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Continental, Valeo seek EU antitrust action against Nokia

FILE PHOTO: A Nokia logo is seen at the company's headquarters in Espoo
FILE PHOTO: A Nokia logo is seen at the company's headquarters in Espoo, Finland, May 5, 2017. REUTERS/Ints Kalnins/File Photo

April 17, 2019

By Foo Yun Chee

BRUSSELS (Reuters) – German car parts maker Continental and French rival Valeo have joined Daimler and Bury Technologies to seek an EU antitrust investigation into Nokia’s patent licensing practices for cars, the Finnish tech company said on Wednesday.

Last month, German carmaker Daimler and Bury complained to the European Commission about Nokia’s patents essential to car communications. The complaint highlights ongoing disputes between tech companies and the car industry on royalties paid on technologies used in navigation systems, vehicle-to-vehicle communication and self-driving cars.

Nokia was notified of the Bury, Continental and Valeo complaints at the same time that the Commission told the company of Daimler’s complaint, a Nokia spokesman said.

The EU competition enforcer confirmed Continental’s complaint and said it was assessing this as well as those from Daimler and Bury.

“The reason for this complaint is that we believe Nokia is not exercising fair practices regarding the licensing of their alleged standard essential patents,” Continental said in a statement.

Companies with key patents are expected to offer these on fair, reasonable and non-discriminatory terms.

Valeo confirmed filing an EU complaint on the basis of abuse of a dominant position by Nokia.

Nokia, which has a highly lucrative portfolio of patents inherited from the time when it was a leading mobile phone maker, said it had started talks with carmakers and their primary suppliers in 2015 on the use of its patents.

(Reporting by Foo Yun Chee, additional reporting by Jan Schwartz in Hamburg and Gilles Guillaume in Paris. Editing by Jane Merriman)

Source: OANN

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Share price drop could change Thyssenkrupp’s breakup plans: Deka

FILE PHOTO: A logo of Thyssenkrupp AG is pictured at the company's headquarters in Essen
FILE PHOTO: A logo of Thyssenkrupp AG is pictured at the company's headquarters in Essen, Germany, November 21, 2018. REUTERS/Thilo Schmuelgen/File Photo

April 4, 2019

By Tom Käckenhoff and Christoph Steitz

DUESSELDORF, Germany (Reuters) – The collapse in Thyssenkrupp’s share price could necessitate changes to a planned breakup of the German conglomerate and even delay the move, a top-20 investor said.

The group said last year it would spin off its capital goods units – elevators, car parts and plant engineering – effectively breaking itself in two under shareholder pressure to scrap a conglomerate structure.

The spun-off units will form an independently listed company, Thyssenkrupp Industrials, while the remaining businesses, most notably shipbuilding and materials trading, will stay with the parent, to be renamed Thyssenkrupp Materials.

Shares have fallen 41 percent since the announcement on growing scepticism over whether the move can fix the group’s operational issues, hurting the valuation of Thyssenkrupp’s assets, Ingo Speich of Deka Investment said.

“Profitable areas such as elevators have gained weight as a result. That could lead to a change in composition of the two companies to avoid an imbalance,” Speich, Deka’s head of sustainability and corporate governance, said in a telephone interview.

Deka is Thyssenkrupp’s 11th-largest investor.

Under the breakup deal, which is expected to be approved by shareholders in January 2020, Thyssenkrupp Materials will hold a minority stake in Industrials, a shareholding it is planning to sell to bring in fresh funds.

Sources have pointed out that a falling share price will create pressure on Materials to hold a higher stake in Industrials to make up for the value decrease. The legal separation of Thyssenkrupp is scheduled for Oct. 1.

“The timetable for the split is very ambitious and could be changed,” Speich said, adding this would not be a problem if the company focused more on improving its operating performance. Thyssenkrupp’s operating margin stood at 2.5 percent last year.

Given the current downturn in the car sector, Thyssenkrupp’s biggest client group, there have been concerns that the group could come under pressure reaching its 2019 profit outlook.

Several automotive suppliers have warned of falling profits in recent weeks. Analysts at Bankhaus Lampe expect Thyssenkrupp to deliver adjusted operating profit of 928 million euros ($1.04 billion), below the group’s target of more than 1 billion.

Speich said there was currently no alternative to Thyssenkrupp Chief Executive Guido Kerkhoff, who took over last year after a months of turmoil that included the resignation of both its CEO and chairman.

“He is pulling the strings and is therefore irreplaceable.”

(Editing by David Evans)

Source: OANN

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Gowdy: CIA May Stop Giving Adam Schiff Information Over His Habitual Leaking

Former Republican South Carolina Rep. Trey Gowdy predicted Sunday that the U.S. intelligence community might stop providing information to House Intelligence Committee Chairman Adam Schiff because he leaks “like a screen door on a submarine.”

Gowdy was asked to weigh in on Republicans’ decision Thursday to call on Schiff to step down as chairman of the House panel.

“Never seen that before,” said Gowdy, who served on the intelligence panel before leaving Congress in January. “We never voted to remove or ask a chairperson to step down.”

“Adam is a deeply partisan person. He did everything he could to make sure Hillary Clinton became president. And he’s done everything he could to keep a cloud over the Trump presidency,” Gowdy said of Schiff.

Gowdy suggested House Speaker Nancy Pelosi could potentially remove Schiff as chairman of the committee. He also said the CIA and other intelligence community agencies could withhold intelligence from Schiff.

“The next thing that’s going to happen is the … different intelligence entities are going to say, ‘You know what, Chairman Schiff, if you don’t believe the information we provide to you … if you have the president of the United States, not just indicted but in jail and you continue to leak like a screen door on a submarine, we’re going to quit giving you information,’” said Gowdy.

“That’s when Pelosi will replace Adam Schiff with someone like [Connecticut Rep.] Jim Himes, who is someone who is a smarter and a lot more reasonable.”

Schiff was a leading voice among Democrats accusing President Donald Trump and his associates of colluding with Russians to influence the 2016 election. In May 2017, he said he had seen “more than circumstantial evidence” of collusion.

Special counsel Robert Mueller appears to have seen different evidence. In a report delivered to the Justice Department on March 22, Mueller said prosecutors “did not establish that members of the Trump campaign conspired or coordinated with the Russian government in its election interference activities.”

Schiff has long been accused of leaking information to the media regarding the Russia probe.

Donald Trump Jr. has accused the Democrat of leaking an inaccurate story about him in December 2017. During Trump Jr.’s private testimony before the House Intelligence Committee, CNN broke a story that Trump Jr. had received an email Sept. 4, 2016, that included a link to WikiLeaks materials.

The story was a bombshell at the time because it suggested Trump Jr. received WikiLeaks documents before they were released to the public. But CNN’s sources turned out to be wrong. The email was actually dated Sept. 14, 2016, a day after the information was published.


Now that the Mueller report has been completed, those that pushed the false narrative of Russian collusion have been exposed. Alex breaks down the massive lies used for more than 2 years to divide America.

Source: InfoWars

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Three suitors circle Italy’s Cavalli as it seeks creditor protection

FILE PHOTO: A company logo is pictured outside a Roberto Cavalli store in Vienna
FILE PHOTO: A company logo is pictured outside a Roberto Cavalli store in Vienna, Austria, May 4, 2016. REUTERS/Leonhard Foeger

April 4, 2019

By Claudia Cristoferi

MILAN (Reuters) – Three investors including Italian fashion entrepreneur Renzo Rosso are eyeing a possible bid for luxury label Roberto Cavalli, according to a document filed by the company with a court in Milan as it seeks breathing space from creditors.

The fashion company on Monday filed a request with a bankruptcy court for 120 days of protection from creditors to reach an agreement on its debt and find a new investor, after it struggled to reboot sales and faced a cash crunch.

Cavalli, a red carpet favorite famed for its animal prints, has been 90 percent owned by private equity firm Clessidra since 2015, and the group attempted to overhaul the label including with a new manager and designer.

But it has posted a string of losses since 2014, with the exception of 2015, when it was back in profit after the sale of a property in Paris.

Clessidra hired Rothschild in September to find a new investor to provide the group “with the needed resources to overcome the difficult situation and to relaunch the business”, and it also subscribed to a 15 million euro ($17 million) capital increase in 2018, the document seen by Reuters showed.

But the private equity investor rejected a request by Cavalli’s board in March this year to pump another 47 million euros into the company, the court filing said.

According to a source close to the situation, the fund through which Clessidra owns Cavalli has reached its statutory limit of investment.

Out of 80 potential investors contacted by Rothschild, three expressed interest in buying the company as a whole, the document revealed.

Bluestar, a U.S. holding company which owns fashion brand Bebe, revised its initial offer but expressed “its willingness to evaluate an acquisition of the business within the framework of a debt restructuring agreement”.

Diesel-owner OTB, the group run by Renzo Rosso which had initially denied an interest, also offered to invest in Cavalli together with current shareholders and said it was “available to proceed with a deal as part of creditor procedure”.

German fashion designer Philipp Plein, who has his own brand, could be interested in pursuing takeover negotiations but only after an accord with creditors is reached, the document showed.

Cavalli is liquidating its U.S. unit and closed its stores there this week.

(Reporting by Claudia Cristoferi, Editing by Sarah White and Alexandra Hudson)

Source: OANN

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Venezuela’s Guaido to seek to annul $8.7 billion Conoco award

FILE PHOTO: Logos of ConocoPhillips are seen in its booth at Gastech, the world's biggest expo for the gas industry, in Chiba
FILE PHOTO: Logos of ConocoPhillips are seen in its booth at Gastech, the world's biggest expo for the gas industry, in Chiba, Japan, April 4, 2017. REUTERS/Toru Hanai/File Photo

April 16, 2019

By Luc Cohen and Mayela Armas

CARACAS (Reuters) – Venezuelan opposition leader Juan Guaido will seek to annul an $8.7 billion arbitration award to U.S. oil producer ConocoPhillips as he moves to preserve foreign assets, Guaido’s chief legal representative said on Tuesday.

If accepted, the annulment request would halt enforcement of the award over the 2007 loss of Conoco’s projects in the South American country. It would follow a March decision by the World Bank’s International Center for Settlement of Investment Disputes (ICSID) to impose the largest arbitration award against Venezuela.

Jose Ignacio Hernandez, who Guaido has tapped as a special prosecutor, told Reuters his team separately has challenged the amount of the ICSID award, claiming “the methodology to determine the compensation was errant.”

Conoco would see no merit in a request for “annulment or rectification” and would “strongly defend” against such requests, company spokesman Daren Beaudo said.

George Kahale, a U.S. attorney who represented the Venezuelan government before the World Bank tribunal, did not immediately respond to a request for comment. Venezuela’s information ministry also had no immediate response to a request for comment.

An annulment would be a boost to Guaido, who in January invoked a constitutional provision to assume an interim presidency. Backed by the United States and dozens of other countries, Guaido argues President Nicolas Maduro’s 2018 re-election was illegitimate. Hernandez has been assigned to protect Venezuela’s assets abroad from possible seizure by creditors.

Cash-strapped Venezuela has balked at paying in other arbitration cases. Conoco has used legal seizures of Venezuelan oil assets to enforce earlier claims. Other creditors are attempting to seize shares in U.S. refiner Citgo Petroleum, Venezuela’s prize overseas asset, to collect on debts.

It was unclear if Guaido’s representatives have standing to challenge the award since the World Bank has not recognized Guaido. The World Bank did not immediately respond to a request for comment.

David Malpass, the newly named president of the World Bank, said last week that recognition would be up to its shareholders.

Hernandez said Guaido’s legal representation “cannot be questioned.”

Last month, a U.S. judge ruled that Guaido’s representatives could present arguments in a court battle with Canadian mining company Crystallex, which is pursuing Citgo to collect on an arbitration award in compensation for Venezuela’s expropriation of a gold mining project.

Venezuela’s nationalization wave, led by late President Hugo Chavez as part of his Socialist project, led to more than 20 international arbitration claims, which remain mostly unpaid.

(Additional reporting by David Lawder in Washington; editing by Gary McWilliams and Tom Brown)

Source: OANN

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Pope anniversary marked by Pell sentencing, scandal fallout

Pope Francis is marking his sixth anniversary as pontiff with prayer, attending a weeklong spiritual retreat while elsewhere in the world one of his cardinals is sentenced for sex abuse and a new poll finds American Catholics are increasingly questioning their faith because of the scandal.

In his time as pope, Francis has made it a tradition to bring Vatican leaders with him on retreat at the start of Lent, the period of fasting and prayer leading to Easter.

While the retreat was underway Wednesday outside Rome, Cardinal George Pell was sentenced in Australia to six years in prison for sexually abusing two youths in the 1990s. He plans to appeal.

And in the U.S., a Gallup poll found 37 percent of U.S. Catholics question remaining in the church.

Source: Fox News World

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Nielsen says she still supports Trump’s border goals

Kirstjen Nielsen said Monday she still shares President Donald Trump's goal of securing the border, a day after she resigned as Homeland Security secretary amid Trump's frustration and bitterness over a spike in Central American migration.

Trump announced on Sunday in a tweet that U.S. Customs and Border Protection Commissioner Kevin McAleenan would be taking over as acting head of the department. The decision to name a top immigration officer to the post reflects Trump's priority for the sprawling department founded to combat terrorism following the Sept. 11 attacks.

Nielsen had traveled to the U.S.-Mexico border on Friday with Trump to participate in a roundtable with border officers and local law enforcement. There she echoed Trump's comments on the situation at the border, though she ducked out of the room while Trump spoke. As they toured a section of newly rebuilt barriers, Nielsen was at Trump's side, introducing him to local officials. She returned to Washington afterward as Trump continued on a fundraising trip to California and Nevada.

But on Sunday, she wrote in her resignation letter that "it is the right time for me to step aside." She wrote that she hoped "the next secretary will have the support of Congress and the courts in fixing the laws which have impeded our ability to fully secure America's borders and which have contributed to discord in our nation's discourse."

Nielsen told reporters outside her Alexandria, Virginia home Monday that she continues to support the president's goal of securing the border.

"I will continue to support all efforts to address the humanitarian and security crisis on the border," she said in her first public remarks since the surprise resignation, thanking the president "for the tremendous opportunity to serve this country."

Nielsen had grown increasingly frustrated by what she saw as a lack of support from other departments and increased meddling by Trump aides on difficult immigration issues, according to three people familiar with details of her resignation. They spoke on condition of anonymity because they were not authorized to discuss the matter.

She went into the White House on Sunday to meet with Trump not knowing whether she'd be fired or would resign. She ended up resigning, though she was not forced to do so, they said.

Though Trump aides were eyeing a staff shake-up at the Department of Homeland Security and had already withdrawn the nomination of another key immigration official, the development Sunday was unexpected.

Still, it was unclear how McAleenan would immediately assume the role. The agency's undersecretary of management, Claire Grady, is technically next in line for the job, and she will need to resign — or more likely be fired — in order for McAleenan to assume the post.

"The president works very well with Kevin McAleenan. He's done an incredible job in the administration and we expect that relationship and the work to continue," White House spokesman Hogan Gidley told reporters Monday.

He cited McAleenan's "extensive" knowledge of immigration issues and said the change in leadership would hopefully lead to "massive changes" at the border.

Nielsen is the latest person felled in the Trump administration's unprecedented churn of top staff and Cabinet officials, brought about by the president's mercurial management style, insistence on blind loyalty and rash policy announcements.

She was also the highest profile female Cabinet member, and her exit leaves DHS along with the Pentagon and even the White House staff without permanent heads. Patrick Shanahan has held the post of acting defense secretary since the former secretary, Jim Mattis, was pushed out in December over criticism of the president's Syria withdrawal plans. Acting White House chief of staff Mick Mulvaney has held his post since January, following John Kelly's resignation last year.

McAleenan has helped shape many of the administration's policies to date and is considered highly competent by congressional leaders, the White House and Homeland Security officials. But it's unclear if he can have much more of an effect on the issues at the border. The Trump administration has bumped up against legal restrictions and court rulings that have hamstrung many of its major efforts to remake border security.

Rep. Joaquin Castro, chairman of the Congressional Hispanic Caucus, was critical of Nielsen, saying she spent her tenure "championing President Trump's cruel anti-immigrant agenda," and he called McAleenan's appointment "deeply disturbing."

"He cannot be trusted as Acting DHS Secretary based on his record of prioritizing Trump's harmful policies that undermine national security and the economy, and hurt vulnerable families and children at the border," Castro, a Texas Democrat, said in a statement.

Tensions between the White House and Nielsen have persisted almost from the moment she became secretary, after her predecessor, Kelly, became the White House chief of staff in 2017. Nielsen was viewed as resistant to some of the harshest immigration measures supported by the president and his aides, particularly senior adviser Stephen Miller, both on matters around the border and others like protected status for some refugees.

Once Kelly left the White House, Nielsen's days appeared to be numbered, and she had expected to be pushed out last November.

During the government shutdown over Trump's insistence for funding for a border wall, Nielsen's standing inside the White House appeared to rise. But in recent weeks, as a new wave of migration has taxed resources along the border and as Trump sought to regain control of the issue for his 2020 re-election campaign, tensions flared anew.

The final straw came when Trump gave Nielsen no heads-up or opportunity to discuss his decision to pull the nomination of acting Immigration and Customs Enforcement Director Ron Vitiello — a move seen as part of a larger effort by Miller, an immigration hardliner, and his allies at the White House to clean house at the department and bring in more people who share their views, the people said.

Nielsen had wanted to discuss the move with Trump during their visit to the border Friday, but when there was no time, she asked for the meeting Sunday. She walked into it prepared to resign, depending on what she heard. The people described mounting frustrations on both sides, with Trump exasperated at the situation at the border and Nielsen frustrated by White House actions she felt were counterproductive.

Arrests along the southern border have skyrocketed recently. Border agents are on track to make 100,000 arrests and denials of entry at the southern border in March, more than half of which are families with children. A press conference to announce the most recent border numbers — scheduled to be held by McAleenan on Monday — was postponed.

Nielsen dutifully pushed Trump's immigration policies, including funding for his border wall, and defended the administration's practice of separating children from parents. She told a Senate committee that removing children from parents facing criminal charges happens "in the United States every day." But she was also instrumental in ending the policy.

Under Nielsen, migrants seeking asylum are waiting in Mexico as their cases progress. She also moved to abandon longstanding regulations that dictate how long children are allowed to be held in immigration detention and requested bed space from the U.S. military for 12,000 people in an effort to detain all families who cross the border. Right now there is space for about 3,000 families, and facilities are at capacity.

Nielsen also advocated for strong cybersecurity defense and often said she believed the next major terror attack would occur online — not by planes or bombs. She was tasked with helping states secure elections following Russian interference during the 2018 election.

She led the federal agency since December 2017 and was this administration's third Homeland Security secretary. A protege of Kelly's, he brought her to the White House after Trump named him chief of staff.

___

Associated Press writers Jill Colvin and Lisa Mascaro contributed to this report.

___

This story corrects the month in which border agents are on track to make 100,000 arrests and denials of entry to March, not this month.

Source: Fox News National

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FILE PHOTO: The logo of the OPEC is seen at OPEC's headquarters in Vienna
FILE PHOTO: The logo of the Organisation of the Petroleum Exporting Countries at OPEC’s headquarters in Vienna, Austria December 5, 2018. REUTERS/Leonhard Foeger/File Photo

April 26, 2019

JOINT BASE ANDREWS, Md. (Reuters) – U.S. President Donald Trump said on Friday he called the Organization of the Petroleum Exporting Countries and told the cartel to lower oil prices.

“Gasoline prices are coming down. I called up OPEC, I said you’ve got to bring them down. You’ve got to bring them down,” Trump told reporters.

(Reporting by Roberta Rampton; Writing by Makini Brice; Editing by Chizu Nomiyama)

Source: OANN

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Sonia Bompastor, director of the Olympique Lyonnais womenÕs Youth Academy, leads a training at the OL Academy near Lyon
Sonia Bompastor, director of the Olympique Lyonnais womenÕs Youth Academy, leads a training at the OL Academy in Meyzieu near Lyon, France, April 16, 2019. REUTERS/Emmanuel Foudrot

April 26, 2019

By Julien Pretot

MEYZIEU, France (Reuters) – Olympique Lyonnais president Jean-Michel Aulas was wringing out his women’s team shirts in the locker room on a rainy London day eight years ago when he decided it was time to take gender equality more seriously.

It was halftime in their Champions League semi-final second leg against Arsenal at Meadow Park with 507 fans watching and Aulas realized that his players did not have a another kit for the second half.

“Next time, there will be a second set just like for the men, that’s how it’s going to work from now on,” he said.

Lyon have since won five Champions League titles to become the most successful women’s team in Europe and recently claimed a 13th consecutive domestic crown.

They visit Chelsea on Sunday in the second leg of their Champions League semi-final, with a fourth straight title in their sights.

At the heart of their achievements is a pervasive ethos that promotes gender equality throughout the club, starting in the youth academy.

In 2013, Aulas appointed former Lyon and France player Sonia Bompastor as head of the Women’s Academy — the female equivalent of one of France’s top youth set-ups that has produced players such as Karim Benzema, Alexandre Lacazette and Hatem Ben Arfa.

At the Youth Academy, girls and boys share the same facilities.

“Pitches, physiotherapy rooms are the same for all,” the 38-year-old Bompastor told Reuters.

As the girls train under the watch of former Lyon and France international Camille Abily, the screams of the boys practicing can be heard nearby.

The boys and girls also benefit from the same psychological support that includes hypnosis sessions and yoga.

“We have a ‘mental ability’ cell and the hypnotist acts on the girls’ subconscious, on their deeply held beliefs after observing them on and off the pitch,” Bompastor added.

SAME TREATMENT

One message the Academy staff are trying to convey is that girls are as good as boys.

“Women’s nature is such that we have low self-esteem. So self-esteem is a big topic for our girls,” said Bompastor.

This is not the case with the boys, she added.

“Some 14, 15-year-old boys still think they would beat our professional players, we tell them this would not be happening. We still need to work on those beliefs,” she said.

Female players also have to face questions that their male counterparts do not, Bompastor explained.

“In France there is a problem with the way women are considered, there are high aesthetic expectations. So we get heavy questions on femininity, intimate questions that men don’t get,” she said.

OL’s Academy has been held up as a shining example for others to follow, even in the U.S., where women’s soccer has a wider audience than in Europe.

“About one third of the (senior women’s) squad comes from the Academy, we have a good balance,” said Bompastor.

“I’m getting tons of requests from American universities and foreign clubs, who want to come and visit our facilities.”

‘ONE CLUB’

The salaries of the senior players is one area where there remains a large discrepancy between Lyon’s men’s and women’s teams.

While the three best-paid women players in the world are at Lyon with Ballon d’Or winner Ada Hegerberg earning 400,000 euros ($445,520) a year, this figure is dwarfed by the around 4 million euros earned annually by men’s player Memphis Depay.

There is, however, a level of interaction between the men’s and women’s players that is not present at many other clubs.

“When you talk about OL you talk about women and men, you talk about one club and you feel it when you are here or outside in the city,” Germany defender Carolin Simon told Reuters.

“We see it when we play in the big stadium. It’s not ‘normal’ for women’s football,” the 26-year-old, who joined the club last year, added.

Lyon’s female players also enjoy respect from their male counterparts, Simon said.

“It’s very cool, it’s a big honor to feel that it doesn’t matter if you are a professional man or woman. We talk with the men, there are handshakes, it’s a good atmosphere and it’s also why we are successful,” said Simon.

“The men respect us and it’s not just for the cameras.”

Her team mate, England’s Lucy Bronze, sees the men’s respect as key to improving women’s football.

“We might not be paid the same but they are just normal with us, they see us as footballers the same as they are,” Bronze told Reuters.

“Being at Lyon has really opened my eyes. To improve women’s football, it starts with having the respect of your male counterparts. It’s the biggest thing because they can influence so many people.”

(Reporting by Julien Pretot; Editing by Toby Davis)

Source: OANN

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FILE PHOTO: Ethiopian migrants, stranded in war-torn Yemen, sit on the ground of a detention site pending repatriation to their home country, in Aden, Yemen
FILE PHOTO: Ethiopian migrants, stranded in war-torn Yemen, sit on the ground of a detention site pending repatriation to their home country, in Aden, Yemen April 24, 2019. REUTERS/Fawaz Salman/File Photo

April 26, 2019

GENEVA (Reuters) – Yemeni authorities have rounded up about 3,000 irregular migrants, predominantly Ethiopians, in the south of the country, “creating an acute humanitarian situation,” the U.N. migration agency said on Friday.

“IOM is deeply concerned about the conditions in which the migrants are being held and is engaging with the authorities to ensure access to the detained migrants,” the International Organization for Migration said.

The migrants are held in open-air football stadiums and in a military camp, it said in a statement.

The detentions began on Sunday in the city of Aden and the neighboring province of Lahj, which are under the control of the internationally recognized government backed by Saudi Arabia and the United Arab Emirates. Iran-aligned Houthi rebels control Sanaa, the capital, and other major urban centers.

Both sides are under international diplomatic pressure to implement a United Nations-sponsored ceasefire deal agreed last year in Sweden and to prepare for a wider political dialogue that would end the four-year-old war.

Thousands of migrants arrive in Yemen every year, mostly from the Horn of Africa, driven by drought and unemployment at home and lured by the wages available in the Gulf.

(Writing by Maher Chmaytelli, Editing by William Maclean)

Source: OANN

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U.S. dollar notes are seen in this picture illustration
U.S. dollar notes are seen in this November 7, 2016 picture illustration. Picture taken November 7. REUTERS/Dado Ruvic/Illustration

April 26, 2019

(Reuters) – Following are five big themes likely to dominate thinking of investors and traders in the coming week and the Reuters stories related to them.

1/DOLLAR JUGGERNAUT

The dollar has zipped to near two-year highs, leaving many scratching their heads. To many, it’s down to signs the U.S. economy is chugging ahead while the rest of the world loses steam. After all, Wall Street is busily scaling new peaks day after day.

Never mind the cause, the effect is stark. The euro has tumbled to 22-month lows against the dollar and investors are preparing for more, buying options to shield against further downside. Emerging-market currencies are also in pain, with Turkish lira and Argentine peso both sharply weaker.

Now U.S. data need to keep surprising on the upside or even just meet expectations. The International Monetary Fund sees U.S. growth at 2.3 percent this year. For Germany, the forecast is 0.8 percent. The U.S. economy’s rude health has given rise to speculation the Fed might resume raising interest rates. Unlikely. But as other countries — Canada, Sweden and Australia are the latest — hint at more policy easing, there seems to be one way the dollar can go. Up.

(GRAPHIC: Dollar outperforms G10 FX – https://tmsnrt.rs/2Dz17S5)

2/FED: UP OR DOWN?

Wall Street is near record highs and recession worries are receding, so as we mentioned above, investors might wonder if the Federal Reserve will start raising rates again.

Such a pivot is unlikely after the Fed killed off rate-rise expectations at its March meeting. And the latest Reuters poll all but puts to bed any risk of rates will go up this economic cycle, given inflation remains below the Fed’s alarm threshold and unemployment is the lowest in generations.

Before the March rate-pause announcement, a preponderance of economists penciled in one or more increases this year. But that has flipped. A majority of those surveyed April 22-24 see no further tightening through December and more are leaning toward a cut by the end of next year.

Indeed, interest rate futures imply Fed Funds will be below the current 2.25-2.50 percent target range by this December.

Recent positive consumer spending and exports data have eased market concerns of a sharp economic slowdown. But inflation probably needs to run hot for a long period to panic policymakers off their wait-and-see course.     

(GRAPHIC: Federal funds and the economy – https://tmsnrt.rs/2DzjTZz)

3/HEISEI TO REIWA

Next week ends three decades of Japan’s Heisei era. Heisei, or Achieving Peace, began in 1989 near the peak of a massive stock market bubble and closes with the country trapped in low growth, no inflation, and negative interest rates.

The new era that dawns on May 1 is called Reiwa, meaning Beautiful Harmony. It begins when Crown Prince Naruhito ascends the Chrysanthemum Throne. But do investors really want harmony? What they want to see is a bit of economic growth and inflation to shake up the status quo.

The Bank of Japan’s stimulus toolkit to revive a long-suffering economy is anything but harmonious and yet it’s set to stay. The central bank confirmed recently rates will stay near zero for a long time. But the coming days may not be harmonious or peaceful for currency markets. A 10-day Golden Week holiday kicks off on April 29 and investors are fretting over the risk of a “flash crash” – a violent currency spasm that can occur in times of thin trading turnover.

The year has already seen two yen spikes and many, including Japan’s housewife-trader brigade – so-called Mrs Watanabes – appear to have bought yen as the holiday approaches. Their short dollar/long yen positions recently reached record highs, stock exchange data showed.

(GRAPHIC: Japan stocks: from Hensei to Reiwa – https://tmsnrt.rs/2W6a7Fe)

4/EARNING TURNING

Quarterly earnings were supposed to be the worst in Europe in almost three years, but with a third of results in, things are looking a little rosier.

Two-thirds of companies’ results have beat expectations, and they point to earnings growth of 4.5 percent year-on-year. Financials have delivered the biggest surprises, according to analysis by Barclays.

That might just show how low expectations were. In fact, analysts are still taking a red pen to their estimates.

The latest I/B/E/S data from Refinitiv shows analysts on average expect first-quarter earnings-per-share for STOXX 600-listed companies to fall 4.2 percent. That would be their worst quarter since 2016 and down sharply from an estimated 3.4 percent just a week earlier.

Those estimates may end up being a little too bearish as earnings season goes on, quelling worries that Europe is heading toward a corporate recession.

GSK and Reckitt Benckiser will give the market a glimpse of the health of the consumer products market and spending on everything from toothpaste, washing powder and paracetamol.

(GRAPHIC: Earnings forecasts – https://tmsnrt.rs/2DuO2ZF)

5/WAITING FOR THE OLD LADY

Sterling has gone into the doldrums amid the Brexit delay and unproductive talks between the UK government and the opposition Labour party on a EU withdrawal deal. The resurgent dollar, meanwhile, has taken 2 percent off the pound in April. It is unlikely the Bank of England will be able to rouse it at its May 2 meeting.

Despite robust retail and jobs data of late, the economic picture is gloomy – 2019 growth is likely to be around 1.2 percent, the weakest since 2009, investment is down and Governor Mark Carney says business uncertainty is “through the roof”.

Indeed, expectations for an interest rate increase have been whittled down; Reuters polls forecast rates will not move until early 2020, a calendar quarter later than was forecast a month ago. The hunt for a new governor to replace Carney in October adds more uncertainty to the mix.

The recent run of UK data has fueled hopes of economic rebound. That’s put net hedge fund positions in the pound into positive territory for the first time in nearly a year. The Old Lady of Threadneedle Street might temper some of that optimism.

(GRAPHIC: Sterling positions – https://tmsnrt.rs/2XJwUXX)

(Reporting by Alden Bentley in New York, Vidya Ranganathan in Singapore; Karin Strohecker, Josephine Mason and Saikat Chatterjee in London; compiled by Sujata Rao; edited by Larry King)

Source: OANN

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Democratic presidential candidate Elizabeth Warren suggested that doctors and nurses don’t treat African American women the same way they do white women.

Warren appeared on Wednesday together with a number of other 2020 Democratic candidates at the She The People Forum in Houston, discussing issues concerning women of color.

WARREN’S $1.25T EDUCATION PLAN ‘SWEEPING’ GIVEAWAY TO THE WEALTHY AT EXPENSE OF THE POOR, WAPO EDITORIAL BOARD SAYS

The Massachusetts senator announced on stage a plan to decrease the childbirth mortality rate among black women while identifying a systematic problem with how they are treated.

“And there is a specific problem, as you rightly identified, for women of color who are three, four times more likely to die in childbirth,” Warren said.

“And here’s the thing, even after we do the adjustments for income, for education, this is true across the board. This is true for well-educated African American women, for wealthy African American women, and the best studies that I’m seeing put it down to just one thing, prejudice,” she added.

“That doctors and nurses don’t hear African American women’s medical issues the same way that they hear the same things from white women.”

“That doctors and nurses don’t hear African American women’s medical issues the same way that they hear the same things from white women.”

— Elizabeth Warren

CHARLIE KIRK: WARREN AND OTHER DEMS OFFER FREE MONEY – BUT DON’T TELL YOU PRICE WILL BE YOUR FREEDOM

Warren went on to get into details of her plan, noting that hospitals will be given bonuses if they manage to reduce the childbirth mortality rate among black women in an effort to give financial incentives for those doctors and nurses to provide better care.

“And if they don’t, then they’re going to have money taken away from them,” Warren added.

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“I want to see the hospitals see it as their responsibility to address this problem head-on and make it a first priority. The best way to do that is to use the money to make it happen because we gotta have change, and we gotta have change now.”

Source: Fox News Politics

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