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Ex-trucking company CFO charged in $245 million stock scheme

The fired chief financial officer of a former Wisconsin-based trucking company was arrested Wednesday and charged as part of an ongoing federal probe into what authorities say was a complex $245 million stock scam.

Peter Armbruster, 60, of Milwaukee turned himself in Tuesday, a day after a 19-count superseding indictment against him and two former Roadrunner Transportation Systems Inc. controllers was unsealed, the Journal Sentinel reported.

The two other men, Bret Naggs and Mark Wogsland, were arrested in their suburban Milwaukee homes last summer after they were indicted.

The new 19-count indictment charges the men with conspiracy, securities fraud, wire fraud, bank fraud and attempting to influence auditors to falsify the company's books in order to artificially inflate the firm's earnings.

Andrew DeVooght, Armbruster's attorney, said his client "is not guilty of any of the allegations in the indictment and he looks forward to the opportunity to prove his innocence."

Attorneys for Naggs and Wogsland did not return calls to the newspaper for comment.

The indictment states that from 2013 to 2017, the three men and others "agreed to defraud Roadrunner's shareholders, lenders and the investing public" by employing several schemes including concealing "millions of dollars in misstated accounts at several operating companies."

Roadrunner was based in Cudahy, Wisconsin, until 2017 when it moved to the Chicago area. Its financial problems were discovered shortly before its move when the company fired top executives and restated its financial results, which drove the stock price down, costing shareholders about $245 million.

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Information from: Milwaukee Journal Sentinel, http://www.jsonline.com

Source: Fox News National

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Violence in some areas of Colombia has worsened since peace deal, Red Cross says

Christoph Harnisch, head of the International Committee of the Red Cross (ICRC) delegation in Colombia, poses for a photo after a news conference in Bogota
Christoph Harnisch, head of the International Committee of the Red Cross (ICRC) delegation in Colombia, poses for a photo after a news conference in Bogota, Colombia March 28, 2019. REUTERS/Luisa Gonzalez

March 28, 2019

BOGOTA (Reuters) – Violence in some regions of Colombia has worsened significantly since the 2016 signing of a peace deal with Marxist rebels, the International Committee of the Red Cross (ICRC) said on Thursday.

Problems include mass displacements and injuries from landmines, as a power vacuum created by the demobilization of the Revolutionary Armed Forces of Colombia (FARC) left smaller armed groups fighting for control of the lucrative drug trade.

Improving the situation will require a robust response from all parts of the government, the ICRC said, including the provision of basic services to the most deprived areas.

The FARC, the country’s largest rebel group, demobilized after signing an accord in late 2016 with the government to end more than five decades of war.

But implementation of the deal has been fraught. President Ivan Duque, who took office last year, has criticized it for being too lenient on rebels and is asking Congress to approve changes to a tribunal meant to try guerrillas for war crimes.

And conflict continues between the government, FARC members who refused to demobilize, the smaller ELN rebel group and crime gangs, the ICRC said.

Conditions are especially bad in provinces like Choco, Cauca, Arauca and Norte de Santander, where armed groups are fighting for control of drug trafficking routes and coca plantations.

“These civilian populations are in a more difficult situation than before,” ICRC delegation head Christoph Harnisch told journalists. “Peace did not reach these areas.”

Those battles meant mass displacement increased by more than 90 percent last year, affecting 27,780 people, the organization said.

The number of land mine victims, more than half of whom were civilians, climbed last year by more than 280 percent to 221 people, the ICRC said. Thirty-one died of their injuries.

Duque’s government will need to bring more state resources to bear in these areas to improve the situation, Harnisch said, citing the need for health centers and other services.

“The answer cannot just be one of security – the answer must be from all of the government,” he said.

The arrival of more than 1 million Venezuelan migrants, fleeing food shortages and an ongoing political crisis in their country, has put additional pressure on deprived areas, he said.

Migrants are especially vulnerable to extortion or forced recruitment by armed groups and need access to healthcare and utilities.

“The response (to Venezuelan migration) up to now has been very generous, but it needs more structure and a more long-term strategy,” Harnisch said.

(Reporting by Julia Symmes Cobb; Editing by Helen Murphy and Rosalba O’Brien)

Source: OANN

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House rejects Trump emergency declaration, setting up potential veto showdown

Democrats on Tuesday pushed unprecedented legislation through the House to block President Trump's national emergency declaration to steer billions of extra dollars to his southern border wall, raising the prospect that Trump might issue his first-ever veto to defeat the effort.

Monday's vote marked the first time the House or Senate has tried to terminate a presidential declaration of a national emergency, using the provisions of the National Emergencies Act of 1976. Former Rep. George Miller, D-Calif., attempted a similar effort regarding a national emergency declared by then-President George W. Bush, but the measure never came to a vote on the House floor.

Should enough Republicans in the GOP-controlled Senate defect and support the House bill, a two-thirds supermajority in both the Senate and House would be needed to override Trump's veto. The White House issued a formal veto threat Tuesday ahead of the House vote, ramping up pressure on Republicans to hold the line.

It took President George W. Bush more than five years before he used his veto, and President Barack Obama only 11 months. For President Bill Clinton, it took two and a half years.

With three Senate Republicans saying they would support the legislation, only one more was needed to vote with all the Democrats to pass the measure and send it to Trump.

House Democrats have aimed to block the national emergency declaration that President Trump issued last week to fund his long-sought wall along the U.S-Mexico border, setting up a fight that could result in Trump's first-ever veto. (AP Photo/Alex Brandon)

House Democrats have aimed to block the national emergency declaration that President Trump issued last week to fund his long-sought wall along the U.S-Mexico border, setting up a fight that could result in Trump's first-ever veto. (AP Photo/Alex Brandon)

"When you see the vote today there will be nowhere near the votes to override a veto," House GOP Whip Steve Scalise, R-La., told reporters.

Even many GOP lawmakers who have viewed themselves as protectors of Congress' power of the purse said they would defer to Trump in this case, saying he has the authority under a mid-1970s statute.

"They love Trump in my district," said Rep. Billy Long, R-Mo. "I'm for Trump."

CROWD OF FOUR PEOPLE HOLDS PRO-TRUMP, PRO-WALL RALLY IN SAN FRANCISCO

Democratic leaders said the vote was not about the merits of Trump's wall but how Trump was trampling on the Constitution by grabbing money that he couldn't obtain through the usual means.

House Speaker Nancy Pelosi, D-Calif., said Trump's action "steals billions of dollars" from military construction projects— including, possibly, family housing and child care centers — to build the wall along the Mexico border.

Republicans have countered that problems with drug runners and human trafficking gave merit to Trump's maneuver.

"I went down there neutral on this question, didn't know whether or not I'd support a national emergency," said Rep. Adam Kinzinger, R-Ill., who recently returned from a National Guard deployment along the border in Arizona. "And, I came back more convinced than probably anybody that this is the right thing to do."

Senate Minority Leader Chuck Schumer of N.Y., seen here on Tuesday, said Trump was trying to "bend the law" with his declaration of a national emergency on the southern border. (AP Photo/Manuel Balce Ceneta)

Senate Minority Leader Chuck Schumer of N.Y., seen here on Tuesday, said Trump was trying to "bend the law" with his declaration of a national emergency on the southern border. (AP Photo/Manuel Balce Ceneta)

"If Republicans vote their beliefs, we'll get a lot. If they vote their party, we won't get a lot," said House Majority Leader Steny Hoyer, D-Md.

Trump on Monday urged Senate Republicans to stick with him.

"I hope our great Republican Senators don't get led down the path of weak and ineffective Border Security," Trump tweeted. "Without strong Borders, we don't have a Country — and the voters are on board with us. Be strong and smart, don't fall into the Democrats 'trap' of Open Borders and Crime!"

TRUMP'S BORDER WALL PROTOTYPES TO COME DOWN

Vice President Mike Pence discussed the issue with GOP senators during their weekly private lunch. In a statement after the sit-down, South Carolina Republican Sen. Lindsey Graham accused Democrats of hypocritically changing their mind about realities on the southern border.

“We had a great presentation from Vice President Pence and his team regarding the emergency declaration and the need for additional spending to protect our southern border," Graham said. "The Vice President made a compelling case that the border crisis is real and President Trump has both the authority and legal backing to declare a national emergency."

Graham added: "In 2014, President Obama declared a humanitarian crisis at our southern border because 120,000 unaccompanied minors were apprehended.  As of today, we have already apprehended 120,000 in Fiscal Year 2019.  The problems of 2014 are only getting worse."

Senate Democratic leader Chuck Schumer of New York said Trump was trying to "bend the law" with his declaration of a national emergency on the southern border. He called on lawmakers to "speak up with one bipartisan voice" to put a check on the executive branch as the founding founders envisioned.

Acting Secretary of Defense Patrick Shanahan, center, and Joint Chiefs Chairman Gen. Joseph Dunford, second from the right, during a tour of the U.S.-Mexico border at Santa Teresa Station in Sunland Park, N.M., on Saturday. (AP Photo/Pablo Martinez Monsivais)

Acting Secretary of Defense Patrick Shanahan, center, and Joint Chiefs Chairman Gen. Joseph Dunford, second from the right, during a tour of the U.S.-Mexico border at Santa Teresa Station in Sunland Park, N.M., on Saturday. (AP Photo/Pablo Martinez Monsivais)

"What would stop a future president from claiming an emergency every week?" he asked.

On Monday, GOP Sen. Thom Tillis, R-N.C., said he would vote to block the order, joining Maine's Susan Collins and Alaska's Lisa Murkowski as Republicans supporting the resolution. Congress must defend its power of the purse and warned that a future Democrat in the White House might abuse the power to advance "radical policies," Tillis said.

Another Republican, Sen. Lamar Alexander of Tennessee, called Trump's order "unnecessary, unwise, and inconsistent with the United States Constitution and I'll decide how to vote when I'm presented with something to vote on."

Senate voting on Trump's emergency order could drag under a rarely used procedure, which an aide said is possibly a first for the chamber. The law allows for up to 15 days of committee review— in this case, at the Armed Services panel — with a full Senate vote three days later. Senators, though, said the process could be expedited.

At issue is Trump's longstanding vow to build a wall along the 1,900-mile southwest border, perhaps his top campaign promise. He has long since dropped any pretense that money for the wall would come from Mexico, which he once claimed would be the source of funding.

Earlier this month Congress approved a huge spending bill providing nearly $1.4 billion to build 55 miles of border barriers in Texas' Rio Grande Valley, ending a dispute that had led to a record 35-day partial shutdown of the government. Trump had demanded $5.7 billion to construct more than 200 miles.

Trump's declaration of a national emergency gives him access to about $3.6 billion in funding for military construction projects to divert to border fencing. Lawmakers in both parties are recoiling at the politically toxic prospect of losing cherished projects at back-home military bases. The Defense Department has not identified which projects may face the ax.

CLICK TO GET THE FOX NEWS APP

But, the administration is more likely to tap $600 million from a federal asset forfeiture fund first. In addition, it is considering shifting more than $2 billion from Defense Department accounts into a Pentagon counter-drug fund to be tapped for wall construction.

Trump's edict is also being challenged in the federal courts, where a host of Democratic-led states such as California are among those that have sued to overturn the order. The House may also join in.

Fox News' Chad Pergramm, Alex Pappas and The Associated Press contributed to this report.

Source: Fox News Politics

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Sweden’s Veoneer bets driverless car delay will be its gain

FILE PHOTO: Jan Carlson, CEO of Veoneer, Inc., rings the opening bell to celebrate it's first day of trading on the floor of the NYSE in New York
FILE PHOTO: Jan Carlson, CEO of Veoneer, Inc., rings the opening bell to celebrate it's first day of trading on the floor of the New York Stock Exchange (NYSE) in New York, U.S., July 2, 2018. REUTERS/Brendan McDermid/File Photo

April 15, 2019

By Johannes Hellstrom and Esha Vaish

STOCKHOLM (Reuters) – Sweden’s Veoneer expects to gain from a commercial delay in self-driving cars, betting that rising demand for its radar and camera-based systems as the industry ramps up to autonomy will boost its market position.

Forecasts on when autonomous vehicles will become a commercial reality have been receding, with most analysts now expecting broad-based adoption to take another decade as accidents in early testing have raised fresh concerns about regulation, technology and cost.

Veoneer, seen by many investors as a play on autonomous driving, has suffered as a result. Weak car markets, delayed 2020 targets and cash concerns also contributed to a 36 percent drop in Veoneer’s stock over the past six months.

Chief Technology Officer Nishant Batra, however, said that by being more selective following its investment and product portfolio review, Veoneer could position itself to scale up more efficiently and set the foundation for the future.

He said increasing requirements for active safety features to get top ratings in car safety assessment schemes such as the European New Car Assessment Program (Euro NCAP) would be the big market driver for the coming years.

Veoneer’s base case is that the market for its active safety products will soar to $24 billion in 2025, from $7 billion in 2018.

“We have always focused on getting the portfolio ready for attacking that demand,” Chief Technology Officer Nishant Batra said. He added that the bigger role in the market for camera and vision systems coupled with software for combining data from different sensors was a “sweet spot” for the company.

Some analysts are skeptical. UBS repeated its “sell” rating on Veoneer in a note on Monday, citing worries over the company’s growth as well as capital concerns.

STEREO CAMERA

Loss-making Veoneer kept its $4 billion sales target for 2022 intact and reported a 95 percent jump in active safety order bookings last year, but the delay of its 2020 targets increased concerns it might run short of capital before sales kick in and be unable to keep up with better-capitalized rivals.

While Veoneer and rivals Continental and Bosch all have mono- and stereo camera systems with internally developed software, U.S.-based Aptiv has focused on mono cameras with much success, sourcing algorithms from vision software market leader Mobileye, owned by Intel.

Deutsche Bank, which rates Veoneer a “sell”, said in February the company faced “big near term challenges” from high investment costs, adding it had longer-term questions about the differentiation of Veoneer’s technology, a risk to its competitiveness and margins.

Veoneer believes driver monitoring will be an important area, with sensor fusion between the inward-looking and outward looking camera underway, and Batra said thermal imagery and camera fusing was also being increasingly discussed.

He said the move from the so-called level 1 to level 2 opened up the market for sensor fusion software, which can be monetized through added advanced driver assistance systems (ADAS).

Cars are classified on a 0-5 autonomy scale, with level 2 partially automated, level 3 conditionally automated, and level 4 highly automated and capable of performing all driving functions under certain conditions.

“This market has suddenly come alive for us. When you go from level 1 to level 3, some of the centralization of computing already starts,” he said.

Batra said Veoneer’s main driverless push, Zenuity – the ADAS and autonomous drive software joint venture with Volvo Cars – should be seen as self-sustaining with its software used for both sensor fusion and Level 4 products.

“This also helps the OEMs (carmakers) get ready for the eventual journey toward level 4, so we see this market take off and we have won some good initial contracts in this space.”

(Reporting by Johannes Hellstrom and Esha Vaish; editing by Emelia Sithole-Matarise)

Source: OANN

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Boxing: New opponent for Joshua to be announced next week, promoter says

FILE PHOTO: Anthony Joshua & Jarrell Miller Press Conference
FILE PHOTO: Boxing - Anthony Joshua & Jarrell Miller Press Conference - Hilton London Syon Park, London, Britain - February 25, 2019 Joe Markowski, trainer Robert McCracken, Anthony Joshua, promoter Eddie Hearn, Adam Smith, promoter Dmitry Salita, Jarrell Miller and Sarah Fina during the press conference Action Images via Reuters/Andrew Couldridge/File Photo

April 19, 2019

(Reuters) – A new opponent for Briton Anthony Joshua’s June 1 heavyweight fight in New York will be announced next week, promoter Eddie Hearn said on Twitter on Friday.

Joshua, the WBA, IBF, WBO and IBO world champion, had been scheduled to fight American Jarrell Miller but the New York State Athletic Commission refused to sanction the fight, saying that Miller had committed a violation relating to use of a prohibited substance.

Miller has denied taking a banned substance.

“I have NEVER knowingly taken any banned substance and when I found out the news last night I was totally shocked,” Miller said on Instagram.

ESPN reported that Miller had tested positive for the banned substance GW1516, which boosts endurance and helps athletes burn fat, citing three sources familiar with the matter.

ESPN reported on Friday that Miller had also failed a second test for another substance.

Reuters could not confirm either test and the Voluntary Anti-Doping Association, which reportedly administered the second test, could not be reached for immediate comment.

“Remember don’t believe everything you hear and see. The facts will prevail and I shall be vindicated,” Miller said.

“I don’t have anything to hide and the truth will make itself known.”

(Reporting by Gene Cherry in Salvo, North Carolina, editing by Ed Osmond)

Source: OANN

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Coming Up: Joe Rogan Defends Free Speech Live in Studio

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Woman who joined Islamic State cannot return to U.S., Pompeo says

U.S. Secretary of State Pompeo visits Warsaw
FILE PHOTO: U.S. Secretary of State Mike Pompeo speaks at a news conference at Lazienki Palace in Warsaw, Poland February 12, 2019. REUTERS/Kacper Pempel

February 21, 2019

(Reuters) – U.S. Secretary of State Mike Pompeo said on Wednesday a woman born in the United States who joined the Islamic State militant group did not qualify for U.S. citizenship and had no legal basis to return to the country.

Hoda Muthana, 24, traveled to Syria over four years ago to join Islamic State, also known as ISIS. She married a succession of Islamic State fighters and went on Twitter to encourage attacks on the West.

In media interviews this week from a detention camp in Syria, Muthana said she was sorry for her actions and wanted to return to her family in Alabama with her toddler son.

Pompeo said Muthana was not a U.S. citizen and would not be admitted into the United States.

“She does not have any legal basis, no valid U.S. passport, no right to a passport, nor any visa to travel to the United States,” Pompeo said in a statement.

President Donald Trump said on Twitter he had directed Pompeo “not to allow Hoda Muthana back into the Country!”

Pompeo’s statement did not explain why the State Department did not consider Muthana a U.S. citizen.

The action followed Britain’s move to revoke the citizenship of a teenager after she joined Islamic State, citing security concerns.

14TH AMENDMENT

The U.S. Department of State did not immediately respond to a request for comment, but U.S. officials appeared to be basing their position on an exception in the 14th Amendment of the U.S. Constitution, which grants citizenship to “all persons born or naturalized in the United States.”

Muthana’s father was a Yemeni diplomat, working in the United States. Children born in the United States to accredited diplomats, under the 14th Amendment, do not acquire citizenship since they are not “born … subject to the jurisdiction of the United States,” according to United States Citizenship and Immigration Services.

Hassan Shibly, a representative for the Muthana family and a staff member of the Council on American-Islamic Relations, tweeted that she was born in Hackensack, New Jersey, in October 1994, months after her father informed the U.S. government he was no longer a diplomat.

Charles Swift, director of the Constitutional Law Center for Muslims in America, said her father’s revocation of his diplomatic status meant Hoda Muthana was a U.S. citizen. Swift said he planned to file a lawsuit over her case.

(Reporting by Andrew Hay in New Mexico; Editing by Bill Tarrant and Peter Cooney)

Source: OANN

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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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