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Removing Turkey from F-35 jet’s supply chain could slow work on 75 jets: Navy officer

FILE PHOTO: A Lockheed Martin F-35 aircraft is seen at the ILA Air Show in Berlin
FILE PHOTO: A Lockheed Martin F-35 aircraft is seen at the ILA Air Show in Berlin, Germany, April 25, 2018. REUTERS/Axel Schmidt/File Photo

April 4, 2019

WASHINGTON (Reuters) – If Turkey were removed from the F-35 jet supply chain amid a dispute with the United States over its planned purchase of a Russian missile system, it would impact the production rate for up to 75 of the fighters, a Pentagon official said on Thursday.

The United States has halted delivery of equipment related to the stealthy fighter aircraft to Turkey. It was the first concrete American step to block delivery of the jet to the NATO ally in light of the planned purchase of Russia’s S-400 missile defense system.

“The evaluation of Turkey stopping would be between 50- and 75-airplane impact over a two-year period,” the head of the F-35 program, Navy Vice Admiral Mathias Winter, told a U.S. House of Representatives Armed Services Committee subcomittee.

Turkey produces between 6 percent and 7 percent of the parts for the F-35, Winter said.

Winter’s comment came as Washington explored whether it could remove Turkey from production of the F-35. Turkey makes parts of the fuselage, landing gear and cockpit displays. Sources familiar with the F-35’s intricate worldwide production process and U.S. thinking on the issue last week said Turkey’s role can be replaced.

“We would see within 45 to 90 days an impact of the slowing down or stopping of those parts to the three production lines.”

The F-35 has production lines in Italy, Texas and Japan.

“Right now there has been no disruption” of the supply chain Winter said.

The program intends to deliver 131 jets this year, Winter said.

(Reporting by Mike Stone; editing by Jonathan Oatis)

Source: OANN

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Report: Red Wings to hire Yzerman as GM

Yzerman, general manager of Tampa Bay Lightning, speaks to media before Commissioner Bettman announces end of labor negotiations between the NHL and the NHL NHLPA in New York
FILE PHOTO: Steve Yzerman, general manager of the Tampa Bay Lightning, speaks to media in New York, January 9, 2013. REUTERS/Lucas Jackson

April 19, 2019

Steve Yzerman is coming home to become general manager of the Detroit Red Wings, according to TSN’s Gord Miller.

“The Red Wings will introduce Steve Yzerman as their new GM this afternoon, Ken Holland to remain as Sr Vice President,” Miller tweeted on Friday morning.

The Red Wings also announced that Yzerman and Holland would be part of a press conference at 3 p.m. ET.

Yzerman, who played in Detroit for his entire 22-year career, stepped down from his role as the Tampa Bay Lightning GM just before the season.

Yzerman, 53, had been general manager of the Lightning since 2010. His family still lived in Detroit during that stint.

He was named the league’s General Manager of the Year for the 2014-15 season. During his tenure, the Lightning have won a conference title and a division title and made the playoffs five times.

Yzerman was a Hall of Fame center and longtime captain during his playing days with the Detroit Red Wings from 1983-2006.

–Field Level Media

Source: OANN

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Booker tweets that he 'broke up with sleep,' then dates 'smoldering love' coffee

At least if he's president he'll be awake for that 3 a.m. phone call.

It seems as if 2020 presidential candidate Cory Booker and coffee are more than just friends.

Toronto-based writer Anna Fitzpatrick chronicled Booker's long-running "relationship" with coffee dating back to tweets from 2009, while he was still mayor of Newark, N.J. Through a series of retweets, she told Booker's love story with "coffee" and his on-and-off-again relationship with "sleep."

Fitzpatrick admitted that digging up decades-old tweets is a "low blow," but apparently Booker's past posts need help. She said "every tweet from 2009 is "bad."

Sshe began the Tweet-story by pointing out Booker's 2009 tweets and said, "this is what I'm talking about."

"'Sleep' and I broke up a few nights ago. I'm dating 'Coffee' now. She's Hot!" Booker tweeted on May 28, 2009.

But she also noted that Booker tweeted the same joke in 2017, so "its fair game," she said.

"I broke up with sleep last night and I'm dating coffee this morning," Booker tweeted on December 2, 2017. "I appreciate her warmth and stimulating company."

He also tweeted the same joke again in 2015, this time on New Year's Day.

Then in 2012, he tweeted three times about his intimate relationship with coffee and contentious one with sleep.

In 2010, he tweeted, "Mean 'ole 'Sleep' left me for another dude / I'm with 'Coffee' now she's got a stimulating attitude."

Then again in 2010, he tweeted "'Sleep' and I broke up again tonight. I'm finding comfort with my new special friend 'coffee' - she is hot."

Again in 2009, which Fitzpatrick says is "off limits," Booker tweeted that he had "another fight" with "sleep."

"...I left her & I'm hanging out with my smoldering love 'coffee' - & tonight she is smoking hot," he tweeted.

Fitzgerald ended her string of retweets with "2012. 'nu friend.' the end," with Booker's 2012 tweet about coffee and sleep.

CLICK HERE FOR THE FOX NEWS APP

"Sleep & I have irreconcilable differences. We separated. I'm dating my tall, hot, sweet nu friend coffee," he tweeted.

Source: Fox News Politics

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New York Man Gets State Stun Gun Ban Overturned Based On His Second Amendment Rights

Evie Fordham | Politics and Health Care Reporter

Banning the personal ownership of stun guns in New York state is unconstitutional because it violates individuals’ Second Amendment right to bear arms, a federal judge ruled Friday.

“New York’s sweeping prohibition on the possession and use of tasers and stun guns by all citizens for all purposes, even for self-defense in one’s own home, must be declared unconstitutional,” U.S. District Judge David Hurd wrote in his decision according to The Associated Press. Hurd also wrote that people trading firearms for stun guns could result in fewer weapons deaths.

Matthew Avitabile of Schoharie County, New York, brought the suit against the state police superintendent, since that agency enforces the state’s weapons laws. Avitabile wanted to buy a stun gun to defend himself in his home in rural upstate New York, reported The AP. (RELATED: Coalition Of 500 Cities, Counties And Tribes Sues Pharma Billionaire Family For Racketeering)

Avitabile is also the mayor of Middleburgh, New York, and said that although his town is as safe “as Mayberry,” he wants New Yorkers to be able to protect themselves, reported The New York Post.

A hand holds a stun gun. Shutterstock image via user devonx

A hand holds a stun gun. Shutterstock image via user devonx

Forty-seven states allow tasers and stun guns with varying levels of regulation, according to The New York Post. Now the stricter states are starting to reverse course. For instance, the Illinois Supreme Court ruled in favor of two men charged with carrying stun guns Thursday, according to The AP. A Massachusetts court ruled that state’s stun gun ban unconstitutional in 2017.

New Jersey’s state attorney general declared the state ban on electronic arms like stun guns unconstitutional in 2017.

New York state is not known for being friendly to firearms businesses either. For example, New York-based, firearms-related business company Check-Mate Industries is expanding not in the Empire State, with its highly restrictive gun control laws, but in Georgia.

Follow Evie on Twitter @eviefordham.

Send tips to evie@dailycallernewsfoundation.org.

Content created by The Daily Caller News Foundation is available without charge to any eligible news publisher that can provide a large audience. For licensing opportunities of our original content, please contact licensing@dailycallernewsfoundation.org.

Source: The Daily Caller

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Virginia Tech hires Young from Wofford

FILE PHOTO: NCAA Basketball: NCAA Tournament-Second Round-Wofford vs Kentucky
FILE PHOTO: Mar 23, 2019; Jacksonville, FL, USA; Wofford Terriers head coach Mike Young instructs his team during the second half in the second round of the 2019 NCAA Tournament at Jacksonville Veterans Memorial Arena. Matt Stamey-USA TODAY Sports/File Photo

April 8, 2019

Wofford coach Mike Young, who took the Terriers to five NCAA Tournament appearances, has accepted the head coaching position at Virginia Tech, the school announced Sunday.

Young compiled a 299-244 mark in 17 seasons as the head coach at Wofford, which went 30-5 this season and advanced to the second round of the NCAA Tournament. The seventh-seeded Terriers defeated Seton Hall in the first round before losing to No. 2 Kentucky.

Young replaces Buzz Williams, who left last week to coach Texas A&M. The Hokies advanced to the Sweet 16 this season before falling 75-73 to No. 1 seed Duke.

“We are fortunate to have been able to recruit Mike Young to Virginia Tech, not only because of his proven leadership and coaching ability, but because Coach Young is home in Southwest Virginia and leads his life in the true Hokie tradition of integrity and commitment to service,” Virginia Tech president Tim Sands said in a statement.

Young, a native Virginian, has been on the basketball staff at Wofford — located in Spartanburg, S.C. — for 30 years.

Wofford finished this season with an 18-0 Southern Conference record. Young was the Sporting News Coach of the Year, while he finished third in AP Coach of the Year voting behind Texas Tech’s Chris Beard and Houston’s Kelvin Sampson.

The Terriers won the Southern Conference tournament five times in the past 10 seasons and captured the conference’s regular-season title in four of those five years.

This season topped the others, as the Terriers broke into the AP Top 25 for the first time in school history. The NCAA Tournament victory was also a first for the school after four losses, dating to 2010.

The Terriers’ only regular-season losses were to then-No. 8 North Carolina to start the season, Oklahoma, then-No. 2 Kansas and then-No. 17 Mississippi State.

–Field Level Media

Source: OANN

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Erdogan’s AK Party appeals for annulment of Istanbul local elections: Haberturk

Supporters of AK Party wave flags in Istanbul
Supporters of AK Party wave flags in Istanbul, Turkey April 1, 2019. REUTERS/Kemal Aslan

April 5, 2019

ANKARA (Reuters) – Turkish President Tayyip Erdogan’s AK Party (AKP) has appealed to annul local elections in Istanbul, broadcaster Haberturk said on its website on Friday, after initial results showed the opposition won a narrow victory in the city.

Since Sunday’s vote the AKP has submitted objections to the results, saying they had been impacted by irregularities.

Haberturk, without citing sources, said the AKP office in Istanbul’s Buyukcekmece district had appealed to the provincial electoral office to annul the vote across the city due to what it said was illegal voter registrations in the district.

(Reporting by Tuvan Gumrukcu; Editing by Dominic Evans)

Source: OANN

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The Latest: 100 people evacuated from cruise ship off Norway

The Latest on the Viking Sky cruise ship, which is having engine problems off the coast of Norway (all times local):

6 p.m.

Norwegian officials say rescue workers have managed to evacuate about 100 people so far from a cruise ship that ran into engine problems in heavy winds and seas and sent a mayday call off Norway's western coast.

Authorities kicked off an evacuation on Saturday afternoon of the estimated 1,300 passengers and crew from the Viking Sky cruise ship. Rescue teams with helicopters and boats have been sent to help, and the evacuation process expected to take several hours.

Norwegian newspaper VG said the Viking Sky into propulsion problems as strong winds and heavy seas hit Norway's coastal regions and had to moor in Hustadsvika Bay, between the western Norwegian cities of Alesund and Trondheim.

The Viking Sky was delivered in 2017 to operator Viking Ocean Cruises.

___

5:15 p.m.

Police say a cruise ship with engine problems has sent a mayday call off Norway's western coast and is making plans to evacuate its 1,300 passengers and crew.

Norwegian newspaper VG said the Viking Sky cruise ship ran into propulsion problems as strong winds and heavy seas hit Norway's coastal regions Saturday.

Police in the western county of Moere og Romsdal said Saturday the ship has managed to moor in Hustadsvika Bay, between the western Norwegian cities of Alesund and Trondheim.

Rescue teams with helicopters and boats have been sent to help and evacuate the vessel, a process expected to take several hours.

The Viking Sky was delivered in 2017 to operator Viking Ocean Cruises.

Source: Fox News World

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FILE PHOTO: An aerial photo looking north shows shipping containers at the Port of Seattle and the Elliott Bay waterfront in Seattle
FILE PHOTO: An aerial photo looking north shows shipping containers at the Port of Seattle and the Elliott Bay waterfront in Seattle, Washington, U.S. March 21, 2019. REUTERS/Lindsey Wasson/File Photo

April 26, 2019

NEW YORK (Reuters) – U.S. economic growth is running at a 1.1% pace in the second quarter as the gains in exports and inventories recorded in the first quarter are expected to reverse, Morgan Stanley economists said on Friday.

“Our preliminary expectations for growth in the second quarter sees large drags from net exports and inventories after their contributions in 1Q,” they wrote in a research note.

Gross domestic product increased at a 3.2% annualized rate in the first three months of the year, driven by a smaller trade deficit and the largest accumulation of unsold merchandise since 2015, the Commerce Department said earlier Friday.

(Reporting by Richard Leong)

Source: OANN

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FILE PHOTO: The Deutsche Bank headquarters are pictured in Frankfurt
FILE PHOTO: The Deutsche Bank headquarters are pictured in Frankfurt, Germany, April 25, 2019. REUTERS/Ralph Orlowski/File Photo

April 26, 2019

By Tom Sims

FRANKFURT (Reuters) – Within hours of the collapse of merger talks with Commerzbank, Christian Sewing scrambled to convince investors and employees that Deutsche Bank can stand on its own two feet.

The Deutsche Bank chief executive told staff, many of whom opposed a merger because of significant job losses, that while he had not been “skeptical” about the Commerzbank talks, he was cautious about the chances of success from the start.

And another top Deutsche Bank executive said on Friday that it had been Commerzbank that initiated the talks, suggesting there was no desperation on their part for a deal.

Commerzbank denied that version of events, ending the apparent truce between the normally highly competitive cross-town Frankfurt rivals over the past six weeks.

German hopes of creating a national banking champion able to challenge global competitors were finally dashed on Thursday when Deutsche Bank and Commerzbank ended their talks due to the risks of doing a deal, restructuring costs and capital demands.

For Sewing, the failure to clinch a deal has left the 49-year-old chief executive of Germany’s largest bank, who took over just over a year ago, with his back to the wall.

Credit ratings agency Standard & Poor’s, which downgraded Deutsche Bank last year, said on Friday that Deutsche Bank “will remain under strain”, adding that it “seems to have acknowledged the need to adjust its strategy”.

Under Sewing, a new leadership has tried to revive Deutsche Bank’s fortunes, but it has faced money laundering allegations and failed stress tests, as well as ratings downgrades.

At the heart of the debate over its future is whether it should focus its business on Germany and draw a line under its costly global ambitions to take on Wall Street’s big guns.

“MARKET PLAY”

Without a deal, Deutsche Bank now finds itself back at the mercy of equity and debt markets, with UBS analysts warning that in a “stress scenario” it could again “be forced into a ‘debt-driven capital increase’ even with solid capital ratios”.

“Deutsche remains a levered market play vulnerable to external events,” the UBS analysts said in a note.

Sewing, along with many analysts, believes Deutsche Bank can go it alone in the short-term, but will be counting on a turnaround in market conditions to do so in the long-run given its dependence on volatile investment bank earnings.

“To reach our return objective, we also need to see a revenue recovery in our more market-sensitive business,” Sewing said on Friday after reporting results.

“These revenues are available to us in better market conditions given our leading positions in many of these businesses, but we need to capture them,” he added.

Revenue at Deutsche Bank’s bond trading division fell 19 percent in the first quarter, it said on Friday, underscoring weakness at its investment bank.

If those earnings do not improve, Berlin’s desire to keep its biggest bank out of foreign hands may start to wane.

“Germany’s globally active companies need competitive financial institutions that can support them around the world,” German finance minister Olaf Scholz said on Thursday.

(Writing by Alexander Smith; Editing by Keith Weir)

Source: OANN

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Panama's former president Ricardo Martinelli yells to the media while arriving to the Electoral Court in Panama City
Panama’s former president Ricardo Martinelli reacts to the media while arriving to the Electoral Court in Panama City, Panama April 26, 2019. REUTERS/Erick Marciscano

April 26, 2019

PANAMA CITY (Reuters) – Panama’s electoral tribunal has ruled that former President Ricardo Martinelli, who is awaiting trial on wiretapping charges, cannot take part in elections on May 5 in which he was running for mayor of Panama City and a seat in Congress, a spokesman for Martinelli said on Friday.

“The ruling of the electoral tribunal has disqualified him as candidate,” said the spokesman, Eduardo Camacho, calling the court’s ruling a “political decision.”

Officials at the tribunal did not immediately confirm the ruling, which also was reported in local media in Panama.

Martinelli, a supermarket tycoon who ran the Central American country from 2009 to 2014, was extradited to Panama last June from the United States and charged with spying on 150 people, including politicians, union leaders and journalists.

A judge had previously cleared Martinelli to run for mayor of the capital. His critics vowed to appeal that decision.

(Reporting by Elida Moreno and Stefanie Eschenbacher; Editing by Bill Trott)

Source: OANN

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FILE PHOTO: Amazon boxes are seen stacked for delivery in the Manhattan borough of New York City
FILE PHOTO: Amazon boxes are seen stacked for delivery in the Manhattan borough of New York City, January 29, 2016. REUTERS/Mike Segar/File Photo

April 26, 2019

(Reuters) – Shares of Walmart, Target and other U.S. retailers fell on Friday as Amazon.com Inc unveiled a one-day delivery plan for its Prime members in a move to further disrupt the fiercely competitive retail landscape.

The e-commerce giant’s announcement on Thursday could cause other brands, manufacturers, retailers, and logistics companies to have to invest more aggressively to compete with Amazon and its delivery, analysts said.

Retailers in recent years have poured billions into ecommerce and faster shipping options and are trying to close the gap with Amazon.

“This is about making it more expensive to catch up and affirms our world view that only the largest and smartest will survive,” Bernstein analyst Brandon Fletcher said.

The move is expected to heighten consumer expectations on e-commerce delivery just like Amazon did with its two-day shipping option for members of its loyalty club Prime, noted analysts.

“The faster you ship, the more people buy,” RBC Capital Markets analyst Mark Mahaney said.

The challenge for non-Amazon players was that very few of the existing logistics and parcel delivery players now have the ability to do nationwide one-day delivery, Morgan Stanley analyst Brian Nowak said.

“And even fewer can do it at the vast scale and reasonable cost that AMZN would need for Prime delivery,” Nowak said in a note.

Walmart Inc’s shares fell about 3 percent, while Target Corp dropped about 5 percent in morning trade.

Shares of Kohl’s Corp, Macy’s Inc and Nordstrom Inc fell about 1 percent. Grocer Kroger Co was nearly 3 percent lower, while consumer electronics retailer Best Buy Inc dropped 2.1 percent.

(Reporting by Soundarya J and Akanksha Rana in Bengaluru; Editing by Maju Samuel)

Source: OANN

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A Chinese woman adjusts a Chinese national flag next to U.S. national flags before a Strategic Dialogue expanded meeting, part of the U.S.-China Strategic and Economic Dialogue (S&ED) in Beijing
A Chinese woman adjusts a Chinese national flag next to U.S. national flags before a Strategic Dialogue expanded meeting, part of the U.S.-China Strategic and Economic Dialogue (S&ED) held at the Diaoyutai State Guesthouse in Beijing, July 10, 2014. REUTERS/Ng Han Guan/Pool (CHINA – Tags: POLITICS BUSINESS)

April 26, 2019

By April Joyner

NEW YORK (Reuters) – Even as the lift from optimism over prospects for U.S.-China trade detente shows signs of wearing off for the wider U.S. stock market, upbeat sentiment around China’s economy could bolster shares of materials companies.

Shares of S&P 500 industrial and technology companies, which were buffeted by last year’s tit-for-tat tariffs as well as slowing global demand, have been very responsive to progress in U.S.-China trade relations and a strengthening Chinese economy. This year, those sectors have outpaced the ascent in the S&P 500, which reached a record closing high on Tuesday.

Materials stocks have not been as sensitive, however, even though they also stand to benefit as a stronger Chinese economy lifts global consumption and industrial output. As China has taken measures to stimulate its economy, its economic data have turned more upbeat. That in turn could aid global growth, which has flagged as a result of China’s cooldown.

“What we’re seeing is China spending more on stimulus: fiscal stimulus and monetary stimulus,” said Kristina Hooper, chief global market strategist at Invesco in New York. “That’s likely to be a positive for materials.”

The People’s Bank of China has cut banks’ reserve requirement ratio five times over the past year and is widely expected to ease policy further to spur lending and reduce borrowing costs. The stimulus appears to have boosted Chinese economic data, with factory activity growing in March for the first time in four months.

Yet so far in 2019, the S&P 500 materials index has underperformed the S&P 500 at large, rising just 11.9% compared with 16.7% for the benchmark index. Moreover, it is among the biggest decliners in the period since the S&P’s previous record closing level on Sept. 20. The materials index has fallen 7% over those seven months, versus a 5.2% gain for technology and a 3% loss for industrials. Only the energy index has dropped more over that period.

A trade agreement could serve as a catalyst for a bump in materials shares as a drag on China’s economy is lifted, some market strategists say. Some commodity prices, including those for copper and oil, have ascended this year as the prospects for the global economy have somewhat brightened.

“It all goes back to the global growth outlook,” said Andrea DiCenso, portfolio manager for alpha strategies at Loomis Sayles in Boston. “With the front run in hard data, we’re beginning to see a pretty significant rally.”

Additionally, a trade agreement is expected to include commitments from China to purchase higher quantities of U.S. products such as soybeans, which could benefit companies that make agricultural chemicals, including DowDuPont Inc and CF Industries Holdings Inc.

CF Industries is scheduled to report quarterly results after the bell on Wednesday, and DowDuPont is scheduled to report before the market open on Thursday.

To be sure, even with a trade agreement, some materials companies could face price pressures. Shares of Freeport-McMoRan Inc fell 10.1% on Thursday after the copper mining company posted a lower-than-expected profit as its production slipped and its costs rose.

A rollback of tariffs on Chinese imports, particularly aluminum and steel, would likely prompt a fall in some commodity prices, which could hurt prospects for certain materials companies, said Gene Goldman, chief investment officer at Cetera Investment Management in El Segundo, California.

Even so, those drawbacks may be outweighed by the support for global demand fostered by a U.S.-China trade agreement.

“You could see a number of companies with lowered expectations bring them back up as they talk favorably about the impact that a trade deal would have on them,” said Tim Ghriskey, chief investment strategist at Inverness Counsel in New York.

(Reporting by April Joyner; additional reporting by Sinéad Carew; editing by Jonathan Oatis)

Source: OANN

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