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Macy’s announces restructuring plan to save $100 million annually

People shop during a Black Friday sales event at Macy's department store in Manhasset, New York
People shop during a Black Friday sales event at Macy's department store in Manhasset, New York, U.S., November 23, 2018. REUTERS/Shannon Stapleton

February 26, 2019

(Reuters) – Macy’s Inc on Tuesday announced a restructuring plan that would cut the complexity of its top management structure to speed up decision-making and reduce costs.

The retailer said it expects the move to yield annual expense savings of $100 million, starting fiscal 2019.

Macy’s also reported a smaller-than-expected rise in holiday quarter same-store sales on Tuesday.

Shares of the company rose as much as 2.6 percent to $25 in early trading.

(Reporting by Aishwarya Venugopal in Bengaluru; Editing by Shailesh Kuber)

Source: OANN

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Ambassador Grenell: Mayor Buttigieg pushing ‘Jussie Smollett’ hate hoax against Pence

The U.S. ambassador to Germany, Richard Grenell, defended Vice President Mike Pence against accusations of homophobia alleged by Democratic presidential candidate Pete Buttigieg and compared the claims to a “hate hoax along the lines of Jussie Smollett.”

“Mayor Pete has been pushing this hate hoax along the lines of Jussie Smollett for a very long time now, several weeks,” Grenell, who is openly gay, said Thursday on “The Story with Martha MacCallum.”

Smollett, an actor, is accused of faking a hate crime and is currently being sued by the city of Chicago.

ROB SMITH: I'M GAY AND SUPPORT MIKE PENCE -- DON'T BELIEVE PETE BUTTIGIEG'S CLAIM THAT PENCE IS ANTI-GAY

Buttigieg, who is openly gay and was once cordial with Pence, has boosted criticism of the vice president calling him anti-gay.

“This is someone who was against ‘Don't Ask, Don't Tell' who felt it was too pro-gay.  He wanted to make sure even closeted of couldn't serve,” Buttigieg said Tuesday about Pence on CNN.

Grenell, who called Pence a friend, accused the mayor of South Bend of drumming up accusations to boost fundraising and asked why he didn’t speak up while Pence was the governor of Indiana.

“It's ironic that right about now when he's starting his fund-raising apparatus to run for president that he comes up with this... idea and this attack,” Grenell said.

The ambassador defended Pence and his wife and cited their Christianity and said the couple “accepted” Grendell and his partner.

“Mike and Karen are great people, they're godly people, they're followers of Christ.  They don't have hate in their heart for anyone. They know my partner, they have accepted us. You asked me do we agree philosophically on every single issue? No,” Grendell said adding that he disagrees with other people he respects.

BUTTIGIEG, ONCE CORDIAL TO PENCE, NOW CRITICAL AMID CAMPAIGN

Grendell chastised the gay community for shifting from a group about tolerance to a group that demands “we all think alike” before noting that Pence has always supported Buttigieg.

“When Mayor Pete came out, the vice president complimented him and said he holds him in high regard. The vice president or then governor has said nothing but positive things about Mayor Pete. I think this is a total hate hoax and I think it's outrageous,” Grenell said.

Source: Fox News Politics

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Hogan Accuses RNC of Shielding Trump From Primary Challenge

Maryland Gov. Larry Hogan, a Republican, blasted the Republican National Committee for attempting to shield President Donald Trump from a primary challenge, Politico reports.

Hogan, who is considering making a 2020 bid to unseat Trump, said he expects to make a trip to New Hampshire this spring. But he remains concern over the RNC’s backing of the president.

“Typically, they try to be fair arbiters of a process and I’ve never seen anything like it and I’ve been involved in the Republican Party for most of my life,” he told Politico.

“It’s unprecedented. And in my opinion, it’s not the way we should be going about our politics. It’s very undemocratic and to say, ‘We’re in some cases not going to allow a debate, we may not have a primary…’”

“And the question is, what are they afraid of? Because on the one hand you look at polls, 70 percent of Republicans support the president in a primary. Why are they so concerned? “

Politico reported that the RNC passed a resolution giving Trump its “undivided support.” And the president has launched a 2020 campaign organization that incorporates the RNC.

In an interview with CBS News, Hogan said he was being pushed by some supporters to enter the race.  

“I would say I'm being approached from a lot of different people and I guess the best way to put it is, I haven't thrown them out of my office,” he said.

Source: NewsMax Politics

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Time for a change: EU lawmakers vote to scrap clock shifts in 2021

Members of the European Parliament take part in a voting session in Strasbourg
Members of the European Parliament take part in a voting session in Strasbourg, France, March 26, 2019. REUTERS/Vincent Kessler

March 26, 2019

STRASBOURG (Reuters) – European Union lawmakers voted on Tuesday to scrap the practice of moving clocks forward by an hour in spring then back again in the autumn in the bloc from April 2021, two years later than the EU executive initially proposed.

The European Parliament voted by 410 to 192 in favor of ending the practice of seasonal time shifts. The vote is not the last word on the issue but will form the basis of discussions with EU countries to produce a final law. The countries have yet to take a stance.

EU law has required all countries in the bloc to observe daylight saving time, moving clocks forward by an hour on the last Sunday of March and back by an hour on the final Sunday in October.

The practice of switching the clocks, also observed in countries such as the United States, was first introduced in World War One to save energy by prolonging evening daylight in summer.

The European Commission proposed in September ending the practice after an EU-wide opinion survey showed a large majority in favor of doing so. The survey generated 4.6 million responses, with 84 percent of respondents wanting to end seasonal clock changes.

Critics say the survey was dominated by Germans, who made up 70 percent of the respondents.

A parliament report in favor of operating on a single time throughout the year said scientific studies link time changes to diseases of the cardiovascular or immune systems because they interrupt biological cycles, and that there were no longer any energy savings.

“New technology and different ways of living mean that we no longer earn anything (from time change), in fact we don’t save,” Marita Ulvskog, the lawmaker in charge of the time change file, told the EU parliament during a debate on the issue on Monday.

If the Commission’s original proposal had passed, the coming weekend would have been the last occasion to set clocks forward, with EU countries then deciding whether to stick to permanent summer time or switch back in October to permanent winter time.

Countries would not then be able to change their clocks forward and backward during the year, but would be free to decide which time zone they wanted to be in.

The European Union will have 27 members once Britain leaves the bloc. The UK government has indicated it will stick to the current system after Brexit.

The seasonal time shift has also been the subject of debate in the United States, where legislators have tried unsuccessfully to abolish it. For now, Hawaii and most of Arizona do not follow the practice since World War Two of adjusting clocks.

Russia decided in 2011 to switch to permanent summer time in an attempt to improve citizens’ well-being but shifted to permanent winter time in 2014 after public complaints.

The majority of countries outside Europe and North America do not adjust their clocks.

(Reporting by Clare Roth and Philip Blenkinsop; Editing by Frances Kerry)

Source: OANN

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Netflix in talks to buy Hollywood’s historic Egyptian Theatre: source

FILE PHOTO: Grauman's Egyptian theatre is seen as preparations continue for the 81st Academy Awards in Hollywood, California
FILE PHOTO: Grauman's Egyptian theatre is seen as preparations continue for the 81st Academy Awards in Hollywood, California February 19, 2009. REUTERS/Danny Moloshok/File Photo

April 9, 2019

LOS ANGELES (Reuters) – Netflix Inc is in discussions to buy the Egyptian Theatre, a historic movie house in the heart of Hollywood, a source with knowledge of the matter said on Tuesday.

The world’s dominant streaming service would use the Los Angeles venue to host film premieres and other industry events, the source said. There are no current plans to sell tickets to the public.

Netflix has been at odds with many theater owners because it has resisted the traditional industry practice of showing films exclusively in cinemas for roughly 90 days. Instead, Netflix sends theatrical releases to its online service on the same day or just a few weeks after they hit the big screen.

The Egyptian Theatre opened in 1922 with the first-ever movie premiere, a screening of “Robin Hood” starring Douglas Fairbanks.

The current owner is the non-profit American Cinematheque, which hosts screenings of classic films and would still offer programming on weekends, according to the source.

American Cinematheque did not immediately respond to a request for comment.

(Reporting by Lisa Richwine, Editing by Rosalba O’Brien)

Source: OANN

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Schultz details how he’d run the country if elected as an independent president

He’s not a declared presidential candidate yet -- but former Starbucks chairman and CEO Howard Schultz on Wednesday spelled out how he’d run the country as a centrist president not tied to either major political party.

And in a speech at South Florida’s Miami-Dade College, Schultz lamented the worsening partisan gridlock between Democrats and Republicans in Washington.

HOWARD SCHULTZ RIPS GREEN NEW DEAL

"We deserve better than this,” he argued. “The cost of our government’s dysfunction is great - and it impacts all of us. Our biggest problems are not being solved.”

Schultz spotlighted that “this dysfunction cannot stand,” and vowed that as “an independent president, I would be a bridge to bring leaders of both parties together in a way no president has done in recent years.”

He promised that as president he’d “have members of both parties to the White House for coffee as often as I can.”

And he touted that he would “assemble a cabinet that truly represents America in every way, including a cross-partisan group of Democrats, Republicans, and independents—and a greater share of women than any previous president.”

SCHULTZ WARNS DEMOCRATS THEIR 2020 NOMINEE COULD BE 'SPOILER'

Lamenting that federal courts “have become yet another battlefield in the ongoing war between Democratic and Republican leaders,” he vowed to nominate Supreme Court justices only if they could be confirmed by two-thirds of the Senate.

He also outlined that he would “prioritize reforms that break the logjam of extremism and partisanship that have prevented us from coming together and passing common sense legislation. Among those reforms will be aggressive measures to limit the power of lobbyists and special interests in Washington.”

Schultz is in the middle of a national tour – tied to the release of his new book – as he weighs a long shot independent White House run. He’s said he’ll make a final decision on launching a presidential campaign later this year.

Schultz -- a lifelong Democrat -- has said the reason he’s mulling an independent White House bid is because he feels the Democratic Party has moved too far to the left.

At the recent South by Southwest conference and festival in Austin, Texas, Schultz slammed some of the leading contenders for the Democratic presidential nomination.

“Bernie Sanders, Elizabeth Warren, and others are proposing to try and defeat Donald Trump with a far extreme proposal,” he spotlighted.

BIDEN, SANDERS, TOP LATEST 2020 DEMOCRATIC PRIMARY POLLS

Democrats have repeatedly criticized him, saying an independent bid by a billionaire like Schultz who could self-finance his campaign would siphon votes from the eventual Democratic nominee – which they argue would help Republican President Donald Trump win re-election in 2020.

In his speech, Schultz also took aim at Trump, saying “the damage this presidential administration has already inflicted on our democratic institutions and ideals is severe.”

And Schultz promised that if elected, he wouldn’t berate his cabinet and other top officials.

“I won’t humiliate them on Twitter or make decisions so outrageous that they feel compelled to resign in protest,” he explained, in an indirect slight at the president.

Source: Fox News Politics

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Yemeni-Americans to boycott NY Post over 9/11 front page

Yemeni-Americans are criticizing the New York Post over its front page last week that featured a photograph of the burning World Trade Center and a quote from Democratic Muslim Rep. Ilhan Omar that some say was dismissive of the Sept. 11 terrorist attacks.

On Sunday, The New York Times reports the Yemeni American Merchant Association announced a formal boycott of the tabloid after Yemini bodega owners in New York had earlier agreed stop selling the newspaper.

Last week's front page featured a quote that came from a recent speech the Minnesota Democrat gave to the Council on American-Islamic Relations, in which she described the 2001 terrorist attack on the World Trade Center as "some people did something."

"We support free speech, but we will not accept the incitement of violence against Muslims," said Debbi Almontaser, the secretary of the board of directors for the merchants.

"What the New York Post is doing is endangering the lives of American Muslims and people of color," Almontaser said.

The merchants are demanding that the newspaper apologize to Omar and to the Muslim-American community in New York.

A spokeswoman for News Corporation, the parent company of the New York Post, declined to comment.

Also on Sunday, House Speaker Nancy Pelosi said she has taken steps to ensure the safety of Omar after President Donald Trump's retweet of a video that purports to show the congresswoman making the remark along with news footing of the hijacked airplanes hitting the Twin Towers. Trump captioned his tweet with: "WE WILL NEVER FORGET!"

Neither Trump's tweet nor the video included Omar's full quote or the context of her comments, which were about Muslims feeling that their civil liberties had eroded after the attacks.

Pelosi was among Democrats who had criticized Trump over the tweet, with some accusing him of trying to incite violence against the Muslim lawmaker. An upstate New York man recently was charged with making death threats against her.

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Information from: The New York Times, http://www.nytimes.com

Source: Fox News National

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FILE PHOTO: Customers shop in a Sainsbury's store in Redhill
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

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FILE PHOTO: FILE PHOTO: A Canadian dollar coin commonly known as the
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

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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

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Venezuela's Foreign Affairs Minister Jorge Arreaza talks to the media during a news conference in Caracas
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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Avengers fans gather at the TCL Chinese Theatre in Hollywood to attend the opening screening of
Avengers fans gather at the TCL Chinese Theatre in Hollywood to attend the opening screening of “Avengers: Endgame” in Los Angeles, California, U.S., April 25, 2019. REUTERS/Mike Blake

April 26, 2019

LOS ANGELES (Reuters) – Marvel Studios superhero spectacle “Avengers: Endgame” hauled in a record $60 million at U.S. and Canadian box offices during its Thursday night debut, distributor Walt Disney Co said.

Global ticket sales for the film about Iron Man, Hulk and other popular characters reached $305 million for the first two days, Disney said.

(Reporting by Lisa Richwine; Editing by Chizu Nomiyama)

Source: OANN

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