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Asian stocks inch higher on hopes of progress in U.S.-China talks

FILE PHOTO: A man stands in front of an electronic board showing the Nikkei stock index outside a brokerage in Tokyo
FILE PHOTO: A man stands in front of an electronic board showing the Nikkei stock index outside a brokerage in Tokyo, Japan, March 25, 2019. REUTERS/Kim Kyung-hoon

March 29, 2019

By Hideyuki Sano

TOKYO (Reuters) – Asian shares posted narrow gains on Friday on revived hopes of progress in U.S.-China trade talks, while global bond yields moved higher after a prolonged slide on worries about the economic outlook.

MSCI’s broadest index of Asia-Pacific shares outside Japan edged up 0.1 percent while Japan’s Nikkei rose 1.0 percent.

The S&P 500 on Thursday gained 0.36 percent and the Nasdaq Composite added 0.34 percent.

Despite recent market turbulence, the S&P 500 has gained 12.3 percent so far this quarter, which would mark its best quarterly performance since 2009 if sustained.

The mood was brightened after U.S. officials said China has made proposals in trade talks with the United States on a range of issues that go further than it has before, including on forced technology transfer.

The 10-year U.S. bond yield edged up to 2.391 percent from a 15-month low of 2.352 percent touched on Thursday after an almost relentless fall since the Fed’s dovish tone last week had investors more worried about the economic outlook.

Investors have been on heightened alert since the yield on the 10-year note fell below the three-month U.S. Treasury yield last Friday, an inversion of the yield curve that is widely seen as an indicator of a recession.

Data published on Thursday showed U.S. economic growth was slower than initially thought in the fourth quarter, with GDP growth revised down to 2.2 percent from an earlier reading of 2.6 percent.

“The economy is softening and will soften for now. But whether the U.S. is entering a recession is still debatable,” said Mutsumi Kagawa, chief global strategist at Rakuten Securities.

“Lower bond yields will support the economy while (U.S. President Donald) Trump is likely to take steps to support the economy as he seeks re-election. The economy could pick up later this year,” he said.

In the currency market, the euro stood at $1.1233 after having slid to a three-week low of $1.1214 as speculation grew that the European Central Bank will introduce a tiered deposit rate.

The yen was steadier at 110.64 to the dollar, off Monday’s 1-1/2 month high of 109.70.

In a sign of simmering concerns about political and economic uncertainties, the Swiss franc has been well-bid, hitting a 20-month high of 1.11665 to the euro.

The Turkish lira licked its wounds after a 4 percent plunge on Thursday. President Tayyip Erdogan blamed the currency’s weakness on attacks by the West ahead of nationwide local elections on Sunday.

Another severe move was seen in palladium, which dropped 6.6 percent on Thursday and has lost one-sixth of its value from last week’s peak on concerns that an economic slowdown could dent demand.

The British pound dropped to $1.3050 as the prospect of a swift agreement on Brexit faded with the British parliament yet again failing to agree on a way forward.

Oil futures were quickly recovering from the damage caused by Trump’s call for OPEC to boost crude output in an effort to lower prices.

U.S. crude futures traded at $59.54 per barrel, up 0.4 percent on the day and recovering from Thursday’s low of $58.20.

(Reporting by Hideyuki Sano; editing by Richard Pullin)

Source: OANN

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'The LeBron James of money laundering investigations' leaving Mueller's team: report

One of Special Counsel Robert Mueller’s top prosecutors conducting the Russia investigation is leaving the Justice Department, prompting new speculation that the probe is coming to an end, a report said.

Andrew Weissmann will leave to teach at New York University while working on various public service projects and preventing wrongful convictions, NPR reported.  Weissmann helped build the case against President Donald Trump’s former campaign manager Paul Manafort, who was recently sentenced to more than seven years in prison following two cases related to the Mueller probe. Neither case alleged Russian collusion.

His departure signals the special counsel investigation is coming to a conclusion, one source told NPR. Weissmann has been a frequent target of conservative legal interest groups and supporters of the president. Author Michael Wolff said former Trump advisor Steve Bannon told him that Weissmann was like "the LeBron James of money laundering investigations."

"Andrew is attacked because he is feared; those under investigation know just how effective he is," former Enron prosecutor Kathryn Ruemmler said. "He has not only peerless technical skills, but the fearlessness necessary for pursuing high profile, complex cases and a passionate commitment to seeing justice is done."

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Throughout his career, Weissmann has taken on organized crime figures, corporate fraud and other complex cases.

"He took on New York's most feared organized crime families, unraveled the incredibly ornate frauds at Enron, and has tracked international criminals, exposing their carefully concealed financial dealings in many dark corners of the world," said Leslie Caldwell, who worked alongside Weissmann at the Justice Department and as a Brooklyn prosecutor.

Source: Fox News Politics

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German comedian loses case against Merkel over Erdogan poem

A German comedian has lost a court case against Chancellor Angela Merkel's description of a crude poem he wrote about Turkish President Recep Tayyip Erdogan as "deliberately hurtful."

Amid tensions with Turkey over a TV satire poking fun at Erdogan, Jan Boehmermann read the poem on television in 2016 to illustrate something he said wouldn't be allowed in Germany.

Merkel's spokesman said she considered the poem "deliberately hurtful," which Merkel later said was a mistake. Prosecutors dropped an investigation of Boehmermann for lack of evidence of any crime.

Berlin's administrative court on Tuesday rejected Boehmermann's bid to ban the government from repeating Merkel's assessment, since it was clear that wouldn't happen. It also found Merkel's comments weren't unlawful and didn't constitute "prejudgement" of the case against Boehmermann.

Source: Fox News World

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Vegan Feminist Cafe That Imposed 18% “Gender Surcharge” on Men Closes Down

A vegan feminist cafe in Australia that imposed an 18 per cent “gender surcharge” on men and gave women priority seating has closed down.

The Handsome Her cafe, which only opened a few years ago and was located in inner city Melbourne, described itself as “by women, for women”.

The venue attracted headlines in 2017 for challenging the “gender pay gap” (which doesn’t exist) by charging men extra.

At the time, the cafe’s management claimed the attention left them “jam-packed with customers showing their support”.

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Not anymore.

A notice on the cafe’s website says it’s closing for good on April 28.

The cafe attracted numerous negative reviews on Trip Advisor, with one man saying he had to deal with an “aggressive and irate woman” who called him a “vile beast” because he said he was dissatisfied with his meal.

Perhaps if the staff had focused on providing a good service for everyone and not discriminating against men, it might have been more profitable.

Source: InfoWars

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Woman arrested at Mar-a-Lago Club with 2 Chinese passports, malware, feds say

A woman illegally entered President Trump's Mar-a-Lago club while in Florida over the weekend while carrying two Chinese passports and malware, federal prosecutors allege.

Yujing Zhang, 32, visited the president's Palm Beach club on Saturday and told a Secret Service agent at a security checkpoint that she wanted to use the pool, a criminal complaint filed in the U.S. District for the Southern District of Florida on Monday stated.

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According to the complaint, she showed the agent two Chinese passports and tried to determine whether she was on a membership list. Secret Service reportedly said she was not on the list, but a club manager thought she was related to a member of Mar-a-Lago with the same surname.

She didn't definitively say whether she was or not, and that "due to a potential language barrier issue," Zhang was able to enter Mar-a-Lago, Agent Samuel Ivanovich wrote in court documents.

Once inside, Zhang allegedly rode on a valet golf cart, and eventually told a receptionist she was at the club for a United Nations Chinese American Association event to take place later that day — an event which the receptionist knew wasn't scheduled.

Zhang told the Secret Service that she was there to attend a "United Nations Friendship Event" between China and the U.S., and said she was visiting Mar-a-Lago early to take photos of the property — seemingly contradicting her earlier statement that she was there to visit the pool. She reportedly showed Ivanovich an invitation in Chinese that he could not read.

The woman was allegedly removed from the property and "became verbally aggressive with agents" when she was interviewed.

SARAH PALIN SAYS IT WAS A 'GUT PUNCH' TO BE EXCLUDED FROM MCCAIN FUNERAL

Ivanovich said it was clear Zhang could speak and read English well, and said she claimed to have traveled from Shanghai to Florida after someone named "Charles," whom she met on a Chinese social media app, told her to "attend this event and attempt to speak with a member of the President's family about Chinese and American foreign economic relations."

Zhang also denied she told agents she was at the beach club to swim in the pool.

The agent said Zhang carried four cellphones, a laptop computer, an external hard drive and a thumb drive containing computer malware. She did not have a swimsuit.

Zhang has been charged with making false statements to federal agents and illegally entering a restricted area. She remains in custody pending a hearing next week.

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There is no indication Zhang was ever near the president, who was golfing at Trump International Golf Club in West Palm Beach on Saturday.

There is also no indication that she is connected to Li Yang, a Chinese native, Republican donor and former Florida massage parlor owner. Yang recently made news after it was learned she was allegedly promising Chinese business leaders, via her consulting firm, access to Mar-a-Lago where they could mingle with the president.

The Secret Service told Fox News on Tuesday that "this is an ongoing investigation," but would not comment on the case.

Fox News' Heather Lacy and John Roberts and The Associated Press contributed to this report.

Source: Fox News National

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California engineer allegedly tried to poison, kill colleague with ‘toxic amount of cadmium,’ police say

A chemical engineer in Northern California was arrested last week on attempted murder charges after allegedly poisoning his coworker's water and food with toxic metal cadmium over several years, according to court records.

David Xu, a 34-year-old senior materials engineer at Berkeley Engineering And Research, was arrested Thursday, jail records online showed.

Court documents obtained by KTVU stated that a female coworker, also an engineer, noted "a strange taste or smell from her water and food" that was left unattended in her office that happened many times over the course of more than a year.

After consuming the food or water, the unnamed coworker experienced "immediate and significant health problems," even going to the hospital for emergency care.

ARKANSAS MEN IN BULLETPROOF VESTS SHOOT EACH OTHER AFTER NIGHT OF DRINKING, INVENT ELABORATE COVER STORY: COPS

Two of the women's relatives after got sick after drinking from her water bottle in November and December, Berkeleyside reported.

Surveillance video from the victim's office showed that Xu added a substance to the woman's water bottle, according to police. Later testing of the bottle and all three victims revealed the presence of cadmium, a toxic metal.

The Centers for Disease Control and Prevention says in an online factsheet that cadmium is considered a "cancer-causing agent."

"When eaten, large amounts of cadmium can severely irritate the stomach and cause vomiting and diarrhea," the agency states. "Breathing high levels of cadmium damages people’s lungs and can cause death."

PENNSYLVANIA MAN WHO LIED ABOUT MILITARY SERVICE, LIES ABOUT ADDICTION PROGRAM -- AND JUDGE DROPS THE HAMMER

Xu is charged with 3 felonies, including premeditated attempted murder and poisoning for the incidents involving the woman and her relatives.

In a court appearance on Tuesday, the 34-year old did not enter a plea.

"These are allegations, only allegations," defense attorney Julia Jayne told reporters outside of court. "Charges have been filed, and I think all of you and the public knows that when charges are brought, an individual, per our constitutional system, is presumed innocent, and that's exactly how I intend to proceed with this case."

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Xu remains held without bail, pending his next appearance in court, according to KTVU.

The 34-year-old earned three degrees from the University of California, Berkeley, including a Ph.D. In 2013, he passed the State of California's Professional Engineering examination, the San Francisco Business Times reported at the time.

Source: Fox News National

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Money-Supply Growth Slows in February

Money supply growth slowed in February, falling to the lowest rate recorded since February of last year.

Overall, money-supply growth remains well below the growth rates experienced from 2009 to 2016, and has fluctuated little since March of last year

In February, year-over-year growth in the money supply was at 3.1 percent. That was down from January’s growth rate of 3.3 percent, but was up from February 2018’s rate of 3.0 percent.

The money-supply metric used here — the “true” or Rothbard-Salerno money supply measure (TMS) — is the metric developed by Murray Rothbard and Joseph Salerno, and is designed to provide a better measure of money supply fluctuations than M2. The Mises Institute now offers regular updates on this metric and its growth.

This measure of the money supply differs from M2 in that it includes treasury deposits at the Fed (and excludes short-time deposits, traveler’s checks, and retail money funds).

M2 growth fell in February, growing 4.2 percent, compared to January’s growth rate of 4.3 percent. M2 grew 4.1 percent in February of last year. Like the TMS measure, the M2 growth rate has fallen considerably since late 2016, but has varied little in recent months.

Money supply growth can often be a helpful measure of economic activity. During periods of economic boom, money supply tends to grow quickly as banks make more loans. Recessions, on the other hand, tend to be preceded by periods of falling money-supply growth.

Many factors contribute to these trends. In recent months, money supply growth — in both M2 and TMS — has likely been impacted by falling growth rates in real estate loans at commercial banks. In February, real estate loans grew 2.9 percent, year over year, which was a 51-month low. The demand for mortgage loans has softened as mortgage rates have risen. In February, the 30-year, fixed average mortgage rate reached 4.4 percent, which was down from November’s recent high of 4.87. February 2018’s average mortgage rate was much lower, however, coming in at 4.33 percent. However, the Fed has recently signaled it plans to half increases in the target rate, and this may lead to more real-estate loan activity.

Source: InfoWars

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Avengers fans gather at the TCL Chinese Theatre in Hollywood to attend the opening screening of
Avengers fans gather at the TCL Chinese Theatre in Hollywood to attend the opening screening of “Avengers: Endgame” in Los Angeles, California, U.S., April 25, 2019. REUTERS/Mike Blake

April 26, 2019

LOS ANGELES (Reuters) – Marvel Studios superhero spectacle “Avengers: Endgame” hauled in a record $60 million at U.S. and Canadian box offices during its Thursday night debut, distributor Walt Disney Co said.

Global ticket sales for the film about Iron Man, Hulk and other popular characters reached $305 million for the first two days, Disney said.

(Reporting by Lisa Richwine; Editing by Chizu Nomiyama)

Source: OANN

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Funeral of journalist Lyra McKee in Belfast
Labour Party leader Jeremy Corbyn attends the funeral service for murdered journalist Lyra McKee at St Anne’s Cathedral in Belfast, Northern Ireland April 24, 2019. Brian Lawless/Pool via REUTERS

April 26, 2019

LONDON (Reuters) – The leader of Britain’s opposition Labour Party, Jeremy Corbyn, said on Friday he had turned down an invitation to a state dinner which will be part of U.S. President Donald Trump’s visit to Britain in June.

“Theresa May should not be rolling out the red carpet for a state visit to honor a president who rips up vital international treaties, backs climate change denial and uses racist and misogynist rhetoric,” Corbyn said in a statement.

He said maintaining the relationship with the United States did not require “the pomp and ceremony of a state visit” and he said he would welcome a meeting with Trump “to discuss all matters of interest.”

(Reporting by Andy Bruce; Writing by William Schomberg)

Source: OANN

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Libyan Minister of Economy Ali Abdulaziz Issawi speaks during an interview with Reuters in Tripoli
Libyan Minister of Economy Ali Abdulaziz Issawi speaks during an interview with Reuters in Tripoli, Libya April 25, 2019. REUTERS/Hani Amara

April 26, 2019

By Ulf Laessing

TRIPOLI (Reuters) – Libya’s U.N.-recognized government has budgeted up to 2 billion dinars ($1.43 billion) to cover costs of a three-week-old war for control of the capital, such as treatment for the wounded, to be funded without new borrowing, the economy minister said.

Ali Abdulaziz Issawi suggested the government hoped for business to continue more or less as usual despite the assault on Tripoli, in the country’s northwest, by forces tied to a parallel administration based in the eastern city of Benghazi.

Once Africa’s third largest producer of oil, Libya has been riven by factional conflict since the fall of Muammar Gaddafi in 2011, with the country now broadly split between eastern-based forces under Khalifa Haftar and the U.N.-backed government in Tripoli, in the west, under Prime Minister Fayez al-Serraj.

Still, with Haftar’s Libyan National Army forces unable so far to pierce defenses in Tripoli’s southern suburbs, normal life and business activities continue in much of the capital and western coastal towns.

Issawi, in an interview with Reuters in his Tripoli office, also said Libya’s commercial ports and wheat imports were still functioning normally, although some roads have been blocked.

He said the Serraj government estimates it will spend up to 2 billion dinars extra on medical treatment for wounded, aid for displaced people and other “emergency” war costs.

He said this was not military spending but analysts believe that the sum will also cover expenditures such as pay for allied armed groups or food for fighters.

“We could actually spend less,” he added, in comments that gave the first insight into the economic impact of the fighting.

Issawi said the Tripoli government, which controls little territory beyond the greater capital region, would not incur new debt to fund the war costs, sticking to a plan to post a 2019 budget without a deficit.

Tripoli derives revenue largely from oil and natural gas production, interest-free loans from local banks to the central bank, and a 183 percent surcharge on foreign exchange transactions conducted at official rates.

But with centralized tax collection greatly diminished, public debt has piled up – to 68 billion dinars in the west, including unpaid state obligations such as social insurance.

Some analysts expect Serraj’s government will be forced to raise new debt if the war for control of Tripoli drags on.

With much of Libya dominated by armed factions that also act as security forces, the public wage bill for both the western and eastern administrations has soared as fighters have been made public employees in efforts to buy their loyalty.

The east has sold bonds worth 35 billion dinars outside the official financial system as the Tripoli central bank does not fund the parallel government apart from some wages.

Despite its limited reach, the Tripoli government still runs an annual budget of around 46.8 billion dinars, mainly for public salaries and fuel subsidies.

“This year we cannot finance via debt…we will not borrow (by agreement with the central bank),” Issawi said.

According to International Monetary Fund data, Libya’s central government debt-to-GDP ratio is 143 percent, making it one of the most heavily indebted in the world on that measure.

Issawi declined to say what parts of the budget would be trimmed to support the extra outlay for war costs.

However, with some 70 percent of the budget allocated to public wages, fuel subsidies and other welfare benefits, a portion devoted to infrastructure is most likely to be axed.

Widespread lawlessness has meant there have been no major infrastructural projects since 2011, when a NATO-backed uprising overthrew dictator Muammar Gaddafi, leaving schools, hospitals and roads in acute need of restoration.

FOREX SURCHARGE

Issawi said the government planned to raise as much as 30 billion dinars by the end of 2019 from hard currency deals after imposing in September a 183 percent surcharge on commercial and private transactions done on the official rate of 1.4 to the U.S. dollar. That fee has effectively devalued the official rate to 3.9, much closer to the black market equivalent.

Some 17 billion dinars have been raised since then, with hard currency allocated for import credit letters now issued without delays, Issawi said. The forex fee has helped the government forecast a budget in the black for 2019.

Despite the narrowing spread between the two rates, the black market continues to thrive. Dozens of traders remained at their favorite spot behind the central bank headquarters in Tripoli when Reuters reporters visited it last week.

But traders said it could take time for the Serraj government to register the extra forex receipts as official banking channels were taking up to six months to approve import financing, keeping the black market in play for dealers.

Issawi said authorities planned to lower the forex fee from 183 percent, without saying when. The black market rate has dropped from 6 to around 4.1 since September but it has hardly moved of late as demand for black market cash remains high.

The Tripoli government has stopped subsidizing food and bread, which used to be cheaper than drinking water in Libya. Wheat imports are now being arranged by private traders and there are surplus stocks of flour at the moment, Issawi said.

(Reporting by Ulf Laessing in Tripoli with additional reporting by Karin Strohecker in London; Editing by Mark Heinrich)

Source: OANN

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Rep. Gerry Connolly, D-Va., threatened possible jail time for White House officials refusing to comply with subpoenas to testify before the House Oversight Committee.

Connolly, a member of the House panel, made his comments during an interview on CNN on Thursday. He said that “if a subpoena is issued and you’re told you must testify, we will back that up.”

He added: “And we will use any and all power in our command to make sure it’s backed up — whether that’s a contempt citation, whether that’s going to court and getting that citation enforced, whether it’s fines, whether it’s possible incarceration.”

“We will go to the max to enforce the constitutional role of the legislative branch of government.”

His comments came after three officials have refused to comply with congressional requests to testify, CNN noted.

Trump told The Washington Post that his staff should not testify on Capitol Hill, explaining that the White House cooperated fully with special counsel Robert Mueller and “there is no reason to go any further, especially in Congress where it’s very partisan.”

Source: NewsMax Politics

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“Outdated laws” need fixing to deal with the surge in illegal immigrant families crossing the U.S. border with Mexico, a top Border Patrol official said Friday.

Migrant families face no consequences if apprehended trying to cross the border illegally under present law, Border Patrol chief of Operations Brian Hastings claimed during an appearance on “Fox & Friends.”

“We need a change in the current outdated laws that we’re dealing with for this current demographic and this crisis that we have,” he said.

Hastings said as of Thursday there have been 440,000 apprehensions along the southwest border. There were 396,000 apprehensions all of last year.

SOUTHERN BORDER AT ‘BREAKING POINT’ AFTER MORE THAN 76,000 ILLEGAL IMMIGRANTS TRIED CROSSING IN FEBRUARY, OFFICIALS SAY

And those numbers continue to rise, he said.

Historically 70 to 90 percent of apprehensions at the border were quickly returned to Mexico, Hastings said.

Now, 83 percent of those apprehended have come from the Central American northern triangle which includes Guatemala, El Salvador, and Honduras, and of those 63 percent are “family units” and children who cannot be returned, he said.

“There are no consequences that we can apply to this group currently,” Hastings said. “We’re overwhelmed. If you look at agents there doing a tremendous job trying to deal with the flow.”

The law dictates children have to be released after 20 days of detention.

FLORIDA SHERIFF ON BORDER CRISIS AFTER MAJOR DRUG BUST: ‘IT MAKES ME ABSOLUTELY CRAZY’

Sen. Lindsey Graham, R-S.C., says that has forced immigration officials to release entire families because “you don’t want to separate families.”

Recently, he said he is drafting legislation that would allow children to be detained for more than 20 days.

Hastings said agents are frustrated with the situation but are doing the best they can with the resources they have.

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“Up to 40 percent of our agents are processing at any given time,” he said. “That should say that in and of itself is pulling from those border security resources.”

Source: Fox News National

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