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India auctions fugitive billionaire’s art, raises $8 million

A staff member speaks on his phone as artworks once part of billionaire jeweller Nirav Modi's collection are seen on display ahead of their auction at a gallery in Mumbai
A staff member speaks on his phone as artworks once part of billionaire jeweller Nirav Modi's collection are seen on display ahead of their auction at a gallery in Mumbai, India, March 25, 2019. REUTERS/Danish Siddiqui

March 26, 2019

By Sai Sachin Ravikumar

MUMBAI (Reuters) – Indian tax authorities raised about $8 million in an auction on Tuesday of rare oil paintings that were once part of fugitive billionaire jeweler Nirav Modi’s collection and seized by the government.

Tax authorities who are pursuing Modi in connection with the country’s largest bank fraud appointed auction house Saffronart to carry out the sale of 68 works.

The sale will be challenged in court on Wednesday by lawyers for a company controlled by Modi that owns the artwork.

Auctioneers say the sale, which was originally expected to raise up to $7.3 million, was the first of its kind in a country where tax authorities have usually auctioned property, gold and luxury items, but not art.

“Until a few years ago, the tax authorities really didn’t know the value of art,” said Farah Siddiqui, an art adviser who advised clients eyeing Modi’s collection.

The 48-year-old Modi, whose diamonds have sparkled on Hollywood stars, is one of the prime accused in a $2 billion loan fraud at state-run Punjab National Bank. Modi denies the charges and says they are politically motivated.

The auction comes just weeks before a national election and as Indian Prime Minister Narendra Modi faces pressure to bring back Nirav Modi (no relation), who fled the country last year and has been residing in Britain.

He was arrested last week by British authorities and remanded in custody after he appeared before a London court. India asked Britain last August to extradite Modi.

An oil painting by Raja Ravi Varma, a 19th century painter considered among India’s finest, fetched the taxman 161 million rupees ($2.3 million), while another by modernist V.S. Gaitonde raised $3.7 million.

Over 80 percent of the works on auction were sold, Saffronart Chief Executive Dinesh Vazirani said.

India Law Alliance, the law firm representing the company controlled by Modi that owned the art, is challenging the court order that allowed the auction. The case will be heard by the Bombay High Court on Wednesday, a lawyer at the firm told Reuters.

Vijay Aggarwal, a lawyer for Modi, declined to comment on the holding of the auction.

(Reporting by Sai Sachin Ravikumar; Editing by Frances Kerry and Alison Williams)

Source: OANN

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Japan’s March household spending seen rising for fourth straight month: Reuters poll

FILE PHOTO: Shopper looks at food at a supermarket in Tokyo
FILE PHOTO: A shopper looks at food at a supermarket in Tokyo February 26, 2015. REUTERS/Yuya Shino

April 26, 2019

TOKYO (Reuters) – Japan’s household spending likely rose for a fourth straight month in March, a Reuters poll found on Friday, but weak factory output and exports could still push the economy into a mild contraction in the first quarter.

Household spending is expected to have risen 1.7 percent in March from a year earlier, the poll of 14 economists showed, the same rate of growth posted in February.

“The employment situation is favorable but wage recovery remains moderate, which is why private consumption lacks momentum,” said Takeshi Minami, chief economist at Norinchukin Research Institute.

“Still, domestic demand will likely be relatively solid till a planned sales tax hike in October. But after that, the economy is seen weakening unless external demand becomes strong enough to boost Japan’s economy.”

Japan is scheduled to raise its sales tax hike to 10 percent from 8 percent in October, after Prime Minister Shinzo Abe twice postponed it.

The last sales tax increases from 5 percent in 2014 dealt a blow to private consumption, which accounts for about 60 percent of the economy.

The government will announce household spending data at 8:30 a.m. Japan time on Friday, May 10 (2330 GMT, May 9).

Recent data showed Japan’s industrial output fell in January-March at the fastest pace in almost five years, while exports fell for a fourth straight month.[nL3N2272AR][nL3N21T1SQ]

(Reporting by Kaori Kaneko; Editing by Kim Coghill)

Source: OANN

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Body found in Minnesota matches missing 2-year-old girl

Authorities say a body found in Minnesota matches the description of a 2-year-old girl whose mother was killed in Milwaukee this past week.

Minnesota Bureau of Criminal Apprehension spokesman Bruce Gordon said Saturday the body has been preliminarily identified as Noelani Robinson.

Gordon says the body was found in Steele County, Minnesota, south of Minneapolis. He says the Minnesota agency is waiting for formal identification and preliminary autopsy results from the medical examiner.

Authorities had asked "the entire nation" for help finding Noelani after the arrest of the girl's father, who is suspected of fatally shooting her mother in Milwaukee.

Milwaukee police Chief Alfonso Morales said Friday the suspect, Dariaz Higgins, has been providing police with information on the whereabouts of his daughter, but it all has "proven to be untrue."

Source: Fox News National

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Comcast first quarter profit beats Wall Street, misses on revenue

FILE PHOTO: The Comcast NBC logo is shown on a building in Los Angeles, California
FILE PHOTO: The Comcast NBC logo is shown on a building in Los Angeles, California, U.S. June 13, 2018. REUTERS/Mike Blake/File Photo

April 25, 2019

By Helen Coster and Arjun Panchadar

(Reuters) – Comcast Corp reported first-quarter profit on Thursday that beat Wall Street estimates, boosted by strong additions of high-speed internet customers in a quarter that painted another mixed picture for the biggest U.S. cable provider.

Overall revenue missed analyst estimates and Comcast lost more video and phone customers than expected. Revenue from NBCUniversal’s cable networks, filmed entertainment and theme parks also fell short of expectations.

Like others in the cable television industry, Comcast is grappling with the appeal to customers of rival offerings from Alphabet Inc’s YouTube TV and subscription video services like Netflix Inc.

Earlier this week AT&T Inc and Verizon Communications Inc both reported losing more video customers than analysts expected.

AT&T shed a net 544,000 premium TV subscribers, a category that includes DirecTV satellite and U-verse television, while Verizon lost 53,000 Fios video customers.

Philadelphia-based Comcast said it lost 121,000 video customers in the quarter, more than the 29,000 it lost last quarter and the 109,000 estimated by analysts, according to research firm FactSet.

In response, the company is striving to build new services on top of its broadband network, and revenue from the high-speed internet business climbed 10 percent to $4.58 billion in the first quarter as it added 375,000 subscribers.

Those net subscriber additions beat the average analyst estimate of 356,000, according to FactSet, but were down slightly from 379,000 in the same period a year earlier.

Comcast is betting that its redesigned Xfinity X1 cable box, which allows users to find content across live TV, on-demand and streaming services like Netflix on a single menu, will help retain and attract subscribers.

Revenue at its NBCUniversal business, which includes NBC Entertainment and Universal Pictures, dropped 12.5 percent to $8.31 billion.

In January NBCUniversal announced it will launch an advertising-supported TV streaming service in 2020, which will be free for NBCUniversal’s pay-TV customers as well as Sky customers internationally.

Filmed entertainment revenue rose 7.4 percent to $1.77 billion, boosted by movies including “How to Train Your Dragon: The Hidden World” and “Us” while theme park revenue slipped 0.4 percent to $1.28 billion.

Revenue from broadcast television dropped 29.4 percent to $2.47 billion, though the company also broke out figures that showed revenue rose when excluding 2018 Olympics and Super Bowl from the prior-year comparison.

Comcast, which bought the British pay-TV group Sky last year, said revenue reported from Sky was $4.8 billion.

Net income attributable to Comcast rose to $3.55 billion, or 77 cents per share, from $3.12 billion, or 66 cents per share a year earlier. Excluding items, the company earned 76 cents per share, beating estimates of 68 cents per share, according to IBES data from Refinitiv.

Comcast’s overall revenue rose 18 percent to $26.86 billion, but fell short of Wall Street expectations of $27.20 billion.

(Reporting by Helen Coster and Arjun Panchadar)

Source: OANN

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Oil hits 2019-high on OPEC supply cuts, U.S. sanctions on Iran and Venezuela

FILE PHOTO - Pumpjack is seen at the Sinopec-operated Shengli oil field in Dongying, Shandong
FILE PHOTO - A pumpjack is seen at the Sinopec-operated Shengli oil field in Dongying, Shandong province, China January 12, 2017. REUTERS/Chen Aizhu

February 18, 2019

By Henning Gloystein

SINGAPORE (Reuters) – Oil prices rose to their highest levels in 2019 on Monday, lifted by OPEC-led supply cuts and by U.S. sanctions on Iran and Venezuela.

U.S. West Texas Intermediate (WTI) crude oil futures hit $56 per barrel for the first time this year, before edging back to $55.89 per barrel by 0051 GMT. That was still 0.5-percent above their last settlement.

International Brent crude futures hit a 2019-high of $66.61 per barrel early on Monday before easing to $66.47 per barrel, still up 0.3 percent from their last close.

For both benchmarks, those were their highest levels since November 2018.

The Organization of the Petroleum Exporting Countries (OPEC), as well as some non-affiliated producers like Russia, agreed late last year to cut output by 1.2 million barrels per day (bpd) to prevent a large supply overhang from swelling more.

Further pushing up crude prices have been U.S. sanctions against oil exporters and OPEC-members Iran and Venezuela.

At least partly offsetting these supply falls has been a surge in U.S. crude oil production by more than 2 million bpd in 2018, to a record 11.9 million bpd.

And there are signs that U.S. output will rise further.

U.S. energy firms last week increased the number of oil rigs looking for new production by three, to a total of 857, energy services firm Baker Hughes said in a weekly report last Friday. RIG-OL-USA-

That means the U.S. rig count is higher than a year ago when under 800 rigs were active.

“The U.S. shale industry continues to show signs of resilience. It increased drilling activity for the third time in four weeks last week,” ANZ bank said.

(Reporting by Henning Gloystein; Editing by Joseph Radford)

Source: OANN

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Australia, Netherlands start talks with Russia over MH17 downing: Dutch minister

People gather near a monument for the victims of the Malaysia Airlines flight MH17 plane crash to mark the fourth anniversary of the accident in Donetsk Region
FILE PHOTO - People gather near a monument for the victims of the Malaysia Airlines flight MH17 plane crash to mark the fourth anniversary of the accident near the village of Hrabove (Grabovo) in Donetsk Region, Ukraine July 17, 2018. REUTERS/Alexander Ermochenko

March 27, 2019

SYDNEY (Reuters) – Dutch and Australian government officials have met their Russian counterparts to discuss who is responsible for the 2014 downing of Malaysian Airlines Flight 17, Dutch Foreign Minister Stef Blok said on Wednesday.

All 298 people aboard were killed when the aircraft, en route from Amsterdam to Kuala Lumpur, was shot down over territory held by pro-Russian separatists in eastern Ukraine. About two-thirds of the dead were Dutch.

“The first trilateral meeting has recently taken place,” Blok told reporters in Sydney.

“We cannot go into the content of the process because confidentiality is vital here, but I can say this – we remain committed to achieving truth, justice and accountability.”

In May 2018, the two governments said they would hold Russia responsible after investigators traced the “Buk” missile system they said had been used to bring it down to the 53rd Anti-Aircraft Brigade, based in Russia’s western city of Kursk.

At the time, President Vladimir Putin responded that the airliner had not been brought down by a Russian missile.

Australia has said it will seek unspecified financial damages for families of its 38 citizens killed.

(Reporting by Colin Packham; Editing by Clarence Fernandez)

Source: OANN

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Man sentenced to 29 years for Indiana post office pipe bomb

A man has been sentenced to 29 years in prison for sending a pipe bomb that exploded at a northwestern Indiana post office, injuring a worker.

Eric Krieg of Munster, Indiana, was sentenced Thursday after pleading guilty in December to making an unregistered destructive device and other charges.

Defense lawyer Kevin Milner said his client had previously lived a "model life" with a family and children. Krieg declined to elaborate in court on his lawyer's remarks.

In an earlier court filing, Krieg said he mailed the pipe bomb Sept. 6, 2017. It was addressed to an attorney who was representing a client who filed a lawsuit against Krieg. The bomb exploded at the East Chicago post office, injuring a worker.

Source: Fox News National

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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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Well, Joe Biden didn’t exactly clear the field.

I don’t think it matters much that Biden waited until yesterday to become the 20th Democrat vying for the nomination, even though it exposed him to weeks of attacks while he seemed to be dithering on the sidelines.

A much greater warning sign, in my view, is the largely negative tone surrounding his debut. He is, after all, a former vice president, highly praised by Barack Obama, who has consistently led in the early primary polls, and beating President Trump in head-to-head matchups. Yet much of the press is acting like he’s an old codger and it’s just a matter of time before he keels over politically.

This is all the more remarkable in light of the fact that the vast majority of journalists and pundits know and like Joe Biden and his gregarious personality.

The reason is that Biden, after a half-century in politics, lacks excitement, and the press is magnetically attracted to novel and unorthodox types like Beto and Mayor Pete. You don’t see Biden on the cover of Vanity Fair, and a grind-it-out win by a conventional warrior doesn’t set journalistic hearts racing.

JOE BIDEN ANNOUNCES 2020 PRESIDENTIAL BID: 3 THINGS TO KNOW ABOUT THE FORMER VICE PRESIDENT

For many in the media, Biden isn’t liberal enough, at least not for the post-Obama era. He doesn’t promise free college and free health care and has a history of working with Republicans, such as John McCain (whose daughter Meghan loves him, and Biden will hit “The View” today.)

What’s more, Biden’s campaign style — speak at rallies, rack up union endorsements — seems hopelessly old-fashioned when we measure popularity by Instagram followers. News outlets are predicting he’ll have trouble getting in the online fundraising game, leaving him reliant on big donors, which used to be standard practice.

And then there’s the age thing. Biden would be the oldest president to be inaugurated, at 78, and he looked a step slow in encounters with reporters yesterday and a few weeks ago.

But what if the journalists are in something of a Twitter bubble, and the actual Democratic Party is much more moderate? We saw that with the spate of allegations by women of unwanted touching, which dominated news coverage until polls showed that most Dem voters weren’t concerned. In that wider world, the Scranton guy’s connection to white, working-class voters could help him against Trump in the industrial Midwest.

SUBSCRIBE TO HOWIE’S MEDIA BUZZMETER PODCAST, A RIFF OF THE DAY’S HOTTEST STORIES

Biden denounced the president’s term as an “aberrant moment” in his launch video, saying four more years would damage the country’s character and “I cannot stand by and watch that happen.”

But first, he’d have to win the nomination in the face of an unenthusiastic press corps.

A New York Times news story said Biden would be “marshaling his experience and global stature in a bid to lead a party increasingly defined by a younger generation that might be skeptical of his age and ideological moderation.”

The Washington Post quoted Democratic strategists as saying that Biden faces an “uphill battle” and “isn’t necessarily the heir apparent to Obama, despite being his No. 2 in the White House for eight years. They argue voters will judge Biden by the span of his decades-long career and are worried the veteran pol hasn’t yet found a winning formula for his own candidacy.”

The liberal Slate said the ex-veep’s rivals view him as a “paper tiger”:

“Biden is something more like a 2016 Jeb Bush: a weak establishment favorite whose time might be past … Biden’s biggest challenge in the primary will be a compromised past spanning nearly 50 years.”

“Compromised” suggests a history of scandal, yet what Slate means is political baggage, such as his backing of a Clinton-era crime bill unpopular with black voters today. Yet I think the rank and file isn’t as concerned about a vote back in 1994, or even the Anita Hill hearings, as the chattering classes.

BIDEN’S SENATE RECORD, ADVOCACY OF 1994 CRIME BILL WILL BE USED AGAINST HIM, EX-SANDERS STAFFER SAYS

One of the few left-leaning pundits to suggest the press is underestimating Biden is data guru Nate Silver at 538:

“Media coverage could nonetheless be a problem for Biden. Within the mainstream media, the story of Biden winning the nomination will be seen as boring and anticlimactic. That tends not to lead to favorable coverage. Meanwhile, some left-aligned media outlets may prefer candidates who are some combination of more leftist, more wonkish, more reflective of the party’s diversity, and more adept on social media.

“If Biden is framed as being out of touch with today’s Democratic Party and that narrative is repeated across a variety of outlets, it could begin to resonate with voters who don’t buy it initially. If he’s seen as a gaffe-prone candidate, then minor missteps on the campaign trail could be blown up into big fumbles.”

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Look, it’s entirely possible that Biden could stumble, get lapped in fundraising and just be outclassed by younger and savvier rivals. He was hardly a great candidate in 1987 and in 2008.

But if the former vice president finds his footing and the field narrows, the press will be forced to change its tune, and we’ll see a spate of stories about how Joe Biden has “grown.”

Source: Fox News Politics

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South Africa's 400m Olympic gold medallist and world record holder Wayde van Niekerk looks on as he attends South African Championships in Germiston
South Africa’s 400m Olympic gold medallist and world record holder Wayde van Niekerk looks on as he attends South African Championships in Germiston, South Africa, April 25, 2019. REUTERS/Siphiwe Sibeko

April 26, 2019

GERMISTON, South Africa (Reuters) – Olympic 400 meters champion Wayde van Niekerk has backed South African compatriot Caster Semenya in her battle with the International Association of Athletics Federations (IAAF), which now appears to have taken a new twist.

Semenya, a double 800 meters Olympic gold medalist, is waiting for the outcome of her appeal to the Court of Arbitration for Sport (CAS) to halt the introduction of new regulations by governing body IAAF that would require her to take medicine to limit her natural levels of testosterone.

The IAAF wants female athletes with differences of sexual development who run in events from 400 meters to a mile, to reduce their blood testosterone level to below five (5) nmol/L for a period of six months before they can compete, saying they have an unfair advantage.

“She’s fighting for something beyond just track and field, she’s fighting for woman in sports, in society and I respect her for that,” Van Niekerk told reporters.

“I will support her and with the hard work and talent that she’s been putting into the sport. With what she believes in and what she’s dreaming for, I’ve got a lot of respect for her.

“I really hope and pray that everything just goes from strength to strength for her.”

Semenya has sprung a surprise at the on-going South African Athletics Championships though, ditching the 800 meters and instead competing over 1,500 and 5,000-metres – the latter one would not require her to medically lower her testosterone level.

She stormed to victory in the 5,000-metres final in a modest time of 16:05.97, but looked to have lots left in the tank as she passed the finish line.

Semenya beat fellow Olympian and defending national 5,000m champion Dominique Scott in Thursday’s final but the latter admitted she is unsure whether the 800m specialist could be a serious Olympic contender over the longer distance.

“Honestly‚ I have no idea‚” Scott said. “Before today I probably would have said no. It’s hard to compare a 5,000 at altitude to a 5,000 at sea level.

“But I think she’s an amazing runner and I don’t think there’s any limit or ceiling on what she can do.”

Van Niekerk, the 400m world record holder, had to abort his comeback from a knee injury, that had sidelined him for 18 months, following a combination of cold weather and a wet track.

“We are trying to take the correct decisions now early in the year so as not to put myself in any harm,” he said.

“It was a bit chilly this entire week prepping and coming through here as well it was quite cold and it caused bit of tightness in my leg. We decided to not risk it.

“My recovery is going well and I would like to be back in competition this year, but will only do so if I can deliver a good performance.

“I am a competitor and respect my opponents, so I need to be at my best when I return.”

(Reporting by Nick Said, additional reporting by Siyabonga Sishi; editing by Sudipto Ganguly)

Source: OANN

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The suspected leader of the Easter Sunday bombings in Sri Lanka died in the Shangri-La hotel, one of six hotels and churches targeted in the attacks that killed at least 250 people, authorities said.

Police said Mohamed Zahran, leader of the National Towheed Jamaat militant group, had been killed in one of the bombings. The group’s second in command was also arrested, police said.

Zahran amassed an online following for his hate-filled sermons. Some were delivered before a banner depicting the Twin Towers.

Sri Lankan authorities said Friday that Islamic cleric Mohammed Zahran died in the blast at the Shangri-La hotel during the Easter Sunday atatcks that killed at least 250 people. 

Sri Lankan authorities said Friday that Islamic cleric Mohammed Zahran died in the blast at the Shangri-La hotel during the Easter Sunday atatcks that killed at least 250 people.  (YouTube)

Australian Prime Minister Scott Morrison said Friday that the attackers responsible for the bombings were supported by the Islamic State group. Around 140 people in Sri Lanka had connections to ISIS, Sri Lankan President Maithripala Sirisena said.

“We will completely control this and create a free and peaceful environment for people to live,” he said.

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Investigators determined the attackers received military training from someone called “Army Mohideen.” They also received weapons training overseas and at some locations in Sri Lanka, according to authorities.

A copper factory operator arrested in connection with the bombings helped Mohideen make improvised explosive devices, police said. The bombings have led to increased security throughout the island nation as authorities warned of another attack.

Source: Fox News World

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