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Australian construction work digs a hole for the economy in fourth quarter

FILE PHOTO: An excavator is parked at the construction site of an apartment block in the suburb of Epping, Sydney
FILE PHOTO: An excavator is parked at the construction site of an apartment block in the suburb of Epping, Sydney, Australia February 1, 2019. REUTERS/Tom Westbrook/File Photo

February 27, 2019

By Wayne Cole

SYDNEY (Reuters) – Construction spending in Australia took a surprise spill last quarter as infrastructure came off the boil and home building hit a one-year low, a disappointing result that adds to signs of a struggling economy.

It was the second straight quarter of sharp falls and challenges the dogged optimism of the Reserve Bank of Australia (RBA) that growth will pick up this year.

The value of construction work done slid 3.1 percent in the December quarter, data from the Australian Bureau of Statistics showed. That badly missed forecasts of a 0.4 percent gain and followed a 3.6 percent drop in the previous quarter.

Total spending was an inflation adjusted A$51.1 billion ($36.69 billion), the lowest since early 2017 and, on paper at least, equal to around 0.3 percentage points off gross domestic product (GDP) in the quarter.

“It suggests some slight downside risk to our preliminary GDP forecast,” said Kaixin Owyong, an economist at NAB.

The GDP report for the December quarter is due on March 6 and NAB had already been tipping pedestrian growth of 0.4 percent in the quarter, giving 2.7 percent for the year.

Home building was a major drag as sliding house prices and tighter lending conditions put the screws on developers, particularly for apartments.

As a result residential construction sank 3.6 percent in the quarter and the outlook is for more pain as approvals for new building have tumbled in recent months.

“We expect the residential construction downturn will be much deeper than the RBA’s outlook,” said Owyong, who expects a decline of around 18 percent peak-to-trough.

“Today’s figures support this less optimistic view for building activity.”

The RBA acknowledged the faster downturn in building earlier this month when it cut forecasts for economic growth this year and next.

Yet its latest prediction of 3 percent growth in 2019 already looked in jeopardy, with spending on public works taking an unexpected nose dive.

Work done on infrastructure dropped 10 percent last quarter alone, a major surprise given state government have been splashing out on multi-year road and rail projects.

“Possibly bottlenecks are a constraint or it may have been weather disruptions,” said Westpac senior economist Andrew Hanlan.

“Given the sizeable amount of work yet to be done and with new projects being added to the investment pipeline, we still expect public works to add to activity in 2019.”

Westpac, however, was bearish on the overall economic outlook having recently predicted the RBA would be forced to cut interest rates twice this year, from an already record-low of 1.5 percent.

Investors are also leaning that way with futures markets implying around an 80 percent probability of an easing by year end.

(Reporting by Wayne Cole; Editing by Sam Holmes)

Source: OANN

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Benedict says Vatican legal system protected accused clergy

Emeritus Pope Benedict XVI says in a new document that protections built into the Vatican's legal protections worked in favor of clergy accused of sex abuse to the point of making a conviction "nearly impossible" in past decades.

Corriere della Sera on Thursday quoted from the 18-page document titled "The Church and the sex abuse scandal," which was published by the German monthly Klerusblatt. The diocesan association was unable to provide a copy of the original text.

Benedict wrote that during the 1980s and 1990s, "the right to a defense was so broad as to make a conviction nearly impossible."

Benedict took a hard line against clerical sex abuse as the Vatican's conservative doctrine chief, and later as pope, defrocking hundreds of priests accused of raping and molesting children.l

Source: Fox News World

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Campbell Soup reports 2nd quarter loss

The logo and ticker for Campbell Soup Co. are displayed on a screen on the floor of the NYSE in New York
The logo and ticker for Campbell Soup Co. are displayed on a screen on the floor of the New York Stock Exchange (NYSE) in New York, U.S., May 18, 2018. REUTERS/Brendan McDermid

February 27, 2019

CHICAGO (Reuters) – Campbell Soup Co on Wednesday reported a quarterly loss, hurt by impairment charges of $346 million for its struggling fresh food business.

Camden, New Jersey-based Campbell said net sales rose about 24 percent to $2.71 billion in the second quarter ended Jan. 27, helped by the acquisitions of Snyder’s-Lance and Pacific Foods.

(Reporting by Richa Naidu; Editing by Chizu Nomiyama)

Source: OANN

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White House rips Omar for calling Stephen Miller a ‘white nationalist,’ highlights her ‘history of anti-Semitic comments’

The White House on Wednesday slammed Rep. Ilhan Omar, D-Minn., for calling White House adviser Stephen Miller a white nationalist, describing her remarks as “completely ignorant” and accusing her of “wildly” attacking a Jewish member of the administration.

“Congresswoman Ilhan Omar has a well-documented history of anti-Semitic comments, social media posts and relationships – so it’s not surprising that she would wildly attack a Jewish member of the Administration,” Deputy Press Secretary Hogan Gidley said in a statement.

CRENSHAW CALLS OUT OMAR FOR DESCRIBING 9/11 ATTACKS AS 'SOME PEOPLE DID SOMETHING'

“It is completely ignorant to slander a Jewish man as a White Nationalist, and it dishonors the Jewish victims of anti-Semitic persecution across the globe.” he said.

Omar had sparked controversy Monday when she branded Miller, known for his hardline views on immigration, a white nationalist and said that “the fact that he still has influence on policy and political appointments is an outrage.”

Her remarks came after the resignation of Department of Homeland Security Secretary Kirstjen Nielsen, and a Wall Street Journal report that said Trump had told Miller “you’re in charge” of the administration’s immigration policy

Omar has her own history of controversy, particularly relating to her criticism of Israel and U.S. support of the Middle East democracy. In March she suggested that supporters of Israel were pushing for U.S. politicians to declare "allegiance" to that nation.

“I want to talk about the political influence in this country that says it is OK for people to push for allegiance to a foreign country," Omar said. "I want to ask why is it OK for me to talk about the influence of the NRA, of fossil fuel industries, or big pharma, and not talk about a powerful lobbying movement that is influencing policy?"

TRUMP SAYS DEMS HAVE LET ANTI-SEMITISM 'TAKE ROOT' IN THEIR PARTY

That came after she apologized for suggesting in February that some members of Congress were being paid by the American Israel Public Affairs Committee (AIPAC) to support Israel: “It’s all about the Benjamins baby,” she tweeted.

President Trump has repeatedly criticized Omar and,  speaking to the Republican Jewish Coalition (RCJ) on Saturday, “thanked” her and then feigned surprise when the audience booed the reference.

“Oh, oh, I forgot, she doesn’t like Israel, I forgot, I’m so sorry, no, she doesn’t like Israel, does she?” he said.

On Tuesday, he quoted strategist Jeff Ballabon, who said it was unacceptable for Omar to “target Jews, in this case Stephen Miller.”

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Asked by reporters on Wednesday about Miller, Trump called him a “brilliant man” but added that there’s “only one person that’s running [immigration policy].”

“You know who that is? It’s me,” he said.

Fox News' Blake Burman contributed to this report

Source: Fox News Politics

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Red Cross visits to Venezuela jails include military prisons

The International Committee of the Red Cross has regained access to prisons in Venezuela, including highly guarded military facilities where dozens of inmates considered political prisoners are being held, as President Nicolas Maduro seeks to counter mounting criticism of his government's human rights record.

The fact that the visits include military prisons, which hadn't been previously reported, was confirmed to The Associated Press by a human rights lawyer and family members of those detained.

International Red Cross President Peter Maurer on Wednesday wraps up a five-day visit to Venezuela, where the Geneva-based group is among international organizations trying to carve out a space to deliver badly needed humanitarian aid and technical assistance free of the winner-take-all politics contributing to the country's turmoil.

Red Cross representatives visit prisons every year in more than 100 countries, following an established protocol allowing it to verify conditions of confinement and hold private conversations with inmates in which they can voice complaints and send messages to loved ones.

But the group had been denied access in Venezuela at least since 2012.

The renewed visits in Venezuela began March 11 when a Red Cross delegation visited a model prison in Caracas, the Simon Bolivar Center for the Formation of New Men. Eighty-seven foreigners are being held.

But more significant was the visit two weeks later to the military-run Ramo Verde prison outside Caracas, which holds 69 people the opposition considers political prisoners.

Sandra Hernandez, whose husband, Sgt. Luis Figueroa, has been jailed at Ramo Verde since January for leading a military uprising against Maduro, was present last week when a white-colored vehicle emblazoned with the international Red Cross' logo pulled up to the prison entrance.

She was there for her once-a-week visit, delivering basic staples — pasta, rice and cheese — that have become harder to afford since she was fired from her $7-a-month job as a teacher in what she said was retaliation for her husband's opposition to the government.

She said that if not for remittances sent by a relative in Spain, her husband could starve on the scant rations provided by prison authorities.

While her husband told her he wasn't among the small group of prisoners allowed to speak with the Red Cross representatives, she was hopeful the visit would help improve dire conditions for all inmates, many of whom she said are suffering from lack of medical attention and claim to have been tortured. The AP was unable to independently verify those claims.

"It's very important they talk to prisoners and see firsthand what's happening inside," she said.

Red Cross officials declined to comment and the group has made little mention of the prison visits, saying only in a Tweet that it had begun visiting jails under the auspices of civilian penitentiary authorities. It made no mention of the visits to the military-run facilities. The organization commonly avoids describing such visits except in a "confidential dialogue" with officials

Prisons Minister Iris Varela has said the visit to the civilian facility, and others to come, were part of an effort to share with the world Venezuela's positive experience rehabilitating inmates.

Left unsaid by both sides was that the Red Cross had also secured access to military detention facilities.

The majority of people held at the Ramo Verde are military personnel accused of plotting to overthrow Maduro. Many more, including five oil executives with U.S. passports, are being held in the basement jail of the military counterintelligence headquarters in the capital.

"This is an important first step, but make no mistake, it's also an attempt by Maduro to gain legitimacy with the international community," said Alfredo Romero, a human rights lawyer who was told of the Red Cross visit by prison workers when trying to visit clients at Ramo Verde. "It's not in itself going to change the government's willingness to improve conditions."

A senior government official played down the significance of the Red Cross visits, describing them as part of a broader push to work more closely with several international agencies, including the World Food Program and the Pan American Health Organization. The official spoke on condition of anonymity due to lack of authorization to discuss those talks publicly.

The international Red Cross' sister organization, the International Federation of Red Cross and Red Crescent Societies, recently said it had received a waiver from Maduro to deliver aid to some 650,000 people in Venezuela beginning this month. Maduro has long denied a humanitarian crisis, considering aid offers a "Trojan horse" to pave the way for a foreign military intervention.

Similarly, opposition leader Juan Guaidó, who is recognized by 50 nations as Venezuela's rightful leader, has tried to control the distribution of U.S.-supplied aid in a bid to weaken Maduro's grip on power.

In another attempt to counter growing criticism, Maduro last month welcomed a delegation sent by the United Nations' High Commissioner for Human Rights. He previously had called such visits a politically biased threat to Venezuela's sovereignty.

___

Associated Press writer Joshua Goodman reported this story in Caracas and AP writer Jamey Keaten reported from Geneva.

Source: Fox News World

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Beto haunted by past on campaign trail, despite controversial RNC tweet

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Developing now, Monday, March 18, 2019

BETO FEELS THE HEAT ON CAMPAIGN TRAIL AS RNC TWEET FALLS FLAT: Democratic presidential candidate Beto O'Rourke vowed Sunday that nothing from his questionable past will sidetrack his campaign ... On the campaign trail in Wisconsin, denied he'd ever taken the drug LSD and vowed to stop using profanities, particularly the F-word, especially in front of kids. The Republican National Committee sparked an uproar when it attempted to capitalize on O'Rourke's past transgressions by tweeting his 1998 drunken driving mugshot - with a photoshopped leprechaun hat atop - that read "Please drink responsibly." Fellow Republicans slammed the tweet as insensitive, especially since it was St. Patrick's Day.

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WHITE HOUSE DISTANCES TRUMP FROM NEW ZEALAND MASSACRE: Acting White House Chief of Staff Mick Mulvaney on Sunday defended President Trump against any attempts to link him to last Friday's terror attack on two New Zealand mosques that left 50 people dead ... In an interview on "Fox News Sunday," Mulvaney said Trump is not a white supremacist and it was unfair to characterize the New Zealand gunman arrested in the attack as a Trump supporter.

A FAILED 'POLITICAL STUNT': The top Republican on the House Judiciary Committee voted for the resolution calling for any final report in Special Counsel Robert Mueller’s Russia investigation to be made public, but told Fox News on Sunday it was unnecessary -- because it was a failed attempt by Democrats to divide the GOP ... “It was a political stunt by the Democrats who felt that they could divide Republicans into voting no upon it," said Rep. Doug Collins, R-Ga., on "Sunday Morning Futures." The largely symbolic, Democratic-backed resolution, which passed 420-0, came as Mueller appears to be nearing an end to his investigation.

FILE - In this Aug. 13, 2017 file photo, actress Lori Loughlin, center, poses with her daughters Bella, left, and Olivia Jade at the Teen Choice Awards in Los Angeles. The FBI says actress Lori Loughlin has been taken into custody in connection with a scheme in which wealthy parents paid bribes to get their children into top colleges. FBI spokeswoman Laura Eimiller said Loughlin was in custody Wednesday morning in Los Angeles. She is scheduled to appear in court there in the afternoon. (Photo by Jordan Strauss/Invision/AP, File)

FILE - In this Aug. 13, 2017 file photo, actress Lori Loughlin, center, poses with her daughters Bella, left, and Olivia Jade at the Teen Choice Awards in Los Angeles. The FBI says actress Lori Loughlin has been taken into custody in connection with a scheme in which wealthy parents paid bribes to get their children into top colleges. FBI spokeswoman Laura Eimiller said Loughlin was in custody Wednesday morning in Los Angeles. She is scheduled to appear in court there in the afternoon. (Photo by Jordan Strauss/Invision/AP, File)

WHY THE COLLEGE ADMISSIONS SCANDAL WAS INEVITABLE: One noted higher education critic says the widespread college admissions scandal that rocked the nation last week was bound to happen, simply because of the elitist nature and power structure of prestigious universities ... "The celebrity college-admissions cheating scandal has two clear takeaways: an elite college degree has taken on wildly inflated importance in American society, and the sports-industrial complex enjoys wildly inflated power within universities." writes Heather Mac Donald, contributing editor of City Journal in a piece appearing on FoxNews.com. "None of this could have happened if higher education had not itself become a corrupt institution, featuring low classroom demands, no core knowledge acquisition, low grading standards, fashionable (but society-destroying) left-wing activism, luxury-hotel amenities, endless partying, and huge expense." Meanwhile, actress Lori Loughlin's humble-bragging about money spent on daughter Olivia Jade’s education appears to have come back to haunt her.

DEVELOPMENT OF BOEING'S 737 MAX UNDER SCRUTINY: Federal prosecutors and Department of Transportation officials are examining the development of Boeing Co.’s 737 MAX jetliners, the Wall Street Journal reports ... At least one person involved in the 737 MAX's development, the Journal reports, was issued a broad subpoena by a Washington, D.C. grand jury on March 11, the day after the Ethiopian Airlines crash that killed all 157 people on board.


THE SOUNDBITE

BEWARE OF BETO -  "Take it from me as someone who has worked at the highest levels of government and politics. The most important thing about a candidate is not their promises - those hardly ever get delivered anyway. It's about how they would respond to unpredictable future events. And that's about their character. Whatever else people knew about Donald Trump going into 2016, it was obvious he was strong. He said what he thought, no matter who it offended. But Beto O'Rourke says whatever people want to hear." – Steve Hilton, on "The Next Revolution," on why he believes Beto O'Rourke is a dangerous 2020 candidate. (Click the image above to watch the full video.)

TODAY'S MUST-READS
Howard Kurtz addresses Judge Jeanine's absence from Fox News Channel.
OPINION: There aren’t enough billionaires in the world to pay for AOC, Beto, and Bernie’s socialist proposals.
Michael Goodwin: We’re nowhere near a solution on the immigration crisis.

MINDING YOUR BUSINESS
U.S.-China trade: How a deal with Beijing could be enforced.
Deutsche Bank, Commerzbank go public on merger talks.
Report: Toronto Blue Jays to boost pay for minor leaguers.

STAY TUNED

On Fox Nation:

Catching El Chapo
A top DEA agent's shocking tell-all about the three-decade long hunt for the world's most notorious drug lord. Watch a preview now.
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On Fox News:

Fox & Friends, 6 a.m. ET: Is a $5 billion investment in a border wall peanuts compared to what illegal immigration costs America? Plus, March Madness, 2020 edition: The 2020 Democratic presidential hopefuls are put in brackets. Special guests include: Kellyanne Conway, counselor to President Trump.

Special Report, 6 p.m. ET: An interview with Homeland Security Secretary Kirstjen Nielsen.

The Ingraham Angle, 10 p.m. ET: Ben Carson, Secretary of H.U.D.; Ben Shapiro, editor-in-chief of The Daily Wire; Glenn Greenwald, co-founder of The Intercept.

Fox News @ Night, 11 p.m. ET: Jair Bolsonaro, president of Brazil, gives a must-see interview.

On Fox Business:

Mornings with Maria, 6 a.m. ET: Special guests include: John Boehner, former Speaker of the House.

Varney & Co., 9 a.m. ET: Special guests include: Naomi Schaefer Riley, resident fellow at the American Enterprise Institute.

Countdown to the Closing Bell with Liz Claman, 3 p.m. ET: Joe Loomis, founder of CyberSponse, Inc. and Russell Holly, managing editor of Mobile Nations.

On Fox News Radio:

The Fox News Rundown podcast: "New Zealand Gun Debate Heats Up After Shooting" - New Zealand's prime minister has promised changes to the country's gun laws following last week's mass shooting. Fox News' Jacqui Heinrich discusses  the gun debate there and how social media giants were slow to stop images of the tragedy from going viral. Democrat media standout Beto O'Rourke announced his run for president and while there are more hints at a Joe Biden run, it's not official yet. Democratic strategist Mary Anne Marsh discusses these two candidates and whether or not they pose a threat to President Trump. Plus, commentary by Judge Andrew Napolitano, Fox News senior judicial analyst.

Want the Fox News Rundown sent straight to your mobile device? Subscribe through Apple Podcasts, Google Play, and Stitcher.

The Brian Kilmeade Show, 9 a.m. ET: The aftermath of the New Zealand terror attack, the latest in the 2020 presidential race and President Triump's controversial comments over the weekend on the infamous dossier and Sen. John McCain will the topics of discussion with House Minority Leader Kevin McCarthy, New York Post columnist Michael Goodwin, Shannon Bream, host of "Fox News @ Night," Bret Baier, host of "Special Report," and A.B. Stoddard, RealClearPolitics associate editor.

The Todd Starnes Show, Noon ET: Todd speaks with Indiana Attorney General Curtis Hill about why he believes President Trump’s national emergency declaration is legally sound and attorney Andrea Shaw about a new case dealing with gender identity.

#TheFlashback

2005: Doctors in Florida, acting on orders of a state judge, remove Terri Schiavo's feeding tube. (Despite the efforts of congressional Republicans to intervene and repeated court appeals by Schiavo's parents, the brain-damaged woman would die on March 31, 2005, at age 41.)

1980: Frank Gotti, the 12-year-old youngest son of mobster John Gotti, is struck and killed by a car driven by John Favara, a neighbor in Queens, N.Y. (The following July, Favara vanishes, the apparent victim of a gang hit.)

1965: The first spacewalk takes place as Soviet cosmonaut Alexei Leonov goes outside his Voskhod 2 capsule, secured by a tether.

Fox News First is compiled by Fox News' Bryan Robinson. Thank you for joining us! Have a good Monday! We'll see you in your inbox first thing Tuesday morning.

Source: Fox News National

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Hundreds protest in Sudan after Friday prayers

FILE PHOTO: Sudanese demonstrators run from a teargas canister fired by riot policemen to disperse them as they participate in anti-government protests in Omdurman, Khartoum
FILE PHOTO: Sudanese demonstrators run from a teargas canister fired by riot policemen to disperse them as they participate in anti-government protests in Omdurman, Khartoum, Sudan January 20, 2019. REUTERS/Mohamed Nureldin Abdallah/File Photo

February 22, 2019

KHARTOUM (Reuters) – Security forces fired teargas to disperse hundreds of protesters who marched and chanted anti-government slogans following Friday prayers at a major mosque near the Sudanese capital, eyewitnesses said.

The demonstration in the city of Omdurman outside Al-Sayed Abd al-Rahman al-Mahdi mosque, which has ties to the opposition Umma party, was the latest in what have become near-daily protests in Sudan since Dec. 19.

Protesters chanted “the revolution is the choice of the people” and “fall, that’s it”, to express that their only demand is the end of President Omar al-Bashir’s rule.

The demonstrations were triggered by price increases and cash shortages but have developed into the most sustained challenge to Bashir since he took power three decades ago.

Activists say nearly 60 people have been killed during two months of protests, while authorities put the death toll at 32, including three security personnel.

Security forces have used tear gas and live bullets to disperse protesters, and have arrested people including opposition party members, activists and journalists.

Bashir is wanted by the International Criminal Court over charges of masterminding genocide in the Darfur region, which he denies. He has been lobbying for Sudan to be removed from a list of countries Washington deems state sponsors of terrorism.

The listing has blocked the investment and financial aid that Sudan was hoping for when the United States lifted sanctions in 2017, economists say.

Sudan has been rapidly expanding its money supply in an attempt to finance its budget deficit, causing spiraling inflation and a steep decline in the value of its currency.

(Reporting by Khalid Abdelaziz; Writing by Lena Masri; Editing by Frances Kerry)

Source: OANN

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A worker walks on the roof of a new home under construction in Carlsbad
FILE PHOTO: A worker walks on the roof of a new home under construction in Carlsbad, California September 22, 2014. REUTERS/Mike Blake

April 26, 2019

NEW YORK (Reuters) – The U.S. economy is growing at a 2.08% annualized pace in the second quarter based on upbeat data on durable goods orders and new home sales in March, the New York Federal Reserve’s Nowcast model showed on Friday.

This was faster than the 1.92% growth rate calculated by the N.Y. Fed model the week before.

(Reporting by Richard Leong; Editing by Chizu Nomiyama)

Source: OANN

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Extraordinary European Union leaders summit in Brussels
FILE PHOTO: Italian Prime Minister Giuseppe Conte arrives at an extraordinary European Union leaders summit to discuss Brexit, in Brussels, Belgium April 10, 2019. REUTERS/Yves Herman

April 26, 2019

(Reuters) – Italian Prime Minister Giuseppe Conte said on Friday he had assured China’s Huawei Technologies that it would not face discrimination in the rollout of Italy’s 5G telecoms network.

Conte was speaking on a visit to China where he said he met Huawei’s chief executive, Ren Zhengfei. The prime minister’s comments were carried in Italy by TV broadcaster Sky Italia.

“I told him that we have adopted some precautions, some measures to protect our interests that demand very high levels of security … not only from Huawei but any company entering into the 5G arena,” he said.

Huawei, the world’s biggest producer of telecoms equipment, is under intense scrutiny after the United States told allies not to use its technology because of fears it could be a vehicle for Chinese spying. Huawei has categorically denied this.

(Writing by by Mark Bendeich; Editing by Angelo Amante)

Source: OANN

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U.S. President Trump departs for travel to Indianapolis from the White House in Washington
U.S. President Donald Trump talks to reporters as he departs for travel to Indianapolis, Indiana from the White House in Washington, U.S., April 26, 2019. REUTERS/Jonathan Ernst

April 26, 2019

WASHINGTON (Reuters) – President Donald Trump on Friday was expected to announce his intention to revoke the United States’ status as a signatory of the Arms Trade Treaty, which was signed in 2013 by then-President Barack Obama but never ratified by Congress, two U.S. officials said.

Trump was expected to announce the decision in a speech in Indianapolis, to the National Rifle Association, the officials said. The NRA, a powerful gun lobby group, has long been opposed to the treaty, which was negotiated at the United Nations.

(Reporting By Steve Holland; Editing by Bill Trott)

Source: OANN

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A remote controlled robot for the 'Isotopium: Chernobyl' game is seen at the game's location in Brovary
A remote controlled robot for the ‘Isotopium: Chernobyl’ game is seen at the game’s location in Brovary, Ukraine April 25, 2019. REUTERS/Valentyn Ogirenko

April 26, 2019

By Margaryta Chornokondratenko

KIEV (Reuters) – A Ukrainian computer game that brings to life a town abandoned after the Chernobyl nuclear disaster may not sound like everyone’s idea of fun but has attracted 60,000 people globally since its launch in October.

Players of “Isotopium: Chernobyl” drive tanks around the ghost town of Prypyat near Chernobyl, knocking out competitors as they search for an energy source called isotopium and collecting points every time they find some.

While the game takes its theme from the nuclear disaster at Chernobyl in northern Ukraine, which marked its 33rd anniversary on Friday, it was also inspired by the 2009 science fiction film “Avatar”.

Newcomers to the game think they have entered a virtual world when in fact they are controlling a real robot, equipped with a camera and computer, which makes its way around a model of the town rendered down to the tiniest detail.

“When playing our game, for the first 5-10 minutes many players don’t understand that it is not fictional,” said the game’s co-founder Sergey Beskrestnov. “They message us saying: ‘You have cool texture, you have good graphics, your designer is good, well done. You have a cool operating system.’

“People then reply: ‘It is not an operating system, it is real,’ and the player can’t believe it is real,” said Beskrestnov, speaking mid-game from Prypyat city square as he towers over surrounding five-storey buildings.

Kiev-born Beskrestnov was just 12 years old when on April 26, 1986 a botched test at the nuclear plant in the then Soviet Union sent clouds of smoldering nuclear material across large swathes of Europe, forced over 50,000 people, including Beskrestnov’s family, to evacuate and poisoned unknown numbers of workers involved in its clean-up.

Beskrestnov and his partner Alexey Fateyev used Google maps and hundreds of pictures from the Chernobyl area to recreate Prypyat landmarks, including residential buildings, a hotel, concert hall, amusement park and a stadium.

The game’s real-scale model occupies a 180 square meter (1,938 sq. ft) basement of a residential building in the Ukraine city of Brovary, just 150 km (93 miles) from the Chernobyl Exclusion Zone and 30 km east of Kiev.

Miniature radioactivity warning signs, graffiti on the walls of abandoned buildings and tables and chairs left scattered inside a small cafe all add to the creepy atmosphere of a once lively town.

“It’s a really neat concept …,” Shaun Prescott wrote in a review of the game published by PC Gamer magazine in January. “Controlling the tanks is kinda cumbersome, but they are tanks, after all.”

An attentive player will notice at least one inaccuracy – the real Chernobyl nuclear power plant is not located in town as it is in the game.

It costs $9 to immerse in the atmosphere of a post-apocalyptic town for an hour but only 20 people at a time can play simultaneously. Beskrestnov’s company, Remote Games, said 62,615 people around the world have registered to play the game, including around 15,000 in France and 10,000 in the United States.

A camera fixed on top of a moving tank broadcasts high quality signal in real time, allowing players from as far apart as Australia and Canada enjoy the game without facing any time delay in delivering video signals.

Its creators next ambition is to devise a game featuring the colonization of Mars in which 1,000 people will be able to simultaneously control robots on different missions involved in the operation.

“Many people advise us to contact Elon Musk directly because it resonates his dreams and ideas,” Beskrestnov jokes.    

(Editing by Susan Fenton)

Source: OANN

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FILE PHOTO: A Starbucks sign is show on one of the companies stores in Los Angeles, California
FILE PHOTO: A Starbucks sign is show on one of the companies stores in Los Angeles, California, U.S. October 19,2018. REUTERS/Mike Blake/File Photo

April 26, 2019

(Reuters) – Initial optimism over first-quarter results from Starbucks Corp was waning fast on Wall Street on Friday, as analysts questioned the longer-term prospects of its new sales push given subdued overall customer traffic numbers especially in China.

The company on Thursday beat brokerage estimates for quarterly same-store sales on the back of demand for its new Cloud Macchiato, Matcha tea and cold brews in the United States.

However, BTIG’s Peter Saleh was one of a number of sector analysts who said while customers forking out for higher-priced new drinks had helped drive growth in same-store sales, “anemic” traffic at cafes remained a concern.

He and others pointed to a 1 percent decline in footfall at cafes in the Chinese market, viewed as crucial to the chain’s growth for the foreseeable future.

More broadly, transaction numbers, the substitute analysts use for customer traffic, were unchanged in all three of the company’s global regions.

Shares in the company, which hit a record high after the results on Thursday, fell 1 percent in morning trade.

“We remain cautious given near-term headwinds surrounding China, including cannibalization, increasing competition (and) a slowing economy,” Wedbush analyst Nick Setyan said.

Starbucks has also poured money into beefing up its delivery network in China as it battles with local startup Luckin Coffee, whose speedy growth led it to file for an IPO in the United States earlier this week.

New menu items and partnerships with delivery services, the heart of the company’s strategy to win back customers lost to artisanal coffee shops and cheaper fast-food rivals, did help Starbucks’ sales in its home market.

However, analysts said growth in China may continue to be subdued.

Wells Fargo analyst Bonnie Herzog said she expects store expansion in China to take priority over comparable sales growth.

She downgraded her rating on Starbucks’ to “market perform” from “outperform”, arguing that the company facing tough sales comparisons later on in 2019 from last year and the current rich valuation of shares meant the stock had limited room to rise.

“Investors will be hesitant to invest new money in a stock with a topline that, while still strong, is unlikely to meaningfully accelerate,” Herzog said.

Still, the company’s solid same-store growth in the United States, improving profit margins and a lower tax rate for the rest of the year led at least 6 Wall Street brokerages to raise their price targets on the stock to as high as $81.

11 of 29 brokerages rate Starbucks “buy” or higher, 17 “hold” and 1 “sell” or lower. Their median price target is $75.

(Reporting by Uday Sampath in Bengaluru)

Source: OANN

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