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Economists trim euro zone’s inflation and growth forecasts: ECB survey

A woman buys bread on a supermarket in Lisbon
A woman buys bread on a supermarket in Lisbon August 30, 2011. REUTERS/Jose Manuel Ribeiro

April 11, 2019

FRANKFURT (Reuters) – Economists are trimming their inflation and growth forecasts for the euro zone and warning of the risk of further cuts as uncertainties ranging from Brexit to trade wars make companies more reluctant to invest, a European Central Bank survey showed on Thursday.

The ECB’s quarterly Survey of Professional Forecasters showed prices were now expected to grow by 1.4 percent this year, 1.5 percent the next and 1.6 percent in 2020 – a cut of 10 basis points in each year compared to January’s survey.

(Reporting By Francesco Canepa; Editing by Angus MacSwan)

Source: OANN

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Tennessee woman with murder warrant arrested at Waffle House naked and armed, police say

A woman sought by authorities in Tennessee in connection with a 2017 murder was taken into custody early Saturday -- armed and wearing just her birthday suit, according to police.

Authorities were called to a Waffle House in south Nashville near Interstate 24 after receiving a report of a naked man and woman with a weapon inside the restaurant.

Staff and customers were evacuated due to feeling threatened as the woman, later identified as 19-year-old Montessa Tate-Thornton, waved the gun around and acted erratically, according to an arrest affidavit obtained by FOX17.

INDIANAPOLIS SHOOTINGS LEAVE 6 DEAD IN 24-HOUR PERIOD

Officers arriving at the restaurant found Tate-Thornton wearing no clothes and "screaming, sweating excessively and making incoherent statements," WKRN reported.

The 19-year-old reportedly admitted to police she had used marijuana and cocaine.

Tate-Thornton had an outstanding warrant for 1st-degree murder and aggravated robbery in connection with the death of a 23-year-old man in December 2017, according to FOX17.

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Police took the 18-year-old into custody without incident. Besides the charges linked to the outstanding warrant, Tate-Thornton was also charged with possession of a weapon while under the influence, public indecency, being a felon in possession of a weapon and public intoxication.

The other naked suspect at the restaurant was identified as 34-year-old Larico Nixon, who was also arrested and charged with public indecency, public intoxication and being a felon in possession of a weapon, officials said.

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The 19-year-old is expected in court on Monday, according to FOX17.

Source: Fox News National

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Biden accuser Lucy Flores says she’d vote for him over Trump despite misconduct claims

Lucy Flores, the Democrat and former candidate for lieutenant governor in Nevada, said she would support former Vice President Joe Biden over President Trump when asked who would get her vote in 2020 -- even though she's accused Biden of touching her inappropriately.

"That's not even a question. Of course I would support Biden,” Flores told CBS News on Monday.

In a piece published in New York Magazine’s The Cut last week, Flores accused Biden of putting his hands on her shoulders, smelling her hair and kissing the top of her head when he appeared at a rally in Las Vegas to support her 2014 campaign.

Biden has released multiple statements addressing the claim.

“In my many years on the campaign trail and in public life, I have offered countless handshakes, hugs, expressions of affection, support, and comfort. And not once – never – did I believe I acted inappropriately. If it is suggested I did so, I will listen respectfully. But it was never my intention,” Biden said Sunday. “I may not recall these moments the same way, and I may be surprised at what I hear. But we have arrived at an important time when women feel they can and should relate their experiences, and men should pay attention. And I will.”

WIFE OF FORMER DEFENSE SECRETARY CALLS BIDEN PHOTO MISLEADING

Flores told CBS News she was not satisfied with Biden’s response because he hasn’t acknowledged that his behavior was “inappropriate.”

"I think that in terms of when he talks about his motivation etcetera we really need to also acknowledge that it's not, it's not about the intent, it is about the person on the receiving end of that behavior, that unwanted behavior, and the way in which it makes that person feel, especially, especially in a situation where you have that kind of a power imbalance going on," Flores explained.

CLICK HERE TO GET THE FOX NEWS APP

A second woman has come forward with claims against the former vice president. Amy Lappos, a former congressional aide to Rep. Jim Himes, D-Conn., said Biden grabbed her head and neck and rubbed noses.

“When he was pulling me in, I thought he was going to kiss me on the mouth,” Lappos told The Hartford Courant.

Source: Fox News Politics

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EU regulators charge BMW, Daimler, Volkswagen with emissions collusion

FILE PHOTO: A logo of German luxury carmaker BMW, is seen ahead of the company's annual news conference in Munich
FILE PHOTO: A logo of German luxury carmaker BMW, is seen ahead of the company's annual news conference in Munich, Germany, March 20, 2019. REUTERS/Michael Dalder/File Photo

April 5, 2019

BRUSSELS (Reuters) – EU antitrust regulators charged BMW, Daimler and Volkswagen on Friday for hindering competition on emission cleaning technology between 2006 to 2014.

The European Commission said it had sent statements of objections setting out the charges to the companies, nearly two years after carrying out dawn raids at the their premises.

“BMW, Daimler and VW participated in a collusive scheme, in breach of EU competition rules, to limit the development and roll-out of emission cleaning technology for new diesel and petrol passenger cars sold in the European Economic Area,” the EU competition enforcer said.

(Reporting by Foo Yun Chee, Editing by Gabriela Baczynska)

Source: OANN

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New York County to Declare Measles State of Emergency, Ban Unvaccinated Minors From Public Spaces

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Free Trade is Pro-Middle Class and Pro-Family

The most sophisticated proponents of protectionism acknowledge the economic arguments in favor of free trade, but portray their position as transcending economics and the free traders’ superficial hunger for “cheap stuff.”

These protectionists instead champion loftier goals such as the political and societal benefits of a robust middle class. But, leaving aside the economic superiority of free trade, protectionism still falls short of free trade in achieving the protectionists’ own stated goals; it is free trade which preserves peace and community.

Advocates for tariffs often support them in the name of supporting a strong middle class, the existence of which, they claim, provides political and societal benefits that outweigh the overall efficiency losses tariffs bring about. It is true that, in the short term, taxing foreign steel benefits the specific industries whose output is steel, and may increase the number of jobs and/or salaries in steel production. However, this is at the expense of every industry whose inputs include steel. Steel factory employment comes at the cost of car factory employment. Now, what if foreign steel were not taxed, but rather a lower-order good, closer to immediate consumption, like foreign cars were instead taxed?

It is more difficult to see why taxing cars would hurt American workers other than reducing the workers’ — and everyone else’s — purchasing power qua consumers. But it would still be harmful. It would hurt taxi drivers, Uber, Lyft, truck and limo drivers, and all of the industries tied to the people and cargo transported in these vehicles. Descending the ladder of production, what if tariffs were placed on finished consumer goods? Would this benefit the middle class producers of this consumer good without hurting other middle class workers? Not necessarily, because, as mentioned above, higher prices for consumer goods may reduce domestic spending in other domestic industries, and in that way hurt middle-class workers. Moreover, these tariffs hurt foreign consumers, who in turn will have less money with which to purchase U.S. products.

If one’s goal is to use tariffs to bring net benefit to the domestic middle-class, even if it means sacrificing overall economic efficiency, then such a person faces a metaphysically possible but hopelessly complex puzzle, like running through a rainstorm and dodging all of the raindrops. The odds that political actors will identify the ideal tariff, dispassionately enforce it without being swayed by special interests or the temptation of increasing revenue, prevent illegal circumvention of the tariff, and then constantly adjust the tariff in real time as changing conditions render a new tariff rate necessary, are somewhat below fifty percent.

Social Benefits

Free trade, in addition to allowing consumers to amass larger amounts of essentials like baby food, fuel, and medical equipment, offers social and political benefits. Free trade creates special interests for peace. With or without tariffs, there are special interest groups that pine for war. Those who sell the weapons and the inputs for the weapons to belligerent states seek war. Free trade counteracts these entrenched bellicose interests with countervailing self-interest. Companies that do business between countries, companies that produce part of their product here, and part there, that buy from here and sell there, desire peace. When war comes, sanctions, blockades, and bombs will ruin those companies, and so they have a motivation to be lobbyists for peace. A free trade regime does not categorically rule out war, but it is a force that will, other things equal, tend to make war less common, and that’s of monumental importance.

Free Trade Brings Communities Together

Protectionism, rather than holding communities together, can sever them across political lines. When empires collapse, or parts of nations are conquered by their neighbors, tariffs along new political boundaries can sever traditional bonds. If Armenians within the Ottoman empire are separated from Armenians within the Russian empire by trade restrictions, then that community is deprived of the full benefits of commerce, by which individuals’ fates are tangibly and symbiotically intertwined. If Austrians suddenly find themselves within the new borders of Italy, and can trade more freely with southern Italians hundreds of miles away than they can with their former compatriots whom they can see across the border, previously existing local bonds are weakened. In other situations, bonds that would have formed in the counterfactual world with free trade, do not.

There is more to life than accumulating material possessions. I have met few or no people who think otherwise. Those who value strong families, tight communities, hard work, and spiritual health should favor free trade so that the inputs upon which workers’ livelihoods depend are not artificially scarce; so that tariffs do not drain the purchasing power of consumers whose demand supports industries; so that nations are more reluctant to war with one another; and so that commerce, one of the great engines of social harmony, is not hindered between neighbors kept apart by political boundaries.



The conspiracy regarding college admissions has become a perfect example of the greed of the elite and could actually take down Deep State actors in the process.

Source: InfoWars

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Barrasso: Republicans Against Trump Order Want Border Security

Every one of the 12 Republican Senators who voted for a resolution opposing President Donald Trump's emergency order for the border is committed and united to securing the border, despite their vote, Sen. John Barrasso, who voted against the resolution, said Friday.

"I stand with the president," the Wyoming Republican told Fox News' "America's Newsroom." "His veto will be sustained. There aren't enough votes to override the president."

Republicans who voted against the resolution want money to be there to secure the border, but wanted that to happen through the appropriations process, not through an executive order, said Barrasso, adding that he would have also preferred to do it that way.

"Ever since Donald Trump was elected president what we have seen are Democrats obstructing him every step along the way that they can do it, even to the expense of our own nation's security," said Barrasso. "To me, border security is national security."

Barrasso also commented about the upcoming procedural being called on the "Green New Deal," which to him shows Democrats are "careening over the liberal cliff," with their support of the environmental plan and other "hard-line" positions, including on healthcare and abortion.

"We have presidential candidates on the Democrat side who want to eliminate immigration customs enforcement," said Barrasso. "They want to eliminate some of the barriers that are already there. We need barriers at the border. The president has been strong on that. They want to take them down."

Barrasso also spoke out about the New Zealand mosque massacres, saying it is "disturbing" when such murders happen when people are worshipping.

"The world continues to be a dangerous place and we'll continue in the war against terrorism," said the senator.

Source: NewsMax Politics

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The Wider Image: China's start-ups go small in age of 'shoebox' satellites
LinkSpace’s reusable rocket RLV-T5, also known as NewLine Baby, is carried to a vacant plot of land for a test launch in Longkou, Shandong province, China, April 19, 2019. REUTERS/Jason Lee

April 26, 2019

By Ryan Woo

LONGKOU, China (Reuters) – During initial tests of their 8.1-metre (27-foot) tall reusable rocket, Chinese engineers from LinkSpace, a start-up led by China’s youngest space entrepreneur, used a Kevlar tether to ensure its safe return. Just in case.

But when the Beijing-based company’s prototype, called NewLine Baby, successfully took off and landed last week for the second time in two months, no tether was needed.

The 1.5-tonne rocket hovered 40 meters above the ground before descending back to its concrete launch pad after 30 seconds, to the relief of 26-year-old chief executive Hu Zhenyu and his engineers – one of whom cartwheeled his way to the launch pad in delight.

LinkSpace, one of China’s 15-plus private rocket manufacturers, sees these short hops as the first steps towards a new business model: sending tiny, inexpensive satellites into orbit at affordable prices.

Demand for these so-called nanosatellites – which weigh less than 10 kilograms (22 pounds) and are in some cases as small as a shoebox – is expected to explode in the next few years. And China’s rocket entrepreneurs reckon there is no better place to develop inexpensive launch vehicles than their home country.

“For suborbital clients, their focus will be on scientific research and some commercial uses. After entering orbit, the near-term focus (of clients) will certainly be on satellites,” Hu said.

In the near term, China envisions massive constellations of commercial satellites that can offer services ranging from high-speed internet for aircraft to tracking coal shipments. Universities conducting experiments and companies looking to offer remote-sensing and communication services are among the potential domestic customers for nanosatellites.

A handful of U.S. small-rocket companies are also developing launchers ahead of the expected boom. One of the biggest, Rocket Lab, has already put 25 satellites in orbit.

No private company in China has done that yet. Since October, two – LandSpace and OneSpace – have tried but failed, illustrating the difficulties facing space start-ups everywhere.

The Chinese companies are approaching inexpensive launches in different ways. Some, like OneSpace, are designing cheap, disposable boosters. LinkSpace’s Hu aspires to build reusable rockets that return to Earth after delivering their payload, much like the Falcon 9 rockets of Elon Musk’s SpaceX.

“If you’re a small company and you can only build a very, very small rocket because that’s all you have money for, then your profit margins are going to be narrower,” said Macro Caceres, analyst at U.S. aerospace consultancy Teal Group.

“But if you can take that small rocket and make it reusable, and you can launch it once a week, four times a month, 50 times a year, then with more volume, your profit increases,” Caceres added.

Eventually LinkSpace hopes to charge no more than 30 million yuan ($4.48 million) per launch, Hu told Reuters.

That is a fraction of the $25 million to $30 million needed for a launch on a Northrop Grumman Innovation Systems Pegasus, a commonly used small rocket. The Pegasus is launched from a high-flying aircraft and is not reusable.

(Click https://reut.rs/2UVBjKs to see a picture package of China’s rocket start-ups. Click https://tmsnrt.rs/2GIy9Bc for an interactive look at the nascent industry.)

NEED FOR CASH

LinkSpace plans to conduct suborbital launch tests using a bigger recoverable rocket in the first half of 2020, reaching altitudes of at least 100 kilometers, then an orbital launch in 2021, Hu told Reuters.

The company is in its third round of fundraising and wants to raise up to 100 million yuan, Hu said. It had secured tens of millions of yuan in previous rounds.

After a surge in fresh funding in 2018, firms like LinkSpace are pushing out prototypes, planning more tests and even proposing operational launches this year.

Last year, equity investment in China’s space start-ups reached 3.57 billion yuan ($533 million), a report by Beijing-based investor FutureAerospace shows, with a burst of financing in late 2018.

That accounted for about 18 percent of global space start-up investments in 2018, a historic high, according to Reuters calculations based on a global estimate by Space Angels. The New York-based venture capital firm said global space start-up investments totaled $2.97 billion last year.

“Costs for rocket companies are relatively high, but as to how much funding they need, be it in the hundreds of millions, or tens of millions, or even just a few million yuan, depends on the company’s stage of development,” said Niu Min, founder of FutureAerospace.

FutureAerospace has invested tens of millions of yuan in LandSpace, based in Beijing.

Like space-launch startups elsewhere in the world, the immediate challenge for Chinese entrepreneurs is developing a safe and reliable rocket.

Proven talent to develop such hardware can be found in China’s state research institutes or the military; the government directly supports private firms by allowing them to launch from military-controlled facilities.

But it’s still a high-risk business, and one unsuccessful launch might kill a company.

“The biggest problem facing all commercial space companies, especially early-stage entrepreneurs, is failure” of an attempted flight, Liang Jianjun, chief executive of rocket company Space Trek, told Reuters. That can affect financing, research, manufacturing and the team’s morale, he added.

Space Trek is planning its first suborbital launch by the end of June and an orbital launch next year, said Liang, who founded the company in late 2017 with three other former military technical officers.

Despite LandSpace’s failed Zhuque-1 orbital launch in October, the Beijing-based firm secured 300 million yuan in additional funding for the development of its Zhuque-2 rocket a month later.

In December, the company started operating China’s first private rocket production facility in Zhejiang province, in anticipation of large-scale manufacturing of its Zhuque-2, which it expects to unveil next year.

STATE COMPETITION

China’s state defense contractors are also trying to get into the low-cost market.

In December, the China Aerospace Science and Industry Corp (CASIC) successfully launched a low-orbit communication satellite, the first of 156 that CASIC aims to deploy by 2022 to provide more stable broadband connectivity to rural China and eventually developing countries.

The satellite, Hongyun-1, was launched on a rocket supplied by the China Aerospace Science and Technology Corp (CASC), the nation’s main space contractor.

In early April, the China Academy of Launch Vehicle Technology (CALVT), a subsidiary of CASC, completed engine tests for its Dragon, China’s first rocket meant solely for commercial use, clearing the path for a maiden flight before July.

The Dragon, much bigger than the rockets being developed by private firms, is designed to carry multiple commercial satellites.

At least 35 private Chinese companies are working to produce more satellites.

Spacety, a satellite maker based in southern Hunan province, plans to put 20 satellites in orbit this year, including its first for a foreign client, chief executive Yang Feng told Reuters.

The company has only launched 12 on state-produced rockets since the company started operating in early 2016.

“When it comes to rocket launches, what we care about would be cost, reliability and time,” Yang said.

(Reporting by Ryan Woo; Additional reporting by Beijing newsroom; Editing by Gerry Doyle)

Source: OANN

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German drug and crop chemical maker Bayer holds annual general meeting
Werner Baumann, CEO of German pharmaceutical and chemical maker Bayer AG, attends the annual general shareholders meeting in Bonn, Germany, April 26, 2019. REUTERS/Wolfgang Rattay

April 26, 2019

By Patricia Weiss and Ludwig Burger

BONN (Reuters) – Bayer shareholders vented their anger over its stock price slump on Friday as litigation risks mount from the German drugmaker’s $63 billion takeover of seed maker Monsanto.

Several large investors said they will not support aspirin investor Bayer’s management in a key vote scheduled for the end of its annual general meeting.

Bayer’s management, led by chief executive Werner Baumann, could see an embarrassing plunge in approval ratings, down from 97 percent at last year’s AGM, which was held shortly before the Monsanto takeover closed in June.

A vote to ratify the board’s actions features prominently at every German AGM. Although it has no bearing on management’s liability, it is seen as a key gauge of shareholder sentiment.

“Due to the continued negative development at Bayer, high legal risks and a massive share price slump, we refuse to ratify the management board and supervisory board’s actions during the business year,” Janne Werning, representing Germany’s Union Investment, a top-20 shareholder, said in prepared remarks.

About 30 billion euros ($34 billion) have been wiped off Bayer’s market value since August, when a U.S. jury found the pesticide and drugs group liable because Monsanto had not warned of alleged cancer risks linked to its weedkiller Roundup.

Bayer suffered a similar defeat last month and more than 13,000 plaintiffs are claiming damages.

Bayer is appealing or plans to appeal the verdicts.

Deutsche Bank’s asset managing arm DWS said shareholders should have been consulted before the takeover, which was agreed in 2016 and closed in June last year.

“You are pointing out that the lawsuits have not been lost yet. We and our customers, however, have already lost something – money and trust,” Nicolas Huber, head of corporate governance at DWS, said in prepared remarks for the AGM.

He said DWS would abstain from the shareholder vote of confidence in the executive and non-executive boards.

Two people familiar with the situation told Reuters this week that Bayer’s largest shareholder, BlackRock, plans to either abstain from or vote against ratifying the management board’s actions.

Asset management firm Deka, among Bayer’s largest German investors, has also said it would cast a no vote.

Baumann said Bayer’s true value was not reflected in the current share price.

“There’s no way to make this look good. The lawsuits and the first verdicts weigh heavily on our company and it’s a concern for many people,” he said, adding it was the right decision to buy Monsanto and that Bayer was vigorously defending itself.

This month, shareholder advisory firms Institutional Shareholder Services (ISS) and Glass Lewis recommended investors not to give the executive board their seal of approval.

(Reporting by Patricia Weiss and Ludwig Burger; Editing by Alexander Smith)

Source: OANN

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Sudan’s military, which ousted President Omar al-Bashir after months of protests against his 30-year rule, says it intends to keep the upper hand during the country’s transitional period to civilian rule.

The announcement is expected to raise tensions with the protesters, who demand immediate handover of power.

The Sudanese Professionals Association, which is spearheading the protests, said Friday the crowds will stay in the streets until all their demands are met.

Shams al-Deen al-Kabashi, the spokesman for the military council, said late Thursday that the military will “maintain sovereign powers” while the Cabinet would be in the hands of civilians.

The protesters insist the country should be led by a “civilian sovereign” council with “limited military representation” during the transitional period.

The army toppled and arrested al-Bashir on April 11.

Source: Fox News World

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FILE PHOTO: Small toy figures are seen in front of a displayed Huawei and 5G network logo in this illustration picture
FILE PHOTO: Small toy figures are seen in front of a displayed Huawei and 5G network logo in this illustration picture, March 30, 2019. REUTERS/Dado Ruvic

April 26, 2019

By Charlotte Greenfield

WELLINGTON (Reuters) – China’s Huawei Technologies said Britain’s decision to allow the firm a restricted role in building parts of its next-generation telecoms network was the kind of solution it was hoping for in New Zealand, where it has been blocked from 5G plans.

Britain will ban Huawei from all core parts of 5G network but give it some access to non-core parts, sources have told Reuters, as it seeks a middle way in a bitter U.S.-China dispute stemming from American allegations that Huawei’s equipment could be used by Beijing for espionage.

Washington has also urged its allies to ban Huawei from building 5G networks, even as the Chinese company, the world’s top producer of telecoms equipment, has repeatedly said the spying concerns are unfounded.

In New Zealand, a member of the Five Eyes intelligence sharing network that includes the United States, the Government Communications Security Bureau (GCSB) in November turned down an initial request from local telecommunication firm Spark to include Huawei equipment in its 5G network, but later gave the operator options to mitigate national security concerns.

“The proposed solution in the UK to restrict Huawei from bidding for the core is exactly the type of solution we have been looking at in New Zealand,” Andrew Bowater, deputy CEO of Huawei’s New Zealand arm, said in an emailed statement.

Spark said it has noted the developments in Britain and would raise it with the GCSB.

The reports “suggest the UK is following other European jurisdictions in taking a considered and balanced approach to managing supplier-related security risks in 5G”, Andrew Pirie, Spark’s corporate relations lead, said in an email.

“Our discussions with the GCSB are ongoing and we expect that the UK developments will be a further item of discussion between us,” Pirie added.

New Zealand’s minister for intelligence services, Andrew Little, did not immediately respond to a request for comment.

British culture minister Jeremy Wright said on Thursday that he would report to parliament the conclusions of a government review of the 5G supply chain once they had been taken.

He added that the disclosure of confidential discussions on the role of Huawei was “unacceptable” and that he could not rule out a criminal investigation into the leak.

The decisions by Britain and Germany to use Huawei gear in non-core parts of 5G network makes it harder to prove Huawei should be kept out of New Zealand telecommunication networks, said Syed Faraz Hasan, an expert in communication engineering and networks at New Zealand’s Massey University

He pointed out Huawei gear was already part of the non-core 4G networks that 5G infrastructure would be built on.

“Unless there is a convincing argument against the Huawei devices … it is difficult to keep them away,” Hasan said.

(Reporting by Charlotte Greenfield; Editing by Himani Sarkar)

Source: OANN

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FILE PHOTO: The logo commodities trader Glencore is pictured in Baar
FILE PHOTO: The logo of commodities trader Glencore is pictured in front of the company’s headquarters in Baar, Switzerland, July 18, 2017. REUTERS/Arnd Wiegmann

April 26, 2019

(Reuters) – Glencore shares plunged the most in nearly four months on Friday after news overnight that U.S. regulators were investigating whether the miner broke some rules through “corrupt practices”.

Shares of the FTSE 100 company fell as much as 4.2 percent in early deals, and were down 3.5 percent at 310.25 pence by 0728 GMT.

On Thursday, Glencore said the U.S. Commodity Futures Trading Commission is investigating whether the company and its units have violated some provisions of the Commodity ExchangeAct and/or CFTC Regulations.

(Reporting by Muvija M in Bengaluru)

Source: OANN

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