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Thai March headline inflation rate seen quickening to 0.93 percent

A vendor sells snacks at a market in Bangkok
A vendor sells snacks at a market in Bangkok, Thailand March 31, 2016. REUTERS/Jorge Silva/File Photo

March 29, 2019

BANGKOK (Reuters) – Thailand’s annual headline inflation rate in March likely picked up from the previous month, but stayed below the central bank’s target range for a fifth straight month, a Reuters poll showed.

The median forecast of 11 economists was for the headline consumer price index (CPI) to rise 0.93 percent in March from a year earlier, after February’s 0.73 percent increase.

The Bank of Thailand (BOT) has forecast 2019 headline inflation of 1.0 percent, against its 1-4 percent target range.

According to the poll, the core inflation rate, which strips out energy and fresh food prices, was seen at 0.60 percent in March, the same as in February.

Last week, Thailand’s monetary policy committee(MPC) voted unanimously to leave the benchmark interest rate unchanged at 1.75 percent for a second straight review after raising it in December for the first time since 2011.

It will next review monetary policy on May 8.

(Reporting by Satawasin Staporncharnchai; Editing by Rashmi Aich)

Source: OANN

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Taiwan president denounces Chinese military ‘coercion’

Taiwanese President Tsai Ing-wen says Chinese attempts at what she calls military coercion only strengthen the resolve of the self-governing island republic to defend itself.

Tsai's comments Tuesday follow what the island's defense ministry called a major foray by Chinese military planes into airspace just south of the island on Monday.

That included bombers, fighter jets, and early warning and control aircraft.

Tsai told a security forum in Taipei that such actions "only serve to strengthen our resolve."

China's ruling Communist Party considers Taiwan its own territory, although it has never governed the island, which split from the mainland amid civil war in 1949.

Beijing cut ties with Tsai's government following her 2016 election and has been stepping up military threats and efforts to isolate Taipei diplomatically.

Source: Fox News World

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Bangladesh prime minister sees injured in deadly Dhaka fire

Bangladesh Prime Minister Sheikh Hasina has visited some of the injured in a devastating fire in the capital while investigators have found a huge stock of flammable materials stashed in the basement of the five-story building where the blaze began.

Hasina told reporters Saturday that she wants all the chemical warehouses removed from the oldest part of Dhaka, a cramped 400-year-old area.

At least 67 people died and 50 others were injured in the fire Wednesday that police say began in a five-story building.

Fire Service and Civil Defense deputy director Debashish Bardhan says investigators discovered the basement stock on Friday, and that the devastation could have been far worse.

Investigators haven't said yet what sparked the fire.

Source: Fox News World

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Karl Rove: No matter what Barr does, it will be ‘unacceptable’ to Democrats

Karl Rove has argued that no matter what Attorney General William Barr does, it will be “unacceptable” to Democrats.

Rove said that was made evident Tuesday when Barr was questioned by lawmakers on Capitol Hill about his handling of Special Counsel Robert Mueller's Russia report.

“I heard that no matter he does, it’s going to be unacceptable to members of the committee. I thought some of them were very pointed in their comments that they wanted everything and they would be unhappy if they received anything less than that and the law be darned,” Rove, the former Deputy Chief of Staff for George W. Bush and a current Fox News contributor, told “America’s Newsroom” Tuesday.

The heated hearing marked Barr’s first appearance before lawmakers on Capitol Hill since releasing his four-page memo on the key findings of Mueller's investigation into Russian interference in the 2016 election.

AG WILLIAM BARR TESTIFIES AT HOUSE HEARING, FIRST SINCE MUELLER REPORT MEMO RELEASE -- LIVE BLOG 

During the hearing, Barr vowed to release a redacted version of Mueller's Russia report "within a week," as he pushed back at Democrats blasting him for what they called his "unacceptable" handling of the initial summary of that document.

Barr said that he identified four areas of the report that he believed should be redacted, including grand jury material and information the intelligence community believes would reveal intelligence sources and methods. Barr maintained that he will make “as much information as possible available to Congress.”

“They (Democrats) didn’t care whether it was grand jury testimony or sources and methods. They wanted an unredacted report and then they would make up their minds as to what would be released and not released,” said Rove. “Barr made it very clear, he has to uphold the law and that there are grand jury testimonies, sources and methods and also some sense that we shouldn’t be trashing the reputation of people who were not charged or indicted or really consequential in the whole action.”

KENNETH STARR 'VERY PROUD' OF WILLIAM BARR'S HANDLING OF MUELLER REPORT

In a fiery opening statement, House Appropriations Committee Chairwoman Nita Lowey, D-N.Y., accused Barr of seeming to "cherry pick" from the report to "draw the most favorable conclusion possible for the president" in releasing the four-page summary last month on its findings.

Other Democrats made similar comments as Barr appeared before the House Appropriations Commerce, Justice, Science, and Related Agencies Subcommittee for a hearing originally meant to address Barr’s fiscal 2020 spending request for the Justice Department.

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“I think we are likely to see no surprises in this (Mueller report) and as a result, because it lacks surprises, we can expect some Democrats to be highly critical of the report,” said Rove.

Source: Fox News Politics

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The New World Order Has Selected Joe Biden As Its Presidential Candidate

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Source: InfoWars

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China’s policy stimulus may worsen economic distortions: OECD

FILE PHOTO: Employees work on the production line of a factory manufacturing fashion accessories in Sihong
FILE PHOTO: Employees work on the production line of a factory manufacturing fashion accessories in Sihong county, Jiangsu province, China March 27, 2019. REUTERS/Stringer

April 16, 2019

BEIJING (Reuters) – China’s stimulus measures will shore up economic growth this year and next but may undermine the country’s drive to control debt and worsen structural distortions over the medium term, the OECD said in a report on Tuesday.

Beijing has stepped up fiscal stimulus to prevent a sharper slowdown in the world’s second-largest economy, which is being squeezed by weaker domestic demand and a trade war with the United States.

Local governments will be allowed to issue 2.15 trillion yuan ($320.60 billion) worth of special purpose bonds in 2019 to fund infrastructure projects, a jump of 59 percent from last year.

But S&P Global Ratings estimated last year that local governments were already sitting on hidden debt that could be as high as 40 trillion yuan.

“Infrastructure stimulus could lift growth over the projection horizon, but it could lead to a further build-up of imbalances and capital misallocation, and thereby weaker growth in the medium term,” the OECD said in its latest survey on China’s economy.

“The stimulus risks increasing once again corporate sector indebtedness and, more generally, reversing progress in deleveraging,” it said.

China’s corporate debt has fallen to about 160 percent of gross domestic product (GDP) due to a multi-year clampdown on riskier types of financing and debt, but the level was still higher than in other major economies, the OECD said.

The government in March announced tax and fee cuts of 2 trillion yuan for companies this year, which will lift its budget deficit to 2.8 percent of GDP this year from 2.6 percent in 2018.

China’s fiscal stimulus could be as high as 4.25 percent of GDP this year, up from 2.94 percent in 2018, the OECD added.

Easier monetary policy should help reduce the risk of liquidity strains which could put further pressure on businesses, said Ludger Schuknecht, deputy secretary-general of the OECD.

But he said Beijing should prevent any policy “overshooting”.

Fiscal policy should aim to support the economy while avoiding any side-effects, he added.

“I’m sure government authorities and the PBOC are monitoring this carefully. It’s a matter of implementing it (stimulus) in the right way,” he told an event ahead of the release of the report.

New bank loans rebounded more than expected in March, and totaled a record 5.8 trillion yuan for the quarter, as policymakers pushed lenders to support struggling smaller, private companies, which are seen as higher credit risks than state-controlled firms.

But there are concerns that looser lending standards may fuel a further rise in bad loans as well as inefficient investment and speculation, particularly in the property market.

Underscoring the OECD’s warning about debt risks, data on Tuesday showed growth in new home prices accelerated in March after cooling since November 2018.

Average new home prices in China’s 70 major cities rose 0.6 percent, quickening from a 0.5 percent gain in February, according to Reuters calculation of data released by the National Bureau of Statistics (NBS).

Home prices in China are expected to rise more this year than predicted just a few months ago, a recent Reuters poll showed, as the government urges banks to increase lending and lower interest rates to support the economy.

The People’s Bank of China (PBOC) has already slashed banks’ reserve requirement ratio (RRR) five times over the past year and is widely expected to ease policy further in coming quarters to spur lending and reduce borrowing costs.

But top officials have repeatedly vowed not to open the floodgates in an economy already saddled with piles of debt – a legacy of massive stimulus during the global financial crisis in 2008-09 and subsequent downturns.

China’s economic growth is likely to slow to 6.2 percent this year – the weakest pace in nearly 30 years, and growth is expected to cool further to 6.0 percent in 2020, the OECD said. The economy expanded 6.6 percent in 2018.

In March, the OECD cut its 2019 growth forecast from 6.3 percent.

The OECD’s outlook on China’s economy was in line with a Reuters poll published last week.

Growth of China’s exports of goods and services could slow to 4.5 percent this year from 5.1 percent in 2018, amid trade frictions with the United States, the OECD predicted.

China’s current account may swing to a deficit of 0.1 percent of GDP this year from a small surplus in 2018, amid its rebalancing towards domestic demand, the OECD added.

(Reporting by Kevin Yao; Editing by Kim Coghill)

Source: OANN

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Trump says Islamic State no longer holds any territory in Syria

U.S. President Trump departs on travel to Florida from the White House in Washington
U.S. President Donald Trump talks to reporters as he departs the White House to depart on travel to his Mar-a-Lago resort in Palm Beach, Florida from the White House in Washington, U.S., March 22, 2019. REUTERS/Carlos Barria

March 22, 2019

PALM SPRINGS, Fla. (Reuters) – U.S. President Donald Trump said on Friday that U.S.-backed forces had dislodged the Islamic State militant group from its last holdout in Syria.

“Here’s ISIS on Election Day. And here’s ISIS right now,” Trump said, using the acronym for the group, as he displayed a before-and-after map to reporters, with the “before” portion full of red dots and the after-map empty.

“You guys can have the map. Congratulations,” Trump said. “I think it’s about time.” The president has previously displayed a map illustrating the diminution of Islamic State.

Trump has said Islamic State no longer holds territory several times over the past few weeks. But U.S. officials told Reuters that fighting still continued late into Thursday between U.S.-backed forces and Islamic State militants in the last remaining territory it holds.

Earlier on Friday, White House spokeswoman Sarah Sanders told reporters Islamic State no longer held any territory in Syria and that U.S. acting Defense Secretary Patrick Shanahan had briefed the president on the milestone as he was traveling to Florida on Air Force One.

The Syrian Democratic Forces (SDF) battled Islamic State militants holed up in the Baghouz area overnight, supported by U.S.-led coalition air strikes, the SDF said, seeking to defeat the last pockets of jihadist resistance.

The SDF has been battling for weeks to defeat Islamic State in the Baghouz enclave in southeastern Syria at the Iraqi border, all that remained of the territory the militants ruled, which once spanned a third of Syria and Iraq.

While the U.S.-backed SDF has captured most of the area, Mustafa Bali, head of the SDF media office, told Reuters SDF fighters were clashing late on Thursday with IS militants in more than two positions where they were refusing to surrender.

(Reporting by Roberta Rampton and Idrees Ali; Writing by Mohammad Zargham; Editing by Mary Milliken and Jonathan Oatis)

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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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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