Upcoming shows
Real News

NOW ON AIR
Now On Air

Real News with David Knight

9:00 am 12:00 pm



Maga First News

Upcoming Shows

Join The MAGA Network on Discord

0 0

Exports, inventories seen boosting U.S. first-quarter growth

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

April 26, 2019

By Lucia Mutikani

WASHINGTON (Reuters) – The U.S. economy likely maintained a moderate pace of growth in the first quarter, which could further dispel earlier fears of a recession even though activity was driven by temporary factors.

The Commerce Department’s gross domestic product (GDP) report to be published on Friday at 8:30 a.m. EDT (1230 GMT) is expected to sketch a picture of an economy growing close to potential, mostly reflecting the impact of an ebbing boost from a giant fiscal stimulus and past interest rate increases.

Gross domestic product probably increased at a 2.0 percent annualized rate in the first quarter as a burst in exports, strong inventory stockpiling and government investment in public construction projects offset slowdowns in consumer and business spending, according to a Reuters survey of economists.

With global growth still sluggish, the surge in exports is likely to reverse and the inventory build will probably need to be worked off, which could curtail production at factories. That could restrain growth in the second quarter.

The economy grew at a 2.2 percent pace in the October-December period. Growth has stepped down from a peak 4.2 percent pace in the second quarter of 2018, when the White House’s $1.5 trillion tax cut package jolted consumer spending.

Economists estimate the speed at which the economy can grow over a long period without igniting inflation at between 1.7 and 2.0 percent. The economy will mark 10 years of expansion in July, the longest on record.

“The economy remains solid, but we anticipate a slowing in the pace of growth in the medium term as the tailwinds from fiscal stimulus fade and the headwinds of tighter monetary policy take hold,” said Sam Bullard, a senior economist at Wells Fargo Securities in Charlotte, North Carolina.

The economy stumbled at the turn of the year, with a batch of weak economic reports suggesting first-quarter GDP growth as low as a 0.2 percent rate. The soft data stream stoked fears of a recession that were also exacerbated by a brief inversion of the U.S. Treasury yield curve.

Some of the weak data, especially retail sales, were blamed on a 35-day partial shutdown of the federal government, which hurt confidence and delayed processing of tax refunds. Since the shutdown ended on Jan. 25, economic data have mostly perked up, leading to a sharp upgrading of first-quarter GDP estimates.

“Slower, but moderate economic growth is continuing and we might see some slight acceleration as we head into second quarter,” said Sung Won Sohn, an economics professor at Loyola Marymount University in Los Angeles.

WEAK DOMESTIC DEMAND

The improvement in the economy’s fortunes has been mirrored by strong corporate profits for the quarter.

Some economists caution that growth could surprise on the downside because of a seasonal quirk. The so-called residual seasonality has tended to understate economic growth in the first quarter. Though the government said last year it had addressed the methodology problem, economists believe residual seasonality has not been entirely eliminated from the data.

A surge in exports and weak imports are expected to have sharply narrowed the trade deficit in the first quarter. Trade is believed to have added more than one percentage point to GDP after being neutral in the fourth quarter.

Trade tensions between the United States and China have caused wild swings in the trade deficit, with exporters and importers trying to stay ahead of the tariff fight between the two economic giants.

The trade standoff has also had an impact on inventories, which are expected to have increased in the first quarter at their strongest pace since 2015. Part of the inventory build is related to weak demand, especially in the automotive sector.

Inventories are expected to have contributed a full percentage point to first-quarter GDP after adding one-tenth of a percentage point in the October-December period.

Excluding trade and inventories, the economy is expected to have expanded at a roughly 1.6 percent rate in the first quarter. Economists said Federal Reserve officials were likely to focus on this growth measure.

The Fed recently suspended its three-year monetary policy tightening campaign, dropping forecasts for any interest rate hikes this year. The U.S. central bank increased borrowing costs four times in 2018.

“The composition of the data will not look favorably on domestic economic activity, nor provide a positive forward look at current quarter activity,” said Joe Brusuelas, chief economist at RSM in New York. “Policymakers will likely look past this growth report when formulating rate policy.”

Growth in consumer spending, which accounts for more than two-thirds of U.S. economic activity, is expected to have slowed significantly from the fourth quarter’s 2.5 percent rate. Economists said the government shutdown was the main factor behind the anticipated deceleration in spending.

A moderation is also expected in businesses spending on equipment because of the delayed impact of sharp drops in oil prices toward the end of 2018 and fading depreciation provisions in the 2018 tax bill. Supply chain disruptions caused by Washington’s trade war with Beijing were also seen crimping business investment.

(Reporting by Lucia Mutikani; Editing by Andrea Ricci)

Source: OANN

0 0

Officials: South Carolina school girl died of natural causes

A South Carolina prosecutor says the investigation into the death of a 5th grader last month was due to natural causes and not a fight with another student.

Solicitor Duffie Stone said at a press conference Friday that 10-year-old Raniya Wright died of a congenital condition called an arteriovenous malformation, a tangle of abnormal blood vessels in the brain. The child had repeatedly complained of headaches in the days and weeks before her death.

Stone said that pathology and other scientific reports showed no evidence of trauma to the body that would have indicated the child died of injuries sustained in a fight on March 25.

The child's family had maintained that another fifth grader at Forest Hills Elementary School in Walterboro had hit or pushed the girl.

Source: Fox News National

0 0

Iraqi TV: Iran's president arrives in Baghdad on 3-day visit

Iraqi television says Iranian President Hassan Rouhani has arrived in Iraq, making his first official visit to the neighboring nation that Tehran once fought a bloody war against and later backed in the battle with the Islamic State group.

Rouhani landed in Baghdad on Monday. He is scheduled to meet with both President Barham Salih and Prime Minister Abdel Abdul Mehdi, as well as visit other politicians and Shiite leaders.

Rouhani's visit comes as Iran faces a maximalist pressure campaign from President Donald Trump after he pulled America out of Tehran's nuclear deal with world powers.

So far, Iraq has said it will stand by Iran.

The visit underlines how much has changed since the 1980s, when Saddam Hussein invaded Iran, sparking an eight-year war that killed 1 million people.

Source: Fox News World

0 0

House Democrats demand documents on Trump administration’s ‘bizarre and unlawful’ proposal to release migrants in sanctuary cities

House Democrats on Monday blasted the Trump administration over its “bizarre and unlawful” proposal to release immigrant detainees into sanctuary cities, and demanded documents from the White House and the Department of Homeland Security related to the floated policy.

The Democrats also claimed that if it were enacted, it would be solely for “political purposes.”

House Judiciary Committee Chairman Jerrold Nadler, D-N.Y.; House Oversight Committee Chairman Elijah Cummings, D-Md.; and House Homeland Security Chairman Bennie Thompson, D-Miss., penned a letter to DHS and the White House Monday requesting emails, and other communications between administration officials related to the proposal.

TRUMP DOUBLES DOWN ON PLAN TO SHIP MIGRANTS TO SANCTUARY CITIES, SAYS 'RADICAL LEFT' SHOULD BE HAPPY

“We are deeply troubled by multiple reports, recently confirmed by the President, that the Trump Administration is considering releasing detained immigrants into congressional districts represented by Democrats in a bizarre and unlawful attempt to score political points,” the chairmen wrote.

“Not only does the Administration lack the legal authority to transfer detainees in this manner, it is shocking that the President and senior Administration officials are even considering manipulating release decisions for purely political reasons,” they continued.

The chairmen requested communications, emails, and other documents related to the transfer or release of immigrant detainees to specific areas in the U.S.; between DHS officials and Immigration and Customs Enforcement (ICE) officials, and any other materials related to the proposed policy.

The letter comes after President Trump responded to a Washington Post report last week, all but confirming that the administration proposed releasing detained immigrants in sanctuary cities. The president said that relocating illegal immigrants to these districts should make the “Radical Left” happy.

His comments came after The Post reported that the White House proposed sending the detainees to sanctuary cities twice in the last six months. The proposal was first floated in November amid reports of a large migrant caravan from Central America making its way to the southern border. The idea was again considered in February, amid the standoff with Congress over a border wall.

The Post said the plan was shot down both times, but last week, Trump signaled the proposal isn’t dead.

“Due to the fact that Democrats are unwilling to change our very dangerous immigration laws, we are indeed, as reported, giving strong considerations to placing Illegal Immigrants in Sanctuary Cities only,” Trump tweeted last week. “The Radical Left always seems to have an Open Borders, Open Arms policy—so this should make them very happy!”

Trump repeated the remarks later at the White House: "We can give them an unlimited supply...let’s see if they have open arms."

The president doubled down as Democrats fumed over the relocation idea.

“The extent of this Administration’s cynicism and cruelty cannot be overstated,” House Speaker Nancy Pelosi’s spokeswoman Ashley Etienne said in a statement Friday. “Using human beings—including little children—as pawns in their warped game to perpetuate fear and demonize immigrants is despicable, and in some cases, criminal.”

She added: “The American people have resoundingly rejected this Administration’s toxic anti-immigrant policies, and Democrats will continue to advance immigration policies that keep us safe and honor our values.”

PELOSI FUMES OVER WHITE HOUSE PLAN TO RELEASE IMMIGRANT DETAINEES IN SANCTUARY CITIES

Pelosi’s district—San Francisco—was among the sanctuary cities to which the administration considered sending detainees.

White House officials, though, stressed earlier Friday that the plan never went anywhere. A source familiar with discussions told Fox News that Democrats who advocate leniency toward illegal immigrants should work with the administration to find ways to transport those set for release, including in their states and districts.

The proposal was apparently rejected both times it came up by administration immigration agencies.

It is unclear, at this point, whether immigration agencies would now support the proposal.

Trump has repeatedly blasted sanctuary cities, which are areas where local authorities refuse to cooperate with federal immigration agencies. The cities are typically run by Democrats.

The president was also hit last week with questions over the administration’s past family separation policy at the border. Trump said they have no plans to revive the policy, amid renewed speculation about whether the practice could return amid a shake-up in staffing at the Department of Homeland Security, including the resignation of Secretary Kirstjen Nielsen.

WHITE HOUSE PROPOSED RELEASING IMMIGRANT DETAINEES INTO 'SANCTUARY CITIES' TO TARGET POLITICAL FOES: REPORT

Kevin McAleenan, who was serving as CBP commissioner, is replacing her as acting secretary.

Nielsen’s resignation last Sunday came amid an influx of migrants at the U.S.-Mexico border. Nielsen was reportedly frustrated with the difficulty of getting other departments to help deal with the growing number of families crossing the border. But administration officials told Fox News that McAleenan best fits Trump’s requirement of being the “toughest cop” on the frontier and that Nielsen had been viewed as resistant to some of the immigration measures pushed by the president and his aides.

By last Tuesday, DHS Acting Deputy Secretary Claire Grady also resigned.

And last Wednesday, Nielsen announced that ICE Acting Director Ron Vitiello would be stepping down by the end of the week.

Fox News' Kristin Brown, Matt Leach, and The Associated Press contributed to this report. 

Source: Fox News Politics

0 0

Emirates NBD saves $400M on Turkish bank after lira slide

Dubai's Emirates NBD bank has revised its acquisition price of Turkey's Denizbank following a slide in the Turkish lira, saying it has now agreed to pay 15.48 billion lira ($2.8 billion).

The new price reflects a $400 million savings based on the price of the lira at the original time of the agreement 10 months ago.

Emirates NBD issued a statement Wednesday with the revised terms, which reflect the sharp depreciation of the Turkish lira over the past year.

Emirates NBD first announced in May it had agreed to acquire 99.85% of the shares of Denizbank from Russia's Sberbank. The transaction is subject to regulatory approvals and is expected to be completed by July.

Local media reported that Emirates NBD shares soared to their highest level in 10 years Wednesday.

Source: Fox News World

0 0

Huawei CEO offered Berlin no-spy deal to soften 5G concerns: Wirtschaftswoche

Huawei CEO and founder Ren Zhengfei walks inside Huawei's headquarters in Shenzhen
FILE PHOTO: Huawei CEO and founder Ren Zhengfei walks inside Huawei's headquarters in the southern Chinese city of Shenzhen, Guangdong province, in this October 16, 2013 file photo. REUTERS/Bobby Yip

April 17, 2019

BERLIN (Reuters) – China’s Huawei offered Berlin a “no-spy agreement” to address security concerns over the Chinese company’s involvement in building Germany’s next-generation 5G mobile infrastructure, a German magazine said on Wednesday.

“Last month, we talked to the German Interior Ministry and said that we were ready to sign a no-spy agreement with the German government and to promise that Huawei will not install any backdoors in the networks,” Wirtschaftswoche quoted Huawei Chief Executive Ren Zhengfei as saying.

He called on the Chinese government to sign a similar no-spy-agreement and to adhere to European Union data protection laws.

Germany last month set tougher criteria for vendors supplying network equipment, stopping short of singling out Huawei for special treatment and instead saying the same rules should apply to all vendors.

(Reporting by Riham Alkousaa; Editing by Tassilo Hummel)

Source: OANN

0 0

Austria’s Kurz confirms link between Christchurch attacker and Identitarian Movement

A woman reacts at a make shift memorial outside the Al-Noor mosque in Christchurch
A woman reacts at a make shift memorial outside the Al-Noor mosque in Christchurch, New Zealand March 23, 2019. REUTERS/Edgar Su

March 27, 2019

VIENNA (Reuters) – Austrian Chancellor Sebastian Kurz on Wednesday confirmed that there was a financial link between the man who killed 50 people in mass shootings in Christchurch, New Zealand and the far-right Identitarian Movement in Austria.

Kurz said Austria was looking into dissolving the Identitarian Movement, which says it wants to preserve Europe’s identity.

(Reporting by Alexandra Schwarz-Goerlich; Writing by Riham Alkousaa; Editing by Michelle Martin)

Source: OANN

NOW ON AIR
Now On Air

Real News with David Knight

9:00 am 12:00 pm



U.S. President Trump departs for travel to Indianapolis from the White House in Washington
U.S. President Donald Trump talks to reporters as he departs for travel to Indianapolis, Indiana from the White House in Washington, U.S., April 26, 2019. REUTERS/Jonathan Ernst

April 26, 2019

WASHINGTON (Reuters) – U.S. President Donald Trump on Friday said trade talks with China are going very well, as the world’s two largest economies seek to end talks with a trade agreement to defuse tensions.

Trump said on Thursday he would soon host China’s President Xi Jinping at the White House.

Earlier this week, the White House said that Treasury Secretary Steven Mnuchin and U.S. Trade Representative Robert Lighthizer would travel to Beijing for more talks on a trade dispute marked by tit-for-tat tariffs between the two countries.

(Reporting by Jeff Mason; Writing by Makini Brice; Editing by Chizu Nomiyama)

Source: OANN

Listen to https://magaoneradio.net and Listen Daily! Don't Forget to Share Click a Link Below!
U.S. President Donald Trump hosts Take Our Daughters and Sons to Work Day at the White House in Washington
U.S. President Donald Trump gives a thumbs up to his audience as he hosts Take Our Daughters and Sons to Work Day at the White House in Washington, U.S., April 25, 2019. REUTERS/Kevin Lamarque

April 26, 2019

WASHINGTON (Reuters) – U.S. President Donald Trump on Friday praised Russian President Vladimir Putin’s comments on North Korea this week following the Russian leader’s summit with Pyongyang’s Kim Jong Un.

Speaking to reporters at the White House, Trump also said China was helping with efforts aimed at the denuclearization of North Korea.

(Reporting by Jeff Mason and Makini Brice; Writing by Susan Heavey; Editing by Chizu Nomiyama)

Source: OANN

Listen to https://magaoneradio.net and Listen Daily! Don't Forget to Share Click a Link Below!
Representatives of Russian Transneft, Ukranian Ukrtransnafta, Polish Pern and Belarusian Belneftekhim gather to hold talks on fixing tainted oil supplies to Europe, in Minsk
Representatives of Russian Transneft, Ukranian Ukrtransnafta, Polish Pern and Belarusian Belneftekhim gather to hold talks on fixing tainted oil supplies to Europe, in Minsk, Belarus April 26, 2019. REUTERS/Vasily Fedosenko

April 26, 2019

By Katya Golubkova and Andrei Makhovsky

MOSCOW/MINSK (Reuters) – Russia is confident it can soon resolve a problem of polluted Russian oil contaminating a major pipeline serving Europe and affecting supplies as far west as Germany, a senior official said on Friday at talks with importers about the issue.

Russian Deputy Energy Minister Pavel Sorokin did not give a precise timeframe but Moscow has previously said it would pump clean oil to the border with Belarus from April 29, seeking to end a crisis hitting the world’s second-largest crude exporter.

Sorokin was speaking at talks with officials from Belarus, Poland and Ukraine in Minsk on the issue. Belarus said the issue had cost it $100 million, while analysts say alternative supply routes for refiners cannot fully fill the gap.

Poland, Germany, Ukraine and Slovakia have suspended imports of Russian oil via the Druzhba pipeline. Halting those supplies has knock-on effects further along the network.

The problem arose last week when an unidentified Russian producer contaminated oil with high levels of organic chloride used to boost oil output but which must be separated before shipment as it can destroy refining equipment.

Russia’s Energy Ministry said pipeline monopoly Transneft and other Russian companies had a plan to mitigate the effects of the contaminated oil. It did not give details.

Russian officials have said contaminated oil has already been pumped into storage in Russia and Friday’s talks would focus on how to partially withdraw the tainted crude from the Druzhba pipeline running via other countries.

The suspension cuts off a major supply route for Polish refineries owned by Poland’s PKN Orlen and Grupa Lotos, as well as plants in Germany owned by Total, Shell, Eni and Rosneft.

Some refiners have outlined plans for alternative supplies, but analysts say other routes cannot meet the shortfall.

OIL PRICES

Ukraine’s Ukrtransnafta suspended the transit of oil through the pipeline on Thursday, closing supplies via Druzhba’s southern route to Slovakia, the Czech Republic and Hungary.

The pipeline issue, which has supported global oil prices, lifted Russian Urals crude differentials to an all-time high on Thursday.

With pipeline supplies to Europe shut, Russia faces a challenge of how to divert about 1 million barrels per day (bpd) that was meant to be shipped through the network to other destinations at the time when export capacity is at its limits.

State-run Russian Railways held talks with energy firms on using up to 5,000 rail tankers to transport crude, RIA news agency reported on Friday.

Concerns about the quality of Urals crude also caused delays in loadings at the Baltic port of Ust-Luga, when buyers refused to lift cargoes, resulting in a brief shutdown of the port on Wednesday and Thursday. An Ust-Luga official and traders said on Friday loadings had resumed.

Russian loading plans indicate it aims to boost Urals exports in May before the expiry of a deal on output cuts agreed with the Organization of the Petroleum Exporting Countries and its allies, Reuters calculations and Energy Ministry data show.

The provisional loading plan for Russia’s Baltic Sea ports and Novorossiisk in May show exports rising to 10.7 million tonnes, the highest level in half a decade.

Minsk estimated its loss from lower oil product exports due to contaminated Russian oil at around $100 million, Russia’s Interfax news agency reported on Thursday, citing Belarusian state oil company Belneftekhim.

Russian Deputy Prime Minister Dmitry Kozak, in charge of government energy policy, said this week that those found responsible for contaminating the oil could be fined. He did not provide names.

(Reporting by Agnieszka Barteczko in WARSAW, Sandor Peto in BUDAPEST, Jason Hovet in PRAGUE, Matthias Williams and Natalia Zinets in KIEV, Katya Golubkova, Olesya Astakhova, Gleb Gorodyankin, Olga Yagova and Maxim Rodionov in MOSCOW, Andrei Makhovsky in MINSK; writing by Katya Golubkova; editing by Michael Perry and Edmund Blair)

Source: OANN

Listen to https://magaoneradio.net and Listen Daily! Don't Forget to Share Click a Link Below!
FILE PHOTO - A worker sits on a ship carrying containers at Mundra Port in the western Indian state of Gujarat
FILE PHOTO: A worker sits on a ship carrying containers at Mundra Port in the western Indian state of Gujarat April 1, 2014. REUTERS/Amit Dave/File Photo

April 26, 2019

(Reuters) – India has once again delayed the implementation of higher tariffs on some goods imported from the United States to May 15, a government official said on Friday.

The new tariff structure was to come into force from May 2, the spokeswoman said without citing reasons for the delay.

Angered by Washington’s refusal to exempt it from new steel and aluminum tariffs, New Delhi decided in June last year to raise the import tax from Aug. 4 on some U.S. products including almonds, walnuts and apples.

But since then, New Delhi has repeatedly delayed the implementation of the new tariff.

Trade friction between India and the U.S. has escalated after U.S. President Donald Trump announced plans earlier this year to end preferential trade treatment for India that allows duty-free entry for up to $5.6 billion worth of its exports to the United States.

In a further blow, U.S. on Monday demanded buyers of Iranian oil stop purchases by May or face sanctions, ending six months of waivers which allowed Iran’s eight biggest buyers including India to continue importing limited volumes.

(Reporting by Manoj Kumar in New Delhi and Kanishka Singh in Bengaluru; Editing by Anil D’Silva and Raissa Kasolowsky)

Source: OANN

Listen to https://magaoneradio.net and Listen Daily! Don't Forget to Share Click a Link Below!

One of Joe Biden’s newly-hired senior advisers has seemingly had a very recent change of heart.

Symone Sanders, a prominent Democratic strategist and Sen. Bernie Sanders, I-Vt., staffer in 2016, was announced as one of the big-name members of Team Biden on Thursday.

But Sanders, who has also served as a CNN contributor, is seen in resurfaced footage from November 2016 expressing her opposition to a white person leading her party after Donald Trump’s election.

“In my opinion, we don’t need white people leading the Democratic party right now,” Sanders told host Brianna Keilar during a discussion on Howard Dean potentially becoming DNC chairman.

BIDEN HIRES FORMER BERNIE SANDERS’ SPOKESPERSON AS SENIOR ADVISER

“The Democratic party is diverse, and it should be reflected as so in leadership and throughout the staff, at the highest levels. From the vice chairs to the secretaries all the way down to the people working in the offices at the DNC,” she said.

Sanders wrapped up her remarks by saying: “I want to hear more from everybody. I want to hear from the millennials and the brown folks.”

Footage of the interview was resurfaced by RealClearPolitics.

After news of her hiring broke on Thursday, Sanders backed her new boss on Twitter.

TRUMP ASSESSES 2020 DEMS; TAKES SWIPES AT BIDEN, SANDERS; DISMISSES HARRIS, O’ROURKE; SAYS HE’S ROOTING FOR BUTTIGIEG

“@JoeBiden & @DrBiden are a class act. Over the course of this campaign, Vice President Biden is going to make his case to the American ppl. He won’t always be perfect, but I believe he will get it right,” she wrote.

The hiring of Sanders has been viewed as another indication of the expected tough fight that Biden and Sanders are in for as the two frontrunners battle a deep Democratic field.

While Sanders himself didn’t torch Biden as he jumped into the race, it’s clear that many of his progressive supporters view the former vice president as a threat.

Biden’s entry into the race – at least in the early going – sets up a battle between himself and Sanders, who thanks to his fierce fight with eventual nominee Hillary Clinton for the 2016 Democratic nomination, enjoys name ID on the level of the former vice president.

BIDEN VOWS THAT ‘AMERICA IS COMING BACK,’ SPARKING ‘MAGA’ COMPARISONS

Justice Democrats — who also called Biden “out-of-touch” – is an increasingly influential group among the left of the party. They’ve championed progressive Rep. Alexandria Ocasio-Cortez of New York as well as Sanders. The group was founded by members of Sanders 2016 presidential campaign.

Biden has pushed back against the perception that he’s a moderate in a party that’s increasingly moving to the left. Earlier this month he described himself as an “Obama-Biden Democrat.”

And Biden said he’d stack his record against “anybody who has run or who is running now or who will run.”

Former Democratic National Committee chair Donna Brazile – a Fox News contributor – highlighted that “Joe Biden can occupy his own lane in large part because he’s earned it. He’s earned the right to call himself whatever.”

CLICK HERE TO GET THE FOX NEWS APP

But she emphasized that “elections are not about the past, they’re about the future…I do believe he has the right ingredients. The question is can he find enough people to help him stir the pot.”

Fox News Andrew O’Reilly contributed to this report.

Source: Fox News Politics

Listen to https://magaoneradio.net and Listen Daily! Don't Forget to Share Click a Link Below!

Listen to https://magaoneradio.net and Listen Daily! Don't Forget to Share Click a Link Below!
Current track

Title

Artist