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Pope: Women have ‘legitimate claims’ for justice, equality

Pope Francis says women have "legitimate claims" to seek more justice and equality in the Catholic Church, but has stopped short of endorsing more sweeping calls from his own bishops to give women decision-making roles.

Francis on Tuesday issued a document inspired by an October 2018 meeting of bishops on better ministering to today's young Catholics. The meeting was marked by demands for greater women's rights, and the final document called the need for women to claim decision-making positions in the church "a duty of justice."

In the lengthy document "Christ is Alive," Francis endorses no such conclusion. He writes that the church must be attentive to women's "legitimate claims" for equality and must better train men and women with leadership potential.

Source: Fox News World

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South Korea economy unexpectedly contracts in first quarter, worst since global financial crisis

A man walks in a park at a business district in Seoul
FILE PHOTO: A man walks in a park at a business district in Seoul, South Korea, March 23, 2016. Picture taken on March 23, 2016. REUTERS/Kim Hong-Ji

April 24, 2019

SEOUL (Reuters) – South Korea’s economy unexpectedly shrank in the first quarter, marking its worst performance since the global financial crisis, as government spending failed to keep up the previous quarter’s strong pace and as companies slashed investment.

Gross domestic product (GDP) in the first quarter declined a seasonally adjusted 0.3 percent from the previous quarter, the worst contraction since a 3.3 percent drop in the fourth quarter of 2008 and sliding from 1 percent growth in Oct-Dec, the Bank of Korea said on Thursday.

None of the economists surveyed in a Reuters poll had expected growth to contract. The median forecast was for a rise of 0.3 percent.

From a year earlier, Asia’s fourth-largest economy grew 1.8 percent in the January-March quarter, compared with 2.5 percent growth in the poll and 3.1 percent in the final quarter of 2018.

Exports fell 2.6 percent quarter-on-quarter, a sharper drop than the 1.5 percent decline in the previous three months.

Capital investment tumbled 10.8 percent to a 21-year low, while construction investment inched down 0.1 percent, according to the central bank.

(Reporting by Joori Roh, Cynthia Kim; Editing by Kim Coghill)

Source: OANN

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Nasdaq reports rise in first quarter earnings

FILE PHOTO: A view of the exterior of the Nasdaq market site in Times Square, New York City
FILE PHOTO: A view of the exterior of the Nasdaq market site in Times Square New York City, NY, U.S. April 25, 2017. REUTERS/Shannon Stapleton/File Photo

April 24, 2019

NEW YORK (Reuters) – Nasdaq Inc on Wednesday reported a rise in first quarter profits on Wednesday as a pickup in the exchange operator’s non-transactional businesses, including market technology, helped offset a softer trading environment.

The company’s net income rose to $247 million, or $1.48 per diluted share, in the quarter ended March 31, from $177 million, or $1.05 per diluted share, a year earlier.

(Reporting by John McCrank)

Source: OANN

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India Joining International Gold Rush

The Reserve Bank of India has jumped on the gold bandwagon.

Since December 2017, the Indian central bank has added 50.4 tons of gold to its reserves.

India bought 8.2 tons of gold in January and February of this year and analysts project that pace to pick up. Economist Howie Lee told Bloomberg he expects the RSB to add as much as 1.5 million ounces of gold to its reserves in 2019. That comes to about 46.7 tons.

India’s gold reserves currently stand at a record high of almost 609 tons, according to data from the IMF.

Indians traditionally have a strong affinity for gold. While Americans generally think of gold as a luxury item, many Indians view it as a necessity. In the Asian nation, buying gold is not just for the rich. In fact, a recent survey shows that possessing the yellow metal is a universal phenomenon across all income classes in India. But the Indian central bank hasn’t added a significant amount of gold to its reserves since 2009. That year, the RBI bought 200 tons of gold from the IMF.


Gerald Celente breaks down what’s ahead as the Federal Reserve crashes the debt & real estate bubble it created worldwide.

Why have Indians suddenly turned to gold? According to an article at The Hindu BusinessLine, the motivation is much the same as in countries like Russia and China. The Indians want to minimize exposure to the US dollar.

“There is a definite pattern apparent in the countries that are leading this central bank gold hunt. Countries with a strong anti-American sentiment, that wish to reduce their dependence on the US dollar, top the list of nations that have been adding gold to their forex reserves in the last few years.”

Through the first quarter of this year, Russia has increased its gold hoard by 56 tons. This continued a 2018 trend. Russia has been endeavoring to reduce its exposure to the dollar over the last several years by buying gold and selling off US Treasurys. Russian gold reserves increased 274.3 tons in 2018, marking the fourth consecutive year of plus-200 ton growth. In February 2018, Russia passed China to become the world’s fifth-largest gold-holding country. Over the last decade, Russia has quadrupled its bullion reserves.

(Photo by Ben Stassen, Flickr)

The Central Bank of China has also been adding to its official gold reserves over the last several months. China bought gold for the fourth straight month in March, adding another 11.2 tons of the yellow metal to its reserves.

In total, the world’s central banks accumulated 651.5 tons of gold last year. The World Gold Council noted that 2018 ranked as the highest level of annual net central bank gold purchases since the suspension of dollar convertibility into gold in 1971, and the second highest annual total on record. That trend appears to have continued into 2019 with central banks globally adding 90 tons of gold in the first two months of this year.

According to The Hindu BusinessLine, US policy and growing wariness of the dollar has also motivated India to jump on the gold bandwagon.

“It is obvious that the trade war unleashed by the US has made emerging economies, including India, nervous about future policies of the US government. The clear anti-globalization stand taken by the current US government, and the scant respect displayed for policies that promote peace and inclusive growth have made it imperative to reduce dependence on the US currency; that can turn volatile in tandem with the policies of the government. The mounting debt in the US and unbridled printing of notes for successive quantitative easing programmes since 2009 have also eroded the intrinsic worth of the dollar significantly.”

As The Hindu BusinessLine article points out, individual investors should take note of these central banks buying gold.

“It signals that gold retains its position as a premier store of value. An asset that is a store of value is one which is expected to retain its purchasing power in the future.”


On his way to bullhorn the White House, Alex Jones bumped into Max Keiser.

Source: InfoWars

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Jordan’s PM appeals for more aid as most Syrian refugees set to stay

FILE PHOTO: Jordan's Prime Minister Omar al-Razzaz speaks during a news conference in Amman
FILE PHOTO: Jordan's Prime Minister Omar al-Razzaz speaks during a news conference in Amman, Jordan June 19, 2018. REUTERS/Muhammad Hamed/File Photo

February 20, 2019

By Suleiman Al-Khalidi

AMMAN (Reuters) – Jordan’s Prime Minister Omar al-Razzaz appealed on Wednesday to major donors to continue multi-billion dollar funding for Syrian refugees in the kingdom, saying most of those who had fled the eight-year conflict had no intention of returning any time soon.

Razzaz told representatives of major Western donors, U.N. agencies and NGOs that relatively few refugees had gone back since Syrian President Bashar al Assad’s army last summer regained control of southern Syria, where most had fled from.

“The number of refugees that so far returned voluntarily is low and most have no intention of going back any time soon,” Razzaz told a meeting to launch a U.N-funded government plan that earmarks $2.4 billion in funding needs for 2019.

Officials say only around 10,000 refugees out of a total estimated at 1.3 million had left since the two countries opened the vital Nassib-Jaber border crossing last October.

Razzaz echoed the U.N. view that unstable conditions inside Syria, where large-scale destruction, fear of retribution and military conscription has made many reluctant to return.

“We are now entering a new phase of the Syrian crisis, however the impact is still ongoing. The conditions for their return are not present,” Razzaz added.

The prime minister warned against donor fatigue in a protracted crisis where the needs of refugees and vulnerable Jordanians were largely unchanged.

Maintaining funding that covers education, health and crucial services for tens of thousands of Syrian refugees and local communities was crucial to ease rising pressures on the debt-burdened economy, he added.

“Aid helped Jordan in staying resilient in a difficult regional setting,” Razzaz said, adding the refugee burden had strained meager resources such as water and electricity, with a donor shortfall covered from state finances.

Jordan is struggling to rein in record public debt of $40 billion, equivalent to 95 percent of gross domestic product, under a tough International Monetary Fund (IMF) austerity plan.

Major donors say more than $6 billion had been extended to Jordan since 2015, which economists credit for rejuvenating once sleepy northern border towns, while refugee entrepreneurship brought a pool of cheap labor and new skills, triggering a property boom and higher productivity.

The kingdom received around $1.6 billion last year alone.

“The level of funding to Jordan that still remains is exceptional in global comparison,” said U.N. Resident and Humanitarian Coordinator Anders Pedersen, adding needs had evolved from the humanitarian aid required early in the conflict to development projects that benefit the economy.

(Reporting by Suleiman Al-Khalidi; Editing by David Holmes)

Source: OANN

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Alex Jones Takes On Game of Thrones

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Source: InfoWars

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EU, Rome agree draft deal to soften bail-in rules on Italy banks: source

FILE PHOTO: Duomo's cathedral and Porta Nuova's financial district are seen in Milan
FILE PHOTO: Duomo's cathedral and Porta Nuova's financial district are seen in Milan, Italy, May 16, 2018. REUTERS/Stefano Rellandini/File Photo

April 5, 2019

By Francesco Guarascio

BUCHAREST (Reuters) – The Italian government and the European Commission have reached a provisional agreement to reimburse some investors who bought shares in failed banks, an Italian official said, in an unprecedented move that would soften EU rules on bank rescues.

The bail-in rules devised after the last decade’s financial crisis were designed to make any given bank and its creditors – instead of taxpayers – financially responsible if it went bust, with shareholders first in line to pay up.

Since the regulations came into force in 2016, shareholders have been all but wiped out in all bank collapses, including Banca Monte dei Paschi di Siena and two smaller north-eastern banks that Italian authorities intervened to save in 2017.

Losses have also been inflicted on bondholders in some cases, while depositors have always been spared.

But under the new provisional deal between Brussels and Rome, bondholders and shareholders of failed Italian banks could claim their money back, the official from the Italian finance ministry said.

“The Commission is in constructive contact with Italy on the proposed measures,” the EU commissioner for financial services Valdis Dombrovskis said, declining to comment further.

Under the agreement, shareholders with annual incomes below 35,000 euros ($39,280) and property worth less than 100,000 euros would be automatically compensated for their losses in past bank rescues, the official said.

The deal would notably benefit Italian savers forced to buy bank shares in exchange for mortgages in what appears to have been fraudulent transactions, but its critics say it is unlikely that all those entitled to claim compensation under the wealth criterion were victims of swindling.

In a March ruling that has been interpreted as a softening of the bail-in rules, EU judges overturned a decision the European Commission took in 2014 to block the rescue of Tercas, a small Italian bank, with money from the country’s depositor fund.

While Brussels could appeal that ruling, the deal with Italy would further weaken the legal framework.

The agreement would need to be approved by the two parties in Italy’s euroskeptic government, which is campaigning for EU elections in May.

The anti-establishment 5-Star Movement wants even softer terms to compensate those who were allegedly missold bank shares and bonds, an Italian official said. It and the co-ruling far-right League pressed for generous compensation for bank creditors before last year’s national elections in Italy.

(Reporting by Francesco Guarascio; additional reporting by Valentina Za in Milan; editing by John Stonestreet)

Source: OANN

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FILE PHOTO: The Credit Suisse logo is pictured on a bank in Geneva
FILE PHOTO: The Credit Suisse logo is pictured on a bank in Geneva, Switzerland, October 17, 2017. REUTERS/Denis Balibouse/File Photo

April 26, 2019

ZURICH (Reuters) – Shareholders approved Credit Suisse’s 2018 compensation report with an 82 percent majority on Friday, overriding frustrations expressed at its annual general meeting over jumps in executive pay during a year its share price plummeted.

Three shareholder advisers had recommended investors vote against Switzerland’s second-biggest bank’s remuneration report, while a fourth backed the report but expressed reservations about whether management pay matched performance.

The approval marked a slight increase over the 80.8 percent support garnered for the bank’s 2017 compensation report.

(Reporting by Brenna Hughes Neghaiwi; Editing by Michael Shields)

Source: OANN

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FILE PHOTO: Traders work on the trading floor of Barclays Bank at Canary Wharf in London
FILE PHOTO: Traders work on the trading floor of Barclays Bank at Canary Wharf in London, Britain December 7, 2018. REUTERS/Simon Dawson/File Photo

April 26, 2019

By Simon Jessop and Sinead Cruise

LONDON (Reuters) – Activist investor Edward Bramson is likely to fail in his attempt to get a board seat at Barclays’ annual meeting next week, even though shareholders are dissatisfied with performance of the group’s investment bank.

New York-based Bramson’s Sherborne Investors and the board of the British bank have been sparring for months over Barclays’ strategy.

Bramson wants to scale back Barclays’ investment bank to reduce risk and boost shareholder returns. Barclays Chief Executive Jes Staley remains staunchly committed to growing the business out of trouble.

After failing to persuade Staley to change course since he began building a 5.5 percent stake in the bank in March last year, Bramson hopes a board seat will rachet up the pressure.

Both sides have written to shareholders pitching their case and Bramson has courted investors in one-on-one meetings, although none have publicly backed him yet.

Interviews by Reuters with five institutional investors in Barclays suggest Bramson has failed to persuade them.

Sherborne declined to comment.

Mirza Baig, head of investment stewardship at top-40 shareholder Aviva Investors, said Bramson was welcome on the bank’s register but the boardroom was a step too far.

“He has created a lot of value at other businesses, but, generally, when he has come in as executive chair and taken full control. This would be a different case where he would just be one lone voice on the board,” he said.

A second Barclays shareholder said he backed Bramson’s goal of improving returns but via an “evolutionary” approach.

“If you look at banks that have tried to restructure their operations in investment banking – you look at Natwest Markets, Deutsche Bank – I struggle to think of an example where a roughshod restructuring has been accretive to shareholder value.”

A third, top-30 investor said he had been impressed by incoming Chairman Nigel Higgins’ grasp of the challenge in hand, and felt investors would give him time.

“Management know they have to execute and deliver improved returns… [Higgins] will continue to re-shape the board but obviously he didn’t feel that having someone with a diametrically opposed view on it would be helpful.”

A fourth, top-30 investor agreed: “We voted for the chairman to come in and it would be crazy to allow an activist to join the board (at this time).”

Jupiter Fund Management, the 24th largest investor, said it also planned to vote against Bramson.

Barclays has nearly 500 institutional shareholders, Refinitiv data showed.

Since Staley joined Barclays in 2015, the investment bank returns relative to capital invested have increased but are still underperforming the overall business.

Barclays’ first-quarter figures showed the investment bank posted a 6 percent drop in income from its markets business and a 17 percent fall in banking advisory fees.

Returns in the investment bank fell to 9.5 percent from 13.2 percent a year ago.

Famed for successful campaigns against smaller British companies in sectors from chemicals to advertising, Bramson’s board seat pitch has been rebuffed by shareholder advisory firms.

Institutional Shareholder Services, the world’s biggest, said Bramson’s proposal “falls short of what can reasonably be expected from a shareholder trying to address issues at a 28 billion pounds, systemically important bank”.

Glass Lewis also flagged concern about Bramson’s lack of banking experience and “questionable” shareholding structure, referring to Sherborne’s use of derivative contracts to hedge losses should its strategy fail.

Critics said the arrangement meant his interests are not truly aligned with those of other long-term shareholders.

British advisory firm Pirc, however, said it recommended that investors abstain in the vote on Bramson’s proposal as a challenge to the board to do better in the year ahead – or face a similar contest in 2020.

(Editing by Jane Merriman)

Source: OANN

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https://a57.foxnews.com/static.foxnews.com/foxnews.com/content/uploads/2019/04/918/516/02_2.jpg?ve=1&tl=1

After an over 15-month pregnancy, “Akuti,” a 7-year-old Greater One Horned Indian Rhinoceros, gave birth as a result of induced ovulation and artificial insemination at Zoo Miami, April 23, 2019.

Ron Magill/Zoo Miami

https://a57.foxnews.com/static.foxnews.com/foxnews.com/content/uploads/2019/04/918/516/02_2.jpg?ve=1&tl=1

Source: Fox News World

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FILE PHOTO: File photo of a Chevron gas station sign in Del Mar, California
FILE PHOTO: A Chevron gas station sign is seen in Del Mar, California, in this April 25, 2013 file photo. REUTERS/Mike Blake/File Photo

April 26, 2019

(Reuters) – U.S. oil and natural gas producer Chevron Corp reported a 27 percent fall in quarterly earnings on Friday, hit by lower crude prices and weaker margins in its refining and chemicals businesses.

Net income attributable to the company fell to $2.65 billion, or $1.39 per share, for the first quarter ended March 31, from $3.64 billion, or $1.90 per share, a year earlier.

Earlier in the day, larger rival Exxon Mobil Corp reported earnings well below analysts’ estimates, as margins in its refining business were hurt by higher Canadian prices and heavy scheduled maintenance.

(Reporting by Arathy S Nair in Bengaluru; Editing by Saumyadeb Chakrabarty)

Source: OANN

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FILE PHOTO: Ford logo is seen at the North American International Auto Show in Detroit, Michigan
FILE PHOTO: The Ford logo is seen at the North American International Auto Show in Detroit, Michigan, U.S., January 15, 2019. REUTERS/Brendan McDermid/File Photo

April 26, 2019

(Reuters) – Ford Motor Co said on Friday the U.S. Department of Justice had opened a criminal investigation into the automaker’s emissions certification process in the United States.

The potential concern does not involve the use of defeat devices, the company said in a regulatory filing. (https://bit.ly/2VqjHpl)

Ford had voluntarily disclosed the matter to the U.S. Environmental Protection Agency and the California Air Resources Board in February.

(Reporting by Ankit Ajmera in Bengaluru; Editing by James Emmanuel)

Source: OANN

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