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Hungary's Orban to host EU group leader over possible ouster

Hungary's prime minister will host the leader of the main center-right faction in the European Parliament to discuss the Hungarian ruling party's possible ouster from the group.

Prime Minister Viktor Orban's office said Monday that the meeting with Manfred Weber will take place Tuesday in Budapest.

Several smaller members of the European People's Party have called for the expulsion of Orban's Fidesz party, in part because of a government ad campaign in Hungary against the EU's migration policies.

The ads feature European Commission President Jean-Claude Juncker, who is an EPP politician, with Hungarian-American financier George Soros. Orban claims Soros is influencing EU leaders to allow large numbers of mostly Muslim migrants to come to Europe.

Weber has called for Orban to end the campaign and apologize for it.

Source: Fox News World

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Analysts expect China to cut bank reserve ratios soon

FILE PHOTO: Headquarters of the PBOC, the central bank, is pictured in Beijing
FILE PHOTO: Headquarters of the People's Bank of China (PBOC), the central bank, is pictured in Beijing, China September 28, 2018. REUTERS/Jason Lee

April 2, 2019

SHANGHAI (Reuters) – China’s central bank is expected to cut banks’ cash reserve requirements again soon to bolster financial system liquidity as it looks to support the slowing economy, analysts said, as market speculation over another policy move grows.

Liquidity conditions in China’s banking system usually tighten in April as companies make first-quarter tax payments, boosting demand for cash and sucking funds out of the market.

But China watchers say Beijing will be keen to reduce the risk of any financing crunches, especially amid early signs that a spate of economic support measures in recent months are starting to take hold.

A marked tightening in liquidity could run the risk of pushing up interbank money rates, which the PBOC has been guiding lower to reduce strains on corporate balance sheets. Expectations of more stimulus have also been a major driver behind a sharp rally in China’s stock markets this year that is attracting more local and foreign investors.[.SS]

Market participants expect tax payments, the issuance of local government bonds and the maturing of medium-term lending facility (MLF) loans to drain more than 1 trillion yuan ($148.77 billion) in liquidity this month.

That has prompted growing market chatter over when the PBOC will reduce banks’ reserve requirement ratios (RRR) next to make up the funding gap, after five cuts over the past year.

On Friday, chat groups on China’s popular social media platform WeChat shared what appeared to be a paragraph pasted from a story by the official Xinhua news agency saying that the People’s Bank of China had announced a cut in the reserve requirement ratio (RRR), to take effect on April 1.

In a post to its official account on China’s Twitter-like Weibo service, the PBOC denied the reports. On Tuesday morning, the PBOC went further, saying it had asked police to investigate.

MAINTAINING CALLS FOR A CUT​​​​

For a market accustomed to seeing the central bank ignore such rumors, its quick response came as a surprise. But many market watchers nevertheless say market conditions continue to point to an imminent cut.

Iris Pang, Greater China economist at ING, said the PBOC’s reaction showed it is becoming more sensitive to market speculation and movements.

“The timing of the RRR cut is important to interbank interest rate movements, it is therefore (necessary that) the central bank clarify quickly,” Pang said, maintaining her call for an RRR cut in the first two weeks of this month.

Raymond Yeung, chief economist for Greater China at ANZ, is also keeping his forecast unchanged.

“We believe that the PBOC will cut the RRR again in mid-April. Based on our research on liquidity conditions, an RRR cut is still needed. We will not change our expectations for the RRR cut just because of this announcement,” Yeung said.

The state-run Economic Information Daily on Tuesday reported Sheng Songcheng, a former PBOC official, as saying that he sees room to lower the reserve ratio further, and that such a move is possible, but it would require an assessment of current economic conditions and overall financial market liquidity.

“(The central bank) will first gauge economic data from the first quarter to decide whether to cut the RRR. If indicators suggest the economy has already stabilized or is about to stabilize, the necessity of lowering the RRR is not huge,” Sheng was quoted as saying.

Activity in China’s vast manufacturing sector unexpectedly returned to growth in March, both official and private business surveys showed this week.

But analysts cautioned it is too early to tell if the economy is stabilizing, and further support is likely to be needed to produce a sustainable turnaround.

March data will be released around mid-April with first-quarter GDP on April 17.

Huge amounts of medium-term loans coming due in the second quarter could change the bank’s calculus.

“The chance (of an RRR cut) is still there for April to make up the loss from the maturing MLFs,” said Tommy Xie, economist at OCBC Bank in Singapore.

But Xie noted recent comments from PBOC Governor Yi Gang had tempered market expectations somewhat.

Yi said in March that there is still some room for the PBOC to cut RRRs, but less than a few years ago when ratios were much higher.

Following Yi’s comments, some analysts such as ING’s Pang have trimmed forecasts for the size of each future cut to 50 basis points from 100 bps.

A batch of 366.5 billion yuan worth of MLF loans is set to expire on April 17, and a total of 1.1855 trillion yuan worth of the loans are due to mature in the second quarter, according to Reuters calculations based on official data.

The PBOC cut the RRR in early January and used freed-up funds to repay MLF loans in the first quarter of 2019.

($1 = 6.7216 Chinese yuan)

(Reporting by Winni Zhou and Andrew Galbraith; Editing by Kim Coghill)

Source: OANN

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Family names officers in fatal shooting by Park Police

The family of a northern Virginia man shot to death by U.S. Park Police in 2017 has identified the two officers in an amended wrongful-death lawsuit.

Bijan Ghaiser was shot on Nov. 17, 2017, after a police chase on the George Washington Parkway.

In a federal lawsuit filed in August, Ghaiser's family described the shooting as "egregious, senseless and unlawful." The family identified the officers as Alejandro Amaya and Lucas Vinyard in a court filing Friday.

A Park Police spokesman declined comment. Both officers have been on paid administrative duties since the shooting. Vinyard has worked for the Park Police since 2007, while Amaya joined the force in 2009.

Neither officer could immediately be reached for comment Friday. The names of their attorneys were not listed in court documents.

Source: Fox News National

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U.S. Senate votes to confirm lobbyist Bernhardt as Interior Secretary

FILE PHOTO: Former energy lobbyist David Bernhardt testifies before a Senate Energy and Natural Resources Committee
FILE PHOTO: Former energy lobbyist David Bernhardt waits to testify before a Senate Energy and Natural Resources Committee hearing on his nomination of to be Interior secretary, on Capitol Hill in Washington, U.S., March 28, 2019. REUTERS/Yuri Gripas/File Photo

April 11, 2019

(Reuters) – U.S. senators on Thursday voted to confirm former energy lobbyist David Bernhardt as Secretary of the Department of Interior.

With voting still ongoing, Bernhardt had secured 53 votes in favor of his confirmation versus 39 opposed.

(Reporting by Nichola Groom in Los Angeles; Editing by Jeffrey Benkoe)

Source: OANN

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Julius Baer gets into crypto banking with SEBA partnership

The sign for Swiss bank Julius Baer is seen at a branch office in Luzern
The sign for Swiss bank Julius Baer is seen at a branch office in Luzern, Switzerland, November 23, 2017. REUTERS/Arnd Wiegmann

February 26, 2019

By Brenna Hughes Neghaiwi

ZURICH (Reuters) – Julius Baer plans to offer access to digital assets through a partnership with Swiss start-up SEBA Crypto in the latest move into cryptocurrencies by a Swiss private bank.

The partnership, which follows a similar move by smaller rival Falcon Private Bank, will enable customers of Julius Baer, Switzerland’s third-largest listed bank, to store, trade and invest in digital assets, the two firms said on Tuesday.

Banks see promise in the blockchain technology underpinning cryptocurrencies, but have not rushed into an industry which has faced regulatory scrutiny and extreme price swings.

Falcon has allowed private and institutional clients to invest in bitcoin, ether and litecoin and has gradually expanded its offerings since a partnership with Bitcoin Suisse in 2017.

Meanwhile, JPMorgan Chase this month said it would launch its own digital coin.

“We are convinced that digital assets will become a legitimate sustainable asset class of an investor’s portfolio,” Julius Baer markets head Peter Gerlach said in a statement.

SEBA is seeking a license from Switzerland’s financial market supervisor to build a bank offering cryptocurrency services as well as extending traditional banking services to firms in the new industry.

It closed a 100 million Swiss franc ($100 million) funding round in September and plans to launch its own cryptocurrency via an initial coin offering in the third quarter this year. It aims to go live during the second quarter of this year.

SEBA’s partnership with Julius Baer, which also made a minority investment into the startup last year, will come into effect when it gets a banking and securities dealer license.

Prior to this, the companies could not specify which digital assets and services would be offered to Julius Baer’s clients, a spokeswoman for the bank said.

(Reporting by Brenna Hughes Neghaiwi; Editing by Alexander Smith)

Source: OANN

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Explainer: Mueller says no collusion. Barr says no obstruction. What’s next for Trump?

FILE PHOTO: Special Counsel Robert Mueller departs after briefing the U.S. House Intelligence Committee on Capitol Hill in Washington
FILE PHOTO: Special Counsel Robert Mueller departs after briefing the U.S. House Intelligence Committee on his investigation of potential collusion between Russia and the Trump campaign on Capitol Hill in Washington, U.S., June 20, 2017. REUTERS/Aaron P. Bernstein/File Photo

March 25, 2019

By Andy Sullivan

WASHINGTON (Reuters) – Special Counsel Robert Mueller has concluded that nobody associated with President Donald Trump’s campaign “conspired or knowingly coordinated” with Russia during the 2016 presidential election, and U.S. Attorney General William Barr says he does not see enough evidence to charge Trump with obstruction of justice.

But that does not necessarily mean Trump is in the clear – he still faces multiple investigations into his business and other aspects of his political campaign, and Democrats are launching a wave of probes from Capitol Hill.

Following are some possible next steps as Washington continues to wrestle over Russia’s role in the election, the conduct of Mueller’s investigation and other aspects of the Trump-Russia saga.

HOW MUCH OF MUELLER’S REPORT CAN BE MADE PUBLIC?

Barr said he wants to release as much of Mueller’s report as he can, as long as it does not undermine legal proceedings that should be kept secret, such as grand jury interviews, or interfere with other ongoing investigations. He is now going through the report to determine what can be released.

Democrats are pressing Barr to release the entire report so they can draw their own conclusions. If he does not do so, expect a protracted tug-of-war that could end up in court.

THE QUESTION OF OBSTRUCTION

Foremost on Democrats’ minds is whether Trump obstructed justice by interfering with Mueller’s probe and other investigations.

Barr says he did not, but he adds that Mueller presented evidence on both sides of the question. Democrats will press for access to Mueller’s full report – as well as the underlying evidence he collected over the course of an investigation that interviewed 500 witnesses and issued more than 2,800 subpoenas.

The Democratic chairs of six House of Representatives committees said on Friday they expected that evidence to be turned over on request to their panels, which cover everything from taxes to banking.

The House Judiciary Committee is also expected to continue its own investigation into alleged obstruction of justice after requesting documents from 81 people and organizations several weeks ago.

TRUMP’S ALLIES SAY IT’S TIME TO MOVE ON – OR MAYBE NOT

The Russia probe has dogged Trump’s presidency from his first months in office. Trump allies say it is now time to move on and focus on substantive issues like trade and the economy.

But some of Trump’s biggest supporters on Capitol Hill do not want to put the issue to rest just yet.

Senate Judiciary Committee Chairman Lindsey Graham, a Republican, has said he wants to investigate whether top officials at the Justice Department discussed forcing Trump from office, and is pressing the FBI to hand over documents relating to their surveillance of Carter Page, a foreign policy adviser on Trump’s election team.

BARR ON THE HILL

House Judiciary Committee Chairman Jerrold Nadler, a Democrat, said he planned to ask Barr to testify before his committee to explain why he thought Trump should not be charged with obstruction of justice.

Many Democrats are already suspicious of Barr’s views on the issue. As a private lawyer, Barr wrote an unsolicited memo to the Justice Department last year arguing that Mueller’s obstruction inquiry was “fatally misconceived” and saying that presidents have “all-encompassing” authority over law enforcement investigations, even those that relate to him directly.

Barr’s views of presidential power are relevant not only when it comes to obstruction of justice but other issues like how much the administration is required to cooperate with congressional investigators – which will be a key issue over the next two years.

Barr faced pointed questions from Democrats during his January confirmation hearing. Any session devoted to obstruction of justice and presidential powers could be much more contentious.

MUELLER SPEAKS?

Mueller has not spoken publicly over the course of the 22-month investigation, but that might change now that his work is done.

Nadler and House Intelligence Committee Chairman Adam Schiff have said they may try to get him to testify in front of Congress. The questioning might be relatively polite – as a former FBI director and decorated Vietnam War veteran, Mueller is one of the most respected people in Washington.

But his testimony may not be that revealing. Mueller has cultivated a reputation as a scrupulous prosecutor, and he may not be willing to discuss evidence or reach conclusions not contained in his report. Also, as special prosecutor, he is required to defer to Barr as to what can be disclosed to the public.

(Reporting by Andy Sullivan; Editing by Ross Colvin and Peter Cooney)

Source: OANN

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Mississippi mom arrested after 2 of 3 kids drown in locked vehicle while she was shopping, police say

A Mississippi woman was arrested on Monday after her two of her three children drowned in her locked vehicle over the weekend while she was in a nearby store, police said.

Jenea Payne, 25, was at a Stop&Shop in Leland, a city roughly 85 miles northwest of Jackson, while her three young children, ages 1 to 4, were inside her Nissan Pathfinder, the Leland Police Department wrote on Facebook.

MOM KILLED 11-YEAR-OLD TO KEEP HER FROM HAVING SEX: SHERIFF

Payne told investigators that when she exited the store on Saturday, she saw her vehicle was gone and had rolled into Deer Creek.

Police officers and firefighters “jumped into the creek and attempted to burst the windows out of the vehicle in order to get the kids out.”

First responders were only able to rescue one child from the vehicle, and the other two floated away down the creek in the locked SUV, according to police.

A rescue dive team found the vehicle with the children still inside hours later.

Steve Smith, 4, and Rasheed Johnson, Jr., 1, were pronounced dead by the Washington County coroner, officials said.

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Marcus Davis, assistant chief of police, told the Clarion Ledger that investigators believe the 4-year-old put Payne’s keys in the ignition, turned the vehicle on and put it in neutral before it rolled off.

Payne was booked on Monday and charged with two counts of manslaughter-culpable negligence and one count of child neglect, the police department wrote. She was released on her own recognizance after she made an initial court appearance.

Source: Fox News National

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Traders work on the floor at the NYSE in New York
FILE PHOTO: Traders work on the floor at the New York Stock Exchange (NYSE) in New York, U.S., April 24, 2019. REUTERS/Brendan McDermid

April 26, 2019

By Sruthi Shankar and Amy Caren Daniel

(Reuters) – U.S. stock index futures were flat on Friday, as investors paused ahead of GDP data, which is expected to show the world’s largest economy maintained a moderate pace of growth in the first quarter.

Gross domestic product probably increased at a 2% annualized rate in the quarter as a burst in exports, strong inventory stockpiling and government investment in public construction projects offset a slowdown in consumer and business spending, according to a Reuters survey of economists.

The Commerce Department report will be published at 8:30 a.m. ET.

The GDP data comes as investors look for fresh catalysts to push the markets higher. The S&P 500 index is about 0.5% below its record high hit in late September, after surging nearly 17% this year.

First-quarter earnings have been largely upbeat, with nearly 78% of the 178 companies that have reported so far surpassing earnings estimates, according to Refinitiv data.

Wall Street now expects S&P 500 earnings to be in line with the year-ago quarter, a sharp improvement from the 2.3% fall expected at the start of April.

Amazon.com Inc rose 0.9% in premarket trading after the e-commerce giant reported quarterly profit that doubled and beat estimates on soaring demand for its cloud and ad services.

Ford Motor Co shares surged 8.5% after the automaker posted better-than-expected first-quarter earnings largely due to strong pickup truck sales in its core U.S. market.

Mattel Inc jumped 8% after the toymaker beat analysts’ estimates for quarterly revenue, as a more diverse range of Barbie dolls powered sales in the United States.

At 6:52 a.m. ET, Dow e-minis were down 35 points, or 0.13%. S&P 500 e-minis were down 1.5 points, or 0.05% and Nasdaq 100 e-minis were up 10.75 points, or 0.14%.

Among decliners, Intel Corp slumped 7.7% after it cut its full-year revenue forecast and missed quarterly sales estimate for its key data center business.

Rival Advanced Micro Devices declined 0.8%.

Oil majors Exxon Mobil Corp and Chevron Corp are expected to report results later in the day.

(Reporting by Sruthi Shankar and Amy Caren Daniel in Bengaluru; Editing by Anil D’Silva)

Source: OANN

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General view of a destroyed building during World War II is pictured in Warsaw
General view of a destroyed building during World War II is pictured in Warsaw, Poland April 26, 2019. REUTERS/Kacper Pempel

April 26, 2019

By Joanna Plucinska

WARSAW (Reuters) – Germany could owe Poland more than $850 billion in reparations for damages it incurred during World War Two and the brutal Nazi occupation, a senior ruling party lawmaker said.

Some six million Poles, including three million Polish Jews, were killed during the war and Warsaw was razed to the ground following a 1944 uprising in which about 200,000 civilians died.

Germany, one of Poland’s biggest trade partners and a fellow member of the European Union and NATO, says all financial claims linked to World War Two have been settled.

The right-wing Law and Justice (PiS) has revived calls for compensation since it took power in 2015 and has made the promotion of Poland’s wartime victimhood a central plank of its appeal to nationalism.

PiS has yet to make an official demand for reparations but its combative stance towards Germany has strained relations.

“Poland lost not only millions of its citizens but it was also destroyed in an unusually brutal way,” Arkadiusz Mularczyk, who heads the Polish parliamentary committee on reparations, told Reuters in an interview.

“Many (victims) are still alive and feel deeply wronged.”

His comments come a month before European Parliament elections in which populist and nationalist parties are expected to do well. Poland will also hold national elections later this year, with PiS still well ahead of its rivals in opinion polls.

EU LARGESSE

Mularczyk said the reparations figure could amount to more than 10 times the estimated 100 billion euros ($111 billion) that Poland has received so far in European Union funds since it joined the bloc in 2004.

Germany is the biggest net donor to the EU budget and some Germans regard its contributions as generous compensation to recipient countries like Poland which suffered under Nazi rule.

In 1953 Poland’s then-communist rulers relinquished all claims to war reparations under pressure from the Soviet Union, which wanted to free East Germany, also a Soviet satellite, from any liabilities. PiS says that agreement is invalid because Poland was unable to negotiate fair compensation.

Mularczyk said his committee hoped to complete its report on the reparations issue by Sept. 1, the 80th anniversary of Hitler’s invasion.

Accusing Berlin of playing “diplomatic games” over the issue, he said: “The matter is being swept under the rug (by Germany) … until it’ll be wiped from the memory, from people’s awareness.”

His comments come after the Greek parliament voted this month to seek billions of euros in German reparations for the Nazi occupation of their country.

(Additional reporting by Anna Wlodarczak-Semczuk, Editing by Justyna Pawlak and Gareth Jones)

Source: OANN

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FILE PHOTO - Otto Frederick Warmbier is taken to North Korea's top court in Pyongyang North Korea
FILE PHOTO – Otto Frederick Warmbier (C), a University of Virginia student who was detained in North Korea since early January, is taken to North Korea’s top court in Pyongyang, North Korea, in this photo released by Kyodo March 16, 2016. Mandatory credit REUTERS/Kyodo/File Photo

April 26, 2019

WASHINGTON (Reuters) – U.S. President Donald Trump on Friday said the United States did not pay any money to North Korea as it sought the release of comatose American student Otto Warmbier.

The Washington Post reported on Thursday that Trump had approved payment of a $2 million bill from North Korea to cover its care of the college student, who died shortly after he was returned to the United States after 17 months in a North Korean prison.

(Reporting by Makini Brice and Susan Heavey)

Source: OANN

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Al-Qaida in Yemen is vowing to avenge beheadings carried out by Saudi Arabia this week — an indication that some of the 37 Saudis executed on terrorism-related charges were members of the Sunni militant group.

Al-Qaida in the Arabian Peninsula, as the branch is called, posted a statement on militant-linked websites on Friday, accusing the kingdom of offering the blood of the “noble children of the nation just to appease America.”

The statement says al-Qaida will “never forget about their blood and we will avenge them.”

U.S. ally Saudi Arabia on Tuesday executed 37 suspects convicted on terrorism-related charges. Most were believed to be Shiites but at least one was believed to be a Sunni militant.

His body was pinned to a pole in public as a warning to others.

Source: Fox News World

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For two friends with checkered pasts it was the luck of a lifetime: a 4 million-pound ($5.2 million) lottery win.

But Mark Goodram and Jon-Ross Watson may see their celebrations cut short.

The Sun newspaper reports that Britain’s National Lottery is withholding the payout as it investigates whether the men, who have a string of criminal convictions, used illicit means to buy the winning ticket.

The Sun said neither man has a bank account, leading lottery organizers to investigate how they obtained the bank-issued debit card that paid for the 10 pound ($13) scratch card.

Camelot, which runs the lottery, said Friday it couldn’t confirm details of the story because of winner-anonymity rules. The firm said it holds a “thorough investigation” if there is any doubt about a claim.

Source: Fox News World

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