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Bernie Sanders says 'no' to Americans who want to keep private insurance under 'Medicare-for-all'

2020 presidential candidate Bernie Sanders said Monday night that under his progressive “Medicare-for-all” proposal, Americans would not be able to keep existing health insurance coverage from private plans even if they wanted to do so.

The Vermont senator told a CNN town hall that health care should be a “human right” and that the U.S. “shamefully” was the only major country on Earth “not to guarantee health care to all people.” He argued that the only “cost-effective” way to give all Americans health insurance would be with a “Medicare-for-all single-payer program.”

CNN anchor Wolf Blitzer then pointed to statistics showing half of Americans get their health insurance through their employers and that a recent Gallup poll showed that 70 percent of those who get their insurance from their employers like it.

“Will these people be able to keep their health insurance plans, their private plans through their employers, if there’s a 'Medicare-for-all' program that you endorse?” Blitzer asked.

“No,” Sanders responded mid-question as he shook his head. “What will change in their plans is the color of their card. So, instead of having a Blue Cross/Blue Shield card, instead of having a United Health Insurance card, they're gonna have a Medicare card.”

The self-described Democratic socialist elaborated that under his plan, Americans could go to “any” doctor or hospital they wanted and wouldn’t have to pay “any private insurance premiums.” He also said seniors would get “expanded benefits” including dental care, hearing aids and eyeglasses.

2020 DEMS BEING URGED TO BACK PUSH TO PACK SUPREME COURT

“So, if they like their health insurance plan, they won’t be able to keep their health insurance plan?” Blitzer followed.

“Wolf, nobody- listen, the business of ‘liking’ your insurance plan, which by the way, employers change every single year,” Sanders continued, “people like their doctors, they like the hospitals, they like the care they’re getting.”

“But if they wanted additional private health insurance beyond 'Medicare-for-all,' would they be able to purchase that kind of health insurance?” the CNN anchor pressed the senator.

“If they want- our bill covers all health care needs. All,” Sanders stressed. “If people want cosmetic surgery, for example, yes, of course they can get private health insurance. But, our bill covers all comprehensive health care needs.”

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Last month, Sen. Kamala Harris, D-Calif., made plenty of headlines during another CNN town hall after the 2020 candidate called to “eliminate” private health insurance while pushing “Medicare-for-all.”

“Well, listen, the idea is that everyone gets access to medical care. And, you don't have to go through the process of going through an insurance company, having them give you approval, going through the paperwork, all of the delay that may require,” Harris told Jake Tapper. “Who among us has not had that situation, where you got to wait for approval, and the doctor says, 'Well I don't know if your insurance company is going to cover this.' Let's eliminate all of that. Let's move on.”

Source: Fox News Politics

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HRW urges New Zealand’s Ardern to discuss Muslims in China

A rights group is urging New Zealand Prime Minister Jacinda Ardern to raise concerns about reported Chinese government abuses of Muslims during her visit to Beijing.

Ardern's visit on Monday and Tuesday comes two weeks after a gunman killed 50 worshippers at two mosques in New Zealand. Human Rights Watch said Friday that Ardern "spoke forcefully in defense of Muslims' rights" after the attacks and should do so again in Beijing.

Hundreds of thousands of Chinese Muslims have been detained without charge in camps, where relatives and ex-inmates say they have been subjected to physical abuse and forced to renounce Islam.

Human Rights Watch said Ardern should publicly call on Chinese leaders to close the camps, end the abuses, and permit independent observers' access to the region.

Source: Fox News World

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Fears over U.S. ties limit Turkish lira gains after Fed decision

Turkish lira banknotes are seen in this picture illustration in Istanbul
Turkish lira banknotes are seen in this picture illustration in Istanbul, Turkey August 14, 2018. REUTERS/Murad Sezer/Illustration

March 21, 2019

ANKARA (Reuters) – Fears over renewed tensions with the United States reversed some of the Turkish lira’s overnight gains in early trade on Thursday following a dovish Fed decision that had boosted emerging market currencies late on Wednesday.

The United States could soon freeze preparations for delivering F-35 fighter jets to Turkey, officials told Reuters, in what would be the strongest signal yet by Washington that Ankara cannot have both the advanced aircraft and Russia’s S-400 air defences system.

The lira firmed to 5.4160 against the dollar in the wake of the Fed decision but eased back to 5.4415 after Reuters report, analysts said.

Amid a slowing economy the Fed now sees only one rate hike next year, and announced a plan to end its balance sheet reduction program by September.

“It’s a very positive decision for emerging market currencies including the lira, and we were able to observe its impact on the market, with lira gaining around 1 percent against the dollar,” an Istanbul-based forex trader said.

“However, the report that ties with the U.S. are seen entering a difficult period was the only factor that limited this rise.”

The United States is nearing an inflection point in a years-long standoff with Turkey, a NATO ally, after so far failing to sway President Tayyip Erdogan that buying the S-400 Russian air defense system would compromise the security of any F-35 aircraft delivered to Turkey.

While no decision has been made yet, U.S. officials confirmed that Washington was considering halting steps now underway to ready Turkey to receive the F-35, which is built by Lockheed Martin Corp.

(Reporting by Nevzat Devranoglu; Writing by Ece Toksabay; Editing by Dominic Evans)

Source: OANN

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Blast, gunfire as attackers enter Afghan communications ministry in central Kabul: officials

Men carry injured people outside the Ministry of Communication and Information Technology in Kabul
Men carry injured people outside the building of Ministry of Communication and Information Technology in Kabul, Afghanistan April 20, 2019. REUTERS/Mohammad Ismail

April 20, 2019

By Abdul Qadir Sediqi and Rupam Jain

KABUL (Reuters) – An explosion hit the center of the Afghan capital Kabul on Saturday and unidentified attackers appeared to have entered a multi-storey building housing the communications ministry where they were battling security forces, officials said.

Gunfire could be clearly heard by witnesses in the city center, but the area around the site was cordoned off by security forces.

Interior Ministry spokesman Nasrat Rahimi confirmed there had been gunfire around the ministry of communications and information technology but provided no further details.

The attack followed several months of relative calm in Kabul, which coincided with talks between U.S. and Taliban officials aimed at opening the way for formal peace negotiations to end more than 17 years of war in Afghanistan.

One security official, who declined to be identified by name, said the initial blast appeared to have been caused by a suicide bomb at the entry to the ministry. There was no confirmation from Afghan police, and no militant group has so far claimed responsibility for the attack.

A witness quoted by the Tolo News television channel said attackers appeared to be fighting security forces on the first floor of the ministry headquarters.

The explosion, in one of the main commercial areas of the city, was also close to the heavily fortified Serena Hotel, one of the very few Kabul hotels still used by foreign visitors.

The attack, just days after a planned meeting between Taliban officials and Afghan politicians and civil society representatives in Qatar was canceled, underlined the hurdles facing efforts to reach a peace settlement.

While heavy fighting has carried on across Afghanistan and Taliban militants have announced their now customary spring offensive, there had been no large-scale attacks on civilian targets in Kabul in recent weeks.

(Reporting by Abdul Qadir Sediqi, Rupam Jain, James Mackenzie; Editing by Nick Macfie and Kenneth Maxwell)

Source: OANN

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Louisiana man gets jail time for threatening President Trump

A Louisiana man has been sentenced to three years and 10 months in federal prison for making threats against President Donald Trump.

The U.S. attorney's office in Baton Rouge says 63-year-old Henry Rayborn, of Baton Rouge, was sentenced Wednesday.

A federal complaint filed in March 2018 says Rayborn made threats against the president while hospitalized in Baton Rouge. Rayborn had been taken there after police found him lying down in a public street.

Court records say Rayborn told an investigating U.S. Secret Service agent that he "heard voices in his head saying kill Trump." Rayborn was later found mentally competent to face the charges. He pleaded guilty in October to making a threat against the president.

After serving his prison sentence he will serve three years of supervised release.

Source: Fox News National

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Spain may issue green bonds to finance environmental plan, minister says

FILE PHOTO: Spain's Economy Minister Calvino speaks during a news conference after an extraordinary cabinet meeting at the Moncloa Palace in Madrid
FILE PHOTO: Spain's Economy Minister Nadia Calvino speaks during a news conference after an extraordinary cabinet meeting at the Moncloa Palace in Madrid, Spain, October 15, 2018. REUTERS/Susana Vera/File Photo

March 27, 2019

By Belén Carreño

MADRID (Reuters) – Spain is studying the issuance of so-called “green bonds” to help businesses fund reforms necessary under the government’s environmental plan, Economy Minister Nadia Calvino told Reuters in an interview on Wednesday.

“Spain has a very ambitious approach to tackling climate change and we wish to be at the very vanguard of the ecological and energy transition. This requires large investment volumes and we are studying the possibility of issuing green bonds, among other means,” Calvino said from her office in Madrid.

Spain’s state run Official Credit Institute (ICO) would oversee the bonds’ issuance, she said.

The Spanish Socialist government said in February that it had earmarked 47 billion euros ($53 billion) in public investment over the next 10 years as part of its effort to become carbon neutral by 2050.

“These bonds would fund investment in areas such as renewable energy and energy efficiency, or sustainable water and land management, all elements of our National Energy and Climate plan, currently subject to public consultation,” she said.

The state-backed bonds would help companies leverage private investment, Calvino said, though she did not say how much would be invested or which companies could opt into the plan.

The economy minister also said that the government has asked the European Stability Mechanism for permission to repay early another part of the country’s 2012 bank-bailout rescue. Spain received nearly 42 billion euros in rescue funds and has around 24 billion euros left to pay back.

Spain plans to issue 35 billion euros in debt in 2019, and Calvino says it will reduce this figure if the economic situation allows.

UPCOMING ELECTIONS

Prime Minister Pedro Sanchez called a general election for April 28 after his minority government failed to garner support for its 2019 budget. Calvino is the only one of his 17 ministers who does not plan to run for reelection.

She stressed her commitment to reducing Spain’s budget deficit and debt levels in coming years if Sanchez is elected to form a government. Reforms in education and training are the top economic policy priorities for the next government, she said.

Spain has the second highest unemployment rate in Europe, which stood at 14.5 percent at the end of 2018. It has struggled to pass labor market reforms that address high levels of seasonal unemployment and low-paid, temporary work.

(Writing by Paul Day; Editing by Axel Bugge and Peter Graff)

Source: OANN

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FILE PHOTO: Supporters of the Spain's far-right party VOX wave Spanish flags as they attend an electoral rally ahead of general elections in the Andalusian capital of Seville
FILE PHOTO: Supporters of the Spain’s far-right party VOX wave Spanish flags as they attend an electoral rally ahead of general elections in the Andalusian capital of Seville, Spain April 24, 2019. REUTERS/Marcelo del Pozo/File Photo

April 26, 2019

By John Stonestreet and Belén Carreño

MADRID (Reuters) – Spain’s Vox party, aligned to a broader far-right movement emerging across Europe, has become the focus of speculation about last minute shifts in voting intentions since official polling for Sunday’s national election ended four days ago.

No single party is anywhere near securing a majority, and chances of a deadlocked parliament and a second election are high.

Leaders of the five parties vying for a role in government get final chances to pitch for power at rallies on Friday evening, before a campaign characterized by appeals to voters’ hearts rather than wallets ends at midnight.

By tradition, the final day before a Spanish election is politics-free.

Two main prizes are still up for grabs in the home straight. One concerns which of the two rival left and right multi-party blocs gets more votes.

The other is whether Vox could challenge the mainstream conservative PP for leadership of the latter bloc, which media outlets with access to unofficial soundings taken since Monday suggest could be starting to happen.

The right’s loose three-party alliance is led by the PP, the traditional conservative party that has alternated in office with outgoing Prime Minister Pedro Sanchez’s Socialists since Spain’s return to democracy in the 1970s.

The PP stands at around 20 percent, with center-right Ciudadanos near 14 percent and Vox around 11 percent, according to a final poll of polls in daily El Pais published on Monday.

Since then, however, interest in Vox – which will become the first far-right party to sit in parliament since 1982 – has snowballed.

It was founded in 2013, part of a broader anti-establishment, far-right movement that has also spread across – among others – Italy, France and Germany.

While it is careful to distance itself from the ideology of late dictator Francisco Franco, Vox’s signature policies include repealing laws banning Franco-era symbols and on gender-based violence, and shifting power away from Spain’s regional governments.

TRENDING

According to a Google trends graphic, Vox has generated more than three times more search inquiries than any other Spanish political party in the past week.

Reasons could include a groundswell of vocal activist support at Vox rallies in Madrid and Valencia, and its exclusion from two televised debates between the main party leaders, on the grounds of it having no deputies yet in parliament.

Conservative daily La Vanguardia called its enforced absence from Monday’s and Tuesday’s debates “a gift from heaven”, while left-wing Eldiario.es suggested the PP was haemorrhaging votes to Vox in rural areas.

Ignacio Jurado, politics lecturer at the University of York, agreed the main source of additional Vox votes would be disaffected PP supporters, and called the debate ban – whose impact he said was unclear – wrong.

“This is a party polling over 10 percent and there are people interested in what it says. So we lose more than we win in not having them (in the debates),” he said

For Jose Fernandez-Albertos, political scientist at Spanish National Research Council CSIC, Vox is enjoying the novelty effect that propelled then new, left-wing arrival Podemos to 20 percent of the vote in 2015.

“While it’s unclear how to interpret the (Google) data, what we do know is that it’s better to be popular and to be a newcomer, and that Vox will benefit in some form,” he said.

For now, the chances of Vox taking a major role in government remain slim, however.

The El Pais survey put the Socialists on around 30 percent, making them the frontrunners and likely to form a leftist bloc with Podemos, back down at around 14 percent.

The unofficial soundings suggest little change in the two parties’ combined vote, or the total vote of the rightist bloc.

That makes it unlikely that either bloc will win a majority on Sunday, triggering horse-trading with smaller parties favoring Catalan independence – the single most polarizing issues during campaigning – that could easily collapse into fresh elections.

(Election graphic: https://tmsnrt.rs/2ENugtw)

(Reporting by John Stonestreet and Belen Carreno, Editing by William Maclean)

Source: OANN

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FILE PHOTO: The logo of the OPEC is seen at OPEC's headquarters in Vienna
FILE PHOTO: The logo of the Organisation of the Petroleum Exporting Countries at OPEC’s headquarters in Vienna, Austria December 5, 2018. REUTERS/Leonhard Foeger/File Photo

April 26, 2019

JOINT BASE ANDREWS, Md. (Reuters) – U.S. President Donald Trump said on Friday he called the Organization of the Petroleum Exporting Countries and told the cartel to lower oil prices.

“Gasoline prices are coming down. I called up OPEC, I said you’ve got to bring them down. You’ve got to bring them down,” Trump told reporters.

(Reporting by Roberta Rampton; Writing by Makini Brice; Editing by Chizu Nomiyama)

Source: OANN

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Sonia Bompastor, director of the Olympique Lyonnais womenÕs Youth Academy, leads a training at the OL Academy near Lyon
Sonia Bompastor, director of the Olympique Lyonnais womenÕs Youth Academy, leads a training at the OL Academy in Meyzieu near Lyon, France, April 16, 2019. REUTERS/Emmanuel Foudrot

April 26, 2019

By Julien Pretot

MEYZIEU, France (Reuters) – Olympique Lyonnais president Jean-Michel Aulas was wringing out his women’s team shirts in the locker room on a rainy London day eight years ago when he decided it was time to take gender equality more seriously.

It was halftime in their Champions League semi-final second leg against Arsenal at Meadow Park with 507 fans watching and Aulas realized that his players did not have a another kit for the second half.

“Next time, there will be a second set just like for the men, that’s how it’s going to work from now on,” he said.

Lyon have since won five Champions League titles to become the most successful women’s team in Europe and recently claimed a 13th consecutive domestic crown.

They visit Chelsea on Sunday in the second leg of their Champions League semi-final, with a fourth straight title in their sights.

At the heart of their achievements is a pervasive ethos that promotes gender equality throughout the club, starting in the youth academy.

In 2013, Aulas appointed former Lyon and France player Sonia Bompastor as head of the Women’s Academy — the female equivalent of one of France’s top youth set-ups that has produced players such as Karim Benzema, Alexandre Lacazette and Hatem Ben Arfa.

At the Youth Academy, girls and boys share the same facilities.

“Pitches, physiotherapy rooms are the same for all,” the 38-year-old Bompastor told Reuters.

As the girls train under the watch of former Lyon and France international Camille Abily, the screams of the boys practicing can be heard nearby.

The boys and girls also benefit from the same psychological support that includes hypnosis sessions and yoga.

“We have a ‘mental ability’ cell and the hypnotist acts on the girls’ subconscious, on their deeply held beliefs after observing them on and off the pitch,” Bompastor added.

SAME TREATMENT

One message the Academy staff are trying to convey is that girls are as good as boys.

“Women’s nature is such that we have low self-esteem. So self-esteem is a big topic for our girls,” said Bompastor.

This is not the case with the boys, she added.

“Some 14, 15-year-old boys still think they would beat our professional players, we tell them this would not be happening. We still need to work on those beliefs,” she said.

Female players also have to face questions that their male counterparts do not, Bompastor explained.

“In France there is a problem with the way women are considered, there are high aesthetic expectations. So we get heavy questions on femininity, intimate questions that men don’t get,” she said.

OL’s Academy has been held up as a shining example for others to follow, even in the U.S., where women’s soccer has a wider audience than in Europe.

“About one third of the (senior women’s) squad comes from the Academy, we have a good balance,” said Bompastor.

“I’m getting tons of requests from American universities and foreign clubs, who want to come and visit our facilities.”

‘ONE CLUB’

The salaries of the senior players is one area where there remains a large discrepancy between Lyon’s men’s and women’s teams.

While the three best-paid women players in the world are at Lyon with Ballon d’Or winner Ada Hegerberg earning 400,000 euros ($445,520) a year, this figure is dwarfed by the around 4 million euros earned annually by men’s player Memphis Depay.

There is, however, a level of interaction between the men’s and women’s players that is not present at many other clubs.

“When you talk about OL you talk about women and men, you talk about one club and you feel it when you are here or outside in the city,” Germany defender Carolin Simon told Reuters.

“We see it when we play in the big stadium. It’s not ‘normal’ for women’s football,” the 26-year-old, who joined the club last year, added.

Lyon’s female players also enjoy respect from their male counterparts, Simon said.

“It’s very cool, it’s a big honor to feel that it doesn’t matter if you are a professional man or woman. We talk with the men, there are handshakes, it’s a good atmosphere and it’s also why we are successful,” said Simon.

“The men respect us and it’s not just for the cameras.”

Her team mate, England’s Lucy Bronze, sees the men’s respect as key to improving women’s football.

“We might not be paid the same but they are just normal with us, they see us as footballers the same as they are,” Bronze told Reuters.

“Being at Lyon has really opened my eyes. To improve women’s football, it starts with having the respect of your male counterparts. It’s the biggest thing because they can influence so many people.”

(Reporting by Julien Pretot; Editing by Toby Davis)

Source: OANN

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FILE PHOTO: Ethiopian migrants, stranded in war-torn Yemen, sit on the ground of a detention site pending repatriation to their home country, in Aden, Yemen
FILE PHOTO: Ethiopian migrants, stranded in war-torn Yemen, sit on the ground of a detention site pending repatriation to their home country, in Aden, Yemen April 24, 2019. REUTERS/Fawaz Salman/File Photo

April 26, 2019

GENEVA (Reuters) – Yemeni authorities have rounded up about 3,000 irregular migrants, predominantly Ethiopians, in the south of the country, “creating an acute humanitarian situation,” the U.N. migration agency said on Friday.

“IOM is deeply concerned about the conditions in which the migrants are being held and is engaging with the authorities to ensure access to the detained migrants,” the International Organization for Migration said.

The migrants are held in open-air football stadiums and in a military camp, it said in a statement.

The detentions began on Sunday in the city of Aden and the neighboring province of Lahj, which are under the control of the internationally recognized government backed by Saudi Arabia and the United Arab Emirates. Iran-aligned Houthi rebels control Sanaa, the capital, and other major urban centers.

Both sides are under international diplomatic pressure to implement a United Nations-sponsored ceasefire deal agreed last year in Sweden and to prepare for a wider political dialogue that would end the four-year-old war.

Thousands of migrants arrive in Yemen every year, mostly from the Horn of Africa, driven by drought and unemployment at home and lured by the wages available in the Gulf.

(Writing by Maher Chmaytelli, Editing by William Maclean)

Source: OANN

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U.S. dollar notes are seen in this picture illustration
U.S. dollar notes are seen in this November 7, 2016 picture illustration. Picture taken November 7. REUTERS/Dado Ruvic/Illustration

April 26, 2019

(Reuters) – Following are five big themes likely to dominate thinking of investors and traders in the coming week and the Reuters stories related to them.

1/DOLLAR JUGGERNAUT

The dollar has zipped to near two-year highs, leaving many scratching their heads. To many, it’s down to signs the U.S. economy is chugging ahead while the rest of the world loses steam. After all, Wall Street is busily scaling new peaks day after day.

Never mind the cause, the effect is stark. The euro has tumbled to 22-month lows against the dollar and investors are preparing for more, buying options to shield against further downside. Emerging-market currencies are also in pain, with Turkish lira and Argentine peso both sharply weaker.

Now U.S. data need to keep surprising on the upside or even just meet expectations. The International Monetary Fund sees U.S. growth at 2.3 percent this year. For Germany, the forecast is 0.8 percent. The U.S. economy’s rude health has given rise to speculation the Fed might resume raising interest rates. Unlikely. But as other countries — Canada, Sweden and Australia are the latest — hint at more policy easing, there seems to be one way the dollar can go. Up.

(GRAPHIC: Dollar outperforms G10 FX – https://tmsnrt.rs/2Dz17S5)

2/FED: UP OR DOWN?

Wall Street is near record highs and recession worries are receding, so as we mentioned above, investors might wonder if the Federal Reserve will start raising rates again.

Such a pivot is unlikely after the Fed killed off rate-rise expectations at its March meeting. And the latest Reuters poll all but puts to bed any risk of rates will go up this economic cycle, given inflation remains below the Fed’s alarm threshold and unemployment is the lowest in generations.

Before the March rate-pause announcement, a preponderance of economists penciled in one or more increases this year. But that has flipped. A majority of those surveyed April 22-24 see no further tightening through December and more are leaning toward a cut by the end of next year.

Indeed, interest rate futures imply Fed Funds will be below the current 2.25-2.50 percent target range by this December.

Recent positive consumer spending and exports data have eased market concerns of a sharp economic slowdown. But inflation probably needs to run hot for a long period to panic policymakers off their wait-and-see course.     

(GRAPHIC: Federal funds and the economy – https://tmsnrt.rs/2DzjTZz)

3/HEISEI TO REIWA

Next week ends three decades of Japan’s Heisei era. Heisei, or Achieving Peace, began in 1989 near the peak of a massive stock market bubble and closes with the country trapped in low growth, no inflation, and negative interest rates.

The new era that dawns on May 1 is called Reiwa, meaning Beautiful Harmony. It begins when Crown Prince Naruhito ascends the Chrysanthemum Throne. But do investors really want harmony? What they want to see is a bit of economic growth and inflation to shake up the status quo.

The Bank of Japan’s stimulus toolkit to revive a long-suffering economy is anything but harmonious and yet it’s set to stay. The central bank confirmed recently rates will stay near zero for a long time. But the coming days may not be harmonious or peaceful for currency markets. A 10-day Golden Week holiday kicks off on April 29 and investors are fretting over the risk of a “flash crash” – a violent currency spasm that can occur in times of thin trading turnover.

The year has already seen two yen spikes and many, including Japan’s housewife-trader brigade – so-called Mrs Watanabes – appear to have bought yen as the holiday approaches. Their short dollar/long yen positions recently reached record highs, stock exchange data showed.

(GRAPHIC: Japan stocks: from Hensei to Reiwa – https://tmsnrt.rs/2W6a7Fe)

4/EARNING TURNING

Quarterly earnings were supposed to be the worst in Europe in almost three years, but with a third of results in, things are looking a little rosier.

Two-thirds of companies’ results have beat expectations, and they point to earnings growth of 4.5 percent year-on-year. Financials have delivered the biggest surprises, according to analysis by Barclays.

That might just show how low expectations were. In fact, analysts are still taking a red pen to their estimates.

The latest I/B/E/S data from Refinitiv shows analysts on average expect first-quarter earnings-per-share for STOXX 600-listed companies to fall 4.2 percent. That would be their worst quarter since 2016 and down sharply from an estimated 3.4 percent just a week earlier.

Those estimates may end up being a little too bearish as earnings season goes on, quelling worries that Europe is heading toward a corporate recession.

GSK and Reckitt Benckiser will give the market a glimpse of the health of the consumer products market and spending on everything from toothpaste, washing powder and paracetamol.

(GRAPHIC: Earnings forecasts – https://tmsnrt.rs/2DuO2ZF)

5/WAITING FOR THE OLD LADY

Sterling has gone into the doldrums amid the Brexit delay and unproductive talks between the UK government and the opposition Labour party on a EU withdrawal deal. The resurgent dollar, meanwhile, has taken 2 percent off the pound in April. It is unlikely the Bank of England will be able to rouse it at its May 2 meeting.

Despite robust retail and jobs data of late, the economic picture is gloomy – 2019 growth is likely to be around 1.2 percent, the weakest since 2009, investment is down and Governor Mark Carney says business uncertainty is “through the roof”.

Indeed, expectations for an interest rate increase have been whittled down; Reuters polls forecast rates will not move until early 2020, a calendar quarter later than was forecast a month ago. The hunt for a new governor to replace Carney in October adds more uncertainty to the mix.

The recent run of UK data has fueled hopes of economic rebound. That’s put net hedge fund positions in the pound into positive territory for the first time in nearly a year. The Old Lady of Threadneedle Street might temper some of that optimism.

(GRAPHIC: Sterling positions – https://tmsnrt.rs/2XJwUXX)

(Reporting by Alden Bentley in New York, Vidya Ranganathan in Singapore; Karin Strohecker, Josephine Mason and Saikat Chatterjee in London; compiled by Sujata Rao; edited by Larry King)

Source: OANN

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