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Campbell to sell fresh food business for about $500 mln to former executive: WSJ

FILE PHOTO: A worker restocks Campbell's soup cans inside a Fresh & Easy store in Burbank
FILE PHOTO: A worker restocks Campbell's soup cans inside a Fresh & Easy store in Burbank, California October 19, 2012. REUTERS/Mario Anzuoni/File Photo

April 11, 2019

(Reuters) – Campbell Soup Co is nearing a deal to sell its fresh foods unit, including Bolthouse Farms, for about $500 million to a group led by the former chief executive officer of the unit, the Wall Street Journal reported.

Former Bolthouse Chief Executive Officer Jeff Dunn, who was leading the group of investors, is working with private-equity firm Butterfly Equity and has entered into exclusive talks with the U.S. food company for Campbell’s fresh food unit, the Journal said, citing people familiar with the matter.

The two sides could announce a deal as early as Friday, the report said.

A Campbell spokesman declined to comment.

The company’s international unit, along with its fresh food business, has been up for sale since August after Campbell was pressured by investors to boost its profitability and stock performance.

Earlier this year, Campbell said it expects to name buyers for Bolthouse Farms and its international business by the end of fiscal 2019. It had also agreed to sell salsa maker Garden Fresh Gourmet to a unit of Fountain of Health USA, which makes hummus, dips and prepared salads.

(Reporting by Aishwarya Venugopal in Bengaluru; Editing by James Emmanuel)

Source: OANN

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Final Israeli election results could boost Netanyahu’s lead

Israel is hours away from announcing the final results of this week's election, while the nationalist New Right party, led by Education Minister Naftali Bennett and Justice Minister Ayelet Shaked, is still fighting for its political life.

Results tricking out of Israel's Central Elections Committee on Thursday show the two pro-settler ministers are tantalizingly close to crossing the 3.25% electoral threshold needed to get into parliament. Final results are expected later in the day.

Making it into parliament would grow Prime Minister Benjamin Netanyahu's majority even larger. Bennet and Shaked split from their religious-nationalist Jewish Home party hoping to present a hard-line alternative to Netanyahu that could draw in new secular voters.

Their maneuver decidedly backfired, and the New Right had one of the most disappointing performances of the election.

Source: Fox News World

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Inspector General to probe whether acting Pentagon chief helped Boeing

FILE PHOTO: U.S. acting Secretary of Defense Shanahan pauses during remarks on the proposed U.S. Space Force at a think tank in Washington
FILE PHOTO: U.S. acting Secretary of Defense Patrick Shanahan pauses during remarks on the proposed U.S. Space Force at a think tank in Washington, U.S. March 20, 2019. REUTERS/Jonathan Ernst

March 20, 2019

WASHINGTON (Reuters) – The Pentagon Inspector General said on Wednesday that it would investigate a complaint that acting Pentagon chief Patrick Shanahan, a former Boeing executive, violated ethical rules by allegedly promoting Boeing while in office.

Last week Citizens for Responsibility and Ethics in Washington, a watchdog group, filed a complaint with the Inspector General saying that Shanahan had appeared to violate the ethical rules by “promoting Boeing in the scope of his official duties at the Department of Defense (DOD) and disparaging the company’s competitors to his subordinates.”

“The Department of Defense Office of Inspector General has decided to investigate complaints we recently received that Acting Secretary Patrick Shanahan allegedly took actions to promote his former employer, Boeing, and disparage its competitors,” said Dwrena Allen, a spokeswoman for the Inspector General.

Prior to taking over as acting Pentagon chief earlier this year, he was the deputy defense secretary.

Shanahan joined Boeing in 1986 and spent more than three decades there, working on the 737 and 787 Dreamliner. He was also the president and general manager of Boeing Missile Defense Systems and worked on the Apache, Chinook and Osprey military aircraft.

“Acting Secretary Shanahan has at all times remained

committed to upholding his ethics agreement filed with the DoD,” said Lieutenant Colonel Joe Buccino, a Pentagon spokesman.

“This agreement ensures any matters pertaining to Boeing are handled by appropriate officials within the Pentagon to eliminate any perceived or actual conflict of interest issue with Boeing,” Buccino said.

During a Senate Armed Services Committee hearing last week, Shanahan said he would support an investigation by the Inspector General.

(Reporting by Idrees Ali; Editing by Dan Grebler)

Source: OANN

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U.S. FAA says it expects to receive Boeing software fix over the ‘coming weeks’

FILE PHOTO: A Boeing 737 MAX 8 takes off during a flight test in Renton, Washington
FILE PHOTO: A Boeing 737 MAX 8 takes off during a flight test in Renton, Washington, January 29, 2016. REUTERS/Jason Redmond/File Photo

April 1, 2019

WASHINGTON (Reuters) – The U.S. Federal Aviation Administration (FAA) said on Monday it expects to receive Boeing Co’s proposed software enhancement package for the grounded 737 MAX “over the coming weeks” after the company had previously said it planned to submit the fix for government approval by last week.

FAA spokesman Greg Martin said that “time is needed for additional work by Boeing as the result of an ongoing review of the 737 MAX Flight Control System to ensure that Boeing has identified and appropriately addressed all pertinent issues.”

Boeing did not immediately comment.

(Reporting by David Shepardson, editing by G Crosse)

Source: OANN

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‘A target on the back’: North Korea embassy raid thrusts shadowy group into the spotlight

FILE PHOTO: A Spanish National Police car is seen outside the North Korea's embassy in Madrid
FILE PHOTO: A Spanish National Police car is seen outside the North Korea's embassy in Madrid, Spain February 28, 2019. REUTERS/Sergio Perez/File Photo

March 27, 2019

By Josh Smith and Hyonhee Shin

SEOUL (Reuters) – A shadowy group seeking to overthrow North Korean leader Kim Jong Un has been thrust into the international spotlight after a Spanish court investigating a break-in at the North Korean embassy in Madrid named apparent members as suspects.

Cheollima Civil Defense, also known as Free Joseon, first went public in 2017, when it said it was protecting the family of Kim Jong Un’s half brother Kim Jong Nam, who was murdered in a Malaysian airport.

Spanish authorities unsealed court documents on Tuesday accusing at least 10 individuals of storming into the embassy, restraining and beating some staff members and holding them hostage for hours before fleeing with stolen computers and hard drives. Such an action would be one of the most militant operations ever carried out by activists opposed to North Korea’s government.

“Parties seeking to ‘out’ those in Madrid have painted a target on the backs of those seeking only to protect others,” Cheollima Civil Defense said in a website post, apparently acknowledging for the first time its involvement in the raid. “They have chosen to side with Pyongyang’s criminal, totalitarian rulers over their victims.”

It disputed police allegations that weapons or violence were used in the break-in.

Of the 10 suspects, the documents listed the names and birth dates of seven, including citizens of Mexico, the United States, and South Korea. All but one are under 30 years old.

The identification of at least some of the individuals in the group may have undermined their cause and perhaps endangered their lives, analysts and activists said.

“It was too risky,” said one South Korean human rights activist who previously worked with one of the suspects. “Now that their identities are known, they won’t be able to carry out activities as before.”

NORTH KOREA ACTIVIST

The Mexican national named by Spanish authorities as one of the embassy raid’s leaders, Adrian Hong, is a longtime activist who helped found the refugee aid organization Liberty in North Korea (LiNK), and later led an organization preparing for an “imminent, dramatic change” in North Korea, analysts said.

Spanish court documents said Hong played a leading role in the break-in, and that after fleeing to the United States he contacted the FBI to offer information that had been stolen.

Hong could not be reached for immediate comment.

Hong was among several LiNK activists who were arrested and deported from China in late 2006 as they were trying to help a party of North Korean refugees escape.

In a statement on Tuesday, LiNK said Hong had not been involved in any way with the group for more than 10 years and LiNK had no information on his current activities.

Hong told a newspaper in the United Arab Emirates in 2011 that the Arab Spring uprisings then unfolding were “a dress rehearsal for North Korea”.

Kang Cheol-hwan, a defector and founder of the North Korea Strategy Centre in Seoul, said Hong went so far as to travel to Libya to research the aftermath of Muammar Gaddafi’s ouster.

FREE JOSEON

Cheollima Civil Defense takes its name from a winged horse commonly featured in East Asian mythology. Free Joseon, meanwhile, references the last Korean dynasty, and a name that North Korea still often uses to refer to itself.

On its website, the group used soaring language to declare itself the “a provisional government” of Free Joseon as “the sole legitimate representative of the Korean people of the north”.

The website also began to sell “post-liberation blockchain visas” that can be bought with cryptocurrency, and on March 11 it claimed responsibility for defacing the North Korean embassy in Kuala Lumpur.

North Korea has not publicly commented on the Madrid break-in, nor filed a complaint with Spanish police.

The group’s brazen actions led some to speculate that there could be serious dissent against Kim Jong Un taking shape. But other analysts were more sceptical, and say there are lingering questions over possible ties to foreign intelligence agencies.

“I’m still inclined to believe there was some professional involvement, because taking over a foreign mission is not an easy operation,” said Korea Risk Group director Andrei Lankov.

“They took computers and hard disks, but if you don’t have highly specialized capabilities for breaking the codes it’s probably not going to be useful to anyone but major intelligence agencies.”

Cheollima Civil Defense said on Tuesday that no governments were involved or were aware of the embassy operation before hand. It said it had shared “certain information of enormous potential value” with the FBI at the agency’s request, but that agreements of confidentiality “appear to have been broken”.

The U.S. State department said on Tuesday the U.S. government was not involved in the raid.

(Reporting by Josh Smith and Hyonhee Shin; Editing by Alex Richardson)

Source: OANN

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A Very British Lesson for the American Left

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Does the bolt of eight members of Parliament from the British Labour Party out of frustration with its left-wing leader, Jeremy Corbyn, have anything to teach Democrats in the United States?

There's a case for saying no, since Corbyn is well to the left of anyone bidding to lead the Democratic Party. That would include Sen. Bernie Sanders, the democratic socialist who announced Tuesday that he's again seeking the presidency. The independent from Vermont is a lefty for sure, but his worldview is rooted in less radical forms of socialism than Corbyn's, and his foreign policy views are somewhat more conventional than the Labour leader's.

Competing with Sanders for support from the democratic left is Sen. Elizabeth Warren, D-Mass. She proudly insists that she's a capitalist, a boast that would make Corbyn shudder.

Moreover, a core beef of the center-left British rebels has to do with Corbyn's handling of Brexit, an issue that -- mercifully -- the United States does not have to deal with.

Most Labour Party moderates, and the vast majority of its members, want their leadership to push hard for a second referendum to reverse the country's narrow 2016 decision to leave the European Union. But Corbyn is well-known to be, at best, ambivalent about membership in the EU (he opposed it in the past as a capitalist club) and has, up to now, not made a second referendum central to his strategy.

Corbyn's critics like to say he's had a "bad Brexit," by which they mean that he has failed to take advantage of Prime Minister Theresa May's chaotic performance. Her complex approach to leaving the EU has suffered one parliamentary defeat after another and split her Conservative Party.

Indeed, the revolt of the pro-Europe center broadened on Wednesday when three Conservative MPs quit their own party to join the new Independent Group.

Yet Corbyn-led Labour has not opened anything like the large advantage in the polls that an opposition ought to have in these circumstances.

A particular flashpoint is Corbyn's lack of real energy or clarity in confronting an outbreak of left-wing anti-Semitism. This was the prime motivation behind MP Luciana Berger's decision to leave the party. Berger, who is Jewish, has been treated barbarously by some on the "Brocialist" left.

"I cannot remain in a party that I have come to the sickening conclusion is institutionally anti-Semitic," Berger said. On Tuesday, an eighth Labour parliamentarian, Joan Ryan, joined the flight, citing a "culture of anti-Jewish racism" in the party she's belonged to for four decades.

So why should Democrats in the United States care about any of this?

Begin with the fact that Labour and the Democrats have historically had a lot in common as reformist center-left parties. President Bill Clinton and British Prime Minister Tony Blair were close allies in creating a middle-of-the-road politics that sought to accommodate the left to the market rhythms of the Reagan and Thatcher Eras. Blair's "New Labour" in the mid-1990s echoed Clinton's "New Democrats" from a few years earlier.

But the "neo-liberalism" the left associates with Clinton and Blair came under fierce progressive assault after the 2008 economic implosion for being too financier-friendly, insufficiently attentive to rising inequality, and too confident in the benefits of free trade and deregulation. The backlash in Britain was particularly vigorous in response to Blair's strong support for President George W. Bush's invasion of Iraq.

Again, whatever Republicans may claim, Democrats are a long way from embracing Corbynism. But the bitterness of the growing divide between the left and center-left in Britain is a warning of how debilitating intra-progressive strife could become in Congress and in the 2020 primaries.

Given that the defeat of Donald Trump is the absolutely necessary first step toward a more humane politics, more moderate and more adventurous Democrats can ill afford to concentrate their fire on each other. The stakes are too high for self-indulgent sectarianism.

And differences in approach over how to guarantee everyone health coverage or how to fight climate change are less important than agreeing that both problems are urgent and need solving. Remembering that your opponents would prefer to do nothing at all on these issues is a good way to put such disagreements into perspective.

It's an irony of recent Labour Party history that both Blair and Corbyn invoked a commitment to stand up for "the many, not the few" as the battle cry of their very different campaigns. Nothing makes the privileged few happier than a left that becomes too maximalist to win, and then tears itself apart.

(c) 2019, Washington Post Writers Group

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A worker walks on the roof of a new home under construction in Carlsbad
FILE PHOTO: A worker walks on the roof of a new home under construction in Carlsbad, California September 22, 2014. REUTERS/Mike Blake

April 26, 2019

NEW YORK (Reuters) – The U.S. economy is growing at a 2.08% annualized pace in the second quarter based on upbeat data on durable goods orders and new home sales in March, the New York Federal Reserve’s Nowcast model showed on Friday.

This was faster than the 1.92% growth rate calculated by the N.Y. Fed model the week before.

(Reporting by Richard Leong; Editing by Chizu Nomiyama)

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Extraordinary European Union leaders summit in Brussels
FILE PHOTO: Italian Prime Minister Giuseppe Conte arrives at an extraordinary European Union leaders summit to discuss Brexit, in Brussels, Belgium April 10, 2019. REUTERS/Yves Herman

April 26, 2019

(Reuters) – Italian Prime Minister Giuseppe Conte said on Friday he had assured China’s Huawei Technologies that it would not face discrimination in the rollout of Italy’s 5G telecoms network.

Conte was speaking on a visit to China where he said he met Huawei’s chief executive, Ren Zhengfei. The prime minister’s comments were carried in Italy by TV broadcaster Sky Italia.

“I told him that we have adopted some precautions, some measures to protect our interests that demand very high levels of security … not only from Huawei but any company entering into the 5G arena,” he said.

Huawei, the world’s biggest producer of telecoms equipment, is under intense scrutiny after the United States told allies not to use its technology because of fears it could be a vehicle for Chinese spying. Huawei has categorically denied this.

(Writing by by Mark Bendeich; Editing by Angelo Amante)

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U.S. President Trump departs for travel to Indianapolis from the White House in Washington
U.S. President Donald Trump talks to reporters as he departs for travel to Indianapolis, Indiana from the White House in Washington, U.S., April 26, 2019. REUTERS/Jonathan Ernst

April 26, 2019

WASHINGTON (Reuters) – President Donald Trump on Friday was expected to announce his intention to revoke the United States’ status as a signatory of the Arms Trade Treaty, which was signed in 2013 by then-President Barack Obama but never ratified by Congress, two U.S. officials said.

Trump was expected to announce the decision in a speech in Indianapolis, to the National Rifle Association, the officials said. The NRA, a powerful gun lobby group, has long been opposed to the treaty, which was negotiated at the United Nations.

(Reporting By Steve Holland; Editing by Bill Trott)

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A remote controlled robot for the 'Isotopium: Chernobyl' game is seen at the game's location in Brovary
A remote controlled robot for the ‘Isotopium: Chernobyl’ game is seen at the game’s location in Brovary, Ukraine April 25, 2019. REUTERS/Valentyn Ogirenko

April 26, 2019

By Margaryta Chornokondratenko

KIEV (Reuters) – A Ukrainian computer game that brings to life a town abandoned after the Chernobyl nuclear disaster may not sound like everyone’s idea of fun but has attracted 60,000 people globally since its launch in October.

Players of “Isotopium: Chernobyl” drive tanks around the ghost town of Prypyat near Chernobyl, knocking out competitors as they search for an energy source called isotopium and collecting points every time they find some.

While the game takes its theme from the nuclear disaster at Chernobyl in northern Ukraine, which marked its 33rd anniversary on Friday, it was also inspired by the 2009 science fiction film “Avatar”.

Newcomers to the game think they have entered a virtual world when in fact they are controlling a real robot, equipped with a camera and computer, which makes its way around a model of the town rendered down to the tiniest detail.

“When playing our game, for the first 5-10 minutes many players don’t understand that it is not fictional,” said the game’s co-founder Sergey Beskrestnov. “They message us saying: ‘You have cool texture, you have good graphics, your designer is good, well done. You have a cool operating system.’

“People then reply: ‘It is not an operating system, it is real,’ and the player can’t believe it is real,” said Beskrestnov, speaking mid-game from Prypyat city square as he towers over surrounding five-storey buildings.

Kiev-born Beskrestnov was just 12 years old when on April 26, 1986 a botched test at the nuclear plant in the then Soviet Union sent clouds of smoldering nuclear material across large swathes of Europe, forced over 50,000 people, including Beskrestnov’s family, to evacuate and poisoned unknown numbers of workers involved in its clean-up.

Beskrestnov and his partner Alexey Fateyev used Google maps and hundreds of pictures from the Chernobyl area to recreate Prypyat landmarks, including residential buildings, a hotel, concert hall, amusement park and a stadium.

The game’s real-scale model occupies a 180 square meter (1,938 sq. ft) basement of a residential building in the Ukraine city of Brovary, just 150 km (93 miles) from the Chernobyl Exclusion Zone and 30 km east of Kiev.

Miniature radioactivity warning signs, graffiti on the walls of abandoned buildings and tables and chairs left scattered inside a small cafe all add to the creepy atmosphere of a once lively town.

“It’s a really neat concept …,” Shaun Prescott wrote in a review of the game published by PC Gamer magazine in January. “Controlling the tanks is kinda cumbersome, but they are tanks, after all.”

An attentive player will notice at least one inaccuracy – the real Chernobyl nuclear power plant is not located in town as it is in the game.

It costs $9 to immerse in the atmosphere of a post-apocalyptic town for an hour but only 20 people at a time can play simultaneously. Beskrestnov’s company, Remote Games, said 62,615 people around the world have registered to play the game, including around 15,000 in France and 10,000 in the United States.

A camera fixed on top of a moving tank broadcasts high quality signal in real time, allowing players from as far apart as Australia and Canada enjoy the game without facing any time delay in delivering video signals.

Its creators next ambition is to devise a game featuring the colonization of Mars in which 1,000 people will be able to simultaneously control robots on different missions involved in the operation.

“Many people advise us to contact Elon Musk directly because it resonates his dreams and ideas,” Beskrestnov jokes.    

(Editing by Susan Fenton)

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FILE PHOTO: A Starbucks sign is show on one of the companies stores in Los Angeles, California
FILE PHOTO: A Starbucks sign is show on one of the companies stores in Los Angeles, California, U.S. October 19,2018. REUTERS/Mike Blake/File Photo

April 26, 2019

(Reuters) – Initial optimism over first-quarter results from Starbucks Corp was waning fast on Wall Street on Friday, as analysts questioned the longer-term prospects of its new sales push given subdued overall customer traffic numbers especially in China.

The company on Thursday beat brokerage estimates for quarterly same-store sales on the back of demand for its new Cloud Macchiato, Matcha tea and cold brews in the United States.

However, BTIG’s Peter Saleh was one of a number of sector analysts who said while customers forking out for higher-priced new drinks had helped drive growth in same-store sales, “anemic” traffic at cafes remained a concern.

He and others pointed to a 1 percent decline in footfall at cafes in the Chinese market, viewed as crucial to the chain’s growth for the foreseeable future.

More broadly, transaction numbers, the substitute analysts use for customer traffic, were unchanged in all three of the company’s global regions.

Shares in the company, which hit a record high after the results on Thursday, fell 1 percent in morning trade.

“We remain cautious given near-term headwinds surrounding China, including cannibalization, increasing competition (and) a slowing economy,” Wedbush analyst Nick Setyan said.

Starbucks has also poured money into beefing up its delivery network in China as it battles with local startup Luckin Coffee, whose speedy growth led it to file for an IPO in the United States earlier this week.

New menu items and partnerships with delivery services, the heart of the company’s strategy to win back customers lost to artisanal coffee shops and cheaper fast-food rivals, did help Starbucks’ sales in its home market.

However, analysts said growth in China may continue to be subdued.

Wells Fargo analyst Bonnie Herzog said she expects store expansion in China to take priority over comparable sales growth.

She downgraded her rating on Starbucks’ to “market perform” from “outperform”, arguing that the company facing tough sales comparisons later on in 2019 from last year and the current rich valuation of shares meant the stock had limited room to rise.

“Investors will be hesitant to invest new money in a stock with a topline that, while still strong, is unlikely to meaningfully accelerate,” Herzog said.

Still, the company’s solid same-store growth in the United States, improving profit margins and a lower tax rate for the rest of the year led at least 6 Wall Street brokerages to raise their price targets on the stock to as high as $81.

11 of 29 brokerages rate Starbucks “buy” or higher, 17 “hold” and 1 “sell” or lower. Their median price target is $75.

(Reporting by Uday Sampath in Bengaluru)

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