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Fed should be vigilant about too-low inflation, Williams says

FILE PHOTO: FILE PHOTO: Clouds over the Federal Reserve in Washington
FILE PHOTO: Flags fly over the Federal Reserve Headquarters on a windy day in Washington, U.S., May 26, 2017. REUTERS/Kevin Lamarque/File Photo/File Photo

February 22, 2019

By Trevor Hunnicutt

NEW YORK (Reuters) – The Federal Reserve needs to make sure that tight labor markets do not spark a sustained surge in inflation, but equally that inflation expectations do not get stuck too low, New York Federal Reserve Bank President John Williams said on Friday.

The concern about excessively low inflation is remarkable in the context of a U.S. unemployment rate of 4 percent, well below what most economists believe is sustainable in the long run. Traditionally, economists have found that when labor markets run hot, eventually inflation will as well.

That relationship may have changed, according to a spate of new research from within and outside of the Fed that some policymakers have used to justify the U.S. central bank’s new stance of “patience” on interest rates despite very low unemployment.

Williams made the remarks in response to a paper released on Friday that argued that though upward price pressures are currently muted, the Fed needs to guard against the possibility that low unemployment rates and rising wages could eventually spark higher inflation, as it did in the 1960s.

“I concur that we must remain vigilant regarding a sustained takeoff in inflation,” Williams said, citing his own analysis that showed low unemployment does in fact still exert upward pressure on prices.

But unlike the 1960s, he said, inflation dynamics have changed so that even if prices surge temporarily, that increase does not get embedded into inflation expectations, keeping inflation from rising sustainably above healthy levels.

Indeed, he said, inflation expectations are key to keeping inflation on track, and expectations are shaped in large part by experience. Inflation’s recent track record of riding well below the Fed’s 2-percent target is, therefore, concerning, he said.

“We must be equally vigilant that inflation expectations do not get anchored at too low a level,” he said. “This persistent undershoot of the Fed’s target risks undermining the 2 percent inflation anchor.”

(Writing by Ann Saphir; Editing by Chizu Nomiyama)

Source: OANN

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Nissan may ask ex-Toray boss Sakakibara to chair board meetings: source

FILE PHOTO: Chairman of Japan Business Federation Sadayuki Sakakibara attends a news conference in Tokyo
FILE PHOTO: Chairman of Japan Business Federation (Keidanren) Sadayuki Sakakibara attends a news conference in Tokyo, Japan, January 23, 2017. REUTERS/Toru Hanai

March 14, 2019

TOKYO (Reuters) – Nissan Motor is considering asking ex-Toray Industries chief and Japan Inc heavyweight Sadayuki Sakakibara to chair its board meetings while leaving vacant the chairman post previously held by Carlos Ghosn, a source said on Thursday.

Japan’s No. 2 automaker is considering nominating Sakakibara, a former head of powerful business lobby Japan Business Federation, to become an external director at the general shareholders’ meeting in late June, the source, who has direct knowledge of the matter, told Reuters.

The person declined to be identified because the decision is not final.

(Reporting by Maki Shiraki; Writing by Chang-Ran Kim; Editing by Stephen Coates)

Source: OANN

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Ashes of California veteran couple’s baby reportedly stolen

A precious item was reportedly swiped from a California couple’s residence over the weekend – their baby daughter’s ashes.

Kelly and Elliot Smith had other items taken from their home as well after the break-in on Sunday, but their primary concern is the box that holds their daughter’s remains, Kelly told Fox 40.

A precious item was reportedly stolen from a California couple’s home over the weekend – their baby daughter’s ashes.

A precious item was reportedly stolen from a California couple’s home over the weekend – their baby daughter’s ashes. (Fox 40)

AIRPORT POLICE LOOKING FOR TRAVELER WHO LEFT CREMATED HUMAN REMAINS AT TSA CHECKPOINT IN ALASKA

"We don’t care about any of that,” Kelly said. “We just want our daughter back."

The ashes are “all I have” of the baby girl named Enola who was born prematurely, Kelly told Fox 40.

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"She was five months early and she was passed, deceased," she said.

The Smiths – who have each served overseas – reportedly realized what happened after returning from a trip and have since been trying to recover the significant item.

Source: Fox News National

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EU parliament chides Romania for charges against former anti-graft chief

European Union leaders summit in Brussels
European Parliament President Antonio Tajani arrives for a European Union leaders summit in Brussels, Belgium March 21, 2019. REUTERS/Eva Plevier/Pool

April 3, 2019

BRUSSELS (Reuters) – European Parliament head, Antonio Tajani, expressed concern on Wednesday over Romania pressing charges against the country’s former anti-corruption chief who is the chamber’s preferred candidate for the new role of EU chief prosecutor.

“I wish to express all the concern of the European Parliament for the situation that has occurred,” Tajani told a plenary session of the European Parliament after Bucharest filed charges against Laura Codruta Kovesi.

“Ms. Kovesi remains our candidate and continues to enjoy our respect and support,” he said, adding that he would write to the government in Bucharest on the matter.

The EU’s executive has also intervened on behalf of Kovesi and on Wednesday issued a stark warning to Romania, which the bloc fears is backtracking on anti-corruption reforms.

(Reporting by Gabriela Baczynska and Clare Roth)

Source: OANN

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EU top court overturns Brussels block of German green charge exemption

FILE PHOTO: Thyssenkrupp's logo is seen close to the elevator test tower in Rottweil
FILE PHOTO: Thyssenkrupp's logo is seen close to the elevator test tower in Rottweil, Germany, September 25, 2017. REUTERS/Michaela RehlE/File Photo

March 28, 2019

BRUSSELS (Reuters) – Germany’s exemptions for heavy industry to a green energy surcharge were legal, the European Union’s top court said on Thursday in a ruling that overturned a 2014 decision of the EU antitrust regulator.

The European Commission, which is responsible for competition policy in the EU, had ordered Germany to recoup some of the multi-billion-euro reductions on the green surcharge it granted in 2013 and 2014 to some 2,000 heavy energy users, such as chemical giant BASF and steelmaker ThyssenKrupp.

The Commission’s decision was backed by the EU general court in a ruling in 2016. But the European Court of Justice on Thursday overturned that verdict, saying Brussels had not proved that the exemptions offered to the German companies were illegal state aid.

(Reporting by Francesco Guarascio; editing by Philip Blenkinsop)

Source: OANN

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Sudan summons Egypt's ambassador over border dispute

Sudan has summoned Egypt's ambassador to protest his country's announcement of an international tender in a disputed border area between the two nations.

According to the official SUNA news agency, an unnamed senior Foreign Ministry official conveyed Khartoum's protest over Egypt's announcement for a bid in the disputed Halayeb triangle, a point of contention between Egypt and Sudan that dates back to British colonial times.

The move came days after Egypt's oil ministry announced the international tender.

Sudan also warned international firms from joining the bid or carrying any explorations in this area and urged Egypt to employ "peaceful means" to solve the border dispute.

Since 1958, Sudan annually renews its complaint to the U.N. Security Council over the territory.

Source: Fox News World

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Mosque shooter a white nationalist seeking revenge

The gunman behind at least one of the mosque shootings in New Zealand that left 49 people dead on Friday tried to make a few things clear in the manifesto he left behind: He is a 28-year-old Australian white nationalist who hates immigrants. He was set off by attacks in Europe that were perpetrated by Muslims. He wanted revenge, and he wanted to create fear.

He also, quite clearly, wanted attention.

Though he claimed not to covet fame, the gunman — whose name was not immediately released by police — left behind a 74-page document posted on social media under the name Brenton Tarrant in which he said he hoped to survive the attack to better spread his ideas in the media.

And though he portrayed himself in his writings as quiet and introverted, he livestreamed to the world his assault on the worshippers at Christchurch's Al Noor Mosque.

That attack killed at least 41 people, while an assault on a second mosque in the city not long after killed several more. Police did not say whether the same person was responsible for both shootings.

While his manifesto and video were an obvious and contemptuous ploy for infamy, they do contain important clues for a public trying to understand why anyone would target dozens of innocent people who were simply spending an afternoon engaged in prayer.

There could be no more perplexing a setting for a mass slaughter than New Zealand, a nation so placid and so isolated from the mass shootings that plague the U.S. that even police officers rarely carry guns.

Yet the gunman himself highlighted New Zealand's remoteness as a reason he chose it. He wrote that an attack in New Zealand would show that no place on earth was safe and that even a country as far away as New Zealand is subject to mass immigration.

He said he grew up in a working-class Australian family, had a typical childhood and was a poor student. A woman who said she was a colleague of his when he worked as a personal trainer in the Australian city of Grafton said she was shocked by the allegations against him.

"I can't ... believe that somebody I've probably had daily dealings with and had shared conversations and interacted with would be able of something to this extreme," Tracey Gray told the Australian Broadcasting Corp.

Beyond his white nationalistic ideals, he also considers himself an environmentalist and a fascist who believes China is the nation that most aligns with his political and social values. He has contempt for the wealthiest 1 percent. And he singled out American conservative commentator Candace Owens as the person who had influenced him the most.

In a tweet, Owens responded by saying that if the media portrayed her as the inspiration for the attack, it had better hire lawyers.

Throughout the manifesto, the theme he returns to most often is conflict between people of European descent and Muslims, often framing it in terms of the Crusades.

He wrote that the episode that pushed him toward violence took place in 2017 while he was touring through Western Europe. That was when an Uzbek man drove a truck into a crowd of people in Stockholm, killing five. The Australian was particularly enraged by the death of an 11-year-old Swedish girl in the attack.

He said his desire for violence grew when he arrived in France, where he became enraged by the sight of immigrants in the cities and towns he visited.

And so he began to plot his attack. Three months ago, he started planning to target Christchurch. He claimed not to be a direct member of any organization or group, though he said he has donated to many nationalist groups. He also claimed he contacted an anti-immigration group called the reborn Knights Templar and got the blessing of Anders Breivik for the attack.

Breivik is a right-wing Norwegian extremist who killed 77 people in Oslo and a nearby island in 2011. Breivik's lawyer Oeystein Storrvik told Norway's VG newspaper that his client, who is in prison, has "very limited contacts with the surrounding world, so it seems very unlikely that he has had contact" with the New Zealand gunman.

The gunman had a long wish list for what he hoped the attack would achieve. He hoped it would reduce immigration by intimidating immigrants. He hoped to drive a wedge between NATO and the Turkish people. He hoped to further polarize and destabilize the West. And he hoped to create more conflict over gun laws in the U.S., thus leading to a civil war that would ultimately result in a separation of races.

Though he claimed not to be a Nazi, in the video he livestreamed of the shooting the number 14 is seen on his rifle. That may be a reference to the "14 Words," a white supremacist slogan attributed in part to Adolf Hitler's "Mein Kampf," according to the Southern Poverty Law Center. He also used the symbol of the Schwarze Sonne, or black sun, which "has become synonymous with myriad far-right groups who traffic in neo-Nazi," according to the center.

His victims, he wrote, were chosen because he saw them as invaders who would replace the white race. He predicted he would feel no remorse for their deaths. And in the video he livestreamed of his shooting, no remorse can be seen or heard. Instead, he simply says: "Let's get this party started."

Then he picks up his gun, storms into the mosque, and cuts down one innocent life after another.

When it is over, he climbs back into his car, where he has left his music playing — the song "Fire" by the English rock band The Crazy World of Arthur Brown. And right after the singer bellows, "I am the god of hellfire!" the gunman drives away.

Source: Fox News World

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FILE PHOTO: Small toy figures are seen in front of a displayed Huawei and 5G network logo in this illustration picture
FILE PHOTO: Small toy figures are seen in front of a displayed Huawei and 5G network logo in this illustration picture, March 30, 2019. REUTERS/Dado Ruvic

April 26, 2019

By Charlotte Greenfield

WELLINGTON (Reuters) – China’s Huawei Technologies said Britain’s decision to allow the firm a restricted role in building parts of its next-generation telecoms network was the kind of solution it was hoping for in New Zealand, where it has been blocked from 5G plans.

Britain will ban Huawei from all core parts of 5G network but give it some access to non-core parts, sources have told Reuters, as it seeks a middle way in a bitter U.S.-China dispute stemming from American allegations that Huawei’s equipment could be used by Beijing for espionage.

Washington has also urged its allies to ban Huawei from building 5G networks, even as the Chinese company, the world’s top producer of telecoms equipment, has repeatedly said the spying concerns are unfounded.

In New Zealand, a member of the Five Eyes intelligence sharing network that includes the United States, the Government Communications Security Bureau (GCSB) in November turned down an initial request from local telecommunication firm Spark to include Huawei equipment in its 5G network, but later gave the operator options to mitigate national security concerns.

“The proposed solution in the UK to restrict Huawei from bidding for the core is exactly the type of solution we have been looking at in New Zealand,” Andrew Bowater, deputy CEO of Huawei’s New Zealand arm, said in an emailed statement.

Spark said it has noted the developments in Britain and would raise it with the GCSB.

The reports “suggest the UK is following other European jurisdictions in taking a considered and balanced approach to managing supplier-related security risks in 5G”, Andrew Pirie, Spark’s corporate relations lead, said in an email.

“Our discussions with the GCSB are ongoing and we expect that the UK developments will be a further item of discussion between us,” Pirie added.

New Zealand’s minister for intelligence services, Andrew Little, did not immediately respond to a request for comment.

British culture minister Jeremy Wright said on Thursday that he would report to parliament the conclusions of a government review of the 5G supply chain once they had been taken.

He added that the disclosure of confidential discussions on the role of Huawei was “unacceptable” and that he could not rule out a criminal investigation into the leak.

The decisions by Britain and Germany to use Huawei gear in non-core parts of 5G network makes it harder to prove Huawei should be kept out of New Zealand telecommunication networks, said Syed Faraz Hasan, an expert in communication engineering and networks at New Zealand’s Massey University

He pointed out Huawei gear was already part of the non-core 4G networks that 5G infrastructure would be built on.

“Unless there is a convincing argument against the Huawei devices … it is difficult to keep them away,” Hasan said.

(Reporting by Charlotte Greenfield; Editing by Himani Sarkar)

Source: OANN

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FILE PHOTO: The logo commodities trader Glencore is pictured in Baar
FILE PHOTO: The logo of commodities trader Glencore is pictured in front of the company’s headquarters in Baar, Switzerland, July 18, 2017. REUTERS/Arnd Wiegmann

April 26, 2019

(Reuters) – Glencore shares plunged the most in nearly four months on Friday after news overnight that U.S. regulators were investigating whether the miner broke some rules through “corrupt practices”.

Shares of the FTSE 100 company fell as much as 4.2 percent in early deals, and were down 3.5 percent at 310.25 pence by 0728 GMT.

On Thursday, Glencore said the U.S. Commodity Futures Trading Commission is investigating whether the company and its units have violated some provisions of the Commodity ExchangeAct and/or CFTC Regulations.

(Reporting by Muvija M in Bengaluru)

Source: OANN

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Well, Joe Biden didn’t exactly clear the field.

I don’t think it matters much that Biden waited until yesterday to become the 20th Democrat vying for the nomination, even though it exposed him to weeks of attacks while he seemed to be dithering on the sidelines.

A much greater warning sign, in my view, is the largely negative tone surrounding his debut. He is, after all, a former vice president, highly praised by Barack Obama, who has consistently led in the early primary polls, and beating President Trump in head-to-head matchups. Yet much of the press is acting like he’s an old codger and it’s just a matter of time before he keels over politically.

This is all the more remarkable in light of the fact that the vast majority of journalists and pundits know and like Joe Biden and his gregarious personality.

The reason is that Biden, after a half-century in politics, lacks excitement, and the press is magnetically attracted to novel and unorthodox types like Beto and Mayor Pete. You don’t see Biden on the cover of Vanity Fair, and a grind-it-out win by a conventional warrior doesn’t set journalistic hearts racing.

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For many in the media, Biden isn’t liberal enough, at least not for the post-Obama era. He doesn’t promise free college and free health care and has a history of working with Republicans, such as John McCain (whose daughter Meghan loves him, and Biden will hit “The View” today.)

What’s more, Biden’s campaign style — speak at rallies, rack up union endorsements — seems hopelessly old-fashioned when we measure popularity by Instagram followers. News outlets are predicting he’ll have trouble getting in the online fundraising game, leaving him reliant on big donors, which used to be standard practice.

And then there’s the age thing. Biden would be the oldest president to be inaugurated, at 78, and he looked a step slow in encounters with reporters yesterday and a few weeks ago.

But what if the journalists are in something of a Twitter bubble, and the actual Democratic Party is much more moderate? We saw that with the spate of allegations by women of unwanted touching, which dominated news coverage until polls showed that most Dem voters weren’t concerned. In that wider world, the Scranton guy’s connection to white, working-class voters could help him against Trump in the industrial Midwest.

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Biden denounced the president’s term as an “aberrant moment” in his launch video, saying four more years would damage the country’s character and “I cannot stand by and watch that happen.”

But first, he’d have to win the nomination in the face of an unenthusiastic press corps.

A New York Times news story said Biden would be “marshaling his experience and global stature in a bid to lead a party increasingly defined by a younger generation that might be skeptical of his age and ideological moderation.”

The Washington Post quoted Democratic strategists as saying that Biden faces an “uphill battle” and “isn’t necessarily the heir apparent to Obama, despite being his No. 2 in the White House for eight years. They argue voters will judge Biden by the span of his decades-long career and are worried the veteran pol hasn’t yet found a winning formula for his own candidacy.”

The liberal Slate said the ex-veep’s rivals view him as a “paper tiger”:

“Biden is something more like a 2016 Jeb Bush: a weak establishment favorite whose time might be past … Biden’s biggest challenge in the primary will be a compromised past spanning nearly 50 years.”

“Compromised” suggests a history of scandal, yet what Slate means is political baggage, such as his backing of a Clinton-era crime bill unpopular with black voters today. Yet I think the rank and file isn’t as concerned about a vote back in 1994, or even the Anita Hill hearings, as the chattering classes.

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One of the few left-leaning pundits to suggest the press is underestimating Biden is data guru Nate Silver at 538:

“Media coverage could nonetheless be a problem for Biden. Within the mainstream media, the story of Biden winning the nomination will be seen as boring and anticlimactic. That tends not to lead to favorable coverage. Meanwhile, some left-aligned media outlets may prefer candidates who are some combination of more leftist, more wonkish, more reflective of the party’s diversity, and more adept on social media.

“If Biden is framed as being out of touch with today’s Democratic Party and that narrative is repeated across a variety of outlets, it could begin to resonate with voters who don’t buy it initially. If he’s seen as a gaffe-prone candidate, then minor missteps on the campaign trail could be blown up into big fumbles.”

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Look, it’s entirely possible that Biden could stumble, get lapped in fundraising and just be outclassed by younger and savvier rivals. He was hardly a great candidate in 1987 and in 2008.

But if the former vice president finds his footing and the field narrows, the press will be forced to change its tune, and we’ll see a spate of stories about how Joe Biden has “grown.”

Source: Fox News Politics

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South Africa's 400m Olympic gold medallist and world record holder Wayde van Niekerk looks on as he attends South African Championships in Germiston
South Africa’s 400m Olympic gold medallist and world record holder Wayde van Niekerk looks on as he attends South African Championships in Germiston, South Africa, April 25, 2019. REUTERS/Siphiwe Sibeko

April 26, 2019

GERMISTON, South Africa (Reuters) – Olympic 400 meters champion Wayde van Niekerk has backed South African compatriot Caster Semenya in her battle with the International Association of Athletics Federations (IAAF), which now appears to have taken a new twist.

Semenya, a double 800 meters Olympic gold medalist, is waiting for the outcome of her appeal to the Court of Arbitration for Sport (CAS) to halt the introduction of new regulations by governing body IAAF that would require her to take medicine to limit her natural levels of testosterone.

The IAAF wants female athletes with differences of sexual development who run in events from 400 meters to a mile, to reduce their blood testosterone level to below five (5) nmol/L for a period of six months before they can compete, saying they have an unfair advantage.

“She’s fighting for something beyond just track and field, she’s fighting for woman in sports, in society and I respect her for that,” Van Niekerk told reporters.

“I will support her and with the hard work and talent that she’s been putting into the sport. With what she believes in and what she’s dreaming for, I’ve got a lot of respect for her.

“I really hope and pray that everything just goes from strength to strength for her.”

Semenya has sprung a surprise at the on-going South African Athletics Championships though, ditching the 800 meters and instead competing over 1,500 and 5,000-metres – the latter one would not require her to medically lower her testosterone level.

She stormed to victory in the 5,000-metres final in a modest time of 16:05.97, but looked to have lots left in the tank as she passed the finish line.

Semenya beat fellow Olympian and defending national 5,000m champion Dominique Scott in Thursday’s final but the latter admitted she is unsure whether the 800m specialist could be a serious Olympic contender over the longer distance.

“Honestly‚ I have no idea‚” Scott said. “Before today I probably would have said no. It’s hard to compare a 5,000 at altitude to a 5,000 at sea level.

“But I think she’s an amazing runner and I don’t think there’s any limit or ceiling on what she can do.”

Van Niekerk, the 400m world record holder, had to abort his comeback from a knee injury, that had sidelined him for 18 months, following a combination of cold weather and a wet track.

“We are trying to take the correct decisions now early in the year so as not to put myself in any harm,” he said.

“It was a bit chilly this entire week prepping and coming through here as well it was quite cold and it caused bit of tightness in my leg. We decided to not risk it.

“My recovery is going well and I would like to be back in competition this year, but will only do so if I can deliver a good performance.

“I am a competitor and respect my opponents, so I need to be at my best when I return.”

(Reporting by Nick Said, additional reporting by Siyabonga Sishi; editing by Sudipto Ganguly)

Source: OANN

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The suspected leader of the Easter Sunday bombings in Sri Lanka died in the Shangri-La hotel, one of six hotels and churches targeted in the attacks that killed at least 250 people, authorities said.

Police said Mohamed Zahran, leader of the National Towheed Jamaat militant group, had been killed in one of the bombings. The group’s second in command was also arrested, police said.

Zahran amassed an online following for his hate-filled sermons. Some were delivered before a banner depicting the Twin Towers.

Sri Lankan authorities said Friday that Islamic cleric Mohammed Zahran died in the blast at the Shangri-La hotel during the Easter Sunday atatcks that killed at least 250 people. 

Sri Lankan authorities said Friday that Islamic cleric Mohammed Zahran died in the blast at the Shangri-La hotel during the Easter Sunday atatcks that killed at least 250 people.  (YouTube)

Australian Prime Minister Scott Morrison said Friday that the attackers responsible for the bombings were supported by the Islamic State group. Around 140 people in Sri Lanka had connections to ISIS, Sri Lankan President Maithripala Sirisena said.

“We will completely control this and create a free and peaceful environment for people to live,” he said.

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Investigators determined the attackers received military training from someone called “Army Mohideen.” They also received weapons training overseas and at some locations in Sri Lanka, according to authorities.

A copper factory operator arrested in connection with the bombings helped Mohideen make improvised explosive devices, police said. The bombings have led to increased security throughout the island nation as authorities warned of another attack.

Source: Fox News World

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