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French parliament adopts proposals for privatizations and ADP stake sale

FILE PHOTO: A logo of Groupe ADP (Aeroports de Paris) is seen during the company's Investor day in Paris
FILE PHOTO: A logo of Groupe ADP (Aeroports de Paris) is seen during the company's Investor day in Paris, France, April 5, 2019. REUTERS/Christian Hartmann/File Photo

April 11, 2019

PARIS (Reuters) – French lawmakers adopted on Thursday a government bill aimed at kickstarting a wave of privatizations, including a sale of the state’s stake in airports group ADP, to raise cash for a new innovation fund.

The Assemblee Nationale – in which President Emmanuel Macron’s centrist LREM party has a commanding majority – voted in favor of the so-called “Loi Pacte” legislation bill, with 147 votes in favor of the bill versus 50 against.

“This is a law which will help our economy and prepare us for the future,” French Finance Minister Bruno Le Maire told reporters in the parliament.

“We want to make ADP a world champion in terms of airport traffic,” he added.

Macron’s government has consistently said it aims to start the ADP privatization process in 2019, but the plan has been criticized by some opposition parties over fears it could result in job cuts or a loss of control for a key national asset.

Those privatization proposals form part of a broader strategy to raise cash to boost the economy and finance technological innovations in France.

Le Maire had said last year that France would block any moves by a foreign power to gain control of ADP.

Based on current market prices, the French state’s 50.6 percent shareholding in ADP is worth around 8.8 billion euros ($9.92 billion).

Privatizations are only part of the wide-ranging law, which also reduces red tape for starting new firms and makes it easier to introduce employee profit-sharing schemes.

(Reporting by Sudip Kar-Gupta; Editing by Leigh Thomas)

Source: OANN

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Alibaba head’s remarks spark debate over China working hours

Remarks by the head of Chinese online business giant Alibaba that young people should work 12-hour days, six days a week if they want financial success have prompted a public debate over work-life balance in the country.

Jack Ma is one of China's richest men and his comments last week brought both condemnation and support as China's more mature economy enters a period of slower growth.

Newspaper People's Daily, the ruling Communist Party's mouthpiece, issued an editorial, saying mandatory overtime reflects managerial arrogance and was also impractical and unfair to workers. Online complaints included blaming long work hours for a lower birth rate in the country.

Ma has responded to the criticism by saying work should be a joy and also include time for study, reflection and self-improvement.

Source: Fox News World

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As recounts in Istanbul end, Turkey’s opposition expects mandate

FILE PHOTO: Supporters of main opposition CHP wave flags as they listen to mayoral candidate Ekrem Imamoglu during a gathering in Istanbul
FILE PHOTO: Supporters of main opposition Republican People's Party (CHP) wave flags as they listen to mayoral candidate Ekrem Imamoglu during a gathering in Istanbul, Turkey, April 12, 2019. REUTERS/Murad Sezer/File Photo

April 17, 2019

By Tuvan Gumrukcu and Ece Toksabay

ANKARA (Reuters) – Recounts of local election votes in Istanbul ended on Wednesday and the main opposition candidate said he expected to be installed as mayor despite an appeal by President Tayyip Erdogan’s party to re-run the election in Turkey’s largest city.

Initial results from the March 31 local elections gave a narrow victory to the main opposition Republican People’s Party (CHP) in Istanbul, Turkey’s commercial hub, ending 25 years of control by Erdogan’s AK Party and its Islamist predecessors.

The loss is especially hard for Erdogan, who launched his political career in Istanbul as mayor in the 1990s.

On Tuesday, after 16 days of appeals and recounts, the AKP asked the High Election Board (YSK) to annul and re-run the election in Istanbul over what it said were irregularities. Its nationalist MHP allies made a similar request on Wednesday.

The AKP also urged officials to block CHP candidate Ekrem Imamoglu from receiving his mandate until a ruling on their appeal was made.

However Imamoglu said that with all recounts across the city ending on Wednesday, he will begin working as mayor even if he is not granted an official mandate from the YSK. The AKP was trying to pressure officials into making decisions, he said.

“As soon as the records are finalised, we will have received our duty, that is the law,” Imamoglu told reporters in Istanbul.

The AKP and MHP allies also appealed to annul elections in Istanbul’s Maltepe district, where the last recount was completed and the CHP candidate for district leader given his mandate earlier on Wednesday.

The repeated AKP challenges have fueled frustration among CHP supporters, which spilled over into football stadiums at the weekend when fans chanted at top Istanbul derby matches for the mayoral mandate to be given to their candidate.

“ORGANIZED FRAUD”

“There are way too many irregularities,” AKP Deputy Chairman Ali Ihsan Yavuz said, presenting the party’s justification for its demand for a new vote. “We are saying that organized fraud, unlawfulness and crimes were committed.”

CHP Deputy Chairman Muharrem Erkek responded that there were “no concrete documents, information or evidence in the AKP appeal for an annulment”.

“There is no legitimate reason at all. You are using your right (to appeal) to damage the will of Istanbul.”

While the AKP appears to have lost control of the mayorship in Istanbul, initial results showed the party had won most seats in its municipal councils. The AKP’s re-run appeal applies only to the mayoral elections, not those for municipal councils.

Wolfango Piccoli, co-president of Teneo political risk advisers, said it was puzzling to call only for a re-run of the mayoral elections, and added that some of the areas where the AKP claimed fraud took place were under its responsibility.

Uncertainty over the election results has also put pressure on financial markets, pushing the lira down nearly 5 percent.

“From the market perspective, an extended period of uncertainty around elections is a bad idea — it would suggest more election-related policy easing which is bad for the rebalancing story,” Tim Ash, senior emerging markets strategist at BlueBay Asset Management, told Reuters.

Erdogan had vowed that Turkey would enter a four and half year period with no elections after March 31, during which the ailing economy would be the focus. If the AKP appeal is approved, Istanbul, which makes up more than a third of Turkey’s economy, will head to polls again on June 2.

(Writing by Tuvan Gumrukcu; Editing by Dominic Evans and Peter Graff)

Source: OANN

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U.S. official says Mexico not looking to roll back energy reform

FILE PHOTO: Deputy Secretary of the U.S. Department of Energy Brouillette attends a meeting of the
FILE PHOTO: Deputy Secretary of the U.S. Department of Energy Dan Brouillette attends a meeting of the "Energy and Climate Partnership of the Americas" (III ECPA) in Vina del Mar, Chile, September 7, 2017 REUTERS/Rodrigo Garrido/File Photo

April 12, 2019

MERIDA, Mexico (Reuters) – Mexico’s new government has indicated it does not wish to roll back an energy overhaul passed by the previous administration which opened up oil production and exploration to private capital, a senior U.S. government official said on Friday.

Speaking on the sidelines of meetings between Mexican and U.S. officials in the eastern city of Merida, U.S. Deputy Energy Secretary Dan Brouillette said Mexico’s Energy Minister Rocio Nahle had said her government did not wish to repeal the reform.

Mexican President Andres Manuel Lopez Obrador had been a staunch critic of the energy overhaul prior to winning election in July 2018. However, he has since said he will give private companies some time to show they can increase oil production.

(Reporting by Anthony Esposito; Editing by Dave Graham)

Source: OANN

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GOP Senators Introduce Bill to Cut Immigration, Reform System

Three Republican senators on Wednesday introduced legislation that would cut down overall immigration levels to limit low-skilled workers from entering the country, The Hill reported.

The legislation, called the Reforming American Immigration for Strong Employment (RAISE) Act, would replace the current employment-visa system with a skills-based framework that gives priority to immigrants who are more educated, speak English and have a history of achievement.

Such a reform, its supporters say, would boost the wages of the working class and create jobs.

“For decades, our immigration system has been completely divorced from the needs of our country and has harmed the livelihoods of working-class Americans,” said Sen. Tom Cotton, one of the sponsors of the bill along with  Sen. David Perdue and Sen. Josh Hawley.

Cotton's office said the bill would sharply curtail visa allotments by 41 percent in its first year, the Washington Examiner reported.

Although the act would prioritize the legal entry of immediate family members of US residents, it would end preferences for extended family members and adult children, according to The Hill.

The act is also an attempt to stymie current attempts from inside the White House, led by senior adviser Jared Kushner,  to boost  the number of workers permitted to enter the U.S. to fill needed job vacancies, especially in the agriculture and hospitality industries, according to Politico.

Source: NewsMax Politics

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Time to drain pipes the swamp of these LGBT elites!

After Milo’s fake scandal, Dr. Drew Pinsky pointed out the peculiar fact that that Milo’s scandal involved a pedophile VICTIM being accused of “endorsing pedophilia.” What an insightful man Dr. Drew is! You would think that gay journalists could also come to Milo’s defense after these ridiculous accusations. On the contrary, several gay newspapers–such as […]

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FILE PHOTO: Customers shop in a Sainsbury's store in Redhill
FILE PHOTO: Customers shop in a Sainsbury’s store in Redhill, Britain, March 27, 2018. REUTERS/Peter Nicholls/File Photo

April 26, 2019

By James Davey

LONDON (Reuters) – With Sainsbury’s dream of creating Britain’s biggest supermarket group in tatters, its chastened CEO Mike Coupe needs to reassure investors he has the plan to arrest a sales decline when he presents annual results next week.

Britain’s competition regulator blocked Sainsbury’s 7.3 billion pound ($9.4 billion) takeover of Walmart’s Asda on Thursday, saying the deal would increase prices. Sainsbury’s shares fell 5 percent and are down 22 percent over the last three months.

For Sainsbury’s fourth quarter to March 9 analysts are on average forecasting a 1.6 percent fall in like-for-like sales, which would follow 1.1 percent decline over the Christmas period.

Monthly industry data from researcher Kantar has also shown Sainsbury’s as the weakest performer of the big four grocers this year and this month it lost its status as Britain’s No. 2 supermarket group by market share to Asda.

While Sainsbury’s has struggled, market leader Tesco has gained momentum, this month reporting a 34 percent jump in full year profit.

Prohibition of the deal was a major blow to Coupe, its architect and Sainsbury’s boss since 2014.

Martin Scicluna became Sainsbury’s chairman last month and when bedded-in may decide that if the group needs a major shake-up it is best carried out by a new leader.

Much will depend on the attitude of 22 percent shareholder the Qatar Investment Authority, which has so far declined to comment, as well as Coupe’s own appetite to continue after 15 years at the group.

THE RIGHT STRATEGY?

Coupe said on Thursday he was confident Sainsbury’s was pursuing the right strategy.

That was a clear indication that Wednesday’s results statement will not include radical changes to the group’s plans, such as a big margin reset — sacrificing profit to drive sales.

However, sources connected to Sainsbury’s said Coupe would likely acknowledge that more needs to be done on prices, so the supermarket business can better compete with its big four rivals – Tesco, Asda and No. 4 Morrisons – as well as German-owned discounters Aldi and Lidl.

Coupe’s strategy is based on differentiating Sainsbury’s food offer, growing its general merchandise, clothing business and bank, while investing in convenience and online channels.

Some analysts believe major change is needed.

HSBC analyst David McCarthy reckons Sainsbury’s needs a margin reset, should allocate more space for core lines and needs to drive better store standards. He said Sainsbury’s might consider closing down space in some of its larger stores and reducing its non-food offer.

For the full 2018-19 year analysts are on average forecasting a pretax profit of 626 million pounds, up from 589 million pounds in 2017-18 – a second straight year of profit growth. A full year dividend of 10.5 pence per share is forecast versus 10.2 pence last time.

Bank and lawyer fees related to the proposed combination with Asda were 17 million pounds in the first half and have reportedly jumped to around 50 million pounds.

(Reporting by James Davey; Editing by Keith Weir)

Source: OANN

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FILE PHOTO: FILE PHOTO: A Canadian dollar coin commonly known as the
FILE PHOTO: A Canadian dollar coin, commonly known as the “Loonie”, is pictured in this illustration picture taken in Toronto, Ontario, Canada, January 23, 2015. REUTERS/Mark Blinch/File Photo/File Photo

April 26, 2019

OTTAWA (Reuters) – Canada posted a budget surplus in the first 11 months of the 2018/19 fiscal year compared to a deficit the year earlier as revenues increased mostly on higher tax incomes, the finance department said on Friday.

The surplus for April-February was C$3.1 billion, compared to a deficit of C$6 billion in the same 2017/18 period. Revenues climbed by 8.5 percent, mainly due to higher tax receipts, while program expenses rose by 4.8 percent.

The surplus for February was C$4.3 billion compared with C$2.8 billion in February 2018. Revenues jumped by 12.2 percent while program expenses posted a more modest 6.9 percent gain.

Last month, the Liberals unveiled their new budget, projecting a C$14.9 billion deficit in 2018/19, with the deficit rising to C$19.8 billion in fiscal 2019/20.

(Reporting by Julie Gordon in Ottawa; Editing by Chizu Nomiyama)

Source: OANN

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President Trump said Friday he would beat Joe Biden “easily” in the 2020 presidential election, suggesting the former vice president could not have enough “energy” to hold the post—taking an apparent swipe at his age.

The president, departing the White House, was asked about Biden’s entrance into the Democratic primary field. Biden announced his presidential bid early Thursday morning, marking his third attempt at the White House.

JOE BIDEN OFFICIALLY LAUNCHES 2020 PRESIDENTIAL BID

“I think we’d beat him easily,” Trump told reporters Friday.

Trump, 72, said he feels “young” and is ready for 2020, and another term for his administration.

“I feel like a young man. I am a young, vibrant man,” Trump said. “I look at Joe, I don’t know about him.”

The president’s comments seemingly were a shot at the age of Biden, who is 76.

BIDEN ENTERS WHITE HOUSE RACE WITHOUT OBAMA’S ENDORSEMENT

“I would never say anyone’s too old,” Trump said. “I know they’re all making me look very young both in terms of age and in terms of energy.”

Biden became the 20th candidate to join the crowded Democratic primary field Thursday. But Biden is not the oldest in the pack. Sen. Bernie Sanders, I-Vt., is 77 and Sen. Elizabeth Warren, D-Mass., is 69.

Should Trump be re-elected, he would be 74 on Jan. 20, 2021—Inauguration Day. Should the presidency go to one of the elder Democrats in the field—Biden would be 78; Sanders would be 79; and Warren would be 71.

Meanwhile, in a wide-ranging interview on “Hannity” Thursday night, Trump dismissed Biden’s candidacy, nicknaming him “Sleepy Joe,” and saying he’s “not the brightest bulb.” Trump also said that while the former vice president has name recognition, he won’t “be able to do the job.”

Source: Fox News Politics

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Venezuela's Foreign Affairs Minister Jorge Arreaza talks to the media during a news conference in Caracas
Venezuela’s Foreign Affairs Minister Jorge Arreaza talks to the media during a news conference in Caracas, Venezuela April 8, 2019. REUTERS/Manaure Quintero

April 26, 2019

WASHINGTON (Reuters) – The U.S. Treasury Department on Friday imposed sanctions on Venezuela’s foreign minister and a Venezuelan judge, according to a statement on the department’s website.

Foreign Minister Jorge Arreaza and a judge, Carol Padilla, were targeted over the ongoing crisis in Venezuela, the Treasury Department said, the latest in a list of officials blacklisted by U.S. authorities for their role in President Nicolas Maduro’s government.

(Reporting by Susan Heavey, Makini Brice and Lesley Wroughton; Editing by Chizu Nomiyama)

Source: OANN

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Avengers fans gather at the TCL Chinese Theatre in Hollywood to attend the opening screening of
Avengers fans gather at the TCL Chinese Theatre in Hollywood to attend the opening screening of “Avengers: Endgame” in Los Angeles, California, U.S., April 25, 2019. REUTERS/Mike Blake

April 26, 2019

LOS ANGELES (Reuters) – Marvel Studios superhero spectacle “Avengers: Endgame” hauled in a record $60 million at U.S. and Canadian box offices during its Thursday night debut, distributor Walt Disney Co said.

Global ticket sales for the film about Iron Man, Hulk and other popular characters reached $305 million for the first two days, Disney said.

(Reporting by Lisa Richwine; Editing by Chizu Nomiyama)

Source: OANN

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