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Asian shares steady after Easter weekend; oil hits 2019 highs

Visitors are seen as market prices are reflected in a glass window at the TSE in Tokyo
FILE PHOTO: Visitors are seen as market prices are reflected in a glass window at the Tokyo Stock Exchange (TSE) in Tokyo, Japan, October 1, 2018. REUTERS/Toru Hanai

April 23, 2019

By Tomo Uetake

TOKYO (Reuters) – Asian shares were little changed on Tuesday, hovering not far from nine-month peaks hit last week, with concerns China may slow the pace of policy easing curbing the market’s enthusiasm.

MSCI’s broadest index of Asia-Pacific shares outside Japan was almost flat, while Japan’s Nikkei average eased 0.2 percent. Many markets around the world remained shut on Monday after the long Easter weekend.

China stocks fell from a 13-month high on Monday, posting their worst session in nearly four weeks, as comments from top policymaking bodies raised investor fears that Beijing will ease up on stimulative policies after some signs of stabilization in the world’s second-largest economy.

Stocks on Wall Street hovered near break-even on Monday as the benchmark S&P 500 index was about 1 percent away from its record high hit in September, while the S&P energy index led gains on higher oil prices.

Oil prices jumped more than 2 percent the previous day to a near six-month high, on growing concern about tight global supplies after the United States announced a further clampdown on Iranian oil exports.

Washington said it would eliminate in May all waivers allowing eight economies to buy Iranian oil without facing U.S. sanctions.

International benchmark Brent crude soared 2.9 percent to settle at $74.04 a barrel on Monday and U.S. West Texas Intermediate crude jumped 2.7 percent to settle at $65.70. Both indexes climbed to nearly six-month highs during the session.

U.S. crude futures last traded at $65.78 per barrel, up 0.4 percent on the day.

But sharp gains in oil prices have so far had a limited impact on the broader financial markets.

“Unless the WTI rises well above $70-75 per barrel, there will be limited impact on U.S. Treasuries and the dollar/yen,” said Makoto Noji, chief currency and foreign bond strategist at SMBC Nikko Securities.

In the currency market, the dollar index, which measures the greenback against six major currencies, eased 0.2 percent overnight and last traded steady at 97.328. The index hit a two-week high of 97.485 on Thursday, before the start of Good Friday and the Easter weekend.

Against the Japanese yen, the dollar was largely flat at 111.96 yen, while the euro was steady to the greenback at 1.2530.

With the jump in the price of oil, one of Canada’s major exports, the Canadian dollar rose 0.4 percent against its U.S. counterpart overnight and last traded at C$1.3352.

On Monday, the Russian ruble hit its highest level against the euro in more than a year, and a one month-peak versus the dollar, also driven by the jump in oil.

(Additional reporting by Hideyuki Sano; Editing by Jacqueline Wong)

Source: OANN

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Airbus sells longer-range A321s, sees quick end to Boeing crisis

The Airbus logo is pictured at Airbus headquarters in Blagnac near Toulouse
FILE PHOTO: The Airbus logo is pictured at Airbus headquarters in Blagnac near Toulouse, France, March 20, 2019. REUTERS/Regis Duvignau

April 18, 2019

TOULOUSE, France (Reuters) – The new sales chief at Europe’s Airbus hinted at orders for an unannounced new version of its A321 jet, while softening market rhetoric and predicting rival Boeing will emerge quickly from a crisis over the grounded 737 MAX.

Airbus is seeing more demand for longer-range versions of roughly 200-seat planes previously used for medium-haul routes, blurring boundaries with bigger jets, Christian Scherer said.

“We are selling increased range on the A321. People are telling us this is a great module, give me more range. We will give you the maximum range we can on the A321: how many would you like? That is what we are doing,” he told Reuters in the first substantial interview he has given since being appointed to his new role last September.

The remarks are the strongest indication yet that Airbus has quietly launched the A321XLR, a keenly awaited new version of its single-aisle franchise that competes with the Boeing 737 MAX and could brush up against a proposed new Boeing mid-market jet.

The effort to expand Airbus’ lead in the market for its cash cow predates last month’s grounding of the MAX and Scherer said he ruled out Airbus trying to exploit the 737 MAX crisis, adding that Boeing would quickly emerge from the turmoil.

Sources say Airbus has signed up several customers for the A321XLR. Airbus and Boeing compete ferociously for sales of single aisle jets like the MAX and A320 or A321.

Airbus plans to increase total single-aisle output from 57 to 63 a month from next year but recently halted plans to go as high as 70 due to objections from overstretched engine makers.

Industrial issues aside, Scherer cited single-aisle demand beyond 63 a month. Asked if the market could absorb 70, he said: “That number has been used before and I see the logic of it.”

(Reporting by Tim Hepher; Editing by Sudip Kar-Gupta)

Source: OANN

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Critics urge Presidents Day protests against Trump’s emergency declaration

U.S. President Donald Trump departs Washington aboard Air Force One
U.S. President Donald Trump and first lady Melania Trump depart Joint Base Andrews in Maryland, U.S., on their way to Mar-a-Lago in Florida February 15, 2019. REUTERS/Kevin Lamarque

February 18, 2019

NEW YORK (Reuters) – Activists called for nationwide protests on Monday’s Presidents Day holiday to demonstrate against President Donald Trump’s declaration of a national emergency to secure funding for a U.S.-Mexico border wall.

Organizers of the demonstrations, the nonprofit advocacy group MoveOn.org, said they would be held throughout the day in towns and cities including Washington, Chicago, New York, Los Angeles and San Francisco.

“Come and voice your outrage,” it said on a website set up to help protesters find their nearest event. It called Trump’s declaration an abuse of power and usurpation of Congress.

Trump invoked the emergency powers on Friday under a 1976 law after Congress declined to fulfill his request for $5.7 billion to help build the wall that was his signature 2016 campaign promise. The move was designed to let him spend money appropriated by Congress for other purposes.

Democrats have vowed to challenge it as a violation of the U.S. Constitution. Trump says a wall is needed to curb illegal immigrants and illicit drugs coming across the border.

(Reporting by Barbara Goldberg in New York; Editing by Peter Cooney)

Source: OANN

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Cyclone hit millions across Africa in record disaster: U.N.

A general view shows destruction after Cyclone Idai in Beira
A general view shows destruction after Cyclone Idai in Beira, Mozambique, March 16-17, 2019 in this still image taken from a social media video on March 19, 2019. Care International/Josh Estey via REUTERS

March 19, 2019

MAPUTO/HARARE (Reuters) – Cyclone winds and floods that swept across southeastern Africa affected more than 2.6 million people and could rank as one of the worst weather-related disaster recorded in the southern hemisphere, U.N. officials said on Tuesday.

Rescue crews are still struggling to reach victims five days after Cyclone Idai raced in at speeds of up to 170 kph (105 mph) from the Indian Ocean into Mozambique, then its inland neighbors Zimbabwe and Malawi.

Aid groups said many survivors were trapped in remote areas, surrounded by wrecked roads, flattened buildings and submerged villages.

“There’s a sense from people on the ground that the world still really hasn’t caught on to how severe this disaster is,” Matthew Cochrane, spokesman for International Federation of Red Cross and Red Crescent Societies, told a U.N. briefing in Geneva.

“The full horror, the full impact is only going to emerge over coming days,” he added.

The official death count in Mozambique stands at 84 – but its president Filipe Nyusi said on Monday he had flown over some of the worst-hit zones, seen bodies floating in rivers and now estimated more than 1,000 people may have died there.

The cyclone hit land near Mozambique’s port of Beira on Thursday and moved inland throughout the weekend, leaving heavy rains in its wake on Tuesday.

Studies of satellite images suggested 1.7 million people were in the path of the cyclone in Mozambique and another 920,000 affected in Malawi, Herve Verhoosel, senior spokesman at the U.N World Food Programme said. It gave no figures for Zimbabwe.

WORST FEARS

Several rivers had broken their banks, or were about to, leaving a huge area covered by the waters, and only accessible by air and water, Lola Castro, WFP regional director for Southern Africa, told the U.N. briefing by phone from Johannesburg.

Heavy rains preceded the cyclone, compounding the problems, said Clare Nullis of the U.N. World Meteorological Organization said .

“It the worst fears are realized … then we can say that it is one of the worst weather-related disasters, tropical-cyclone-related disasters in the southern hemisphere.” Droughts are classed as climate-related not weather-related.

In Beira, a low-lying coastal city of 500,000 people, Nullis said the water had nowhere to drain. “This is not going to go away quickly,” she said.

Beira is also home to Mozambique’s second largest port, which serves as a gateway to landlocked countries in the region.

The control room of a pipeline that runs from Beira to Zimbabwe and supplies the majority of that country’s fuel had been damaged, Zimbabwe’s Energy Minister Jorum Gumbo told state-owned Herald newspaper on Tuesday.

“We, however, have enough stocks in the country and I am told the repairs at Beira may take a week,” he was quoted as saying.

(Reporting Manuel Mucari in Maputo and Macdonald Dzirutwe in Harare; Additional reporting by Tom Miles in Geneva and Mfuneko Toyana and Emma Rumney in Johannesburg; Editing by Catherine Evans and Andrew Heavens)

Source: OANN

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Google lets Android users choose browsers to ease EU antitrust concerns

The Google logo is pictured at the entrance to the Google offices in London
The Google logo is pictured at the entrance to the Google offices in London, Britain January 18, 2019. REUTERS/Hannah McKay

April 18, 2019

BRUSSELS (Reuters) – Users of Android devices will be able to choose their browsers and search engines from five options starting on Thursday, a senior Google executive said, in a move aimed at addressing EU antitrust concerns and staving off fresh sanctions.

Hit with a record 4.34 billion euro fine last year for using the market power of its mobile software to block rivals in areas such as internet browsing, Alphabet unit Google was also ordered to come up with a proposal to give its rivals a fair chance.

The European Commission said Google had an unfair advantage by pre-installing its Chrome browser and Google search app on Android smartphones and notebooks.

The company last month said it would let Android users choose their browser and search engine but did not provide details.

Android users in Europe who open Google’s app store Google Play will now see new screens with an option to download different search apps and browsers, Paul Gennai, its product management director, said in a blog.

“Two screens will surface: one for search apps and another for browsers, each containing a total of five apps, including any that are already installed,” he said.

The five apps are chosen based on their popularity, which is determined based on industry data and the number of downloads in each country. They will then be listed in a random order.

“Where a user downloads a search app from the screen, we’ll also ask them whether they want to change Chrome’s default search engine the next time they open Chrome,” Gennai said.

The new options will appear on both existing and new Android phones in Europe.

Google faces a fine up to 5 percent of Alphabet’s average daily worldwide turnover if it fails to comply with the EU order to stop anti-competitive practices.

Lobbying group FairSearch whose Android complaint triggered the EU investigation urged regulators to take a tougher line.

“Fairsearch rejects as insufficient Google’s launch today of a choice screen for Android because it does nothing to correct the central problem that Google apps will remain the default on all Android devices,” it said in a statement.

(Reporting by Foo Yun Chee; Editing by Alissa de Carbonnel)

Source: OANN

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Judge to consider new trials for 2 in pizza delivery killing

A state judge will consider new trials for two men convicted of killing a Louisiana high school student.

The Advocate reports Judge Brenda Bedsole Ricks on Monday set a timetable for arguments on the cases of James Skinner and Darrell Hampton.

Skinner and Hampton have long claimed they didn't kill Eric Walber. The 16-year-old, who delivered pizza, was found robbed, beaten and run over on a Tangipahoa Parish road in 1998.

In March 2016, the U.S. Supreme Court overturned the conviction of Michael Wearry, the accused ringleader in the killing. The court found prosecutors violated Wearry's rights when they withheld evidence undercutting two witnesses.

Lawyers for Skinner and Hampton argue their clients' second-degree murder convictions rely on the same witnesses called by the same prosecutors who withheld the same information.

___

Information from: The Advocate, http://theadvocate.com

Source: Fox News National

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NY Files Suit Against Purdue Pharma, Sackler Family

OxyContin-maker Purdue Pharma and the family that owns the drugmaker have been hit by a lawsuit from New York state, CBS News is reporting.

State prosecutors are alleging money was fraudulently transferred out of the company.

"We found that pharmaceutical manufacturers and distributors engaged in years of deceptive marketing about the risks of opioids and failed to exercise their basic duty to report suspicious behavior, leading to the crisis we are living with today," New York Attorney General Letitia James said. "As the Sackler family and the other defendants grew richer, New Yorkers' health grew poorer and our state was left to foot the bill."

Eight members of the Sackler family used various corporate entities "as vehicles to transfer funds from Purdue directly or indirectly to themselves," the lawsuit claims, according to the network news.

The suit also alleges the Sacklers formed Rhodes, a new company, to make drugs for treating opioid addiction after Purdue was under federal investigation for its opioid marketing practices.

"The Sacklers' full understanding of opioids' abuse and addiction risk is underscored by their willingness to research, quantify, and ultimately monetize opioid abuse and addiction by pursuing the development of medications to treat the addiction their own opioids caused," the suit said.

Earlier this week, Purdue Pharma LP and members of the Sackler family reached a $270 million settlement to resolve a suit brought by Oklahoma accusing the drugmaker of fueling an opioid epidemic.

Source: NewsMax America

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Multiple people died Thursday when a semitrailer plowed into stationary traffic that resulted in explosions and flames on a Colorado freeway, authorities said.

The incident occurred just before 5 p.m. in the Denver suburb of Lakewood when a truck driver lost control while traveling east on Interstate 70, according to a preliminary investigation. The collision started a chain reaction and a diesel fuel spill, Lakewood police spokesman Ty Countryman told the Denver Post.

“This is looking to be one of the worst accidents we’ve had here in Lakewood,” he said.

The driver of the runaway truck survived. At least one truck was carrying lumber, another was hauling gravel and the third may have been carrying mattresses, KDVR-TV reported.

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Lakewood police tweeted there were multiple fatalities but did not give a specific number. Six people were taken to a hospital. Their conditions were not released, according to the paper.

Lanes in both directions were closed and expected to remain so into Friday morning.

Source: Fox News National

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President Trump will address members and leaders of the National Rifle Association on Friday at the group’s annual convention in Indiana.

Around 80,000 gun enthusiasts and more than 800 exhibitors are expected to pack the Indiana Convention Center in Indianapolis for the three-day event, the Indianapolis Star reported. It will mark the third straight year that Trump will deliver the keynote address, where he is expected to champion the rights of gun owners.

“Donald Trump is the most enthusiastic supporter of the Second Amendment to occupy the Oval Office in our lifetimes,” Chris Cox, executive director of the NRA’s Institute for Legislative Action (ILA), said in a statement. “President Trump’s Supreme Court appointments ensure that the Second Amendment will be respected for generations to come. Our members are excited to hear him speak and thank him for his support for our Right to Keep and Bear Arms.”

“Donald Trump is the most enthusiastic supporter of the Second Amendment to occupy the Oval Office in our lifetimes.”

— Chris Cox, executive director, NRA’s Institute for Legislative Action

COLORADO ENACTS ‘RED FLAG’ LAW TO SEIZE GUNS FROM THOSE DEEMED DANGEROUS, PROMPTING BACKLASH

President Donald Trump speaks at the National Rifle Association annual convention in Dallas last year. (Associated Press)

President Donald Trump speaks at the National Rifle Association annual convention in Dallas last year. (Associated Press)

Trump and Vice President Mike Pence spoke at last year’s convention in Dallas. During his speech, Trump assured gun owners that he would protect their Second Amendment rights, according to the paper.

“Your Second Amendment rights are under siege,” Trump told the cheering audience in Dallas. “But they will never, ever be under siege as long as I am your president.”

Trump has supported some gun control measures in the past. Last year, his administration imposed a ban on bump stocks, attachments that enable semiautomatic rifles to fire in rapid bursts. Although, he most recently threatened to veto two Democratic gun control bills.

This year’s convention comes as the NRA faces outside pressure and internal problems. The group has seen its legislative agenda stall amid a series of mass shootings — including a massacre at a Parkland, Fla., high school in February 2018 that left 17 dead and launched a youth movement against gun violence.

CLICK HERE TO GET THE FOX NEWS APP

It’s also grappling with infighting in its ranks, money problems and investigations into whether Russian agents courted officials and funneled money through the group.

“I’ve never seen the NRA this vulnerable,” said John Feinblatt, president of Everytown for Gun Safety, a nonprofit that advocates for gun control measure.

The convention will run through the weekend and conclude Sunday.

The Associated Press contributed to this report.

Source: Fox News Politics

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FILE PHOTO: Shoppers walk past the Debenhams department store on Oxford Street in London
FILE PHOTO: Shoppers walk past the Debenhams department store on Oxford Street in London, Britain December 15, 2018. REUTERS/Simon Dawson

April 26, 2019

(Reuters) – Ailing British retailer Debenhams said two proposed company voluntary arrangements (CVA) could see all its stores remaining open during 2019, with 22 closures planned for next year, putting about 1,200 jobs at risk.

Debenhams’ lenders took control of the retailer earlier this month in a process designed to keep its shops open at the expense of shareholders.

(Reporting by Noor Zainab Hussain in Bengaluru; editing by Gopakumar Warrier)

Source: OANN

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FILE PHOTO: Xiaomi branding is seen on a carrier bag at a UK launch event in London
FILE PHOTO: Xiaomi branding is seen on a carrier bag at a UK launch event in London, Britain, November 8, 2018. REUTERS/Toby Melville

April 26, 2019

BENGALURU (Reuters) – Chinese brands controlled a record 66 percent of Indian smartphone market in the first quarter, led by Xiaomi Corp, a report showed, with volumes rising 20 percent on the back of popularity for brands like Vivo, RealMe and Oppo.

Xiaomi’s India shipments fell by 2 percent over last year, but the Beijing-based company was still the biggest smartphone brand in the country, followed by Samsung Electronics Co Ltd, according to Hong-Kong based Counterpoint Research.

Shipment volumes for Vivo jumped 119 percent, while those of Oppo rose 28 percent.

“Vivo’s expanding portfolio in the mid-tier range ($100 to $180) drove its growth along with aggressive Indian Premier League cricket campaign,” Counterpoint analysts said.

India is the world’s fastest growing market for smartphones, where affordable pricing coupled with features like “selfie” cameras and big screens have popularized Chinese brands.

Video streaming services like Netflix Inc and Hotstar, as well as heavy usage of messaging apps like Facebook Inc’s WhatsApp have further spurred demand.

“Data consumption is on the rise and users are upgrading their phones faster as compared to other regions,” Counterpoint’s Tarun Pathak said.

“As a result of this, the premium specs are now diffusing faster into the mid-tier price brands. We estimate this trend to continue leading to a competitive mid-tier segment in coming quarters.”

(Reporting By Arnab Paul in Bengaluru; Editing by Subhranshu Sahu)

Source: OANN

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The Dalai Lama has returned to his headquarters in the north Indian hill town of Dharmsala after a brief stay in a hospital in the capital for treatment of a chest infection.

Hundreds of exiled Tibetans lined the streets of Dharmsala carrying ceremonial scarves and incense sticks to welcome the Dalai Lama on Friday.

The 83-year-old Tibetan spiritual leader told reporters that he had fully recovered, but that the illness had been “a little bit serious.” He did not give any details.

The Dalai Lama usually spends several months a year traveling the world to teach Buddhism and highlight Tibetans’ struggle for greater freedom in China. But he has cut down on his travels in the past year to take care of his health.

Source: Fox News World

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