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FILE PHOTO: Customers shop in a Sainsbury’s store in Redhill, Britain, March 27, 2018. REUTERS/Peter Nicholls/File Photo
April 26, 2019
By James Davey
LONDON (Reuters) – With Sainsbury’s dream of creating Britain’s biggest supermarket group in tatters, its chastened CEO Mike Coupe needs to reassure investors he has the plan to arrest a sales decline when he presents annual results next week.
Britain’s competition regulator blocked Sainsbury’s 7.3 billion pound ($9.4 billion) takeover of Walmart’s Asda on Thursday, saying the deal would increase prices. Sainsbury’s shares fell 5 percent and are down 22 percent over the last three months.
For Sainsbury’s fourth quarter to March 9 analysts are on average forecasting a 1.6 percent fall in like-for-like sales, which would follow 1.1 percent decline over the Christmas period.
Monthly industry data from researcher Kantar has also shown Sainsbury’s as the weakest performer of the big four grocers this year and this month it lost its status as Britain’s No. 2 supermarket group by market share to Asda.
While Sainsbury’s has struggled, market leader Tesco has gained momentum, this month reporting a 34 percent jump in full year profit.
Prohibition of the deal was a major blow to Coupe, its architect and Sainsbury’s boss since 2014.
Martin Scicluna became Sainsbury’s chairman last month and when bedded-in may decide that if the group needs a major shake-up it is best carried out by a new leader.
Much will depend on the attitude of 22 percent shareholder the Qatar Investment Authority, which has so far declined to comment, as well as Coupe’s own appetite to continue after 15 years at the group.
THE RIGHT STRATEGY?
Coupe said on Thursday he was confident Sainsbury’s was pursuing the right strategy.
That was a clear indication that Wednesday’s results statement will not include radical changes to the group’s plans, such as a big margin reset — sacrificing profit to drive sales.
However, sources connected to Sainsbury’s said Coupe would likely acknowledge that more needs to be done on prices, so the supermarket business can better compete with its big four rivals – Tesco, Asda and No. 4 Morrisons – as well as German-owned discounters Aldi and Lidl.
Coupe’s strategy is based on differentiating Sainsbury’s food offer, growing its general merchandise, clothing business and bank, while investing in convenience and online channels.
Some analysts believe major change is needed.
HSBC analyst David McCarthy reckons Sainsbury’s needs a margin reset, should allocate more space for core lines and needs to drive better store standards. He said Sainsbury’s might consider closing down space in some of its larger stores and reducing its non-food offer.
For the full 2018-19 year analysts are on average forecasting a pretax profit of 626 million pounds, up from 589 million pounds in 2017-18 – a second straight year of profit growth. A full year dividend of 10.5 pence per share is forecast versus 10.2 pence last time.
Bank and lawyer fees related to the proposed combination with Asda were 17 million pounds in the first half and have reportedly jumped to around 50 million pounds.
(Reporting by James Davey; Editing by Keith Weir)
Source: OANN


Arizona Gov. Doug Ducey rejected demands from a secular group to remove posts on social media where he sent Easter greetings and cited a Bible verse, offering to provide copies of the Constitution to his critics.
Ducey, who’s a practicing Catholic, has been bombarded with calls from Secular Communities for Arizona to remove the post, which included a cross, a Bible verse, and the phrase, “He is risen.”
ARIZONA’S GOP GOVERNOR WAGING WAR AGAINST OCCUPATIONAL LICENSING LAWS
The group argued the posts crossed a line into government sponsorship of religious messages and was unconstitutional.
The governor fired back at the group, saying in a tweet that he will never remove the posts or other religious ones.
“We won’t be removing this post. Ever. Nor will we be removing our posts for Christmas, Hanukkah, Rosh Hashanah, Palm Sunday, Passover or any other religious holiday,” he tweeted. “We support the First Amendment, and are happy to provide copies of the Constitution to anyone who hasn’t read it.”
Dianne Post, an attorney for the secular group, told the Arizona Republic “elected officials should not use their government position and government property to promote their religious views.”
LICENSE REQUIRED TO REPAIR DOORS? REGS SPARK HEATED DEBATE IN ARIZONA
She added the courts have repeatedly “struck down symbolism that unites government with religion,” adding that Ducey’s office must “represent and protect the rights of all residents of Arizona, including those who do not believe in a monotheistic God or any gods at all.”
Many congratulated Ducey for not backing down amid the pressure, though some Facebook users sided with the secular group and criticized the governor on his original post.
“Why do you use a government platform to bring up your personal religion?” asked one person. “Are there no citizens in your jurisdiction that believe differently from you?”
Another stipulated that the post was somewhat discriminatory. “Great sensitivity, Doug. That’s the last time this Jew votes for you,” one person wrote.
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Ducey wished in a statement Arizonans last week a “blessed and joyful Easter and Passover weekend.”
The Associated Press contributed to this report.
Source: Fox News Politics


FILE PHOTO: A Canadian dollar coin, commonly known as the “Loonie”, is pictured in this illustration picture taken in Toronto, Ontario, Canada, January 23, 2015. REUTERS/Mark Blinch/File Photo/File Photo
April 26, 2019
OTTAWA (Reuters) – Canada posted a budget surplus in the first 11 months of the 2018/19 fiscal year compared to a deficit the year earlier as revenues increased mostly on higher tax incomes, the finance department said on Friday.
The surplus for April-February was C$3.1 billion, compared to a deficit of C$6 billion in the same 2017/18 period. Revenues climbed by 8.5 percent, mainly due to higher tax receipts, while program expenses rose by 4.8 percent.
The surplus for February was C$4.3 billion compared with C$2.8 billion in February 2018. Revenues jumped by 12.2 percent while program expenses posted a more modest 6.9 percent gain.
Last month, the Liberals unveiled their new budget, projecting a C$14.9 billion deficit in 2018/19, with the deficit rising to C$19.8 billion in fiscal 2019/20.
(Reporting by Julie Gordon in Ottawa; Editing by Chizu Nomiyama)
Source: OANN


President Trump said Friday he would beat Joe Biden “easily” in the 2020 presidential election, suggesting the former vice president could not have enough “energy” to hold the post—taking an apparent swipe at his age.
The president, departing the White House, was asked about Biden’s entrance into the Democratic primary field. Biden announced his presidential bid early Thursday morning, marking his third attempt at the White House.
JOE BIDEN OFFICIALLY LAUNCHES 2020 PRESIDENTIAL BID
“I think we’d beat him easily,” Trump told reporters Friday.
Trump, 72, said he feels “young” and is ready for 2020, and another term for his administration.
“I feel like a young man. I am a young, vibrant man,” Trump said. “I look at Joe, I don’t know about him.”
The president’s comments seemingly were a shot at the age of Biden, who is 76.
BIDEN ENTERS WHITE HOUSE RACE WITHOUT OBAMA’S ENDORSEMENT
“I would never say anyone’s too old,” Trump said. “I know they’re all making me look very young both in terms of age and in terms of energy.”
Biden became the 20th candidate to join the crowded Democratic primary field Thursday. But Biden is not the oldest in the pack. Sen. Bernie Sanders, I-Vt., is 77 and Sen. Elizabeth Warren, D-Mass., is 69.
Should Trump be re-elected, he would be 74 on Jan. 20, 2021—Inauguration Day. Should the presidency go to one of the elder Democrats in the field—Biden would be 78; Sanders would be 79; and Warren would be 71.
Meanwhile, in a wide-ranging interview on “Hannity” Thursday night, Trump dismissed Biden’s candidacy, nicknaming him “Sleepy Joe,” and saying he’s “not the brightest bulb.” Trump also said that while the former vice president has name recognition, he won’t “be able to do the job.”
Source: Fox News Politics


Venezuela’s Foreign Affairs Minister Jorge Arreaza talks to the media during a news conference in Caracas, Venezuela April 8, 2019. REUTERS/Manaure Quintero
April 26, 2019
WASHINGTON (Reuters) – The U.S. Treasury Department on Friday imposed sanctions on Venezuela’s foreign minister and a Venezuelan judge, according to a statement on the department’s website.
Foreign Minister Jorge Arreaza and a judge, Carol Padilla, were targeted over the ongoing crisis in Venezuela, the Treasury Department said, the latest in a list of officials blacklisted by U.S. authorities for their role in President Nicolas Maduro’s government.
(Reporting by Susan Heavey, Makini Brice and Lesley Wroughton; Editing by Chizu Nomiyama)
Source: OANN













































































































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