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What’s in a name? Japan debates meaning of new ‘Reiwa’ imperial era

An employee of Todan Co. Ltd. produces calendars with the new era name 'Reiwa' in Yoshiwara
An employee of Japan's calendar maker Todan Co. Ltd. produces calendars with the new era name 'Reiwa' after the government's announcement in Yoshiwara, Ibaraki Prefecture Japan, April 1, 2019. REUTERS/Masashi Kato

April 2, 2019

By Malcolm Foster

TOKYO (Reuters) – Japanese printers rushed to make calendars emblazoned with the new imperial era name on Tuesday as the public tried to make sense of the meaning of “Reiwa” a day after its unveiling gripped the nation.

The new era begins on May 1 when Crown Prince Naruhito ascends the Chrysanthemum Throne a day after his father Emperor Akihito abdicates, ending his 31-year Heisei era.

The name, or “gengo”, is a part of daily life, used on coins, drivers’ licenses and official paperwork, as well as to count years, although Japanese also use the Western calendar.

But Reiwa’s meaning has generated confusion and controversy.

The first character, “rei,” is often used to mean “command” or “order,” which has an authoritarian nuance that offends some people. Prime Minister Shinzo Abe and his government prefer “good” or “beautiful”, a lesser known meaning of the character.

The second character, “wa,” is defined as “peace” or “harmony”, so together the two characters mean “beautiful harmony,” Japan’s consulate in New York said in a bid to clear up any confusion.

“It does not mean ‘order and harmony’ as has been reported in the press,” the consulate said in a statement.

The gengo is chosen by the cabinet — not the emperor — from a short list of candidates proposed by scholars.

While many Japanese were positive about the new name, to some, particularly younger people, it sounded harsh.

“Do they mean ‘give in to orders?’ They probably want another militarist era,” one Twitter user said.

FORCEFUL NUANCE

The mixed response may reflect a generation gap or a decline in knowledge about kanji, the Chinese characters used in Japanese and in gengo, said Masaharu Mizukami, a professor of Chinese philosophy at Chuo University in Tokyo.

“To those who don’t know the ‘good’ meaning, it can come across as negative,” he said.

Still, Mizukami said his initial impression of Reiwa wasn’t very positive because of the forceful nuance of “rei.”

In fact, “rei” was rejected in the 1860s, toward the end of the Tokugawa shogun’s rule over Japan, because the “command” meaning implied the emperor had power over the military rulers, Mizukami said.

Abe added to the confusion with a convoluted explanation of Reiwa’s meaning on Monday, saying it meant “a culture nurtured by people bringing their hearts together in a beautiful manner.”

By comparison, today’s Heisei era means “achieving peace”.

Abe stressed that for the first time the name’s source was a Japanese classic, a 1,300-year-old poem, not a Chinese text as was the case in past era names.

That Japanese origin may have been more important to Abe and other authorities than the meaning of the era name, which appeared to have been “slapped on,” said Mizukami.

INTO ACTION

While Japanese debated Reiwa’s meaning, bureaucrats on Tuesday busily updated computer software and documents which almost exclusively use the era name to get ready for May 1.

Printing shops also leapt into action.

Hours after the name was unveiled on Monday, a factory in Yoshiwara, north of Tokyo, began printing new Reiwa calendars.

Sales had dropped off since Emperor Akihito announced his desire to abdicate about two years ago, said Junichi Ishii, manager at the Todan Co. factory.

“I’m relieved that the new name was finally announced,” he said, raising his voice above the din of printing machines.

Ishii said he was sad the Heisei era was drawing to a close, but he hoped in the new era “Japan will be a place where everyone can live peacefully.”

(Reporting and writing by Malcolm Foster; additional reporting by Elaine Lies, Masashi Kato, Kwiyeon Ha and Aina Tanaka; editing by Darren Schuettler)

Source: OANN

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Moderate earthquake hits Turkey; no casualties reported

Turkish authorities say a moderately strong earthquake, with a preliminary magnitude of 5.5, has hit southwestern Turkey.

The Turkish Disaster and Emergency Management Agency said the earthquake on Wednesday was centered in the town of Acipayam, in Denizli province. It was followed by two aftershocks.

Acipayam's mayor, Hulusi Sevkan, said there were no reports of any casualties but the quake caused damage to some homes.

Turkey lies on two major fault lines and earthquakes are frequent.

In 1999, a magnitude-7.4 earthquake killed more than 17,000 people in northwestern Turkey.

Source: Fox News World

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Kuroda says BOJ will mull easing if economy loses momentum: Asahi

BOJ Governor Kuroda attends a news conference in Tokyo
Bank of Japan (BOJ) Governor Haruhiko Kuroda attends a news conference at the BOJ headquarters in Tokyo, Japan December 20, 2018. Mandatory credit Kyodo/via REUTERS ATTENTION EDITORS - THIS IMAGE HAS BEEN SUPPLIED BY A THIRD PARTY. MANDATORY CREDIT. JAPAN OUT. NO COMMERCIAL OR EDITORIAL SALES IN JAPAN.

February 22, 2019

By Leika Kihara

TOKYO (Reuters) – Bank of Japan Governor Haruhiko Kuroda said the central bank would “of course” consider easing monetary policy further if the economy lost momentum toward achieving its 2 percent inflation target, the Asahi newspaper reported on Friday.

The BOJ has various options available to ease, including cutting interest rates and accelerating government bond purchases, and could combine them if needed, Kuroda was quoted as saying in the interview with the paper conducted on Thursday.

“The BOJ will adopt policy that is most appropriate in light of economic and financial developments, and has the least side-effects,” Kuroda said, when asked how the central bank could act if it were to ramp up stimulus.

Kuroda said the BOJ must be mindful of the risk that prolonged easing could strain financial institutions, particularly regional banks already seeing their profits hurt by a dwindling population.

But he said it was inappropriate to modify the BOJ’s current policy framework before 2 percent inflation is met, according to the Asahi.

(Reporting by Leika Kihara; Editing by Gareth Jones and Hugh Lawson)

Source: OANN

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UK manufacturers warn of ‘catastrophic’ no-deal Brexit

An anti-Brexit demonstrator protests outside the Houses of Parliament, in Westminster, London
FILE PHOTO: An anti-Brexit demonstrator protests outside the Houses of Parliament, in Westminster, London, Britain, February 13, 2019. REUTERS/Hannah McKay

February 19, 2019

By David Milliken

LONDON (Reuters) – Britain faces the “catastrophic prospect” of a no-deal Brexit next month due to the selfishness of some politicians and chaotic parliamentary proceedings, the head of the country’s main manufacturing association said on Tuesday.

The strong warning from Make UK, previously known as the EEF, comes as Japanese carmaker Honda is expected to say it is preparing to shut its main UK plant with a loss of 3,500 jobs.

Nissan earlier this month canceled plans to build its X-Trail sport utility vehicle in Britain, mostly blaming “business reasons” but also citing Brexit uncertainty.

“Let me be clear … for those hard Brexiteers who accuse us of scaremongering. This is very real and very serious,” Make UK’s chair, Judith Hackitt, said in remarks ahead of the group’s annual conference.

Finance minister Philip Hammond and business minister Greg Clark – who are on the pro-European wing of Prime Minister Theresa May’s Conservative Party – as well as opposition Labour Party leader Jeremy Corbyn, are due to address the conference.

Corbyn intends to call again for May to back his proposal for a permanent customs union with the European Union and full guarantees for existing worker and consumer rights. He plans to meet chief EU negotiator Michel Barnier this week.

Britain’s parliament overwhelmingly rejected the transition deal that May negotiated with the EU and time is running out to avoid a disruptive no-deal Brexit on March 29 which would lead to the re-imposition of customs checks on British exports.

“Some of our politicians have put selfish political ideology ahead of the national interest and people’s livelihoods and left us facing the catastrophic prospect of leaving the EU next month with no deal,” Hackitt said.

British manufacturers are facing a global slowdown as well as Brexit uncertainty. Official data last week showed their output fell by the most in over five years in the final quarter of 2018.

Some 49 percent of 429 manufacturers surveyed for Make UK said a no-deal Brexit would make Britain unattractive, compared with 28 percent who said Britain would still be an attractive location, with bigger companies more likely to express concerns.

Twenty-three percent of manufacturers said they had started stockpiling raw materials ahead of Brexit, when they were surveyed by polling firm YouGov between Jan. 28 and Feb. 5, and another 24 percent said they were considering doing so.

More than half of manufacturers who had started stockpiling said it was proving a financial strain.

(Reporting by David Milliken; Editing by William Schomberg)

Source: OANN

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European lawmakers say NordLB rescue may involve state aid, urge EU probe

FILE PHOTO: European Competition Commissioner Margrethe Vestager attends the weekly College of Commissioners meeting in Brussels
FILE PHOTO: European Competition Commissioner Margrethe Vestager attends the weekly College of Commissioners meeting in Brussels, Belgium, Februray 6, 2019. REUTERS/Yves Herman/File Photo

February 19, 2019

By Francesco Guarascio and Klaus Lauer

BRUSSELS (Reuters) – The recapitalization of Germany’s NordLB bank should be investigated by the European Commission as it likely involved state aid that might have violated European Union rules, two EU lawmakers said on Tuesday.

The lender, which has been struggling for years due to its exposure to the crisis-hit shipping industry, said in February that the German regional state of Lower Saxony and Saxony Anhalt had decided to go ahead with a recapitalization, also backed by German savings banks .

The intervention of the two states, which together own 65 percent of NordLB, effectively sidelined a rival offer by private equity groups Cerberus and Centerbridge.

“There are good reasons to believe the rescue of NordLB involved state aid,” German green EU lawmaker Sven Giegold told Reuters on Tuesday before a parliament’s closed-door hearing on the matter with competition commissioner Margrethe Vestager.

A spokeswoman for the finance ministry of Lower Saxony, the largest shareholder in the bank, said the lender was seeking to have the deal recognized as “free of state aid” and was discussing the issue with the EU Commission.

A spokesman for NordLB said the bank was in contact with banking supervisory authorities and the Commission.

The Commission declined to comment after the meeting.

Giegold said it was likely the deal was not on market terms as “no buyer was ready to pay a positive net value for the bank.”

He urged NordLB to notify Brussels about the deal and called on the Commission to open an investigation to assess whether it was legal.

Under EU rules, banks’ shareholders, bondholders and, in extreme cases, even depositors should pay for a rescue before public money is used. State aid provided on terms that are better than what the market would offer is considered illegal.

NordLB’s owners could argue the rescue is not state aid, as the capital is coming from existing shareholders.

“There is an obvious state aid dimension,” the head of the parliament’s economic committee, Roberto Gualtieri, told Reuters after the hearing with Vestager, which was also attended by the EU commissioner on financial services Valdis Dombrovskis.

Gualtieri said EU rules should be applied in an intelligent way but urged the Commission “not to give the impression of using a double standard” when dealing with bank crises.

Brussels has closely monitored banking rescues in Italy and has required creditors to take losses before Banca Monte dei Paschi di Siena and two smaller lenders were saved with public money.

(Additional reporting by Silvia Aloisi in Milan; Writing by Francesco Guarascio in Brussels; Editing by Edmund Blair)

Source: OANN

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Fox News Poll 3/27/19

Source: Fox News Politics

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Bridgewater warns of peak U.S. profit margins, lower stock prices

Traders work on the floor of the NYSE in New York
FILE PHOTO: Traders work on the floor of the New York Stock Exchange (NYSE) in New York, U.S., January 29, 2019. REUTERS/Brendan McDermid

April 17, 2019

By Jennifer Ablan

(Reuters) – The major drivers of high U.S. corporate profit margins are unsustainable and “now under threat”, which will eventually result in much lower equity prices, Bridgewater Associates, the world’s largest hedge fund, said on Wednesday in a report.

“Over the last two decades, U.S. corporate profit margins have surged and have contributed more than half of the excess return of equities relative to cash,” said Bridgewater, which oversees more than $160 billion in assets.

“Without that consistent expansion of margins, U.S. equities would be 40% lower than they are today.”

Over the last few decades, almost every major driver of profit margins has improved, Bridgewater said.

“Labor’s bargaining power fell, corporate taxes fell, tariffs fell, globalization increased, technology allowed for greater scale and lower marginal costs, anti-trust enforcement fell, and interest rates fell. These factors have produced the most pro corporate environment in history. Many of these drivers of high profit margins are now under threat.”

“Some of the forces that supported margins over the last 20 years are unlikely to provide a continued boost,” Bridgewater said. “Incentives for offshore production have been reduced as global labor costs have moved closer to equilibrium, with domestic costs and rising trade conflict increasing the risk of offshoring, while the potential tax rate arbitrage from moving abroad is now much smaller.”

At the same time, popular sentiment has begun to turn against the forces driving corporate profits, as well as against the companies that have benefited most, Bridgewater said.

“We are in the midst of a populist backlash against rising inequality and increasingly seeing a move toward more protectionism,” it said in the report. “Recent surveys show increasing animosity toward globalization and the power of companies more broadly and a bit more welcoming attitudes toward government regulation of firms.”

There is also more discussion about taxing mega-profitable firms that have benefited from current government policies, it said.

For example, Europe’s potential “digital services tax” is explicitly designed to close the tax arbitrage by introducing a sales tax on online revenues from residents.

“While the current impact of these proposed rules on the overall profitability of these tech giants is relatively small, they are a straw in the wind that the tide might be turning and that the multi-decade boost from favorable taxation policies is unlikely to be repeated,” Bridgewater said.

(Reporting by Jennifer Ablan; Editing by Sonya Hepinstall)

Source: OANN

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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.

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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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