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Students say gym teacher had black kids research slave games

A suburban Milwaukee middle school gym teacher has been placed on indefinite leave while district officials look into claims that she separated students in one class by race and assigned the black children to research games that enslaved children played.

Superintendent Bryan Davis wrote in a letter to parents that the Shorewood Intermediate School teacher was instructing seventh-graders about games from around the world on April 1 when she allegedly gave the assignment to the black students.

Davis didn't name the teacher. He said the school district launched an internal investigation because it's committed to providing "an environment of inclusion."

Davis said school officials including a counselor and a psychologist are providing support to affected students.

Source: Fox News National

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Fed policymakers saw little risk from patient stance: minutes

FILE PHOTO: A guard walks in front of a Federal Reserve image before press conference in Washington
FILE PHOTO: A security guard walks in front of an image of the Federal Reserve following the two-day Federal Open Market Committee (FOMC) policy meeting in Washington, DC, U.S. on March 16, 2016. REUTERS/Kevin/File Photo

February 20, 2019

(Reuters) – Federal Reserve policymakers thought pausing on U.S. interest rate hikes last month posed little risk and plenty of benefit, minutes from their Jan. 29-30 meeting showed, giving them time to assess the effects of a global slowdown and the Fed’s rate hikes to date on U.S. economic momentum.

“Many participants suggested that it was not yet clear what adjustments to the target range for the federal funds rate may be appropriate later this year,” according to the official record of the Fed’s most recent policy meeting, released on Wednesday. “Several of these participants argued that rate increases might prove necessary only if inflation outcomes were higher than in their baseline outlook.”

The U.S. central bank caught markets off guard last month by suspending a three-year campaign to raise interest rates, saying it would be patient about making any adjustments to its target range for short-term interest rates, now at between 2.25 percent and 2.5 percent.

It also signaled it may slow or end reductions to its $4 trillion balance sheet, a process it had previously characterized as being on automatic pilot.

The surprisingly dovish decision came amid mounting headwinds to U.S. growth, including slowing Chinese and European economies and waning stimulus from the 2018 U.S. tax cuts.

Unanswered was the question of how long the Fed would remain “patient” on policy, and if the central bank’s next policy move would be to ease, rather than tighten, policy.

A raft of Fed policymakers speaking since the Fed’s January pledge of patience have insisted the economy is in a good place.

But doubts have remained, with traders in U.S. interest-rate futures placing increasing bets that the Fed will need to ease policy by early next year to counter a downturn.

(Reporting by Ann Saphir; Editing by Chizu Nomiyama)

Source: OANN

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Former Canadian minister says more revelations to come in scandal surrounding Trudeau

FILE PHOTO: Jane Philpott, when she was newly appointed president of the Treasury Board, in Ottawa, Ontario, Canada
FILE PHOTO: Jane Philpott, when she was newly appointed president of the Treasury Board, signs a book in Ottawa, Ontario, Canada, January 14, 2019. REUTERS/Patrick Doyle/File Photo

March 21, 2019

By David Ljunggren

OTTAWA (Reuters) – A Canadian cabinet minister, who had quit in protest over the government’s handling of a corruption scandal, said she and others had more to say about the matter, indicating more pain to come for embattled Prime Minister Justin Trudeau.

Trudeau has been on the defensive since Feb. 7 over allegations that top officials working for him leaned on former justice minister, Jody Wilson-Raybould, last year to ensure that construction firm SNC-Lavalin Group Inc avoided a corruption trial.

“There’s much more to the story that should be told,” former treasury board president, Jane Philpott, told Macleans’ magazine in an interview released on Thursday.

“I believe we actually owe it to Canadians as politicians to ensure that they have the truth,” she said. Philpott added that she and Wilson-Raybould had more to say but did not elaborate further. Philpott, a close political ally of Wilson-Raybould, quit on March 4.

Trudeau has denied any political interference to protect SNC-Lavalin from a bribery trial.

The crisis may threaten Trudeau’s reelection chances in the upcoming October vote. Polls show Trudeau’s center-left Liberals, who as recently as January looked certain to win the election, could lose to the official opposition Conservatives.

As well as the two ministers, the affair has claimed Trudeau’s closest political aide and the head of the federal bureaucracy. A Liberal legislator who backed Wilson-Raybould quit on Wednesday to sit as an independent.

Trudeau suffered further potential embarrassment on Thursday when SNC-Lavalin Chief Executive Neil Bruce denied he had told government officials that 9,000 jobs could be at risk if the firm was found guilty of offering bribes to Libyan officials.

Trudeau has often referred to the 9,000 potential job losses as a reason for helping the firm, which wanted to take advantage of new legislation to pay a large fine rather than be prosecuted.

“Until we are able to put this behind us, it’s pretty difficult to grow our Canadian workforce,” Bruce told the Canadian Broadcasting Corp. on Thursday.

Asked whether he had mentioned a specific number of jobs that could be at risk, he replied: “No, we never gave a number.”

A court conviction would bar SNC-Lavalin from bidding on federal government contracts for 10 years.

Bruce added that if the company’s share price continued to suffer, it might become a takeover target. He played down comments by officials that the company might move abroad.

SNC-Lavalin’s headquarters are in the populous province of Quebec, where the Liberals say they need to pick up more seats in the October election to retain a majority government.

Trudeau has dismissed calls for a public inquiry, noting the House of Commons justice committee was probing the matter. That committee – dominated by Liberal legislators – shut down its inquiry on Tuesday, saying no more action was needed.

In protest, the Conservatives forced the House to sit through the night on Wednesday casting votes on hundreds of confidence motions. The marathon continued into Thursday.

“We’ll keep fighting and we hope Canadians join us in this cause and raise their voices,” Conservative legislator Michelle Rempel told reporters.

(Reporting by David Ljunggren; Editing by Bernadette Baum)

Source: OANN

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Debenhams CEO Bucher quits after lenders take control

CEO of Debenhams, Sergio Bucher, poses for a photograph inside the company's new store in Watford
FILE PHOTO: The Chief Executive of Debenhams, Sergio Bucher, poses for a photograph inside the company's new store in Watford, Britain, September 24, 2018. REUTERS/Peter Nicholls

April 18, 2019

LONDON (Reuters) – Debenhams said on Thursday its chief executive Sergio Bucher had decided to step down, nine days after the ailing British department store group’s lenders took control.

The group’s non-executive chairman Terry Duddy will assume the role of interim executive chairman until a permanent replacement is found, the company said.

Bucher, a former Amazon executive who joined Debenhams in October 2016, said that with new financing facilities in place it was time to move on.

Administrators were appointed to the group, which had been hit by a sharp slowdown in sales, high rents and ballooning debt on April 9.

(Reporting by Paul Sandle; Editing by Susan Fenton)

Source: OANN

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Chevron to buy Anadarko for $33 billion

FILE PHOTO: A Chevron gas station sign is shown at one of their retain gas stations in Cardiff, California
FILE PHOTO: A Chevron gas station sign is pictured at one of their retain gas stations in Cardiff, California October 9, 2013. REUTERS/Mike Blake/File Photo

April 12, 2019

(Reuters) – Chevron Corp said on Friday it would buy Anadarko Petroleum Corp for $33 billion in cash and stock.

The offer of $65 per share represents a 39 percent premium to Anadarko’s Thursday close.

The total enterprise value of the transaction is $50 billion.

(Reporting by John Benny in Bengaluru; Editing by Sriraj Kalluvila)

Source: OANN

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Israelis vote in election focused on longtime PM Netanyahu

Voting has begun in the Israeli elections as the country decides whether longtime Prime Minister Benjamin Netanyahu remains in power.

Polling stations opened at 7 a.m. Tuesday with exit polls expected at the end of the voting day at 10 p.m. Official results are expected to come in overnight.

Clouded by a series of looming corruption indictments, Netanyahu is seeking a fifth term in office. It would make him Israel's longest-ever serving leader, surpassing founding father David Ben-Gurion.

He faces a stiff challenge from retired military chief Benny Gantz, whose Blue and White party has inched ahead of Netanyahu's Likud in polls. Netanyahu still appears to have the best chance of forming a coalition, though, with a smattering of small nationalist parties backing him.

Source: Fox News World

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State Department reacts to reported arrests of Americans in Haiti

The State Department responded to reports that five Americans in Haiti were arrested and held on conspiracy charges after more than a week of anti-government protests.

“We understand that the Haitian National Police detained a group of individuals, including some U.S. citizens. When U.S. citizens are arrested overseas we seek Consular Access as soon as possible and provide appropriate Consular assistance as provided by the Vienna Convention on Consular Relations,” a State Department spokesperson told Fox News. It did not comment further.

Reuters reported that a group of foreign nationals including armed Americans were arrested. Haitian newspaper Le Nouvelliste reported that police found rifles, pistols, drones and satellite phones in the group’s vehicle, according to Reuters.

The arrests come after more than a week of violent demonstrations by tens of thousands of protesters demanding the resignation of President Jovenel Moise over skyrocketing prices that have more than doubled for basic goods amid allegations of government corruption.

TRUMP DECLARES ‘SOCIALISM IS DYING’ AMID VENEZUELA ‘CATASTROPHE,’ PROMISES ‘THIS WILL NEVER HAPPEN TO US’

Last week, the State Department issued its highest-possible travel advisory for Haiti, the Western Hemisphere’s poorest nation.

“Do not travel to Haiti due to crime and civil unrest,” the department advised Americans in its Level 4 warning. “There are currently widespread, violent, and unpredictable demonstrations in Port-au-Prince and elsewhere in Haiti. ... Protests, tire burning, and road blockages are frequent and unpredictable. Violent crime, such as armed robbery, is common. Local police may lack the resources to respond effectively to serious criminal incidents, and emergency response, including ambulance service, is limited or non-existent.”

Goods in Haiti have doubled in price in recent weeks: A sack of rice now costs $18 in U.S. dollars and a can of dry beans around $7. In addition, a gallon of cooking oil has gone up to nearly $11 from $7. Inflation has been in the double digits since 2014, and the price hikes are angering many people in Haiti, where about 60 percent of its nearly 10.5 million people struggle to get by on about $2 a day. A recent report by the U.S. Agency for International Development said about half the country is undernourished.

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The U.S. government urged Moise’s administration to implement economic reforms and redouble efforts to fight corruption and hold accountable those implicated in the scandal over the Venezuelan subsidized oil program, known as Petrocaribe.

Moise has refused to step down, though his prime minister, Jean-Henry Ceant, said over the weekend that he has agreed to reduce certain government budgets by 30 percent, limit travel of government officials and remove all non-essential privileges they enjoy, including phone cards. Ceant also vowed to investigate alleged misspending tied to Petrocaribe, and said he has requested that a court audit all state-owned enterprises. He also said he would increase the minimum wage and lower the prices of basic goods, although he did not provide specifics.

Fox News’ Nicholas Kalman and The Associated Press contributed to this report.

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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