t promise to do that, because it is “not our job to render conclusive factual findings. We just decide whether it is appropriate to file criminal charges.”

Source: NewsMax Politics

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FILE PHOTO: The Huawei logo is pictured outside its Huawei's factory campus in Dongguan, Guangdong province
FILE PHOTO: The Huawei logo is pictured outside its Huawei’s factory campus in Dongguan, Guangdong province, China, March 25, 2019. REUTERS/Tyrone Siu/File Photo

April 26, 2019

By Ben Blanchard

BEIJING (Reuters) – Britain must get to the bottom of the leak of confidential discussions during a top-level security meeting about the role of China’s Huawei Technologies in 5G network supply chains, British finance minister Philip Hammond said on Friday.

News that Britain’s National Security Council, attended by senior ministers and spy chiefs, had agreed on Tuesday to bar Huawei from all core parts of the country’s 5G network and restrict its access to non-core elements was leaked to a national newspaper.

The leak of secret discussions has sparked anger in parliament and amongst Britain’s intelligence community. Britain’s most senior civil servant Mark Sedwill has launched an inquiry and written to ministers who were at the meeting.

“My understanding from London (is) that an investigation has been announced into apparent leaks from the NSC meeting earlier this week,” said Hammond, speaking on the sidelines of a summit on China’s Belt and Road initiative in Beijing.

“To my knowledge there has never been a leak from a National Security Council meeting before and therefore I think it is very important that we get to the bottom of what happened here,” he told Reuters in a pooled interview.

British culture minister Jeremy Wright said on Thursday he could not rule out a criminal investigation. The majority of the ministers at the NSC meeting have said they were not involved, according to media reports.

Hammond said he was unaware of any previous leak from a meeting of the NSC.

“It’s not about the substance of what was apparently leaked. It’s not earth-shattering information. But it is important that we protect the principle that nothing that goes on in national security council meetings must ever be repeated outside the room.”

Allowing Huawei a reduced role in building its 5G network puts Britain at odds with the United States which has told allies not to use its technology at all because of fears it could be a vehicle for Chinese spying. Huawei has categorically denied this.

There have been concerns that the NSC’s conclusion, which sources confirmed to Reuters, could upset other allies in the world’s leading intelligence-sharing network – the Five Eyes alliance of the United States, Britain, Australia, Canada and New Zealand.

However, British ministers and intelligence officials have said any final decision on 5G would not put critical national infrastructure at risk. Ciaran Martin, head of the cyber center of Britain’s main eavesdropping agency, GCHQ, played down any threat of a rift in the Five Eyes alliance.

(Writing by Michael Holden; Editing by Mark Heinrich)

Source: OANN

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