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Trump critic is favorite to become Australian prime minister

If Australian opposition leader Bill Shorten becomes prime minister and visits the U.S., he can expect questions about a radio interview he gave three years ago in which he said some of then-presumptive Republican presidential candidate Donald Trump's views were "barking mad."

Trump seemed a long shot for the White House when Shorten gave the interview on May 27, 2016, during Australia's last election campaign.

And Shorten, who leads the center-left Labor Party, seemed a long shot to become Australia's prime minister.

He was trying to become the first Australian opposition leader to oust a prime minister after a single three-year term since 1931, when the Great Depression helped scuttle a Labor government.

But Shorten came closer than many had expected.

Conservative Prime Minister Malcom Turnbull scraped back into power with a single-seat majority in the House of Representatives, where parties need a majority of seats to form a government. Turnbull's conservative coalition had lost 14 lawmakers.

Turnbull pounced on Shorten's swipe at Trump as evidence that the Labor leader wasn't fit to lead Australia.

Turnbull accused Shorten of potentially offending Australia's most important strategic ally by breaking a long-standing Australian convention of avoiding taking sides in U.S. political contests.

Shorten had told a Darwin radio station that a Trump administration was among "the sort of scenarios you hope don't emerge."

"I think Donald Trump's views are just barking mad on some issues," Shorten said.

"America's a great friend of Australia; whoever they dish up we'll work with, but wow, Trump's sort of — it's sort of the ultimate victory of celebrity politics," he said.

Shorten described Trump's popularity as the "ultimate protest vote," and warned that Australia should pursue policies of fairness and equality.

The political landscapes in Australia and the United States have transformed since 2016.

Shorten's party goes into the 2019 election campaign as a firm favorite. His party has led the conservative coalition in most opinion polls in the last three years.

Turnbull was replaced by senior minister Scott Morrison in a revolt by ruling Liberal Party lawmakers at least partly because of the government's poor performance in opinion polls.

The government lost two lawmakers and its majority in continuing blood-letting from the leadership change.

Despite Labor's dominance in the polls, Shorten's personal popularity has remained relatively low. But Australia's system of compulsory voting means Shorten's lack of charisma is not the political handicap it might be in U.S politics.

Because failing to vote is punished with a fine, voter turnout in Australia is always high even when the choices are not particularly attractive.

While there are Labor lawmakers who are more popular with the Australian public, Shorten is a power broker who has enjoyed strong support within his party for the past six years of his leadership.

The government had depicted Shorten as a puppet of the labor unions that donate to Labor's campaign war chest.

The government has also portrayed Shorten as being reckless with policies that would harm the Australian economy.

Energy policy is as contentious as any in Australia, which is the world's biggest exporter of coal and liquid natural gas.

Labor wants to cut Australia's greenhouse gas emissions by 45 percent below 2005 levels by 2030.

Australia committed in the Paris Agreement on climate change to reduce its emissions by 26 or 28 percent by 2030.

Shorten, 51, was first elected to Parliament in the same 2007 election that swept Labor to power for the first time in more than 11 years. Morrison entered Parliament in the same election.

Shorten has deep labor union roots. His father was a waterside laborer and union official, and his mother was a lawyer and university academic. He became involved in Labor politics as a student and was soon touted as a potential prime minister. He worked for less than two years as a lawyer before becoming a union official.

Shorten first came to national attention as national secretary of the Australian Workers Union in 2006 when the Beaconsfield gold mine collapse in Tasmania state killed one miner and left two trapped underground for two weeks.

His regular news conferences on behalf of the union representing the miners created a national profile before he entered Parliament the following year.

But as a party power broker, Shorten played a key role in deposing two prime ministers through internal government leadership ballots in the face of poor opinion polling during Labor's chaotic six years in office. His history of fickle loyalty in ousting leaders he once supported may come back to haunt him as he seeks to lead the country.

Source: Fox News World

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Ageless in Japan: Suntory sells ‘world whisky’ blend as premium tipple

Suntory's chief blender Shinji Fukuyo smells Ao, Suntory's high-end world whisky, during its promotional event in Tokyo
Suntory's chief blender Shinji Fukuyo smells Ao, Suntory's high-end world whisky, during its promotional event in Tokyo, Japan April 4, 2019. Picture taken on April 4, 2019. REUTERS/Ritsuko Ando

April 15, 2019

By Ritsuko Ando and Martinne Geller

TOKYO/LONDON (Reuters) – Japan’s Suntory Holdings, faced with a whisky crunch, is selling a rare mix sourced from around the world as premium whisky, aiming to elevate the status of young blends among discerning drinkers who often swear by aged single malts.

Whisky makers globally, and in Japan in particular, have been forced to suspend some aged bottles in recent years as a surge in demand for mature whisky depleted stocks.

Last year, Suntory suspended the popular 17-year Hibiki – a glass of which Bill Murray’s character in the film ‘Lost in Translation’ famously promoted, saying “For relaxing times, make it Suntory time”. Now it sells online for 40,000 yen ($357) versus 10,000 yen some years ago.

In a bid to expand its options, Suntory, on Tuesday, started selling an unusual alternative, “Ao”, a no-age statement (NAS) blend made with whisky from Scotland, the United States, Ireland, Japan and Canada.

Priced at 5,000 yen per bottle, it is a five-country blend rarely ever tried by whisky makers, but possible for Suntory given the global assets at its disposal following its $13.6 billion purchase of U.S. spirits maker Beam in 2014.

While Ao will be sold exclusively in Japan, with 30,000 dozen-bottle cases being shipped this year, it will be closely watched by rivals across the $6 billion global industry as they too grapple with dwindling supplies of premium stocks.

Unlike other hard liquor such as vodka or gin, whisky needs to be aged in barrels over anywhere between three and 50 years, meaning producers must predict demand decades in advance. As a result, many have introduced NAS whiskies to manage supply.

Global distilleries including The Macallan, owned by Edrington, The Glenlivet, owned by Pernod Ricard, and Diageo’s Talisker have launched NAS variants in recent years.

Pernod says its NAS Founder’s Reserve has been a great success with a new generation of drinkers, becoming the sixth-biggest single malt Scotch globally in 2017 two years after it was launched, when there was a temporary shortage of The Glenlivet 12 Year Old.

    “Since then we have been working hard to future-proof this expression and ensure that supply is secured for the long term,” said Miriam Eceolaza, marketing director for malts at Pernod’s Chivas Brothers whisky unit, adding that Glenlivet 12 is back in some markets, such as Britain, with more to come.

Most NAS whiskies are priced modestly versus longer-aged whiskies, due in part to the industry’s success at persuading drinkers that older whiskies are better.

“It’s no mystery you can charge a lot for something with a very old age statement on it, but how can you add value to younger, NAS whisky, thus making it more profitable?” asked Chuck Cowdery, publisher of The Bourbon Country Reader.

“If you can make a valuable product from a larger inventory pool and be successful with it, that becomes more than just a prestige project. That’s something you can take to the bank.”

PRICING

However, whisky experts say it is hard to say whether a “world whisky” will catch on in the premium category.

Ao’s price is more than Chita, a no-age Japanese single grain, or a 10-year old Laphroaig, both owned by Suntory and available for around 3,400 yen online.

It also costs double rival Nikka’s From the Barrel, a malt and grain blend with no-age statement.

But some observers say Ao’s price does not look outrageous versus say the 63,000 yen Ichiro’s Malt & Grain Maduro blend – one of the few other bottles sourced from five countries but using older whiskies matured in French oak wine barrels.

Suntory, which started in 1899 by making and selling wine, denies “Ao” is a result of the shortage, although its executives said they wanted to expand the range of what is available. The company is private, but its food and non-alcoholic drinks arm, Suntory Beverage & Food is listed.

In addition to the Hibiki 17, Suntory last year halted sales of its 12-year Hakushu too, while rival Nikka, owned by Asahi Group Holdings, has also suspended aged single malts.

“It pains us that there are still limitations in supply, even though we have established increased production,” Kengo Torii, head of the Suntory’s whisky division, has said.

PROVENANCE

Ao’s launch comes amid growing questions around provenance, as loose Japanese regulations have meant imported whisky, when bottled or blended in the country, can be passed off as local.

With Ao, Suntory is aiming at transparency, while showing off its global assets and blending skills.

Suntory’s chief blender, Shinji Fukuyo, says he was initially wary of the assignment.

“I couldn’t at all imagine what it would taste like,” he told Reuters ahead of the launch, adding it took multiple trials to make the “Ao” blend.

Whisky from Alberta Distillers in Canada is Ao’s biggest constituent, followed by liquid from Jim Beam’s Clermont and Booker Noe distilleries. Scotland’s Ardmore and Glen Garioch, Ireland’s Cooley and Japan’s Yamazaki and Hakushu distilleries contribute to a lesser extent.

Some whisky aficionados will always seek an age statement for sign of quality, Bernstein’s European beverages analyst Trevor Stirling said, adding that some high-quality blends, like the Johnnie Walker Blue, Green and Gold, deserve recognition.

“So there are some whisky snobs who say if it isn’t single malt I’m not drinking it … I think blended whiskies are unfairly looked down upon.”

(Reporting by Ritsuko Ando in TOKYO and Martinne Geller in LONDON; Editing by Himani Sarkar)

Source: OANN

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Citizenship question on U.S. Census would cause big Latino undercount: study

People walk with flags as they take part in the annual Hispanic Day Parade in New York
People walk with flags as they take part in the annual Hispanic Day Parade in New York, October 12, 2014. REUTERS/Eduardo Munoz

March 22, 2019

By Nick Brown

NEW YORK (Reuters) – The Trump administration’s proposal to ask a citizenship question on the 2020 U.S. census could lead to an undercount of some 4.2 million among Hispanics, costing their communities federal aid and political representation, according to a study by Harvard researchers released on Friday.

The study by the Harvard Kennedy School’s Shorenstein Center on Media, Politics and Public Policy is the first to assess the impact of the proposed question since U.S. Commerce Secretary Wilbur Ross announced plans last year to reinstate it for the first time in more than half a century.

The study found the question could lead to census-takers missing between 3.9 million and 4.6 million Hispanics nationwide – or between 7.7 percent and 9.1 percent of the Hispanic population recorded in the last U.S. census, in 2010.

Demographers, data experts and even Census Bureau officials have said the question risks frightening immigrants into abstaining from the count in a climate of stepped-up immigration enforcement. Because decennial census data determines how congressional seats are apportioned – and how the U.S. government allocates $800 billion a year in federal aid – an undercount could prove disastrous in some communities.

Harvard said it surveyed some 9,000 people, about half of whom were Hispanic. Researchers found the citizenship question would make all respondents – but especially Hispanics – more likely to skip key questions about race and ethnicity, and less likely to report Hispanic members of their households.

The study may have undersold the impact of the question, the researchers said. “Not only are we university affiliated academic researchers, and not the U.S. Government… but our respondents were paid panelists and thus financially incentivized to complete the survey,” they said.

The U.S. Commerce Department declined to comment.

Although a citizenship question has routinely appeared on some Census Bureau surveys, it has not appeared on the mandatory, decennial U.S. census since 1950. Ross says it is needed to help the U.S. Department of Justice better enforce federal protections for minority voters.

Two federal judges have blocked the question for now, siding with Democratic states and cities that alleged Ross’ reasoning was a pretext to repress immigrant participation. The U.S. Supreme Court is slated to hear an appeal on April 23.

The Census, estimated to cost taxpayers $16 billion, becomes more expensive when fewer people respond, as the bureau must pay door-knockers to follow up with noncompliant households. But in testimony earlier this month before the U.S. House Committee on Oversight and Reform, Ross said the census “is adequately funded and prepared for contingencies.”

His agency has come under fire for not testing the citizenship question itself. The Census Bureau says it is planning to survey the effects of the question in July.

(Reporting by Nick Brown)

Source: OANN

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Exclusive: Banks shun Tereos attempt to secure wider funding – sources

FILE PHOTO: The Tereos logo is displayed at a sugar beet processing plant in Origny-Sainte-Benoite
FILE PHOTO: The Tereos logo is displayed at a sugar beet processing plant in Origny-Sainte-Benoite, France, March 20, 2019. REUTERS/Benoit Tessier/File Photo

April 18, 2019

By Sybille de La Hamaide

PARIS (Reuters) – An attempt by French sugar group Tereos to spread risk on a 250 million euro ($281 million) loan secured earlier this year has failed to attract bidders, leaving three main creditor banks with exposure, sources familiar with the matter said.

Tereos, the world’s second-biggest sugar producer, has struggled to cope with poor market conditions since the European Union’s output quota regime ended in 2017, warning that it would post a loss for a second year in a row this season.

The debt-laden cooperative group said in February it had subscribed a 250 million euros ($281 million) loan with BNP Paribas, Natixis and Rabobank, to reimburse half of its 2020 bond one year in advance.

Tereos then launched a syndication round with about 10 banks, including other members of its banking pool and new ones, in a bid to spread the risk, the sources said.

The call, for 50 million euros, failed to attract any bidders by April 15, they said.

“The group is in constant dialogue with its financial partners on various financing operations around the world. The group does not comment on these non-public discussions which, taken in isolation, may give a misleading picture of the group’s funding,” Tereos said in an email statement.

Potential bidders were put off by tough conditions for European sugar producers faced with a collapse in prices but also by the company’s high debt level and poor results expected this year, one source said.

“The problem here was significant risk. The pricing offered failed to attract banks,” one source said. “This means they will have to pay more and go elsewhere.”

The departure of the group’s Chief Financial Officer, Olivier Casanova, responsible for presenting the syndication offer, discouraged potential participants, the source said.

Natixis and BNP declined to comment. Rabobank was not immediately available to comment.

DEBT MOUNTS

Tereos held net debt of 2.7 billion euros by Dec. 31, up 4.5 percent on the year, putting the net debt to adjusted EBITDA ratio at 8.0 versus 4.1 a year earlier.

Concerns about Tereos’ financial health in a difficult sugar market sent yields on the group’s bonds to all time highs late last year and they have remained high since with Tereos’ June 2023 bond yielding 8.5 percent on Thursday.

The sugar maker said in February it maintained at group level a financial security of 1 billion euros as of Dec. 31, 2018, including a still undrawn 225 million euros back-up facility, despite plunging profits.

A surge in output after the European Union abolished production quotas and a 40 percent slump in prices since early 2017 in an oversupplied world market has hit profits for several European firms.

Suedzucker, Europe’s largest sugar refiner, said in February it would halt sugar output at two factories of its French branch Saint Louis Sucre while French competitor Cristal Union is planning to shut another two.

Tereos has said that the group does not expect to close any plants in France.

The group is looking at opening its business to partners to boost diversification and internationalization. The process could take two or three years, it said.

($1 = 0.8887 euros)

(Additional reporting by Mathieu Protard in Paris and Jonathan Saul in London; Editing by Veronica Brown and Alexandra Hudson)

Source: OANN

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Serbia president vows to defend law and order amid protests

Serbia's president has pledged to defend the country's law and order a day after opposition supporters stormed the national TV station protesting what they say is his autocratic rule.

As Aleksandar Vucic held a news conference in the presidency building in downtown Belgrade on Sunday, hundreds of opposition supporters gathered in front demanding his resignation. Skirmishes with police were reported.

During his televised address, Vucic repeatedly branded opposition leaders as "fascists, hooligans and thieves."

Riot police on Saturday night removed hundreds of people, including opposition leaders, who stormed the TV headquarters to denounce the broadcaster, whose reporting they consider highly biased.

This was the first major incident after months of peaceful protests against populist leader Vucic. The demonstrators are demanding his resignation, fair elections and a free media.

Source: Fox News World

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Beto O'Rourke's 2020 bid draws mixed reactions in El Paso, Texas

Proper Printshop began printing the shirts as soon as they opened at 10 a.m. on Thursday.

The clothing featured phrases like “Beto 2020” with an image of the former El Paso, Texas, congressman wearing Old Glory sunglasses.

“It’s cool to know that someone from El Paso, a town like ours, can strive to do something that incredible,” designer Patrick Gabaldon said of Beto O’Rourke’s decision to enter the crowded field of Democratic presidential candidates.

WHY BETO O'ROURKE COULD BE DEMS' 2020 NOMINEE AGAINST TRUMP

Democratic presidential candidate Beto O'Rourke met with voters in Iowa, sharing his views on healthcare and climate change, among several issues.

Democratic presidential candidate Beto O'Rourke met with voters in Iowa, sharing his views on healthcare and climate change, among several issues. (Fox News)

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Gabaldon first created the images when O’Rourke was running for the Senate seat against incumbent Ted Cruz last year, a race that propelled O'Rourke into the national spotlight.

While he ultimately lost that midterm election to Cruz by a few percentage points, O’Rourke gained name recognition and became known for his fundraising prowess, raising an eye-popping $80 million during his run.

Though he initially said he wasn’t going to make a presidential run, O’Rourke reversed that decision, announcing in the wee hours of Thursday morning.

"Amy and I are happy to share with you that I'm running to serve you as the next president of the United States of America,” he said in a video.

By noon, several people had requested the shirts. Excitement among El Pasoans was growing.

WHO'S STILL ON THE FENCE FOR 2020? AFTER BETO, THESE DEMS COULD JUMP IN NEXT 

Proper Printshop made several shirts featuring O'Rourke, a few hours after the El Paso native announced his decision on social media. Several people have since requested the shirts. 

Proper Printshop made several shirts featuring O'Rourke, a few hours after the El Paso native announced his decision on social media. Several people have since requested the shirts.  (Fox News)

“I think he’s going to be a good run. I think he’ll do much better [than] our current president. And, I’m just a Democratic person. So he has my vote,” said Alan Zambrano.

O’Rourke was in Iowa for the first few stops along his campaign trail. He visited Keokuk, Fort Madison, Burlington, and Muscatine, rallying voters and sharing his views for the country.

He called for guaranteed, high-quality health care and action on climate change.

"This is our final chance, the scientists are absolutely unanimous on this, that we have no more than 12 years to take incredibly bold action on this crisis,” said O’Rourke.

Still, some are less than enthused about his run.

“I am not in support of him as a candidate. I believe that the Democrats have to sort out what they’re going to do. I believe that President Trump will continue as the president, and I wish Beto the best of luck,” said Steven Nagy.

Others say they have little faith in the political system at all.

O'Rourke gained national prominence last year while running for the Senate against Sen. Ted Cruz. He became known for his fund-raising prowess, though he ultimately lost the race. 

O'Rourke gained national prominence last year while running for the Senate against Sen. Ted Cruz. He became known for his fund-raising prowess, though he ultimately lost the race.  (Fox News)

“I’m disillusioned with the representation of the people. I feel that our political leaders are more representing the big business and money than the individuals themselves throughout the U.S,” said Tafari Nugent.

Though some say O’Rourke’s candidacy raises excitement among Texans, politics professor Todd Curry, from the University of Texas at El Paso, is wary of notions that the candidate could flip this red state.

“I still think we have to wait a few more election cycles until Texas is put into play,” said Curry.

O’Rourke is set to hold a kickoff rally in El Paso on March 30.

Source: Fox News Politics

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Solar and wind firms call the ‘Green New Deal’ too extreme

FILE PHOTO: U.S. Representative Ocasio-Cortez and Senator Markey hold a news conference for their proposed
FILE PHOTO: U.S. Representative Alexandria Ocasio-Cortez (D-NY) and Senator Ed Markey (D-MA) hold a news conference for their proposed "Green New Deal" to achieve net-zero greenhouse gas emissions in 10 years, at the U.S. Capitol in Washington, U.S. February 7, 2019. REUTERS/Jonathan Ernst

March 21, 2019

By Valerie Volcovici and Nichola Groom

WASHINGTON/LOS ANGELES (Reuters) – U.S. solar and wind power companies may have the most to gain from the Green New Deal, an ambitious proposal backed by several Democratic presidential candidates to end U.S. fossil fuel consumption within a decade.

But do not expect the renewable energy firms to endorse it.

Representatives of America’s clean energy companies are withholding their support for the climate-fighting plan, calling it unrealistic and too politically divisive for an industry keen to grow in both red and blue states.

The cool reaction reflects the difficulty that progressive politicians vying for the White House may have in selling aggressive global-warming policy to the business community and more moderate voters.

It also underscores a new reality for U.S. solar and wind power companies long associated with the environmental left: As they have improved technology and lowered prices, their growth is shifting from politically liberal coastal states to the more conservative heartland, where skepticism of climate change and government subsidies runs high.

“If you just broadly endorse the Green New Deal, you are liable to upset one side of the aisle or the other. And that’s not constructive,” said Tom Werner, the CEO of SunPower Corp, one of the nation’s biggest solar power companies.

“The idea that you could go 100 percent (clean energy) in 10 years would require a lot of things happening perfectly, simultaneously,” he said. “You’d have to have bipartisan support, 52-state support.”

The Green New Deal was introduced last month by Alexandria Ocasio-Cortez, a Democrat Congresswoman from New York, along with fellow Democrat Senator Edward Markey of Massachusetts. It has since become the center of a renewed debate in Washington about how vigorously the government must act to address climate change.

The Congressional resolution, which has no force of law, calls for the federal government to make investments to achieve net-zero greenhouse gas emissions in a decade by meeting 100 percent of America’s power demand with clean, renewable sources such as solar, wind, hydroelectric, or geothermal energy.

It also calls for massive investments in green infrastructure projects like “smart grids” to improve efficiency, along with a guarantee of millions of high-wage jobs with paid vacations, medical leave and retirement security. The resolution does not get into detail about how subsequent legislation would achieve these goals.

So far, at least eight Democratic presidential hopefuls – including senators Bernie Sanders of Vermont, Elizabeth Warren of Massachusetts and Amy Klobuchar of Minnesota – have endorsed the plan as they seek to stand in stark opposition to the pro-drilling policies of President Donald Trump.

Trump’s fellow Republicans have widely panned the Green New Deal, saying it would cost trillions of dollars of taxpayer money, may be technically unfeasible, and smacks of radical socialism.

Rhiana Gunn Wright, founder of the think tank New Consensus, which is drawing up Green New Deal policies, said her group will not estimate costs of the plan until it is more fully drafted next year. She said opponents’ estimates are premature and do not account for the benefits of climate action and the costs of inaction.

The feasibility of the proposal has been a source of concern for the clean energy industry, too.

“We love the enthusiasm the Green New Deal has brought to the climate issue … but we need to operate in political reality,” said Dan Whitten, vice president of public affairs at the Solar Energy Industries Association, the solar industry’s main lobby group.

Another concern is the fact that the plan extends beyond energy and climate policies to include guarantees of jobs, training and healthcare for communities affected by climate change, said Greg Wetstone, president of the American Council on Renewable Energy, a non-profit organization promoting renewable energy industries.

“It creates controversy and complexity, tying this to issues that are not in our sphere,” he said.

Representatives of renewable energy firms Sunrun and Sunnova Energy said they were happy the Green New Deal was drawing so much attention to clean industry but stopped short of endorsing the plan.

“The Green New Deal has sparked an important conversation, and we’re excited to be part of it,” said Alex McDonough, Vice President of Public Policy at Sunrun.

INROADS IN TRUMP COUNTRY

The U.S. solar and wind industries have expanded over the last decade, thanks to lucrative government subsidies, and now employ some 350,000 workers nationwide – more than four times more than the coal sector, according to the 2019 U.S. Energy and Employment Report released this month.

While the growth began in liberal-leaning regions such as California and New England, it has more recently come in states that voted heavily for President Donald Trump in 2016, including Texas, North Carolina, Iowa and Florida, according to data from the American Wind Energy Association, Wood Mackenzie Power & Renewables and SEIA.

That has helped strengthen the industry’s appeal to Republican lawmakers, allowing it to rebrand as a jobs engine in addition to a tool for combating global warming. And during the last election cycle in 2018, solar and wind companies contributed significantly more money to Republican candidates than to their traditional Democratic allies.

“We have raised these industries above science experiments and feel-goodery, and we are now real businesses and can’t just play to one half of the country,” said one renewable sector lobbyist, who asked not to be named discussing the topic.

“Staying out of the line of fire is the goal of most companies and trade associations,” said another clean energy industry representative. “There will be a real danger for our industry and companies if they are shouting out about the Green New Deal from the rooftops.”

The Sunrise Movement, a grassroots group that brought the Green New Deal into the national spotlight by holding demonstrations and confronting lawmakers on video, said it was aware of the reticence of green energy companies to back their proposal.

“We’ve met with companies and industries who could have a lot to gain from the Green New Deal, but the politics at this stage are too difficult to navigate,” Sunrise co-founder Evan Weber said.

He said Sunrise had met with the SEIA and AWEA, along with other executives.

Weber said industry support for the Green New Deal would be welcomed but is not vital: “We don’t expect all of them to be a strong advocate for the Green New Deal until the politics shift.”

(Reporting by Valerie Volcovici and Nichola Groom; Editing by Richard Valdmanis and Brian Thevenot)

Source: OANN

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Britain's Chancellor of the Exchequer Philip Hammond looks on during an interview with Reuters at the British Ambassador's residence in Beijing
Britain’s Chancellor of the Exchequer Philip Hammond looks on during an interview with Reuters at the British Ambassador’s residence in Beijing, China April 26, 2019. REUTERS/Florence Lo/Pool

April 26, 2019

BEIJING (Reuters) – British finance minister Philip Hammond said on Friday that he had a “very constructive meeting” with his counterpart in the opposition Labour Party before leaving for Beijing and that he was optimistic about finding common ground.

Hammond, speaking on the sidelines of a summit on China’s Belt and Road initiative in Beijing, said talks with Labour aimed at finding a way forward on Brexit had not stalled.

“I’m optimistic that we will find common ground,” he said. “Both sides have got clear positions and both sides will have to compromise in order to reach an agreement.”

Hammond added that he absolutely did not favor a no deal exit from the European Union.

(Reporting by Ben Blanchard; editing by Darren Schuettler)

Source: OANN

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Police secure the area where the body of a woman was discovered near the village of Orounta
Police secure the area where the body of a woman was discovered near the village of Orounta, Cyprus, April 25, 2019. REUTERS/Stefanos Kouratzis

April 26, 2019

NICOSIA (Reuters) – Cypriot police searched on Friday for more victims of a suspected serial killer, in a case which has shocked the Mediterranean island and exposed the authorities to charges of “criminal indifference” because the dead women were foreigners.

The main opposition party, the left-wing AKEL, called for the resignation of Cyprus’s justice minister and police chief.

Police were combing three different locations west of the capital Nicosia for victims of the suspected killer, a 35-year-old army officer who has been in detention for a week.

The bodies of three women, including two thought to be from the Philippines, have been recovered. Police sources said the suspect had indicated the location of the third body, found on Thursday, and had said the person was “either Indian or Nepali”.

Police said they were searching for a further four people, including two children, based on the suspect’s testimony.

“These women came here to earn a living, to help their families. They lived away from their families. And the earth swallowed them, nobody was interested,” AKEL lawmaker Irene Charalambides told Reuters.

“This killer will be judged by the court but the other big question is the criminal indifference shown by the others when the reports first surfaced. I believe, as does my party, that the justice minister and the police chief should resign. They are irrevocably exposed.”

Police have said they will investigate any perceived shortcomings in their handling of the case.

One person who did attempt to alert the authorities over the disappearances, a 70-year-old Cypriot citizen, said his motives were questioned by police.

The bodies of the two Filipino women reported missing in May and August 2018 were found in an abandoned mine shaft this month. Police discovered the body of the third woman at an army firing range about 14 km (9 miles) from the mine shaft.

Police are now searching for the six-year-old daughter of the first victim found, a Romanian mother who disappeared with her eight-year-old child in 2016, and a woman from the Phillipines who vanished in Dec. 2017.

The suspect has not been publicly named, in line with Cypriot legal practice.

A public vigil for the missing was planned later on Friday.

(Reporting By Michele Kambas; Editing by Gareth Jones)

Source: OANN

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An employee looks up at goods at the Miniclipper Logistics warehouse in Leighton Buzzard
FILE PHOTO: An employee looks up at goods at the Miniclipper Logistics warehouse in Leighton Buzzard, Britain December 3, 2018. REUTERS/Simon Dawson

April 26, 2019

LONDON, April 26 – British factories stockpiled raw materials and goods ahead of Brexit at the fastest pace since records began in the 1950s, and they were increasingly downbeat about their prospects, a survey showed on Friday.

The Confederation of British Industry’s (CBI) quarterly survey of the manufacturing industry showed expectations for export orders in the next three months fell to their lowest level since mid-2009, when Britain was reeling from the global financial crisis.

The record pace of stockpiling recorded by the CBI was mirrored by the closely-watched IHS Markit/CIPS purchasing managers’ index published earlier this month.

(Reporting by Andy Bruce, editing by David Milliken)

Source: OANN

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Malaysian Prime Minister Mahathir Mohamad speaks at the opening ceremony for the second Belt and Road Forum in Beijing
Malaysian Prime Minister Mahathir Mohamad speaks at the opening ceremony for the second Belt and Road Forum in Beijing, China April 26, 2019. REUTERS/Florence Lo

April 26, 2019

KUALA LUMPUR (Reuters) – Fewer than half of Malaysians approve of Prime Minister Mahathir Mohamad, an opinion poll showed on Friday, as concerns over rising costs and racial matters plague his administration nearly a year after taking office.

The survey, conducted in March by independent pollster Merdeka Center, showed that only 46 percent of voters surveyed were satisfied with Mahathir, a sharp drop from the 71 percent approval rating he received in August 2018.

Mahathir’s Pakatan Harapan coalition won a stunning election victory in May 2018, ending the previous government’s more than 60-year rule.

But his administration has since been criticized for failing to deliver on promised reforms and protecting the rights of majority ethnic Malay Muslims.

Of 1,204 survey respondents, 46 percent felt that the “country was headed in the wrong direction”, up from 24 percent in August 2018, the Merdeka Center said in a statement. Just 39 percent said they approved of the ruling government.

High living costs remained the top most concern among Malaysians, with just 40 percent satisfied with the government’s management of the economy, the survey showed.

It also showed mixed responses to Pakatan Harapan’s proposed reforms.

Some 69 percent opposed plans to abolish the death penalty, while respondents were sharply divided over proposals to lower the minimum voting age to 18, or to implement a sugar tax.

“In our opinion, the results appear to indicate a public that favors the status quo, and thus requires a robust and coordinated advocacy efforts in order to garner their acceptance of new measures,” Merdeka Center said.

The survey also found 23 percent of Malaysians were concerned over ethnic and religious matters.

Some groups representing Malays have expressed fear that affirmative-action policies favoring them in business, education and housing could be taken away and criticized the appointments of non-Muslims to key government posts.

Last November, the government reversed its pledge to ratify a UN convention against racial discrimination, after a backlash from Malay groups.

Earlier this month, Pakatan Harapan suffered its third successive loss in local elections since taking power, which has been seen as a further sign of waning public support.

Despite the decline, most Malaysians – 67 percent – agreed that Mahathir’s government should be given more time to fulfill its election promises, Merdeka Center said.

This included a majority of Malay voters who were largely more critical of the new administration, it added.

(Reporting by Rozanna Latiff; Editing by Nick Macfie)

Source: OANN

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The German share price index DAX graph at the stock exchange in Frankfurt
The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, April 25, 2019. REUTERS/Staff

April 26, 2019

By Medha Singh and Agamoni Ghosh

(Reuters) – European shares slipped on Friday after losses in heavyweight banks and Glencore outweighed gains in healthcare and auto stocks, while investors remained on the sidelines ahead of U.S. economic data for the first quarter.

The pan-European STOXX 600 index was down 0.1 percent by 0935 GMT, eyeing a modest loss at the end of a holiday-shortened week. Banks-heavy Italian and Spanish indices were laggards.

The banking index fell for a fourth day, at the end of a heavy earnings week for lenders.

Britain’s Royal Bank of Scotland tumbled after posting lower first quarter profit, hurt by intensifying competition and Brexit uncertainty, while its investment bank also registered poor returns.

Weakness in investment banking also dented Deutsche Bank’s quarterly trading revenue and sent its shares lower a day after the German bank abandoned merger talks with smaller rival Commerzbank.

“The current interest rate environment makes it challenging for banks to make proper earnings because of their intermediary function,” said Teeuwe Mevissen, senior market economist eurozone, at Rabobank.

Since the start of April, all country indexes were on pace to rise between 1.8 percent and 3.4 percent, their fourth month of gains, while Germany was strongly outperforming with 6 percent growth.

“For now the current sentiment is very cautious as markets wait for the first estimates of the U.S. GDP growth which could see a surprise,” Mevissen said.

U.S. economic data for the first-quarter is due at 1230 GMT. Growth worries outside the United States resurfaced this week after South Korea’s economy unexpectedly contracted at the start of the year and weak German business sentiment data for April also disappointed.

Among the biggest drags on the benchmark index in Europe were the basic resources sector and the oil and gas sector, weighed down by Britain’s Glencore and France’s Total, respectively.

Glencore dropped after reports that U.S authorities were investigating whether the company and its subsidiaries violated certain provisions of the commodity exchange act.

Energy major Total said its net profit for the first three months of the year fell compared with a year ago due to volatile oil prices and debt costs.

Chip stocks in the region including Siltronic, Ams and STMicroelectronics lost more than 1 percent after Intel Corp reduced its full-year revenue forecast, adding to concerns that an industry-wide slowdown could persist until the end of 2019.

Meanwhile, healthcare, which is also seen as a defensive sector, was a bright spot. It was helped by French drugmaker Sanofi after it returned to growth with higher profits and revenues for the first-quarter.

Luxembourg-based satellite operator SES led media stocks higher after it maintained its full-year outlook on the back of the company’s Networks division.

Automakers in the region rose 0.4 percent, led by Valeo’s 6 percent jump as the French parts maker said its performance would improve in the second half of the year.

Continental AG advanced after it backed its outlook for the year despite reporting a fall in first-quarter earnings.

Renault rose more than 3 percent as it clung to full-year targets and pursues merger talks with its Japanese partner Nissan.

(Reporting by Medha Singh and Agamoni Ghosh in Bengaluru; Editing by Gareth Jones and Elaine Hardcastle)

Source: OANN

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