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UK’s Hammond misses his budget target, even as deficit falls to 17-year low

FILE PHOTO: Chancellor of the Exchequer Philip Hammond attends the IMF and World Bank's 2019 Annual Spring Meetings, in Washington
FILE PHOTO: Chancellor of the Exchequer Philip Hammond attends the IMF and World Bank's 2019 Annual Spring Meetings, in Washington, April 13, 2019. REUTERS/James Lawler Duggan

April 24, 2019

LONDON (Reuters) – Britain’s finance minister Philip Hammond missed his target for bringing down the country’s budget deficit in the 2018/19 financial year, data showed on Wednesday.

Borrowing in the 12 months to the end of March totaled 24.7 billion pounds, 41 percent less than in the 2017/18 tax year but higher than the forecast of 22.8 billion pounds made by Britain’s independent budget office last month.

The numbers were provisional and could be revised. The shortfall was smaller than the Office for Budget Responsibility’s previous forecast of 25.5 billion pounds.

As a share of economic output, the deficit fell to its lowest in 17 years at 1.2 percent, down from nearly 10 percent during the depths of the global banking crisis a decade ago, the Office for National Statistics said.

In March alone, Britain ran a budget deficit of 1.7 billion pounds, above all forecasts in a Reuters poll of economists that had pointed to borrowing of 400 million pounds.

The figures showed tax receipts continued to grow strongly in March, but higher government spending accounted for the wider-than-expected deficit, mostly down to purchases of goods and services.

Hammond has held out the prospect of billions of pounds of extra public spending or tax cuts if parliament approves the Brexit deal agreed by Prime Minister Theresa May with other European Union leaders.

But lawmakers within the Conservative Party of May and Hammond remain divided on the deal, leading to the EU extending the Brexit deadline until the end of October.

Hammond has said he could also use his “fiscal headroom” to help the economy weather a no-deal Brexit shock.

(Reporting by William Schomberg and Andy Bruce)

Source: OANN

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White House: Next Steps in Mueller Report Up to AG Barr

The White House has made its first comment regarding special counsel Robert Mueller's final report, saying it has not been briefed on the contents.

"The next steps are up to Attorney General Barr, and we look forward to the process taking its course," White House press secretary Sarah Sanders said on Twitter. "The White House has not received or been briefed on the Special Counsel's report."

Mueller delivered his final report on the Russia probe to Barr late Friday afternoon. According to reports, the White House was informed of the news around 4:45 p.m. ET.

It's not yet clear what the report says, but Barr wrote to Congressional leaders that he might be able to brief them on the findings as soon as this weekend.

The probe began in May 2017 over claims that the Trump campaign colluded with the Russians to win the 2016 election.

Source: NewsMax Politics

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Virginia Tech hires Young from Wofford

FILE PHOTO: NCAA Basketball: NCAA Tournament-Second Round-Wofford vs Kentucky
FILE PHOTO: Mar 23, 2019; Jacksonville, FL, USA; Wofford Terriers head coach Mike Young instructs his team during the second half in the second round of the 2019 NCAA Tournament at Jacksonville Veterans Memorial Arena. Matt Stamey-USA TODAY Sports/File Photo

April 8, 2019

Wofford coach Mike Young, who took the Terriers to five NCAA Tournament appearances, has accepted the head coaching position at Virginia Tech, the school announced Sunday.

Young compiled a 299-244 mark in 17 seasons as the head coach at Wofford, which went 30-5 this season and advanced to the second round of the NCAA Tournament. The seventh-seeded Terriers defeated Seton Hall in the first round before losing to No. 2 Kentucky.

Young replaces Buzz Williams, who left last week to coach Texas A&M. The Hokies advanced to the Sweet 16 this season before falling 75-73 to No. 1 seed Duke.

“We are fortunate to have been able to recruit Mike Young to Virginia Tech, not only because of his proven leadership and coaching ability, but because Coach Young is home in Southwest Virginia and leads his life in the true Hokie tradition of integrity and commitment to service,” Virginia Tech president Tim Sands said in a statement.

Young, a native Virginian, has been on the basketball staff at Wofford — located in Spartanburg, S.C. — for 30 years.

Wofford finished this season with an 18-0 Southern Conference record. Young was the Sporting News Coach of the Year, while he finished third in AP Coach of the Year voting behind Texas Tech’s Chris Beard and Houston’s Kelvin Sampson.

The Terriers won the Southern Conference tournament five times in the past 10 seasons and captured the conference’s regular-season title in four of those five years.

This season topped the others, as the Terriers broke into the AP Top 25 for the first time in school history. The NCAA Tournament victory was also a first for the school after four losses, dating to 2010.

The Terriers’ only regular-season losses were to then-No. 8 North Carolina to start the season, Oklahoma, then-No. 2 Kansas and then-No. 17 Mississippi State.

–Field Level Media

Source: OANN

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Pharmaceutical Roche latest to add to Brazil's economic woes

Swiss pharmaceutical company Roche said Tuesday it will stop producing medicines at its Rio de Janeiro unit in Brazil, a new blow to a country whose economy appears to be in its most sluggish decade in 120 years.

Roche said the move will take place within the next five years because that factory is not financially sustainable.

Several big businesses have shown concerns about the future of the once booming Brazilian economy. The South American nation has hit strong headwinds since 2014, with few encouraging signs of a recovery since new President Jair Bolsonaro took office on Jan. 1.

Roche said its layoffs in Rio will only begin next year. Its medicines in the South American country will be imported once the manufacturing unit is shut down and the company will keep its administrative units in Sao Paulo and Goias states.

The company employs 1,200 people in Brazil, including 440 at the Rio factory. The unit produces drugs like anti-anxiety medicines Lexotan and Valium, tranquilizer Rivotril and sedative Dormonid.

Also on Tuesday, airline Avianca Brasil, which filed for bankruptcy in December, announced the shutdown 21 of its routes in April and closure of its office at Rio's international airport.

In February, carmaker Ford closed its truck factory in Sao Bernardo do Campo, outside Sao Paulo. More than 3,200 people worked in that operation when the announcement was made and most of them are expected to be laid off in November. Authorities are trying to find a buyer for the plant, but have failed so far.

Workers at the Volkswagen plant in the same city accepted a cut in their benefits just to keep their jobs, a rare move that the local union agreed with.

Several other companies in financial difficulties have suggested they will not make big investments anytime soon, including companies that in 2017 promised to make new hires because of more flexible labor laws approved by Congress.

The Getulio Vargas Foundation think tank published a study on Monday saying the average growth of the Brazilian economy between 2011 and 2020 could be the worst since it started measuring in 1901, at 0.9 percent a year. From 2011 to 2018, it has averaged 0.6 percent growth.

The once-bullish Sao Paulo stock market, meanwhile, is now jittery about prospects for a major overhaul of the pension system meant to help the economy improve. Far-right President Bolsonaro backs the measure, which would delay or trim benefits for tens of millions, but it faces increasing resistance in Congress.

Economist Andre Perfeito said in a research note to clients that "the longer Brazil's economy remains weak, the more difficult it will be for Bolsonaro to get the reform approved in Congress."

Brazil's government has boasted that February's job figure is a sign a that recovery could come after all. More than 173,000 jobs were created, it said, the best figure in five years. Still, almost 13 million Brazilians are unemployed, also according with government figures.

The economic crisis is often dramatized in the shape of colossal lines outside job centers in major cities any time new openings appear. More than 15,000 people showed up at a center in Sao Paulo after 6,000 jobs were announced. The positions offered included telemarketing operator, salesman and supermarket cashier.

Thirty-eight-year-old Gerson Alcantara, who has been unemployed for six months, was one of the people in line from the early hours of the day. He has already worked as a security officer and a driver, but said he would take any job he is offered. He is not hopeful about the future, though.

"The crisis has gotten a lot worse," Alcantara said.

Asked if the approval of a pension reform by Congress would make the country's economy recover, he was skeptical. "That will only improve things for the rich," Alcantara said.

_____

Savarese reported from Madrid.

Source: Fox News World

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Tokyo court denies Ghosn’s request to attend Nissan board meeting: NHK

FILE PHOTO: Former Nissan Motor Chairman Carlos Ghosn sits inside a car as he leaves his lawyer's office after being released on bail from Tokyo Detention House, in Tokyo
FILE PHOTO: Former Nissan Motor Chairman Carlos Ghosn sits inside a car as he leaves his lawyer's office after being released on bail from Tokyo Detention House, in Tokyo, Japan, March 6, 2019. REUTERS/Issei Kato/File Photo

March 11, 2019

TOKYO (Reuters) – A Tokyo court denied former Nissan Motor boss Carlos Ghosn’s request to attend the automaker’s board meeting this week, days after he was released from detention on a $9 million bail, national broadcaster NHK reported on Monday.

Ghosn, who was detained for more than 100 days, applied to the Tokyo District Court for permission to attend Tuesday’s board meeting, as required under bail conditions, his lawyer Junichiro Hironaka told reporters.

He faces charges of under-reporting his salary by about $82 million over nearly a decade – charges he has called “meritless”.

(Reporting by Tokyo Newsroom; Editing by Christopher Cushing)

Source: OANN

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California professor reprimanded for saying police 'need to be killed,' reports say

An English and comparative literature professor in California was reprimanded after an interview quoted him as saying police “need to be killed,” according to reports.

The California Aggie also reported the tweets of UC Davis professor Joshua Clover, who is also a poet:

“I am thankful that every living cop will one day be dead, some by their own hand, some by others, too many of old age #letsnotmakemore” — tweeted on Nov. 27, 2014.

TEXAS COUPLE ARRESTED AFTER BODY OF DAUGHTER, 3, FOUND IN ACID-FILLED CONTAINER, POLICE SAY

“I mean, it’s easier to shoot cops when their backs are turned, no?” — tweeted on Dec. 27, 2014.

“People think that cops need to be reformed. They need to be killed.” — published in an interview on Jan. 31, 2016.

The university said in a statement: “The UC Davis administration condemns the statement of Professor Clover to which you refer. It does not reflect our institutional values, and we find it unconscionable that anyone would condone much less appear to advocate murder.  ...  We support law enforcement, and the UC Davis Police Department and Chief Joe Farrow have been and remain critical partners to our community.”

Clover, whose work focuses on critical and political theory, political economy, poetry, poetics and Marxism, wrote to The Aggie, saying, “I think we can all agree that the most effective way to end any violence against officers is the complete and immediate abolition of the police.”

Clover added he would “direct any further questions to the family of Michael Brown.”

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Brown, 18, black and unarmed, was fatally shot by white officer Darren Wilson on Aug. 9, 2014 in a St. Louis suburb. Wilson was cleared of wrongdoing and resigned in November 2014.

Clover did not respond to Fox News' request for comment.

Source: Fox News National

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United Technologies quarterly revenue rises 20 percent

United Technologies logo is displayed on a screen at the post where it's stock is traded on the floor of the NYSE in New York
FILE PHOTO: United Technologies logo is displayed on a screen at the post where it's stock is traded on the floor of the New York Stock Exchange (NYSE) in New York, U.S., September 5, 2017. REUTERS/Brendan McDermid

April 23, 2019

(Reuters) – U.S. industrial conglomerate United Technologies Corp on Wednesday reported a 20.5 percent rise in quarterly revenue, boosted by the acquisition of aero parts maker Rockwell Collins.

UTC’s net income attributable to shareholders was $1.35 billion, or $1.56 per share, in the first quarter ended March 31, compared with $1.30 billion, or $1.62 per share, a year earlier.

On an adjusted basis, the company earned $1.91 per share.

The company, which makes Pratt & Whitney aircraft engines, Otis elevators and Carrier air conditioners, said net sales rose 20.5 percent to $18.37 billion.

(Reporting by Ankit Ajmera in Bengaluru; Editing by Shounak Dasgupta)

Source: OANN

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FILE PHOTO: The Federal Reserve Board building on Constitution Avenue is pictured in Washington
FILE PHOTO: The Federal Reserve Board building on Constitution Avenue is pictured in Washington, U.S., March 27, 2019. REUTERS/Brendan McDermid

April 26, 2019

NEW YORK (Reuters) – The Federal Reserve may lower the interest it pays on excess reserves banks leave with it by 5 basis points at its April 30-May 1 policy meeting in a bid to prevent the federal funds rate from drifting higher, Morgan Stanley analysts said on Friday.

This would mark the third such “technical” adjustment on the interest on excess reserves (IOER) following cuts last June and December.

(Reporting by Richard Leong; Editing by Chizu Nomiyama)

Source: OANN

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The Latest on fatal pileup on Interstate 70 near Denver (all times local):

10:10 a.m.

Colorado officials say four people have died after a semi-truck hauling lumber plowed into vehicles on Interstate 70, causing a fire so intense that it melted the roadway and metal off of cars.

Authorities had to wait until daylight Friday to confirm the death toll from Thursday’s 28-vehicle pileup because of the devastation caused by the fire.

Six people were taken to hospitals with injuries. Their conditions are unclear.

Lakewood police spokesman Ty Countryman says the driver of the truck who caused the crash sustained minor injuries. He has been arrested on suspicion of vehicular homicide.

Officials say the driver was headed down a hill when he slammed into slower traffic. Countryman says there is no indication the crash was intentional.

____

7:40 a.m.

A truck driver blamed for causing a deadly pileup involving over two dozen vehicles near Denver has been arrested on vehicular homicide charges.

Lakewood police spokesman Ty Countryman said Friday that there’s no indication that drugs or alcohol played a role in Thursday’s crash.

The unidentified driver was headed down a hill on Interstate 70 when he slammed into slower traffic and sparked a massive fire. Countryman said police are looking at whether his brakes were working properly.

He said 28 vehicles were involved, up from the initial 15 vehicles police reported after further sorting through the burned wreckage.

Police still say there were multiple fatalities but are still working to provide an exact number.

The highway is expected to remain closed until Saturday.

Source: Fox News National

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Tiger woods celebrates after winning the 2019 Masters
FILE PHOTO: Golf – Masters – Augusta National Golf Club – Augusta, Georgia, U.S. – April 14, 2019 – Tiger Woods of the U.S. celebrates on the 18th hole after winning the 2019 Masters. REUTERS/Lucy Nicholson

April 26, 2019

Tiger Woods is sending a message that he thinks he still has enough left, emotionally and physically, to win three more major championships to tie Jack Nicklaus’ record 18 titles.

Speaking to GolfTV in his first sit-down interview since the Masters, Woods said he has taken some time off since his victory at Augusta National, which still doesn’t feel real.

“Honestly, it’s hard to believe,” Woods said. “I was texting one of my good friends last night … that I couldn’t believe that I won the tournament. That it really hasn’t sunk in. I haven’t started doing anything. I’ve just been laying there. And every now and again, I’ll look over there on the couch and there’s the jacket.”

That’s the fifth green jacket for the 43-year-old Woods, who hadn’t won a major tournament since the 2008 U.S. Open. Along the way, four back surgeries, a divorce and other personal issues derailed him.

He said he has been spending time with his children – daughter Sam, 11, and son Charlie, 10 – who weren’t born when their father was the most dominant golfer on the planet.

“They never knew golf to be a good thing in my life and only the only thing they remember is that it brought this incredible amount of pain to their dad and they don’t want to ever want to see their dad in pain,” Woods said. “And so to now have them see this side of it, the side that I’ve experienced for so many years of my life, but I had a battle to get back to this point, it feels good.”

He said he hopes – maybe expects — they’ll see this side again.

And no one will take Woods for granted at the PGA Championship at Bethpage Black Course on Long Island, N.Y., which starts May 16.

Woods said he’ll be ready for a course he already conquered once in a major: the 2002 U.S. Open.

“I’m doing all the visual stuff, but I haven’t put in the physical work yet. But it’s probably coming this weekend,” he said.

Before Woods encountered health and personal problems, it was expected that topping Nicklaus’ major mark was “when” and not “if.” Then the certainty went away, but Woods thought he still had a chance.

“I always thought it was possible, if I had everything go my way. It took him an entire career to get to 18, so now that I’ve had another extension to my career – one that I didn’t think I had a couple of years ago – if I do things correctly and everything falls my way, yeah, it’s a possibility. I’m never going to say it’s not.

“Now I just need to have a lot of things go my way, and who’s to say that it will or will not happen? That’s what the future holds, I don’t know. The only thing I can promise you is this: that I will be prepared.”

–Field Level Media

Source: OANN

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Maria Butina, the Russian woman who was accused of being a secret agent for the Russian government, was sentenced to 18 months in prison Friday by a federal judge in Washington after pleading guilty last year to a conspiracy charge.

Butina, who has already served nine months behind bars, will get credit for time served and can possibly get credit for good behavior, the judge said. She will be removed from the U.S. promptly on completion of her time, the judge added, and returned to Russia.

MARIA BUTINA, ACCUSED RUSSIAN SPY, PLEADS GUILTY TO CONSPIRACY

An emotional and apologetic Butina said in court Friday she is “truly sorry” and regrets not registering as a foreign agent.

“I feel ashamed and embarrassed,” she said, adding that her “reputation is ruined.”

Butina has been jailed since her arrest in July 2018. She entered the court Friday wearing a dark green prison jumpsuit and spoke in clear English, with a slight Russian accent.

“Please accept my apologies,” Butina said.

Butina’s lawyer, Robert Driscoll, said after the sentencing they had hoped for a “better outcome,” but expressed a desire for Butina to be released to her family by the fall.

Prosecutors had claimed Butina used her contacts with the National Rifle Association and the National Prayer Breakfast to develop relationships with U.S. politicians and gather information for Russia.

Prosecutors also have said that Butina’s boyfriend, conservative political operative Paul Erickson, identified in court papers as “U.S. Person 1,” helped her establish ties with the NRA.

WHO IS MARIA BUTINA, THE RUSSIAN WOMAN ACCUSED OF SPYING ON US?

In their filings, prosecutors claim federal agents found Butina had contact information for people suspected of being employed by Russia’s Federal Security Services, or FSB, the successor intelligence agency to the KGB. Inside her home, they found notes referring to a potential job offer from the FSB, according to the documents.

Investigators recovered several emails and Twitter direct message conversations in which Butina referred to the need to keep her work secret and, in one instance, said it should be “incognito.” Prosecutors said Butina had contact with Russian intelligence officials and that the FBI photographed her dining with a diplomat suspected of being a Russian intelligence agent.

Fox News’ Jason Donner, Bill Mears, Greg Norman and the Associated Press contributed to this report.

Source: Fox News Politics

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An official Sri Lankan police Twitter account was deleted after it misidentified an American human rights activist as a suspect in the country’s Easter Sunday terrorist attacks.

On Thursday, police posted the names and photos of six people that they said were at-large suspects in the bombings that killed more than 250 people.

However, one of the names on the list was Muslim U.S. activist Amara Majeed, who quickly tweeted that she had been falsely identified.

“I have this morning been FALSELY identified by the Sri Lankan government as one of the ISIS terrorists that committed the Easter attacks in Sri Lanka. What a thing to wake up to!” she wrote.

SRI LANKA AUTHORITIES SAY EASTER ATTACK LEADER KILLED IN ONE OF NINE HOTEL BOMBINGS

She wrote in a follow-up tweet that the claim was “obviously completely false” and asked social media users to “please stop implicating and associating me with these horrific attacks.”

“And next time, be more diligent about releasing such information that has the potential to deeply violate someone’s family and community,” she continued.

Later, she wrote an update saying police apologized for wrongly mistaking her as a suspect.

Police said in a statement: “However, although one of the released images was identified as one Abdul Cader Fathima Khadhiya in the information provided by the CID, the CID has now informed that a) the individual whose image was labeled as Abdul Cader Fathima Khadiya is not in fact Abdul Cader Fathima Khadiya b) the individual pictured is not wanted for questioning c) Abdul Cader Fathima is the correct name of the suspect wanted by the CID.”

On Friday, the account, @SriLankaPolice2 was deleted with no explanation. Police did not release more information regarding the mistake.

Majeed, who founded “The Hijab Project” when she was 16 years old, told the Baltimore Sun that it was hurtful to be linked to the attacks.

“Sri Lanka is my motherland,” the Brown University student said. “It’s very painful to be associated with [the bombings].”

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Mohamed Zahran, the suspected leader of the attacks which targeted six hotels and churches, killed himself in a suicide bombing at the Shangri-La hotel. Police also said they had arrested the second-in-command of the group, called National Towheed Jamaat. Catholic churches in Sri Lanka canceled all Sunday Masses until further notice over concerns that they remain a top target of Islamic State-linked extremists.

The Associated Press contributed to this report.

Source: Fox News World

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