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Exclusive: Toyota sees new business opportunity in leveraging hybrid tech

A Toyota Mirai fuel cell vehicle awaits final inspection at a Toyota Motor Corp. factory in Toyota
A Toyota Mirai fuel cell vehicle awaits final inspection at a Toyota Motor Corp. factory in Toyota in Aichi Prefecture, Japan, April 11, 2019. REUTERS/Joe White

April 12, 2019

By Naomi Tajitsu and Joseph White

TOYOTA CITY (Reuters) – The head of Toyota Motor Corp’s electric vehicle (EV) business told Reuters the automaker has received enquiries from more than 50 companies since announcing last week that it would offer free access to patents for EV motors and power control units.

The executive also said Toyota aims to use partnerships to cut by as much as half the outlays for expanded electric and hybrid vehicle components production in the United States, China and Japan.

“Until now we have been a tier 1 automaker, but now we also intend to become a tier 2 supplier of hybrid systems,” Toyota Executive Vice President Shigeki Terashi said.

Supplying rivals would greatly expand the scale of production for hardware such as power control units and electric motors that are used in gasoline-electric hybrids, plug-in hybrids, fully electric vehicles and fuel cell vehicles, he added.

Toyota last week outlined plans to offer automakers and auto suppliers royalty-free access to nearly 24,000 electrified vehicle technologies patented by the Japanese auto giant.

In an interview on Thursday at Toyota’s global headquarters in Toyota City, Japan, Terashi provided new details of Toyota’s strategy, and its anticipated impact on the company’s investment plans.

By offering to supply rival automakers with parts used in Toyota’s gasoline-sipping hybrid vehicles, the Japanese automaker sees a way to slash capital outlay by roughly half for new plants required to build electric car components for future models, Terashi said.

“We believe that this approach will reduce investment costs significantly,” he said.

Terashi said Toyota projects a surge in demand for electrified vehicles globally as regulators insist new vehicles emit substantially less carbon dioxide, and that working with Toyota would offer others a low-cost path to compliance.

Toyota’s internal goal is to sell 5.5 million electrified, Toyota-brand vehicles annually by 2030, up from about 1.6 million vehicles now, he said.

Already, Terashi said, Toyota believes it could reach the 5.5 million target as early as 2025. The company is working on plans for a new round of capital spending to expand capacity for producing the hardware required.

By offering to supply electric vehicle hardware, and the know-how to integrate it into vehicles, Terashi said Toyota wants to reduce its capital outlay, and create a new source of revenue.

“We anticipate that there will probably be very few automakers who use our patents to develop their own hybrids from scratch, so by using our system and our components, and offering our support, we can work together to develop these cars,” Terashi said.

In the last 20 years, Toyota has managed to dominate the global market for hybrid cars by constantly improving and lowering the cost of the technology it pioneered in the Prius – and keeping this expertise a closely guarded secret.

Toyota’s new business foray underlines the challenges facing even the largest global automakers as they confront some of the most profound technological changes for automobiles in a century.

Toyota is now trying to take advantage of its lead in refining hybrid vehicles, even as it runs behind global rivals such as Volkswagen AG and Tesla Inc in bringing fully electric vehicles to showrooms.

Since pioneering the Prius in 1997, Toyota has sold more than 13 million hybrids, which twin a conventional gasoline engine and electric motor, saving fuel by capturing energy during coasting and breaking and using it to power the motor.

Roughly 15 percent of Toyota’s annual global sales are hybrids, including the Corolla and the RAV4. Last year it sold 1.6 million hybrids globally, more than the 1.3 million all-battery EVs sold by Tesla Inc, Nissan Motor Co and all other automakers combined.

To meet the expected surge in hybrid demand, Terashi said he is planning to increase production capacity for hybrid components mainly by adding capacity at existing plants.

Toyota has initially courted its partner automakers. It already supplies the plug-in hybrid system for Subaru Corp’s Crosstrek SUV crossover model, and last month Toyota announced that it would be a global supplier of hybrid systems to compact car maker Suzuki Motor Co.

The success of the Prius has helped to brand Toyota as a maker of affordable, reliable green cars and has been key to the automaker’s reputation as a leader in low-emissions vehicle technology.

Terashi brushed off the risk that Toyota could lose this edge by offering its hybrid technology to other automakers, arguing that it held a crucial, 20-year head start over its rivals.

“Even if an automaker is able to develop and produce a car using our systems and parts which complies with emissions regulations, its overall performance would never be the same as ours,” he said.

(Reporting by Naomi Tajitsu and Joseph White; Additional reporting by Maki Shiraki; Editing by Christopher Cushing)

Source: OANN

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Kellyanne Conway: There’s ‘Trouble in Pelosi Paradise’

White House counsel Kellyanne Conway on Sunday taunted House Speaker Nancy Pelosi, D-Calif., asserting there’s rancor among the Democrat rank-and-file that’s causing “trouble in Pelosi paradise.”

In an interview on NBC News’ “Meet The Press,” Conway declared new Democrat House members are “upset with the leadership.”

“There is a great frustration against rank and file members who represent districts that President [Donald] Trump won in 2016,” she said. “They have been to the White House, talked to people like me quietly, saying they wish that the radical… freshmen who get the magazine covers and all the ink and air time, I guess they are upset with the leadership today.”

Conway went on, saying Rep. Rashida Tlaib, D-Mich., “tweeted they are tired of being used because the party is diverse, can't get a seat at the table, something… re-tweeted by [Rep.] Ilhan Omar [D-Minn.].”

“I think there is trouble in Pelosi paradise,” Conway said.

Conway also declared the immigration problems in the country could be fixed “easily” but that Democrats are too anti-Trump to get the job done.

“Congress can fix this easily,” she said. “All the time that they spend reacting to every single Donald Trump tweet or the president's statements, they can sit down and do three things.”

According to Conway, the three fixes would be to address trafficking victims, fix a judicial decision on filing asylum claims and to “fix the asylum law so those who actually have a credible claim of asylum can have that process faster. “

Related Stories:

Source: NewsMax Politics

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Sweden’s Veoneer bets driverless car delay will be its gain

FILE PHOTO: Jan Carlson, CEO of Veoneer, Inc., rings the opening bell to celebrate it's first day of trading on the floor of the NYSE in New York
FILE PHOTO: Jan Carlson, CEO of Veoneer, Inc., rings the opening bell to celebrate it's first day of trading on the floor of the New York Stock Exchange (NYSE) in New York, U.S., July 2, 2018. REUTERS/Brendan McDermid/File Photo

April 15, 2019

By Johannes Hellstrom and Esha Vaish

STOCKHOLM (Reuters) – Sweden’s Veoneer expects to gain from a commercial delay in self-driving cars, betting that rising demand for its radar and camera-based systems as the industry ramps up to autonomy will boost its market position.

Forecasts on when autonomous vehicles will become a commercial reality have been receding, with most analysts now expecting broad-based adoption to take another decade as accidents in early testing have raised fresh concerns about regulation, technology and cost.

Veoneer, seen by many investors as a play on autonomous driving, has suffered as a result. Weak car markets, delayed 2020 targets and cash concerns also contributed to a 36 percent drop in Veoneer’s stock over the past six months.

Chief Technology Officer Nishant Batra, however, said that by being more selective following its investment and product portfolio review, Veoneer could position itself to scale up more efficiently and set the foundation for the future.

He said increasing requirements for active safety features to get top ratings in car safety assessment schemes such as the European New Car Assessment Program (Euro NCAP) would be the big market driver for the coming years.

Veoneer’s base case is that the market for its active safety products will soar to $24 billion in 2025, from $7 billion in 2018.

“We have always focused on getting the portfolio ready for attacking that demand,” Chief Technology Officer Nishant Batra said. He added that the bigger role in the market for camera and vision systems coupled with software for combining data from different sensors was a “sweet spot” for the company.

Some analysts are skeptical. UBS repeated its “sell” rating on Veoneer in a note on Monday, citing worries over the company’s growth as well as capital concerns.

STEREO CAMERA

Loss-making Veoneer kept its $4 billion sales target for 2022 intact and reported a 95 percent jump in active safety order bookings last year, but the delay of its 2020 targets increased concerns it might run short of capital before sales kick in and be unable to keep up with better-capitalized rivals.

While Veoneer and rivals Continental and Bosch all have mono- and stereo camera systems with internally developed software, U.S.-based Aptiv has focused on mono cameras with much success, sourcing algorithms from vision software market leader Mobileye, owned by Intel.

Deutsche Bank, which rates Veoneer a “sell”, said in February the company faced “big near term challenges” from high investment costs, adding it had longer-term questions about the differentiation of Veoneer’s technology, a risk to its competitiveness and margins.

Veoneer believes driver monitoring will be an important area, with sensor fusion between the inward-looking and outward looking camera underway, and Batra said thermal imagery and camera fusing was also being increasingly discussed.

He said the move from the so-called level 1 to level 2 opened up the market for sensor fusion software, which can be monetized through added advanced driver assistance systems (ADAS).

Cars are classified on a 0-5 autonomy scale, with level 2 partially automated, level 3 conditionally automated, and level 4 highly automated and capable of performing all driving functions under certain conditions.

“This market has suddenly come alive for us. When you go from level 1 to level 3, some of the centralization of computing already starts,” he said.

Batra said Veoneer’s main driverless push, Zenuity – the ADAS and autonomous drive software joint venture with Volvo Cars – should be seen as self-sustaining with its software used for both sensor fusion and Level 4 products.

“This also helps the OEMs (carmakers) get ready for the eventual journey toward level 4, so we see this market take off and we have won some good initial contracts in this space.”

(Reporting by Johannes Hellstrom and Esha Vaish; editing by Emelia Sithole-Matarise)

Source: OANN

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Nigerian troops forced 10,000 people to leave northeast town: U.N

FILE PHOTO: Nigerian military secure an area where a man was killed by suspected militants near Maiduguri
FILE PHOTO: Nigerian military secure an area where a man was killed by suspected militants near Maiduguri, Nigeria, February 16, 2019. REUTERS/Afolabi Sotunde/File Photo

April 11, 2019

By Tom Miles

GENEVA (Reuters) – Nigerian troops forced the entire population of a town of 10,000 people in northeastern Borno state to relocate without warning on Monday, the United Nations said on Thursday.

A U.N. statement said soldiers moved the people of Jakana to a camp in the city of Maiduguri about 40 km (25 miles) away, some arriving with “nothing, not even shoes on their feet”.

The armed forces were conducting an operation to flush out Islamist Boko Haram insurgents, Abdulmalik Bulama Biu, a commanding officer in the northeast, said without elaborating.

The military and government returned nearly 5,000 Jakana residents to the town on Thursday, Nigeria’s National Emergency Management Agency said on its official Twitter account.

Jakana residents said the military was screening the population for members of Boko Haram.

The northeast of Nigeria, sub-Saharan Africa’s biggest energy producer, is the main battleground in its decade-long fight against Boko Haram and fellow Islamist insurgent group Islamic State West Africa Province.

A surge in militant attacks in December in which towns and military bases were overrun put tens of thousands of civilians to flight into Maiduguri, swelling the population of existing camps.

“The entire town of Jakana was emptied, and people were forced to move to Maiduguri with very little time to collect personal belongings,” Edward Kallon, U.N. humanitarian coordinator for Nigeria, said in the statement.

Last June, the Nigerian government ordered thousands of people to leave the relative safety of their camp in Maiduguri to live in a town in an unsafe area as pressure mounted to show progress in the war against militants ahead of elections, sources familiar with the situation said. In September, the town was attacked, forcing the population to flee.

(Reporting by Tom Miles in Geneva; Additional reporting by Ola Lanre in Maiduguri; Writing by Paul Carsten; Editing by Mark Heinrich)

Source: OANN

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Exclusive: Germany sees 8.86 billion euro cost to operate Tornado jets through 2030

FILE PHOTO - A technician works on a German Tornado jet at the air base in Incirlik
FILE PHOTO - A technician works on a German Tornado jet at the air base in Incirlik, Turkey, January 21, 2016. REUTERS/Tobias Schwarz/Pool

April 10, 2019

BERLIN (Reuters) – The German Defence Ministry estimates it will cost nearly 9 billion euros to replace obsolescent parts and keep its aging fleet of 93 Tornado fighter jets flying until 2030, according to a classified document provided to German lawmakers this week.

The steep cost estimate includes 5.64 billion euros to maintain the warplanes, which first entered service in 1983, 1.62 billion euros to design replacements for obsolete parts, and 1.58 billion euros to procure them, according to the document, which was viewed by Reuters.

Germany in January decided to pick either the Eurofighter or Boeing Co’s F/A-18E/F fighter jet to replace its Tornado fleet in coming years, dropping Lockheed Martin’s F-35 stealth fighter from a tender worth billions of euros..

But neither the F/A-18 nor the Eurofighter are currently certified to carry U.S. nuclear weapons, as required under Germany’s obligations to NATO, leaving Germany dependent on its Tornado fleet until it gets new planes.

(Reporting by Andrea Shalal, editing by Thomas Escritt)

Source: OANN

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Sudanese vow to keep protesting as president digs in

Three months after Sudanese protesters rose up against President Omar al-Bashir, the longtime autocrat has bound himself more tightly to the military and refuses to bow to their demands.

The wily 74-year-old has remained in power through three decades of war and sanctions, the secession of Sudan's oil-rich south in 2011 and an international arrest warrant for genocide and war crimes linked to the Darfur conflict.

But since December he has faced the biggest protests of his long rule, with political parties and unions demanding his ouster and demonstrators chanting slogans from the 2011 Arab Spring.

A look at where things stand, three months on.

DAILY PROTESTS

Demonstrators are still taking to the streets nearly every day despite a heavy crackdown by security forces. The largest protests are being held in the capital, Khartoum, and nearby Omdurman, with smaller ones breaking out elsewhere.

Activists said in early February that 57 people had been killed, while the government put the toll at 31, including police. Neither has updated those figures since then, even as clashes have regularly erupted, with police dispersing protesters with tear gas, rubber bullets, live ammunition and batons. Hundreds of people have been arrested and are still behind bars.

The umbrella group of independent professional unions that has been spearheading the protests is sticking to its demands that al-Bashir's administration be replaced with an interim government that would prepare the country for new elections.

Sarah Abdel-Jaleel, a spokeswoman for the group, said they call for a "total change of the regime to meet the aspirations of the Sudanese people."

"There is no room for compromises with this regime. History tells us that dialogue with the regime was not fruitful," she said. "We will continue our peaceful resistance."

___

GOVERNMENT CLOSES RANKS

Al-Bashir has offered little in the way of concessions, beyond calling for a national dialogue and asking parliament to postpone constitutional amendments that would allow him to seek a new term in next year's elections.

Instead, he has bound himself more tightly to the country's feared security forces, replacing all state governors with senior military officers. He has declared a state of emergency, banned all unauthorized gatherings and given security forces sweeping powers to try and quash the protests.

Al-Bashir also dissolved the government last month. But his hand-picked prime minister on Wednesday announced a new Cabinet that keeps the defense and foreign ministers in place.

Al-Bashir stepped down as leader of the National Congress party but handed power to hard-line Islamist Ahmed Harun, who is also wanted by the International Criminal Court on charges linked to the conflict in Darfur in the 2000s.

Al-Bashir's embrace of the military appears to be aimed at avoiding a repeat of the coup that brought him to power in 1989.

___

INTERNATIONAL SILENCE

Al-Bashir has been isolated internationally for most of the time he has been in office. Western countries expressed concern about the violence in the early days of the protests, but have been largely silent since then.

Arab countries have meanwhile remained largely neutral, fearing any revival of the Arab Spring protests that swept the region in 2011 but also viewing al-Bashir as an unreliable ally.

The longtime leader has courted various Gulf states in recent years, playing both sides in the Saudi-Qatari rivalry without strongly committing to either. Relations with neighboring Egypt have oscillated over a longstanding border dispute and the construction of a major hydroelectric dam in Ethiopia that threatens to cut into both countries' share of the Nile.

In the absence of strong international pressure, the deadlock between the protesters and the government looks set to continue. For now, both sides appear to think that time is on their side.

Source: Fox News World

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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

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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

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Baltimore Mayor Catherine Pugh, who is facing increased calls for her immediate resignation, remains in poor health and is not “lucid” enough to decide whether to step down, her attorney told reporters late Thursday.

Steve Silverman, speaking outside one of Pugh’s residences which was raided by the FBI and IRS earlier in the day, said the embattled city leader could make a decision as early as next week.

“She is leaning toward making the best decision in the best interest in the citizens of Baltimore City,” he said, adding that Pugh has “several options” to consider.

“She just needs to be physically and mentally sound and lucid enough to make appropriate decisions.”

BALTIMORE MAYOR CATHERINE PUGH, ON LEAVE AMID BOOK PROBE, HAS HOMES AND CITY HALL OFFICE RAIDED BY FEDS

Silverman said Pugh met with a doctor at home Thursday and plans to do so again Friday, the Baltimore Sun reported.

In the latest image-tarnishing scandal for struggling Baltimore, the first-term Democratic mayor faces accusations that she used children’s book deals to cover up kickbacks for favorable treatment as a state lawmaker and city leader that earned her roughly $800,000 over several years.

BALTIMORE’S ACTING MAYOR SAYS HE ‘WOULD HATE TO SEE’ EMBATTLED MAYOR RETURN AFTER BOOK SCANDALS

As a state senator, 69-year-old Pugh sold $500,000 worth of her self-published “Healthy Holly” illustrated paperbacks to the University of Maryland Medical System, a major state employer whose board she sat on for nearly 20 years.

Baltimore police officers stand outside the house of Baltimore Mayor Catherine Pugh in Baltimore, MD., Thursday, April 25, 2019. Agents with the FBI and IRS are gathering evidence inside the two homes of Pugh and also in City Hall. (AP Photo/Jose Luis Magana)

Baltimore police officers stand outside the house of Baltimore Mayor Catherine Pugh in Baltimore, MD., Thursday, April 25, 2019. Agents with the FBI and IRS are gathering evidence inside the two homes of Pugh and also in City Hall. (AP Photo/Jose Luis Magana)

UMMS reportedly paid Pugh for 100,000 copies of her books between 2011 and 2018 with the stated intention of distributing the books to schools and day care centers. But some 50,000 copies remain unaccounted for and officials are probing if they were even printed.

Pugh also made $300,000 in bulk sales to other customers including health carriers that did business with the city of Baltimore.

BALTIMORE CITY COUNCIL CALLS ON EMBATTLED MAYOR CATHERINE PUGH TO RESIGN IMMEDIATELY

The politically isolated Pugh slipped out of sight on April 1 after a hastily organized press conference where she called her no-contract book deals a “regrettable mistake.” That same day, Maryland’s governor called on the state prosecutor to investigate allegations of “self-dealing.”

Pugh took an indefinite leave of absence, citing her health deteriorating intensely after a bout with pneumonia.

Federal agents arrive at the Maryland Center for Adult Training in Baltimore. MD, Thursday, April 25, 2019. Agents with the FBI and IRS are gathering evidence inside the two homes of Baltimore Mayor Catherine Pugh and in City Hall, as well as the office of her lawyer and the home of a top aide.

Federal agents arrive at the Maryland Center for Adult Training in Baltimore. MD, Thursday, April 25, 2019. Agents with the FBI and IRS are gathering evidence inside the two homes of Baltimore Mayor Catherine Pugh and in City Hall, as well as the office of her lawyer and the home of a top aide. (Loyd Fox/Baltimore Sun via AP)

On Thursday morning, agents with the FBI and IRS searched her two Baltimore homes, her City Hall offices, and a nonprofit organization she once led. The home of at least one of Pugh’s aides was also scoured.

Silverman said federal agents also served a subpoena at his law firm, retrieving Pugh’s original financial records. They did not seek any attorney-client privileged communications, he said.

Pugh’s attorney said she was “emotionally extremely distraught” following the searches by FBI and IRS agents.

“There was nothing incriminating that came out of her home,” Silverman said.

UMMS spokesman Michael Schwartzberg told reporters that the medical system received a grand jury witness subpoena seeking documents and information related to Pugh.

Other probes against Pugh include a review by the city ethics board and the Maryland Insurance Administration.

BALTIMORE MAYOR’S $500G DEAL FOR ‘HEALTHY HOLLY’ CHILDREN’S BOOKS DRAWS SCRUTINY

In recent weeks, the calls for Pugh’s resignation have intensified with the strongest voice coming from Republican Gov. Larry Hogan, who did not mince words after Thursday’s early morning raids.

“Now more than ever, Baltimore City needs strong and responsible leadership. Mayor Pugh has lost the public trust,” he said. “She is clearly not fit to lead. For the good of the city, Mayor Pugh must resign.”

Federal Bureau of Investigation, and Internal Revenue Service agents search the home of Baltimore Mayor Catherine Pugh in Baltimore, MD., Thursday, April 25, 2019. Agents with the FBI and IRS are gathering evidence inside the two homes of Baltimore Mayor Catherine Pugh and in City Hall.

Federal Bureau of Investigation, and Internal Revenue Service agents search the home of Baltimore Mayor Catherine Pugh in Baltimore, MD., Thursday, April 25, 2019. Agents with the FBI and IRS are gathering evidence inside the two homes of Baltimore Mayor Catherine Pugh and in City Hall. (Jerry Jackson/Baltimore Sun via AP)

Many of her fellow Democrats, including those on Baltimore’s demoralized City Council and state lawmakers, are also insisting that Pugh put the citizens’ interests above any attempt to preserve her political career.

City Council member Brandon Scott called the Thursday raids “an embarrassment to the city.”

However, only a conviction can trigger a mayor’s removal from office, according to the city solicitor. Baltimore’s mayor-friendly City Charter currently provides no options for ousting its executive.

Six of Pugh’s staffers joined her on paid leave earlier this month; three of them were fired this week by the acting mayor.

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Pugh came to office in late 2016 after edging out ex-Mayor Sheila Dixon, who had spent much of her tenure fighting corruption charges before being forced to depart office in 2010 as part of a plea deal connected to the misappropriation of about $500 in gift cards meant for needy families.

She would certainly face a bruising 2020 Democratic primary if she were to return and run for reelection. Veteran City Council leader Bernard “Jack” Young, who is serving as acting mayor, said as she went on leave that he would merely be a placeholder. But this week, before the raids, he said “it could be devastating for her” if she tried to return.

The Associated Press contributed to this report.

Source: Fox News National

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FILE PHOTO: Cases of Pepsi are shown for sale at a store in Carlsbad
FILE PHOTO: Cases of Pepsi are shown for sale at a store in Carlsbad, California, U.S., April 22, 2017. REUTERS/Mike Blake/File Photo

April 26, 2019

By Amit Dave and Mayank Bhardwaj

AHMEDABAD/NEW DELHI (Reuters) – PepsiCo Inc has sued four Indian farmers for cultivating a potato variety that the snack food and drinks maker claims infringes its patent, the company and the growers said on Friday.

Pepsi has sued the farmers for cultivating the FC5 potato variety, exclusively grown for its popular Lay’s potato chips. The FC5 variety has a lower moisture content required to make snacks such as potato chips.

PepsiCo is seeking more than 10 million rupees ($142,840.82) each for alleged patent infringement.

The farmers grow potatoes in the western state of Gujarat, a leading producer of India’s most consumed vegetable.

“We have been growing potatoes for a long time and we didn’t face this problem ever, as we’ve mostly been using the seeds saved from one harvest to plant the next year’s crop,” said Bipin Patel, one of the four farmers sued by Pepsi.

Patel did not say how he came by the PepsiCo variety.

A court in Ahmedabad, the business hub of Gujarat, on Friday agreed to hear the case on June 12, said Anand Yagnik, the lawyer for the farmers.

“In this instance, we took judicial recourse against people who were illegally dealing in our registered variety,” A PepsiCo India spokesman said. “This was done to protect our rights and safeguard the larger interest of farmers that are engaged with us and who are using and benefiting from seeds of our registered variety.”

PepsiCo, which set up its first potato chips plant in India in 1989, supplies the FC5 potato variety to a group of farmers who in turn sell their produce to the company at a fixed price.

The All India Kisan Sabha, or All India Farmers’ Forum, has asked the Indian government to protect the farmers.

The farmers’ forum has also called for a boycott of PepsiCo’s Lay’s chips and the company’s other products.

The Ministry of Agriculture & Farmers’ Welfare did not immediately respond to an email seeking comment.

PepsiCo is the second major U.S. company in India to face issues over patent infringement.

Stung by a long-standing intellectual property dispute, seed maker Monsanto, which is now owned by German drugmaker Bayer AG, withdrew from some businesses in India over a cotton-seed dispute with farmers, Reuters reported in 2017. (reut.rs/2ncBknn)

(Reporting by Amit Dave in AHMEDABAD and Mayank Bhardwaj in NEW DELHI; Editing by Martin Howell and Louise Heavens)

Source: OANN

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FILE PHOTO: The Archer Daniels Midland Co (ADM) logo is displayed on a screen on the floor of the NYSE in New York
FILE PHOTO: The Archer Daniels Midland Co (ADM) logo is displayed on a screen on the floor of the New York Stock Exchange (NYSE) in New York, U.S., May 3, 2018. REUTERS/Brendan McDermid/File Photo

April 26, 2019

By P.J. Huffstutter and Shradha Singh

CHICAGO/BENGALURU (Reuters) – Archer Daniels Midland Co said on Friday it was considering spinning off its ethanol business after slim biofuel margins and Midwestern floods slammed the U.S. grains merchant’s profit, which tumbled 41 percent in the first quarter.

ADM said it was creating an ethanol subsidiary, which will include dry mills in Columbus, Nebraska; Cedar Rapids, Iowa; and Peoria, Illinois.

The ethanol subsidiary will report as an independent segment, the company said, allowing options “which may include, but are not limited to, a potential spin-off of the business to existing ADM shareholders.”

Results were hit by the “bomb cyclone” blizzards that devastated the Midwest and Great Plains this year, causing massive flooding across Nebraska, Iowa and Missouri, washing out rail lines and wreaking havoc in the moving and processing of corn, soybeans and wheat. One-sixth of U.S. ethanol production was halted.

In March, ADM warned Wall Street that flooding and severe winter weather in the U.S. Midwest would reduce its first-quarter operating profit by $50 million to $60 million.

“The first quarter proved more challenging than initially expected,” said Chairman and Chief Executive Officer Juan Luciano, with earnings down in its starches, sweeteners and bioproducts unit. Luciano said impacts of the severe weather ultimately “were on the high side of our initial estimates”.

Ongoing problems in the ethanol industry added to the problems and “limited margins and opportunities” for ADM, Luciano said.

The ethanol industry has been in the midst of a historic downswing due to the U.S.-China trade war, excess domestic supply and weak margins.

ADM, which had been an ethanol pioneer, signaled to Wall Street in 2016 that it was hunting for options and considering sales of its U.S. dry ethanol mills. Luciano told Reuters this year that offers ADM had received for the mills were too low.

In addition, ADM said it planned to repurpose its corn wet mill in Marshall, Minnesota, to produce higher volumes of food and industrial-grade starches.

Other major traders are alsy trying to distance themselves from struggling ethanol businesses. Louis Dreyfus Company BV spun off its Brazilian sugar and ethanol business Biosev in 2013. Rival Bunge sold its sugar book and has sought a buyer for its Brazilian mills since 2013.

ADM, which makes money trading, processing and transporting crops, such as corn, soybeans and wheat, has been looking to strengthen its core business. Last month it said it would seek voluntary early retirements of some North American employees and cut jobs as part of a restructuring effort.

The company expects to lower 2019 capital spending by 10 percent to between $800 million and $900 million.

Net earnings attributable to the company fell to $233 million, or 41 cents per share, in the three months ended March 31, from $393 million, or 70 cents per share, a year earlier.

Revenue fell to $15.30 billion from $15.53 billion. On an adjusted basis, the company earned 46 cents per share, while analysts on average had estimated 60 cents, according to IBES data from Refinitiv.

(Reporting by Shradha Singh in Bengaluru; Editing by Shounak Dasgupta, Chizu Nomiyama and David Gregorio)

Source: OANN

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