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Swedbank report spotted anti-money-laundering breaches: Swedish TV

Construction workers push cart past Swedbank local headquarters building in Tallinn
Construction workers push cart past Swedbank local headquarters building in Tallinn, Estonia March 25, 2019. REUTERS/Ints Kalnins

March 26, 2019

STOCKHOLM (Reuters) – An internal Swedbank report identified major breaches of anti-money laundering obligations involving its business in Estonia, Swedish public broadcaster SVT said on Tuesday after having seen a copy of the document.

Swedbank, which is the subject of a joint investigation by Swedish and Baltic regulators, said the draft report cited by SVT had been included in a wider external investigation which it announced last week and had been made available to authorities.

The Swedish bank conducted a review of its Estonian branch after a scandal at Danske Bank’s Estonian branch which was used to funnel some 200 billion euros ($227 billion) of suspicious payments between 2007 and 2015.

“Major breaches of AML (anti-money laundering) obligations identified in Swedbank Estonia,” SVT quoted the English summary of the report, written by the former deputy chief of Norway’s economic crimes authority, Erling Grimstad, as saying.

SVT said the report identified a number of failings including accepting customers posing a high risk of money laundering “despite the lack of information regarding beneficial owners, corporate structure, source of funds and the real nature and purpose of the business relationship”.

”A significant number of the HRNR (high-risk, non-resident)customers should never have been onboarded,” the report said.

Swedbank also failed to report suspicious transactions and activities, the report said.

Swedbank said in a statement on Tuesday it was continuing to conduct a deeper analysis of the information and working with external partners and authorities in investigating the money laundering allegations.

Shares in the bank were up 0.7 percent at 1412 GMT.

Swedish Television reported allegations last month that 50 clients transferred at least 40 billion Swedish crowns ($4.3 billion) between Baltics accounts at Swedbank and Danske Bank between 2007 and 2015.

Swedbank said last week it would continue to strengthen its anti money-laundering capabilities, saying it had flagged some 3,800 suspicious transactions to local authorities in the Baltics in 2017 and 2018, while business dealings with 886 non-resident customers had been terminated in the region.

The Swedbank board has also backed its chief executive Birgitte Bonnesen, who was chief audit executive at Swedbank between 2009 and 2011, a job which included overseeing the bank’s anti-money laundering policy.

Bonnesen then moved on to run the lender’s Baltic operations until 2014.

Swedish pension fund manager Alecta, which as a roughly 5 percent stake in Swedbank, said on Tuesday it was not satisfied with the board’s handling of the money-laundering investigation and called on it to increase transparency as soon as possible.

Alecta said the board needed strengthening and that the nomination committee had put forward Karin Hermansson, a former chief executive of the Swedish Securities Dealers Association, as an extra member of the board.

“Trust in the bank is damaged and therefore the nomination committee has now begun work on strengthening the board,” Alecta chief executive Magnus Billing said in a statement.

(Reporting by Simon Johnson, Johan Ahlander, Esha Vaish and Anna Ringstrom; Editing by Alexander Smith and Jane Merriman)

Source: OANN

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Amnesty urges UAE to release activist on hunger strike

FILE PHOTO - Ahmed Mansoor, one of the five political activists pardoned by the United Arab Emirates, speaks to Reuters in Dubai
FILE PHOTO - Ahmed Mansoor, one of the five political activists pardoned by the United Arab Emirates, speaks to Reuters in Dubai November 30, 2011. REUTERS/Nikhil Monteiro

April 10, 2019

DUBAI (Reuters) – Amnesty International called on Wednesday on the United Arab Emirates to release a local activist who has been on hunger strike for more than three weeks, citing concern over his health and prison conditions.

Emirati campaigner Ahmed Mansoor was sentenced to 10 years in 2018 for criticizing the government on social media in a case that has drawn criticism from the United Nations and international rights groups.

“We are greatly concerned that his lengthy hunger strike would result in the deterioration of his health,” Amnesty International said in a statement.

The rights group said Mansoor was being held in solitary confinement. It urged the UAE authorities to ensure his detention conditions comply with international standards and that he be granted regular access to his family and medical care.

The UAE government media office did not immediately respond when asked to comment.

Mansoor, an electrical engineer and poet, was among five activists convicted of insulting the UAE’s rulers in 2011. They were pardoned the same year.

He was arrested again in March 2017 on charges of publishing false information and rumors, promoting a “sectarian and hate-incited” agenda, and using social media to harm “national unity and social harmony” and damage the country’s reputation.

He was one of a tiny number of publicly active rights campaigners in the UAE, a trade and tourism hub that tolerates little public criticism.

In 2015 Mansoor received the Martin Ennals Award for Human Rights Defenders, an annual prize awarded in Geneva by a panel of international human rights organizations, for his work documenting the human rights situation in the U.S.-allied Gulf Arab state.

(Reporting by Sylvia Westall; Editing by Frances Kerry)

Source: OANN

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Michelle Obama, daughters' personal tennis instructor charged in college bribery scheme

A tennis coach who worked with the family of former President Barack Obama was among the 50 people charged Tuesday in a college admissions scheme in which wealthy parents allegedly bribed coaches and others to get their children accepted to some of the top schools in the U.S.

Gordon Ernst, 52, was a former tennis coach at Georgetown University and the University of Rhode Island. He is accused of conspiracy to commit racketeering while he was at Georgetown.

HUFFMAN CUFFED BY FBI AGENTS WITH GUNS DRAWN IN EARLY MORNING RAID: REPORT

Gordon Ernst was formerly the personal tennis instructor of Michelle Obama and her daughters.

Gordon Ernst was formerly the personal tennis instructor of Michelle Obama and her daughters. (Georgetown University)

Ernst was at Georgetown from 2012 to 2017 and was the personal instructor of former first lady Michelle Obama and her daughters, Sasha and Malia, according to the Providence Journal. None of the Obamas are implicated in the scandal in any way.

Ernst allegedly accepted nearly $3 million in bribes and in return helped a dozen students get onto the Georgetown's tennis team, including kids who didn’t actually play the sport in a competitive fashion, according to the New York Post.

The scam was run by William Singer, who helped parents get their children’s college admissions through bribes, according to court documents. Singer, an admissions consulting company founder, pleaded guilty in Boston federal court to charges including racketeering conspiracy and obstruction of justice.

FELICITY HUFFMAN'S BOND SET AT $250G, LORI LOUGHLIN'S HUSBAND AT $1M IN ALLEGED COLLEGE ADMISSIONS SCAM

Most of the students didn't know their admission was due to a bribe, authorities said, but in some cases, the children and their parents took part in the scheme.

US First Lady Michelle Obama plays tennis during "Let's Move-London" event at the Winfield House in London on July 27, 2012, hours before the start of the London 2012 Olympic Games.

US First Lady Michelle Obama plays tennis during "Let's Move-London" event at the Winfield House in London on July 27, 2012, hours before the start of the London 2012 Olympic Games. (Photo credit should read JEWEL SAMAD/AFP/GettyImages)

Ernst was placed on leave by Georgetown in 2017 after the school discovered “irregularities in his recruitment practices” that “violated University rules concerning admissions,” according to a statement from the school. The university denied having any knowledge about the alleged crimes.

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According to the New York Post, Ernst was hired by Rhode Island in 2018 but was placed on administrative leave Tuesday.

Fox News' Katherine Lam and Travis Fedschun contributed to this report.

Source: Fox News National

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The Latest: Vegas police: Wounded robbery suspect has died

The Latest on a Las Vegas casino robbery (all times local):

3:10 p.m.

Las Vegas police say a robbery suspect wounded during in a brief shootout with police outside the Bellagio hotel-casino on the Strip has died. An officer shot in his bulletproof vest escaped serious injury.

Police Capt. Nichole Splinter said the suspect robbed the packed casino Friday night and was confronted by four officers as he tried to carjack a vehicle in the valet lot.

Splinter said the suspect fired at least one shot at an officer before being shot by a second officer.

She said the suspect's bullet hit the chest of the officer, whose vest probably saved his life.

A police spokesman, Officer Aden OcampoGomez, confirmed the suspect's death Saturday.

No identities were released. Police did not disclose how much money the suspect took in the holdup.

___

8:30 a.m.

Police say a brief shootout outside the Bellagio hotel-casino on the Las Vegas Strip left a robbery suspect critically wounded while an officer who was shot in his bulletproof vest escaped serious injury.

Police Capt. Nicole Splinter said the suspect robbed the packed casino Friday night and was confronted by four officers as he tried to carjack a vehicle in the valet lot.

Splinter said the suspect fired at least one shot at an officer before being shot by a second officer.

She said the suspect's bullet hit the chest of the officer whose vest probably saved his life.

No identities were released and police did not disclose how much money the suspect took in the holdup.

Source: Fox News National

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Vanderbilt University chancellor to resign in August

Citing health challenges, Vanderbilt University Chancellor Nicholas Zeppos has announced plans to resign on Aug. 15 after more than a decade in the role.

Zeppos announced Tuesday he plans to take a yearlong sabbatical before he returns to Vanderbilt as a law professor.

Zeppos replaced former chancellor Gordon Gee as the private Nashville university's interim leader in 2007 and was appointed chancellor in 2008.

Zeppos, a legal scholar from Milwaukee, had served as the university's chief academic officer since 2002. He joined the Vanderbilt faculty in 1987 as an assistant law professor.

Provost Susan Wente will begin serving as interim chancellor on Aug. 15. Vanderbilt Board of Trust Chairman Bruce Evans will lead a search for Zeppos' permanent successor.

Source: Fox News National

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EU needs central supervisor to tackle money laundering ‘rats’: Latvia’s PM

Latvian Prime Minister Krisjanis Karins delivers a speech during a debate on the future of Europe, at the European Parliament in Strasbourg
Latvian Prime Minister Krisjanis Karins delivers a speech during a debate on the future of Europe, at the European Parliament in Strasbourg, France, April 17, 2019. REUTERS/Vincent Kessler

April 17, 2019

By Foo Yun Chee

STRASBOURG (Reuters) – Latvian Prime Minister Krisjanis Karins pledged on Wednesday to rid the country’s banking system of money-laundering “rats” in a year, as the Baltic state faces international pressure over its ability to counter financial crime.

In a speech to European Union lawmakers, Karins also said the best way to address the problem across the bloc was to set up a central supervisor to monitor and tackle money laundering, replacing the patchwork of national watchdogs that have sometimes proved ineffective against cross-border crime.

EU lawmakers and the European Central Bank have repeatedly called for the creation of a new supervisor against financial crime, but many EU governments have opposed the move as they prefer leaving powers at a national level.

Karins said he wanted to turn the Latvian banking system into “the cleanest” in Europe, after its reputation was tarnished by the collapse last year of ABLV, the country’s largest bank, amid money-laundering allegations.

Karins said he was confident that in a year’s time he could be in a position to provide tips to other Europeans on how to clean up banking systems.

“But it’s a little bit like fighting rats. I can make sure that I get the rats out of my house and my house will be clean, but what about my neighbors?” he told lawmakers.

Baltic and Nordic countries are grappling with a huge money-laundering scandal, after allegations the Estonian branch of Danske Bank, Denmark’s largest lender, handled 200 billion euros ($226 billion) in suspicious transactions of Russian money between 2007 and 2015.

Sweden’s Swedbank has recently been drawn into the scandal, after it was reported that it handled some of the same payments that went through Danske..

“The criminals may have left Latvia for now but they have unfortunately, I’m convinced, not left Europe,” Karins said, adding the problem concerned all European states.

Latvia faces a review by international money-laundering standards watchdog Moneyval in the coming months, which some officials fear could label the country as risky, alongside the likes of Serbia and Pakistan..

(Reporting by Foo Yun Chee in Strasbourg and Clare Roth in Brussels; Writing by Francesco Guarascio; Editing by Mark Potter)

Source: OANN

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U.S. should not curb aid to Saudi-led coalition in Yemen: Pompeo

U.S. Secretary of State Mike Pompeo speaks to the media at the Department of Foreign Affairs in Pasay City
FILE PHOTO: U.S. Secretary of State Mike Pompeo speaks to the media at the Department of Foreign Affairs in Pasay City, Metro Manila, Philippines, March 1, 2019. REUTERS/Eloisa Lopez

March 15, 2019

WASHINGTON (Reuters) – The Trump administration opposes curbs on U.S. assistance for the Saudi-led coalition in Yemen, United States U.S. Secretary of State Mike Pompeo said on Friday.

“The way to alleviate the Yemeni people’s suffering isn’t to prolong the conflict by handicapping our partners in the fight, but by giving the Saudi-led coalition the support needed to defeat Iranian-backed rebels and ensure just peace,” Pompeo said at a news conference.

(Reporting by Lesley Wroughton, David Brunnstrum and Doina Chiacu; Writing by Susan Heavey; Editing by Chizu Nomiyama)

Source: OANN

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A worker holds a nozzle to pump petrol into a vehicle at a fuel station in Mumbai
FILE PHOTO: A worker holds a nozzle to pump petrol into a vehicle at a fuel station in Mumbai, India, May 21, 2018. REUTERS/Francis Mascarenhas

April 26, 2019

By Manoj Kumar and Nidhi Verma

NEW DELHI (Reuters) – Surging global oil prices will pose a first big challenge to India’s new government, whoever wins an election now under way, especially as domestic prices have been allowed to lag, meaning consumers are in for a painful surge as they catch up.

For oil-import dependent India, higher global prices could lead to a weaker rupee, higher inflation, the ruling out of interest rate cuts and could further weigh on twin current account and budget deficits, economists warned.

But compounding the future pain, state-run fuel suppliers and retailers have held off passing on to consumers the higher prices during a staggered general election, which began on April 11 and ends on May 23, according to sources familiar with the situation.

That delay is expected to be unwound once the election is over. And there could be additional price increases to make up for losses or profits missed during the period of delayed increases, the sources said.

In some major Asian countries, such as Japan and South Korea, pump prices are adjusted periodically so they move largely in tandem with international crude prices.

That was what was supposed to happen in India but the election means there have been many days when pump prices have been unchanged.

In New Delhi, for example, while crude oil prices have gone up by nearly $9 a barrel, or about 12 percent, in the past six weeks, gasoline prices have only risen by 0.47 rupees a liter, or 0.6 percent.

State-controlled fuel suppliers and retailers declined to say why they had delayed price increases, or discuss whether there has been any pressure from the government of Prime Minister Narendra Modi.

A government spokesman declined to comment.

The opposition Congress party said Modi’s government was violating its own policy of daily price revision by advising the state oil companies to hold prices steady.

“The government should cut fuel taxes otherwise consumers will have to pay much higher oil prices once the elections are over,” said Akhilesh Pratap Singh, a senior leader of the Congress party.

(GRAPHIC: India Polls: Fuel price hike lags crude surge – https://tmsnrt.rs/2XLlxik)

Nitin Goyal, treasurer at the All India Petroleum Dealers Association, representing fuel stations in 25 states, said prices were similarly held down for 19 days in the southern state of Karnataka last year, when it held state assembly elections.

Only for them to surge after the vote.

“Consumers should be ready for a rude shock of a massive jump in retail prices, similar to the level we have seen in the Karnataka state election,” Goyal said.

‘CREDIT NEGATIVE’

Sri Paravaikkarasu, director for Asia oil at Singapore-based consultancy FGE, said retail prices of gasoline and gasoil prices would have been up to 6 percent, or about 4 rupee, higher if they had been allowed to rise in line with global prices.

“Indian pump prices have failed to keep up with the recent uptrend in crude prices,” Paravaikkarasu said.

“With the country’s general elections underway, the incumbent government has been keeping pump prices relatively unchanged.”

India had switched to a daily price revision in June 2017 from a revision every two weeks, as the government allowed retailers to set prices.

But the government faced protests last October when retailers raised prices by up to 10 rupees a liter after the crude oil price went above $80 a barrel, forcing it to cut fuel taxes.

Global prices rose to their highest level in 2019 on Thursday, days after the United States announced all Iran sanction waivers would end by May, pressuring importers including India to stop buying Tehran’s oil. [O/R]

Higher oil prices will mean Asia’s third largest economy is likely to see growth of less than 7 percent rate this fiscal year, economists said. Growth slowed to 6.6 percent in the October-December quarter, the slowest in five quarters.

Rating agency CARE has warned that a 10 percent rise in global oil prices could increase demand for dollars, putting pressure on the rupee and widening the current account deficit.

India’s oil import bill rose by nearly one-third in the fiscal year ending March 31 to $140.5 billion, against $108 billion the previous year.

“The increase in international oil prices is a credit negative for the Indian economy,” ICRA, the Indian arm of the Fitch rating agency, said in a note.

“Every $10/ bbl increase in crude oil prices increases the fiscal deficit by about 0.1 percent of GDP.”

Any big price rise would also build a case for the central bank to keep rates steady, or even raise them.

The Reserve Bank of India’s Monetary Policy Committee, which cut the benchmark policy repo rate by 25 basis points this month, warned that rising oil and food prices could push up inflation.

Policymakers are worried that a sustained increase in the oil price in the range of $70-75/barrel or higher can move the rupee down by 3-4 percent on an annual basis.

The rupee has depreciated by 1.24 percent against the dollar since a year high in mid-March.

($1 = 70.1800 Indian rupees)

(Reporting by Manoj Kumar and Nidhi Verma; Editing by Martin Howell and Rob Birsel)

Source: OANN

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FILE PHOTO: Uber's logo is displayed on a mobile phone in London, Britain
FILE PHOTO: Uber’s logo is displayed on a mobile phone in London, Britain, September 14, 2018. REUTERS/Hannah Mckay/File Photo

April 26, 2019

(Reuters) – Ride-hailing company Uber Technologies Inc unveiled terms for its initial public offering on Friday, telling investors it would seek to sell as much as $10.35 billion in stock at a valuation of up to $91.5 billion.

In a regulatory filing, Uber set a target price range of $44-$50 per share for its IPO. The company will sell 180 million shares in the offering, with a further 27 million sold by insiders.

In the filing, Uber also reported a net loss attributable to the company for the first quarter of 2019 of around $1 billion and revenues of roughly $3 billion.

(Reporting by Joshua Franklin; editing by Patrick Graham)

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FILE PHOTO: Jet Airways aircraft are seen parked at the Chhatrapati Shivaji Maharaj International Airport in Mumbai
FILE PHOTO: Jet Airways aircraft are seen parked at the Chhatrapati Shivaji Maharaj International Airport in Mumbai, India, April 18, 2019. REUTERS/Francis Mascarenhas/File Photo

April 26, 2019

By Aditi Shah and Abhirup Roy

NEW DELHI/MUMBAI (Reuters) – The grounding of India’s Jet Airways is turning into a quick windfall and long-term opportunity for international airlines keen to scoop up nearly a million outbound passengers from what was once the nation’s biggest airline.

Jet, which previously had a fleet of around 120 largely Boeing Co planes, was forced to indefinitely halt all flight operations on April 17 after its banks rejected the carrier’s plea for emergency funds.

The carrier’s descent into crisis has benefited international airlines in the form of rising fares and demand, data showed.

Fares from India to cities such as Dubai, London, New York, Singapore and Bali in the first quarter of 2019 rose between 4 percent and 32 percent from a year ago, according to Indian travel portal MakeMyTrip Ltd.

In the peak travel months of May and June, fares to London have spiked as much as 36 percent and tickets to San Francisco are up nearly 20 percent from a year ago, according to data from travel portal Yatra.com.

“For the next three months it’s actually bonanza time for international players,” said Ashish Nainan, a research analyst at CARE Ratings. “At least until the middle of June, the fares are not going to come down.”

Due to rising demand, even before Jet’s lessors grounded planes, carriers such as British Airways, Cathay Pacific Airways Ltd, Singapore Airlines Ltd and United Airlines saw an up to a 27 percent increase in passenger numbers from India in the last quarter of 2018, data from India’s aviation regulator showed. That is the latest period for which the data is available.

India is one of the world’s fastest-growing aviation markets, clocking 15-20 percent domestic growth in recent years. It has long had only two full-service long-haul carriers, state-run Air India and Jet.

Jet is now hoping to be bailed out by a new investor, with final bids due on May 10.

INCREASING CAPACITY

Before its grounding, Jet had the biggest share of India’s outbound international air traffic, carrying 12 percent of the 7.8 million passengers headed overseas in the Oct-Dec quarter, down from 14 percent a year earlier, data from the Directorate General of Civil Aviation showed.

For an interactive graphic on Jet’s market share, click https://tmsnrt.rs/2WvDQYi

For an interactive graphic on average daily flights by the airline, click https://tmsnrt.rs/2FeFDel

The total number of passengers traveling overseas with Jet fell 10 percent during the last quarter of 2018 even as the outbound travel market grew about 5 percent.

Meanwhile, Singapore Airlines posted a 27 percent increase in passengers from India, Cathay registered 17 percent growth and British Airways saw a 10 percent rise in the same period.

Cathay said the events at Jet combined with increasing demand for travel had led it to deploy larger aircraft with more seats on some Indian routes.

“In the long term we would certainly like to be able to offer more capacity into India, not just on our existing routes but by establishing new services to secondary cities,” Cathay said in a statement.

Singapore Airlines, in an email to Reuters, said the Indian market is “very promising” but declined to give details of airfare levels or demand patterns in the wake of Jet’s exit, citing a quiet period before the release of its annual results.

DOMESTIC GAINS

Jet’s grounding has also had a big impact on the domestic market, with inter-city air fares to major cities such as New Delhi, Mumbai, Bengaluru and Kolkata soaring more than 20 percent in May and June, according to Yatra.com.

The spike in fares is expected to underpin strong earnings for IndiGo and SpiceJet Ltd, which are set to report results for the quarter ended March 31 in the coming weeks.

“Domestic Indian carriers are the main benefactors, but I suspect if Jet fails to be revived by May 10 then Vistara and other airlines that ply international routes, particularly the lucrative Gulf market, are the main winners,” said Shukor Yusof, the head of aviation consultancy Endau Analytics. Vistara is a joint venture of India’s Tata Sons and Singapore Airlines.

Inadequate bilateral traffic rights between India and other countries, however, could be an impediment to foreign carriers’ hopes of winning business lost by Jet, some analysts said.

“Even before Jet’s operational shutdown, international capacity was significantly constrained,” said Kapil Kaul, CEO for South Asia of consultancy CAPA. “We have now more serious capacity challenge … this is unlikely to be stabilized in the near term.”

A new national government likely to be in place sometime after elections end in May is expected to address the international capacity constraints, and once bilateral agreements are eased airlines including Emirates, Turkish and Qatar would immediately benefit, said Kaul.

“We would love to add more flights but we are at the limit of the allocation granted to us for traffic rights,” Emirates Chief Commercial Officer Thierry Antinori told reporters in Dubai on Wednesday.

(Additional reporting by Alexander Cornwell in Dubai, Jamie Freed in Singapore and Tanvi Mehta in Mumbai; Editing by Muralikumar Anantharaman)

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FILE PHOTO: The company logo for pharmaceutical company AstraZeneca is displayed on a screen on the floor at the NYSE in New York
FILE PHOTO: The company logo for pharmaceutical company AstraZeneca is displayed on a screen on the floor at the New York Stock Exchange (NYSE) in New York, U.S., April 8, 2019. REUTERS/Brendan McDermid

April 26, 2019

By Pushkala Aripaka and Ankur Banerjee

(Reuters) – AstraZeneca Plc beat first-quarter sales and earnings expectations on Friday as the British drugmaker benefited from a push into cancer drugs and emerging markets including China.

Newer treatments such as lung cancer drug Tagrisso, now the company’s top selling medicine, have helped the drugmaker’s return to growth after years of crumbling sales due to patent losses on older drugs.

Sales in China have shown explosive growth, more than doubling since 2012, but AstraZeneca executives on Friday said that may not be sustained.

“The enormous growth you currently see in China, 28 percent, probably is not sustainable, but we feel very bullish that the growth will continue to be at a pace of between 15 percent and 20 percent,” Ruud Dobber, executive vice president, BioPharma, told Reuters.

Shares of the company were down 0.2 percent at 5,878 pence at 1031 GMT.

The turnaround in AstraZeneca’s fortunes has been powered by a push into cancer treatments led by Chief Executive Pascal Soriot, who saw off a 2014 takeover bid from Pfizer in part by promising annual sales of $45 billion by 2023.

In the first quarter, sales from its oncology unit rose 59 percent to $1.89 billion, accounting for 35 percent of total product sales.

The company has moved deeper into cancer therapy market through wide-ranging deals, including those for immunotherapy and targeted therapy. Last month, it agreed a multi-billion dollar oncology deal with Japan’s Daiichi Sankyo Co Ltd.

Interactive graphic on AZN’s top 10 drugs by sales – https://tmsnrt.rs/2W5XIRX

“We’re reaching that point where after years of having to keep faith, we have actually got something tangible to believe in,” Hargreaves Lansdown analyst Nicholas Hyett said.

AstraZeneca also backed its annual sales and earnings forecast and said it has extensively prepared for UK’s anticipated exit from the European Union, even in the event of a no-deal exit.

The company has already spent more than 40 million pounds ($52 million) on Brexit preparations, including stockpiling six weeks’ worth of drugs in the UK and four weeks in continental Europe to guard against shortages.

AstraZeneca said product sales rose 14 percent at constant currency to $5.47 billion in the quarter, led by its lung cancer drug Tagrisso and respiratory treatment Pulmicort.

Interactive graphic on AZN’s quarterly oncology sales – https://tmsnrt.rs/2W9tbCD

China sales increased by 28 percent to $1.24 billion in the quarter, accounting for nearly a quarter of overall product sales.

Core earnings came in at 89 cents per share in the quarter. Analysts on average were expecting core earnings of 85 cents per share and product sales of $5.29 billion, according to a company provided consensus of 19 analysts.

(Reporting by Pushkala Aripaka and Ankur Banerjee in Bengaluru; Editing by Bernard Orr/Keith Weir)

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https://www.infowars.com/wp-content/uploads/2016/02/dna-210.jpg

https://www.infowarsstore.com/dna-force-plus.html?ims=jbdoh&utm_campaign=IWL-DNAForcePlus-20%25off-Widget&utm_source=Infowars+Widget&utm_medium=Banner&utm_content=Widget-DNFP-20%25off

https://www.infowarsstore.com/dna-force-plus.html?ims=jbdoh&utm_campaign=IWL-DNAForcePlus-20%25off-Widget&utm_source=Infowars+Widget&utm_medium=Banner&utm_content=Widget-DNFP-20%25off

DNA Force Plus

149.95

119.96

DNA Force Plus is finally here! Now you can support optimal energy levels while adapting your body to handle the daily bombardment of toxins to overhaul your body’s cellular engines with a fan-favorite formula.

https://www.infowars.com/wp-content/uploads/2016/02/dna-210.jpg

https://www.infowarsstore.com/dna-force-plus.html?ims=jbdoh&utm_campaign=IWL-DNAForcePlus-20%25off-Widget&utm_source=Infowars+Widget&utm_medium=Banner&utm_content=Widget-DNFP-20%25off

https://www.infowarsstore.com/dna-force-plus.html?ims=jbdoh&utm_campaign=IWL-DNAForcePlus-20%25off-Widget&utm_source=Infowars+Widget&utm_medium=Banner&utm_content=Widget-DNFP-20%25off

Source: InfoWars

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