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China Says It Won’t Use Exchange Rates as a “Tool” in Trade Dispute

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Exor’s Elkann says commitment to Fiat Chrysler unchanged

89th Geneva International Motor Show in Geneva
Fiat Chrysler Automobiles Chairman John Elkann attends the 89th Geneva International Motor Show in Geneva, Switzerland March 5, 2019. REUTERS/Denis Balibouse

April 2, 2019

MILAN (Reuters) – The chairman of Exor John Elkann said the Italian holding group’s commitment to carmaker Fiat Chrysler remained unchanged.

In a letter to Exor shareholders, Elkann, who is also chairman of Fiat, said the next 20 years for the automotive industry, like its first 20 years, would see a greater level of change than during the intervening 100.

“We are determined that we and Fiat Chrysler will play our part actively and ambitiously in this new and exciting era,” he said in the letter which was published late on Monday.

Exor is Fiat’s biggest shareholder.

Recent media reports have said France’s Renault could be eyeing a bid for Fiat while in March the president of Peugeot family holding company FFP said he would support a new deal and suggested Fiat Chrysler was among the options.

(Reporting by Stephen Jewkes)

Source: OANN

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Spanish government says Franco to be exhumed in June

Spain's Socialist government has set June 10 as the date for relocating the remains of dictator Gen. Francisco Franco from a self-aggrandizing mausoleum to a more discreet grave in a public cemetery in Madrid.

Prime Minister Pedro Sanchez, who is trying to remain in power in an April 28 general election, had promised to exhume Franco's embalmed body from the Valley of the Fallen by the end of 2018.

However, his call has been hampered by opposition from Franco's relatives and the abbot of the basilica where the dictator was buried in 1975.

The country's Supreme Court is set to deliver a preliminary decision in coming days.

Deputy Prime Minister Carmen Calvo said Friday that the government would comply with whatever the judges decide.

Source: Fox News World

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Japan’s 7-Eleven to replace leader as firm considers changing 24-hour policy

FILE PHOTO: A pedestrian walks in front of a signboard of Seven & I Holdings' 7-Eleven convenience store in Tokyo
FILE PHOTO: A pedestrian walks in front of a signage of Seven & I Holdings' 7-Eleven convenience store in Tokyo, Japan, April 7, 2016. REUTERS/Yuya Shino/File Photo

April 4, 2019

TOKYO (Reuters) – Japan’s biggest retail group Seven & I Holdings Co Ltd said it is replacing the head of its 7-Eleven convenience store business, amid pressure to abandon its 24-hour store policy due to a shortage of workers.

Seven-Eleven Japan Vice President Fumihiko Nagamatsu will replace President Kazuki Furuya, the company said on Thursday.

The company has come under pressure to change after complaints by franchise owners, some of whom were forced to keep working amid massive snowstorms or in the wake of a family death, attracted nationwide attention.

The company’s franchise system has helped buffer the impact of Japan’s tightest labor market in 40 years, as store owners are on the hook to pay wages after handing over royalty fees.

The group announced a 5 percent rise in operating profit in the year ended February, led by growth in the convenience store business, although its outlook for 2 percent growth in the current year was slightly weaker than market expectations.

Faced with criticism from store owners and recent calls for change by politicians, the company recently began testing shorter hours at 10 of its more than 20,700 stores.

The 7-Eleven chain, originating in the United States but now Japanese-owned, has grown since the 1970s as its 24-hour accessibility proved a perfect match with densely populated Japan and its late-night work culture.

Analysts have said more drastic change may be needed ahead as the population ages.

Rival FamilyMart UNY Holdings Co Ltd earlier this week said it was partnering with Panasonic Corp to incorporate a range of labour-saving technologies.

(Reporting by Ritsuko Shimizu and Ritsuko Ando; Editing by Muralikumar Anantharaman and Christopher Cushing)

Source: OANN

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9th Circuit mulls Trump WH policy of returning asylum seekers to Mexico temporarily

Another Trump administration immigration control effort went before the critical eye of the 9th Circuit U.S. Court of Appeals on Wednesday -- and appears likely to suffer a similar fate as previous government programs that the court's judges have struck down.

Wednesday's case before a three-judge panel examined the legality of the Department of Homeland Security’s Migrant Protection Protocols (MPP), an initiative announced in December to address what the feds called the “dramatically escalating burdens of unauthorized migration, which is causing irreparable harm.”

The idea: for Central American migrants who’ve crossed the U.S. border asking for asylum to be returned to Mexico temporarily. MPP was designed to provide relief to overburdened U.S. detention facilities by targeting people who were unlikely to make successful asylum claims.

Judge Paul Watford took issue with how the migrants have been processed and whether the government was giving them a fair opportunity to express their concerns about returning to Mexico – even if on a temporary basis.

“I don’t understand how that’s not arbitrary and capricious,” Watford said about current protocols which do not demand government border agents ask about fears migrants might have about staying in Mexico.

Judge Diarmuid O’Scannlain, a Reagan appointee who seemed favorably disposed to the government’s case, asked the lawyer representing migrants held in Mexico why her clients would rather be in detention in the United States than have freedom of movement in Mexico. “We don’t want to be in Mexico. We’d rather be in the United States,” Judy Rabinovitz of the ACLU replied.

Outside the courthouse after the hearing, Rabinovitz, who said she was cautiously optimistic for a favorable ruling, went on further to say, “we have... heard of people who are kidnapped and given death threats – didn’t matter – they were returned to Mexico.”

Judge William Fletcher criticized the government’s legal justification for the migrants it's placed in Mexico under existing laws that appear to have given separate classifications for different types of asylum seekers.

“We’ve got dogs and cats who go to the pound but that doesn’t turn a dog into a cat or vice versa,” Fletcher, who was appointed by President Clinton, analogized. President Obama appointed Watford.

BORDER GROUP LEADER INJURED IN NEW MEXICO JAIL FIGHT

Earlier this month, a lower court judge determined the Trump administration's policy violated existing federal law and failed to give adequate protection to migrants who feared for their safety in Mexico.

Judge Richard Seeborg issued a nationwide injunction immediately stopping immigration authorities from placing migrants in Mexico. President Trump blasted the decision, tweeting: “A 9th Circuit Judge just ruled that Mexico is too dangerous for migrants. So unfair to the U.S. OUT OF CONTROL!”

But, several days later, Seeborg’s injunction was stayed temporarily to allow each side to present Wednesday's arguments. That prompted another presidential tweet, “Finally, great news at the Border!”

Over the past couple of years, the 9th Circuit has ruled against the Trump administration’s travel ban and attempt to end protections for Deferred Action for Childhood Arrivals (DACA) recipients. It also has ruled in favor of "sanctuary" laws giving protection to illegal immigrants.

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The judges gave the packed third-floor courtroom no guidance on when a decision would be announced. The tenor of the arguments suggested the stay would be lifted but it wasn't clear whether the underlying injunction would be preserved in full or modified in a way that would keep MPP in place under an altered state.

If the judges decide to reinstate the injunction, the government has asked for a one-week delay to file an emergency appeal with the Supreme Court.

Source: Fox News Politics

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Marriott evaluates investor Jonathan Litt’s nomination for board seat

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 15, 2019

(Reuters) – Marriott International Inc said on Friday it was evaluating activist investor Jonathan Litt’s nomination for a seat on the hotel chain’s board.

Land & Buildings, founded by Litt, has a 0.03 percent stake in Marriott as of Dec. 31.

(Reporting by Sanjana Shivdas in Bengaluru; Editing by Shailesh Kuber)

Source: OANN

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Nissan ex-chair Ghosn appeal on extended detention rejected

Japan's top court has rejected an appeal by former Nissan Chairman Carlos Ghosn's lawyers against his extended detention after his fourth arrest on allegations of financial misconduct.

The decision Wednesday, conveyed to foreign media on Thursday, turns down the appeal by Ghosn's lawyers against an extension of his detention through April 22 that was approved Monday by the Tokyo District Court.

Ghosn, first arrested in November, was released March 6 on bail, but was arrested again on April 4.

He is charged with under-reporting his retirement compensation and with breach of trust. He denies any wrongdoing.

Ghosn led Nissan for two decades, turning around the company from near-bankruptcy. Last week, Nissan's shareholders voted to remove him from Nissan's board.

Source: Fox News World

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Extraordinary European Union leaders summit in Brussels
FILE PHOTO: Italian Prime Minister Giuseppe Conte arrives at an extraordinary European Union leaders summit to discuss Brexit, in Brussels, Belgium April 10, 2019. REUTERS/Yves Herman

April 26, 2019

(Reuters) – Italian Prime Minister Giuseppe Conte said on Friday he had assured China’s Huawei Technologies that it would not face discrimination in the rollout of Italy’s 5G telecoms network.

Conte was speaking on a visit to China where he said he met Huawei’s chief executive, Ren Zhengfei. The prime minister’s comments were carried in Italy by TV broadcaster Sky Italia.

“I told him that we have adopted some precautions, some measures to protect our interests that demand very high levels of security … not only from Huawei but any company entering into the 5G arena,” he said.

Huawei, the world’s biggest producer of telecoms equipment, is under intense scrutiny after the United States told allies not to use its technology because of fears it could be a vehicle for Chinese spying. Huawei has categorically denied this.

(Writing by by Mark Bendeich; Editing by Angelo Amante)

Source: OANN

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U.S. President Trump departs for travel to Indianapolis from the White House in Washington
U.S. President Donald Trump talks to reporters as he departs for travel to Indianapolis, Indiana from the White House in Washington, U.S., April 26, 2019. REUTERS/Jonathan Ernst

April 26, 2019

WASHINGTON (Reuters) – President Donald Trump on Friday was expected to announce his intention to revoke the United States’ status as a signatory of the Arms Trade Treaty, which was signed in 2013 by then-President Barack Obama but never ratified by Congress, two U.S. officials said.

Trump was expected to announce the decision in a speech in Indianapolis, to the National Rifle Association, the officials said. The NRA, a powerful gun lobby group, has long been opposed to the treaty, which was negotiated at the United Nations.

(Reporting By Steve Holland; Editing by Bill Trott)

Source: OANN

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A remote controlled robot for the 'Isotopium: Chernobyl' game is seen at the game's location in Brovary
A remote controlled robot for the ‘Isotopium: Chernobyl’ game is seen at the game’s location in Brovary, Ukraine April 25, 2019. REUTERS/Valentyn Ogirenko

April 26, 2019

By Margaryta Chornokondratenko

KIEV (Reuters) – A Ukrainian computer game that brings to life a town abandoned after the Chernobyl nuclear disaster may not sound like everyone’s idea of fun but has attracted 60,000 people globally since its launch in October.

Players of “Isotopium: Chernobyl” drive tanks around the ghost town of Prypyat near Chernobyl, knocking out competitors as they search for an energy source called isotopium and collecting points every time they find some.

While the game takes its theme from the nuclear disaster at Chernobyl in northern Ukraine, which marked its 33rd anniversary on Friday, it was also inspired by the 2009 science fiction film “Avatar”.

Newcomers to the game think they have entered a virtual world when in fact they are controlling a real robot, equipped with a camera and computer, which makes its way around a model of the town rendered down to the tiniest detail.

“When playing our game, for the first 5-10 minutes many players don’t understand that it is not fictional,” said the game’s co-founder Sergey Beskrestnov. “They message us saying: ‘You have cool texture, you have good graphics, your designer is good, well done. You have a cool operating system.’

“People then reply: ‘It is not an operating system, it is real,’ and the player can’t believe it is real,” said Beskrestnov, speaking mid-game from Prypyat city square as he towers over surrounding five-storey buildings.

Kiev-born Beskrestnov was just 12 years old when on April 26, 1986 a botched test at the nuclear plant in the then Soviet Union sent clouds of smoldering nuclear material across large swathes of Europe, forced over 50,000 people, including Beskrestnov’s family, to evacuate and poisoned unknown numbers of workers involved in its clean-up.

Beskrestnov and his partner Alexey Fateyev used Google maps and hundreds of pictures from the Chernobyl area to recreate Prypyat landmarks, including residential buildings, a hotel, concert hall, amusement park and a stadium.

The game’s real-scale model occupies a 180 square meter (1,938 sq. ft) basement of a residential building in the Ukraine city of Brovary, just 150 km (93 miles) from the Chernobyl Exclusion Zone and 30 km east of Kiev.

Miniature radioactivity warning signs, graffiti on the walls of abandoned buildings and tables and chairs left scattered inside a small cafe all add to the creepy atmosphere of a once lively town.

“It’s a really neat concept …,” Shaun Prescott wrote in a review of the game published by PC Gamer magazine in January. “Controlling the tanks is kinda cumbersome, but they are tanks, after all.”

An attentive player will notice at least one inaccuracy – the real Chernobyl nuclear power plant is not located in town as it is in the game.

It costs $9 to immerse in the atmosphere of a post-apocalyptic town for an hour but only 20 people at a time can play simultaneously. Beskrestnov’s company, Remote Games, said 62,615 people around the world have registered to play the game, including around 15,000 in France and 10,000 in the United States.

A camera fixed on top of a moving tank broadcasts high quality signal in real time, allowing players from as far apart as Australia and Canada enjoy the game without facing any time delay in delivering video signals.

Its creators next ambition is to devise a game featuring the colonization of Mars in which 1,000 people will be able to simultaneously control robots on different missions involved in the operation.

“Many people advise us to contact Elon Musk directly because it resonates his dreams and ideas,” Beskrestnov jokes.    

(Editing by Susan Fenton)

Source: OANN

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FILE PHOTO: A Starbucks sign is show on one of the companies stores in Los Angeles, California
FILE PHOTO: A Starbucks sign is show on one of the companies stores in Los Angeles, California, U.S. October 19,2018. REUTERS/Mike Blake/File Photo

April 26, 2019

(Reuters) – Initial optimism over first-quarter results from Starbucks Corp was waning fast on Wall Street on Friday, as analysts questioned the longer-term prospects of its new sales push given subdued overall customer traffic numbers especially in China.

The company on Thursday beat brokerage estimates for quarterly same-store sales on the back of demand for its new Cloud Macchiato, Matcha tea and cold brews in the United States.

However, BTIG’s Peter Saleh was one of a number of sector analysts who said while customers forking out for higher-priced new drinks had helped drive growth in same-store sales, “anemic” traffic at cafes remained a concern.

He and others pointed to a 1 percent decline in footfall at cafes in the Chinese market, viewed as crucial to the chain’s growth for the foreseeable future.

More broadly, transaction numbers, the substitute analysts use for customer traffic, were unchanged in all three of the company’s global regions.

Shares in the company, which hit a record high after the results on Thursday, fell 1 percent in morning trade.

“We remain cautious given near-term headwinds surrounding China, including cannibalization, increasing competition (and) a slowing economy,” Wedbush analyst Nick Setyan said.

Starbucks has also poured money into beefing up its delivery network in China as it battles with local startup Luckin Coffee, whose speedy growth led it to file for an IPO in the United States earlier this week.

New menu items and partnerships with delivery services, the heart of the company’s strategy to win back customers lost to artisanal coffee shops and cheaper fast-food rivals, did help Starbucks’ sales in its home market.

However, analysts said growth in China may continue to be subdued.

Wells Fargo analyst Bonnie Herzog said she expects store expansion in China to take priority over comparable sales growth.

She downgraded her rating on Starbucks’ to “market perform” from “outperform”, arguing that the company facing tough sales comparisons later on in 2019 from last year and the current rich valuation of shares meant the stock had limited room to rise.

“Investors will be hesitant to invest new money in a stock with a topline that, while still strong, is unlikely to meaningfully accelerate,” Herzog said.

Still, the company’s solid same-store growth in the United States, improving profit margins and a lower tax rate for the rest of the year led at least 6 Wall Street brokerages to raise their price targets on the stock to as high as $81.

11 of 29 brokerages rate Starbucks “buy” or higher, 17 “hold” and 1 “sell” or lower. Their median price target is $75.

(Reporting by Uday Sampath in Bengaluru)

Source: OANN

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A man accused of fatally beating a 4-month-old boy after finding out the infant wasn’t his son had been previously deported from the United States five times, most recently in late 2016, immigration officials said.

Carlos Zuniga-Aviles, a 33-year-old Honduran national, has used multiple aliases, including the fake name of Jose Agurcia-Avila he gave police in Memphis, Tennessee, following his arrest in the boy’s death earlier this month, US Immigration and Customs Enforcement officials told WMC-TV.

ICE officials have since filed an immigration detainer against Zuniga-Aviles, who was initially deported back to Honduras in February 2010. He was also returned to the Central American country in 2011, 2012, 2015 and 2016.

CLICK HERE TO READ MORE FROM THE NEW YORK POST

“ICE will seek to take him into custody to reinstate his removal order following the resolution of the criminal charges he currently faces,” the statement reads. “Mr. Zuniga-Aviles has been removed from the US five prior times: his most recent removal by ICE to Honduras took place in December 2016.”

ILLEGAL IMMIGRANT WITH CRIMINAL HISTORY ARRESTED IN CALIFORNIA WOMAN’S MURDER

Zuniga-Aviles later returned to the U.S. following his removal, a felony under federal law, immigration officials said. It’s unclear exactly when he returned, but he was living with his girlfriend and the woman’s 4-month-old son in Memphis at the time of his arrest, WREG reports.

DAD OF MAN KILLED BY ILLEGAL IMMIGRANT BLASTS CALIFORNIA GOV. NEWSOM’S TRIP TO CENTRAL AMERICA: ‘IT’S DISGUSTING’

The infant, Alexander Lizondro-Chacon, was pronounced dead at a hospital from blunt force trauma to the head after his mother, Mercy Lizondro-Chacon, called police on April 12 to report that the boy was having trouble breathing, according to an affidavit of complaint obtained by the Commercial Appeal.

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This article originally appeared in the New York Post. For more from the Post, click here.

Source: Fox News National

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