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Judge orders SEC, Tesla’s Musk to meet for at least an hour on new settlement

FILE PHOTO: Tesla CEO Elon Musk arrives at Manhattan federal court
FILE PHOTO: Tesla CEO Elon Musk arrives at Manhattan federal court for a hearing on his fraud settlement with the Securities and Exchange Commission (SEC) in New York City, U.S., April 4, 2019. REUTERS/Shannon Stapleton

April 5, 2019

NEW YORK (Reuters) – A federal judge in Manhattan on Friday ordered Tesla Inc Chief Executive Elon Musk and the U.S. Securities and Exchange Commission to meet for at least an hour to try to settle the agency’s concerns over the billionaire entrepreneur’s use of Twitter.

The SEC had asked U.S. District Judge Alison Nathan to hold Musk in contempt over a Feb. 19 tweet in which the agency said he had improperly posted material information about Tesla’s vehicle production outlook without first seeking approval from its lawyers.

In an order on Friday, the judge gave both sides until April 18 to reach a resolution. If they do not, the judge said she would decide whether to hold Musk in contempt. If he is held in contempt, the judge will allow the parties to weigh in on possible sanctions.

The case has high stakes for Tesla.

When the SEC initially sued Musk in September, it had asked for his removal. The two sides settled in October, with Musk agreeing to step down as Tesla’s chairman. The agreement also called for pre-approval of Musk’s written communications that could be material to the company.

At a court hearing on Thursday, the SEC suggested that greater oversight of Musk’s communications, including the threat of new fines if he backslides, would be an adequate remedy.

“This was a warning. I don’t think he gets a second warning,” said Marc Leaf, a former SEC lawyer in New York.

In a statement on Thursday, Musk stood by his actions.

“I have great respect for Judge Nathan, and I’m pleased with her decision today. The tweet in question was true, immaterial to shareholders, and in no way a violation of my agreement,” he said in the statement released by Tesla.

The October settlement resolved a lawsuit over a tweet last Aug. 7 in which Musk said he had “funding secured” to take Tesla private at $420 per share.

The Feb. 19 tweet said: “Tesla made 0 cars in 2011, but will make around 500k in 2019,” meaning 500,000 vehicles. Four hours later Musk corrected himself, saying annualized production would be “probably around” 500,000 by year end, with full-year deliveries totaling about 400,000.

The SEC said the first of the Feb. 19 tweets conflicted with Tesla’s Jan. 30 outlook, when it targeted annualized Model 3 production exceeding 500,000 as soon as the fourth quarter, and projected 360,000 to 400,000 vehicle deliveries this year.

At the time the SEC also said that Musk had violated their agreement by sending a tweet that had not been vetted by Tesla’s lawyers and he should be held in contempt. It did not say what penalties it wanted imposed, raising the question of whether it would again seek his removal or propose lesser measures.

Musk’s lawyers countered that the first Feb. 19 tweet contained nothing new, and that the SEC had conceded during settlement talks that Musk did not need pre-approval for all tweets about Tesla.

(Reporting by Peter Henderson and Noeleen Walder; Editing by Howard Goller)

Source: OANN

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California’s early primary poised to pull 2020 Democrats further left

A Democratic presidential primary field that already embraces the Green New Deal and has floated ideas like reparations and guaranteed jobs could drift even further left thanks to a quirk in this year’s primary calendar.

Unlike past elections, California will hold its primary early in the season – on March 3, 2020. That means the West Coast state, and its famously liberal voters, will hold extra influence this cycle. And while the 2020 candidates still have to connect with supporters in earliest-voting Iowa and New Hampshire – with their more moderate-leaning electorates – California’s combination of an early primary and massive delegate count could motivate the field to run decisively in the progressive lane from the start.

DEMOCRATIC PRESIDENTIAL CANDIDATES TO DEBATE IN FORUM FOCUSED ON LGBTQ ISSUES

“The Democratic electorate is much more progressive than almost any state,” said Roger Salazar, spokesman for the California Democratic Party. “All of that is going to help bring up some of the core issues Californians care about.”

He listed the environment, health care, immigration and economic injustice as top issues among California Democrats – incidentally, issues that many 2020 candidates are already talking about. Climate change, in particular, has been a rallying cry for candidates, with Washington Gov. Jay Inslee making it the centerpiece of his campaign. Salazar said he’s already seen an ad from Inslee – the earliest primary ad he’s ever witnessed in the state.

“I think Californians are ready for 2020,” he said. “It’s already begun.”

In another sign of California’s emerging influence this cycle, putative front-runner Sen. Bernie Sanders plans to visit the state this week.

Back in 2016, California’s primary was June 7, making it a virtual afterthought for the primary field.

Not only is California’s primary now slated for Super Tuesday in March, but early voting is set to start around the time of the Iowa caucuses. With that in mind, Sanders’ visit this week is likely the start of a political gold rush of sorts, as the 2020 candidates look west for electoral gold.

California currently is worth nearly 500 delegates in the primary. By comparison, Iowa yields roughly 50 delegates, while New Hampshire has close to 30.

Sanders already has put in some face time in California, campaigning for candidates there during the 2018 midterms, and also in 2016 during a last-ditch attempt to defeat Hillary Clinton in the presidential primary. Former Vice President Joe Biden, who has not made his official 2020 plans public, also spent much of the midterms campaigning and fundraising with candidates out west. Other candidates, like Sen. Elizabeth Warren of Massachusetts, have made stops to the Golden State already this cycle.

Another top candidate, Kamala Harris, has a built-in advantage on the California battleground as the state is her home turf. Now a U.S. senator, Harris used to serve as California attorney general – and kicked off her campaign in Oakland, highlighting those roots.

BERNIE SANDERS AND BETO RESONATING STRONGLY WITH DEMS, WARREN NOT SO MUCH: RESEARCHER

How much California voters are able to refocus the field’s agenda remains to be seen. But some strategists argue that what those voters want to see most is someone capable of beating President Trump.

“California voters want to see a candidate who can beat Donald Trump,” said Nathan Ballard, a Democratic strategist in the state and longtime friend and adviser to Democratic Gov. Gavin Newsom. “California will not be home for an ideological purity test.”

Brian Brokaw, a Democratic strategist who worked on Harris’ Senate race, agreed, saying while California Democrats are more liberal on certain issues, they are determined to beat Trump above all else.

“This is California,” said Brokaw. “The heart of the resistance to President Trump and the administration.”

Still, he said issues like immigration will probably be discussed more given the state’s demographics.

“We have a very different view of immigration than the Trump administration likes to put out,” said Brokaw. Issues like Deferred Action for Childhood Arrivals – which made headlines during much of Trump’s first year in office – remain prominent in California. “Without a doubt, candidates will need to weigh in on their views with DACA.”

California will also shake up the race in another way: by forcing candidates to spend big, and early.

Not only is the media market among the most expensive in the country, but the size of the state presents challenges for candidates limited on time and resources.

Here, too, Harris enjoys an advantage, with built-in name identification and a donor network already in place. She’s the only one in the field who has competed statewide.

“The fact that California is an early state is something going to be very advantageous to her,” said Brokaw, who remains unaffiliated but said he’ll likely support Harris. “The Bay Area always plays an important role in the statewide primary ... [and] that’s her backyard. The stars are aligning quite well.”

Fox News reached out to several of the declared candidates’ campaigns to ask about competing in California. Few returned requests for comment. A spokesperson for Andrew Yang – one of the lesser-known candidates – told Fox News that their team is excited to run in such a large state early in the process and added the campaign has over 10,000 donors in California.

Harris and Sanders’ campaigns did not return requests for comment.

Source: Fox News Politics

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Struggling industry saps German business morale as trade woes bite

Aerial view of containers at a loading terminal in the port of Hamburg
FILE PHOTO: Aerial view of containers at a loading terminal in the port of Hamburg, Germany August 1, 2018. REUTERS/Fabian Bimmer

April 24, 2019

By Paul Carrel and Jörn Poltz

BERLIN/MUNICH (Reuters) – German business morale deteriorated in April, bucking expectations for a small improvement, as trade tensions hurt the industrial engine of Europe’s largest economy, leaving domestic demand to support slowing growth.

The Munich-based Ifo economic institute said on Wednesday its business climate index fell to 99.2 in April from an upwardly revised 99.7 in March, the first rise after six straight declines. The consensus forecast for a rise to 99.9.

“March’s gentle optimism regarding the coming months has evaporated,” Ifo President Clemens Fuest said in a statement. “The German economy continues to lose steam.”

Ifo sub-indices on current conditions and expectations fell in April.

Last week, Economy Minister Peter Altmaier said that Berlin expected gross domestic product to grow by 0.5 percent this year after an expansion of 1.4 percent in 2018.

The government had already cut its 2019 forecast in January to 1.0 percent growth from 1.8 percent previously. Long the euro zone’s economic powerhouse, Germany is in its 10th year of expansion, but only narrowly avoided recession last year.

German exporters are struggling with weaker demand from abroad, trade tensions triggered by U.S. President Donald Trump and business uncertainty caused by Britain’s planned departure from the European Union.

“Pessimism is increasing,” Ifo economist Klaus Wohlrabe told Reuters. “The industrial sector is dragging down the German economy.”

Late last month, German lighting company Osram cut its forecast for the fiscal year 2019, citing market weakness in the automotive industry, general lighting and mobile devices as well as a broader economic slowdown.

A delay to Brexit, which leaders from the remaining 27 EU countries granted Britain earlier this month, did not buoy German business morale.

“The uncertainty has receded slightly, but is still very high,” Wohlrabe added.

In a fresh development in the trade difficulties unnerving German businesses, Trump said on Tuesday European tariffs facing motorcycle manufacturer Harley Davidson Inc were “unfair” and vowed to reciprocate.

The difficult trade environment means that Germany’s vibrant domestic demand, helped by record-high employment, inflation-busting pay increases and low borrowing costs, is expected to be the sole driver of growth this year and next.

Germany’s HDE retail association on Wednesday confirmed its forecast that sales would rise 2 percent this year, marking a 10th straight year of growth.

“The domestic economy remains a pillar of support,” said Ifo’s Wohlrabe.

However, the HDE added that although it did not yet have a forecast for 2020 sales, it expected the industrial slowdown to affect retailers.

(Additional reporting by Michelle Martin, editing by Larry King)

Source: OANN

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Top Ranking Dem Says Mueller Report Doesn’t Matter — ‘We Know There Was Collusion’

House Judiciary Committee Chairman Jerry Nadler confirmed Sunday that Congress will continue to investigate President Donald Trump regardless of the conclusions reached by special counsel Robert Mueller.

“We know there was collusion,” Nadler insisted several times during an appearance on CNN’s “State of the Union” with guest host Dana Bash. “Why there’s been no indictments, we don’t know.”

Nadler listed the Trump Tower meeting — which has been the subject of numerous false reports — and the way Trump “pressured the FBI to go easy, to stop investigating Flynn,” and Trump firing Comey as evidence of the alleged “collusion.”

Bash pointed out several times that none of that rose to the level of indictment from the Mueller team, but Nadler quickly shrugged it off.

“Well, there have been obstructions of justice, whether they are — clearly, whether they are criminal obstruction is another question,” Nadler explained.

“But we have — the special prosecutor is limited in scope. His job was limited in scope and limited to crimes. What Congress has to do is look at a broader picture. We are in charge — we have the responsibility of protecting the rule of law, of looking at obstructions of justice, abuses of power, at corruption, in order to protect the rule of law so that our democratic institutions are not greatly damaged by this president.”

Nadler’s response made it clear that Congressional Democrats are likely moving forward with any number of investigations — in spite of warnings from Senate Majority Leader Mitch McConnell regarding the possible consequences of “presidential harassment.”


Source: InfoWars

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Tencent fourth-quarter profit drops 32 percent, steepest quarterly fall ever

Logos of Tencent are displayed at a news conference in Hong Kong, China
Logos of Tencent are displayed at a news conference in Hong Kong, China March 22, 2017. REUTERS/Tyrone Siu

March 21, 2019

HONG KONG (Reuters) – Tencent Holdings said on Thursday net profit for the quarter ended December fell a sharper-than-expected 32 percent, the most on record for a quarter, as a regulatory review weighed on its gaming business.

Net profit at Asia’s second-most valuable listed company for the September-December quarter was 14.2 billion yuan ($2.12 billion), against the 18.3 billion yuan average estimate of 16 analysts, according to Refinitiv data.

Revenue in the quarter rose 28 percent to 84.9 billion yuan, slightly ahead of an average estimate of 83 billion yuan from 19 analysts. Tencent attributed that in part to strong growth in sponsorship advertising revenue.

Tencent declared a final dividend of HK$1.00 per share versus HK$0.88 in 2017.

(Reporting by Sijia Jiang; Editing by Muralikumar Anantharaman)

Source: OANN

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Nicaragua opposition eyes imminent deal on prisoner releases

Nicaragua's opposition is hoping for approval Friday of a schedule for freeing 640 people considered political prisoners, a leader of the opposition group Civic Alliance told The Associated Press.

Azahalea Solis, one of the main leaders of the Alliance and a negotiator in talks with the government aimed at resolving a political standoff, also said in an interview that 162 others released from prison and placed under house arrest since February would be granted more definitive freedom under a proposed deal.

"We hope to have ready today, Friday, the agreement for the liberation of the political prisoners, including the exit schedule for every one of them without exception," Solis said.

She added that efforts are being made for the latest releases to begin this weekend or Monday, and confirmed that all 802 people detained since protests erupted last April would have unrestricted freedom and see their charges and trials annulled.

Security forces and armed, pro-government civilian groups killed hundreds in their crack down on demonstrators who sought President Daniel Ortega's exit from office last year, according to independent monitors.

This week, as negotiations that began Feb. 27 were on hold over the issue of jailed government opponents, Ortega's government agreed to release them all within 90 days, prompting opposition negotiators to return to the table. In the past, authorities have repeatedly characterized anti-government demonstrators as "terrorists" and "coup-plotters."

Speaking Thursday night at a political event, the president told supporters in an apparent allusion to the negotiations that "we do not all think alike, but despite our ideological and differences, we must unite around a sacred goal, which is peace."

Solis told the AP that the 90-day window for releases is a maximum and could end up being shorter.

Still, she cautioned that it will be "a slow and complex" process because it entails documenting a long list of individual cases, including prisoners who have not been prosecuted, others facing trial and some who have already been convicted.

Solis said the Civic Alliance has demanded that police stop detaining government opponents, because otherwise "the list of prisoners will keep growing."

"May all of them go free and clean, without a criminal record, because all the arrests were illegal and due process was violated," Solis said.

The opposition is also seeking guarantees for the safe return of some 52,000 people who have fled the country, and asking that government opponents be able to secure jobs, return to university and get medical care.

Solis said the Alliance will also demand discussion of disarming the pro-government paramilitary groups that attacked protesters, often visibly in coordination with security forces.

The opposition is continuing to seek an early date for elections currently scheduled for 2021.

"Our demand remains the same," Solis said, "free, early and monitored elections."

At least 325 people were killed in last year's violence, according to the Inter-American Commission on Human Rights. The government puts the figure at 198, and other human rights groups say it tops 500.

The Organization of American States and the Roman Catholic Church are observing the negotiations.

Source: Fox News World

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Senior White House adviser Jared Kushner said Tuesday that a detailed plan for a merit-based immigration system will be presented to President Trump, giving priority to skilled immigrants rather than those with family ties to the U.S.

“I do believe that the president’s position on immigration has been maybe defined by his opponents by what he’s against as opposed to what he’s for,” Kushner said at the Time 100 Summit in New York City. “What I’ve done is I’ve tried to put together a very detailed proposal for him.”

KUSHNER: RUSSIA INVESTIGATION HAD ‘HARSHER IMPACT’ ON US THAN ELECTION MEDDLING

Kushner announced that the new immigration proposal, which Trump will receive this week or next, will resemble the point-based systems in Canada, Australia and New Zealand, and will unify people by ensuring strong wages and secure borders while protecting humanitarian values.

“We want to protect our country’s humanitarian values. We want to make sure we’re reunifying families, and we want to do this in a way that allows our country to be competitive long term,” he said. “And my hope is we can really do something that unifies people around what we’re for on immigration.”

“We want to protect our country’s humanitarian values. We want to make sure we’re reunifying families, and we want to do this in a way that allows our country to be competitive long term. And my hope is we can really do something that unifies people around what we’re for on immigration.”

— Jared Kushner

JARED KUSHNER RESPONDS AFTER HASAN MINHAJ CALLS OUT HIS TIES TO SAUDI PRINCE

Kushner denied in the same talk that he has clashed with White House staffer Stephen Miller, who’s seen as tougher on immigration than others, adding that the plan was concocted with the help of Miller and Kevin Hassett, chairman of the Council of Economic Advisers.

“And I say that If that if I can get Stephen Miller and Kevin Hassett to agree on an immigration plan, then Middle East peace will be easy by comparison,” Kushner joked, referring to the Israel-Palestine peace plan he’s working on.

“And I say that If that if I can get Stephen Miller and Kevin Hassett to agree on an immigration plan, then Middle East peace will be easy by comparison.”

— Jared Kushner

After the plan gets presented to Trump, it will likely undergo some changes and then he will decide when to proceed with it, Kushner said.

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“It’s very, very complicated, but it’s a very interesting issue, and if we can solve it, I do think it’s a critical component for America’s long-term competitive advantage,” he added.

The Associated Press contributed to this report.

Source: Fox News Politics

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Brazilian President Jair Bolsonaro on Thursday said his government must make men aware of the dangers of poor hygiene after expressing dismay over the 1,000 penis amputations that apparently occur in his country each year.

“In Brazil, we have 1,000 penis amputations a year due to a lack of water and soap,” he said while speaking to reporters in Brasilia after visiting the Education Ministry. “We have to find a way to get out of the bottom of this hole.”

The far-right leader called the figure “ridiculous and sad,” Reuters reported. A spokeswoman for the Brazilian urology society told the news agency the number is based on its official data for penis amputations.

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The amputations were conducted out of necessity over untreated infections, along with complications from HIV and various cancers, she said.

Source: Fox News World

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A top Russian diplomat says Russia is willing to negotiate a new nuclear weapons treaty with the United States and China.

Deputy Foreign Minister Sergei Ryabkov told reporters on Friday Moscow is closely following reports in the United States that the U.S. would like to reach a nuclear weapons deal with both Russia and China, and is “willing” to negotiate. The story was reported by CNN earlier Friday.

Ryabkov also said that Russia “would like to convince” the U.S. to adopt a joint statement that would condemn any use of nuclear weapons.

Ryabkov’s comments come just months after the U.S. withdrew from the Intermediate-Range Nuclear Forces Treaty, a cornerstone of the post-Cold War security, and Russia followed suit. Each claims breaches by the other.

Source: Fox News National

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Government dysfunction and an intelligence failure that preceded the Easter Sunday bombings in Sri Lanka are traced to simmering divisions between the president and prime minister after a weekslong political crisis that crippled the country last year.

The government has admitted to a “lapse of intelligence” after officials failed to act upon near-specific information received from foreign agencies. Suicide bombers exploded themselves last Sunday in three churches and three luxury hotels, killing 253 people and wounding 400 more. Authorities said eight Muslim militants blew themselves up at their targets while the wife of one of the attackers blasted herself on being rounded up by police.

The carnage has brought forth arguments that worshippers and holidaymakers fell victim to the rivalry and a lack of communication between the country’s two leaders — President Maithripala Sirisena and Prime Minister Ranil Wickremesinghe.

The Cabinet led by Wickremesinghe says neither he nor his ministers were informed of the intelligence received by the defense authorities. Sirisena is the head of state, defense minister, minister in charge of the police and head of the armed forces. He also chairs the National Security Council, which includes the heads of security agencies and departments. Traditionally the prime minister also plays an important role on the council.

According to Health Minister Rajitha Senaratne, Sirisena has not included Wickremesinghe in national security affairs since a dispute between them came into the open in October last year. This is an unusual departure from the protocol, he said.

Senaratne said that Sirisena was overseas when the attacks took place and even after that, the National Security Council refused to meet with Wickremesinghe as he tried to give them instructions.

Sirisena has also said that he was not informed of the intelligence received and vowed to overhaul the leadership of the defense forces.

The top bureaucrat at the Defense Ministry, Hemasiri Fernando, has resigned at Sirisena’s insistence.

“It is a major factor,” said Jehan Perera, the head of local activist group National Peace Council, referring to the alleged lack of coordination between the leaders contributing to the failure to prevent the attacks.

“The primary responsibility has to be taken by the president, he did not give the information and he did not act,” Perera said. “He had the Ministry of Defense, took the police from the prime minister, chaired the National Security Council meetings and did nothing,” Perera said.

Kusal Perera, a journalist and political commentator, says security and intelligence officials should have acted on the information whether or not they received orders from politicians.

“If they (Wickremesinghe and his party) were not invited to the National Security Council, why did not they say in Parliament that they were not responsible for the security of the country any longer,” said Perera, who is not related to Jehan Perera.

“Saying that now is taking political advantage, not taking responsibility,” he said.

Sirisena and Wickremesinghe belong to different political parties but came together for Sirisena’s presidential campaign in 2015. Their relationships broke down and their differences exploded last year when Sirisena suddenly sacked Wickremesinghe as prime minister and appointed in his place former strongman Mahinda Rajapaksa, whom he defeated in the presidential election. The crisis crippled the country for more than seven weeks to the point of not being able to pass this year’s national budget on time.

A court decision compelled Sirisena to reappoint Wickremesinghe, but the two leaders have been rivals within the same government.

Rajapaksa, who is the minority leader in Parliament, blames the government for weakening intelligence and dropping its guard, which he had maintained to defeat the separatist Tamil Tiger rebels 10 years ago to end the 26-year-old civil war. He also criticized the government for the detention of intelligence officers accused of extrajudicial killings and abductions during the closing days of the war, which he said crippled the security apparatus before the bombings. According to conservative U.N estimates, some 100,000 people were killed in Sri Lanka’s conflict.

Sirisena summoned an all-party conference Thursday to which Wickremesinghe was also invited. At the conference, Sirisena stressed “setting aside all the political beliefs and difference (so that) everybody should collectively commit towards building a peaceful environment within the country,” a statement from his office said.

“It is not a secret that the disagreements between me and the government aggravated over the past two years,” Sirisena told the country’s media executives Friday. “One of the reasons for that is weakening of military intelligence and arresting military officials unnecessarily and my speaking up against it within and outside the government.”

Jehan Perera said that the security threat could prove politically advantageous to Rajapaksa and his family, with a presidential election scheduled at the end of this year. Gotabhaya Rajapaksa, a younger brother of Mahinda, was the powerful defense secretary during his brother’s reign and has expressed his interest to join the contest.

“People are saying we want a stronger leader and they are talking about Gotabhaya. It (the blasts) has worked to their benefit,” Perera said.

Source: Fox News World

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Cyprus police are intensifying a search for the remains of more victims at locations where an army officer, who authorities say admitted to killing five women and two girls, allegedly had dumped their bodies.

Police said Friday’s search will concentrate on a military firing range, a reservoir and a man-made lake near an abandoned mine approximately 32 kilometers (20 miles) west of the capital Nicosia.

On Thursday, the 35-year-old suspect told investigators that he had killed four more people than he had previously admitted to. All the suspect’s alleged victims are foreign nationals.

Police have already found the bodies of a 38-year-old Filipino woman and two as yet unidentified women.

Search crews are now looking for the daughter of the 38-year-old, a Romanian mother and daughter and another Filipino woman.

Source: Fox News World

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