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Lawsuit threatened as Kentucky probes teacher 'sickouts'

An attorney has threatened to sue the Kentucky Department of Education for seeking the names of teachers who used sick days to protest at the state Capitol.

Ten Kentucky school districts have been forced to close several times since the end of February as teachers used their sick days so they could protest proposed legislation at the state Capitol. Education Commissioner Wayne Lewis sent a letter to those districts Thursday asking for the names of every teacher who called in sick on the days the district was forced to close.

Attorney Mark Wohlander notified the department Friday that he was preparing to file a federal civil rights lawsuit for the "unprecedented interference" with teachers' constitutional rights.

Lewis said he believes the potential lawsuit to be "frivolous."

Source: Fox News National

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Swiss National Bank unites economists in expecting rate freeze: Reuters Poll

The Swiss National Bank (SNB) is pictured next to the Swiss Federal Palace in Bern
FILE PHOTO: The Swiss National Bank (SNB) is pictured next to the Swiss Federal Palace (Bundeshaus) in Bern, Switzerland December 7, 2018. Picture taken December 7, 2018. REUTERS/Denis Balibouse

March 19, 2019

ZURICH (Reuters) – The Swiss National Bank will leave its ultra-loose policy alone on Thursday, said all the economists polled by Reuters, and most don’t expect any change until at least 2021.

All 32 economists polled by Reuters expect SNB Chairman Thomas Jordan to maintain the bank’s negative interest rates and readiness to intervene in currency markets to restrain the safe-haven Swiss franc.

They expect the SNB to keep its target range for the London Interbank Offered Rate (LIBOR) locked at -1.25 to -0.25 percent, the same level since it ditched its minimum exchange rate of 1.20 Swiss francs to the euro four years ago.

None of the respondents expect any change until the end of this year, especially in view of the European Central Bank’s slowing of its own policy normalization. Most forecast it will come in 2021 at the earliest.

“We do not expect the SNB to change interest rates before the end of 2020. In fact, if we are correct in our assessment that the ECB will be forced to re-start QE next year, upward pressure on the franc – and SNB concerns about deflation – are likely to intensify into 2020,” said Jack Allen at Capital Economics.

“This means the SNB may have to delve into its toolbox to ease policy next year,” Allen said. He thinks the SNB might take rates even further into negative territory if necessary.

There was also no disagreement about the negative interest rate the SNB charges on sight deposits. All the economists expect -0.75 percent to be maintained this week.

All but one expected the bank to retain its description of the franc as “highly valued”. That one expected it will be described as “significantly overvalued”. The franc has gained 3 percent against the euro in the last 12 months to trade around 1.1360.

A strong franc weighs on Switzerland’s export-reliant economy and also adds deflationary pressure. The SNB is expected to cut its 2019 inflation forecast on Thursday from its current view of 1 percent.

The SNB will have to wait at least until the ECB starts its monetary policy tightening — now delayed to 2020 at the earliest — before it begins its own path to normalization, analysts said.

“Pressure on the SNB is mounting from two sides: on the one hand, the financial industry and pension funds are increasingly coming under pressure, which puts pressure on the SNB to end the negative interest rate phase as early as possible,” said Alessandro Bee at UBS.

“On the other hand, the weakness in European growth and the various political risks lead to a higher risk of a Swiss franc appreciation. The SNB is between a rock and a hard place.”

(Reporting by John Revill, polling by Manjul Paul and Richa Rebello, editing by Larry King)

Source: OANN

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Klobuchar Punts Impeachment Talk: ‘I’m the Jury Here’

Democratic presidential candidate Sen. Amy Klobuchar, D-Minn., was non-committal about whether the House should impeach President Donald Trump — saying she would not "predispose" a matter that would be voted in the upper chamber.

At a CNN Town Hall on Monday, Sen. Klobuchar said the decision on whether to proceed with impeachment is one that will be made in the House.

"I believe I'm the jury here, so I'm not going to predispose things," she said. "I'm not going to say whether it is or isn't."

"The impeachment proceedings are up to the House," she explained. "They're going to have to make that decision. I am in the Senate," she said, adding she believes "very strongly that President Trump should be held accountable."

"I believe, first of all, we need to have hearings in both the House and the Senate and not just with Attorney General Barr," she said. "We need to bring Director Mueller before the United States Senate because otherwise we are never going to get to the bottom of it."

Sen. Elizabeth Warren, D-Mass., was the first Democratic 2020 contender to call for impeachment proceedings against Trump following the Mueller report's release last Thursday.

Source: NewsMax Politics

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‘Doggie Door Bandit’ sought by Oregon police after captured squeezing into home

It's not what the dog dragged in, but who dragged themselves in through the dog's door that's drawn the attention of authorities in Oregon.

The Clackamas County Sheriff's Office said in a news release that a burglary suspect used a doggie door to get into a home last Tuesday.

The incident happened in Clackamas around 10:30 a.m. when the man made a "brazen entry" into the home through the doggie door that was captured on a surveillance camera.

WOMAN STEALS ELECTRIC SCOOTER FROM WALMART, DRIVES IT TO WAFFLE HOUSE TO GET COFFEE, POLICE SAY

"The video clearly captures the suspect looking in the window, then entering through the doggie door," the sheriff's office said. "After the suspect realizes he's on camera, he attempts to conceal his identity by quickly pulling a hood tightly over his head and then covering the camera with a blanket."

The "Doggie Door Bandit" slipped into a home on April 2, before stealing several items, according to police.

The "Doggie Door Bandit" slipped into a home on April 2, before stealing several items, according to police. (Clackamas County Sheriff's Office)

After breaking into the home, police said the man stole several items from the home, including electronics and jewelry.

"However -- and fortunately for investigators -- the victim had a surveillance camera pointed in the suspect's direction," police said.

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The suspect is described by police as between 18 and 25 years old with a medium build. The man was wearing a black beanie, black hooded sweatshirt with "NBA" in white letters on the chest, light-grey sweats, black shoes with white soles, and black gloves

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Anyone who recognizes the suspect is asked to contact the sheriff's office tip line by phone at 503-723-4949 or leave a tip online. Tipsters are asked to reference case No. 19-007516.

Source: Fox News National

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Money-Supply Growth Slows in February

Money supply growth slowed in February, falling to the lowest rate recorded since February of last year.

Overall, money-supply growth remains well below the growth rates experienced from 2009 to 2016, and has fluctuated little since March of last year

In February, year-over-year growth in the money supply was at 3.1 percent. That was down from January’s growth rate of 3.3 percent, but was up from February 2018’s rate of 3.0 percent.

The money-supply metric used here — the “true” or Rothbard-Salerno money supply measure (TMS) — is the metric developed by Murray Rothbard and Joseph Salerno, and is designed to provide a better measure of money supply fluctuations than M2. The Mises Institute now offers regular updates on this metric and its growth.

This measure of the money supply differs from M2 in that it includes treasury deposits at the Fed (and excludes short-time deposits, traveler’s checks, and retail money funds).

M2 growth fell in February, growing 4.2 percent, compared to January’s growth rate of 4.3 percent. M2 grew 4.1 percent in February of last year. Like the TMS measure, the M2 growth rate has fallen considerably since late 2016, but has varied little in recent months.

Money supply growth can often be a helpful measure of economic activity. During periods of economic boom, money supply tends to grow quickly as banks make more loans. Recessions, on the other hand, tend to be preceded by periods of falling money-supply growth.

Many factors contribute to these trends. In recent months, money supply growth — in both M2 and TMS — has likely been impacted by falling growth rates in real estate loans at commercial banks. In February, real estate loans grew 2.9 percent, year over year, which was a 51-month low. The demand for mortgage loans has softened as mortgage rates have risen. In February, the 30-year, fixed average mortgage rate reached 4.4 percent, which was down from November’s recent high of 4.87. February 2018’s average mortgage rate was much lower, however, coming in at 4.33 percent. However, the Fed has recently signaled it plans to half increases in the target rate, and this may lead to more real-estate loan activity.

Source: InfoWars

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Asian shares tread water amid mixed growth signals

FILE PHOTO: Pedestrians are reflected on an electronic board showing stock prices outside a brokerage in Tokyo
FILE PHOTO: Pedestrians are reflected on an electronic board showing stock prices outside a brokerage in Tokyo, Japan December 27, 2018. REUTERS/Kim Kyung-Hoon

April 12, 2019

By Andrew Galbraith

SHANGHAI (Reuters) – Asian shares were flat and U.S. Treasury yields pulled back on Friday as investor caution prevailed ahead of the release of first-quarter corporate earnings, although stronger U.S. economic data helped offset some concerns about global growth.

Early in the trading day, MSCI’s broadest index of Asia-Pacific shares outside Japan was barely higher, up 0.03 percent.

Higher Chinese iron ore prices helped Australian shares outpace regional markets, pushing Australia’s S&P/ASX 200 index up 0.7 percent.

Japan’s Nikkei stock index gained 0.1 percent.

The weak gains in Asian markets followed a choppy session on Wall Street that left major indexes treading water, hemmed in by anxiety ahead of corporate earnings and worries about a global economic slowdown, which capped gains from upbeat U.S. economic data.

The Dow Jones Industrial Average fell 0.05 percent to 26,143.05, the S&P 500 closed flat at 2,888.32 and the Nasdaq Composite dropped 0.21 percent to 7,947.36.

Tempering expectations for a sharp slowdown in U.S. growth as data that showed the number of Americans filing applications for unemployment benefits dropped to a 49-1/2-year low last week

Comments from U.S. Federal Reserve Vice Chairman Richard Clarida that the U.S. economy is in a “good place” but reemphasizing the Fed’s patience on rate hikes, also helped to reassure investors.

“One of the big take away from the past few days has been the broad decline in volatility across markets,” National Australia Bank (NAB) analysts said in a morning note. NAB attributed the muted reaction to recent events to dovish policy shifts by central banks, signs that China’s stimulus measures are having an effect, continued U.S.-China trade talks and the Brexit delay.

International Monetary Fund Managing Director Christine Lagarde said on Thursday that the six-month delay of Britain’s exit from the European Union avoids the “terrible outcome” of a “no-deal” Brexit, but does nothing to lift uncertainty over the final outcome.

Underscoring ongoing threats to the health of the global economy, IMF Deputy Managing Director Mitsuhiro Furusawa warned that a bigger-than-expected slowdown in China’s economy remains a key risk to global growth.

U.S. Treasury yields inched lower amid the cautious retreat in shares, after earlier rising on the U.S. jobless claims data, stronger producer prices and a weak 30-year bond auction.

On Friday morning, the yield on benchmark 10-year Treasury notes fell to 2.4952 percent compared with its U.S. close of 2.504 percent on Thursday, while the two-year yield, touched 2.354 percent compared with a U.S. close of 2.356 percent.

In currency markets, the dollar was up less than 0.1 percent against the yen at 111.73, while the euro gained 0.27 percent on the day to buy $1.1280.

The dollar index, which tracks the greenback against a basket of six major rivals, was down 0.1 percent at 97.047.

U.S. crude ticked up 0.27 percent at $63.75 a barrel, while Brent crude was up 0.2 percent at $70.97 per barrel.

Gold was slightly higher, having fallen more than 1 percent on Thursday to break below the key $1,300 level following solid U.S. data. Spot gold was trading at $1,293.30 per ounce. [GOL/]

(Reporting by Andrew Galbraith; Editing by Sam Holmes)

Source: OANN

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Oil dips on well supplied markets despite tighter Iran sanctions

Pumpjacks are seen against the setting sun at the Daqing oil field in Heilongjiang
FILE PHOTO: Pumpjacks are seen against the setting sun at the Daqing oil field in Heilongjiang province, China December 7, 2018. Picture taken December 7, 2018. REUTERS/Stringer

April 24, 2019

By Henning Gloystein

SINGAPORE (Reuters) – Oil prices inched lower on Wednesday on signs that global markets remain adequately supplied despite a jump to 2019 highs this week on Washington’s push for tighter sanctions against Iran.

Brent crude futures were at $74.24 per barrel at 0058 GMT, down 27 cents, or 0.4 percent, from their last close.

U.S. West Texas Intermediate (WTI) crude futures were at $66.02 per barrel, down 28 cents, or 0.4 percent, from their previous settlement.

Crude futures rose to 2019 highs earlier in the week after the United States said on Monday it would end all exemptions for sanctions against Iran, demanding countries halt oil imports from Tehran from May or face punitive action from Washington.

U.S. sanctions against oil exporter Iran were introduced in November 2018, but Washington allowed its largest buyers limited imports of crude for another half-year as an adjustment period.

With Iranian oil exports likely declining sharply from May as most countries bow to U.S. pressure, global crude markets are expected to tighten in the short-run, Goldman Sachs and Barclays bank said this week.

Despite this, analysts said global oil markets remained adequately supplied thanks to ample spare capacity from the Middle East dominated Organization of the Petroleum Exporting Countries (OPEC), Russian and also the United States.

The International Energy Agency (IEA), a watchdog for oil consuming countries, said in a statement on Tuesday that markets are “adequately supplied” and that “global spare production capacity remains at comfortable levels.”

The biggest source of new oil supply comes from the United States, where crude oil production has already risen by more than 2 million barrels per day (bpd) since early 2018 to a record of more than 12 million bpd early this year, making America the world’s biggest oil producer ahead of Russia and Saudi Arabia.

“Total oil supplies from the United States are expected to grow by 1.6 million bpd this year,” the IEA said.

Commercial inventories in the United States are also high.

U.S. crude oil inventories rose by 6.9 million barrels in the week to April 19 to 459.6 million, data from industry group the American Petroleum Institute showed on Tuesday.

(GRAPHIC: U.S. crude oil production & exports link: https://tmsnrt.rs/2ULQiTd).

(Reporting by Henning Gloystein; editing by Richard Pullin)

Source: OANN

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

April 26, 2019

By Manoj Kumar and Nidhi Verma

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

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

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

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

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

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

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

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

A government spokesman declined to comment.

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

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

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

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

Only for them to surge after the vote.

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

‘CREDIT NEGATIVE’

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

($1 = 70.1800 Indian rupees)

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

Source: OANN

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

April 26, 2019

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

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

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

(Reporting by Joshua Franklin; editing by Patrick Graham)

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

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

DNA Force Plus

149.95

119.96

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

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

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

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

DNA Force Plus

149.95

119.96

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

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

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

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

DNA Force Plus

149.95

119.96

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

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

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

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

Source: InfoWars

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