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South Carolina man charged with kidnapping and murder of University of South Carolina student

A South Carolina man was charged Saturday with the kidnapping and murder of University of South Carolina student Samantha Josephson; police say they believe he picked her up in a vehicle, killed her and dumped her body in a wooded area.

Chief William H. Holbrook, with the Columbia Police Department, said at a news conference on Saturday night that authorities had charged 24-year-old Nathaniel Rowland with killing Josephson, 21. A traffic stop reportedly found the victim's blood in his car.

“Our hearts are broken, they’re broken. There is nothing tougher than to stand before a family an explain how a loved one was murdered,” Holbrook said.

According to police, Josephson was out early Friday with friends at the Bird Dog bar on Harden Street when members of the group got separated. After not being able to contact her at all the following morning, Josephson’s roommates contacted law enforcement.

Police learned that after leaving the bar, Josephson requested a ride from Uber and was last seen getting into a black Chevy Impala.

According to police, Josephson was out early Friday with friends at the Bird Dog bar on Harden Street when the group's members became separated.

According to police, Josephson was out early Friday with friends at the Bird Dog bar on Harden Street when the group's members became separated. (Columbia Police Department)

While investigators with the Columbia Police Department began a missing-person inquiry, Clarendon County police responded to a call about 3:45 p.m. that a body had been discovered in a field.

“The body had been found by a couple of people hunting … in a field in what was described by the sheriff to us as a wooded area in a very rural part of the county off of a dirt road -- about 40 feet off of a dirt road -- in an area  that would be very difficult to get to unless you knew how to get there.”

Police say Rowland resided close to where the body was found.

SOUTH CAROLINA COLLEGE REPORTS DEATH OF STUDENT, 21, A DAY AFTER SHE CLIMBED INTO CAR SHE THOUGHT WAS HER RIDE-SHARE

About 3 a.m. Saturday, a canine officer with the Columbia Police Department detected a black Chevy Impala about two blocks from where the victim was last seen.

Holbrook said the officer initiated a traffic stop and asked the driver -- people have identified him as Rowland -- to step out of the vehicle.

The suspect took off but was taken into custody after a short pursuit.

Police discovered that after leaving the bar, Josephson had requested a ride from Uber and was last seen getting into this black Chevy Impala.

Police discovered that after leaving the bar, Josephson had requested a ride from Uber and was last seen getting into this black Chevy Impala. (Columbia Police Department)

Upon returning to the vehicle, the officer observed what appeared to be large amounts of blood inside. Police got a search warrant and found similar samples in the trunk and passenger side of the car. Subsequent testing confirmed that the blood belonged to Josephson.

Police also discovered the victim’s cellphone in the vehicle, along with bleach, germicidal wipes and window cleaner. Holbrook said the child safety feature on the rear car doors had been activated, suggesting that Josephson might have been unable to escape.

Said Holbrook: “What we know now is that she had in fact summoned an Uber ride and was waiting for that Uber ride to come, we believe. We don't’ have a statement or any evidence that suggests this, other than our observations on the video. We believe that she simply mistakenly got into this particular car thinking it was an Uber ride.”

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The South Carolina Law Enforcement Division charged Rowland on Saturday with murder and kidnapping.

Holbrook concluded his press conference with condolences to Josephson’s family, calling the case simply “gut-wrenching.”

Source: Fox News National

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Ex-boyfriend of victim arrested in ax attack that left one woman dead and another fighting for her life

Police have arrested the ex-boyfriend of one of the victims of a brutal ax attack on Saturday that left one woman dead and another fighting for her life.

Jerry Brown, 34, has been charged with murder and attempted murder after allegedly chopping his girlfriend, Angela Valle, and her pregnant friend Savannah Rivera, with an ax at an apartment building in Brooklyn, New York.

Police found Rivera, who also has a three-year-old son, partially decapitated with her fingers severed at the grisly scene early Saturday morning. Valle, 21, called an Uber to take her to the hospital after the attack left her with gashes to her head, chest, arms, stomach, and throat, the New York Post reports. The Uber driver then called 911, and Valle, 21, informed medics before losing consciousness that her boyfriend was the attacker and that her four-year-old daughter Aliana was in the room next to the scene of the crime.

The girl was found asleep and unharmed. She is now with family as they wait with Valle at the Elmhurst Hospital Center and hope that she pulls through from the vicious attack.

TEEN, 3 FRIENDS CHARGED IN BEATING, STABBING DEATH OF GRANDFATHER, 71, FOR $30G KEPT IN SAFE, POLICE SAY

Brown is said to suffer from mental health issues and told Pix 11 before being arrested that he is schizophrenic, bipolar, and paranoid. He said he was trying to get medication from a hospital, and that he did not remember the attack. When he learned that his girlfriend was fighting for her life, he began to cry while speaking to reporters over the phone.

Police found the ax covered in blood and tossed in a trash compactor at the Bushwick Houses, where the attack took place

Police found the ax covered in blood and tossed in a trash compactor at the Bushwick Houses, where the attack took place (Google Earth)

Brown allegedly purchased the ax at a Florama Hardware store about two weeks ago, employees said. They added that he asked 39-year-old worker Udi Amrussi if he could sharpen the ax for him, but the man refused.

Police found the ax covered in blood and tossed in a trash compactor at the Bushwick Houses, where the attack took place.

PENNSYLVANIA MAN, 76, CHARGED WITH KILLING WIFE WHO VANISHED IN 1981

Valle has previously gushed about Brown on Facebook, where the alleged attacker goes by the name "Grim Creepa." Six weeks ago, she posted a photo of Brown and referred to him as "Mr. 187," believed to be street slang identifying Brown as a murderer.

“I love you Daddy,” she wrote in the caption.

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“I love u my queen,” he responded.

Source: Fox News National

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Former Pennsylvania governor calls Green New Deal ‘aspirational’ but says details ‘don’t make sense’

Former Pennsylvania Gov. Ed Rendell said Friday that the aspirational aspects of the "Green New Deal" are ok but warns that the specifics that some Democrats have championed "don't make sense."

"Anybody who's got half a brain agrees that there is climate change and that human activity has caused it and we better do something about it or we're going to be cooked or at least our children are going to be cooked and so the aspirational aspects of the Green New Deal are ok... but the specifics don't make sense," Rendell, also a Democrat, told Fox News. "They cost too much and they're trying to achieve something in a shorter period of time than it's actually physically possible."

Rendell says while he gives credit to his party that the Green New Deal is a step in the right direction, it's "not a fully articulated policy."

JIM BRESLO: GAVIN NEWSOM'S 'TRAIN TO NOWHERE' REPRESENTS A BIG PART OF THE GREEN NEW DEAL

"It's got to be looked at as if it's realistic and we've got to get down to the nitty-gritty," he said.

Rendell says the 14-page, double-spaced, non-binding resolution that was authored by New York Democrat Rep. Alexandra Ocasio-Cortez and Massachusetts Sen. Ed Markey, isn't a piece of legislation.

REP. SEAN DUFFY: GREEN NEW DEAL SUPPORTERS DON'T CARE ABOUT THE CLIMATE - THEY WANT CONTROL OVER YOUR LIFE

"They haven't thought out a lot of the stuff that's in there," Rendell said, pointing to a section that doesn't want automobiles powered by fossil fuels.

"The electric car... where do they think electricity comes from," Rendell asked.

He later added that despite his reservations about some of the far-left lawmakers in his party, he gives them credit for jumpstarting the process in Congress.

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"Good lord," he said. "It's climate change. It's global warming. We see it every day. The weather patterns are so much different than when I was a kid. We're in trouble and we've got to do something about it. And if this can get the discussion going then I give them a great deal of credit," he said. "But this is not a real plan."

Source: Fox News Politics

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Australian election May 18 to be fought on refugees, economy

Australia's prime minister on Thursday called a May 18 election that will be fought on issues including climate change, asylum seekers and economic management.

"We live in the best country in the world," Prime Minister Scott Morrison told reporters after advising the governor-general to authorize the election.

"But to secure your future, the road ahead depends on a strong economy. And that's why there is so much at stake at this election," he added.

Morrison's conservative coalition is seeking a third three-year term. But Morrison is the third prime minister to lead a divided government in that time and only took the helm in late August.

Opinion polls suggest his reign will become one of the shortest in the 118-year history of Australian prime ministers on election day. The polls suggest center-left opposition leader Bill Shorten will become the eighth prime minister since the country plunged into an extraordinary period of political instability in 2007.

The election pits Shorten, a former labor union leader who has presented himself as the alternative prime minister for the past six years, and Morrison, a leader who the Australian public is still getting to know.

Shorten said in his first news conference since the election was called that his government will take "real action on climate change" and reduce inequality in Australian society if his Labor Party wins power.

"Australians face a real and vital choice at this election. Do you want Labor's energy, versus the government's tiredness? Labor's focus on the future, versus being stuck in the past?" Shorten said.

Morrison is seen as the architect of Australia's tough refugee policy that has all but stopped the people-smuggling traffic of boats from Southeast Asian ports since 2014. The policy has been condemned by human rights groups as an abrogation of Australia's responsibilities as a signatory to the United Nations Refugee Convention.

Morrison's first job in Prime Minister Tony Abbott's newly elected coalition government in 2013 was as minister for immigration and border protection. He oversaw the secretive military-run Operation Sovereign Borders.

Asylum seekers from the Middle East, Africa and Asia would typically disable or sink their boats when intercepted by patrol ships in waters north of Australia so that the Australian crews would have to rescue them rather than turn the boats away. Under the new regime, the asylum seekers were placed in motorized life boats that were towed back to Indonesia. The life boats had just enough fuel to reach the Indonesian coast. The Indonesian government complained the policy was an affront to Indonesian sovereignty.

The government has also maintained a policy adopted in the final months of a Labor government in 2013 of sending boat arrivals to camps on the Pacific island nations of Papua New Guinea and Nauru. Those who attempt to reach Australia by boat are told they will never be allowed to settle there.

Morrison remains proud of virtually stopping people-smuggler boat traffic. He has a trophy shaped like a people-smuggler's boat in his office inscribed with "I Stopped These."

Labor has promised to maintain the policy of banishing boat arrivals to the islands. But Labor says it would give priority to finding permanent homes for the asylum seekers who have languished in island camps for years.

The conservative coalition argues that the boats would start coming again because a Labor government would soften the regime. The government introduced temporary protection visas for boat arrivals so that refugees face potential deportation every three years if the circumstances that they fled in their homelands improve. Labor would give refugees permanent visas so that they have the certainty to plan their lives.

Climate change policy is a political battlefield in a country that is the world's largest exporter of coal and liquefied natural gas and has been one of the world's worst greenhouse gas emitters on a per capita basis because of its heavily reliance on coal-fired power generation.

Disagreement over energy policy has been a factor in the last six changes of prime minister.

Labor Prime Minister Julia Gillard introduced a carbon tax in 2012. Conservative Prime Minister Tony Abbott scrapped it two years later.

The coalition is torn between lawmakers who want polluters to pay for their greenhouse gas emissions and those who reject any measures that would increase household power bills.

The government aims to reduce Australian greenhouse gas emissions by 26% to 28% below 2005 levels by 2030.

Labor has promised a more ambitious target of a 45% reduction in the same time frame.

Action on climate change was a major priority for votes when conservative Prime Minister John Howard's reign ended after more than 11 years at an election in 2007.

Labor Prime Minister Kevin Rudd immediately signed up to the U.N.'s 1997 Kyoto Protocol on reducing emissions. Australia and the United States had been the only industrialized countries to hold out.

Climate change dropped down the list of Australian priorities after the global financial crisis hit.

But after Australians sweltered through a record hot summer and grappled with devastating drought, global warming has become a high-priority issue for voters again.

The government warns that Labor's emissions reduction plan would wreck the economy.

The coalition also argues that Labor would further damage the economy with its policy of reducing tax breaks for landlords as real estate prices fall in Australia's largest cities, Sydney and Melbourne.

Morrison boasts that the conservative administration Prime Minister Howard led delivered 10 annual surplus budgets and paid off all federal government debt before the government changed at the 2007 election.

Rudd had planned a budget surplus in his government's first fiscal year, but the global financial crisis struck.

Many economists congratulate Rudd for keeping the Australian economy out of recession through stimulus spending. The coalition has accused Labor of spending too much and sinking Australia too deep in debt,

But debt has continued to mount since the conservatives regained the reins in 2013. But opinion polls suggest voters consider the conservatives to be better economic managers.

The government brought forward its annual budget blueprint by a month to April 2 and revealed a plan to balance Australia's books in the next fiscal year for the first time in 12 years.

Labor also promised to deliver a surplus budget in the year starting July 1, but it has yet to detail how it will achieve this goal.

Labor has also promised to spend an additional AU$2.3 billion ($1.6 billion) over four years on covering treatment costs of cancer patients. It's an attractive offer with half Australia's population expected to be diagnosed with some form of the disease in their lifetimes.

The conservatives have largely taken credit for Australia's remarkable run of 28 years of economic growth since its last recession under Labor's rule.

Morrison hopes that voters will look to him to deliver a sequel to the Howard years when a mining boom delivered ever-increasing budget surpluses.

Source: Fox News World

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U.S. intelligence says Huawei funded by Chinese state security: report

Huawei logo is pictured during the media day for the Shanghai auto show in Shanghai
A Huawei logo is pictured during the media day for the Shanghai auto show in Shanghai, China April 16, 2019. REUTERS/Aly Song

April 20, 2019

(Reuters) – U.S. intelligence has accused Huawei Technologies of being funded by Chinese state security, The Times said on Saturday, adding to the list of allegations faced by the Chinese technology company in the West.

The CIA accused Huawei of receiving funding from China’s National Security Commission, the People’s Liberation Army and a third branch of the Chinese state intelligence network, the British newspaper reported, citing a source.

Earlier this year, U.S. intelligence shared its claims with other members of the Five Eyes intelligence-sharing group, which includes Britain, Australia, Canada and New Zealand, according to the report http://bit.ly/2KT7ztd.

Huawei dismissed the allegations in a statement cited by the newspaper.

“Huawei does not comment on unsubstantiated allegations backed up by zero evidence from anonymous sources,” a Huawei representative told The Times.

The company, the CIA and Chinese state security agencies did not respond immediately to requests for comment.

The accusation comes at a time of trade tensions between Washington and Beijing and amid concerns in the United States that Huawei’s equipment could be used for espionage. The company has said the concerns are unfounded.

Authorities in the United States are probing Huawei for alleged sanctions violations.

Meng Wanzhou, Huawei’s chief financial officer and daughter of its founder, Ren Zhengfei, was arrested in Canada in December at the request of the United States on charges of bank and wire fraud in violation of U.S. sanctions against Iran.

She denies wrongdoing and her father has previously said the arrest was “politically motivated”.

Amid such charges, top educational institutions in the West have recently severed ties with Huawei to avoid losing federal funding.

Another Chinese technology company, ZTE Corp, has also been at the center of similar controversies in the United States.

U.S. sanctions forced ZTE to stop most business between April and July last year after Commerce Department officials said it broke a pact and was caught illegally shipping U.S.-origin goods to Iran and North Korea. The sanctions were lifted after ZTE paid $1.4 billion in penalties.

Reuters reported earlier this week that the United States will push its allies at a meeting in Prague next month to adopt shared security and policy measures that will make it more difficult for Huawei to dominate 5G telecommunications networks.

(Reporting by Kanishka Singh in Bengaluru; Editing by Nick Macfie)

Source: OANN

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Comedian takes center stage in Ukraine’s presidential race

Volodymyr Zelenskiy, Ukrainian actor and candidate in the upcoming presidential election, hosts a comedy show at a concert hall in Kiev
Volodymyr Zelenskiy, Ukrainian actor and candidate in the upcoming presidential election, hosts a comedy show at a concert hall in Kiev, Ukraine February 22, 2019. Picture taken February 22, 2019. REUTERS/Valentyn Ogirenko

February 27, 2019

By Matthias Williams and Margaryta Chornokondratenko

KIEV (Reuters) – In a popular Ukrainian TV series, comedian Volodymyr Zelenskiy plays a president who is scrupulously honest and outwits crooked lawmakers and shadowy businessmen who try to stand in his way.

Zelenskiy’s character in the show “Servant of the People” is loved by Ukrainians fed up with how their country has been governed since independence in 1991. Now they have the chance to turn fantasy into reality in presidential elections on March 31.

The 41-year-old actor announced a presidential bid on New Year’s Eve and he has since emerged as the surprise frontrunner ahead of incumbent Petro Poroshenko and opposition leader Yulia Tymoshenko in a crowded field of 44 candidates.

Zelenskiy’s sudden rise comes at a time voters around the world have upended the status quo, propelling anti-establishment forces such as U.S. President Donald Trump and Italy’s 5-Star Movement, which was also once led by a comedian, to power.

Critics question Zelenskiy’s political inexperience while investors worry that he’s more of an unknown quantity than Poroshenko. After all, if he becomes leader the TV star would be in charge of a country at war in need of fundamental change.

Asked in an interview with Reuters what sets him apart from other candidates, Zelenskiy pointed to his face.

“This. This is a new face. I have never been in politics,” he said after hosting a TV comedy talent show.

“I have not deceived people. They identify with me because I am open, I get hurt, I get angry, I get upset. I do not hide my emotions on camera, I do not try to look different. If I’m inexperienced in something, I’m inexperienced. If I don’t know something, I honestly admit it.”

After performing in student theater, Zelenskiy came to prominence as a team captain in the TV show KVN, where teams compete against each other with jokes and song-and-dance routines. In 2003, his team formed the basis of TV production company Kvartal 95, which makes Servant of the People.

‘SELLING THE DREAM’

In the TV series, Zelenskiy starts out as a humble high school history teacher who becomes president after an expletive-laced tirade about Ukraine’s corrupt political class, secretly filmed by one of his students, goes viral.

Disaffection with how little has changed under Poroshenko has helped fuel Zelenskiy’s popularity, according to Serhiy Leshchenko, an investigative journalist and lawmaker.

“The desire of Ukrainian citizens is to have new faces, to have new politicians ready to reshuffle the whole political class,” he said, comparing the comedian to Trump.

“Both of them are TV stars, and both of them are selling people the dream, so people are ready to accept this dream because they are fed up with the old class of politicians.”

The Maidan protests in 2014 that ousted a Kremlin-backed president brought hope of change, but Poroshenko’s critics say progress has not come fast enough in a country where corruption remains entrenched, oligarchs amass wealth and influence and poverty levels are among the worst in Europe.

Zelenskiy’s squeaky clean fictional president is a powerful image, blurring the lines of where his character stops and the presidential hopeful begins. Even his party is called Servant of the People after the TV series.

At Friday night’s recording of the comedy talent show, the audience, many in their 20s and 30s, laughed and cheered at references and winking allusions to his presidential bid.

Backstage, he posed for selfies with some fans between skits. A trailer for a new series of Servant of the People played before the show, where the fictional president talks about his hopes.

He dreams of a day when Oleg Sentsov, a Ukrainian film-maker languishing in a Russian jail, will release a new film. War in the east will be over and Ukraine will host the Olympic Games in Crimea, once it has been taken back from Russia.

“(I) would just like to see him as the president. Ukraine needs something new. I am sick of all this,” said Volodymyr Bren, who was in the audience at the comedy talent contest.

IMF DEALS

With less than five weeks until the election, several polls have put Zelenskiy in front of Poroshenko and Tymoshenko.

Support for Zelenskiy is particularly strong among 18-35 year-olds who think he would be the best candidate to tackle corruption in state institutions, according to a December survey on behalf of the International Republican Institute https://www.iri.org (IRI).

His campaign has been propelled by his TV appeal and social media. He has 2.7 million followers on Instagram while Poroshenko has 194,000. On Facebook, Zelenskiy invites suggestions from followers on tackling problems such as high utility bills or their choice of prime minister.

Zelenskiy told Reuters he would not allow Ukraine to default on its debt commitments to the International Monetary Fund (IMF), which has propped up the economy with billions of dollars in loans and provides reassurance to investors.

He hopes the country will eventually stop relying on the IMF but, for now, he would not allow Ukraine “to default and spoil the image of our country”.

Tymoshenko and other opposition candidates have fiercely criticized Poroshenko after the government raised household heating tariffs as a condition for more IMF loans.

Asked for his position on heating costs, Zelenskiy was short on specifics. He said Ukraine’s tariffs were the lowest in Europe but still too high for many.

TACKLING CORRUPTION

Ironically, given the clean image of his fictional president, Zelenskiy has had to fend off suspicion that in real life he is a puppet of Ihor Kolomoisky, a prominent oligarch whose TV channel airs Zelenskiy’s shows.

Zelenskiy insists his relationship with Kolomoisky is strictly professional. He said he would not, as some fear, hand back ownership of PrivatBank, Ukraine’s largest lender, to Kolomoisky if he becomes president.

As part of an IMF-backed clean-up of Ukraine’s financial system, the government nationalized PrivatBank in 2016 – and later alleged the lender was used for large-scale fraud and money laundering. Kolomoisky called the allegations nonsense and has said the bank was nationalized on spurious grounds.

“Am I that crazy? Do I want to lose my life, reputation?” said Zelenskiy, when asked whether he would hand PrivatBank back to Kolomoisky.

The businessman also denies having undue influence over Zelenskiy. “I’m more his puppet than he is mine,” he told the Ukrainian news site lb.ua.

To tackle corruption, Zelenskiy said he would introduce a bill to strip the president, lawmakers and judges of immunity from prosecution. He also called for an independent anti-corruption court that the president could not unduly influence – with judges selected with the help of Western experts.

He said that would end a political culture where the president or someone else in authority simply picks up the phone and says: “It will be like this, like this or like this.”

Back in the world of make-believe at the comedy talent show, one contestant hands Zelenskiy a giant key.

The presidential hopeful says it is too big to fit into his pocket – to cheers and applause from an audience that knows Ukrainian politicians often pocket large bribes.

The contestant shouts: “Friends, you have a unique chance to vote for a candidate with small pockets.”

(Additional reporting by Pavel Polityuk; editing by David Clarke)

Source: OANN

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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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Source: InfoWars

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