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Marriott to open 1,700 hotels, return $11 billion to shareholders by 2021

Signage for the New York Marriott Marquis is seen in Manhattan, New York
FILE PHOTO: Signage for the New York Marriott Marquis is seen in Manhattan, New York, November 16, 2015. REUTERS/Andrew Kelly

March 18, 2019

(Reuters) – Hotel chain Marriott International Inc on Monday mapped out a three-year plan to open more than 1,700 hotels around the world, return up to $11 billion to shareholders and make a full-year profit of as much as $8.50 per share by 2021.

Marriott, which owns the Ritz-Carlton and St. Regis luxury hotel brands, said it would add between 275,000 and 295,000 rooms over three years, potentially adding $400 million in fee revenue in 2021 and $700 million annually when stabilized.

The company also forecast a profit of $7.65 to $8.50 per share by 2021, the mid point of which was above $7.72 estimated by analysts, according to Refinitiv data.

During the three-year period, the company plans to pay $1.9 billion to $2 billion in dividends and buy back $7.6 billion to $9 billion in shares, Marriott said.

The company, which plans to hold an investor conference on Monday, expects comparable hotel revenue per available room (RevPAR) growth – a key measure of hotel health – between 1 and 3 percent on an annual basis for the three-year period.

Last month, Marriott missed Wall Street estimates for fourth-quarter revenue and forecast a lower-than-expected full-year profit, blaming weak demand in North America, its largest market.

The company was hit by a massive data breach involving up to 383 million guests in its Starwood hotels reservation system and Chief Executive Officer Arne Sorenson earlier this month apologized before a U.S. Senate panel and vowed to protect against future attacks.

(Reporting by Sanjana Shivdas in Bengaluru; Editing by Shounak Dasgupta and Anil D’Silva)

Source: OANN

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European stocks advance on U.S.-China trade optimism, H&M boost

The German share price index, DAX board, is seen at the stock exchange in Frankfurt
The German share price index, DAX board, is seen at the stock exchange in Frankfurt, Germany, October 9, 2017. REUTERS/Staff/Remote

March 29, 2019

By Medha Singh and Agamoni Ghosh

(Reuters) – European shares rose on Friday and headed for their best quarterly performance in four years, helped by encouraging signals from U.S.-China trade talks and a surge for the world’s second-biggest apparel retailer, H&M.

The pan-European STOXX 600 index gained 0.3 percent by 1010 GMT. All major European indexes rose, with France’s CAC outperforming with a 0.5 percent gain and Germany’s trade-sensitive DAX was up 0.3 percent.

Swedish-based H&M was among the shares gaining the most, rising 12.2 percent. The retailer reported its first-quarter pre-tax profit fell less than expected as it sold more products at full price and improved its margins.

H&M shares helped push up the retail index , which has risen nearly 20 percent this quarter.

The European labor market is robust, and the gains in personal income are boosting retail sales, said Bert Colijn an economist at ING.

Stocks also got a boost from reports that U.S. Treasury Secretary Steven Mnuchin said he had a “productive working dinner” in Beijing as U.S.-China trade talks ended.

“Anything that’s moving in the pro-trade directions is going to have a positive impact on European macros,” Colijn said.

Shares in Galapagos surged nearly 15.2 percent after the Belgian drugmaker said it had seen positive results from several trials of a rheumatoid arthritis drug.

One of the continent’s biggest travel firms, Tui AG, fell nearly 9 percent after it said it would take a 200 million-euro ($225 million) hit to profit in 2019 from the grounding of Boeing’s 737 MAX aircrafts.

Nordea Bank and Swedbank shed more than 10 percent each. Both went stocks ex-dividend on Friday, and New York’s financial regulator reportedly has sent letters to the banks asking for details money-laundering investigation.

Deutsche Telekom fell more than 4 percent, dragging the telecom index lower. Credit Suisse downgraded its stock to “neutral” from “outperform”.

Britain’s exporter-heavy FTSE 100 was up 0.4 percent and Dublin’s ISEQ, which typically moves on Brexit- related news, gained 0.1 percent.

Britain’s parliament will hold a special sitting on Friday to discuss and vote on Prime Minister Theresa May’s proposed agreement for withdrawing from the European Union.

Goldman Sachs said if May’s agreement was rejected, chances would increase for a long extension and a Brexit renegotiation based on new, softer, options. The likelihood of a snap election would also increase, it said.

“A rejection would bring us in unchartered territory again, as the pressure will be high to get the deal through the British Parliament before 12 April and an extension beyond this date becomes uncertain,” Alexandra Dumitru, an economist at Rabobank, wrote in a note.

(Reporting by Medha Singh and Agamoni Ghosh in Bengaluru; editing by Larry King)

Source: OANN

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India’s central bank will issue fresh circular on bad debt resolution: governor

The Reserve Bank of India Governor Shaktikanta Das arrives to attend a news conference after a monetary policy review in Mumbai
The Reserve Bank of India (RBI) Governor Shaktikanta Das arrives to attend a news conference after a monetary policy review in Mumbai, India, April 4, 2019. REUTERS/Francis Mascarenhas

April 4, 2019

MUMBAI (Reuters) – India’s central bank said on Thursday it would issue a revised circular on the resolution of stressed assets after the Supreme Court this week struck down its earlier directive that imposed tougher norms on banks dealing with non-performing loans.

The Supreme Court had said on Tuesday that the Reserve Bank of India (RBI) had acted beyond its authority when it asked banks to drag a defaulter to an insolvency process if they are not able to find a resolution to a company’s debt within six months.

“The RBI’s powers are not under doubt,” Governor Shaktikanta Das said in Mumbai, while speaking to the press after announcing a cut in the RBI’s benchmark interest rate.

The “RBI will take necessary steps including issuance of a revised circular as may be necessary for expeditious and effective resolution of stressed assets,” he said, adding the RBI stands committed to maintaining and enhancing the momentum on the resolution of stressed assets and an adherence to credit discipline.

(Reporting by Promit Mukherjee; Editing by Euan Rocha)

Source: OANN

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Argentina 2019 inflation forecast jumps to 36 percent: central bank poll

FILE PHOTO: Employees work at industrial manufacturing company Gottert in Garin
FILE PHOTO: Employees work at industrial manufacturing company Gottert in Garin, on the outskirts of Buenos Aires, Argentina November 1, 2018. REUTERS/Marcos Brindicci

April 3, 2019

BUENOS AIRES (Reuters) – Economists have raised their forecast for Argentina’s 2019 inflation rate to 36 percent from a previous estimate of 31.9 percent, according to the median forecast in the central bank’s monthly poll of analysts released on Wednesday.

The median forecast for Argentina’s expected 2019 economic contraction was 1.2 percent compared with a previous estimate of 1.3 percent, according to the survey of 55 economists.

Economic turmoil in Argentina has left nearly a third of the country in poverty, pushed interest rates skyward and sent the peso tumbling in value against the dollar.

Inflation increased nearly 50 percent in 2018, driven by a run on the local peso currency.

President Mauricio Macri, who is running for reelection this year, must now balance the mounting hardships faced by Argentines with the need to enforce austerity as part of a $56.3 billion financing deal struck with the International Monetary Fund last year.

(Reporting by Eliana Raszewski, writing by Dave Sherwood; editing by Diane Craft)

Source: OANN

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Iran Foreign Minister Javad Zarif resigns

Iran Minister of Foreign Affairs Javad Zarif, one of the top officials involved in the rogue nation's controversial 2015 nuclear deal, announced his resignation Monday after five-and-a-half years in the position.

The state-run IRNA news agency confirmed that Zarif had announced his resignation on his Instagram page. The 59-year-old wrote that he was "very grateful to the gracious love of the dear and brave people of Iran for the last 67 months" and apologized for "the incapacity to continue serving and all the shortcomings during the service."

The post did not specify why Zarif was stepping down.

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Zarif, who was named foreign minister in August 2013, was the driving force behind Iran's 2015 nuclear deal with six world powers, including the United States. That deal is now on the verge of collapse after President Donald Trump withdrew America from the accord last year.

Zarif was born in Iran, but came to the United States in the late-1970s for secondary school. He received a bachelor's degree and a master's degree from San Francisco State University and a second master's degree and a Ph.D. from the University of Denver.

This is a developing story, check back for more updates.

The Associated Press contributed to this report.

Source: Fox News World

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Police search for suspect after officer shot at traffic stop

Louisiana State Police say they're searching for a man suspected of shooting an Abbeville police officer.

Authorities say the female officer was shot after a traffic stop Wednesday night. Abbeville Mayor Mark Piazza tells local media that she was flown to a hospital and was in stable condition.

State police spokesman Thomas Gossen told reporters that the suspect is considered armed and dangerous. He says anyone with information on his whereabouts should call 911.

Abbeville is about 20 miles (32 kilometers) south of Lafayette.

Source: Fox News National

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2 Marine pilots killed in helicopter crash in Arizona ID’d

The names of two Marine pilots who died in a helicopter crash during a training mission in southwestern Arizona were released Monday as the crash remained under investigation.

U.S. Marine Corps officials identified the dead pilots as Maj. Matthew M. Wiegand, 34, of Ambler, Pennsylvania, and Capt. Travis W. Brannon, 30, of Nashville, Tennessee.

They said the AH-1Z Viper crashed about 8:45 p.m. Saturday on the vast Marine Corps Air Station Yuma training grounds while the pilots were conducting a training mission as part of a weapons and tactical instructor course.

Officials said Wiegand held qualifications in the AH-1Z Viper and AH-1W Super Cobra and Brannon was attending the semi-annual weapons and tactics instructor course hosted by the Yuma base.

"It is a somber day for the entire Marine Air Ground Task Force Training Command as we mourn this tremendous loss," Brig. Gen. Roger B. Turner Jr., a commanding general at the base in Twentynine Palms, California.

Arizona Gov. Doug Ducey ordered flags to be lowered to half-staff Tuesday.

Wiegand, who joined the Marines in 2008, was assigned to the Marine Aviation Weapons and Tactics Squadron One in Yuma. His previous duty stations included the Naval Air Station in Pensacola, Florida; the Marine Corps Base Camp in Pendleton, California, and the Marine Corps Air Station in Yuma.

Marine officials said Wiegand previously deployed in support of a Unit Deployment Program in Okinawa, Japan, and his personal decorations included the Navy and Marine Corps Achievement Medal with a gold star.

Brannon was assigned to the Marine Light Attack Helicopter Squadron 367, Marine Aircraft Group 24, 1st Marine Aircraft Wing, in Kaneohe Bay, Hawaii.

His previous duty stations included the Naval Air Station in Pensacola, the Marine Corps Base Camp in Pendleton, and the Marine Corps Air Station in Kaneohe Bay.

Brannon also participated in Marine Rotational Force Darwin in Northern Territory, Australia, and his personal decorations included the Global War on Terrorism Service Medal and Sea Service Deployment Ribbon.

Source: Fox News National

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FILE PHOTO: Small toy figures are seen in front of a displayed Huawei and 5G network logo in this illustration picture
FILE PHOTO: Small toy figures are seen in front of a displayed Huawei and 5G network logo in this illustration picture, March 30, 2019. REUTERS/Dado Ruvic

April 26, 2019

By Charlotte Greenfield

WELLINGTON (Reuters) – China’s Huawei Technologies said Britain’s decision to allow the firm a restricted role in building parts of its next-generation telecoms network was the kind of solution it was hoping for in New Zealand, where it has been blocked from 5G plans.

Britain will ban Huawei from all core parts of 5G network but give it some access to non-core parts, sources have told Reuters, as it seeks a middle way in a bitter U.S.-China dispute stemming from American allegations that Huawei’s equipment could be used by Beijing for espionage.

Washington has also urged its allies to ban Huawei from building 5G networks, even as the Chinese company, the world’s top producer of telecoms equipment, has repeatedly said the spying concerns are unfounded.

In New Zealand, a member of the Five Eyes intelligence sharing network that includes the United States, the Government Communications Security Bureau (GCSB) in November turned down an initial request from local telecommunication firm Spark to include Huawei equipment in its 5G network, but later gave the operator options to mitigate national security concerns.

“The proposed solution in the UK to restrict Huawei from bidding for the core is exactly the type of solution we have been looking at in New Zealand,” Andrew Bowater, deputy CEO of Huawei’s New Zealand arm, said in an emailed statement.

Spark said it has noted the developments in Britain and would raise it with the GCSB.

The reports “suggest the UK is following other European jurisdictions in taking a considered and balanced approach to managing supplier-related security risks in 5G”, Andrew Pirie, Spark’s corporate relations lead, said in an email.

“Our discussions with the GCSB are ongoing and we expect that the UK developments will be a further item of discussion between us,” Pirie added.

New Zealand’s minister for intelligence services, Andrew Little, did not immediately respond to a request for comment.

British culture minister Jeremy Wright said on Thursday that he would report to parliament the conclusions of a government review of the 5G supply chain once they had been taken.

He added that the disclosure of confidential discussions on the role of Huawei was “unacceptable” and that he could not rule out a criminal investigation into the leak.

The decisions by Britain and Germany to use Huawei gear in non-core parts of 5G network makes it harder to prove Huawei should be kept out of New Zealand telecommunication networks, said Syed Faraz Hasan, an expert in communication engineering and networks at New Zealand’s Massey University

He pointed out Huawei gear was already part of the non-core 4G networks that 5G infrastructure would be built on.

“Unless there is a convincing argument against the Huawei devices … it is difficult to keep them away,” Hasan said.

(Reporting by Charlotte Greenfield; Editing by Himani Sarkar)

Source: OANN

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FILE PHOTO: The logo commodities trader Glencore is pictured in Baar
FILE PHOTO: The logo of commodities trader Glencore is pictured in front of the company’s headquarters in Baar, Switzerland, July 18, 2017. REUTERS/Arnd Wiegmann

April 26, 2019

(Reuters) – Glencore shares plunged the most in nearly four months on Friday after news overnight that U.S. regulators were investigating whether the miner broke some rules through “corrupt practices”.

Shares of the FTSE 100 company fell as much as 4.2 percent in early deals, and were down 3.5 percent at 310.25 pence by 0728 GMT.

On Thursday, Glencore said the U.S. Commodity Futures Trading Commission is investigating whether the company and its units have violated some provisions of the Commodity ExchangeAct and/or CFTC Regulations.

(Reporting by Muvija M in Bengaluru)

Source: OANN

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Well, Joe Biden didn’t exactly clear the field.

I don’t think it matters much that Biden waited until yesterday to become the 20th Democrat vying for the nomination, even though it exposed him to weeks of attacks while he seemed to be dithering on the sidelines.

A much greater warning sign, in my view, is the largely negative tone surrounding his debut. He is, after all, a former vice president, highly praised by Barack Obama, who has consistently led in the early primary polls, and beating President Trump in head-to-head matchups. Yet much of the press is acting like he’s an old codger and it’s just a matter of time before he keels over politically.

This is all the more remarkable in light of the fact that the vast majority of journalists and pundits know and like Joe Biden and his gregarious personality.

The reason is that Biden, after a half-century in politics, lacks excitement, and the press is magnetically attracted to novel and unorthodox types like Beto and Mayor Pete. You don’t see Biden on the cover of Vanity Fair, and a grind-it-out win by a conventional warrior doesn’t set journalistic hearts racing.

JOE BIDEN ANNOUNCES 2020 PRESIDENTIAL BID: 3 THINGS TO KNOW ABOUT THE FORMER VICE PRESIDENT

For many in the media, Biden isn’t liberal enough, at least not for the post-Obama era. He doesn’t promise free college and free health care and has a history of working with Republicans, such as John McCain (whose daughter Meghan loves him, and Biden will hit “The View” today.)

What’s more, Biden’s campaign style — speak at rallies, rack up union endorsements — seems hopelessly old-fashioned when we measure popularity by Instagram followers. News outlets are predicting he’ll have trouble getting in the online fundraising game, leaving him reliant on big donors, which used to be standard practice.

And then there’s the age thing. Biden would be the oldest president to be inaugurated, at 78, and he looked a step slow in encounters with reporters yesterday and a few weeks ago.

But what if the journalists are in something of a Twitter bubble, and the actual Democratic Party is much more moderate? We saw that with the spate of allegations by women of unwanted touching, which dominated news coverage until polls showed that most Dem voters weren’t concerned. In that wider world, the Scranton guy’s connection to white, working-class voters could help him against Trump in the industrial Midwest.

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Biden denounced the president’s term as an “aberrant moment” in his launch video, saying four more years would damage the country’s character and “I cannot stand by and watch that happen.”

But first, he’d have to win the nomination in the face of an unenthusiastic press corps.

A New York Times news story said Biden would be “marshaling his experience and global stature in a bid to lead a party increasingly defined by a younger generation that might be skeptical of his age and ideological moderation.”

The Washington Post quoted Democratic strategists as saying that Biden faces an “uphill battle” and “isn’t necessarily the heir apparent to Obama, despite being his No. 2 in the White House for eight years. They argue voters will judge Biden by the span of his decades-long career and are worried the veteran pol hasn’t yet found a winning formula for his own candidacy.”

The liberal Slate said the ex-veep’s rivals view him as a “paper tiger”:

“Biden is something more like a 2016 Jeb Bush: a weak establishment favorite whose time might be past … Biden’s biggest challenge in the primary will be a compromised past spanning nearly 50 years.”

“Compromised” suggests a history of scandal, yet what Slate means is political baggage, such as his backing of a Clinton-era crime bill unpopular with black voters today. Yet I think the rank and file isn’t as concerned about a vote back in 1994, or even the Anita Hill hearings, as the chattering classes.

BIDEN’S SENATE RECORD, ADVOCACY OF 1994 CRIME BILL WILL BE USED AGAINST HIM, EX-SANDERS STAFFER SAYS

One of the few left-leaning pundits to suggest the press is underestimating Biden is data guru Nate Silver at 538:

“Media coverage could nonetheless be a problem for Biden. Within the mainstream media, the story of Biden winning the nomination will be seen as boring and anticlimactic. That tends not to lead to favorable coverage. Meanwhile, some left-aligned media outlets may prefer candidates who are some combination of more leftist, more wonkish, more reflective of the party’s diversity, and more adept on social media.

“If Biden is framed as being out of touch with today’s Democratic Party and that narrative is repeated across a variety of outlets, it could begin to resonate with voters who don’t buy it initially. If he’s seen as a gaffe-prone candidate, then minor missteps on the campaign trail could be blown up into big fumbles.”

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Look, it’s entirely possible that Biden could stumble, get lapped in fundraising and just be outclassed by younger and savvier rivals. He was hardly a great candidate in 1987 and in 2008.

But if the former vice president finds his footing and the field narrows, the press will be forced to change its tune, and we’ll see a spate of stories about how Joe Biden has “grown.”

Source: Fox News Politics

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South Africa's 400m Olympic gold medallist and world record holder Wayde van Niekerk looks on as he attends South African Championships in Germiston
South Africa’s 400m Olympic gold medallist and world record holder Wayde van Niekerk looks on as he attends South African Championships in Germiston, South Africa, April 25, 2019. REUTERS/Siphiwe Sibeko

April 26, 2019

GERMISTON, South Africa (Reuters) – Olympic 400 meters champion Wayde van Niekerk has backed South African compatriot Caster Semenya in her battle with the International Association of Athletics Federations (IAAF), which now appears to have taken a new twist.

Semenya, a double 800 meters Olympic gold medalist, is waiting for the outcome of her appeal to the Court of Arbitration for Sport (CAS) to halt the introduction of new regulations by governing body IAAF that would require her to take medicine to limit her natural levels of testosterone.

The IAAF wants female athletes with differences of sexual development who run in events from 400 meters to a mile, to reduce their blood testosterone level to below five (5) nmol/L for a period of six months before they can compete, saying they have an unfair advantage.

“She’s fighting for something beyond just track and field, she’s fighting for woman in sports, in society and I respect her for that,” Van Niekerk told reporters.

“I will support her and with the hard work and talent that she’s been putting into the sport. With what she believes in and what she’s dreaming for, I’ve got a lot of respect for her.

“I really hope and pray that everything just goes from strength to strength for her.”

Semenya has sprung a surprise at the on-going South African Athletics Championships though, ditching the 800 meters and instead competing over 1,500 and 5,000-metres – the latter one would not require her to medically lower her testosterone level.

She stormed to victory in the 5,000-metres final in a modest time of 16:05.97, but looked to have lots left in the tank as she passed the finish line.

Semenya beat fellow Olympian and defending national 5,000m champion Dominique Scott in Thursday’s final but the latter admitted she is unsure whether the 800m specialist could be a serious Olympic contender over the longer distance.

“Honestly‚ I have no idea‚” Scott said. “Before today I probably would have said no. It’s hard to compare a 5,000 at altitude to a 5,000 at sea level.

“But I think she’s an amazing runner and I don’t think there’s any limit or ceiling on what she can do.”

Van Niekerk, the 400m world record holder, had to abort his comeback from a knee injury, that had sidelined him for 18 months, following a combination of cold weather and a wet track.

“We are trying to take the correct decisions now early in the year so as not to put myself in any harm,” he said.

“It was a bit chilly this entire week prepping and coming through here as well it was quite cold and it caused bit of tightness in my leg. We decided to not risk it.

“My recovery is going well and I would like to be back in competition this year, but will only do so if I can deliver a good performance.

“I am a competitor and respect my opponents, so I need to be at my best when I return.”

(Reporting by Nick Said, additional reporting by Siyabonga Sishi; editing by Sudipto Ganguly)

Source: OANN

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The suspected leader of the Easter Sunday bombings in Sri Lanka died in the Shangri-La hotel, one of six hotels and churches targeted in the attacks that killed at least 250 people, authorities said.

Police said Mohamed Zahran, leader of the National Towheed Jamaat militant group, had been killed in one of the bombings. The group’s second in command was also arrested, police said.

Zahran amassed an online following for his hate-filled sermons. Some were delivered before a banner depicting the Twin Towers.

Sri Lankan authorities said Friday that Islamic cleric Mohammed Zahran died in the blast at the Shangri-La hotel during the Easter Sunday atatcks that killed at least 250 people. 

Sri Lankan authorities said Friday that Islamic cleric Mohammed Zahran died in the blast at the Shangri-La hotel during the Easter Sunday atatcks that killed at least 250 people.  (YouTube)

Australian Prime Minister Scott Morrison said Friday that the attackers responsible for the bombings were supported by the Islamic State group. Around 140 people in Sri Lanka had connections to ISIS, Sri Lankan President Maithripala Sirisena said.

“We will completely control this and create a free and peaceful environment for people to live,” he said.

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Investigators determined the attackers received military training from someone called “Army Mohideen.” They also received weapons training overseas and at some locations in Sri Lanka, according to authorities.

A copper factory operator arrested in connection with the bombings helped Mohideen make improvised explosive devices, police said. The bombings have led to increased security throughout the island nation as authorities warned of another attack.

Source: Fox News World

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