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Right-wing opposition sweeps to power in Canada’s oil region, sets up fight with Trudeau

Supporters react to polling results at the UCP election night headquarters in Calgary
Supporters react to polling results at the United Conservative Party (UCP) provincial election night headquarters in Calgary, Alberta, Canada April 16, 2019. REUTERS/Chris Wattie

April 17, 2019

By Nia Williams

CALGARY, Alberta (Reuters) – A right-of-center party that champions the energy industry swept to power in Canada’s main oil-producing province of Alberta on Tuesday, setting up a fight with Prime Minister Justin Trudeau over climate change just months ahead of a federal election.

Television networks predicted the United Conservative Party of Jason Kenney had as expected easily defeated the left-leaning New Democratic Party government of Rachel Notley amid frustration over the economy and a beleaguered energy industry.

In an often belligerent campaign, Kenney promised to stand up for Albertans against Trudeau and other politicians he said were taking the province and its oil and gas for granted.

Notley’s government introduced a carbon tax to help cut emissions of greenhouse gases, a measure Kenney promised to scrap. Trudeau says he will impose a price on carbon on any province without a plan to fight climate change.

Kenney, a 50-year-old former federal Cabinet minister, vowed to take more decisive action on jobs and the economy. Both Kenney and Notley blame Trudeau for a lack of progress on new oil export pipelines.

The NDP ended decades of conservative rule in Alberta when it swept to power in the 2015 election, but inherited an economy hammered by a global crude price crash.

(Writing by Nia Williams and David Ljunggren; Editing by Steve Scherer and Peter Cooney)

Source: OANN

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N.C. Dem Brings in $1.6 M for House Bid

Democrat Dan McCready said he has raised $1.6 million in the first quarter for his campaign to represent the 9th Congressional District in North Carolina, The Hill is reporting.

McCready had run for the seat last year against Republican Mark Harris. However, allegations of election fraud prompted officials to schedule a new election. Harris had announced he would not run again. McCready is the only Democrat in the race, while 10 Republicans will battle in a May 14 primary.

“This is just one more sign of the incredible energy and momentum we’re seeing on the ground as we head into the special election,” McCready said regarding his fundraising haul.

“Let this be a warning to every politician who turned a blind eye to election fraud and corruption. We aren’t just talking about taking our state back. We’re doing it. This is just the beginning.”

Source: NewsMax Politics

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Brazil government, house speaker bury hatchet to save pension bill

FILE PHOTO - Brazil's President Jair Bolsonaro is seen near Brazil's Vice President Hamilton Mourao during an award ceremony for the Order of Military Judicial Merit, in Brasilia
FILE PHOTO - Brazil's President Jair Bolsonaro is seen near Brazil's Vice President Hamilton Mourao during an award ceremony for the Order of Military Judicial Merit, in Brasilia, Brazil March 28, 2019. REUTERS/Ueslei Marcelino

March 28, 2019

By Mateus Maia

BRASILIA (Reuters) – Brazil’s president, economy minister and speaker of the lower house of Congress patched things up publicly on Thursday, trying to move past days of finger pointing to focus on passing a thorny pension reform to save the country’s public finances.

Their pledge to bury the hatchet helped Brazilian markets rebound a day after a sharp plunge on fears that the bickering would sink the cornerstone of the government’s economic agenda.

Elected to tackle crime and kickstart the economy, President Jair Bolsonaro has become increasingly bogged down in petty fighting and social media crusades that hurt his poll numbers and led investors to question whether he can deliver major fiscal reforms.

Brazil’s benchmark stock index jumped 2.7 percent on the peace signs and the local currency firmed 1.1 percent — in both cases nearly erasing Wednesday’s losses.

Economy Minister Paulo Guedes, who on Wednesday said he would quit if there was no appetite for his pension proposal, said the “noise” surrounding the reform will diminish.

Speaking to reporters alongside House Speaker Rodrigo Maia in Brasilia, he said he had Bolsonaro and Maia’s full support to get the pension overhaul through Congress.

Echoing the sense of a fresh start, Maia said his aim was to get the reform process back on track.

Maia also sought to downplay a festering spat with Bolsonaro, who on Wednesday said the house speaker was “shaken up by personal matters” — seen as a reference to the legal problems of his wife’s stepfather, a former minister accused of corruption.

Bolsonaro said he had “no problems” with Maia.

Marcelo Freitas, a freshman lawmaker from Bolsonaro’s Social Liberal Party (PSL), was announced later on Thursday as the government’s lead legislator for the pension reform bill.

The president’s chief of staff, Onyx Lorenzoni, said congressional leaders agreed it was best that the job should fall to someone in Bolsonaro’s party.

Separately, when asked whether he still planned to move Brazil’s embassy in Israel from Tel Aviv to Jerusalem, Bolsonaro backtracked and told reporters that the government may instead open a “business office” in Jerusalem.

Brazil’s agriculture sector is ardently against any embassy move, which could threaten the country’s world-leading $5 billion in halal meat exports to Muslim countries.

(Reporting by Mateus Maia; Additional reporting by Lisandra Paraguassu; writing by Gabriel Stargardter; editing by Brad Haynes, Leslie Adler and Lisa Shumaker)

Source: OANN

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Brazil bridge collapse could affect grain shipments in north

A bridge over the Moju River is seen after collapsing in Acara
A bridge over the Moju River is seen after collapsing and potentially affecting shipments of grains, such as soybeans and corn through northern ports at Alca Viaria complex in the Highway PA-483 in Acara, Para state, Brazil April 6, 2019. Fernando Araujo/Agencia Brasil/Handout via REUTERS

April 6, 2019

SAO PAULO (Reuters) – Part of a bridge over the Moju River in Brazil’s Para state collapsed early on Saturday, potentially affecting shipment of grains such as soybeans and corn through northern ports, local authorities and an agribusiness consultant said.

The bridge fell after it was hit by a boat, Governor Helder Barbalho said on Twitter, where he also posted videos of a large section of the bridge in the water. He said this was not the first time such an accident had occurred.

According to the official Agência Brasil news agency, two vehicles were crossing the bridge at the time of the collision.

“At the moment, our priority is searching for victims and giving complete support to their families,” Barbalho was quoted as saying in a statement from Para’s state news agency.

According to rescue workers, no crew or documents from the boat that collided against the bridge were found on the scene. The number of casualties was unclear.

Kory Melby, an agribusiness consultant based in the city of Goiania, said the bridge was on the main route connecting Brazil’s farm country to its northern ports.

“It will probably take years for that bridge to be rebuilt,” he said by telephone.

The consultant noted the bridge was located some 50 kilometers (31 miles) from Belém, capital of Pará state, where three major grain loaders operate, including Archer Daniels Midland Co, Bunge Ltd and Hidrovias do Brasil SA.

The companies did not immediately reply to requests for comment.

Melby said barge traffic would not be affected on the Tocantins and Amazon rivers, which use river ports including Vila do Conde and Barcarena. Some 10 to 20 percent of the soy grown in Brazil’s center west is delivered by road at those ports, he said.

Willians Ribeiro, a supervisor at Vila do Conde, told Reuters road traffic to that port would be affected but there were alternative routes.

Shipping statistics show some 5.7 million tonnes of soybeans and 3 million tonnes of corn were unloaded in 2018 in the region, a volume likely to increase due to port expansions, according to the consultant.

(Reporting by Alberto Alerigi; Additional reporting and writing by Ana Mano; Editing by Daniel Wallis and Rosalba O’Brien)

Source: OANN

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Tourists, Easter worshippers lament closure of Notre Dame

Tourists, devout Catholics and others are looking on mournfully at Notre Dame Cathedral, regretting that they can't get inside the magnificent monument on this Easter weekend because of the damage caused by a violent fire.

The Paris fire service said Saturday that the last hot points have been cooled, and firefighters who had worked inside non-stop since Monday's fire have now left.

Crowds lined the embankments across from the cathedral Saturday, taking photos or just staring in shock. The fire collapsed the spire and destroyed the roof of the 12th century monument, and Easter services normally held in Notre Dame are being conducted elsewhere.

Visitor Susan Harlow of Kansas City, Missouri, said: "We didn't get here in time to see it. And now we probably never will," given the many years it's expected to take to repair.

Source: Fox News World

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Olympics: Peaty to focus on 100m breaststroke in Tokyo

FILE PHOTO: Swimming - Men's 100m Breaststroke Victory Ceremony
FILE PHOTO: 2016 Rio Olympics - Swimming - Victory Ceremony - Men's 100m Breaststroke Victory Ceremony - Olympic Aquatics Stadium - Rio de Janeiro, Brazil - 07/08/2016. Adam Peaty (GBR) of United Kingdom poses with his gold medal. REUTERS/Dominic Ebenbichler/File Photo

April 15, 2019

LONDON (Reuters) – Olympic 100 meters breaststroke champion Adam Peaty has ruled out adding the 200 meters to his schedule at next year’s Tokyo Games.

The Briton had talked about possibly targeting two individual medals by adding the longer distance but told the BBC on Monday he had decided against.

“I want to focus on pushing the boundaries in the 100m,” said the 24-year-old breaststroke specialist ahead of the British swimming championships that start in Glasgow on Tuesday.

“If you look at the 200m swimmers they’re all kind of skinny and long in their stroke and I’m the complete opposite. I’m quite muscly and have a short stroke,” he added.

Peaty holds the world record in both the 50 and 100m breaststroke but the shorter distance is not on the Olympic program.

He has spoken in the past about “Project 56” – the challenge to beat the world record of 57.10 seconds he set at the European championships in Glasgow last August and take the time below 57 seconds.

“I’ve changed my mindset and don’t really talk about ‘Project 56’ now, but it’s looking nice,” he told the BBC. “I’m pleased with the progress, so that progress will show at the World Championships or Olympics.”

The 2019 world aquatics championships are in Gwangju, South Korea, in July.

(Reporting by Alan Baldwin, editing by Ed Osmond)

Source: OANN

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Lawrence Jones responds to critics who mocked him for wearing bulletproof vest at US-Mexico border

Fox News contributor Lawrence Jones recently took some flak from critics on social media after posting a photo of himself wearing a bulletproof vest while reporting from the U.S.-Mexico border.

On Thursday night, Jones responded to those critics during an appearance on Fox News' "Hannity."

“They don’t know that the Border Patrol agent that’s standing right here and keeping us safe told me to put it on to keep us safe here,” Jones told host Sean Hannity, referring to the critics. “What people don’t understand is we control this side of the border, but the cartel controls the other side of the border. So there’s been gunfights. I’m going in danger with these Border Patrol agents to report on this story.

"What people don’t understand is we control this side of the border, but the cartel controls the other side of the border. So there’s been gunfights."

— Lawrence Jones, Fox News contributor

"The public doesn’t know," Jones continued, "that over the last two-and-a-half years, there has been an uptick, over 200 percent of violence against these agents. And so in order to do my job, in order for the border agents to do their jobs, I have to come with this vest that they supply.”

TRUMP GIVES MEXICO A 'ONE-YEAR WARNING' TO STOP DRUGS, MIGRANTS OR HE WILL TAX CARS AND CLOSE BORDER

Jones reported that the Border Patrol agents he followed caught two Chinese nationals who allegedly paid a drug cartel $15,000 to $20,000 to make the trip toward the border. He added that the agents typically work without backup support, potentially placing themselves at risk if a gunfight breaks out.

“This is why we need the border wall system," Jones said, referring to President Trump's security proposal. "Not only the wall but funding for the technology as well as more boots on the ground in order to help these guys."

Also part of the panel discussion on "Hannity" was U.S. Rep. Dan Crenshaw, R-Texas, who called on Congress to reform the nation's asylum laws, through which foreign nationals can request entry to the U.S. by claiming political persecution or another form of hardship.

CLICK HERE TO GET THE FOX NEWS APP

“We should not be accepting asylum in between ports of entry because it’s clearly being taken advantage of," Crenshaw said. "This is the step we have to take on this.

"This would have dramatic effect, by the way," Crenshaw continued. "Drug cartels have complete operational control of the Mexican side of the southern border. They’re making a killing off of this. They ask that people running across pay them money. Those people should not have to pay them money. They should go to the port of entry and actually claim [asylum].”

Crenshaw also told Hannity that he’s willing to support emergency funding for extra detention facilities and immigration judges to process asylum cases quickly.

Source: Fox News Politics

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FILE PHOTO: An aerial photo looking north shows shipping containers at the Port of Seattle and the Elliott Bay waterfront in Seattle
FILE PHOTO: An aerial photo looking north shows shipping containers at the Port of Seattle and the Elliott Bay waterfront in Seattle, Washington, U.S. March 21, 2019. REUTERS/Lindsey Wasson/File Photo

April 26, 2019

NEW YORK (Reuters) – U.S. economic growth is running at a 1.1% pace in the second quarter as the gains in exports and inventories recorded in the first quarter are expected to reverse, Morgan Stanley economists said on Friday.

“Our preliminary expectations for growth in the second quarter sees large drags from net exports and inventories after their contributions in 1Q,” they wrote in a research note.

Gross domestic product increased at a 3.2% annualized rate in the first three months of the year, driven by a smaller trade deficit and the largest accumulation of unsold merchandise since 2015, the Commerce Department said earlier Friday.

(Reporting by Richard Leong)

Source: OANN

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FILE PHOTO: The Deutsche Bank headquarters are pictured in Frankfurt
FILE PHOTO: The Deutsche Bank headquarters are pictured in Frankfurt, Germany, April 25, 2019. REUTERS/Ralph Orlowski/File Photo

April 26, 2019

By Tom Sims

FRANKFURT (Reuters) – Within hours of the collapse of merger talks with Commerzbank, Christian Sewing scrambled to convince investors and employees that Deutsche Bank can stand on its own two feet.

The Deutsche Bank chief executive told staff, many of whom opposed a merger because of significant job losses, that while he had not been “skeptical” about the Commerzbank talks, he was cautious about the chances of success from the start.

And another top Deutsche Bank executive said on Friday that it had been Commerzbank that initiated the talks, suggesting there was no desperation on their part for a deal.

Commerzbank denied that version of events, ending the apparent truce between the normally highly competitive cross-town Frankfurt rivals over the past six weeks.

German hopes of creating a national banking champion able to challenge global competitors were finally dashed on Thursday when Deutsche Bank and Commerzbank ended their talks due to the risks of doing a deal, restructuring costs and capital demands.

For Sewing, the failure to clinch a deal has left the 49-year-old chief executive of Germany’s largest bank, who took over just over a year ago, with his back to the wall.

Credit ratings agency Standard & Poor’s, which downgraded Deutsche Bank last year, said on Friday that Deutsche Bank “will remain under strain”, adding that it “seems to have acknowledged the need to adjust its strategy”.

Under Sewing, a new leadership has tried to revive Deutsche Bank’s fortunes, but it has faced money laundering allegations and failed stress tests, as well as ratings downgrades.

At the heart of the debate over its future is whether it should focus its business on Germany and draw a line under its costly global ambitions to take on Wall Street’s big guns.

“MARKET PLAY”

Without a deal, Deutsche Bank now finds itself back at the mercy of equity and debt markets, with UBS analysts warning that in a “stress scenario” it could again “be forced into a ‘debt-driven capital increase’ even with solid capital ratios”.

“Deutsche remains a levered market play vulnerable to external events,” the UBS analysts said in a note.

Sewing, along with many analysts, believes Deutsche Bank can go it alone in the short-term, but will be counting on a turnaround in market conditions to do so in the long-run given its dependence on volatile investment bank earnings.

“To reach our return objective, we also need to see a revenue recovery in our more market-sensitive business,” Sewing said on Friday after reporting results.

“These revenues are available to us in better market conditions given our leading positions in many of these businesses, but we need to capture them,” he added.

Revenue at Deutsche Bank’s bond trading division fell 19 percent in the first quarter, it said on Friday, underscoring weakness at its investment bank.

If those earnings do not improve, Berlin’s desire to keep its biggest bank out of foreign hands may start to wane.

“Germany’s globally active companies need competitive financial institutions that can support them around the world,” German finance minister Olaf Scholz said on Thursday.

(Writing by Alexander Smith; Editing by Keith Weir)

Source: OANN

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Panama's former president Ricardo Martinelli yells to the media while arriving to the Electoral Court in Panama City
Panama’s former president Ricardo Martinelli reacts to the media while arriving to the Electoral Court in Panama City, Panama April 26, 2019. REUTERS/Erick Marciscano

April 26, 2019

PANAMA CITY (Reuters) – Panama’s electoral tribunal has ruled that former President Ricardo Martinelli, who is awaiting trial on wiretapping charges, cannot take part in elections on May 5 in which he was running for mayor of Panama City and a seat in Congress, a spokesman for Martinelli said on Friday.

“The ruling of the electoral tribunal has disqualified him as candidate,” said the spokesman, Eduardo Camacho, calling the court’s ruling a “political decision.”

Officials at the tribunal did not immediately confirm the ruling, which also was reported in local media in Panama.

Martinelli, a supermarket tycoon who ran the Central American country from 2009 to 2014, was extradited to Panama last June from the United States and charged with spying on 150 people, including politicians, union leaders and journalists.

A judge had previously cleared Martinelli to run for mayor of the capital. His critics vowed to appeal that decision.

(Reporting by Elida Moreno and Stefanie Eschenbacher; Editing by Bill Trott)

Source: OANN

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FILE PHOTO: Amazon boxes are seen stacked for delivery in the Manhattan borough of New York City
FILE PHOTO: Amazon boxes are seen stacked for delivery in the Manhattan borough of New York City, January 29, 2016. REUTERS/Mike Segar/File Photo

April 26, 2019

(Reuters) – Shares of Walmart, Target and other U.S. retailers fell on Friday as Amazon.com Inc unveiled a one-day delivery plan for its Prime members in a move to further disrupt the fiercely competitive retail landscape.

The e-commerce giant’s announcement on Thursday could cause other brands, manufacturers, retailers, and logistics companies to have to invest more aggressively to compete with Amazon and its delivery, analysts said.

Retailers in recent years have poured billions into ecommerce and faster shipping options and are trying to close the gap with Amazon.

“This is about making it more expensive to catch up and affirms our world view that only the largest and smartest will survive,” Bernstein analyst Brandon Fletcher said.

The move is expected to heighten consumer expectations on e-commerce delivery just like Amazon did with its two-day shipping option for members of its loyalty club Prime, noted analysts.

“The faster you ship, the more people buy,” RBC Capital Markets analyst Mark Mahaney said.

The challenge for non-Amazon players was that very few of the existing logistics and parcel delivery players now have the ability to do nationwide one-day delivery, Morgan Stanley analyst Brian Nowak said.

“And even fewer can do it at the vast scale and reasonable cost that AMZN would need for Prime delivery,” Nowak said in a note.

Walmart Inc’s shares fell about 3 percent, while Target Corp dropped about 5 percent in morning trade.

Shares of Kohl’s Corp, Macy’s Inc and Nordstrom Inc fell about 1 percent. Grocer Kroger Co was nearly 3 percent lower, while consumer electronics retailer Best Buy Inc dropped 2.1 percent.

(Reporting by Soundarya J and Akanksha Rana in Bengaluru; Editing by Maju Samuel)

Source: OANN

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A Chinese woman adjusts a Chinese national flag next to U.S. national flags before a Strategic Dialogue expanded meeting, part of the U.S.-China Strategic and Economic Dialogue (S&ED) in Beijing
A Chinese woman adjusts a Chinese national flag next to U.S. national flags before a Strategic Dialogue expanded meeting, part of the U.S.-China Strategic and Economic Dialogue (S&ED) held at the Diaoyutai State Guesthouse in Beijing, July 10, 2014. REUTERS/Ng Han Guan/Pool (CHINA – Tags: POLITICS BUSINESS)

April 26, 2019

By April Joyner

NEW YORK (Reuters) – Even as the lift from optimism over prospects for U.S.-China trade detente shows signs of wearing off for the wider U.S. stock market, upbeat sentiment around China’s economy could bolster shares of materials companies.

Shares of S&P 500 industrial and technology companies, which were buffeted by last year’s tit-for-tat tariffs as well as slowing global demand, have been very responsive to progress in U.S.-China trade relations and a strengthening Chinese economy. This year, those sectors have outpaced the ascent in the S&P 500, which reached a record closing high on Tuesday.

Materials stocks have not been as sensitive, however, even though they also stand to benefit as a stronger Chinese economy lifts global consumption and industrial output. As China has taken measures to stimulate its economy, its economic data have turned more upbeat. That in turn could aid global growth, which has flagged as a result of China’s cooldown.

“What we’re seeing is China spending more on stimulus: fiscal stimulus and monetary stimulus,” said Kristina Hooper, chief global market strategist at Invesco in New York. “That’s likely to be a positive for materials.”

The People’s Bank of China has cut banks’ reserve requirement ratio five times over the past year and is widely expected to ease policy further to spur lending and reduce borrowing costs. The stimulus appears to have boosted Chinese economic data, with factory activity growing in March for the first time in four months.

Yet so far in 2019, the S&P 500 materials index has underperformed the S&P 500 at large, rising just 11.9% compared with 16.7% for the benchmark index. Moreover, it is among the biggest decliners in the period since the S&P’s previous record closing level on Sept. 20. The materials index has fallen 7% over those seven months, versus a 5.2% gain for technology and a 3% loss for industrials. Only the energy index has dropped more over that period.

A trade agreement could serve as a catalyst for a bump in materials shares as a drag on China’s economy is lifted, some market strategists say. Some commodity prices, including those for copper and oil, have ascended this year as the prospects for the global economy have somewhat brightened.

“It all goes back to the global growth outlook,” said Andrea DiCenso, portfolio manager for alpha strategies at Loomis Sayles in Boston. “With the front run in hard data, we’re beginning to see a pretty significant rally.”

Additionally, a trade agreement is expected to include commitments from China to purchase higher quantities of U.S. products such as soybeans, which could benefit companies that make agricultural chemicals, including DowDuPont Inc and CF Industries Holdings Inc.

CF Industries is scheduled to report quarterly results after the bell on Wednesday, and DowDuPont is scheduled to report before the market open on Thursday.

To be sure, even with a trade agreement, some materials companies could face price pressures. Shares of Freeport-McMoRan Inc fell 10.1% on Thursday after the copper mining company posted a lower-than-expected profit as its production slipped and its costs rose.

A rollback of tariffs on Chinese imports, particularly aluminum and steel, would likely prompt a fall in some commodity prices, which could hurt prospects for certain materials companies, said Gene Goldman, chief investment officer at Cetera Investment Management in El Segundo, California.

Even so, those drawbacks may be outweighed by the support for global demand fostered by a U.S.-China trade agreement.

“You could see a number of companies with lowered expectations bring them back up as they talk favorably about the impact that a trade deal would have on them,” said Tim Ghriskey, chief investment strategist at Inverness Counsel in New York.

(Reporting by April Joyner; additional reporting by Sinéad Carew; editing by Jonathan Oatis)

Source: OANN

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