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EU competition head unlikely to rule on UK tax probe this month

FILE PHOTO: European Competition Commissioner Margrethe Vestager attends the weekly College of Commissioners meeting in Brussels
FILE PHOTO: European Competition Commissioner Margrethe Vestager attends the weekly College of Commissioners meeting in Brussels, Belgium, Februray 6, 2019. REUTERS/Yves Herman/File Photo

March 14, 2019

By Foo Yun Chee and Klaus Lauer

BERLIN (Reuters) – European Union regulators are unlikely to rule by the end of March on whether a UK tax scheme for multinationals breaches EU rules on state aid, Europe’s competition chief said on Thursday.

The European Commission opened an investigation in October 2017 into the scheme, which exempts multinationals from UK taxes.

Diageo, London Stock Exchange, Imperial Brands, BBA Aviation, Chemring Group, Euromoney, Inchcape, Meggitt, Smith & Nephew and WPP are among the companies that have referred to the EU investigation in their accounts.

“We would prefer to take it (a decision) before Brexit would happen. I don’t know whether that will happen before the end of March. Likely not,” European Competition Commissioner Margrethe Vestager told reporters on the sidelines of a conference organized by the German cartel office.

Vestager has led an EU crackdown on tax avoidance, ordering Apple, Starbucks, Fiat and others to pay back taxes totaling billions of euros to various EU governments.

Vestager also said that she took Swedish music streaming service Spotify’s complaint about Apple very seriously. Spotify filed a complaint this week charging Apple unfairly limits rivals to its own Apple Music streaming service.

(Reporting by Foo Yun Chee and Klaus Lauer; editing by Larry King)

Source: OANN

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Options-based funds offer succor to investors wary of volatility

FILE PHOTO: The Federal Reserve Board building on Constitution Avenue is pictured in Washington
FILE PHOTO: The Federal Reserve Board building on Constitution Avenue is pictured in Washington, U.S., March 27, 2019. REUTERS/Brendan McDermid

April 3, 2019

By Saqib Iqbal Ahmed

NEW YORK (Reuters) – The Federal Reserve’s pivot on tightening U.S. monetary policy this year and a change in a bond market gauge that is often viewed as a harbinger of a recession pose a dilemma for investors: how to stay in stocks without running the risk of losing one’s shirt when risk assets stumble.

Alternative mutual funds that use options to maintain exposure to stocks even as they tamp down volatility could provide the buffer between mild gains and massive losses.

“We definitely think now is a good time to be looking at strategies that can both participate in market advances and reliably deliver protection,” said David Jilek, chief investment strategist at Gateway Investment Advisers in Boston.

The $8.27 billion Gateway Fund – the oldest and largest fund in Morningstar’s options-based category – has a three-decade history of running low-volatility equity index options strategies.

The fund, which marries stock ownership with index call and put options hedges, aims to capture a portion of equity market returns but with less volatility.

In the fourth quarter when the S&P 500 Total Return index tanked 13.52%, the fund’s Y class shares fell only 7.47%. On the flip side, when stocks rebounded 13.65% in the first quarter, the fund’s shares only gained 5.01%.

Like any investment, gaining protection from volatility carries risk. Over the longterm, investors may miss out on big gains by opting for nearterm protection from huge losses.

For instance, an investment of $10,000 in the Gateway fund 10 years ago would now be worth about $17,500, according to Thomson Reuters data. By comparison, the same amount invested in the S&P 500 S&P 500 Index’s tracking fund, the SPDR S&P 500 ETF Trust, would have returned more than $44,000, albeit with a higher degree of volatility.

“Investors would be better off just putting their money in passive funds,” said Mark Hebner, president of Irvine, California-based independent financial adviser Index Funds Advisors.

Equity markets have enjoyed a period of very low volatility and strong returns over the last decade, but that may be set to change.

Stocks tumbled hard late last year, as investors fretted over mounting concerns about global growth, waning corporate profits, U.S.-China trade tensions and the Fed’s path on rate hikes.

Even though most of those losses have been recouped, jitters remain, with some worrying that the Fed’s dovish tilt is an implicit confirmation of the markets’ anxiety about growth.

The recent inversion of the yield curve — the yield on the 10-year U.S. Treasury bond slipped below 3-month T-bill rates for the first time in more than a decade – is considered a classic signal that a recession may follow in the next one to two years.

“I think there are a lot of advisers who are looking for that downside protection, but they don’t want to bet against the market and they don’t want to be overallocated to bonds. Our strategy fits that need pretty well,” Jilek said.

GRAPHIC: Gateway fund performance, click https://tmsnrt.rs/2VcjmDs

ROCKY PATH AHEAD

Notwithstanding worries about an approaching recession, quitting stocks altogether may prove expensive.

“Historically, equity markets tended to produce some of the strongest returns in the months and quarters following an inversion,” J.P. Morgan strategist Marko Kolanovic said in a recent note.

But it might not be all smooth sailing.

“The last three years of the ’90s bull market were very profitable but very volatile,” said Eli Pars, co-chief investment officer at fund manager Calamos Investments in Chicago. “We may be looking at a period like that again.”

Pars leads strategy for the Calamos Hedged Equity Income Fund, which uses a covered call strategy – selling call options against a portfolio of equities – while using puts to limit downside.

“It’s geared toward investors that may be a little less comfortable – either because where we are in the cycle or just in general – with full-on exposure to the equity market,” Pars said.

For 2018 fourth quarter, the fund fell 6.32%, compared with a drop of 13.52% for the S&P 500 Total Return index, according to Morningstar data. In the 2019 first quarter, the fund’s shares gained 6.38%, compared with a 13.65% gain for stocks.

The fund, a relatively new spinoff from the $6 billion Calamos Market Neutral Income Fund, has gone from managing $10 million to $160 million over the last 18 months, Pars said.

(Reporting by Saqib Iqbal Ahmed; editing by Jennifer Ablan and Leslie Adler)

Source: OANN

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Tennessee survives second-half scare for OT win vs. Iowa

NCAA Basketball: NCAA Tournament-Second Round: University of Iowa vs University of Tennessee
Mar 24, 2019; Columbus, OH, USA; Tennessee Volunteers forward Grant Williams (2) steals the ball from Iowa Hawkeyes forward Tyler Cook (25) in the second half in the second round of the 2019 NCAA Tournament at Nationwide Arena. Mandatory Credit: Kevin Jairaj-USA TODAY Sports

March 24, 2019

Junior power forward Grant Williams scored six of his 19 points in overtime as Tennessee blew a 25-point lead before posting an 83-77 victory over Iowa on Sunday in NCAA Tournament second-round play at Columbus, Ohio.

Senior guard Admiral Schofield also scored 19 points in the South Region contest for the second-seeded Volunteers (31-5). Junior guard Lamonte Turner scored 15 points and junior point guard Jordan Bone added 14 for Tennessee, which never trailed.

The Volunteers will face third-seeded Purdue in the Sweet 16 on Thursday in Louisville, Ky.

Junior guard Jordan Bohannon scored 18 points and junior guard Isaiah Moss added 16 for the 10th-seeded Hawkeyes (23-12). Sophomore forward Luka Garza tallied 13 points and junior power forward Tyler Cook and freshman guard Joe Wieskamp added 11 apiece for Iowa, which shot 39 percent from the field and went 7 of 21 from 3-point range.

Williams made two free throws, Bone knocked down a 3-pointer and Williams added a hoop during Tennessee’s seven-point flurry to begin the overtime. The Hawkeyes finally scored on Garza’s two free throws with 2:24 left and Williams responded with a basket 26 seconds later to push the Volunteers’ lead to 80-73.

Iowa later moved within 81-77 on Bohannon’s layup with 11.2 seconds remaining but Bone made two free throws with 9.5 seconds left as Tennessee closed it out.

The Volunteers shot 46.7 percent from the field and were 8 of 20 from long range.

Turner buried a tiebreaking 3-pointer with 2:17 left in regulation to give Tennessee a 70-67 lead. Junior guard Jamie Bowden split two free throws with 57.9 seconds before Iowa recovered to tie it at 71 as Moss drove for a hoop with 50.9 seconds left and Wieskamp made two free throws with 20.8 seconds remaining.

Iowa began digging itself out of a 21-point halftime deficit behind Cook, who scored 11 points during a 16-4 surge that saw the Hawkeyes pull within 53-44 with 13:35 remaining.

Iowa used a 10-0 run later to trim Tennessee’s lead to 61-58. Bohannon drained a 3-pointer with 8:14 left and Garza added two free throws to cap it.

Garza later converted a three-point play and Moss barely beat the shot clock with a 3-pointer from the left corner to pull the Hawkeyes with 65-64 with 4:23 to play.

Iowa finally caught Tennessee at 67 with 2:39 left when Bohannon made three free throws after a controversial foul call on Turner.

Schofield scored 17 first-half points as the Volunteers built a 49-28 halftime lead.

Schofield’s driving hoop elevated the margin to 25 at 44-19 with 4:22 remaining.

–Field Level Media

Source: OANN

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German Gov Split on Saudi Arms Ban

Germany’s government coalition is split on whether to maintain the ban on arms sales to Saudi Arabia in the face of increasing pressure on France.

The temporary embargo, imposed in November, is due to expire at the end of this week, but a meeting of the national security council (Chancellor Angela Merkel and her senior ministers) ended inconclusively on Wednesday, according to the DPA news agency.

The government parties, the Christian Democratic Union (CDU) and the Social Democratic Party (SPD), are to discuss the issue further. The SPD want to extend the ban: foreign policy spokesman Rolf Mützenich told the Bonn-based General Anzeiger that his party was insisting on the coalition contract, “which mean no more weapons exports to Saudi Arabia if they’re being used in the war in Yemen.”

During Wednesday’s regular government press conference, spokesman Steffen Seibert did not confirm DPA’s account and did not offer any details on the morning’s cabinet meeting, which was attended by French Foreign Minister Jean-Yves Le Drian as part of a new program of closer cooperation between the two countries.

Despite a barrage of questions from reporters, Seibert refused to say when the decision on the embargo would be made, other than to say there were ongoing “intensive discussions” within the government and with Paris, nor when and exactly how the decision would be made public.


Mohammed bin Salman was behind the Yemen War that has claimed the lives of over 13,000 including 3,000 children.

Diplomatic Problem

Germany stopped arms exports to Saudi Arabia last November in the wake of the murder of Saudi journalist Jamal Khashoggi in the country’s consulate in Turkey. At the time, Merkel said that no new exports to the country would be allowed until the circumstances of Khashoggi’s death had been established. But more recently, the chancellor indicated that Germany needed to be more flexible.

But the embargo has caused tensions with France, whose government is committed both to joint military projects with Germany as well as its arms deals with Riyadh, which has led to a diplomatic row between the two countries.

French Ambassador to Germany Anne-Marie Descotes weighed in on the discussion on Monday in an essay published by the German military’s Federal Academy for Security Policy, which complained about the “growing politicization” of Germany’s debate on arms exports.

Descotes warned that this debate would leave companies preferring “German-free arms products” — in other words, weapons systems that did not include German components. Descotes also admonished Germans for treating the debate as if weapons exports were a domestic policy matter, when in fact “it has serious consequences for our bilateral cooperation in the field of defense for the strengthening of European sovereignty.”

(Photo by fahd sadi / Wikimedia Commons)

Pointless Export Controls

The ambassador’s essay touches on the existential dilemma of the European arms industry: that the EU’s internal market is not big enough to sustain its massively expensive projects, though selling weapons beyond Europe means arming murderous repressive regimes involved in horrific wars.

In 2008, the European Council adopted a set of common rules defining the criteria for controlling arms exports. These included, “Respect for human rights in the recipient country and of international humanitarian law by that country.”

EU members states are obliged to deny an export license if “there is a clear risk that the military technology or equipment to be exported might be used for internal repression” and to assess on a case-by-case basis exports to countries where “serious violations of human rights” have been established by the United Nations, the EU, or the Council of Europe.

Saudi Arabia has continually been denounced for human rights abuses against regime opponents, not least the murder of Khashoggi, but also the punishment of Raif Badawi, who in 2014 was sentenced to 10 years in prison and 1,000 lashes for insulting Islam on his blog. Meanwhile, female activists have reported torture and sexual abuse in Saudi prisons.

Saudi Arabia is also been fighting an ongoing war in Yemen that has caused what the UN calls “the worst famine in 100 years,” which is leaving 13 million people facing starvation. Earlier this month investigations by DW and others revealed that German weapons are being used in Yemen, despite Germany’s export controls.

“The re-start of arms exports to Saudi Arabia would be a fatal foreign policy signal and would contribute to the continued destabilization of the Middle East,” Green party spokesman Omid Nouripour told DW. “We need a common European arms export policy that excludes exports into war zones.”


Paul Joseph Watson breaks down how Jewish-Australian activist and military veteran Avi Yemini has been banned from Facebook after publishing a video report that exposed ‘comedian’ Jim Jefferies and proved that he deceptively edited an interview with Yemini to deliberately change the meaning of his words.

Source: InfoWars

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Refugee soccer player happy he's now an Australian citizen

A former Bahraini soccer player and refugee has become an Australian citizen, after a detention in a Thai prison and an extradition request from his homeland raised international concern.

Hakeem al-Araiby told reporters he's "an Aussie now" and is happy to be safe.

The 25-year-old soccer player fled Bahrain citing political repression and had lived under refugee status in Australia for more than a year until he was detained in Bangkok in November while on holiday.

Bahrain wanted him returned to serve a prison sentence for a vandalism conviction he denies, but Thailand withdrew the extradition case last month after sustained pressure from the Australian government and soccer bodies.

He became an Australian citizen along with 200 other people at a ceremony in Melbourne on Tuesday.

Source: Fox News National

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UK Parliament backs bill pushing further Brexit delay as May, Corbyn seek new plan

Britain's Brexit drama went into overtime Wednesday as Prime Minister Theresa May and the country's main opposition sought a compromise deal to prevent an abrupt British departure from the European Union at the end of next week.

In an about-face that left pro-Brexit members of May's Conservative Party howling with outrage, the prime minister sought to forge an agreement with left-wing Labour Party leader Jeremy Corbyn after failing three times to win Parliament's backing for her Brexit deal.

May also said she would ask the EU for a further delay to Britain's departure date — postponed once already — to avert a chaotic and economically damaging no-deal Brexit on April 12. Skeptical lawmakers, reluctant to take her word for it, approved a hastily crafted law that compels May to ask for an extension to the Brexit deadline if a no-deal departure is looming.

"The country needs a solution, the country deserves a solution, and that's what I'm working to find," May told lawmakers before meeting with Corbyn for about two hours.

Afterward, both the government and Labour called the meeting "constructive" and said their teams would hold more in-depth talks Thursday.

May's office said both sides had shown "flexibility and a commitment to bring the current Brexit uncertainty to a close."

Corbyn, more muted, said "the meeting was useful but inconclusive."

"There hasn't been as much change as I expected," he said.

May's change of direction left her caught between angry Conservatives who accuse her of throwing away Brexit, and Labour opponents mistrustful of her sudden change of heart.

Labour lawmaker Paul Sweeney said May's outreach to his party "shows the desperation that she's in."

Pro-Brexit Conservatives, meanwhile, expressed outrage. Two junior ministers quit, and other lawmakers angrily accused May of putting the socialist Corbyn in the Brexit driver's seat.

Her cross-party talks — after almost three years of seeking to push through her own version of a Brexit divorce deal — came amid EU warnings that a damaging withdrawal without a plan was growing more likely by the day.

After lawmakers three times rejected an agreement struck between the bloc and May late last year, the leaders of the EU's 27 remaining countries postponed the original March 29 Brexit date and gave the U.K. until April 12 to approve the divorce deal or come up with a new one.

So far the House of Commons has failed to find a majority for any alternative plan.

"A no deal on 12 April at midnight looks more and more likely," European Commission President Jean-Claude Juncker said Wednesday, adding that would bring disruption for EU citizens and businesses, but much worse economic damage for Britain.

EU Economy Commissioner Pierre Moscovici said a "no-deal" Brexit would mean long lines at borders and paperwork headaches for customs checks on the 11,000 vehicles entering and leaving Britain each day.

Bank of England Governor Mark Carney warned that, even though Britain and the EU both wanted to avoid a no-deal Brexit, it remained the legal default position, and the risk of Britain accidentally crashing out was "alarmingly high."

Carney told Sky News that claims by pro-Brexit politicians that such a situation could be managed were "absolute nonsense."

May's pivot toward Labour points Britain toward a softer Brexit than the one she has championed since British voters decided in June 2016 to leave the EU. Labour wants the U.K. to remain in the EU's customs union — a trading area that sets common tariffs on imports to the bloc while allowing free trade in goods moving between member states.

May has always ruled that out, saying it would limit Britain's ability to forge an independent trade policy.

May's decision to negotiate with Corbyn is risky for both the Conservatives and Labour, and could widen divisions over Brexit that run through both parties.

Labour is formally committed to enacting the voters' decision to leave the EU, but many of the party's lawmakers want a new referendum that could keep Britain in the bloc. They will be angry if the party actively helps bring about the U.K.'s departure.

Meanwhile, May's move infuriated pro-Brexit Conservatives who say Britain must make a clean break with the EU in order to take control of its laws and trade policy.

Former Foreign Secretary Boris Johnson said Brexit "is becoming soft to the point of disintegration."

Junior Wales Minister Nigel Adams quit his post, criticizing May for seeking a deal with "a Marxist who has never once in his political life put British interests first" — a reference to the left-wing Corbyn.

He was followed by junior Brexit minister Chris Heaton-Harris, who said in his resignation letter that the government "should have honored the result of the 2016 referendum" and left the EU on March 29.

Meanwhile, pro-EU lawmakers were not banking on talks between May and Corbyn succeeding. The House of Commons on Wednesday approved a bill to ensure May can't go back on her promise to seek a delay to Brexit rather than let Britain tumble out of the bloc.

The bill, debated and approved in a single day, compels May to seek to extend the Brexit process beyond April 12 in order to prevent a no-deal departure. In a reflection of how divided lawmakers are over Brexit, it passed by a single vote, 313-312.

The bill still needs approval from the House of Lords, Parliament's unelected upper chamber — likely on Thursday. And it does not force the EU to agree to delay Brexit.

EU leaders, weary of the whole Brexit circus, gave a cautious welcome to May's attempt at rapprochement.

German Chancellor Angela Merkel said she would work "until the last hour" to secure an orderly Brexit, but stressed that "these solutions have to be reached above all in Britain itself."

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Britain's televised political melodrama over Brexit — with its weeks of passionate debates, narrow votes and seemingly endless crises — has left EU leaders exasperated, but also fascinated.

The EU's Brexit coordinator, Guy Verhofstadt, joked that "the sessions in the House of Commons have become more popular than the matches in the Premier League."

"The trouble is that it is always a draw in the House of Commons," he said.

Source: Fox News World

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2 suspects in German train attack case extradited to Austria

Czech police say they have extradited to Austria two suspects who allegedly formed a terror cell with a man detained by Austrian authorities over unsuccessful attacks on trains in Germany.

They said Wednesday that the two Iraqi citizens, a 30-year-old man and a 27-year-old woman, were escorted to the Austrian border Tuesday and handed over to Austrian officers. They pleaded not guilty but agreed to be extradited.

They were arrested at Austria's request last week at after arriving at Prague's international airport.

The first suspect, a 42-year-old Iraqi, was arrested in Vienna on March 25. He's suspected of carrying out two attacks late last year, including one in which a high-speed train hit a steel cable stretched over tracks between Nuremberg and Munich. Nobody was hurt.

Source: Fox News World

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FILE PHOTO: Jet Airways aircraft are seen parked at the Chhatrapati Shivaji Maharaj International Airport in Mumbai
FILE PHOTO: Jet Airways aircraft are seen parked at the Chhatrapati Shivaji Maharaj International Airport in Mumbai, India, April 18, 2019. REUTERS/Francis Mascarenhas/File Photo

April 26, 2019

By Aditi Shah and Abhirup Roy

NEW DELHI/MUMBAI (Reuters) – The grounding of India’s Jet Airways is turning into a quick windfall and long-term opportunity for international airlines keen to scoop up nearly a million outbound passengers from what was once the nation’s biggest airline.

Jet, which previously had a fleet of around 120 largely Boeing Co planes, was forced to indefinitely halt all flight operations on April 17 after its banks rejected the carrier’s plea for emergency funds.

The carrier’s descent into crisis has benefited international airlines in the form of rising fares and demand, data showed.

Fares from India to cities such as Dubai, London, New York, Singapore and Bali in the first quarter of 2019 rose between 4 percent and 32 percent from a year ago, according to Indian travel portal MakeMyTrip Ltd.

In the peak travel months of May and June, fares to London have spiked as much as 36 percent and tickets to San Francisco are up nearly 20 percent from a year ago, according to data from travel portal Yatra.com.

“For the next three months it’s actually bonanza time for international players,” said Ashish Nainan, a research analyst at CARE Ratings. “At least until the middle of June, the fares are not going to come down.”

Due to rising demand, even before Jet’s lessors grounded planes, carriers such as British Airways, Cathay Pacific Airways Ltd, Singapore Airlines Ltd and United Airlines saw an up to a 27 percent increase in passenger numbers from India in the last quarter of 2018, data from India’s aviation regulator showed. That is the latest period for which the data is available.

India is one of the world’s fastest-growing aviation markets, clocking 15-20 percent domestic growth in recent years. It has long had only two full-service long-haul carriers, state-run Air India and Jet.

Jet is now hoping to be bailed out by a new investor, with final bids due on May 10.

INCREASING CAPACITY

Before its grounding, Jet had the biggest share of India’s outbound international air traffic, carrying 12 percent of the 7.8 million passengers headed overseas in the Oct-Dec quarter, down from 14 percent a year earlier, data from the Directorate General of Civil Aviation showed.

For an interactive graphic on Jet’s market share, click https://tmsnrt.rs/2WvDQYi

For an interactive graphic on average daily flights by the airline, click https://tmsnrt.rs/2FeFDel

The total number of passengers traveling overseas with Jet fell 10 percent during the last quarter of 2018 even as the outbound travel market grew about 5 percent.

Meanwhile, Singapore Airlines posted a 27 percent increase in passengers from India, Cathay registered 17 percent growth and British Airways saw a 10 percent rise in the same period.

Cathay said the events at Jet combined with increasing demand for travel had led it to deploy larger aircraft with more seats on some Indian routes.

“In the long term we would certainly like to be able to offer more capacity into India, not just on our existing routes but by establishing new services to secondary cities,” Cathay said in a statement.

Singapore Airlines, in an email to Reuters, said the Indian market is “very promising” but declined to give details of airfare levels or demand patterns in the wake of Jet’s exit, citing a quiet period before the release of its annual results.

DOMESTIC GAINS

Jet’s grounding has also had a big impact on the domestic market, with inter-city air fares to major cities such as New Delhi, Mumbai, Bengaluru and Kolkata soaring more than 20 percent in May and June, according to Yatra.com.

The spike in fares is expected to underpin strong earnings for IndiGo and SpiceJet Ltd, which are set to report results for the quarter ended March 31 in the coming weeks.

“Domestic Indian carriers are the main benefactors, but I suspect if Jet fails to be revived by May 10 then Vistara and other airlines that ply international routes, particularly the lucrative Gulf market, are the main winners,” said Shukor Yusof, the head of aviation consultancy Endau Analytics. Vistara is a joint venture of India’s Tata Sons and Singapore Airlines.

Inadequate bilateral traffic rights between India and other countries, however, could be an impediment to foreign carriers’ hopes of winning business lost by Jet, some analysts said.

“Even before Jet’s operational shutdown, international capacity was significantly constrained,” said Kapil Kaul, CEO for South Asia of consultancy CAPA. “We have now more serious capacity challenge … this is unlikely to be stabilized in the near term.”

A new national government likely to be in place sometime after elections end in May is expected to address the international capacity constraints, and once bilateral agreements are eased airlines including Emirates, Turkish and Qatar would immediately benefit, said Kaul.

“We would love to add more flights but we are at the limit of the allocation granted to us for traffic rights,” Emirates Chief Commercial Officer Thierry Antinori told reporters in Dubai on Wednesday.

(Additional reporting by Alexander Cornwell in Dubai, Jamie Freed in Singapore and Tanvi Mehta in Mumbai; Editing by Muralikumar Anantharaman)

Source: OANN

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FILE PHOTO: The company logo for pharmaceutical company AstraZeneca is displayed on a screen on the floor at the NYSE in New York
FILE PHOTO: The company logo for pharmaceutical company AstraZeneca is displayed on a screen on the floor at the New York Stock Exchange (NYSE) in New York, U.S., April 8, 2019. REUTERS/Brendan McDermid

April 26, 2019

By Pushkala Aripaka and Ankur Banerjee

(Reuters) – AstraZeneca Plc beat first-quarter sales and earnings expectations on Friday as the British drugmaker benefited from a push into cancer drugs and emerging markets including China.

Newer treatments such as lung cancer drug Tagrisso, now the company’s top selling medicine, have helped the drugmaker’s return to growth after years of crumbling sales due to patent losses on older drugs.

Sales in China have shown explosive growth, more than doubling since 2012, but AstraZeneca executives on Friday said that may not be sustained.

“The enormous growth you currently see in China, 28 percent, probably is not sustainable, but we feel very bullish that the growth will continue to be at a pace of between 15 percent and 20 percent,” Ruud Dobber, executive vice president, BioPharma, told Reuters.

Shares of the company were down 0.2 percent at 5,878 pence at 1031 GMT.

The turnaround in AstraZeneca’s fortunes has been powered by a push into cancer treatments led by Chief Executive Pascal Soriot, who saw off a 2014 takeover bid from Pfizer in part by promising annual sales of $45 billion by 2023.

In the first quarter, sales from its oncology unit rose 59 percent to $1.89 billion, accounting for 35 percent of total product sales.

The company has moved deeper into cancer therapy market through wide-ranging deals, including those for immunotherapy and targeted therapy. Last month, it agreed a multi-billion dollar oncology deal with Japan’s Daiichi Sankyo Co Ltd.

Interactive graphic on AZN’s top 10 drugs by sales – https://tmsnrt.rs/2W5XIRX

“We’re reaching that point where after years of having to keep faith, we have actually got something tangible to believe in,” Hargreaves Lansdown analyst Nicholas Hyett said.

AstraZeneca also backed its annual sales and earnings forecast and said it has extensively prepared for UK’s anticipated exit from the European Union, even in the event of a no-deal exit.

The company has already spent more than 40 million pounds ($52 million) on Brexit preparations, including stockpiling six weeks’ worth of drugs in the UK and four weeks in continental Europe to guard against shortages.

AstraZeneca said product sales rose 14 percent at constant currency to $5.47 billion in the quarter, led by its lung cancer drug Tagrisso and respiratory treatment Pulmicort.

Interactive graphic on AZN’s quarterly oncology sales – https://tmsnrt.rs/2W9tbCD

China sales increased by 28 percent to $1.24 billion in the quarter, accounting for nearly a quarter of overall product sales.

Core earnings came in at 89 cents per share in the quarter. Analysts on average were expecting core earnings of 85 cents per share and product sales of $5.29 billion, according to a company provided consensus of 19 analysts.

(Reporting by Pushkala Aripaka and Ankur Banerjee in Bengaluru; Editing by Bernard Orr/Keith Weir)

Source: OANN

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149.95

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DNA Force Plus

149.95

119.96

DNA Force Plus is finally here! Now you can support optimal energy levels while adapting your body to handle the daily bombardment of toxins to overhaul your body’s cellular engines with a fan-favorite formula.

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Source: InfoWars

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DNA Force Plus

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149.95

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149.95

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149.95

119.96

DNA Force Plus is finally here! Now you can support optimal energy levels while adapting your body to handle the daily bombardment of toxins to overhaul your body’s cellular engines with a fan-favorite formula.

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149.95

119.96

DNA Force Plus is finally here! Now you can support optimal energy levels while adapting your body to handle the daily bombardment of toxins to overhaul your body’s cellular engines with a fan-favorite formula.

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DNA Force Plus

149.95

119.96

DNA Force Plus is finally here! Now you can support optimal energy levels while adapting your body to handle the daily bombardment of toxins to overhaul your body’s cellular engines with a fan-favorite formula.

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Source: InfoWars

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It’s the type of crime that doesn’t happen every day.

Police in the suburbs of Philadelphia say three suspects broke into a medical facility in Wynnewood, Pennsylvania, last Saturday and fled with 18 colonoscopies – devices used for examining the health of patients’ colons.

Suspects are seen leaving a medical facility in Wynnewood, Pa., allegedly carrying 18 colonoscopes worth about $450,000. (Lower Merion Police Department)

Suspects are seen leaving a medical facility in Wynnewood, Pa., allegedly carrying 18 colonoscopes worth about $450,000. (Lower Merion Police Department)

AMERICAN SUPERMODEL PAT CLEVELAND ‘STAYING STRONG’ FOLLOWING COLON CANCER DIAGNOSIS

The devices were reportedly worth a total of about $450,000, authorities said.

But police were perplexed about what the suspects might have planned to do with the instruments.

“This is not something that a typical pawn shop might accept,” Lower Merion Police Detective Sergeant Michael Vice told Philadelphia’s WCAU-TV. “My feeling would be that it was some type of black market sales.”

Such a market apparently does exist, Lower Merion Police Superintendent Michael J. McGrath told Philly.com.

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“They appeared to know precisely where to go, and they pried the door open,” McGrath said of the suspects, who were captured on surveillance video leaving the facility, carrying bulging backpacks.

Police are hoping the suspects will be caught in the end.

Source: Fox News National

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Listen to https://magaoneradio.net and Listen Daily! Don't Forget to Share Click a Link Below!
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