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British parliament to vote on Brexit delay, PM seeks to revive her deal

Britain's Prime Minister Theresa May speaks in Parliament following the vote on Brexit in London
Britain's Prime Minister Theresa May speaks in Parliament following the vote on Brexit in London, Britain, March 13, 2019. UK Parliament/Mark Duffy/Handout via REUTERS

March 14, 2019

By Paul Sandle and James Davey

LONDON (Reuters) – Britain’s parliament was due to vote on Thursday on whether to delay Brexit beyond March 29 and Prime Minister Theresa May prepared to push lawmakers to vote again before then on her EU divorce deal, which they have twice rejected.

Key to May’s plan will be an attempt to persuade the most pro-Brexit lawmakers to reverse their opposition to her deal in the face of a possibly long delay that could mean Britain ends up with a closer relationship with the EU than May’s plan foresees or that Brexit is overturned in a second referendum.

Arlene Foster, leader of the Northern Irish Democratic Unionist Party (DUP) that props up May’s minority government in parliament but which has so far voted against May’s agreement, said it was working with the government to try to find a way of leaving the EU with a deal.

On Wednesday, parliament rejected the prospect of leaving the European Union without a deal, paving the way for Thursday’s vote that could delay Brexit until at least the end of June.

Sterling surged as investors saw less chance of Britain leaving the EU without a transition deal to smooth its exit.

British finance minister Philip Hammond said Brussels might insist on a long delay to Brexit if the UK government requests an extension to the process.

‘NOT IN OUR CONTROL’

“This is not in our control and the European Union is signaling that only if we have a deal is it likely to be willing to grant a short technical extension to get the legislation through,” Hammond told Sky News.

“If we don’t have a deal, and if we’re still discussing among ourselves what is the right way to go forward, then it’s quite possible that the EU may insist on a significantly longer period,” he said.

May said on Wednesday lawmakers would need to agree a way forward before an extension could be obtained. All 27 other EU member states must agree to any extension.

She said her preference was for a short delay, meaning the government could try to pass the deal she negotiated with the EU by the middle of next week, even though it was rejected heavily by lawmakers in January and again on Tuesday.

Andrew Bridgen, a eurosceptic lawmaker from May’s Conservative Party accused her of pursuing a “scorched earth” policy of destroying all other Brexit options to leave lawmakers with a choice between her deal and a delay of a year or more.

A senior official in Britain’s opposition Labour Party said it would support a limited extension to the Brexit date beyond March 29 in order to seek a compromise that can be backed by lawmakers.

“We will be putting an amendment down to ensure parliament considers an extension, it doesn’t necessarily have to be a long extension,” Labour’s finance spokesman John McDonnell told Sky News. “We will go for a limited extension today.”

Lawmakers filed amendments to the government’s motion on delaying Brexit that is due to be put to a vote later on Thursday.

One amendment seeks to rule out a second referendum while another is for a second referendum. A Labour Party amendment calls for a delay to Brexit to allow parliament time to find an alternative way forward.

(Writing by William Schomberg, Additional reporting by William James; Editing by Janet Lawrence)

Source: OANN

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Sen. Schumer on Impeachment: 'Let's Wait for the Report'

Senate Minority Leader Chuck Schumer said he is withholding judgment on whether he supports the possibility of impeaching President Donald Trump until after the Russia investigation concludes and the report is issued.

"I'm going to wait for the Mueller report," Schumer said, according to The Washington Times.

"Let's wait for the report."

House Speaker Nancy Pelosi made headlines Monday when she insisted impeachment is "divisive to the country" and she is not in favor of pursuing impeachment of the sitting president.

"And he's just not worth it," she said.

With Democrats now in control of the House, they are probing into Trump's background as they search for anything that shows Trump might have broken the law. At the same time, special counsel Robert Mueller is conducting a Department of Justice investigation into whether the Trump campaign conspired with Russia to win the 2016 presidential election.

Some recent reports suggest Mueller's probe could be over soon.

Source: NewsMax America

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Latam lender replaces Venezuela’s Maduro representative with Guaido economist

FILE PHOTO: Ricardo Hausmann from Harvard University
FILE PHOTO: Ricardo Hausmann from Harvard University speaks on Day 1 of Securing Sport 2015 - the annual conference of the International Centre for Sports Security (ICSS). Photo Andrew Kelly for ICSS/File Photo

March 15, 2019

By Lesley Wroughton

WASHINGTON (Reuters) – The Inter-American Development Bank on Friday ousted the representative of Venezuela’s President Nicolas Maduro and replaced him with an economist backed by opposition leader Juan Guaido, a major setback for the Maduro government.

The decision makes Latin America’s largest regional lender the first financial institution to back Guaido and would free up development lending to Venezuela if Maduro steps down.

Guaido, who has the support of over 50 countries, including the United States and many in Latin America, named Harvard University economist Ricardo Hausmann as his representative to the IADB.

Washington has said that billions of dollars of financing from multilateral banks will be needed to rebuild Venezuela’s economy, which has been crippled by years of hyperinflation and shortages of food and medicine.

The IADB said in a statement the appointment of Hausmann was effective immediately, following a vote by the lender’s 48-member board of governors.

The Washington-headquartered lender said a sufficient number of members had voted “to meet the requirements of quorum and favorable votes for a decision.”

Meanwhile, the International Monetary Fund’s board of member countries agreed to delay a discussion on recognizing Guaido until next week, board sources with knowledge of discussions told Reuters.

The board meeting, which was scheduled for Thursday, was delayed at the request of several European countries which needed to consult with their governments, the sources said.

Maduro retains the support of China, Russia, and some regional countries, including Cuba and Bolivia, whose leftist President Evo Morales criticized foreign meddling in Venezuela earlier on Friday.

(Reporting by Lesley Wroughton; Editing by Chizu Nomiyama and Rosalba O’Brien)

Source: OANN

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U.S. looking at responses to unilateral digital taxes: Treasury official

FILE PHOTO: Apple company logos are reflected on the glass window outside an Apple store in Shanghai
FILE PHOTO: Apple company logos are reflected on the glass window outside an Apple store in Shanghai, China January 3, 2019. REUTERS/Aly Song/File Photo

March 12, 2019

PARIS (Reuters) – The U.S. government is looking at how to respond to plans by governments such as France and Britain for taxes specifically targeting digital companies, a senior U.S. Treasury official said on Tuesday.

France and Britain as well as Italy and Spain are pushing ahead with plans for such taxes at the national level after EU countries failed to reach an agreement for the bloc as a whole.

Other countries outside the EU such as Australia are also planning such taxes in the absence of a broader reform of international tax rules to account for the rise of big digital companies such as Apple, Google and Facebook.

Chip Harter, the U.S. Treasury’s top international tax official, said such unilateral taxes were “ill conceived” and that it was better to pursue broader international tax reform at the Organisation for Economic Co-operation & Development (OECD).

“The challenges facing the international tax system are just far broader than how to tax social media and search engines,” Harter told journalists in Paris before talks at the OECD, a club of mostly wealthy nations, later this week.

The emergence of digital giants has pushed international tax rules to the limit because they can book profits in countries with the lowest taxes no matter where the customer is, which some countries like France say is unfair.

“The United States opposes any digital services tax proposals whether they be French or UK,” Harter said.

“What we have seen of the most recent French proposals, we view them as highly discriminatory against U.S. businesses … Various parts of our government are studying whether that discriminatory impact would give us rights under trade agreements, WTO, treaties,” he added.

Global reform of international tax rules have been debated for years but progress has been slow in the face of widely varying national interests.

A new push is under way at the Paris-based OECD after nearly 127 countries and territories agreed in January that any revision of global tax rules should tackle some of the most vexed issues, such as how to divide up the right to tax digital firms’ cross-border income between countries.

Speaking in a public session of a meeting of EU finance ministers, Romania’s Eugen Teodorovici said EU governments will focus on trying to reach a common position over the OECD-led overhaul.

If that reform were delayed beyond 2020, the EU could restart talks for its own tax, after they foundered because of the opposition of some governments in the 28-nation bloc.

(Reporting by Leigh Thomas; Additional reporting by Francesco Guarascio; Editing by Alison Williams)

Source: OANN

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Denmark shooting leaves 1 dead, 4 wounded; gangs suspected

Danish police say a 20-year-old man has died and at least four people have been injured in an outbreak of gunfire north of Copenhagen in what appears to be a clash between criminal gangs.

Police said the shootings in the suburban neighborhood of Rungsted late Saturday have led to the arrest of 14 people after raids in several areas.

Spokesman Lau Thygssen of the Copenhagen regional police told Danish broadcaster TV2 that those involved in the gunfire were "younger men aged about 20-27 years and we think they have gang relations."

The injured were rushed to a hospital. Police are investigating the deadly clash.

Source: Fox News World

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Japan Olympic minister resigns after offending remarks

FILE PHOTO: Japan's new Olympic Minister Sakurada arrives at Prime Minister Shinzo Abe's official residence in Tokyo
FILE PHOTO: Japan's new Olympic Minister Yoshitaka Sakurada arrives at Prime Minister Shinzo Abe's official residence in Tokyo, Japan October 2, 2018. REUTERS/Issei Kato

April 10, 2019

TOKYO (Reuters) – Japan’s Olympic Minister, Yoshitaka Sakurada, resigned on Wednesday after he made remarks that offended people affected by the massive earthquake and tsunami that triggered nuclear meltdowns in 2011.

“Minister Sakurada offered to resign as he made comments that hurt the feelings of those in the disaster affected areas,” Prime Minister Shinzo Abe told reporters after he accepted Sakurada’s resignation.

(Reporting by Kiyoshi Takenaka; editing by Darren Schuettler)

Source: OANN

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Ocasio-Cortez’s Selective Memory on the New Deal

Alexandria Ocasio-Cortez never misses the opportunity to bash capitalism.

At the 2019 South by Southwest festival, the Congresswoman derided capitalism, describing it as “irredeemable.” She says that the U.S. is currently facing the consequences of “putting profits over everything else in our society.” Curiously, the freshmen congresswoman pivoted her rant towards a critique of the New Deal.

How could such a staunch leftist like Ocasio-Cortez — who fashioned her pet legislation as the “Green New Deal” — criticize its 20th-century predecessor? She was able to do so by turning this discussion into a matter of race.

In her view, Roosevelt’s New Deal cut African Americans a raw deal:

“The New Deal was an extremely economically racist policy that drew little red lines around black and brown communities and it invested in white America.”

Ocasio-Cortez continued expanding on the New Deal’s harmful effects: “It allowed white Americans access to home loans that black Americans didn’t have access to, giving them access to the greatest source of intergenerational wealth.”

Misinterpreting the New Deal’s Racist History

The congresswoman is correct about the New Deal’s racist policies, albeit from an observational standpoint. I wrote about this previously, detailing how the federal government promoted segregated housing during the New Deal at the African-American community’s expense.

However, Ocasio-Cortez’s talk about the New Deal flagrantly omits other government interventions that clearly affected racial minorities in a negative way. The Wagner Act of 1935 — which established labor-union monopolies — gave incumbent unions tremendous power to exclude low-wage workers. During this period, union heavyweights discriminated against black workers in order to keep wages artificially high for white workers.

Similarly, the National Industrial Recovery Act of 1933 allowed the executive branch to create industrial cartels to restrict output and enact minimum-wage policies. This resulted in approximately 500,000 blacks being pushed out of the labor market thanks to high, non-market wages.

Despite these overlooked aspects of the New Deal, Ocasio-Cortez continues to race hustle and thinks that more government intervention will somehow “correct” past injustices that the government itself created.

How Limited Government Made African Americans Prosperous

In contrast to the New Deal, markets have historically helped racial minorities. It was during the Gilded Age that the African-American community was able to first establish itself as an economic force. This was an era when there was no welfare state, no federal tax maze, nor an alphabet soup of bureaucracy to impede capital accumulation and business creation.

During this time, African American civil society was at its peak. David Beito’s From Mutual Aid to Welfare State was a seminal work in demonstrating how the African-American community thrived without any form of government assistance before the New Deal. Civic organizations like the Independent Order of Saint Luke and the United Order of True Reformers “specialized initially in sickness and burial insurance,” and became leading institutions in African-American civil society.

The Independent Order of Saint Luke stood out for its entrepreneurial endeavors and ended up establishing the Saint Luke Penny Savings Bank of Richmond, which had the honor of having Maggie L. Walker as the first, black female bank president in American history.

Additionally, prosperous enclaves such as “Black Wall Street ” in Tulsa, Oklahoma’s Greenwood District and Detroit’s Black Bottom neighborhood demonstrated the power of black capitalism. No central planning was needed to establish these business neighborhoods.

Alexandria Ocasio-Cortez and her intellectual cohorts make sure that this history falls down the memory hole. Bashing capitalism is simply too easy and anything that disrupts the narrative, must be cast aside.

Is Capitalism Truly Irredeemable?

So, is capitalism irredeemable and worthy of eternal scorn? Human Progress depicts what capitalism has been able to achieve, even with the fiscal and regulatory shackles imposed on it:

“….in 1820, 94 percent of the world’s population lived in extreme poverty (less than $1.90 per day adjusted for purchasing power). In 1990 this figure was 34.8 percent, and in 2015, just 9.6 percent.”

Human Progress’s findings are in line with Mises’s view in Human Action that economies with nominal degrees of capitalism are still capable of delivering constant improvements in living standards: “The characteristic mark of economic history under capitalism is unceasing economic progress, a steady increase in the quantity of capital goods available, and a continuous trend toward an improvement in the general standard of living.”

Most importantly, capitalism has made us more humane in our treatment of domestic animals and has granted women and children unprecedented access to leisure activities and educational opportunities to improve economically. Sadly, select parts of the world — especially present-day Venezuela — have regressed into barbarism due to their political class’s complete rejection of capitalism and private property rights.

Indeed, Western mixed economies still have work to do, but the direction they must head towards is one of more liberalization, not government control.

The Invisible Iron Fist of Government Bureaucracy

Politicians like Ocasio-Cortez see poverty and working-class people struggling to make ends meet, but they don’t see the mountains of paperwork and regulations in the background that make the cost of living so high and make it difficult to run a small business. They also ignore the minimum wage laws that keep countless unskilled minority workers – their primary constituents – from entering the workforce and getting the experience they need to improve their lives.

Refuting the historical distortions and false narratives surrounding capitalism is incumbent upon on all free-marketers. George Orwell said it best, “Who controls the past controls the future. Who controls the present controls the past.”

Politicians like Alexandria Ocasio-Cortez come and go, but their ideas have staying power. When these ideas are allowed to go unchallenged, they can transform into veritable nightmares in the political arena. The very least we could do is challenge these flawed ideas. If we fail to do so, we are only sowing the seeds for our inevitable defeat.


Attorney General William Barr is beginning to call out the Obama & Hillary camps for the crimes they committed during the 2016 presidential elections.

Source: InfoWars

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FILE PHOTO: The Credit Suisse logo is pictured on a bank in Geneva
FILE PHOTO: The Credit Suisse logo is pictured on a bank in Geneva, Switzerland, October 17, 2017. REUTERS/Denis Balibouse/File Photo

April 26, 2019

ZURICH (Reuters) – Shareholders approved Credit Suisse’s 2018 compensation report with an 82 percent majority on Friday, overriding frustrations expressed at its annual general meeting over jumps in executive pay during a year its share price plummeted.

Three shareholder advisers had recommended investors vote against Switzerland’s second-biggest bank’s remuneration report, while a fourth backed the report but expressed reservations about whether management pay matched performance.

The approval marked a slight increase over the 80.8 percent support garnered for the bank’s 2017 compensation report.

(Reporting by Brenna Hughes Neghaiwi; Editing by Michael Shields)

Source: OANN

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FILE PHOTO: Traders work on the trading floor of Barclays Bank at Canary Wharf in London
FILE PHOTO: Traders work on the trading floor of Barclays Bank at Canary Wharf in London, Britain December 7, 2018. REUTERS/Simon Dawson/File Photo

April 26, 2019

By Simon Jessop and Sinead Cruise

LONDON (Reuters) – Activist investor Edward Bramson is likely to fail in his attempt to get a board seat at Barclays’ annual meeting next week, even though shareholders are dissatisfied with performance of the group’s investment bank.

New York-based Bramson’s Sherborne Investors and the board of the British bank have been sparring for months over Barclays’ strategy.

Bramson wants to scale back Barclays’ investment bank to reduce risk and boost shareholder returns. Barclays Chief Executive Jes Staley remains staunchly committed to growing the business out of trouble.

After failing to persuade Staley to change course since he began building a 5.5 percent stake in the bank in March last year, Bramson hopes a board seat will rachet up the pressure.

Both sides have written to shareholders pitching their case and Bramson has courted investors in one-on-one meetings, although none have publicly backed him yet.

Interviews by Reuters with five institutional investors in Barclays suggest Bramson has failed to persuade them.

Sherborne declined to comment.

Mirza Baig, head of investment stewardship at top-40 shareholder Aviva Investors, said Bramson was welcome on the bank’s register but the boardroom was a step too far.

“He has created a lot of value at other businesses, but, generally, when he has come in as executive chair and taken full control. This would be a different case where he would just be one lone voice on the board,” he said.

A second Barclays shareholder said he backed Bramson’s goal of improving returns but via an “evolutionary” approach.

“If you look at banks that have tried to restructure their operations in investment banking – you look at Natwest Markets, Deutsche Bank – I struggle to think of an example where a roughshod restructuring has been accretive to shareholder value.”

A third, top-30 investor said he had been impressed by incoming Chairman Nigel Higgins’ grasp of the challenge in hand, and felt investors would give him time.

“Management know they have to execute and deliver improved returns… [Higgins] will continue to re-shape the board but obviously he didn’t feel that having someone with a diametrically opposed view on it would be helpful.”

A fourth, top-30 investor agreed: “We voted for the chairman to come in and it would be crazy to allow an activist to join the board (at this time).”

Jupiter Fund Management, the 24th largest investor, said it also planned to vote against Bramson.

Barclays has nearly 500 institutional shareholders, Refinitiv data showed.

Since Staley joined Barclays in 2015, the investment bank returns relative to capital invested have increased but are still underperforming the overall business.

Barclays’ first-quarter figures showed the investment bank posted a 6 percent drop in income from its markets business and a 17 percent fall in banking advisory fees.

Returns in the investment bank fell to 9.5 percent from 13.2 percent a year ago.

Famed for successful campaigns against smaller British companies in sectors from chemicals to advertising, Bramson’s board seat pitch has been rebuffed by shareholder advisory firms.

Institutional Shareholder Services, the world’s biggest, said Bramson’s proposal “falls short of what can reasonably be expected from a shareholder trying to address issues at a 28 billion pounds, systemically important bank”.

Glass Lewis also flagged concern about Bramson’s lack of banking experience and “questionable” shareholding structure, referring to Sherborne’s use of derivative contracts to hedge losses should its strategy fail.

Critics said the arrangement meant his interests are not truly aligned with those of other long-term shareholders.

British advisory firm Pirc, however, said it recommended that investors abstain in the vote on Bramson’s proposal as a challenge to the board to do better in the year ahead – or face a similar contest in 2020.

(Editing by Jane Merriman)

Source: OANN

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https://a57.foxnews.com/static.foxnews.com/foxnews.com/content/uploads/2019/04/918/516/02_2.jpg?ve=1&tl=1

After an over 15-month pregnancy, “Akuti,” a 7-year-old Greater One Horned Indian Rhinoceros, gave birth as a result of induced ovulation and artificial insemination at Zoo Miami, April 23, 2019.

Ron Magill/Zoo Miami

https://a57.foxnews.com/static.foxnews.com/foxnews.com/content/uploads/2019/04/918/516/02_2.jpg?ve=1&tl=1

Source: Fox News World

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FILE PHOTO: File photo of a Chevron gas station sign in Del Mar, California
FILE PHOTO: A Chevron gas station sign is seen in Del Mar, California, in this April 25, 2013 file photo. REUTERS/Mike Blake/File Photo

April 26, 2019

(Reuters) – U.S. oil and natural gas producer Chevron Corp reported a 27 percent fall in quarterly earnings on Friday, hit by lower crude prices and weaker margins in its refining and chemicals businesses.

Net income attributable to the company fell to $2.65 billion, or $1.39 per share, for the first quarter ended March 31, from $3.64 billion, or $1.90 per share, a year earlier.

Earlier in the day, larger rival Exxon Mobil Corp reported earnings well below analysts’ estimates, as margins in its refining business were hurt by higher Canadian prices and heavy scheduled maintenance.

(Reporting by Arathy S Nair in Bengaluru; Editing by Saumyadeb Chakrabarty)

Source: OANN

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FILE PHOTO: Ford logo is seen at the North American International Auto Show in Detroit, Michigan
FILE PHOTO: The Ford logo is seen at the North American International Auto Show in Detroit, Michigan, U.S., January 15, 2019. REUTERS/Brendan McDermid/File Photo

April 26, 2019

(Reuters) – Ford Motor Co said on Friday the U.S. Department of Justice had opened a criminal investigation into the automaker’s emissions certification process in the United States.

The potential concern does not involve the use of defeat devices, the company said in a regulatory filing. (https://bit.ly/2VqjHpl)

Ford had voluntarily disclosed the matter to the U.S. Environmental Protection Agency and the California Air Resources Board in February.

(Reporting by Ankit Ajmera in Bengaluru; Editing by James Emmanuel)

Source: OANN

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