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IMF board approves Argentina third review, greenlights $10.8 billion funding tranche

FILE PHOTO: IMF logo is seen outside the headquarters building in Washington
FILE PHOTO: International Monetary Fund (IMF) logo is seen outside the headquarters building in Washington, U.S., as IMF Managing Director Christine Lagarde meets with Argentine Treasury Minister Nicolas Dujovne September 4, 2018. REUTERS/Yuri Gripas

April 5, 2019

BUENOS AIRES (Reuters) – The International Monetary Fund’s (IMF) executive board ratified on Friday its third review of Argentina’s economic progress under a major financing deal agreed last year, unlocking a roughly $10.8 billion tranche of funds.

The IMF said in a statement that the board had approved an agreement with Argentina over the country’s third review, struck with a staff-level team last month. It also added there were signs the country’s recession had “bottomed out”.

Argentina agreed a $56.3 billion standby financing deal with the fund last year when Latin America’s No. 3 economy was battered by rampant inflation and a run on the peso currency, which lost half its value against the U.S. dollar.

(Reporting by Eliana Raszewski and Hugh Bronstein; Writing by Adam Jourdan; Editing by Susan Thomas)

Source: OANN

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CNN’s Stelter: ‘Extreme’ Right Wing Media Influencing Trump Decisions

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Source: InfoWars

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Turkey expects Trump to protect Turkey from any S-400-related sanctions

FILE PHOTO: S-400 surface-to-air missile system after its deployment near Kaliningrad
FILE PHOTO: New S-400 "Triumph" surface-to-air missile system after its deployment at a military base outside the town of Gvardeysk near Kaliningrad, Russia. Picture taken March 11, 2019. REUTERS/Vitaly Nevar/File Photo/File Photo

April 16, 2019

WASHINGTON (Reuters) – Turkey expects President Donald Trump to use a waiver to protect it from any sanctions imposed by U.S. Congress over Ankara’s planned purchase of a Russian missile defense system, a Turkish presidential spokesman said in Washington on Tuesday.

The United States has threatened to impose so-called CAATSA sanctions if Turkey seals its deal with Russia. Ankara has repeatedly said its purchase should not trigger sanctions as Turkey is not an adversary of Washington and remains committed to the NATO alliance.

Asked what Turkey would do if Trump abstained from providing a waiver, Ibrahim Kalin, the spokesman, said Turkey would have to wait and see the scope of the sanctions, but hopes it does not come to that.

(Reporting by Humeyra Pamuk; Writing by Sarah Dadouch and Ezgi Erkoyun; Editing by Jonathan Spicer)

Source: OANN

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Qualcomm settlement with Apple paves way for Huawei dispute: analysts

A sign on the Qualcomm campus is seen, as chip maker Broadcom Ltd announced an unsolicited bid to buy peer Qualcomm Inc for $103 billion, in San Diego
FILE PHOTO: A sign on the Qualcomm campus is seen in San Diego, California, U.S. November 6, 2017. REUTERS/Mike Blake

April 17, 2019

(Reuters) – Qualcomm Inc’s surprise settlement of a prolonged legal fight with Apple Inc paves the way for the chipmaker to resolve a similar dispute with China’s Huawei Technologies Co Ltd, ahead of the launch of 5G phones, several analysts said.

Shares of Qualcomm, which closed up 23 percent on Tuesday, rose another 10 percent in premarket trade on Wednesday after it signed a six-year patent license deal with Apple.

If Wednesday’s gains hold, Qualcomm would tack on more than $20 billion in market value since announcing the settlement.

The two companies had been at odds over patents and royalties over modems. While Qualcomm did not close the terms of the deal, analysts estimated that Apple withheld $5 billion, or about $2 per share, under its previous royalty payment agreement.

Qualcomm and Huawei are also fighting over the same issues.

Huawei stopped royalty payments in April 2017 and Qualcomm said in January it has signed an interim agreement with the Chinese company and is in talks for a final resolution.

“We now expect an imminent settlement with Huawei which has also been withholding royalty payments, which we estimate will add another $0.50-$0.75 of EPS,” Cowen and Company analysts said.

Three brokerages raised their ratings on Qualcomm’s stock and at least eight brokerages boosted their price targets. Fourteen out of 25 brokerages rated the stock “buy” or higher and the rest “hold”, according to Refinitiv data.

A settlement with Apple and Huawei will not only bring in more royalty payments and reduce legal costs, it will help Qualcomm to focus more in rolling out its 5G modems, several analysts said.

The Qualcomm settlement means Apple will rely on the chipmaker for most if not all of its 5G modems in iPhones starting in 2020, with Qualcomm likely the leading to only supplier for the next several years, Canaccord Genuity analysts said.

Intel Corp, which was supplying modem chips to Apple for its latest iPhones, said late on Tuesday that it was exiting the phone modem business.

(Reporting by Akanksha Rana in Bengaluru; Editing by Bernard Orr)

Source: OANN

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Peter Schiff Slams Fed for Printing Money While Artificially Keeping Interest Rates Down

During the New Orleans Investment Conference, Peter Schiff participated in a panel discussion with Ben Hunt and Mike Larson. They talked about bubbles, booms and busts.

Hunt called it the “bubble of everything.” But he said the “gravitational force” created by all of the assets central banks have purchased over the last year have changed the “bubble-popping process.” That makes it hard to predict when things will actually start to deflate. He said it will take something the undermines the market confidence that central banks can bail us out. Hunt said inflation was possibly the pin that could prick the bubble.

Larson called it the “uber-bubble,” and he said he already sees some of the background concerns that have been simmering for  a long time are starting to “bubble over.” (Pun intended.) He said the last two bubbles were high in amplitude, but limited to certain parts of the economy (dot-coms and housing). The current bubble isn’t as high in amplitude, but it’s broader-based. We see bubbles in stocks, high-yield bonds, housing (again), and commercial real estate, along with a lot of other assets you don’t hear as much about – such as art and comic books.

“I think the process of unwinding this is already beginning.”

Peter focused in on the cause of the bubbles.

“When you see rampant, wide-scale bad decisions, generally a central banker is behind it, and they have made a bad decision to create too much money and to artificially manipulate interest rates down.”

This creates distortions in the economy because interest rates are really nothing more than price signals.

“And like all prices, they need to be determined by the free market.”

Whenever the government – and central banks are really an extension of governments – price fixes something, it creates big distortions and malinvestments.

“We have had artificially low-interest rates for an unprecedented number of years at an unprecedented low rate. So, the mistakes that have been made during this time period dwarf the mistakes that have ever been made in any bubble in the past because the bubble is so much bigger.”

When a bubble finally bursts, it’s really just the free market trying to clean up the mess created by the intervention. The bigger the boom, the bigger the bust.

“The problem now is that the boom is so big that the bust will be catastrophic. And what’s going to make this bust different is that there is no bailout. There is no stimulus. It is impossible to reflate this bubble, because, as has been said, this is a bubble of everything. They can’t make a bubble go someplace else. It already is everyplace.”

(Photo by Wikimedia Commons)

Peter said the only place there isn’t a bubble is in gold. That means there is also a bubble in complacency and optimism.

“People are so drunk on all this cheap money, they think nothing can go wrong.”

As far as what pin will prick the bubble, Peter said there are all kinds of pins out there. The problem is that when you’re in a bubble, you can’t see the pins.

The panel goes on to discuss some of the specific manifestations of the bubbles and where they see trouble spots.

And Peter makes a pitch for gold, saying his 24 karat gold cufflinks will outperform the S&P 500 over the next five years. He pointed out that when they started popping the dot-com bubble, gold was under $300. It got as high as $1,900 in 2011.

“This game is not over. The fat lady hasn’t sung yet. When this final bubble pops, gold is going through the roof –I do think that by the time this bubble has run its course, you’ll be able to buy the Dow Jones for an ounce of gold.”


Owen Shroyer delivers an epic rant on how U.S. soldiers were disrespected at the southern border by the Mexican Army.

Source: InfoWars

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Dallas security guard kills naked, unarmed man, police say

Texas man fatally shot by a security guard on Sunday was unarmed and naked when the shooting took place, a detail that seems inconsistent with the guard’s claim that he was acting in self-defense.

Dallas police responded to reports of a shooting at the Oasis Apartments on East Ledbetter Drive at 10:30 p.m. Sunday. Officers found 32-year-old Christopher Willard with a gunshot wound to his chest.

He was transported to Baylor Hospital where he was pronounced dead.

SUSPECT IN NIPSEY HUSSLE SHOOTING DEATH ARRESTED, POLICE SAY

Initial reports from police indicated that Willard was involved in an altercation with a female security guard at the apartments 30 minutes prior to the shooting. Court records obtained by Fox 4 say Willard punched the unidentified female guard in the face.

Security Officer Vincent Hobbs, 32, and other guards went to the room where Willard was staying to confront him. Police say a fight ensued in the apartment and then spilled into the hall. Other security guards allegedly subdued Willard while Hobbs shot him.

Hobbs, who has been charged with murder, initially told police he was acting in self-defense, with Willard charging at him with a gun, Fox 4 reported.

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But an arrest warrant affidavit said Willard was both unarmed and undressed at the time. The report cited witness testimony and body camera footage from one of the security officers.

Hobbs, who owns the security service North Texas Strike Force, posted bail and was released from the Dallas County Jail on Monday, The Dallas Morning News reported.

Source: Fox News National

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Verizon raises full-year profit forecast

FILE PHOTO: A man stands next to the logo of Verizon at the Mobile World Congress in Barcelona
FILE PHOTO: A man stands next to the logo of Verizon at the Mobile World Congress in Barcelona, Spain, February 26, 2019. REUTERS/Sergio Perez/File Photo

April 23, 2019

(Reuters) – Verizon Communications Inc on Tuesday raised its 2019 profit forecast and beat Wall Street estimates for quarterly earnings, as the largest U.S. wireless carrier prepares for a wider 5G services rollout in the United States.

The carrier now expects low single-digit percentage growth in adjusted profit, after previously saying that its 2019 profit would be similar to what it reported a year earlier.

Verizon launched its 5G mobile network in two cities in the United States last month at an additional cost of $10 for customers with existing unlimited plans. It plans to spend $17 billion to $18 billion this year to build its network.

The company, however, said it lost a net 44,000 phone subscribers who pay a monthly bill in the first quarter. Analysts had expected a loss of 25,000 subscribers, according to research firm FactSet.

Net income attributable to the company rose to $5.03 billion, or $1.22 per share, in the first quarter ended March 31 from $4.55 billion, or $1.11 per share, a year earlier.

On an adjusted basis, Verizon earned $1.20 per share, beating analysts’ estimates of $1.17, according to IBES data from Refinitiv.

Total operating revenue rose about 1 percent to $32.13 billion during the quarter, falling slightly short of analysts’ estimates of $32.16 billion.

Shares of the company rose 2 percent before the bell.

(Reporting by Akanksha Rana in Bengaluru and Sheila Dang in New York; Editing by Bernard Orr and Anil D’Silva)

Source: OANN

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Afghan President Ashraf Ghani speaks during the inauguration of the newly-elected parliament in Kabul
Afghan President Ashraf Ghani speaks during the inauguration of the newly-elected parliament in Kabul, Afghanistan April 26, 2019. REUTERS/Omar Sobhani

April 26, 2019

By Rupam Jain and Hameed Farzad

KABUL (Reuters) – Afghan President Ashraf Ghani encouraged newly-elected lawmakers to participate in the peace process with the Taliban as he opened on Friday the first session of parliament since a controversial election.

Ghani has invited thousands of politicians, religious scholars and rights activists to an assembly known as a loya jirga next week to discuss ways to end the 17-year war.

Several opposition leaders have said they will boycott the four-day assembly in Kabul, saying it was pulled together without their input and is being used by Ghani as he seeks a second term in a September presidential election.

“We have presented the peace plan on a regular basis and we are committed to it,” Ghani said in the first session since parliamentary elections marred by technical problems, militant attacks and accusations of voting fraud last year.

“Based on this plan, there will be no peace deal and negotiation that does not have the green card of the parliament,” he added.

Officials from the United States and the Taliban have held several rounds of talks to end the Afghan war.

U.S. negotiator, Zalmay Khalilzad, has reported some progress toward an accord on a U.S. troop withdrawal and on how the Taliban would prevent extremists from using Afghanistan to launch attacks as al Qaeda did on Sept. 11, 2001.

The insurgents have so far rejected U.S. demands for a ceasefire and talks on the country’s political future that would include Afghan government officials.

The loya jirga, a centuries-old institution used to build consensus among competing tribes, factions and ethnic groups, is an attempt by Ghani to influence the peace talks and cement his position for a second term, Afghan politicians and Western diplomats say.

Amid growing political divisions in Kabul, opposition politicians have demanded that Ghani step down when his mandate ends next month, and give way to an interim government to oversee peace talks with the Taliban. Ghani has ruled that out.

The country’s top court said last week Ghani can stay in office until the presidential election in September.

(Reporting by Hameed Farzad, Rupam Jain, Editing by Darren Schuettler)

Source: OANN

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Deputy Attorney General Rod Rosenstein Thursday defended special counsel Robert Mueller’s investigation while slamming former President Barack Obama’s administration for being slow to take action on Russian interference in U.S. elections and ex-FBI Director James Comey for telling Congress the agency was investigating collusion between the Trump campaign and Russia.

“Our nation is safer, elections are more secure, and citizens are better informed about covert foreign influence schemes,” Rosenstein said in a speech to the Armenian Bar Association, marking his first public remarks after the Mueller report was released, reports CBS News.

He also pointed out that the investigation revealed a pattern of computer hacking and the use of social media to undermine elections as “only the tip of the iceberg of a comprehensive Russian strategy to influence elections, promote social discord, and undermine America, just like they do in many other countries,” reports The Wall Street Journal.

The Obama administration also made “critical decisions,” including choosing not to publicize the full story about Russian hackers and social media trolling, “and how they relate to a broader strategy to undermine America,” said Rosenstein.

He noted that the Mueller probe began after Comey disclosed during a hearing before Congress that President Donald Trump “pressured him to close the investigation and the president denied that the conversation occurred.”

Rosenstein said two years ago, when he was confirmed, he was told by a Republican senator that he would be in charge of the probe and that he’d report the results to the American people.

However, he said he didn’t promise to do that, because it is “not our job to render conclusive factual findings. We just decide whether it is appropriate to file criminal charges.”

Source: NewsMax Politics

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FILE PHOTO: The Huawei logo is pictured outside its Huawei's factory campus in Dongguan, Guangdong province
FILE PHOTO: The Huawei logo is pictured outside its Huawei’s factory campus in Dongguan, Guangdong province, China, March 25, 2019. REUTERS/Tyrone Siu/File Photo

April 26, 2019

By Ben Blanchard

BEIJING (Reuters) – Britain must get to the bottom of the leak of confidential discussions during a top-level security meeting about the role of China’s Huawei Technologies in 5G network supply chains, British finance minister Philip Hammond said on Friday.

News that Britain’s National Security Council, attended by senior ministers and spy chiefs, had agreed on Tuesday to bar Huawei from all core parts of the country’s 5G network and restrict its access to non-core elements was leaked to a national newspaper.

The leak of secret discussions has sparked anger in parliament and amongst Britain’s intelligence community. Britain’s most senior civil servant Mark Sedwill has launched an inquiry and written to ministers who were at the meeting.

“My understanding from London (is) that an investigation has been announced into apparent leaks from the NSC meeting earlier this week,” said Hammond, speaking on the sidelines of a summit on China’s Belt and Road initiative in Beijing.

“To my knowledge there has never been a leak from a National Security Council meeting before and therefore I think it is very important that we get to the bottom of what happened here,” he told Reuters in a pooled interview.

British culture minister Jeremy Wright said on Thursday he could not rule out a criminal investigation. The majority of the ministers at the NSC meeting have said they were not involved, according to media reports.

Hammond said he was unaware of any previous leak from a meeting of the NSC.

“It’s not about the substance of what was apparently leaked. It’s not earth-shattering information. But it is important that we protect the principle that nothing that goes on in national security council meetings must ever be repeated outside the room.”

Allowing Huawei a reduced role in building its 5G network puts Britain at odds with the United States which has told allies not to use its technology at all because of fears it could be a vehicle for Chinese spying. Huawei has categorically denied this.

There have been concerns that the NSC’s conclusion, which sources confirmed to Reuters, could upset other allies in the world’s leading intelligence-sharing network – the Five Eyes alliance of the United States, Britain, Australia, Canada and New Zealand.

However, British ministers and intelligence officials have said any final decision on 5G would not put critical national infrastructure at risk. Ciaran Martin, head of the cyber center of Britain’s main eavesdropping agency, GCHQ, played down any threat of a rift in the Five Eyes alliance.

(Writing by Michael Holden; Editing by Mark Heinrich)

Source: OANN

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President Trump on Friday said “no money” was paid to North Korea for Otto Warmbier, after reports that the U.S. received a $2 million hospital bill from Pyongyang for the late American prisoner’s care.

“No money was paid to North Korea for Otto Warmbier, not two Million Dollars, not anything else. This is not the Obama Administration that paid 1.8 Billion Dollars for four hostages, or gave five terroist[sic] hostages plus, who soon went back to battle, for traitor Sgt. Bergdahl!” Trump tweeted Friday.

NORTH KOREA GAVE US $2M HOSPITAL BILL OVER CARE OF AMERICAN OTTO WARMBIER, SOURCES SAY

The Washington Post first reported that North Korean authorities insisted the U.S. envoy sent to retrieve Warmbier, 21, who was a student of the University of Virginia, sign a pledge to pay the bill before allowing Warmbier’s comatose body to return to the United States. Sources confirmed the bill and the amount to Fox News on Thursday.

Sources told the post that the envoy signed an agreement to pay the medical bill on instructions from the president, but a source told Fox News that the U.S. did not ever pay money to North Korea.

The White House declined to comment when asked on the bill, with Press Secretary Sarah Sanders saying in a statement that: “We do not comment on hostage negotiations, which is why they have been so successful during this administration.”

Meanwhile, the president added: “’President[sic] Donald J. Trump is the greatest hostage negotiator that I know of in the history of the United States. 20 hostages, many in impossible circumstances, have been released in last two years. No money was paid.’ Cheif[sic] Hostage Negotiator, USA!”

Warmbier was on tour in North Korea when he allegedly stole a propaganda sign from a hotel. He was arrested in January 2016 and sentenced to 15 years in prison with hard labor in March 2016. Warmbier, for unknown reasons, fell into a coma while in custody and was held in that condition for an additional 17 months.

North Korean officials did not tell American officials until June 2017 that Warmbier had been unconscious the entire time. He died less than a week after he returned to the U.S. North Korean officials, though, have repeatedly denied accusations that Warmbier was tortured, instead claiming that he had suffered from botulism and then slipped into a coma after taking a sleeping pill.

AMERICAN PRISONERS HELD IN NORTH KOREA ON THEIR WAY HOME AFTER POMPEO VISIT, TRUMP SAYS

Fred and Cindy Warmbier sued North Korea over their son’s death and in December were awarded $501 million in damages – money that the Hermit Kingdom will probably never pay.

While the Warmbiers blamed North Korean leader Kim Jong Un, Trump has said he believes Kim’s claims that he did not know about the student’s treatment.

Trump and Kim have met in two separate summits. The most recent, held in February, ended without an agreement on denuclearization of the Korean Peninsula.

Sen. Rob Portman, R-Ohio, told Fox News: “Otto Warmbier was mistreated by North Korea in so many ways, including his wrongful conviction and harsh sentence, and the fact that for 16 months they refused to tell his family or our country about his dire condition they caused.  No, the United States owes them nothing. They owe the Warmbier family everything.”

Last year, the Trump administration was also able to save three American prisoners held by North Korea. Kim Dong Chul, Tony Kim, and Kim Hak Song were all detained in North Korea. Secretary of State Mike Pompeo brought the three Americans home last May, and said they were all in “good health.”

Fox News’ John Roberts, Rich Edson, Nicholas Kalman, and Mike Emanuel contributed to this report.

Source: Fox News Politics

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Park Yoo-chun, a K-pop idol singer, arrives at the Suwon district court in Suwon
Park Yoo-chun, a K-pop idol singer, arrives at the Suwon district court in Suwon, South Korea, April 26, 2019. REUTERS/Kim Hong-Ji

April 26, 2019

SEOUL (Reuters) – K-pop and drama star Park Yu-chun was arrested on Friday on charges of buying and using illegal drugs, a court said, the latest in a series of scandals to hit the South Korean entertainment business.

Suwon District Court approved the arrest warrant for Park, 32, due to concerns over possible destruction of evidence and flight risk, a court spokesman told Reuters.

Park is suspected of having bought about 1.5 grams of methamphetamine with his former girlfriend earlier this year and using the drug around five times, an official at the Gyeonggi Nambu Provincial Police Agency said.

Park has denied wrongdoing, saying he had never taken drugs, and he again denied the charges in court, Yonhap news agency said.

Park’s contract with his management agency had been canceled and he would leave the entertainment industry, Park’s management agency, C-JeS Entertainment, said on Wednesday.

Park was a member of boyband TVXQ between 2003 and 2009 before leaving the group with two other members, forming the group JYJ.

A scandal involving sex tapes, prostitutes and secret chat about rape led at least four other K-pop stars to quit the industry earlier this year.

The cases sparked a nationwide drugs bust and investigations into tax evasion and police collusion at night clubs and other nightlife spots.

(Reporting by Joyce Lee; Additional reporting by Heekyong Yang; Editing by Nick Macfie)

Source: OANN

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