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French fourth-quarter economic growth holds up in face of protests

A woman walks past a shop window with cans of soda in Paris
A woman walks past a shop window with cans of soda in Paris, France, April 19, 2017. REUTERS/Benoit Tessier

March 26, 2019

PARIS (Reuters) – The French economy managed to keep up a steady pace of growth in the fourth quarter despite a series of violent anti-government protests that weighed on business and consumer confidence, official data showed on Tuesday.

The INSEE statistics agency said the euro zone’s second-biggest economy grew 0.3 percent in the three months to the end of December from the previous quarter, when it also grew at the same rate.

As a result the economy grew 1.6 percent over the course of last year, marginally better than the 1.5 percent flagged in a previous estimate.

Strong exports, as companies such as Airbus rushed to complete shipments before the end of the year, helped offset weak consumer spending.

Many stores in central Paris had to close on peak pre-holiday shopping days as the capital faced some of the worst rioting and vandalism in decades as the protests initially over the high cost of living spiraled out of control.

French households squirreled away cash, instead of spending money resulting from a surge in extra income at the end of last year, boosted by the scrapping of a payroll tax for unemployment insurance.

INSEE said the households’ real disposable income growth accelerated to 1.3 percent in the fourth quarter from 0.7 percent in the previous three months while the savings rate jumped to 15.2 percent from 14.3 percent.

Meanwhile, consumer spending growth was flat after growing 0.4 percent in the previous quarter.

In the corporate sector, investment growth fell to 0.3 percent from 1.7 percent in the third quarter as companies’ profit margins nudged up to 31.8 percent from 31.7 percent in the third quarter, INSEE said.

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

Source: OANN

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Kim Jong Un fancies caviar, foie gras, lobster, had staff taste food for safety at Vietnam summit, chef says

Kim Jong Un loves luxury cuisine but would have his North Korean staff taste dishes as a safety precaution during the Vietnam summit with President Trump, the executive chef at Sofitel Legend Metropole Hotel in Hanoi said.

Chef Paul Smart opened up about serving the North Korean despot and President Trump during the leaders' second summit in Vietnam, telling state-run China News Weekly on Sunday that both leaders brought their own kitchen staff to Hanoi, South China Morning Post reported.

Kim and Trump traveled to Vietnam for their second summit on Feb. 27 that was unexpectedly cut short the next day after talks over denuclearization collapsed.

Australian chef Paul Smart inside the Metropole Hotel's kitchen in Hanoi.

Australian chef Paul Smart inside the Metropole Hotel's kitchen in Hanoi. (Getty Images)

Smart said the North Korean staff members were “mysterious, but very professional” and brought their own ingredients — which included Wagyu beef, kimchi, foie gras, ginseng and persimmon punch — for the meals.

PRESIDENT TRUMP, KIM JONG UN DINED ON PEAR KIMCHI, CHOCOLATE LAVA CAKE AT 'SOCIAL DINNER'

They also hinted that Kim enjoyed other delicacies such as caviar and lobster.

“He really likes to dine and experience cuisine for what it is,” Smart said of Kim.

During the summit, Smart prepared the “social dinner” between Trump, Kim and other officials at the Sofitel Legend Metropole. The menu that Smart created included grilled sirloin with pear kimchi, chocolate lava cake and dried persimmon punch. Smart told China News Weekly he debated on placing Vietnamese flavors in the dishes, but opted to keep it more Western cuisine to after “careful consideration.”

“I tried to keep the taste neutral and make delicious, simple foods that suited both tastes,” the chef said.

Kim Jong Un and President Trump during the "social dinner" on Feb. 27.

Kim Jong Un and President Trump during the "social dinner" on Feb. 27. (AP)

Smart previously told the AFP News Agency that Trump asked for his steak well done, but Kim preferred it rarer.

“President Trump wanted his steak well done, but Kim preferred his steak medium-rare to rare, very rare,” Smart said.

NORTH KOREA AIRS DOCUMENTARY GLORIFYING KIM-TRUMP SUMMIT -- BUT FAILS TO MENTION TALKS COLLAPSED

About an hour before the dinner, Kim’s staff would taste each dish to make sure the food was safe to eat, according to the chef.

Smart was expected to serve foie gras and snow fish at lunch on Feb. 28 before it was canceled when negotiation talks were cut short, South China Morning Post reported. He told China News Weekly he was disappointed the meal didn’t happen, but noted the American and North Korean chefs had “very pleasant cooperation. It went well.”

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Kim has been previously rumored to have a sophisticated palate. He reportedly tried to send three North Koreans to France to learn how to make Emmental, one of his favorite type of cheese, in 2014.

A North Korean defector also claimed in 2017 that Kim would indulge in $2,700 “bird’s nest soup,” caviar and other imported dishes despite the country’s food shortage due to poverty and sanctions.

Source: Fox News World

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FAA Stands By Decision Not to Ground Boeing 737 MAX

The Federal Aviation Administration said on Tuesday it will not ground the Boeing 737 MAX that has been involved in two fatal crashes since October despite a growing number of countries ordering the planes to stop flying.

Acting FAA Administrator Dan Elwell said its "review shows no systemic performance issues and provides no basis to order grounding the aircraft." He added that no foreign civil aviation authorities have "provided data to us that would warrant action."

He added if any safety issues are identified during the ongoing "urgent review" of Sunday's Ethiopian Airlines crash it will "take immediate and appropriate action."

Source: NewsMax America

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Trump administration sidelines offshore drilling plan: WSJ

FILE PHOTO: Former energy lobbyist David Bernhardt testifies before a Senate Energy and Natural Resources Committee
FILE PHOTO: Former energy lobbyist David Bernhardt testifies before a Senate Energy and Natural Resources Committee hearing on his nomination of to be Interior secretary, on Capitol Hill in Washington, U.S., March 28, 2019. REUTERS/Yuri Gripas/File Photo

April 25, 2019

WASHINGTON (Reuters) – The Trump administration will hold off on issuing its plan to expand offshore drilling as it weighs what to do after a March court ruling that blocked drilling in the Arctic and Atlantic, Interior Secretary David Bernhardt told the Wall Street Journal.

The newly confirmed secretary said the agency’s five year plan for oil and gas drilling on the Outer Continental Shelf would be sidelined indefinitely as it waits for the case to go through the appeals process.

“By the time the court rules, that may be discombobulating to our plan,” Bernhardt told The Wall Street Journal.

(Reporting by Valerie Volcovici)

Source: OANN

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Woods within striking distance of fifth Green Jacket

Third round play of the Masters at Augusta National
Golf - Masters - Augusta National Golf Club - Augusta, Georgia, U.S. - April 13, 2019 - Tiger Woods of the U.S. walks up to the 18th green during third round play. REUTERS/Jonathan Ernst

April 13, 2019

By Andrew Both

AUGUSTA, Ga. (Reuters) – Tiger Woods shot his best score at Augusta National since 2011, a five-under-par 67 that lifted him within two strokes of leader Francesco Molinari after the third round at the Masters on Saturday.

Woods parlayed his 54-hole lead into victory in 2005, but he has not since added to his collection of four Green Jackets, despite coming close several times in the ensuing decade-plus.

He will start Sunday’s final round joint second with fellow American Tony Finau, while Molinari will be the man to catch at 13-under 203.

The Italian is unlikely to be intimidated, after staring down and overtaking Woods en route to winning last year’s British Open at Carnoustie, where they were paired in the final round.

A victory on Sunday would be Woods’ fifth, leaving him second behind six-times champion Jack Nicklaus.

Arnold Palmer also had four victories.

Woods has been stuck on 14 major titles since the 2008 U.S. Open, and the early holes on Saturday offered little inkling of the fireworks ahead.

Four pars followed by a bogey at the difficult newly-lengthened fifth left him languishing at five-under-par.

For a time he failed to join the birdie party in benign condition on a course where marshmallow greens allowed for players to fire fearlessly at the pins.

But a 20-foot birdie at the sixth sparked his round as the 43-year-old quickly climbed up the leaderboard by picking up further shots at the next two holes.

Not that he was perfect over the middle holes.

He pushed his drives at the par-four ninth and 11th holes, but both times fortunately found a clear opening and had no trouble threading a recovery between the Georgia pines and saving par.

But his biggest piece of luck came at the par-five 13th, where he hooked his drive so far left that the ball seemed more likely to end up in adjacent Augusta Country Club than stay in Augusta National. But it hit a tree and fell to earth right of Rae’s Creek tributary, in the clear in light rough.

He took advantage of the break, punching his second shot to wedge range and then skipping his next up to set up a birdie.

Further birdies followed at the par-five 15th and par-three 16th.

(Reporting by Andrew Both, editing by Pritha Sarkar)

Source: OANN

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FBI aids probe after car plows into 8 California pedestrians

The FBI is assisting California officials in the investigation of a motorist who appeared to deliberately plow into a group of people, injuring eight, authorities said Wednesday.

Prentice Danner, a spokesman for the FBI's field office in San Francisco, said the Sunnyvale Police Department is the lead agency in the investigation but that the bureau will become more involved "if it is determined a federal crime was committed."

Sunnyvale Police Cpt. Jim Choi said the driver of the car was arrested and has been identified but that his name is not being made public to avoid compromising the investigation.

He said the department notified the FBI after the Tuesday evening crash because "we are making sure we are looking at all the possible motives and angles."

Witnesses told investigators the motorist was speeding and drove directly toward the pedestrians without trying to veer away or stop the car before striking them, Choi said.

"Some of the statements (from witnesses) show that the driver did not try to avoid the pedestrians at the cross walk, and there was no attempt to swerve, drive away or break," he said.

Some of the eight people injured were at a corner or on the crosswalk when the car hit them before smashing into a tree, he said. The crosswalk remains closed Wednesday as officials investigate.

A 13-year-old boy and seven others were taken to the hospital Tuesday evening after the crash near a shopping center in Sunnyvale, more than an hour south of San Francisco, Choi said. An update on their conditions was expected later Wednesday.

Source: Fox News National

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Current Fed Policy Proves Past Failures

There’s that word again — patient.

Jerome Powell once again emphasized patience during the most recent FOMC meeting. The Federal Reserve left interest rates unchanged and took any hikes for 2019 off the table. It went a step further and projected just one rate hike in 2020.

During his most recent podcast, Peter Schiff said most people expected a dovish Fed, “But I don’t think they were expecting the Fed to be this dovish.”

“In light of global economic and financial developments and muted inflation pressures, the Committee will be patient as it determines what future adjustments to the target range for the federal funds rate may be appropriate to support these outcomes,” the central bank said in its monetary policy statement.

Patient…

During his post-meeting news conference, Powell said, “It may be some time before the outlook for jobs and inflation calls clearly for a change in policy,” Powell said. “Patient means that we see no need to rush to judgment.”

Powell also said the Fed will freeze bond sales from its $3.8 trillion balance sheet later this autumn. In other words, the balance sheet reduction program that was on “autopilot” just six months ago is done.  As Peter said, despite all the talk about normalizing its balance sheet and shrinking it back down to the size that it was before the 2008 financial crisis, the Fed didn’t even get anywhere close.

Peter said the increasingly dovish tone comes as no surprise to him.

“The only thing that surprises me is how long it took for the Fed to get here … The only reason I think it took this long was because of the election of Trump. I think this pushed back these admissions by a couple of years as the Fed was able to take cover in all the enthusiasm that resulted from Trump making America great again, and the tax cuts, and all the stimulus, and all the positive outlooks for change and all that.”

Peter said this delay was actually unfortunate because the delay allowed the underlying problems to get much worse while the central bank kicked the can down the road.

“So now, we have a much bigger problem. We have a much bigger crisis in our future as this problem comes to a head, you know, when the Fed finally has to go back to zero, when the Fed has to go back to QE4, which the Fed is still not admitting that they’re going to do.”

In fact, despite the increasing dovishness, the Fed still hasn’t admitted that there are any real problems in the US economy.

Meanwhile, the pundits on the financial networks were generally applauding the Fed’s recent trajectory. Peter said nobody acknowledges the real problem here.

“The Fed is not getting it right. What the Fed is doing now just proves how much they got wrong in the past. The reason the Fed had to abort the process prematurely is because they couldn’t finish it. The reason they had to stop raising rates was because they couldn’t keep raising them because we have too much debt. The reason they had to call off the reduction of their balance sheet was because they can’t do it. The Fed can’t do what they were pretending they were going to be able to do the entire time.”

(Photo by Chris Dlugosz, Flickr)

Peter said the Fed was able to convince people that its policy not only worked, but it could actually unwind it. He said it was like believing you could get drunk, quit drinking, and then stay high.

“The Fed did not create a sustainable recovery. They simply inflated a bubble, and the air is already coming out of that bubble. That is why the Fed has made these changes. That is why it did the 180-degree switch. That is why the Fed is now ‘patient.’ It’s not because circumstances have changed. That’s just the excuse that I knew they would come up with from the very beginning.”

The Dow initially rallied on the Fed statements, but sold off late, closing down about 141 points. Peter said this indicates that there isn’t much upside left in the stock market when it comes to the “Powell Pause.”

“I think the bear market rally that the Fed created with that unexpected policy shift has pretty much run its course, and that there’s really nothing the Fed can do on this path to get the markets to go higher.”

Gold was up on the Fed news. As we reported yesterday, a Fed shift to neutral policy has historically been good for gold.

Peter also touched on the Fed’s view of inflation and oil prices. Listen to the whole podcast for more in-depth analysis.


Alex Jones leads the fight to protect the nation’s most vulnerable victims.

Source: InfoWars

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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)

Source: OANN

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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)

Source: OANN

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Source: InfoWars

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It’s the type of crime that doesn’t happen every day.

Police in the suburbs of Philadelphia say three suspects broke into a medical facility in Wynnewood, Pennsylvania, last Saturday and fled with 18 colonoscopies – devices used for examining the health of patients’ colons.

Suspects are seen leaving a medical facility in Wynnewood, Pa., allegedly carrying 18 colonoscopes worth about $450,000. (Lower Merion Police Department)

Suspects are seen leaving a medical facility in Wynnewood, Pa., allegedly carrying 18 colonoscopes worth about $450,000. (Lower Merion Police Department)

AMERICAN SUPERMODEL PAT CLEVELAND ‘STAYING STRONG’ FOLLOWING COLON CANCER DIAGNOSIS

The devices were reportedly worth a total of about $450,000, authorities said.

But police were perplexed about what the suspects might have planned to do with the instruments.

“This is not something that a typical pawn shop might accept,” Lower Merion Police Detective Sergeant Michael Vice told Philadelphia’s WCAU-TV. “My feeling would be that it was some type of black market sales.”

Such a market apparently does exist, Lower Merion Police Superintendent Michael J. McGrath told Philly.com.

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“They appeared to know precisely where to go, and they pried the door open,” McGrath said of the suspects, who were captured on surveillance video leaving the facility, carrying bulging backpacks.

Police are hoping the suspects will be caught in the end.

Source: Fox News National

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