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Tod’s e-commerce surge shows turnaround is working, CEO says

Milan Fashion Week Spring 2019
FILE PHOTO: A model presents a creation at the Tod's show during Milan Fashion Week Spring 2019 in Milan, Italy, September 21, 2018. REUTERS/Stefano Rellandini

April 18, 2019

By Claudia Cristoferi

SANT’ELPIDIO A MARE, Italy (Reuters) – Turnaround efforts at Italian luxury group Tod’s are starting to bear fruit with e-commerce sales growing at a “high-double digit” pace, owner and Chief Executive Diego Della Valle told shareholders on Thursday.

The shoes and leather goods company, famous for its Gommino loafers, has been struggling to revive the appeal of its brands to attract younger luxury shoppers, focusing on digital and more frequent collections and collaborations.

“Our recipe is known and unchanged. We want to keep our long-standing consumers and attract millennials,” Della Valle, who is also Tod’s chairman, said.

“We’ve got to the operational stage on some fronts and this gives us a little more confidence that the road taken is the right one.”

He added the company, which launched a new business model in late 2017 to reverse falling sales and refresh its namesake brand, could have moved earlier to tackle issues.

“But we’re doing what is needed”, he said listing among actions taken a management reshuffle that led to the appointment of a joint-CEO which Della Valle said was working out well.

Online sales, which account for 7 percent of total revenue, are growing at a “high double digit” pace and the firm hopes they will keep expanding at this rhythm in one or 1-1/2 years’ time so that the contribution to group sales can become more sizeable, Della Valle said.

To complement the online expansion in line with current multi-channel consumer trends, Tod’s is also planning to open a new flagship store on Milan’s famed Montenapoleone fashion street in a month.

Della Valle said disappointing quarterly earnings were the result of a push to “achieve sustainable results quite quickly”.

The company, which has fallen short of market expectations in recent years, has said 2019 will be another “year of transition” in terms of profitability.

The Della Valle family has been gradually increasing its stake in Tod’s as a sign of confidence in the company of which it now owns 63 percent.

“I’m happy where I am,” Della Valle said when asked about his role at the company.

(Reporting by Claudia Cristoferi, editing by Emelia Sithole-Matarise)

Source: OANN

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EU banking watchdog ends probe of Estonian, Danish regulators over Danske Bank

FILE PHOTO: Danske Bank sign is seen at the bank's Estonian branch in Tallinn
FILE PHOTO: Danske Bank sign is seen at the bank's Estonian branch in Tallinn, Estonia August 3, 2018. REUTERS/Ints Kalnins/File Photo

April 17, 2019

COPENHAGEN (Reuters) – The EU banking watchdog has closed an investigation of financial regulators in Estonia and Denmark in relation to suspected money laundering activities by Danske Bank after it did not find any breach of EU law, the Estonian FSA said on Wednesday.

The European Banking Authority (EBA) in February said it had opened a formal investigation into a possible breach of EU law by Estonian and Danish regulators.

Denmark’s largest bank Danske Bank, has admitted that 200 billion euros ($226 billion) of suspicious transactions flowed through its Estonian branch between 2007 and 2015.

(Reporting by Jacob Gronholt-Pedersen, editing by Louise Heavens)

Source: OANN

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Denmark Paying UN to Stem Migration From Africa

Denmark has announced a fresh cash injection for programs designed to stem the flows of African migration at their sources.

Funding totaling approximately $1.5 million (10 million DKK) will be directed to the United Nations High Commissioner for Refugees (UNHCR) appeal for the Mediterranean route, according to a statement from Denmark's Foreign Ministry.

"Efforts are taking place in the countries of origin and transit of Algeria, Burkina Faso, Chad, Egypt, Ethiopia, Libya, Mali, Mauritania, Morocco, Niger, Senegal and Sudan and can help reduce further migration flows," the Foreign Ministry explains.

"Activities include information campaigns on risks and realistic outcomes of travel, strengthening local authorities' capacity to handle migration and protection, help with voluntary return of migrants and refugee integration in host communities and resettlement, desert rescue, protection of unaccompanied children, victim assistance for gender-based violence, monitoring of conditions in detention centers in Libya and evacuation from Libya of vulnerable refugees to Niger for further resettlement."

Top Danish officials recently visited Frontex operations in Sicily, including Defense Minister Claus Hjort Frederiksen, Minister of Integration Inger Støjberg, and Minister for Development Cooperation Ulla Tørnæs.

"It is crucial that we strengthen the EU's external borders if we are to handle the migration pressures against Europe in the future," Tørnæs said. "At the same time, it is crucial that we strengthen efforts on migration routes in the Sahel region, including with support for local authorities, so that they can better fight human trafficking networks, and that we contribute to information efforts so that young Africans are not tempted - with their lives - into a hopeless journey towards Europe."

It is interesting to note that Denmark's latest contribution to the UNHCR's Mediterranean efforts are lower than in previous years - 35 million DKK in 2018 and 15 DKK in 2017.

In November, 2018, Infowars Europe helped bring to light revelations that migrants were using preloaded MasterCard debit cards bearing insignias of the UNHCR and EU to pay for goods and services along their journeys.

Denmark appears to be moving in a different direction on issues related to immigration than many European countries, recently announcing plans to start sending migrants home instead of integrating them, quarantining certain foreign criminals on an isolated island, and stripping a Moroccan jihadist of his Danish citizenship in a landmark legal ruling.

Europe appears lost as reports emerge that German police are actually covering up migrant crimes to push the narrative that migrants are never violent or break the law and should be welcomed with open arms.

(PHOTO: Jesus Merida/SOPA Images/LightRocket via Getty Images)

Source: InfoWars

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Pilots searched for checklist before Lion Air crash: Indonesian investigators

A worker assists his colleague as an turbine engine of Lion Air flight JT610 is lifted up at Tanjung Priok port in Jakarta
FILE PHOTO: A worker assists his colleague as an turbine engine of Lion Air flight JT610 is lifted up at Tanjung Priok port in Jakarta, Indonesia, November 4, 2018. REUTERS/Beawiharta

March 21, 2019

JAKARTA (Reuters) – Indonesian investigators said on Thursday the cockpit voice recorder from a crashed Lion Air Boeing Co 737 MAX 8 jet showed pilots were searching for the right checklist in their handbooks and were experiencing airspeed and altitude issues.

The details revealed at a press conference corroborated a Reuters report on Wednesday that was based on three sources with knowledge of the cockpit voice recorder’s contents.

Investigators said they have 90 percent of the data needed to release a final report on the October crash that killed 189 people, which is expected in August.

Nurcahyo Utomo, an investigator at Indonesia’s national transportation committee (KNKT) said the recording showed there was “panic” in the cockpit in the last 20 seconds of the flight.

“At the end of the flight it seemed the pilot felt he could no longer recover the flight, then the panic emerged,” he said while declining to say which of the two pilots panicked.

The investigation has taken on new urgency after a second 737 MAX 8 crash at Ethiopian Airlines last week killed 157 people and led to the global grounding of the model.

French air accident investigation agency BEA said on Tuesday the flight data recorder in the Ethiopian crash showed “clear similarities” to the Lion Air disaster.

Investigators examining the Indonesian crash are considering how a computer ordered the plane to dive in response to data from a faulty sensor and whether the pilots had enough training to respond appropriately to the emergency, among other factors.

(Reporting by Cindy Silviana and Bernadette Christina Munthe; writing by Jamie Freed; Editing by Simon Cameron-Moore)

Source: OANN

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In Bolivia, a new generation of wrestlers in bowler hats

A new generation of athletes is coming to one of the world's more colorful sporting spectacles: the fighting cholitas of Bolivia, who take to a wrestling ring in the traditional billowing skirts, bowler hats and leather shoes of Aymara women.

The sport — known by the English-derived name catchascan — has delighted foreign tourists and photographers for years while building a sense of pride among indigenous women. But the group of competitors has gradually dwindled over time to just seven.

Among the most famous is Reyna Torrez, the ring name of Leydi Huanca, who has entertained spectators for a dozen years, her moves inspired by Mexican wrestlers such as Rey Mysterio.

Now 29, Torrez is training a new cohort of wrestlers, ages 16 to 19, in hopes of keeping the sport alive.

"I love those leaps of Reyna, and it's a dream that she's teaching us," said 17-year-old Nieves Laura Tarqui, who wrestles as Nelly Pankarita, a last name that means "Little Flower" in Aymara.

Pankarita and the other trainees are still a year away from their full professional debuts while training in matches against the established athletes.

"It's hard to wrestle," said 19-year-old Noelia Gonzalez — aka Natalia Pepita. "You need a lot of bravery, strength and training to make a good fight. We fall and we hurt, but that doesn't matter because the public has fun."

As a match is about to start, the contenders peer into a mirror, apply makeup and perfume and then enter the ring dancing to folkloric music. This time it's Pepita taking on her teacher. And of course it doesn't start well.

As the audience chants "Pepita! Pepita!" the rookie finds herself paralyzed between the ropes as Torrez strangles her with her own pigtails. Then the tide turns. Pepita slips away, leads Torrez on a race around the ring and then uses a flying kick to the chest — a move Torrez taught her — to knock her down. Within minutes, Torrez is pinned to the floor and the public rises to applaud as Pepita pulls at her pigtails in emotion.

"The girls who want to do this sport have to have guts, will, because this is a sport that demands a lot of discipline," Torrez said.

About 50 young women are training at three schools to take up the sport, some at an institution known as Independent Wrestlers of Enormous Risk.

"Time is passing, and you have to make way for a new generation," said Benjamin Simonini, director of the school in the sprawling highlands city of El Alto, which has seen a boom in recent years and where the fighting cholitas have emerged as a tourist attraction.

Tatiana Monasterios of the city's tourist department said the shows "also assert the role of the Ayamara woman, showing her as enterprising, that she, too, can take part in a risky sport."

Source: Fox News World

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Small plane crashes in Texas, killing 6 people, officials say

Six people died in a small plane crash Monday in central Texas during a landing attempt, officials said.

The twin-engine plane crashed just before 9 a.m. as it was preparing to land at Kerrville Municipal Airport., about 70 miles northwest of San Antonio. The plane’s wreckage was located about 6 miles from the airport, FOX San Antonio reported.

HIKERS WARNED TO WATCH OUT FOR UNDETONATED BOMBS IN COLORADO MOUNTAINS FROM AVALANCHE MITIGATION

All six people aboard the aircraft were killed, Texas Department of Public Safety Sgt. Orlando Moreno said.

The plane took off from an airport just outside of Houston earlier Monday. It’s unclear what caused the crash, but federal investigators said they were headed to the crash site to investigate.

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The National Transportation Safety Board said it was investigating the crash.

The Associated Press contributed to this report. 

Source: Fox News National

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Iran's foreign minister resigns

Iran's state-run IRNA news agency says Foreign Minister Mohammad Javad Zarif has resigned.

IRNA cited a spokesman, Abbas Mousavi, confirming Zarif resigned after an Instagram post from the longtime diplomat offered an "apology" for his "inability to continue to his service."

There was no immediate reason offered for what prompted Zarif's resignation.

However, the diplomat was the driving force behind Iran's 2015 nuclear deal with world powers. That deal is now on the verge of collapse after President Donald Trump withdrew America from the accord last year.

Source: Fox News World

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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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U.S. President Donald Trump hosts Take Our Daughters and Sons to Work Day at the White House in Washington
U.S. President Donald Trump gives a thumbs up to his audience as he hosts Take Our Daughters and Sons to Work Day at the White House in Washington, U.S., April 25, 2019. REUTERS/Kevin Lamarque

April 26, 2019

By Jan Wolfe and Richard Cowan

(Reuters) – The “i word” – impeachment – is swirling around the U.S. Congress since the release of Special Counsel Robert Mueller’s redacted Russia report, which painted a picture of lies, threats and confusion in Donald Trump’s White House.

Some Democrats say trying to remove Trump from office would be a waste of time because his fellow Republicans still have majority control of the Senate. Other Democrats argue they have a moral obligation at least to try to impeach, even though Mueller did not charge Trump with conspiring with Russia in the 2016 U.S. election or with obstruction of justice.

Whether or not the Democrats decide to go down this risky path, here is how the impeachment process works.

WHAT ARE GROUNDS FOR IMPEACHMENT?

The U.S. Constitution says the president can be removed from office by Congress for “treason, bribery, or other high crimes and misdemeanors.” Exactly what that means is unclear.

Before he became president in 1974, replacing Republican Richard Nixon who resigned over the Watergate scandal, Gerald Ford said: “An impeachable offense is whatever a majority of the House of Representatives considers it to be at a given moment in history.”

Frank Bowman, a University of Missouri law professor and author of a forthcoming book on the history of impeachment, said Congress could look beyond criminal laws in defining “high crimes and misdemeanors.” Historically, it can encompass corruption and other abuses, including trying to obstruct judicial proceedings.

HOW DOES IMPEACHMENT PLAY OUT?

The term impeachment is often interpreted as simply removing a president from office, but that is not strictly accurate.

Impeachment technically refers to the 435-member House of Representatives approving formal charges against a president.

The House effectively acts as accuser – voting on whether to bring specific charges. An impeachment resolution, known as “articles of impeachment,” is like an indictment in a criminal case. A simple majority vote is needed in the House to impeach.

The Senate then conducts a trial. House members act as the prosecutors, with senators as the jurors. The chief justice of the U.S. Supreme Court presides over the trial. A two-thirds majority vote is required in the 100-member Senate to convict and remove a president from office.

No president has ever been removed from office as a direct result of an impeachment and conviction by Congress.

Nixon quit in 1974 rather than face impeachment. Presidents Andrew Johnson in 1868 and Bill Clinton in 1998 were impeached by the House, but both stayed in office after the Senate acquitted them.

Obstruction of justice was one charge against Clinton, who faced allegations of lying under oath about his relationship with White House intern Monica Lewinsky. Obstruction was also included in the articles of impeachment against Nixon.

CAN THE SUPREME COURT OVERTURN?

No.

Trump said on Twitter on Wednesday that he would ask the Supreme Court to intervene if Democrats tried to impeach him. But America’s founders explicitly rejected making a Senate conviction appealable to the federal judiciary, Bowman said.

“They quite plainly decided this is a political process and it is ultimately a political judgment,” Bowman said.

“So when Trump suggests there is any judicial remedy for impeachment, he is just wrong.”

PROOF OF WRONGDOING?

In a typical criminal court case, jurors are told to convict only if there is “proof beyond a reasonable doubt,” a fairly stringent standard.

Impeachment proceedings are different. The House and Senate “can decide on whatever burden of proof they want,” Bowman said. “There is no agreement on what the burden should be.”

PARTY BREAKDOWN IN CONGRESS?

Right now, there are 235 Democrats, 197 Republicans and three vacancies in the House. As a result, the Democratic majority could vote to impeach Trump without any Republican votes.

In 1998, when Republicans had a House majority, the chamber voted largely along party lines to impeach Clinton, a Democrat.

The Senate now has 53 Republicans, 45 Democrats and two independents who usually vote with Democrats. Conviction and removal of a president would requires 67 votes. So that means for Trump to be impeached, at least 20 Republicans and all the Democrats and independents would have to vote against him.

WHO BECOMES PRESIDENT IF TRUMP IS REMOVED?

A Senate conviction removing Trump from office would elevate Vice President Mike Pence to the presidency to fill out Trump’s term, which ends on Jan. 20, 2021.

(Reporting by Jan Wolfe and Richard Cowan; Editing by Kevin Drawbaugh and Peter Cooney)

Source: OANN

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New England Patriots owner Robert Kraft attends a conference at the Cannes Lions Festival in Cannes
FILE PHOTO: New England Patriots owner Robert Kraft attends a conference at the Cannes Lions Festival in Cannes, France, June 23, 2017. REUTERS/Eric Gaillard

April 26, 2019

(Reuters) – New England Patriots owner Robert Kraft’s lawyers on Friday are set to ask a Florida judge to toss out hidden-camera videos that prosecutors say show the 77-year-old billionaire receiving sexual favors for money inside a Florida massage parlor.

The owner of the reigning Super Bowl champions plans wants the video to not be used as evidence against him as he contests two misdemeanor counts of soliciting prostitution at the Orchids of Asia Spa in Jupiter, Florida, along with some two dozen other men.

His legal team is fresh off a win on Tuesday, when they successfully persuaded Palm Beach County Judge Leonard Hanser to block prosecutors from releasing the hidden-camera footage to media outlets, which had requested copies under the state’s robust open records law.

Kraft, who has owned the franchise since 1994, pleaded not guilty, but has issued a public apology for his actions.

His attorneys have argued in court papers that the surreptitious videotaping of customers, including Kraft, inside a massage parlor was governmental overreach and the result of an illegally obtained search warrant.

The warrant, Kraft’s lawyers claim, was secured under false pretenses because police officers cited human trafficking as a potential crime in their application. Prosecutors have since acknowledged that the investigation yielded no evidence of trafficking.

Palm Beach County prosecutors in a court filing on Wednesday said Kraft’s motion should be rejected because he could not have had any expectation of privacy while visiting a commercial establishment to engage in criminal activity.

That prompted an indignant response from Kraft’s attorneys, who said the prosecution’s position on privacy was “unhinged.”

“It should go without saying that Mr. Kraft and everyone else in the United States have a reasonable expectation that the government will not secretly spy on them while they undress behind closed doors,” they wrote.

(Reporting by Joseph Ax, editing by G Crosse)

Source: OANN

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