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Merck KGaA agrees $6.5 billion takeover of Versum

FILE PHOTO: FILE PHOTO: A logo of drugs and chemicals group Merck KGaA is pictured in Darmstadt
FILE PHOTO: A logo of drugs and chemicals group Merck KGaA is pictured in Darmstadt, Germany January 28, 2016. REUTERS/Ralph Orlowski/File Photo

April 12, 2019

FRANKFURT (Reuters) – Germany’s Merck KGaA said it signed a takeover agreement with target Versum Materials for a price of $53 per share after Versum walked away from a prior merger agreement with rival Entegris.

Merck is targeting 75 million euros ($85 million) in run-rate synergies by the third full year after closing of the deal, which it expects in the second half of 2019, it said in a statement on Friday.

Including about $700 million in assumed Versum debt and based on about 109 million shares, Merck’s bid translates into a overall price tag of close to $6.5 billion.

(Reporting by Ludwig Burger; editing by Thomas Seythal)

Source: OANN

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Elizabeth Warren defends capitalism as 'force for good,' splitting with Ocasio-Cortez

Elizabeth Warren has come to the defense of capitalism … sort of.

Sen. Warren, D-Mass., agreed that capitalism historically has been a “force for good” during an interview Wednesday on MSNBC’s “Morning Joe.”

The 2020 presidential candidate also referred to herself as a capitalist “down to [her] bones,” before saying regulations must be in place to make the system run smoothly.

“I believe in markets, I see the benefits that markets can produce,” she said. “When there's a cop on the beat, those markets start to work again."

CRITICS POUNCE AS WARREN SAYS SHE HAS 'ZERO' SYMPATHY FOR PARENTS IN COLLEGE ADMISSIONS BRIBE SCANDAL

"Banks, in that case, are forced to develop their profit models, not on cheating people, but on actually offering a better product.”

Warren added: “I think it also, when it doesn't work, it's been a force for bad, but that's been true of every form of government that we can identify. We've gotten it right sometimes, and we've gotten it wrong sometimes. When you let markets work with rules and with people on the beat to enforce those rules, we can produce a lot of wealth in this country.”

The Massachusetts Democrat’s comments run counter to some remarks made by members of her party recently, including Rep. Alexandria Ocasio-Cortez, D-N.Y.

Speaking at the SXSW conference last weekend, Ocasio-Cortez slammed capitalism as “irredeemable”.

SANDERS SAYS HIS IDEAS ARE NOW BEING INVOKED BY DEM CANDIDATES 'FROM SCHOOL BOARD TO PRESIDENT'

Sen. Elizabeth Warren, D-Mass., officially announced her 2020 presidential bid on Feb. 9.

Sen. Elizabeth Warren, D-Mass., officially announced her 2020 presidential bid on Feb. 9. (AP)

“The most important thing is the concentration of capital and it means that we seek and prioritize profit and the accumulation of money above all else and we seek it at any human and environmental cost. That is what that means. To me that ideology is not sustainable and cannot be redeemed,” she said.

”What we are reckoning with are the consequences of putting profit above everything else in society.”

The recent rise and dominance of a hard-left faction in the Democratic Party has opened the door for conservatives to sound warnings that the party is lurching toward "socialism."

TRUMP SLAMS DEMOCRATS FOR CAMPAIGNING ON 'SEDUCTIVE' SOCIALIST POLICIES

President Trump, in a new interview, tore into Democrats for campaigning on what he called “seductive” socialist policies despite potentially dire consequences.

“You always have to be very careful, because socialism is easy to campaign on but tough to govern on, because the country goes down the tubes,” Trump told conservative website Breitbart.

'PAWN STARS' HOST RICK HARRISON SLAMS SOCIALISM: 'THERE'S NO POINT IN WORKING HARD'

“But when you tell people free medical, free education, no more student loans—all of the different things that you say—it’s a great thing to campaign on, but then ten years later the country is down the tubes. It’s gone.”

The president then suggested the 2020 election could come down to a “referendum on socialism versus capitalism,” according to the website.

Trump’s remarks come shortly after Vice President Pence accused Democrats of openly advocating for socialism with policies such as "Medicare-for-all" and the Green New Deal -- a system he said had “impoverished millions of people around the world.”

Speaking at the Conservative Political Action Conference earlier this month, Pence said: “Under the guise of Medicare-for-all and a Green New Deal, Democrats are embracing the same tired economic theories that have impoverished nations and stifled the liberties of millions over the past century.

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“That system is socialism.”

Fox News' Adam Shaw contributed to this report.

Source: Fox News Politics

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Study: Visiting Urban Parks Makes You Happier

Researchers from the University of Alabama at Birmingham Department of Occupational Therapy have published new findings that suggest spending 20 minutes in an urban park will make someone happier regardless of whether they are engaging in exercise or not during the visit.

According to the study, published in International Journal of Environmental Health Research, urban parks have been recognized as key neighborhood places that provide residents with opportunities to experience nature and engage in various activities. Through contact with the natural environment and engagement in health-promoting and/or social and recreational activities in parks, users experience physical and mental health benefits such as stress reduction and recovery from mental fatigue.

Libertarians reveal their goal showing that simple services can be run on a voluntary basis, rather than through the coercion of government.

Principle investigator Hon K. Yuen, Ph.D., OTR/L, professor in the UAB Department of Occupational Therapy, said the original intent of the project was to validate previous research findings on the impact of park visit on emotional well-being, and evaluate the contribution of choosing to participate in physical activity in the park in relation to emotional well-being after the park visit.

“Overall, we found park visitors reported an improvement in emotional well-being after the park visit,” said Yuen. “However, we did not find levels of physical activity are related to improved emotional well-being. Instead, we found time spent in the park is related to improved emotional well-being.”

Co-author and chair of the department Gavin R. Jenkins, Ph.D., OTR/L, said this means that potentially all people can benefit from time in a park. If you cannot be physically active due to aging, a disability or any other limitations, the study implies a person can still gain health benefits just from a visit to a local park.

Participants of the study were adult visitors to one of the three urban parks — Overton, Jemison and Cahaba River Walk Parks — in Mountain Brook, Alabama. Data were collected from 98 adult park visitors; four visitors reported that they participated in this study twice. Data from the second participation were excluded, resulting in 94 unique participants participating in the study. These parks were selected for the study because they were the three main public parks in Mountain Brook and had a relatively high volume of visitors daily.

Yuen said several limitations of the study included the lack of objective data to measure emotional health and confining the study to just three urban parks in a six-month data collection period.

(Photo by Phil Dolby, Flickr)

Although a small study, Jenkins said the significance of these findings helps reinforce the need for more urban parks and the conservation of those that already exist.

“There is increasing pressure on green space within urban settings,” said Jenkins. “Planners and developers look to replace green space with residential and commercial property. The challenge facing cities is that there is increasing evidence about the value of city parks but we continue to see the demise of these spaces.”

Alex points out the indoctrination being pushed on minorities that they cannot be racist.

Source: InfoWars

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Thousands of protesters back in Algeria’s streets, demanding radical reform

Students take part in a protest seeking the departure of the ruling elite in Algiers
FILE PHOTO: Students take part in a protest seeking the departure of the ruling elite in Algiers, Algeria April 16, 2019. REUTERS/Ramzi Boudina

April 19, 2019

ALGIERS (Reuters) – – Thousands of demonstrators returned to Algeria’s streets on Friday to press demands for wholesale democratic change well beyond former president Abdelaziz Bouteflika’s resignation after six weeks of mass protests, witnesses said.

Parliament named an interim president and a July 4 election date was set in a transition the powerful military endorsed. But Bouteflika’s April 2 exit failed to placate many Algerians who want to topple the entire, largely elderly elite that have dominated the country since independence from France in 1962.

Thousands of protesters gathered anew in city centers around Algeria demanding root-and-branch reforms – including political pluralism and crackdowns on corruption and cronyism, witnesses said, and more were expected after Friday prayers.

On Tuesday, army chief said Lieutenant-General Ahmed Gaed Salah said the military was considering all options to resolve the national political crisis and warned “time is running out”.

It was a hint that the military was losing patience with the popular upheaval shaking Algeria, a major oil and natural-gas exporter and a key security partner for the West against Islamist militants in north and west Africa.

Salah did not specify what measures the army could take but added: “We have no ambition but to protect our nation.”

The army has so far patiently monitored the mostly peaceful protests that at times swelled to hundreds of thousands of people. It remains the most powerful institution in Algeria, having swayed politics from the shadows for decades.

Protesters want a clean break with “le pouvoir”, or secretive establishment – veterans of the war of independence against France, the ruling National Liberation Front (FLN) party and associated oligarchs – and sweeping reforms.

(Reporting by Lamine Chikhi and Hamid Pulf Ahmed; Writing by Ulf Laessing; Editing by Mark Heinrich)

Source: OANN

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Fearing Brexit, protesters gather along Irish border

Sign is placed at the border crossing between the Republic of Ireland and Northern Ireland in Carrickcarnon
A sign is placed at the border crossing between the Republic of Ireland and Northern Ireland in Carrickcarnon, Ireland March 30. 2019. REUTERS/Clodagh Kilcoyne

March 31, 2019

By Clodagh Kilcoyne

CARRICKCARNON, Ireland (Reuters) – Anti-Brexit campaigners protested at six different points of the border between Northern Ireland and Ireland on Saturday, fearing a return of customs checks could risk peace, jobs and their way of life.

The currently seamless 500 km (350 mile) border would be the United Kingdom’s only land frontier with the EU after Brexit and the question of how it is kept open has become a major hurdle in efforts to ensure the UK quits the bloc in an orderly fashion.

Organizers estimated more than 1,000 locals gathered from the northwest village of Bridgend to Carrickcarnon on the east coast, two of the more than 200 crossings that some 30,000 people cross each day for work.

“People are very concerned, they voted to remain (in the EU) here,” said John Sheridan, a farmer from the Border Communities Against Brexit group who led the protest in the Northern Ireland border village of Belcoo. “We feel like we’re going to be left behind again and have a border imposed on us.”

The group also held a candle-lit vigil across the border in the Irish village of Kiltyclogher at 2300 GMT on Friday, when Britain had been scheduled to leave the EU until its departure was extended by at least two weeks.

It has held other protests since the 2016 Brexit referendum and again erected mock customs checkpoints on Saturday, to demonstrate the disruption they could cause and the resistance their return would meet.

Britain, Ireland and the EU all say they want to avoid physical checks on the border, which was marked by military checkpoints before a 1998 peace deal ended three decades of violence costing around 3,600 lives.

But the backstop or insurance mechanism negotiated to exclude such checks has been resisted by some British lawmakers, who have on three occasions voted down the divorce deal negotiated by Prime Minister Theresa May.

Ireland’s European Affairs Minister Helen McEntee said on Saturday it would be very difficult to achieve the Irish government’s twin aims of keeping the border open and maintaining the integrity of the EU’s single market, if Britain leaves the bloc without a deal.

“But we are absolutely determined to do that,” McEntee told national broadcaster RTE. “We have always had the support of the EU and I don’t see that changing.”

(Writing by Padraic Halpin; Editing by David Holmes)

Source: OANN

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'Trigger' abortion bill clears Oklahoma Senate panel

Oklahoma would automatically ban abortions if the U.S. Supreme Court overturns its landmark 1973 ruling that legalized abortion nationwide under a bill that has cleared a Senate panel.

While abortion opponents chanted, prayed and sang hymns outside the committee room, the Senate Health and Human Services Committee voted 11-4 on Monday for the so-called "trigger" abortion ban . Similar bills already have passed in Arkansas, Louisiana, Mississippi, North Dakota and South Dakota.

Many of the abortion opponents were upset that a separate bill by Republican Sen. Joseph Silk to make abortion a felony crime was not granted a hearing.

Senate President Pro Tem Greg Treat described Silk's bill as a dangerous precedent by a state to ignore a U.S. Supreme Court ruling.

Source: Fox News National

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Exxon Mobil wins three exploration blocks offshore Argentina

FILE PHOTO: Logo of the Exxon Mobil Corp is seen at the Rio Oil and Gas Expo and Conference in Rio de Janeiro
FILE PHOTO: A logo of the Exxon Mobil Corp is seen at the Rio Oil and Gas Expo and Conference in Rio de Janeiro, Brazil September 24, 2018. REUTERS/Sergio Moraes/File Photo

April 16, 2019

(Reuters) – U.S. oil major Exxon Mobil Corp said on Tuesday its unit and an affiliate of Qatar Petroleum had won three exploration blocks offshore Argentina.

The three blocks will add about 2.6 million net acres to Exxon’s existing holdings in Argentina, the company said. The blocks are located in the Malvinas basin, about 200 miles (320 kms) offshore Tierra del Fuego.

Exxon’s existing Argentina holdings include 315,000 net acres spread over seven blocks in the onshore Neuquén Basin of the Vaca Muerta unconventional oilfield and a business support center in Buenos Aires.

ExxonMobil will have a 70 percent stake, while Qatar Petroleum’s affiliate will hold the rest.

The Argentine government issued a statement on Tuesday saying it received offers for the exploration of three offshore oil and gas basins from 13 companies for a total of $995 million. The country’s energy secretariat was expected to confirm which companies were awarded which areas next month.

Qatar Petroleum signed an agreement with Exxon Mobil in June to buy a 30 percent stake in two of Exxon’s affiliates in Argentina, giving Qatar’s state-owned entity access to oil and gas shale assets in the Latin American country.

Exxon has been investing heavily in its U.S. shale operations and in Guyana. Its development in Argentina has been slow due to several reasons, including the geographic remoteness of the country from U.S. shale operations as well as government controls on natural gas prices.

The U.S. oil company also invested in Brazil’s prolific offshore oilfields throughout 2018, clinching numerous blocks in partnership with other companies. Exxon and Qatar Petroleum International landed Brazil’s Tita area, locking in key real estate in the prized Santos basin.

The two companies have also partnered on three of Exxon’s offshore exploration blocks in Mozambique’s Angoche and Zambezi basins.

(Reporting by Shanti S Nair in Bengaluru, additional reporting by Eliana Raszewski in Buenos Aires; Editing by James Emmanuel and Dan Grebler)

Source: OANN

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FILE PHOTO: Shoppers walk past the Debenhams department store on Oxford Street in London
FILE PHOTO: Shoppers walk past the Debenhams department store on Oxford Street in London, Britain December 15, 2018. REUTERS/Simon Dawson

April 26, 2019

(Reuters) – Ailing British retailer Debenhams said two proposed company voluntary arrangements (CVA) could see all its stores remaining open during 2019, with 22 closures planned for next year, putting about 1,200 jobs at risk.

Debenhams’ lenders took control of the retailer earlier this month in a process designed to keep its shops open at the expense of shareholders.

(Reporting by Noor Zainab Hussain in Bengaluru; editing by Gopakumar Warrier)

Source: OANN

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FILE PHOTO: Xiaomi branding is seen on a carrier bag at a UK launch event in London
FILE PHOTO: Xiaomi branding is seen on a carrier bag at a UK launch event in London, Britain, November 8, 2018. REUTERS/Toby Melville

April 26, 2019

BENGALURU (Reuters) – Chinese brands controlled a record 66 percent of Indian smartphone market in the first quarter, led by Xiaomi Corp, a report showed, with volumes rising 20 percent on the back of popularity for brands like Vivo, RealMe and Oppo.

Xiaomi’s India shipments fell by 2 percent over last year, but the Beijing-based company was still the biggest smartphone brand in the country, followed by Samsung Electronics Co Ltd, according to Hong-Kong based Counterpoint Research.

Shipment volumes for Vivo jumped 119 percent, while those of Oppo rose 28 percent.

“Vivo’s expanding portfolio in the mid-tier range ($100 to $180) drove its growth along with aggressive Indian Premier League cricket campaign,” Counterpoint analysts said.

India is the world’s fastest growing market for smartphones, where affordable pricing coupled with features like “selfie” cameras and big screens have popularized Chinese brands.

Video streaming services like Netflix Inc and Hotstar, as well as heavy usage of messaging apps like Facebook Inc’s WhatsApp have further spurred demand.

“Data consumption is on the rise and users are upgrading their phones faster as compared to other regions,” Counterpoint’s Tarun Pathak said.

“As a result of this, the premium specs are now diffusing faster into the mid-tier price brands. We estimate this trend to continue leading to a competitive mid-tier segment in coming quarters.”

(Reporting By Arnab Paul in Bengaluru; Editing by Subhranshu Sahu)

Source: OANN

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Good morning and welcome to Fox News First. Here’s a look at what you need to know today …

EXCLUSIVE: Trump says ‘Sleepy Joe’ Biden doesn’t have what it takes

President Trump, in a wide-ranging, exclusive phone interview with Fox News’ Sean Hannity, dismissed the launch of former Vice President Joe Biden’s presidential campaign, nicknaming him “Sleepy Joe” and saying he’s “not the brightest bulb.” Biden, the president said, has name recognition but he won’t “be able to do the job.” When asked about Sen. Bernie Sanders, I-Vt., Trump criticized his record, saying Sanders had “misguided energy” and asserted that Sanders “talks a lot” but hasn’t accomplished anything. The president referred to former U.S. Rep. Beto O’Rourke of Texas as “a fluke” who had lost much momentum and outright dismissed Sen. Kamala Harris, D-Calif., and South Bend, Ind., Mayor Pete Buttigieg — although he said he was “rooting” for Buttigieg. (Trump could address Biden and the other Democratic presidential candidates when he speaks today before the National Rifle Association.)

The Democratic Party’s youth movement: Biden’s biggest challenge?
Former Democratic National Committee (DNC) chair Howard Dean warned Joe Biden about the troubles he may face in his presidential campaign, especially from the “35-year-olds” who Dean says have been running the party — a clear nod to Rep. Alexandria Ocasio-Cortez, D-N.Y., and fellow freshmen Democrats. “This is a very different party than even the party Joe Biden ran in in 2012. Very different,” Dean continued. “A lot of people could win this race. There’s 20 people in there. I think it’s going to take $20 million to get to the starting line. If you can’t raise $20 million, you’re gone, and I think that’s going to take care of about six or eight of these folks. … But it is not the same party that it was five years ago.” A progressive political group that boosted Ocasio-Cortez’s bid for Congress last year vowed to oppose Biden and blasted him as part of the “old guard.”

More tales from the FBI texts
Text messages between former FBI officials Peter Strzok and Lisa Page indicate they discussed using briefings to the Trump team after the 2016 election to identify people they could “develop for potential relationships,” track lines of questioning and “assess” changes in “demeanor” – language one GOP lawmaker called “more evidence” of irregular conduct in the original Russia probe. Fox News has learned the texts, initially released in 2018 by a Senate committee, are under renewed scrutiny, with GOP Sen. Chuck Grassley and Homeland Security Committee chair Ron Johnson sending a letter Thursday night to Attorney General Bill Barr pushing for more information on the matter. President Trump, speaking on Fox News’ “Hannity” Thursday night, responded to this report by accusing Strzok and Page of an attempted “coup.” “They were trying to infiltrate the administration,” he said.

Kim accuses US of acting in ‘bad faith’
North Korean leader Kim Jong Un, fresh off his summit with  Russian President Vladimir Putin, said the U.S. has been acting in “bad faith” since his Hanoi meeting with President Trump over the stalemated issue of North Korean denuclearization. The North Korean leader told the Korean Central News Agency that, “the situation on the Korean Peninsula and the region is now at a standstill and has reached a critical point,” the Straits Times of Singapore reported. Kim warned that the situation “may return to its original state as the U.S. took a unilateral attitude in bad faith at the recent second DPRK-US summit talks,” the Korean Central News Agency added.

NFL Draft 2019: It’s all about defense
The first round of the 2019 NFL Draft saw a run on defensive players, with eight of the top 12 picks in Nashville coming from that side of the ball. After Oklahoma quarterback Kyler Murray was taken first overall by the Arizona Cardinals, the San Francisco 49ers started a run of four straight front-seven players by taking Ohio State defensive end Nick Bosa with the second overall pick — the highest draft slot for any Buckeye since left tackle Orlando Pace went No. 1 overall to the St. Louis Rams in 1997.

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TODAY’S MUST-READS
Fox News’ Ed Henry recalls spending time with Celtics great John Havlicek.
Massachusetts judge accused of helping illegal immigrant evade ICE pleads not guilty.
Rosenstein slams Obama administration for choosing ‘not to publicize full story’ of Russia hacking.
F.H. Buckley: What Democrats have forgotten about citizenship.

MINDING YOUR BUSINESS
Amazon crushes earnings expectations, but revenue growth slows.
Low-tax states among best places to make a living in 2019.
Construction job market booming: These states are hiring.

#TheFlashback
2018: Bill Cosby is convicted of drugging and molesting Temple University employee Andrea Constand at his suburban Philadelphia mansion in 2004; it is the first big celebrity trial of the #MeToo era.
1986: An explosion and fire at the Chernobyl nuclear power plant in Ukraine causes radioactive fallout to spew into the atmosphere. (Dozens of people are killed in the immediate aftermath of the disaster while the long-term death toll from radiation poisoning is believed to number in the thousands.)
1977: Notorious nightclub Studio 54 opens in New York.

SOME PARTING WORDS

Watch the “Special Report” panel take a look at former Vice President Joe Biden’s decision to run for president a third time and the battle for the “soul” of America.

Not signed up yet for Fox News First? Click here to find out what you’re missing.

CLICK HERE to find out what’s on Fox News programming today and over the weekend!

Fox News First is compiled by Fox News’ Bryan Robinson. Thank you for joining us! Have a good day and weekend! We’ll see you in your inbox first thing Monday morning.

Source: Fox News National

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Joe Biden’s brain surgeon said his former patient is “totally in the clear” as speculation over the candidate’s health — with Biden possibly becoming the oldest president in U.S. history — is likely to become a campaign issue.

The former vice president, who had been perceived by many as the strongest potential contender for the Democratic Party’s 2020 presidential nomination, formally announced his candidacy Thursday.

But Biden’s age – 76 – is expected to become a source of attacks from a younger generation of Democrats not because of obvious generational differences, but possibly for actual health concerns if Biden gets into office.

WHY THE MEDIA ARE CONVINCED JOE BIDEN WILL IMPLODE

Biden himself agreed last year that “it’s totally legitimate” for people to ask questions about his health if he decides to run for president, given his medical history — which has included brain surgery in 1988.

“I think they’re gonna judge me on my vitality,” Biden told “CBS This Morning.” “Can I still run up the steps of Air Force Two? Am I still in good shape? Am I – do I have all my faculties? Am I energetic? I think it’s totally legitimate people ask those questions.”

“I think they’re gonna judge me on my vitality. …  I think it’s totally legitimate [that] people ask those questions.”

— Joe Biden

But Dr. Neal Kassell, the neurosurgeon who operated on Biden for an aneurysm three decades ago, told the Washington Examiner that Biden appears to be “totally in the clear” — and even joked that the operation made Biden “better than how he was.”

“Joe Biden of all of the politicians in Washington is the only one that I’m certain has a brain, because I have seen it,” Kassell said. “That’s more than I can say about all the other candidates or the incumbents.”

“Joe Biden of all of the politicians in Washington is the only one that I’m certain has a brain, because I have seen it.”

— Dr. Neal Kassell

BIDEN’S CLAIM HE DIDN’T WANT OBAMA TO ENDORSE TRIGGERS MOCKERY

At the same time, however, Biden hasn’t been forthcoming about his health at least since 2008 when he released his medical records as a vice presidential candidate. The disclosure that time revealed some fairly minor issues such as an irregular heartbeat in addition to detailing previous operations, including removing a benign polyp during a colonoscopy in 1996, the outlet reported.

It remains unclear if Biden had more aneurysms. Some medical experts say that people who have had an aneurysm can have another one.

An aneurysm, or a weakening of an artery wall, can lead to a rupture and internal bleeding, potentially placing a patient’s life in jeopardy.

Biden won’t be the only Democrat grappling with old age. Sen. Bernie Sanders, another 2020 frontrunner, is currently 77 years old and agreed with Biden last year that their ages will be an issue in the race.

“It’s part of a discussion, but it has to be part of an overall view of what somebody is and what somebody has accomplished,” Sanders told Politico.

“Look, you’ve got people who are 50 years of age who are not well, right? You’ve got people who are 90 years of age who are going to work every day, doing excellent work. And obviously, age is a factor. But it depends on the overall health and wellbeing of the individual.”

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Sanders released his medical records in 2016, with a Senate physician saying in a letter that the senator was “in overall very good health.”

Source: Fox News Politics

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German carmaker Daimler endured a weak start to the year, echoing troubles at other major manufacturers, as sales in the big Chinese market stuttered.

The company said Friday that its net income fell to 2.1 billion euros ($2.3 billion) in the first quarter from 2.3 billion euros during the same period a year earlier, while revenue dipped to 39.7 billion euros from 39.8 billion euros.

Vehicle sales fell 4% to 773,800 units, with a double-digit percentage drop in China offsetting gains in other markets like the U.S. and Europe.

The company said there were also problems with high inventories and bottlenecks in the supply chain.

Chairman Dieter Zetsche said that “we cannot and will not be satisfied with this — as expected — moderate start to the year.”

Source: Fox News World

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