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Japan to name new era for soon-to-be emperor Naruhito

Japan's government is holding top-secret meetings to decide a new era name for soon-to-be-emperor Naruhito, the crown prince who will succeed the Chrysanthemum throne from his father May 1.

Emperor Akihito is abdicating on April 30, with his era of "Heisei" coming to an end.

Prime Minister Shinzo Abe's government later Monday will unveil the era name, or "gengo," for Naruhito's reign.

It comes a month ahead of the switch to allow the government, businesses and other sectors time to adjust to the change that still affects many parts of Japan's society, even though the system is not compulsory and the emperor has no political power under Japan's postwar constitution.

Under the 1979 era name law, Abe has appointed a panel of experts on classical Chinese and Japanese literature to nominate two to five names for top officials to choose from. The names must meet the strict criteria — easy to read and write but not commonly or previously used for an era name.

Japanese media have scrambled to get scoops out of a new era name. Rumors included "Ankyu," which uses the same Chinese character as in Abe's family name, though it is unlikely to be the choice.

The name selection procedure started in mid-March when Chief Cabinet Secretary Yoshihide Suga asked a handful of unidentified scholars to nominate two to five era names each. Suga hasn't made clear how he will present the new name, but hinted he may follow his late predecessor Keizo Obuchi, who is remembered for holding up framed calligraphy of "Heisei" in 1989 at the first televised announcement of an era name.

While a growing number of Japanese prefer the Western calendar over the Japanese system in a highly digitalized and globalized society, the era name is still widely used in government and business documents. Elders often use it to identify their generations.

Discussing and guessing new era names in advance is not considered a taboo this time because Akihito is abdicating. Era name change is also a time for many Japanese to reflect on the outgoing and incoming decades.

Akihito's era of "Heisei," which means "achieving peace," was the first without a war in Japan's modern history, but is also remembered as lost years of economic deflation and natural disasters.

Heisei was the first era name decided by the government under the postwar constitution, in which the emperor was stripped of political power and had no say over the choice. Still, the government, with its highly secretive and sensitive handling of the process, is underscoring that "the emperor has power in an invisible, subtle way," says Hirohito Suzuki, a Toyo University sociologist.

Era name changes are creating businesses for both the outgoing and the incoming. Anything dubbed "last of Heisei" attracts Akihito fans, while others are waiting to submit marriage certificates or filing other official registration until the new era starts. Analysts say the era change that expands the "golden week" holidays to 10 days on May 1 could buoy tourism and other recreational spending.

___

Follow Mari Yamaguchi at https://www.twitter.com/mariyamaguchi

Source: Fox News World

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Japan not to submit U.N. resolution condemning North Korean rights abuses

U.S. President Trump and Japan's Prime Minister Abe hold bilateral meeting on sidelines of 73rd session of the United Nations General Assembly in New York
FILE PHOTO: U.S. President Donald Trump and Japan's Prime Minister Shinzo Abe hold a bilateral meeting on the sidelines of the 73rd session of the United Nations General Assembly in New York, U.S., September 26, 2018. REUTERS/Carlos Barria

March 13, 2019

TOKYO (Reuters) – Japan has decided for the first time in years not to submit to the United Nations a joint resolution condemning North Korea’s human rights abuses, given U.S. efforts to end North Korea’s weapons program and other factors, Japan said on Wednesday.

Japan and the European Union have submitted a motion condemning North Korea’s rights record to the United Nations every year since 2008. North Korea has repeatedly rejected accusations of rights abuses.

“The decision was made taking into consideration various factors comprehensively, such as results of the summit meeting between the United States and North Korea and the situation of Japan’s abduction issue,” Chief Cabinet Secretary Yoshihide Suga told a news conference.

U.S. President Donald Trump and North Korean leader Kim Jong Un held their second summit last month on U.S. demands that North Korea dismantle its nuclear program in exchange for security guarantees and the lifting of sanctions.

But the talks in Vietnam broke down without agreement.

Staunch U.S. ally Japan is keeping a wary eye on the dialogue between the United States and North Korea amid concern a deal between those old foes could lead to a scaling back of U.S. commitments in East Asia.

Japan also worries that its crucial issue of the fate of its citizens abducted by North Korean agents will take a back seat to nuclear and missile issues in U.S.-North Korean talks.

Prime Minister Shinzo Abe said Trump had raised the issue of kidnapped Japanese citizens in his summit with Kim.

Abe has said Japan was committed to normalizing diplomatic relations with North Korea but several issues, including North Korea’s kidnapping of its citizens, must be resolved first.

North Korea admitted in 2002 it had kidnapped 13 Japanese in the 1970s and 1980s to train as spies, and five of them returned to Japan. Japan suspects that hundreds more may have been taken.

(Reporting by Kaori Kaneko; Editing by Robert Birsel)

Source: OANN

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Myanmar’s top court hears Reuters reporters’ appeal in official secrets case

Reuters journalist Wa Lone arrives at Insein court in Yangon
Reuters journalist Wa Lone arrives at Insein court in Yangon, Myanmar September 3, 2018. REUTERS/Ann Wang

April 11, 2019

By Simon Lewis

NAYPYITAW (Reuters) – Myanmar’s Supreme Court heard the appeal on Tuesday of two Reuters journalists imprisoned for breaking a colonial-era official secrets law, in a case that has raised questions about Myanmar’s progress towards democracy.

Reporters Wa Lone and Kyaw Soe Oo have spent more than 15 months in detention since they were arrested in December 2017, while investigating a massacre of Rohingya Muslim civilians involving Myanmar soldiers.

Law officer Ko Ko Maung, representing the government, said they had been found in possession of secret documents that could have harmed national security.

Outlining their grounds of appeal, the reporters’ lawyer, Khin Maung Zaw, cited lack of proof of a crime and evidence that the pair were set up by police. A policeman had told a lower court last year that officers had planted secret documents on the two reporters.

A district court judge in Yangon found the two journalists guilty under the Official Secrets Act last September and sentenced them to seven years in prison. The Yangon High Court rejected an earlier appeal in January.

Both remain separated from their young daughters. The wife of 32-year-old Wa Lone gave birth to their first child last year while Wa Lone was behind bars. Kyaw Soe Oo celebrated his 29th birthday in Yangon’s Insein jail this month.

The journalists were not present at Tuesday’s hearing, but their families had traveled to the capital Naypyitaw, about 370 km (230 miles) north of Yangon, to attend.

“We are expecting to reunite as a family as soon as possible,” Kyaw Soe Oo’s wife, Chit Su Win, told reporters outside the Supreme Court compound.

The reporters’ convictions were heavily criticized by press freedom advocates and Western diplomats, putting additional pressure on Myanmar leader Aung San Suu Kyi, the Nobel laureate who took power in 2016 amid a transition from military rule.

Suu Kyi said in September, the week after their conviction, that the reporters’ case had nothing to do with press freedom as the men had been jailed for handling official secrets, not because they were journalists.

“Myanmar’s Supreme Court has the opportunity to correct the serious miscarriage of justice inflicted on Wa Lone and Kyaw Soe Oo for the last 15 months,” Reuters Editor-in-Chief Stephen J. Adler said in a statement.

“They are honest, admirable journalists who did not break the law, and they should be freed as a matter of urgency.”

‘DANGEROUS FOR THE COUNTRY’

Khin Maung Zaw, the reporters’ lawyer, told the Supreme Court on Tuesday that the trial court had wrongly placed the burden of proof on the reporters, and the prosecution failed to prove they broke the official secrets act.

“The police planted the documents on Wa Lone and Kyaw Soe Oo so their investigation of the massacre would be stopped,” he said.

Before their arrest, Wa Lone and Kyaw Soe Oo had been working on a Reuters investigation into the killing of 10 Rohingya Muslim men and boys by security forces and Buddhist civilians in western Myanmar’s Rakhine State during an army crackdown that began in August 2017.

The operation sent more than 730,000 Rohingya fleeing to Bangladesh, according to United Nations estimates.

During eight months of hearings prior to their conviction, Wa Lone and Kyaw Soe Oo testified that two policemen they had not met before handed them papers rolled up in a newspaper during a meeting at a Yangon restaurant on Dec. 12, 2017. Almost immediately afterwards, they said, they were bundled into a car by plainclothes officers.

A police captain, Moe Yan Naing, testified that, prior to the restaurant meeting, a senior officer had ordered subordinates to plant documents on Wa Lone to “trap” the reporter.

Ko Ko Maung, the government law officer, told the Supreme Court the police officer the reporters said handed them the papers, Lance Corporal Naing Lin, had denied doing so. He said the reporters were caught holding secret documents at a routine traffic stop.

“If these documents were received by an opponent or enemy of Myanmar, it could be dangerous for the country,” he said.

Supreme Court Justice Soe Naing adjourned the case at the end of Tuesday’s hearing, without giving a date for a ruling.

(Additional reporting by Shoon Naing, Editing by Alex Richardson and Sam Holmes)

Source: OANN

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Women in Brazil earn 20.5 percent less than men: statistics agency

A seller displays hair extensions at a hair shop in a local market in Rio de Janeiro
A seller displays hair extensions at a hair shop in a local market in Rio de Janeiro November 17, 2012. REUTERS/Pilar Olivares

March 8, 2019

BRASILIA (Reuters) – Women in Brazil earned 20.5 percent less than men on average in 2018, statistics agency IBGE said on Friday, a narrower gap than the previous year but still wider than the industrialized world average.

Released on International Women’s Day, the figures showed that women between 25 and 49 years old earned an average monthly salary of 2,050 reais ($530) last year, equivalent to 79.5 percent of men’s average 2,579 reais.

This marks a gradual narrowing in recent years. In 2017 the gender pay gap was 21.7 percent, and five years ago it was 24.4 percent, according to IBGE figures.

The gap last year was narrower in younger age brackets. For workers aged between 25 and 29 years the average earnings gap was 13.1 percent, rising to 18.4 percent in the 30-39 year old bracket and 25.1 percent in the 40-49 year old bracket.

The only sector where women earned the same as men was in the armed forces and military police, IBGE data showed. Indeed, they earned 0.7 percent more, on average.

According to The Organization for Economic Cooperation and Development’s latest figures the median gender pay gap across 41 industrialized countries is 13.8 percent, and only six countries have a gap wider than 20 percent.

A World Economic Forum index published in January ranked Brazil 95 out of 149 countries in terms of gender pay equality.

(Reporting by Jamie McGeever; Editing by Susan Thomas)

Source: OANN

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Maine bill aimed at guaranteeing menstrual products for inmates 'not needed,' GOP lawmaker says

A Republican lawmaker in Maine on Friday argued that a bill to guarantee free tampons, pads and menstrual cups for state prison inmates was unnecessary — and warned against attempts to "micromanage" the criminal justice system.

Rep. Richard Pickett weighed in on the bill during a hearing last week. In a statement to Fox News on Thursday, Pickett said that “female inmates currently receive an unlimited supply of pads and tampons and are allowed extra showers and clothing in the event of an accident with heavy bleeding,” and that a bill enforcing that is “not needed.”

21-YEAR-OLD NEPALI WOMAN DIES IN 'MENSTRUATION HUT'

The bill states that females in correctional facilities have "a right to comprehensive access to menstrual products, including, but not limited to, sanitary pads, tampons and menstrual cups, provided without charge to the incarcerated person."

The lawmaker told Fox News that he “fully support[s] access to feminine hygiene products for female inmates,” but implied that the bill is part of an effort to “continue to micromanage the jail systems.”

“There’s availability to get what you need, if you want something different, at the commissary,” Pickett said of feminine hygiene products. “And quite frankly, and I don’t mean this in any disrespect, but the jail system, and the correction system, was never meant to be a country club.”

Democratic Rep. Charlotte Warren, who sponsored the bill, responded online to a report from the Maine Beacon, tweeting, "Having access to tampons has never made me feel like I'm hangin' at the Country Club."

Whitney Parrish, of the Maine Women's Lobby, on Friday voiced support for the bill, according to the news outlet. She detailed what happens to inmates who have their period while incarcerated.

“You’re given a limited supply of menstrual products per month, often of low quality due to cost saving, and when you run out, you’re out," Parrish said. "You may have no money to go to commissary, and if you do, you may have to weigh that purchase against other necessities, like making phone calls to your children or attorney. You are forced to make the impossible decision of constructing your own menstrual products, using anything from clothing or notebook paper in place of a tampon.”

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Pickett said that, “all but a couple of county jails” provides sanitary products to inmates.

“That is why I voted against the bill because it was not needed. If these products were not being supplied in an unlimited number I would have been the first one to vote in favor of the bill,” he said.

Source: Fox News Politics

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Goldman Sachs backs U.S. construction finance tech startup Rabbet

FILE PHOTO: The ticker symbol and logo for Goldman Sachs is displayed on a screen on the floor at the NYSE in New York
FILE PHOTO: The ticker symbol and logo for Goldman Sachs is displayed on a screen on the floor at the New York Stock Exchange (NYSE) in New York, U.S., December 18, 2018. REUTERS/Brendan McDermid/File Photo

February 20, 2019

By Anna Irrera

NEW YORK (Reuters) – Goldman Sachs Group Inc has backed Rabbet, a U.S. startup that develops software to help make construction finance more efficient, the companies said on Wednesday.

Other investors in the $8 million round include QED Investors and Camber Creek, the companies said.

Rabbet, formerly known as Contract Simply, will use the funding to further develop its platform and grow its software engineering and sales team, the company said.

Rabbet’s platform helps companies involved in construction finance — such as banks, developers, and contractors — digitize and view documents relevant to a deal. The process is currently heavily manual and paper-based, making it time consuming and prone to errors.

Rabbet’s technology uses machine learning to automatically find and extract key information from documents, in a format that can be more easily analyzed by the parties involved.

The Austin, Texas-based company says the platform enables lenders and developers to gather more insight from the information they have and transact faster than by emailing each other spreadsheets and PDFs.

“All this information is trapped in disconnected PDFs, spreadsheets, emails,” Will Mitchell, Rabbet’s chief executive and co-founder, said in an interview. “We want to focus on the efficiency, accuracy and transparency that software can bring to this complex industry.”

Goldman’s investment comes as banks and other large financial institutions increasingly turn to fintech startups for technology that can help them streamline some of their processes.

Mitchell said Goldman’s construction finance division was using Rabbet’s software.

“We firmly believe construction finance is going to be automated and brought out of its decades-old, paper-ridden process,” David Bell, managing director of Goldman Sachs’ construction group, said in an interview. “Rabbet is the only solution we’ve seen that can handle the complexity of this transition.”

(Reporting by Anna Irrera; Editing by Tom Brown)

Source: OANN

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A Humiliating Moment for the Washington Press Corps

TUCKER CARLSON, FOX NEWS: So after two years, here we are. It’s hard to believe any of it actually happened. Two years of unremitting, never-diminishing hysteria about Russia. A continuous wave of panic and superstition over unseen Slavic interference, all stoked by the very people we’re told are the most rational in our society. For two years, our capital city became a kind of massive CNN panel — a living monument to ignorance and dishonesty, where the loudest and dumbest invariably got the most attention. We just lived through two full years of that: screaming, threatening, surveillance, character assassination, loyalty tests, wild allegations of treason and spying and betrayal. Innocent people found themselves afraid to go to dinner, hesitant to send text messages or talk on the phone. For two years we lived in an all-pervasive cult of personality. Our leaders worshipped a 74-year-old federal prosecutor who never spoke in public. He alone was good, they told us. Only they could interpret his will. It was all thoroughly bizarre. Demented really, though nobody said so at the time. They were too afraid. It seems like a dream now. Which of course it was. None of it was real. Nobody colluded with Vladimir Putin. Nobody changed vote totals. Or met secretly in Prague. Or had a pee tape. There never was a Russia conspiracy. Hillary Clinton wasn’t robbed by Julian Assange, or anyone else. She lost the election because she was an entitled boor who didn’t run on anything. In the end, that’s what Robert Mueller proved.

The news anchors couldn’t handle that conclusion. It was too far from what they’d promised their audiences for so long. They were too invested in the lies. When the report arrived in congress this morning, they found themselves reduced to huffing and sputtering. They couldn’t admit what was in it. Well, they told us, Robert Mueller “didn’t exonerate President Trump.” That may be true, but only theologically. Mueller doesn’t have the power to absolve sin. Only God can do that. But in every other sense, Mueller’s report was exculpatory. If dozens of federal prosecutors spent two years trying to charge you with a crime, and then decided they couldn’t, it would mean there wasn’t any real evidence you did it. That’s what happened here. You may not like Donald Trump, but that’s what we learned from the Mueller Report. You’d have to be a mindless partisan to deny it. A lot of news anchors turn out to be mindless partisans. When the facts contravene the interests of their party, they deny the facts, and then attack anyone who persists in stating the obvious. Suddenly the very same people who lied to you for two years about Russia are demanding that, under no circumstances, are you allowed to believe anything that Attorney General Bill Barr might say. Sure, Barr looks like a conventional Republican, being a Jeb Bush donor and everything. Yes, he would appear to be a close personal friend of Robert Mueller’s. But it’s all a ruse. Barr is in fact a Putin stooge like all the rest:

JEFFREY TOOBIN: If you just look at his behavior, it is not that of a geriatric, it is that of a partisan

CHRIS MATTHEWS: This looks like an inside job.

MSNBC guest Elie Mystal: We should not take anything that Barr says tomorrow as anything other than performative.

CHRIS CUOMO: Is Barr the President's new fixer? The answer to that seems to be yes.

NICOLLE WALLACE: He becomes to first cabinet secretary to plunge into the deep end of Trump’s conspiracy pool.

It’s an inside job. That’s the reigning assumption. Somehow Bill Barr is preventing Robert Mueller from concluding that Donald Trump colluding with Vladimir Putin. How is Barr doing that? It’s not clear, but they’re no less certain that he is. Michelle Goldberg of The New York Times announced that Barr’s press conference this morning marked America’s transformation into a, quote, “authoritarian junta.” Her colleague, Maggie Haberman, suggested Trump might be a Nazi, because the White House played a song from The Sound of Music — which by the way, is an anti-Nazi musical. But still Germanic-sounding, and therefore suspicious. These are hysterical children. They shouldn’t be in journalism. But they are. They run journalism. They have no plans on giving up their power.

The Mueller Report may be the single most humiliating thing that’s ever happened to the White House press corps in the history of this country. How did reporters in Washington respond? They celebrated themselves. Over on CNN, former Obama official Jim Sciutto bragged that Mueller had quote “debunked” all of Trump’s unfair attacks on the media. At the Washington Post, Philip Bump was telling us that quote, “the vast amount of reporting” on Russia was accurate.

Even they don’t really believe this. They know they lied. Buzzfeed claimed its reporters has personally seen evidence that Michael Cohen had been instructed but Donald Trump to perjure himself. The editor of Buzzfeed defended that story extensively, including on this show. Now we know it was a lie. That and so much more. So what happens now? What do we do with John Brennan and Jim Clapper? They used to run powerful intelligence agencies. For the past two years, they’ve gotten rich from talking about Russia on television. The only problem is, they were lying:

O'DONNELL: What makes you believe that he has more indictments?

BRENNAN: Because he hasn't addressed the issues related to criminal conspiracy as well as individuals --

O'DONNELL: A criminal conspiracy involving the Russians?

BRENNAN: Yes yeah.

CLAPPER: Is there influence whether witting on unwitting by the Russians over President Trump. And in the intervening year and a half or so, you know, his behavior hasn't done much at least in my mind to allay that concern.

So do Clapper and Brendan get to keep their cable TV contracts? Probably. In decadent societies, the guilty aren’t punished. Only the unpopular are. Over on the other channels, they’re talking about Trump tonight, not themselves. The line they’re quoting most is from today’s report. It’s Trump’s response when he first learned there was going to be a special counsel investigation. “Oh my God,” he said. “This is terrible. This is the end of my Presidency. I’m effed.”

As it turns out, Trump was wrong on the specifics. He never got indicted. Mueller didn’t drive him from office. But, as usual, Trump’s instincts were clearer. In fact, dead on: In the ways that matter most, the Russia hoax did sabotage his presidency. Mueller’s investigation ended critical momentum from the 2016 election almost immediately. Lawmakers, including a shamefully large number of Republicans, were much happier to talk about Russia than about changing the status quo in Washington, which is what Trump ran on. So they talked about Russia. The result: an election that should have realigned the country, had almost no effect. Two years later, virtually nothing has changed. Millions are still flood over our border from the third world, encouraged by an army of non-profits that instruct them to subvert our laws. The opioid epidemic rages on, as horrible as ever. Suicides are up. Troops are still bogged down in Afghanistan and Syria. Goldman Sachs still controls our economy. Tech companies are still spying on you and crushing your freedom of speech. You can still have your life ruined for supporting the wrong candidate, or believing there are two genders. Most ominous of all, Americans are still dying younger and having fewer children. None of this was resolved. It was never even talked about. The Russia investigation didn’t destroy Trump. But it did a lot to destroy America.

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The headquarters of Wirecard AG is seen in Aschheim near Munich
FILE PHOTO: The headquarters of Wirecard AG, an independent provider of outsourcing and white label solutions for electronic payment transactions is seen in Aschheim near Munich, Germany April 25, 2019. REUTERS/Michael Dalder

April 26, 2019

BERLIN (Reuters) – Wulf Matthias will not stand for a second term as Wirecard’s chairman in 2020, German daily Handelsblatt said on Friday, citing sources in the financial industry.

For age reasons alone this would not be an option for Matthias, aged 75, Handelsblatt added.

Matthias will keep his mandate until it ends in 2020, the paper quoted a company spokeswoman as saying.

Wirecard was not immediately available for comment when contacted by Reuters.

(Reporting by Tassilo Hummel; Editing by Thomas Seythal)

Source: OANN

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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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