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President Trump calls on Adam Schiff to resign, accuses him of 'knowingly and unlawfully lying and leaking'

President Trump has called on House Intelligence Committee Chairman Adam Schiff to resign in a fiery early morning tweet.

The president sent out his missive Thursday morning, accusing the California Democrat of “knowingly and unlawfully lying and leaking”.

Trump’s tweet read: “Congressman Adam Schiff, who spent two years knowingly and unlawfully lying and leaking, should be forced to resign from Congress!”

The president made similar comments during an exclusive interview with Fox News’ Sean Hannity on Wednesday night.

TRUMP CALLS SCHIFF A 'DISGRACE' FOR PUSHING COLLUSION AGENDA, SAYS DEM MAY HAVE BROKEN LAW

“He should be forced out of office,” Trump told the host.

“He is a disgrace to our country.”

“In one way you could say it’s a crime what he did," Trump said of the California Democrat, "because … he was making horrible statements that he knew were false.

"He would go on, night after night, talking about collusion -- the collusion delusion," Trump said.

SCHIFF FACES MOUNTING GOP CALLS FOR RESIGNATION OVER COLLUSION CLAIMS

Special Counsel Robert Mueller’s report on Russian meddling in the 2016 presidential election found no evidence of a Trump-Russia conspiracy after a nearly two-year-long investigation that resulted in 37 indictments.

Schiff, a vocal critic of the president, has doubled down on his claim that Trump and his administration colluded with foreign powers despite Mueller’s findings.

“Undoubtedly, there is collusion,” Schiff told the Washington Post after Attorney General William Barr's four-page summary of Mueller's investigation was released Sunday. He told the paper that the question of whether Trump or the people around him were compromised by a hostile foreign power was not in any part of Mueller’s report.

In addition to Trump saying Schiff should leave office, other Republicans – including House Minority Leader Kevin McCarthy, R-Calif. -- called for Schiff to step down from his leadership of the intelligence committee.

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“I’ll tell you one thing about Russia,” Trump continued. “If they had anything on me, it would have come out a long time ago.”

Mueller’s report will be made public – with some parts redacted – in the coming weeks, according to Attorney General William Barr.

Source: Fox News Politics

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Connecticut diocese settles priest abuse lawsuits for $3.5M

A Roman Catholic diocese in Connecticut has agreed to pay $3.5 million to five men who alleged in lawsuits that they were sexually abused as children by priests.

The settlements involving three priests announced Wednesday by the Diocese of Bridgeport were reached following mediation with the law firm Tremont, Sheldon, Robinson and Mahoney representing the plaintiffs.

Two of the three accused were diocesan priests and have died. The third was a Maronite who worked at a church not overseen by the diocese. The Maronites paid for most of that portion of the settlement.

The suits alleged the abuse occurred from the late 1980s to the early 2000s in Bridgeport, Brookfield, Danbury and Ridgefield.

The diocese in a statement says it hopes the settlements "bring a measure of healing and justice to victims."

Source: Fox News National

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Erdogan again airs attack video at rally despite criticism

Ignoring widespread criticism, Turkish President Recep Tayyip Erdogan on Tuesday again showed excerpts of a video taken by the attacker who killed 50 people in mosques in New Zealand, to denounce what he called rising hatred and prejudice against Islam.

Speaking at a campaign rally in the northern town of Eregli, Erdogan also criticized New Zealand and Australia for sending troops to Turkey in the World War I Gallipoli campaign, claiming their motive was anti-Islam-oriented. He called on New Zealand to amend its laws to ensure that the attacker is severely punished.

"What business did you have here? We had no issues with you, why did you come all the way over here?" Erdogan said. "The only reason: we're Muslim, and they're Christian."

Erdogan told supporters: "If New Zealand fails to hold the attacker accountable, one way or another we will hold him to account."

Since the weekend, the Turkish leader has been using clips of the Christchurch attack to denounce Islamophobia during campaign rallies, as he tries to stoke nationalist and religious sentiments ahead of March 31 local elections.

The video, which was blurred but had clear sounds of automatic gunfire, has been shown to thousands of people at the rallies and aired live on Turkish television, despite efforts by New Zealand to halt its spread.

The video prompted widespread condemnation. Facebook said it removed 1.5 million versions of the video in the first 24 hours after the attack.

Turkey's main opposition party has also criticized Erdogan for showing the clip "for the sake of (winning) three or five votes" at the elections.

New Zealand Foreign Minister Winston Peters said Monday he told his Turkish counterpart the video doesn't represent New Zealand. Peters is due in Turkey later this week to attend a meeting of the Organization of Islamic Cooperation in Istanbul as an observer.

The New Zealand Embassy in Ankara also said Peters had raised the issue with a Turkish delegation in New Zealand. It said the embassy in Ankara and as well as other embassies worldwide had requested that media outlets not show the footage.

In inflammatory comments on Monday, Erdogan suggested that anyone who comes to Turkey with anti-Muslim sentiments would be sent back in coffins, "like their grandfathers were" during the Gallipoli campaign. He made the comments in Canakkale province, northwestern Turkey which is home to the historic battlefields, on the anniversary of a World War I Turkish naval victory.

Hundreds of New Zealanders and Australians travel to Canakkale each year for Anzac Day on April 25, to mark the start of the battle of Gallipoli and to commemorate the dead.

Source: Fox News World

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NHL roundup: Killorn, Lightning crush Caps

NHL: Washington Capitals at Tampa Bay Lightning
Mar 16, 2019; Tampa, FL, USA; Tampa Bay Lightning left wing Alex Killorn (17) shoots as Washington Capitals goaltender Braden Holtby (70) makes a save during the third period at Amalie Arena. Mandatory Credit: Kim Klement-USA TODAY Sports

March 17, 2019

Alex Killorn recorded his first career hat trick, Tampa Bay set a franchise record for wins in a season, and the Lightning beat the visiting Washington Capitals 6-3 on Saturday in the first meeting this season between the Eastern Conference’s two division leaders.

The Lightning notched their 55th victory and became just the fourth team in NHL history to win 54 games or more in consecutive seasons.

Tyler Johnson, Erik Cernak and Yanni Gourde also tallied, and Nikita Kucherov notched two assists for the Lightning, who won their fourth straight. Andrei Vasilevskiy stopped 30 shots and won for the 13th time in his past 14 starts.

Alex Ovechkin had two goals, and John Carlson added a marker and an assist for Washington, which lost for just the third time in its past 15 games. Braden Holtby allowed four goals on 33 shots.

Oilers 3, Coyotes 2 (OT)

Connor McDavid scored his second goal of the game 58 seconds into overtime as Edmonton claimed a victory in Glendale, Ariz.

Mikka Koskinen made 28 saves for the Oilers, and Matthew Benning added a goal.

Alex Galchenyuk scored twice for Arizona. Coyotes goalie Darcy Kuemper stopped 22 shots.

Bruins 2, Blue Jackets 1 (OT)

Brad Marchand scored at 3:30 of overtime as Boston returned home and snapped a three-game losing streak with a victory over Columbus.

Patrice Bergeron also scored for Boston, and Jaroslav Halak made 24 saves. The Bruins put together a streak of 19 straight games with a point, the longest in the NHL this season, before going 0-3-0 on a three-game trip to Pittsburgh, Columbus and Winnipeg.

Matt Duchene scored the lone goal for the Blue Jackets, who had a two-game winning streak snapped. Columbus’ Joonas Korpisalo stopped 31 shots.

Blackhawks 2, Canadiens 0

Corey Crawford made a career-high 48 saves in his hometown as visiting Chicago won its fifth in a row, beating Montreal. Connor Murphy and Brendan Perlini were the goal-scorers, both on assists from Alex DeBrincat.

Crawford, who missed 28 games in the middle of the season due to concussion issues, posted his second shutout of 2018-19. He owns a 1.48 goals-against average during a five-game winning streak.

The Canadiens are 6-10-1 following an impressive 8-1-1 stretch.

Blues 5, Penguins 1

Vince Dunn scored twice, and Pat Maroon had a goal and an assist as St. Louis ended a three-game losing streak by winning at Pittsburgh.

Oskar Sundqvist and Jay Bouwmeester also scored, and Colton Parayko and Robert Thomas each had two assists for St. Louis, which built a 4-0 lead through the game’s first 23 minutes. Jordan Binnington made 40 saves and is 17-4-1 in his first 22 NHL starts.

Dominik Simon scored for the Penguins, who had won three straight and six of seven. Matt Murray stopped nine of 13 shots before being relieved by Casey DeSmith, who allowed one goal on 13 shots.

Red Wings 2, Islanders 1

Andreas Athanasiou scored a pair of goals as host Detroit snapped a four-game losing streak with a victory over New York.

Danny DeKeyser assisted on both goals, while Jonathan Bernier turned aside 41 shots. Detroit avenged a pair of one-goal losses to the Islanders earlier in the season.

Anders Lee scored the only goal for the Islanders, who had won their previous two games. Thomas Greiss made 20 saves for New York.

Panthers 4, Kings 3

Jonathan Huberdeau scored the go-ahead goal with 1:56 left in regulation to lead Florida over host Los Angeles.

Huberdeau also had a game-tying assist. Evgenii Dadonov scored twice and had an assist, Mike Hoffman added a goal, and Aleksander Barkov posted three helpers for the Panthers.

Dustin Brown and Anze Kopitar each had a goal and an assist, and Brendan Leipsic also tallied for the Kings, who are 2-11-4 in their past 17 games.

Jets 2, Flames 1

Mathieu Perreault’s second-period power-play goal held up as the winner as host Winnipeg held on for a win over Calgary in a clash of Western Conference division leaders.

Connor Hellebuyck made 27 saves, including 14 in the third period, to record the victory for Winnipeg, which has won two straight games. Hellebuyck had some good fortune, too, as the Flames’ Johnny Gaudreau twice rang shots off the post and Mark Jankowski drilled the crossbar — all in the opening frame.

Mark Scheifele gave the Jets a 1-0 lead in the first period, and Jankowski tied the game with a short-handed goal in the second period. Mike Smith stopped 19 shots for the Flames.

Senators 6, Maple Leafs 2

Magnus Paajarvi scored two consecutive goals during the second period as Ottawa beat visiting Toronto.

Cody Ceci added a goal and an assist, and Brian Gibbons, Anthony Duclair and Oscar Lindberg also scored for the Senators, who won their second straight. Zack Smith added three assists for the Senators.

Morgan Rielly and John Tavares scored for the Maple Leafs, who have allowed 23 goals while losing three of their past four games.

Hurricanes 4, Sabres 2

Rookie Andrei Svechnikov scored his third goal in three games as Carolina recorded its ninth straight win over Buffalo, prevailing in Raleigh, N.C.

Jordan Staal scored to notch his 500th career point, and Justin Williams and Lucas Wallmark also tallied for the Hurricanes, who improved to 8-2-1 in their past 11 contests. Curtis McElhinney finished with 35 saves.

Former Hurricanes forward Jeff Skinner matched his career high with his 37th goal, and Zemgus Girgensons also tallied for the Sabres, who have dropped seven in a row (0-6-1).

Wild 5, Rangers 2

Ryan Donato recorded his second career two-goal game as Minnesota snapped a three-game losing streak with a victory over New York in Saint Paul, Minn.

Eric Staal also scored for the Wild, who won for just the second time in their past 11 home games (2-6-3) since Jan. 19. Jared Spurgeon added a power-play goal, and J.T. Brown scored an empty-net tally for Minnesota.

Mika Zibanejad and Pavel Buchnevich scored for the Rangers, who went 0-3-1 on their four-game road trip. They lost their seventh straight road game and dropped to 2-6-5 in their past 13 games.

Predators 4, Sharks 2

Viktor Arvidsson scored twice, and Filip Forsberg added a goal and an assist as Nashville won at San Jose.

Colton Sissons also scored for the Predators, and goaltender Juuse Saros made 24 saves. Nashville won its second straight and remained a point behind Winnipeg, which beat Calgary 2-1 Saturday, in the chase for first place in the Central Division.

Timo Meier and Joe Thornton scored for the Sharks, and Martin Jones stopped 26 of 29 shots. The Sharks lost their second straight following a six-game winning streak.

–Field Level Media

Source: OANN

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Aquis Exchange revises no-deal Brexit share trading strategy

FILE PHOTO: The Canary Wharf financial district is seen at dusk in London
FILE PHOTO: The Canary Wharf financial district is seen at dusk in London, Britain, March 26, 2019. REUTERS/Marika Kochiashvili/File Photo

April 9, 2019

By Huw Jones

LONDON (Reuters) – Aquis Exchange has revised its no-deal Brexit strategy in an effort to steal a march on rivals in the face of curbs on where investors can buy and sell stocks.

The pan-European stock trading platform said on Tuesday that customers would be able to trade EU27 listed stocks in London as well as on its new Paris platform from Monday morning if the UK leaves the European Union without an exit deal. UK and Swiss shares would continue to be offered in London only.

Britain is due to leave the EU on Friday unless it secures a “standstill” transition agreement to avoid a disruptive departure. Prime Minister Theresa May will ask an EU summit on Wednesday for a delay until at least the end of June.

“Most volume in EU27 stocks would probably be done in London,” Aquis Chief Executive Alasdair Haynes said in a statement.

It originally planned to offer EU27 stocks in Paris only to avoid harming prices by splitting trading.

Larger rivals Cboe and London Stock Exchange’s Turquoise, which have new EU hubs in Amsterdam, have announced similar changes. Aquis says it was going a step further by offering EU27 shares in London immediately after a no-deal Brexit to stop national exchanges in the bloc taking the business.

Cboe and Turquoise have said they would seek to reintroduce EU27 shares in London later in the year.

The EU’s markets watchdog ruled last month that fund managers could only trade 6,200 shares in the bloc if Britain leaves without a deal. These are mostly EU27 listed stocks but also include 14 from Britain.

If Britain’s Financial Conduct Authority takes tit-for-tat action to require UK and many EU shares to be traded in Britain, it would give Aquis an early advantage over Turquoise and Cboe.

Such a retaliatory move was “highly likely”, Haynes said. The FCA has declined to comment on its plans.

Aquis will revert to its preferred plan of trading EU27 shares only in Paris when it is clear the FCA won’t introduce trading curbs, Haynes said.

“My understanding is that the UK government does not want to see EU27 business move from London to Europe and will do whatever it can, unless some form of equivalence or financial services deal is agreed, to allow business to remain in London,” he said. Trading in European government bonds and repurchase agreements on CME’s London unit has already moved to Amsterdam.

(Reporting by Huw Jones, editing by Mike Harrison)

Source: OANN

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Kansas Congressmen Back Bill to Promote Bob Dole to Colonel

Members of the Kansas delegation to Congress are reportedly working to push through legislation that will promote Bob Dole from Army captain to colonel.

The Senate last week passed a bill sponsored by Sens. Pat Roberts, R-Kan., and Jerry Moran, R-Kan., and Rep. Roger Marshal, R-Kan., is guiding the legislation in the House.

"I am humbled to know that my friends in the Kansas delegation made it a priority to honor me in this way," Dole said, the Topeka Capital-Journal reported Monday. "I was certainly proud to serve in the U.S. Army during World War II — alongside many heroes who never returned to American soil. To me personally, this legislation is a shared honor."

Dole — a WWII hero who received two Purple Hearts and the Bronze Star — represented Kansas in the House from 1961-1969, then spent the next 27 years in the U.S. Senate. He stepped down in 1996, when he became the GOP nominee for president. Last year, Dole received the Congressional Gold Medal as President Donald Trump hailed his "extraordinary life."

"Bob Dole's legacy of valor in combat and lifelong career of selfless service to the nation represents the highest ideals and values of the Army as well as the Greatest Generation," said Gen. Mark Milley, the Army chief of staff, the news outlet reported.

Source: NewsMax Politics

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A worker holds a nozzle to pump petrol into a vehicle at a fuel station in Mumbai
FILE PHOTO: A worker holds a nozzle to pump petrol into a vehicle at a fuel station in Mumbai, India, May 21, 2018. REUTERS/Francis Mascarenhas

April 26, 2019

By Manoj Kumar and Nidhi Verma

NEW DELHI (Reuters) – Surging global oil prices will pose a first big challenge to India’s new government, whoever wins an election now under way, especially as domestic prices have been allowed to lag, meaning consumers are in for a painful surge as they catch up.

For oil-import dependent India, higher global prices could lead to a weaker rupee, higher inflation, the ruling out of interest rate cuts and could further weigh on twin current account and budget deficits, economists warned.

But compounding the future pain, state-run fuel suppliers and retailers have held off passing on to consumers the higher prices during a staggered general election, which began on April 11 and ends on May 23, according to sources familiar with the situation.

That delay is expected to be unwound once the election is over. And there could be additional price increases to make up for losses or profits missed during the period of delayed increases, the sources said.

In some major Asian countries, such as Japan and South Korea, pump prices are adjusted periodically so they move largely in tandem with international crude prices.

That was what was supposed to happen in India but the election means there have been many days when pump prices have been unchanged.

In New Delhi, for example, while crude oil prices have gone up by nearly $9 a barrel, or about 12 percent, in the past six weeks, gasoline prices have only risen by 0.47 rupees a liter, or 0.6 percent.

State-controlled fuel suppliers and retailers declined to say why they had delayed price increases, or discuss whether there has been any pressure from the government of Prime Minister Narendra Modi.

A government spokesman declined to comment.

The opposition Congress party said Modi’s government was violating its own policy of daily price revision by advising the state oil companies to hold prices steady.

“The government should cut fuel taxes otherwise consumers will have to pay much higher oil prices once the elections are over,” said Akhilesh Pratap Singh, a senior leader of the Congress party.

(GRAPHIC: India Polls: Fuel price hike lags crude surge – https://tmsnrt.rs/2XLlxik)

Nitin Goyal, treasurer at the All India Petroleum Dealers Association, representing fuel stations in 25 states, said prices were similarly held down for 19 days in the southern state of Karnataka last year, when it held state assembly elections.

Only for them to surge after the vote.

“Consumers should be ready for a rude shock of a massive jump in retail prices, similar to the level we have seen in the Karnataka state election,” Goyal said.

‘CREDIT NEGATIVE’

Sri Paravaikkarasu, director for Asia oil at Singapore-based consultancy FGE, said retail prices of gasoline and gasoil prices would have been up to 6 percent, or about 4 rupee, higher if they had been allowed to rise in line with global prices.

“Indian pump prices have failed to keep up with the recent uptrend in crude prices,” Paravaikkarasu said.

“With the country’s general elections underway, the incumbent government has been keeping pump prices relatively unchanged.”

India had switched to a daily price revision in June 2017 from a revision every two weeks, as the government allowed retailers to set prices.

But the government faced protests last October when retailers raised prices by up to 10 rupees a liter after the crude oil price went above $80 a barrel, forcing it to cut fuel taxes.

Global prices rose to their highest level in 2019 on Thursday, days after the United States announced all Iran sanction waivers would end by May, pressuring importers including India to stop buying Tehran’s oil. [O/R]

Higher oil prices will mean Asia’s third largest economy is likely to see growth of less than 7 percent rate this fiscal year, economists said. Growth slowed to 6.6 percent in the October-December quarter, the slowest in five quarters.

Rating agency CARE has warned that a 10 percent rise in global oil prices could increase demand for dollars, putting pressure on the rupee and widening the current account deficit.

India’s oil import bill rose by nearly one-third in the fiscal year ending March 31 to $140.5 billion, against $108 billion the previous year.

“The increase in international oil prices is a credit negative for the Indian economy,” ICRA, the Indian arm of the Fitch rating agency, said in a note.

“Every $10/ bbl increase in crude oil prices increases the fiscal deficit by about 0.1 percent of GDP.”

Any big price rise would also build a case for the central bank to keep rates steady, or even raise them.

The Reserve Bank of India’s Monetary Policy Committee, which cut the benchmark policy repo rate by 25 basis points this month, warned that rising oil and food prices could push up inflation.

Policymakers are worried that a sustained increase in the oil price in the range of $70-75/barrel or higher can move the rupee down by 3-4 percent on an annual basis.

The rupee has depreciated by 1.24 percent against the dollar since a year high in mid-March.

($1 = 70.1800 Indian rupees)

(Reporting by Manoj Kumar and Nidhi Verma; Editing by Martin Howell and Rob Birsel)

Source: OANN

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FILE PHOTO: Uber's logo is displayed on a mobile phone in London, Britain
FILE PHOTO: Uber’s logo is displayed on a mobile phone in London, Britain, September 14, 2018. REUTERS/Hannah Mckay/File Photo

April 26, 2019

(Reuters) – Ride-hailing company Uber Technologies Inc unveiled terms for its initial public offering on Friday, telling investors it would seek to sell as much as $10.35 billion in stock at a valuation of up to $91.5 billion.

In a regulatory filing, Uber set a target price range of $44-$50 per share for its IPO. The company will sell 180 million shares in the offering, with a further 27 million sold by insiders.

In the filing, Uber also reported a net loss attributable to the company for the first quarter of 2019 of around $1 billion and revenues of roughly $3 billion.

(Reporting by Joshua Franklin; editing by Patrick Graham)

Source: OANN

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FILE PHOTO: Jet Airways aircraft are seen parked at the Chhatrapati Shivaji Maharaj International Airport in Mumbai
FILE PHOTO: Jet Airways aircraft are seen parked at the Chhatrapati Shivaji Maharaj International Airport in Mumbai, India, April 18, 2019. REUTERS/Francis Mascarenhas/File Photo

April 26, 2019

By Aditi Shah and Abhirup Roy

NEW DELHI/MUMBAI (Reuters) – The grounding of India’s Jet Airways is turning into a quick windfall and long-term opportunity for international airlines keen to scoop up nearly a million outbound passengers from what was once the nation’s biggest airline.

Jet, which previously had a fleet of around 120 largely Boeing Co planes, was forced to indefinitely halt all flight operations on April 17 after its banks rejected the carrier’s plea for emergency funds.

The carrier’s descent into crisis has benefited international airlines in the form of rising fares and demand, data showed.

Fares from India to cities such as Dubai, London, New York, Singapore and Bali in the first quarter of 2019 rose between 4 percent and 32 percent from a year ago, according to Indian travel portal MakeMyTrip Ltd.

In the peak travel months of May and June, fares to London have spiked as much as 36 percent and tickets to San Francisco are up nearly 20 percent from a year ago, according to data from travel portal Yatra.com.

“For the next three months it’s actually bonanza time for international players,” said Ashish Nainan, a research analyst at CARE Ratings. “At least until the middle of June, the fares are not going to come down.”

Due to rising demand, even before Jet’s lessors grounded planes, carriers such as British Airways, Cathay Pacific Airways Ltd, Singapore Airlines Ltd and United Airlines saw an up to a 27 percent increase in passenger numbers from India in the last quarter of 2018, data from India’s aviation regulator showed. That is the latest period for which the data is available.

India is one of the world’s fastest-growing aviation markets, clocking 15-20 percent domestic growth in recent years. It has long had only two full-service long-haul carriers, state-run Air India and Jet.

Jet is now hoping to be bailed out by a new investor, with final bids due on May 10.

INCREASING CAPACITY

Before its grounding, Jet had the biggest share of India’s outbound international air traffic, carrying 12 percent of the 7.8 million passengers headed overseas in the Oct-Dec quarter, down from 14 percent a year earlier, data from the Directorate General of Civil Aviation showed.

For an interactive graphic on Jet’s market share, click https://tmsnrt.rs/2WvDQYi

For an interactive graphic on average daily flights by the airline, click https://tmsnrt.rs/2FeFDel

The total number of passengers traveling overseas with Jet fell 10 percent during the last quarter of 2018 even as the outbound travel market grew about 5 percent.

Meanwhile, Singapore Airlines posted a 27 percent increase in passengers from India, Cathay registered 17 percent growth and British Airways saw a 10 percent rise in the same period.

Cathay said the events at Jet combined with increasing demand for travel had led it to deploy larger aircraft with more seats on some Indian routes.

“In the long term we would certainly like to be able to offer more capacity into India, not just on our existing routes but by establishing new services to secondary cities,” Cathay said in a statement.

Singapore Airlines, in an email to Reuters, said the Indian market is “very promising” but declined to give details of airfare levels or demand patterns in the wake of Jet’s exit, citing a quiet period before the release of its annual results.

DOMESTIC GAINS

Jet’s grounding has also had a big impact on the domestic market, with inter-city air fares to major cities such as New Delhi, Mumbai, Bengaluru and Kolkata soaring more than 20 percent in May and June, according to Yatra.com.

The spike in fares is expected to underpin strong earnings for IndiGo and SpiceJet Ltd, which are set to report results for the quarter ended March 31 in the coming weeks.

“Domestic Indian carriers are the main benefactors, but I suspect if Jet fails to be revived by May 10 then Vistara and other airlines that ply international routes, particularly the lucrative Gulf market, are the main winners,” said Shukor Yusof, the head of aviation consultancy Endau Analytics. Vistara is a joint venture of India’s Tata Sons and Singapore Airlines.

Inadequate bilateral traffic rights between India and other countries, however, could be an impediment to foreign carriers’ hopes of winning business lost by Jet, some analysts said.

“Even before Jet’s operational shutdown, international capacity was significantly constrained,” said Kapil Kaul, CEO for South Asia of consultancy CAPA. “We have now more serious capacity challenge … this is unlikely to be stabilized in the near term.”

A new national government likely to be in place sometime after elections end in May is expected to address the international capacity constraints, and once bilateral agreements are eased airlines including Emirates, Turkish and Qatar would immediately benefit, said Kaul.

“We would love to add more flights but we are at the limit of the allocation granted to us for traffic rights,” Emirates Chief Commercial Officer Thierry Antinori told reporters in Dubai on Wednesday.

(Additional reporting by Alexander Cornwell in Dubai, Jamie Freed in Singapore and Tanvi Mehta in Mumbai; Editing by Muralikumar Anantharaman)

Source: OANN

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FILE PHOTO: The company logo for pharmaceutical company AstraZeneca is displayed on a screen on the floor at the NYSE in New York
FILE PHOTO: The company logo for pharmaceutical company AstraZeneca is displayed on a screen on the floor at the New York Stock Exchange (NYSE) in New York, U.S., April 8, 2019. REUTERS/Brendan McDermid

April 26, 2019

By Pushkala Aripaka and Ankur Banerjee

(Reuters) – AstraZeneca Plc beat first-quarter sales and earnings expectations on Friday as the British drugmaker benefited from a push into cancer drugs and emerging markets including China.

Newer treatments such as lung cancer drug Tagrisso, now the company’s top selling medicine, have helped the drugmaker’s return to growth after years of crumbling sales due to patent losses on older drugs.

Sales in China have shown explosive growth, more than doubling since 2012, but AstraZeneca executives on Friday said that may not be sustained.

“The enormous growth you currently see in China, 28 percent, probably is not sustainable, but we feel very bullish that the growth will continue to be at a pace of between 15 percent and 20 percent,” Ruud Dobber, executive vice president, BioPharma, told Reuters.

Shares of the company were down 0.2 percent at 5,878 pence at 1031 GMT.

The turnaround in AstraZeneca’s fortunes has been powered by a push into cancer treatments led by Chief Executive Pascal Soriot, who saw off a 2014 takeover bid from Pfizer in part by promising annual sales of $45 billion by 2023.

In the first quarter, sales from its oncology unit rose 59 percent to $1.89 billion, accounting for 35 percent of total product sales.

The company has moved deeper into cancer therapy market through wide-ranging deals, including those for immunotherapy and targeted therapy. Last month, it agreed a multi-billion dollar oncology deal with Japan’s Daiichi Sankyo Co Ltd.

Interactive graphic on AZN’s top 10 drugs by sales – https://tmsnrt.rs/2W5XIRX

“We’re reaching that point where after years of having to keep faith, we have actually got something tangible to believe in,” Hargreaves Lansdown analyst Nicholas Hyett said.

AstraZeneca also backed its annual sales and earnings forecast and said it has extensively prepared for UK’s anticipated exit from the European Union, even in the event of a no-deal exit.

The company has already spent more than 40 million pounds ($52 million) on Brexit preparations, including stockpiling six weeks’ worth of drugs in the UK and four weeks in continental Europe to guard against shortages.

AstraZeneca said product sales rose 14 percent at constant currency to $5.47 billion in the quarter, led by its lung cancer drug Tagrisso and respiratory treatment Pulmicort.

Interactive graphic on AZN’s quarterly oncology sales – https://tmsnrt.rs/2W9tbCD

China sales increased by 28 percent to $1.24 billion in the quarter, accounting for nearly a quarter of overall product sales.

Core earnings came in at 89 cents per share in the quarter. Analysts on average were expecting core earnings of 85 cents per share and product sales of $5.29 billion, according to a company provided consensus of 19 analysts.

(Reporting by Pushkala Aripaka and Ankur Banerjee in Bengaluru; Editing by Bernard Orr/Keith Weir)

Source: OANN

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