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US construction spending up strong 1 percent in January

U.S. construction spending rose a solid 1 percent in February, led by a strong gain in spending on government projects, which hit an all-time high.

The Commerce Department says the February increase followed an even larger 2.5 percent gain in January and a slight 0.2 percent rise in December. The gains pushed total construction to a seasonally adjusted annual rate of $1.32 trillion, the highest level since May.

Residential construction was up 0.7 percent. Government construction jumped 3.8 percent to $303 billion, the highest level on record.

Weakness in home building has been a drag on overall growth, but analysts believe housing construction should rebound this year, helped by lower mortgage rates following the signal by the Federal Reserve that it plans to hold rates steady this year.

Source: Fox News National

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Hate Crime Hoaxes Outnumber Actual Hate Crimes

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Source: InfoWars

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Unpredictable election makes Ukraine’s friends wary

FILE PHOTO: A campaign staff is seen in a pre-election tent of Leader of opposition Batkivshchyna party and presidential candidate Tymoshenko, in central Kiev
FILE PHOTO: A campaign staffer is seen in a pre-election tent for the leader of opposition Batkivshchyna party and presidential candidate Yulia Tymoshenko, in central Kiev, Ukraine March 25, 2019. REUTERS/Gleb Garanich/File Photo

March 26, 2019

By Matthias Williams and Gabriela Baczynska

KIEV/BRUSSELS (Reuters) – Ukraine’s Western backers fear the country’s next president may prove unwilling or unable to accelerate reforms they have spent five years investing in, whoever it turns out to be.

The election due on Sunday has boiled down to a three-horse race between President Petro Poroshenko, former Prime Minister Yulia Tymoshenko and Volodymyr Zelenskiy, a comedian who plays a fictional president in a popular TV series.

Kiev-based Western diplomats said all three left doubt over how effectively they would pass reform, tackle corruption and keep aid flowing.

“We certainly know what we get with Poroshenko,” one diplomat said. “We think we know what we’ll get with Tymoshenko. With Zelenskiy, we have no clue.”

“All of them are flawed,” said another. “There is no candidate where you will sit there and go: ‘Yes!’.”

The country is the nexus of the confrontation between the West and Russia since Ukraine’s 2014 Maidan street protests ejected Poroshenko’s Russia-friendly predecessor and Moscow annexed the Crimea peninsula, triggering Western sanctions.

With its war against Kremlin-backed fighters in the Donbass region into a fifth year, Ukraine has battled to keep its cause high on the international agenda and pushed for membership of the European Union and NATO.

Successive rounds of sanctions on Russia show the West is still willing to stick its neck out for Ukraine, although a desire to prevent Russia from interfering in other former Soviet republics is also in play.

But investors are jittery and Kiev’s patchy performance on reforms – and Europe’s own distractions like Brexit and an assertive China – have made it harder to keep so-called “Ukraine fatigue” at bay.

Ideally, the EU would like to see Ukraine – a large neighbor on its eastern border – as a stable democracy, obeying the rule of law and able to defend itself from Russia.

But the unity behind the sanctions is always fragile, with Italy, Greece, Hungary and other countries closer to Moscow keen to repair economic relations.

A Ukrainian president weak on reforms could tip the balance towards Russia while jeopardizing international funding and ties with a bloc that has given Ukrainians visa-free travel, a right some two million people have exercised in less than two years.

Diplomats also worry a closely-fought contest could be marred by allegations of cheating and protests.

“What Ukraine now risks, is squandering the goodwill and belief it got since 2014,” the second diplomat said. “The government’s calculation is that they’ll be supported no matter what.”

THREE FLAWED CANDIDATES

Poroshenko won praise for keeping Ukraine together in the chaotic aftermath of the Crimea annexation, strengthening the army and passing reforms such as in banking and energy.

But anti-corruption efforts have stuttered and an apparent culture of impunity where top officials are not jailed for alleged embezzlement or bribe-taking has disappointed voters.

For lack of a better choice, the EU has stuck to its principles of insisting on reforms and promoting Ukraine’s pro-Western aspirations rather than leaning towards any candidate.

“Poroshenko has had a very clear line, at least on paper, on resisting Russia and being pro-European. He has not been ideal but we’ve known him, we’ve dealt with him,” said a Brussels-based EU diplomat.

“It is crucial that the next president sticks to the reform agenda because we have invested so much in it. Without that and without an unequivocal line on Russia, the relationship will suffer.”

Zelenskiy by contrast is a puzzle. He tapped into the disillusionment felt since Maidan and his new face and lack of political baggage appeals to voters, especially the young.

But diplomats worry about his lack of experience and whether he is beholden to Ihor Kolomoisky, an oligarch on whose channel Zelenskiy’s show airs. The two deny being in cahoots.

A Zelenskiy victory would raise concerns about the fate of PrivatBank, Ukraine’s largest lender, which the government wrested from Kolomoisky in 2016 and then shored up with billions of dollars.

The government wants to recover money it says was siphoned out while Kolomoisky owned it. Kolomoisky denies any wrongdoing and says the bank was forcibly nationalized without proper justification.

“Is he (Zelenskiy) only a puppet? I don’t think so,” said one Western diplomat. “Would he end up redoubling efforts to prosecute the PrivatBank case in every jurisdiction available? You’d have to wonder about that.”

At a meeting with European ambassadors in February, Zelenskiy acquitted himself reasonably well, according to three diplomats present, playing down his career as a comedian and talking up his effectiveness as a producer and manager.

Nevertheless, he left an impression of being light on substance, one diplomat said. The optimistic view, the diplomat added, was Zelenskiy would surround himself with reformers who treat him as a blank page to imprint their vision.

“You can’t expect much from a person with no political experience,” said another. “He looked quite sincere but we can only judge from the results.”

“Did he provide answers in the way others did? Perhaps not, but I don’t think you can dismiss him,” said a third, adding Zelenskiy was clearly intelligent but did not articulate a policy or vision.

Even if his heart is in the right place, Zelenskiy might struggle to get reforms through a hostile parliament where as of now he has no MPs, diplomats said.

In one sense, Poroshenko has become the victim of his own success in keeping the Donbass conflict contained, another diplomat said, emboldening voters to take a chance on Zelenskiy.

“Poroshenko cauterizing the Donbass wound, insulating 90 percent of the country from it, made people feel they can experiment,” the diplomat said. “You have this deceptive calm in the country.”

Tymoshenko, a two-time prime minister, is also a mixed bag for the EU. It came to her side in 2011 when she was jailed by Poroshenko’s predecessor Viktor Yanukovich, but a 2009 gas deal seen as more beneficial to Russia than Ukraine and recent anti-reform rhetoric may have weakened her appeal.

“She has lost the glow of martyrdom somewhat,” a Brussels-based EU official said.

One strength of the election in Western eyes is it is genuinely competitive, making for flattering comparisons with Russia, where the Kremlin-backed candidate dominates the field. But it has been marred by accusations of foul play.

At a March summit in Brussels between Poroshenko and EU leaders Donald Tusk and Jean-Claude Juncker, Poroshenko said in private he could still win. The EU told Poroshenko to ensure the vote was fair, an EU official said.

Opinion polls show Zelenskiy as the frontrunner, with Poroshenko and Tymoshenko fighting for a place in the April run-off. The fear is a close contest could spark accusations of vote-rigging and street protests.

In a speech on March 5, US Ambassador Marie Yovanovitch said anyone trying to falsify voting records should be prosecuted and government resources should not be used to target political opponents.

“In short, a country seeking integration with the European Union and NATO should ensure its actions meet Western standards,” she said.

(Editing by Philippa Fletcher)

Source: OANN

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VIDEO: CA Trump supporter pelted in head with can ‘full of bong water’

Only in the land of “tolerance” would a Trump supporter be assaulted with a can “full of bong water.”

Vlogger Ben Bergquam and a number of Trump supporters took to a street corner in Temecula, California on Saturday to wave American flags and rally for the President.

As Bergquam was speaking into his camera, he was hit in the back of the head with an object. Watch:

“We drive all around town with these flags,” one of the Trump supporters said. “We get a lot of positive feedback.”

“You know it’s funny, people think of California as all crazy liberals that have lost their minds—” Bergquam was adding just as he got hit.

“Well, there’s one of them right there!” he exclaimed, bouncing back from the head shot.

“So a guy just threw a soda can at me and hit me in the back of the head,” Bergquam continued line an intrepid reporter.

He then walked back to the evidence laying on the sidewalk.

“This is the left there, guys, perfect example of the left, right there, full soda can,” he continued as the camera showed the crushed can on the cement.

“That’s not soda,” a woman said in the background.

“No, it’s like bong water,” Bergquam responded as he smelled the liquid.

“This is how pathetic these guys are, guys. So this guy just came by, had this bong water in his car…” Bergquam said as someone added, “Threw it at kids.”

“This is the kind of disrespect we have in our country,” Bergquam said. “You know what thought? It doesn’t stop us.

“It only gives us courage to keep going.”

Bergquam said he was keeping the cherry 7UP can to remind himself how “pathetic” the left is.

“A perfect illustration: an empty can full of bong water,” he said.

Source: InfoWars

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Palestinian Cleric: “France Will Become an Islamic Country Through Jihad”

In an address to Al-Aqsa mosque-goers, Palestinian cleric Abu Taqi Al-Din Al-Dari said that France will become an Islamic state because it will mostly be inhabited by Muslims by 2050.

“France will become an Islamic country through jihad; the entire world will be subject to Islamic rule,” the cleric said.

Al-Dari said that this would happen because young European natives are not getting married, settling down and having children whereas Muslims have a high fertility rate and have lots of children.

“Muslims must have a country that will bring Islam….to the people of the west through jihad for the sake of Allah,” said Al-Dari.

Al-Dari then referenced how the Ottoman Empire previously conquered European countries and that “these events portend that the Islamic nation is capable of returning to its former self and spreading Islam.”

The cleric said that this would be accomplished in one of three ways.

“Conversion to Islam, payment of the jizya poll tax, or we will ask for Allah’s help and fight them until the entire world is subject to the rule of Islam,” he concluded.

Over the last few months, France has been rocked by Yellow Vest protests in major cities. One of the reasons given for the demonstrations is that French people feel their culture is being subsumed by mass migration.

18% of babies born in France are now being given Islamic names while the country’s Muslim population stands at around 8% of the total.

In one area of Paris alone, St. Denis, there are 400,000 illegal immigrants, the majority of them Muslims.

As philosopher Eric Zemmour warned in a recent speech, areas of France are now completely outside the control of police and are being run by Arab gangs who have imposed de facto Sharia law.

“We aren’t in France any longer,” said Zemmour.

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Source: InfoWars

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U.S. lawyer Michael Avenatti arrested in Nike extortion scam: prosecutors

FILE PHOTO: Attorney Michael Avenatti speaks in Chicago
FILE PHOTO: Attorney Michael Avenatti speaks to the media members at the Leighton Criminal Courthouse after R. Kelly was ordered held on a $1 million bond in Chicago, Illinois, U.S., February 23, 2019. REUTERS/Kamil Krzaczynski

March 25, 2019

NEW YORK (Reuters) – Attorney Michael Avenatti, who represented adult film star Stormy Daniels in her legal battles against U.S. President Donald Trump, was arrested on Monday and charged with extorting more than $20 million from Nike, federal prosecutors said.

The U.S. Attorneys offices in New York and Los Angeles separately filed charges against Avenatti, with the California case accusing him of embezzling a client’s money to cover his own debts, as well as using phony tax returns to obtain millions of dollars in loans from a bank.

Avenatti threatened to expose allegations of misconduct from Nike employees unless the apparel company paid him and an unnamed co-conspirator $22.5 million to “buy Avenatti’s silence,” the New York complaint said.

(Reporting by Joseph Ax; Editing by Scott Malone)

Source: OANN

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New York man with 600-square-foot apartment gets $38M Con Edison bill: report

Now that's a lot of electricity.

A New York man reportedly received a Con Edison monthly bill of $38 million on Monday for his 600 square foot apartment.

The man identified as Tommy Straub tweeted at Con Edison to fix his "insane" energy bill for his place in Queens.

“Hey @ConEdison: I own a 600 square foot apartment in Astoria, Qns. I do NOT own the entirety of Manhattan Island. THIS IS INSANE. FIX IT,” he tweeted on Monday, with a screenshot of the $37,974,401.35 bill.

PENNSYLVANIA WOMAN STUNNED BY $284 BILLION ELECTRIC BILL

Straub also tweeted a screenshot of the direct messages with Con Edison, saying "This is top-notch service right here."

CLICK HERE TO GET THE FOX NEWS APP

“Our customer ops team is looking into it and we’ll definitely work on it and fix it,” a ConEd spokesperson told the New York Daily News, saying that it was most likely a computer error.

Source: Fox News National

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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)

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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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