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Garmin forecasts higher full-year revenue, shares rise

A Garmin GPS watch is shown on a display at a store in Encinitas
A Garmin GPS watch is shown on a display at a store in Encinitas, California, U.S., October 30, 2017. REUTERS/Mike Blake

February 20, 2019

(Reuters) – Garmin Ltd reported quarterly results that beat Wall Street estimates on Wednesday on the back of higher demand for its smartwatches and navigation systems and forecast full-year revenue above expectations.

Shares of the company rose 4.2 percent to $73.97 in light trading before the bell.

Garmin, which started as a navigation device maker, has benefited in recent years from growing demand for smartwatches and other wearable fitness devices that track everything from heart rates and calories to a pet’s movement.

The company, which competes with the likes of Apple Inc, Fitbit Inc and TomTom, forecast full-year revenue of about $3.5 billion.

Analysts were expecting revenue of $3.43 billion, according to IBES data from Refinitiv.

Sales in its outdoor segment, that sells smartwatches to campers and travelers, rose about 25 percent in the quarter.

Net income rose to $190.15 million, or $1 per share, in the fourth quarter ended Dec.29, from $142.55 million, or 75 cents per share, a year earlier.

Excluding items, it earned $1.02 per share and beat the average analyst estimate of 80 cents, according to IBES data from Refinitiv.

Net sales rose about 4 percent to $932.1 million in the quarter.

(Reporting by Sayanti Chakraborty in Bengaluru; Editing by Arun Koyyur)

Source: OANN

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Decades of Transit Trouble on New York’s Subways

As the New York City subway system continues to deteriorate, this word is verboten by political and media elites here: Privatization.

Even the supposed friends of private enterprise, the Manhattan Institute, don’t argue for the abolition of the Metropolitan Transportation Authority (MTA), the state agency that has run the subways since the late 1960s. Some supposed friends of laissez-faire don’t accept that private transportation systems can ever effectively run the trains and make money.

Instead they argue for new forms of government funding and controls. This reminds one of the comments of Ludwig von Mises that even many of the critics of socialism sound like socialists.

But the problem of government transportation companies is profound. It requires understanding history. Government transportation systems have been a mess, whether in New York, nationally (Amtrak) or the experiences of a state railroad in Michigan in the 19th century.

In New York, we have forgotten the history of subway system just as millions of Americans forgot that private passenger railroads once were profitable until regulated to death by the 1960s. The subways were never privately owned. But private management companies built the first lines. They were considered “an engineering marvel,” wrote Robert Caro in the book The Power Broker. People came from around the world in those first years of the subways to admire them (New Yorkers, please stop laughing).

And the IRT once made a lot of money under a city franchise. It continued making money until about the end of World War I. Then what some would call a “socialism without doctrines” started to operate

Most Americans, until recently, didn’t like the term socialism. So the way to collectivize an industry was, and is, regulating it to death. The IRT, despite repeated requests in the 1920s to raise the nickel fare, was never allowed a higher fare even though costs skyrocketed owing to World War I inflation.

The system began to lose money and deteriorate just as much New York housing has deteriorated under rent controls. A libertarian journalist understood what was happening in 1940 when the city took over.

“The City of New York has set a pattern for the nationalizing of the railroads of the country,” said journalist Frank Chodorov in reviewing the events of 1940. “A regulatory body, with power to fix rates and compel unprofitable operation, squeezes the business into bankruptcy, so that the owners are quite willing to sell their property to the taxpayers, and bureaucracy improves its position.”

The perpetual nickel subway fare under private management — which went up quickly after the city took over — destroyed private management. That’s because price controls — as tempting as they seem to most of us when we want to buy something but not when we want to sell something of ours — never work.

By the late 1930s, the IRT was ready to sell. Supposedly the private transportation system had failed, the good government groups (Goo-Goo’s) said when they bought out the last private management company. And now the city, the Goo-Goo’s said, through government operation would end labor disputes and provide economies of scale, all promises never realized. They also promised to build new lines such as the Second Avenue Subway.

By the way, the latter is finally about 20 percent built and more than a half century late. And this came after voters, on three separate occasions, paid for bond issues. Most of the proceeds were spent to close subway deficits. Indeed, the MTA remains deep in debt.

“The Metropolitan Transportation Authority (MTA) is facing its greatest crisis in decades. Service has deteriorated and subway ridership is falling despite the largest job expansion in the City’s history,” wrote New York State Comptroller Thomas DiNapoli in December.

“Since July 2018, the MTA’s budget gap for 2020 has nearly doubled to $510 million and the 2022 gap has grown to $991 million,” he wrote. “These estimates already assume fare and toll increases of 4 percent in 2019 and 2021.” He added the MTA might “reduce services.”

This documented disaster when the mayor of city of New York and governor of the state of New York — who both agree with the rest of the city and state pols that the system can never be privatized — trade charges over who is responsible. But again, it is the history of government transportation systems that should guide us.

The British economist Alexander Gray, writing about the London Underground almost 75 years ago in the book  The Socialist Tradition, warned that the more the state interferes and controls, “the less does it show a disposition to accept ultimate and direct responsibility for what it has done.”



The ‘non-existent’ border crisis is set to expect up to 1 million illegal immigrants this year.

Source: InfoWars

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Beto praises ‘courage’ of Biden accusers, questions whether former VP should enter 2020 race

Former Texas Rep. Beto O’Rourke became the latest 2020 Democratic presidential hopeful to weigh in on the allegations of unwanted touching and kissing leveled against former Vice President Joe Biden.

O’Rourke, who currently sits third in the polls alongside Sen. Kamala Harris of California and behind Biden and Sen. Bernie Sanders of Vermont, praised the “courage” of the women who have come forward to accuse the former vice president of inappropriate behavior.

“We need to listen to those who are raising their stories who have the courage to come forward to share their experience and also to be part of the conversation about either his candidacy or how he fares as a contender for the nomination if he jumps in,” O’Rourke said Wednesday during an appearance at the National Action Network conference.

O’Rourke added: “I think ultimately that will be a decision for him to make but I’m glad people are willing to and have the courage to step up. They must be heard and must be listened to.”

OTHER 2020 DEMS SAY THEY BELIEVE BIDEN ACCUSER LUCY FLORES

The mounting scandal surrounding Biden, who has yet to officially enter the 2020 Democratic fray despite being seen as the frontrunner to challenge President Trump in the general election, started with allegations made by former Nevada state assemblywoman Lucy Flores that Biden kissed her on the back of her head during a 2014 campaign rally supporting her bid for lieutenant governor.

Flores made the accusations in a piece in New York magazine in which she accused the former vice president of approaching her from behind, putting his hands on her shoulders, sniffing her hair and kissing her on the back of the head.

"The vice president of the United States of America had just touched me in an intimate way reserved for close friends, family, or romantic partners — and I felt powerless to do anything about it," she wrote.

Since then three other women have come forward to accuse Biden of unwanted touching during public events.

Amy Lappos, a former aide to Connecticut Democrat Rep. Jim Himes, claims Biden grabbed her during a $1,000-per-plate October 2009 fundraiser.

“It wasn’t sexual, but he did grab me by the head," Lappos said. “He put his hand around my neck and pulled me in to rub noses with me. When he was pulling me in, I thought he was going to kiss me on the mouth.”

PRO-TRUMP PAC ATTACKS 'CREEPY JOE' BIDEN IN AD RECALLING CLINTON CAMPAIGN

The New York Times reported that writer D.J. Hill said Biden in 2012 put his hand on her shoulder, then dropped it down her back in a way that made her "very uncomfortable" while Hill and her husband posed for pictures with him at a fundraiser in Minneapolis. Former college student Caitlyn Caruso also told the paper that Biden "rested his hand on her thigh — even as she squirmed in her seat to show her discomfort — and hugged her 'just a little bit too long' at an event on sexual assault at the University of Nevada at Las Vegas.

Biden’s prospective Democratic opponents have been quick to weigh in, with many expressing support for his accusers while questioning whether or not Biden should enter the 2020 race.

Sen. Amy Klobuchar, D-Minn., told ABC's “This Week” on Sunday that she has no reason to doubt the allegations made by Flores. Sanders said during an interview with CBS' "Face the Nation” – when only Flores’ allegation was made public - that while he has no reason not to believe Flores, he doesn’t believe that “one incident alone” would disqualify Biden from running for the White House.

“That’s a decision for the vice president to make," Sanders said. "I’m not sure that one incident alone disqualifies anybody."

CLICK TO GET THE FOX NEWS APP

Biden – who is expected to soon launch his 2020 presidential bid – has denied ever acting inappropriately toward Flores and his spokesperson referred Fox News' requests for comment on the new allegation to Biden's earlier statements.

"In my many years on the campaign trail and in public life, I have offered countless handshakes, hugs, expressions of affection, support and comfort," Biden said in his own statement Sunday. "And not once -- never -- did I believe I acted inappropriately.  If it is suggested I did so, I will listen respectfully. But it was never my intention."

Biden added: "I may not recall these moments the same way, and I may be surprised at what I hear. But we have arrived at an important time when women feel they can and should relate their experiences, and men should pay attention. And I will.”

Fox News’ Bryan Llenas and Gregg Re contributed to this report.

Source: Fox News Politics

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Government’s Android Spy: Google Sensorvault

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Absurd Video Shows Idiot Crying Over New Star Wars Trailer

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Bombshell: House Republican Leadership Sends Deep State Draft Indictments To Justice Dept

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Source: InfoWars

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6 charged with taking English tests for Chinese students seeking visas

Federal immigration authorities said they arrested five people in California who were hired to use fake Chinese passports to take English proficiency tests so that foreign students could earn student visas. They are expected to be in court Tuesday.

A sixth person who has been charged is believed to be living in Taiwan currently.

U.S. Immigration and Customs Enforcement (ICE) made the arrests without incident Tuesday, the department said in a statement.

The six individuals have been charged with conspiring to use false passports, using false passports, and committing aggravated identity theft . They're accused of impersonating Chinese nationals required to take the Test of English as a Foreign Language (TOEFL) so they could earn a student visa.

PRESIDENT TRUMP: ‘I DON’T WANT IMMIGRANTS THAT WILL BE DEPENDENT ON WELFARE’

A federal grand jury returned the indictment on Friday. According to those charges, they all used counterfeit passports to impersonate 19 Chinese nationals at various TOEFL testing sites in Los Angeles.

The indictment also claims the leader of the scheme paid for and registered 14 Chinese nationals for TOEFL exams from 2015 to 2016 and allegedly paid three of the other arrestees about $400 for each test after they took them.

Liu Cai, 23, is living in the U.S. on a student visa and allegedly facilitated the scheme. He reportedly took at least five TOEFL exams.

Elric Zhang, 24, allegedly took five TEOFL exams, Mohan Zhang, 24, allegedly took at least two TOEFL exams under the names of foreign nationals, and Samantha Wang, 24, allegedly took at least two TOEFL exams.

ICE MAKES MORE ARRESTS AT DECOY UNIVERSITY; SOME DETAINEES BEING DEPORTED, AUTHORITIES SAY

Those three participants in the scheme were arrested in Southern California and were expected to be arraigned in U.S. District Court in downtown Los Angeles on Tuesday.

Quang Cao, 24, allegedly took at least four TOEFL exams with false identification. Cao was arrested in Stockton, Calif., and was expected to appear in the Eastern District of California Tuesday afternoon.

The sixth person who was charged, Tuan Tran, 33, allegedly took at least one TOEFL exam.

The conspiracy count has a maximum penalty of five years in federal prison, the false passport charge has a maximum sentence of 10 years and aggravated identity theft has a mandatory consecutive two-year sentence.

Source: Fox News National

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Logo of the Exxon Mobil Corp is seen at the Rio Oil and Gas Expo and Conference in Rio de Janeiro
FILE PHOTO: A logo of the Exxon Mobil Corp is seen at the Rio Oil and Gas Expo and Conference in Rio de Janeiro, Brazil September 24, 2018. REUTERS/Sergio Moraes

April 26, 2019

(Reuters) – Exxon Mobil Corp on Friday reported first-quarter profit fell sharply on lower oil and gas prices and weakness in its refining and chemicals businesses that offset modest production gains.

The largest U.S. oil producer’s first quarter earnings fell to $2.35 billion, or 55 cents a share, from $4.65 billion, or $1.09 a share, a year ago.

Analysts had expected Exxon to earn 70 cents per share, according to Refinitiv Eikon estimates.

Shares were trading down about 2.7 percent in premarket trading on Friday.

Exxon’s oil equivalent production rose 2 percent to 4 million barrels per day, up from 3.9 million bpd in the same period the year prior. The company said its output in the Permian Basin, the largest U.S. shale basin, rose 140 percent over a year ago.

(Reporting by Jennifer Hiller; Editing by Chizu Nomiyama)

Source: OANN

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A Baha’i advocacy group has expressed concerns over the fate of minority Baha’is at the hands of Yemen’s Houthi rebels ahead of the appeals hearing for one of the community leaders sentenced to death.

The Baha’i International Community said in a statement Friday that the hearing for Hamed bin Haydara, detained in 2013 and sentenced to death last year on espionage and apostasy charges, is due on Tuesday.

The statement quotes Bani Dugal, the Baha’i community representative at the United Nations, as saying the prosecution hasn’t addressed Haydara’s appeal but is instead making “absurd, wide-ranging accusations.”

International rights groups have decried the prosecution of Yemeni Baha’is by the Iran-backed Houthis.

Iran has banned the Baha’i religion, which was founded in 1844 by a Persian nobleman considered a prophet by followers.

Source: Fox News World

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Afghan President Ashraf Ghani speaks during the inauguration of the newly-elected parliament in Kabul
Afghan President Ashraf Ghani speaks during the inauguration of the newly-elected parliament in Kabul, Afghanistan April 26, 2019. REUTERS/Omar Sobhani

April 26, 2019

By Rupam Jain and Hameed Farzad

KABUL (Reuters) – Afghan President Ashraf Ghani encouraged newly-elected lawmakers to participate in the peace process with the Taliban as he opened on Friday the first session of parliament since a controversial election.

Ghani has invited thousands of politicians, religious scholars and rights activists to an assembly known as a loya jirga next week to discuss ways to end the 17-year war.

Several opposition leaders have said they will boycott the four-day assembly in Kabul, saying it was pulled together without their input and is being used by Ghani as he seeks a second term in a September presidential election.

“We have presented the peace plan on a regular basis and we are committed to it,” Ghani said in the first session since parliamentary elections marred by technical problems, militant attacks and accusations of voting fraud last year.

“Based on this plan, there will be no peace deal and negotiation that does not have the green card of the parliament,” he added.

Officials from the United States and the Taliban have held several rounds of talks to end the Afghan war.

U.S. negotiator, Zalmay Khalilzad, has reported some progress toward an accord on a U.S. troop withdrawal and on how the Taliban would prevent extremists from using Afghanistan to launch attacks as al Qaeda did on Sept. 11, 2001.

The insurgents have so far rejected U.S. demands for a ceasefire and talks on the country’s political future that would include Afghan government officials.

The loya jirga, a centuries-old institution used to build consensus among competing tribes, factions and ethnic groups, is an attempt by Ghani to influence the peace talks and cement his position for a second term, Afghan politicians and Western diplomats say.

Amid growing political divisions in Kabul, opposition politicians have demanded that Ghani step down when his mandate ends next month, and give way to an interim government to oversee peace talks with the Taliban. Ghani has ruled that out.

The country’s top court said last week Ghani can stay in office until the presidential election in September.

(Reporting by Hameed Farzad, Rupam Jain, Editing by Darren Schuettler)

Source: OANN

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Deputy Attorney General Rod Rosenstein Thursday defended special counsel Robert Mueller’s investigation while slamming former President Barack Obama’s administration for being slow to take action on Russian interference in U.S. elections and ex-FBI Director James Comey for telling Congress the agency was investigating collusion between the Trump campaign and Russia.

“Our nation is safer, elections are more secure, and citizens are better informed about covert foreign influence schemes,” Rosenstein said in a speech to the Armenian Bar Association, marking his first public remarks after the Mueller report was released, reports CBS News.

He also pointed out that the investigation revealed a pattern of computer hacking and the use of social media to undermine elections as “only the tip of the iceberg of a comprehensive Russian strategy to influence elections, promote social discord, and undermine America, just like they do in many other countries,” reports The Wall Street Journal.

The Obama administration also made “critical decisions,” including choosing not to publicize the full story about Russian hackers and social media trolling, “and how they relate to a broader strategy to undermine America,” said Rosenstein.

He noted that the Mueller probe began after Comey disclosed during a hearing before Congress that President Donald Trump “pressured him to close the investigation and the president denied that the conversation occurred.”

Rosenstein said two years ago, when he was confirmed, he was told by a Republican senator that he would be in charge of the probe and that he’d report the results to the American people.

However, he said he didn’t promise to do that, because it is “not our job to render conclusive factual findings. We just decide whether it is appropriate to file criminal charges.”

Source: NewsMax Politics

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FILE PHOTO: The Huawei logo is pictured outside its Huawei's factory campus in Dongguan, Guangdong province
FILE PHOTO: The Huawei logo is pictured outside its Huawei’s factory campus in Dongguan, Guangdong province, China, March 25, 2019. REUTERS/Tyrone Siu/File Photo

April 26, 2019

By Ben Blanchard

BEIJING (Reuters) – Britain must get to the bottom of the leak of confidential discussions during a top-level security meeting about the role of China’s Huawei Technologies in 5G network supply chains, British finance minister Philip Hammond said on Friday.

News that Britain’s National Security Council, attended by senior ministers and spy chiefs, had agreed on Tuesday to bar Huawei from all core parts of the country’s 5G network and restrict its access to non-core elements was leaked to a national newspaper.

The leak of secret discussions has sparked anger in parliament and amongst Britain’s intelligence community. Britain’s most senior civil servant Mark Sedwill has launched an inquiry and written to ministers who were at the meeting.

“My understanding from London (is) that an investigation has been announced into apparent leaks from the NSC meeting earlier this week,” said Hammond, speaking on the sidelines of a summit on China’s Belt and Road initiative in Beijing.

“To my knowledge there has never been a leak from a National Security Council meeting before and therefore I think it is very important that we get to the bottom of what happened here,” he told Reuters in a pooled interview.

British culture minister Jeremy Wright said on Thursday he could not rule out a criminal investigation. The majority of the ministers at the NSC meeting have said they were not involved, according to media reports.

Hammond said he was unaware of any previous leak from a meeting of the NSC.

“It’s not about the substance of what was apparently leaked. It’s not earth-shattering information. But it is important that we protect the principle that nothing that goes on in national security council meetings must ever be repeated outside the room.”

Allowing Huawei a reduced role in building its 5G network puts Britain at odds with the United States which has told allies not to use its technology at all because of fears it could be a vehicle for Chinese spying. Huawei has categorically denied this.

There have been concerns that the NSC’s conclusion, which sources confirmed to Reuters, could upset other allies in the world’s leading intelligence-sharing network – the Five Eyes alliance of the United States, Britain, Australia, Canada and New Zealand.

However, British ministers and intelligence officials have said any final decision on 5G would not put critical national infrastructure at risk. Ciaran Martin, head of the cyber center of Britain’s main eavesdropping agency, GCHQ, played down any threat of a rift in the Five Eyes alliance.

(Writing by Michael Holden; Editing by Mark Heinrich)

Source: OANN

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