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FILE PHOTO: The logo of a Walmart Superstore is seen during the outbreak of the coronavirus disease (COVID-19), in Rosemead, California, U.S., June 11, 2020. REUTERS/Mario Anzuoni
(Reuters) -Walmart Inc will stop sales of tobacco products in some of its more than 5,000 stores across the United States, the world’s largest retailer said on Monday.
The markets in which cigarettes are being removed from stores include California, Florida and New Mexico, according to the Wall Street Journal https://www.wsj.com/articles/walmart-stops-selling-cigarettes-in-some-stores-11648459800?mod=latest_headlines, which first reported the news.
CVS in 2014 became the first U.S. drugstore chain to take cigarettes off the shelves, while Walmart halted https://www.reuters.com/article/us-walmart-cigarettes-idUSKBN1W523O sales of e-cigarettes and electronic nicotine delivery products at its U.S. stores a few years later due to growing regulatory complexity and uncertainty.
Several Democratic U.S. senators have urged https://www.reuters.com/article/us-senate-tobacco-idUSKBN1WB2JV Walmart and several other retailers to stop selling all tobacco products.
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2022-03-28T14:22:40Z
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www.oann.com
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Walmart to stop tobacco sales in some U.S. stores | One America News Network One America News Network - Breaking News Updates | Latest News Headlines | Photos and News Videos
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OTTAWA (Reuters) -Canada will announce on Monday that Lockheed Martin Corp is the preferred bidder in a multibillion-dollar competition to supply 88 new fighter jets, said an industry source close to the file.
The announcement means Ottawa will only hold detailed talks with the U.S. company, said the source, who requested anonymity given the sensitivity of the situation. If those negotiations for some reason fail, the government will turn to Sweden’s Saab, the other contender.
Canada belongs to the consortium that developed Lockheed Martin’s F-35 jet, which defense sources say is the military’s first choice. Ottawa says the contract could be worth up to C$19 billion ($15.10 billion).
This appeared to favor Boeing Co, but the U.S. company fell out of favor with Ottawa after taking trade action against Canadian rival Bombardier Inc and was excluded from the competition last December.
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2022-03-28T15:52:54Z
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Canada chooses Lockheed Martin as preferred bidder for jets -industry source | One America News Network One America News Network - Breaking News Updates | Latest News Headlines | Photos and News Videos
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https://www.oann.com/canada-chooses-lockheed-martin-as-preferred-bidder-for-jets-industry-source/?utm_source=rss&utm_medium=rss&utm_campaign=canada-chooses-lockheed-martin-as-preferred-bidder-for-jets-industry-source
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FILE PHOTO: A view of the skyline of downtown Los Angeles, California, U.S., March 22 2022. REUTERS/Mike Blake
(Reuters) – The U.S. advertising market will grow in 2022 but only by half as much as it did in 2021, according to an industry forecast released on Monday that cited both last year’s record growth from the COVID-19 recovery and the economic harm from the Russian invasion of Ukraine.
Media intelligence firm MAGNA, a unit of Interpublic Group of Companies, lowered its full-year growth forecast by one percentage point to 11.5% compared to its 12.6% forecast before the invasion little over a month ago.
The assault on Ukraine, which Russia calls a “special military operation,” is rekindling economic uncertainty with high oil and gas prices and concerns about the global supply chain, the report said.
“It’s still very early to assess the full impact of the Ukraine crisis,” said Vincent Letang, executive vice president of global market intelligence at MAGNA.
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2022-03-28T15:53:24Z
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Ukraine invasion expected to hamper U.S. ad market growth-forecast | One America News Network One America News Network - Breaking News Updates | Latest News Headlines | Photos and News Videos
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https://www.oann.com/ukraine-invasion-expected-to-hamper-u-s-ad-market-growth-forecast/?utm_source=rss&utm_medium=rss&utm_campaign=ukraine-invasion-expected-to-hamper-u-s-ad-market-growth-forecast
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FILE PHOTO: The headquarter of the European Bank for Reconstruction and Development (EBRD) is seen in London, Britain, November 22, Britain 2016. REUTERS/Stefan Wermuth
LONDON (Reuters) – The European Bank for Reconstruction and Development (EBRD) said on Monday it was in the process of closing its offices in Moscow and the Belarusian capital Minsk.
“The EBRD has strongly condemned the war on Ukraine and the decision to close the offices in Moscow and Minsk is the inevitable outcome of the actions taken by the Russian Federation with the help of Belarus,” it said.
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2022-03-28T17:24:30Z
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EBRD says it is closing its offices in Moscow and Minsk | One America News Network One America News Network - Breaking News Updates | Latest News Headlines | Photos and News Videos
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EU’s Vestager sees latest EU, U.S. data transfer deal challenged in court
BRUSSELS (Reuters) – A data transfer deal agreed by the European Union and the United States last week will likely end up in court just like the two previous pacts it replaces, EU tech chief Margrethe Vestager said on Monday.
The 27-nation bloc and the United States announced the preliminary data transfer deal on Friday, seeking to end the limbo in which thousands of companies found themselves after Europe’s top court threw out the two previous pacts due to concerns about U.S. surveillance.
Thousands of companies had found themselves in a legal quagmire when transferring Europeans’ personal data across the Atlantic for personnel management, online sales and other activities.
“My guess is here that it will be tested indeed in court, but I know how much they have worked for this to be solid, but of course it remains to be seen,” Vestager told Reuters in an interview.
Austrian privacy activist Max Schrems, whose campaign about the risk of U.S. intelligence agencies obtaining Europeans’ data in a long-running dispute with Meta led to the court vetoes, has said he was ready to challenge the new accord if it fails to comply with EU laws.
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2022-03-28T17:24:37Z
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EU’s Vestager sees latest EU, U.S. data transfer deal challenged in court | One America News Network One America News Network - Breaking News Updates | Latest News Headlines | Photos and News Videos
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JOHANNESBURG (Reuters) -The International Monetary Fund and Mozambique have reached a staff-level agreement on a $470 million facility, the Fund said on Monday, in what would be the African nation’s first programme since the global lender suspended support six years ago.
A statement from the Fund said final approval for the three-year Extended Credit Facility was expected to come from IMF management “in the coming weeks”.
“In recent years the Mozambican economy has been hit by a series of severe shocks that risk intensifying vulnerabilities and worsening socioeconomic conditions,” the IMF said in a statement.
It said the government’s medium-term programme focused on economic growth, fiscal sustainability, and reforms in public financial management and governance.
One of the world’s most impoverished countries, Mozambique is still grappling with its hefty debt burden, as well as an Islamist insurgency and the impact of COVID-19, which led to its first economic contraction in three decades last year.
(Reporting by Marc Jones and Joe Bavier; editing by Rodrigo Campos and Paul Simao)
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2022-03-28T17:24:45Z
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IMF staff agree $470 million programme for Mozambique | One America News Network One America News Network - Breaking News Updates | Latest News Headlines | Photos and News Videos
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FILE PHOTO: The White House is seen in Washington, U.S., March 27, 2022. REUTERS/Joshua Roberts/File Photo
WASHINGTON (Reuters) – The White House on Monday proposed imposing a minimum tax on the nation’s richest people to challenge the “indefensibly low tax rates” the wealthy can engineer as Democrats take another swing at a so-called billionaire’s tax.
The proposal is an effort to tackle what the White House described as a “glaring” problem: that the current tax code’s preferential tax rates for investments allow the nation’s wealthiest to have a lower tax rate than middle-class Americans.
The White House proposal is similar to one unveiled by Senator Ron Wyden, who heads the tax writing Finance Committee, in October as part of Democrats’ efforts to craft a sweeping social and climate-changing spending package.
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2022-03-28T18:55:44Z
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President Biden pitches minimum tax on billionaires in new budget | One America News Network One America News Network - Breaking News Updates | Latest News Headlines | Photos and News Videos
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(Reuters) -Boeing Co on Monday named Ted Colbert as the head of its defense division, replacing long-time company executive Leanne Caret, effective April 1.
Colbert, who now heads Boeing Global Services, will become president and chief executive officer of Boeing’s Defense, Space & Security business.
Caret, who had taken over the defense and space in 2016, will serve as executive vice president and senior advisor to the Boeing’s Chief Executive David Calhoun, until her retirement later this year.
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2022-03-28T21:58:19Z
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Boeing’s Ted Colbert to helm defense and space business | One America News Network One America News Network - Breaking News Updates | Latest News Headlines | Photos and News Videos
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(Reuters) – There is no timeline yet for when nine United States team figure skaters will receive their Beijing Olympics medals, the U.S. Olympic and Paralympic Committee (USOPC) said on Monday.
“We hope that’s an opportunity where we’ll have that team back together again and might be able to celebrate even if it can’t be with hanging a medal around their necks just yet,” said Hirshland.
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2022-03-28T21:58:34Z
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Figure skating-No timeline yet for U.S. team to get medals, USOPC says | One America News Network One America News Network - Breaking News Updates | Latest News Headlines | Photos and News Videos
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Motor racing-Battle of the 24-year-olds ticks a box for F1’s new era
LONDON (Reuters) – After last year’s battle of the generations, and young pretender Max Verstappen taking the title from seven times world champion Lewis Hamilton, Formula One’s new era has fired up a clash of 24-year-olds.
The season’s first two floodlit races in Bahrain and Saudi Arabia have seen Ferrari’s Charles Leclerc and Red Bull’s Verstappen — both 24 — go wheel-to-wheel with one victory apiece.
The pair, established stars of the youth wave coming through who were just kids when Mercedes’ Hamilton made his F1 debut in 2007, have been rivals since their formative years in go-karts.
“They were fighting when they were kids and now here for the first position in F1. It’s very good for F1, a fantastic start to the season,” enthused Ferrari team principal Mattia Binotto on Sunday night.
“In the last two races we’ve seen Charles and Max pass each other about 10 times, which we haven’t seen in previous seasons, and it’s been great racing,” he said.
“Of a sample of two, you’d have to say it’s a big tick in the box for the ability to follow closely and race wheel to wheel. It’s been outstanding.”
The next round is Australia on April 10 before Formula One returns to Europe and a home race for Ferrari at Italy’s Imola.
“We can see Ferrari are very, very quick and it’s going to be a busy period through the rest of the spring now to try and get performance to the cars, understand how the tyres are working and so on over these next few races.”
Once-dominant champions Mercedes meanwhile must tame a ‘porpoising’ car to get back in the game.
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2022-03-28T21:58:57Z
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Motor racing-Battle of the 24-year-olds ticks a box for F1’s new era | One America News Network One America News Network - Breaking News Updates | Latest News Headlines | Photos and News Videos
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(Reuters) – U.S. President Joe Biden has invited more than 800 Olympians and Paralympians from the Tokyo Summer and Beijing Winter Games to the White House in early May, the U.S. Olympic and Paralympic Committee (USOPC) said Monday.
“It’s also a great opportunity for them to reconnect outside the Games environment and for us to gather and truly celebrate all that they accomplished.”
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2022-03-28T21:59:12Z
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Olympics-Biden invites Tokyo, Beijing athletes to White House in unique event | One America News Network One America News Network - Breaking News Updates | Latest News Headlines | Photos and News Videos
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(Reuters) – Top seed Daniil Medvedev moved a step closer to reclaiming the world number one ranking with a 6-3 6-4 win over Spaniard Pedro Martinez on Monday that put the U.S. Open champion into the last 16 at the Miami Open.
Among those in fourth-round action on the women’s side on Monday are four-time Grand Slam champion Naomi Osaka, who is playing American Alison Riske, and new world number one Iga Swiatek, who will face 14th seed Coco Gauff.
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2022-03-28T21:59:20Z
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Tennis-Medvedev reaches last 16 in Miami, Brooksby up next | One America News Network One America News Network - Breaking News Updates | Latest News Headlines | Photos and News Videos
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FILE PHOTO: Signage is seen on a FedEx location in Manhattan, New York City, U.S., September 3, 2021. REUTERS/Andrew Kelly/File Photo
(Reuters) – FedEx Corp on Monday named its operating chief, Raj Subramaniam, as the new chief executive officer effective June 1, succeeding company founder Fred Smith, who started the global delivery conglomerate with more than a dozen planes in the 1970’s.
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2022-03-28T23:29:55Z
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FedEx names Raj Subramaniam as CEO, replacing founder Fred Smith | One America News Network One America News Network - Breaking News Updates | Latest News Headlines | Photos and News Videos
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FILE PHOTO: A Facebook logo is displayed on a smartphone in this illustration taken January 6, 2020. REUTERS/Dado Ruvic/Illustration/File Photo
WASHINGTON (Reuters) – The powerful U.S. Chamber of Commerce filed a brief on Monday, urging a D.C. appeals court to reject an appeal by a big group of U.S. states to revive their antitrust lawsuit against Meta Platform’s Facebook.
Judge James Boasberg of the U.S. District Court for the District of Columbia last July dismissed the states’ lawsuit against Facebook, saying they delayed in challenging the acquisitions of Instagram and WhatsApp in 2012 and 2014 respectively.
The business organizations argued further that the states were wrong in arguing that Facebook broke the law with exclusionary conduct, in executing what the states called a “buy-or-bury strategy.” The business groups’ brief called this position “dubious and dangerous.”
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2022-03-28T23:30:03Z
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U.S. Chamber sides with Facebook in antitrust appeal | One America News Network One America News Network - Breaking News Updates | Latest News Headlines | Photos and News Videos
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U.S. insurer AIG’s life and retirement unit files for IPO
FILE PHOTO: The AIG logo is seen at its building in New York's financial district March 19, 2015. REUTERS/Brendan McDermid/File Photo
(Reuters) -The holding company of U.S. insurer American International Group Inc’s life and retirement business, SAFG Retirement Services Inc, filed for an initial public offering in the United States on Monday.
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2022-03-28T23:30:18Z
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U.S. insurer AIG’s life and retirement unit files for IPO | One America News Network One America News Network - Breaking News Updates | Latest News Headlines | Photos and News Videos
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FILE PHOTO: A general view of London showing Tower Bridge, The Shard, London City Hall, The Fenchurch Building, also known as The Walkie Talkie, The Tower Of London, St. Paul's Cathedral, in London, Britain, March 23, 2022. Picture taken with a drone. REUTERS/Yann Tessier
LONDON (Reuters) – More than 7,000 finance jobs have moved from London to the European Union as a result of Brexit, down 400 from the total anticipated in December, consultants EY said on Tuesday.
“Staff and operational moves across European financial markets will continue as firms navigate ongoing geo-political uncertainty, post-pandemic dynamics and regulatory requirements,” Omar Ali, EMEIA financial services leader at EY, said in a statement.
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2022-03-29T01:01:09Z
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EY Brexit tracker finds 7,000 finance jobs have left London for EU | One America News Network One America News Network - Breaking News Updates | Latest News Headlines | Photos and News Videos
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U.S. Supreme Court takes up copyright battle over Warhol’s Prince paintings
WASHINGTON (Reuters) -In a case that could help clarify when and how artists can make use of the work of others, the U.S. Supreme Court on Monday agreed to decide a copyright dispute between a photographer and Andy Warhol’s estate over Warhol’s 1984 paintings of rock star Prince.
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2022-03-29T01:01:38Z
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U.S. Supreme Court takes up copyright battle over Warhol’s Prince paintings | One America News Network One America News Network - Breaking News Updates | Latest News Headlines | Photos and News Videos
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NFL-League says teams must add ‘diverse person’ to offensive coaching staff, expands Rooney Rule
FILE PHOTO: The NFL logo is pictured at an event in the Manhattan borough of New York City, New York, U.S., November 30, 2017. REUTERS/Carlo Allegri
NEW YORK (Reuters) – The National Football League (NFL) on Monday adopted several resolutions aimed at boosting diversity among coaching and front-office personnel, including a requirement to that each club hire a “diverse person” as offensive assistant coach.
The panel includes former Houston Texans General Manager Rick Smith, ex-New Jersey Attorney General Peter Harvey, former President and CEO of the McDonald’s Corporation Don Thompson plus other figures from the worlds of business and academia.
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2022-03-29T02:32:45Z
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NFL-League says teams must add ‘diverse person’ to offensive coaching staff, expands Rooney Rule | One America News Network One America News Network - Breaking News Updates | Latest News Headlines | Photos and News Videos
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HONG KONG (Reuters) -A “fragile” geopolitical environment has slowed trading volumes and initial public offerings on the Hong Kong stock exchange and created challenges for its commodities business, especially nickel, the bourse’s CEO said on Tuesday.
China-U.S. tensions, exacerbated by the Russia-Ukraine conflict, questions around the tightening regulatory environment for tech and platform companies and concerns about persistent global inflation have “weighed heavily on our markets”, said Nicolas Aguzin, chief executive of Hong Kong Exchanges and Clearing.
HKEX’s London Metals Exchange subsidiary suspended activity and cancelled nickel trades earlier this month due to volatility that saw prices double to more than $100,000 a tonne within hours. A spate of technical glitches after trading resumed left traders fuming.
At Tuesday’s event Aguzin re-emphasised that HKEX’s strategy is to focus its attention on connecting Chinese and global capital markets, and said the bourse was working on a series of initiatives to enhance the vibrancy of its markets.
“We’re seeing limited inflows of talent and an increasing number of individuals leaving the city which has resulted in a talent war in the financial industry,” he said.
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2022-03-29T04:03:50Z
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Hong Kong trading, IPOs hurt by geopolitics, says bourse CEO | One America News Network One America News Network - Breaking News Updates | Latest News Headlines | Photos and News Videos
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SHANGHAI (Reuters) -China’s Shanghai on Tuesday said it would roll out policies to help the local economy cope with a surge in COVID-19 cases in the city, including offering refunds that will reduce firms’ tax burdens by 140 billion yuan ($22 billion) in 2022.
Subsidy support will be given to companies in the retail and catering industries to send their staff for regular COVID tests, and will also be provided to front-line healthcare personnel and volunteers involved in the city’s fight against the pandemic.
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2022-03-29T04:03:58Z
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Shanghai says will hand out $22 billion in tax relief to firms amid COVID fight | One America News Network One America News Network - Breaking News Updates | Latest News Headlines | Photos and News Videos
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SYDNEY (Reuters) – Experienced Australia midfielder Katrina Gorry was recalled to the Matildas squad for next month’s two friendlies against New Zealand on Tuesday as she continues her comeback after having a daughter.
“When I took a step away to have Harper, I didn’t know if I wanted to return,” the 29-year-old said.
“I’m definitely looking forward to (the rest of the players) meeting (Harper) and her being able to look up to so many amazing women.”
“When Harper was born, I promised her I would do whatever I could to get into selection for that, and that’s exactly what I’m going to do,” she added.
“The World Cup for me is everything …”
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2022-03-29T04:04:06Z
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Soccer-Gorry in Matildas squad for first time since becoming a mother | One America News Network One America News Network - Breaking News Updates | Latest News Headlines | Photos and News Videos
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Analysis-As sanctions ‘weaponize’ US dollar, some Treasury buyers could fall back
(Reuters) – U.S. sanctions against Russia should hasten a move by some countries to reduce their reliance on the U.S. dollar, which could also soften demand for Treasuries just as the Federal Reserve, the largest holder of U.S. debt, looks to cut its bond holdings.
The United States and other Western nations have imposed widespread economic sanctions against Russia in response to its invasion of Ukraine, which have effectively cut off Russia’s central bank, sovereign wealth fund, banks, and certain individuals from entering into U.S. dollar transactions.
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2022-03-29T05:35:02Z
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Analysis-As sanctions ‘weaponize’ US dollar, some Treasury buyers could fall back | One America News Network One America News Network - Breaking News Updates | Latest News Headlines | Photos and News Videos
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Blue Origin’s 4th astro-tourism flight set to launch without big names
(Reuters) – The fourth commercial flight of Jeff Bezos’ space tourism venture Blue Origin, offering short suborbital joyrides to well-heeled thrill-seekers and celebrity guests, was due for liftoff on Tuesday from the company’s launch site in rural west Texas.
Blue Origin’s New Shepard spacecraft was slated for launch at 8:30 a.m. CDT (1330 GMT) with six would-be citizen astronauts strapped into the crew cabin atop the fully autonomous launch vehicle, standing nearly six stories tall, outside Van Horn, Texas.
But unlike Blue Origin’s first three commercial flights, with passenger rosters including “Star Trek” actor William Shatner, morning TV host Michael Strahan and even Bezos himself, nobody among the latest group of customers even comes close to being famous.
The most recent household name confirmed as a non-paying promotional guest, “Saturday Night Live” comic Pete Davidson, dropped out earlier this month when the planned launch was postponed for six days from its original March 23 date to allow time for additional pre-flight tests.
Kitchen’s journey to the final frontier caps a lifelong dedication to travel that has taken him to all 193 U.N.-recognized countries, according to biographical material from Blue Origin.
Tuesday’s entire flight, from liftoff to touchdown, is expected to last just over 10 minutes. The crew will experience a few minutes of weightlessness at the very apex of their suborbital ride, some 350,000 feet (106,680 metres) high, before their capsule falls back to Earth for a parachute landing on the desert floor.
Bezos, the billionaire founder of online retail giant Amazon, tagged along himself on Blue Origin’s inaugural crewed flight to the edge of space last July.
Later passengers included Shatner, who became the oldest person to fly to space at age 90, “Good Morning America” co-host and retired NFL star Strahan, and the eldest daughter of pioneering astronaut Alan Shepard, for whom Blue Origin’s spacecraft is named.
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2022-03-29T05:35:10Z
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Blue Origin’s 4th astro-tourism flight set to launch without big names | One America News Network One America News Network - Breaking News Updates | Latest News Headlines | Photos and News Videos
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STOCKHOLM (Reuters) – Ericsson Chief Executive Borje Ekholm faces his toughest challenge yet as shareholders vote on Tuesday on his handling of a probe into possible corruption in Iraq, a scandal which has upset investors and hammered the share price.
At Ericsson’s annual general meeting, shareholders will, among other things, vote on whether Ekholm and other board members could be personally liable for their actions.
Backed by top shareholder Investor AB, Ekholm revived the company’s performance and paid a $1 billion fine to the U.S. Justice Department to settle bribery cases in several countries.
But in the same year, Ericsson’s internal investigation showed another potential bribery case in Iraq.
“Cevian remains convinced of the strength and potential of Ericsson and its businesses,” it said. “Overall, we have confidence that the board and the CEO are capable of realizing that potential, and we will be voting for their re-election.”
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2022-03-29T05:35:25Z
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Ericsson CEO faces investor ire over handling of Iraq probe | One America News Network One America News Network - Breaking News Updates | Latest News Headlines | Photos and News Videos
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Sanofi targets Dupixent peak sales of over 13 billion euros
FILE PHOTO: Sanofi logo at the company's headquarters during the annual results news conference in Paris, France, February 4, 2022. REUTERS/Benoit Tessier
PARIS (Reuters) -French healthcare group Sanofi, which lagged rivals in the race for COVID-19 vaccines, raised on Tuesday its peak sales target for eczema-treatment product Dupixent to more than 13 billion euros ($14.3 billion).
“This new ambition does not include potential for additional sales ambition upgrade from chronic obstructive pulmonary disease (COPD), with pivotal readouts anticipated in 2023,” Sanofi said in a statement.
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2022-03-29T05:35:33Z
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Sanofi targets Dupixent peak sales of over 13 billion euros | One America News Network One America News Network - Breaking News Updates | Latest News Headlines | Photos and News Videos
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SINGAPORE (Reuters) – A Singapore court rejected on Tuesday an appeal against the execution of a Malaysian convicted of drugs smuggling, dismissing an argument put forward by his legal team that he should be spared because he was mentally impaired.
Nagaenthran Dharmalingam has been on death row for more than a decade for trafficking about 42.7 grammes (1.5 oz) of heroin into Singapore, which has some of the world’s toughest narcotics laws.
From 2016 to 2019, Singapore hanged 25 people – the majority for drug-related offences, according to official data.
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2022-03-29T05:35:56Z
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Singapore court rejects Malaysian’s appeal in high-profile execution case | One America News Network One America News Network - Breaking News Updates | Latest News Headlines | Photos and News Videos
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(Reuters) -Tesla’s announcement on Monday that it will seek shareholder approval to increase its share count in order to enable a stock split adds to a recent wave of megacap companies splitting their shares in a bid to attract more investors.
A stock split by Tesla, which would have be approved by its board of directors, would be the electric car maker’s second since 2020, and it would follow stock split announcements by other major U.S. companies in recent years.
Still, BofA Global Research said in recent research note that stock splits “historically are bullish” for companies that enact them, with their shares marking an average returns of 25% one year later versus 9% for the market overall.
Tesla’s stock surged 8% on Monday, adding over $100 billion to its stock market value.
Amazon has gained about 20% since March 9, when the ecommerce heavyweight announced a stock split that will take effect on June 6. That compares to a 7% gain in the Nasdaq during the same period. During that time, Wall Street has also seen a broad rebound in megacap growth stocks following losses earlier this year, as well as volatility related to rising interest rates and Russia’s invasion of Ukraine.
Tesla was the most traded stock among Fidelity’s online brokerage customers on Monday, with buy and sell orders almost evenly split, suggesting retail investors are cautious about the company.
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2022-03-29T05:36:04Z
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Tesla adds to wave of megacap stock splits | One America News Network One America News Network - Breaking News Updates | Latest News Headlines | Photos and News Videos
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FILE PHOTO: FILE PHOTO: The new GM logo is seen on the facade of the General Motors headquarters in Detroit, Michigan, U.S., March 16, 2021. REUTERS/Rebecca Cook
SHANGHAI (Reuters) – General Motors’ joint venture in Shanghai has maintained production amid the city’s lockdown by asking workers to sleep on factory floors and getting passes for trucks to continue deliveries, two people familiar with the matter said.
Such measures equate to a “closed-loop” management process, which China’s financial hub has asked companies to adopt to stay open during a two-stage lockdown to battle its COVID outbreak.
The facilities, which GM runs as part of a joint venture with Chinese state-owned automaker SAIC Motor Corp that produces Buick, Chevrolet and Cadillac vehicles, are in areas east of Shanghai’s Huangpu river that have been locked down from Monday to Friday.
GM’s ability to keep its Shanghai production lines running contrasts with that of Tesla, which Reuters reported has suspended production for the four-day period. It was unable to secure sufficient provisions for its workers to achieve closed-loop management, one source said.
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2022-03-29T07:09:03Z
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GM keeps up Shanghai output with workers sleeping on factory floor -sources | One America News Network One America News Network - Breaking News Updates | Latest News Headlines | Photos and News Videos
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(Reuters) – Iga Swiatek puts her rise to world number one on the same level as her French Open win in 2020 but the 20-year-old Pole says she feels much better prepared to handle the pressure of her latest career milestone.
“I have been doing well cutting off the expectations from the outside. It was always, for me, harder to deal with my own expectations that I had for myself.”
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2022-03-29T07:09:33Z
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Tennis-Swiatek ready to handle pressure of top ranking | One America News Network One America News Network - Breaking News Updates | Latest News Headlines | Photos and News Videos
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FILE PHOTO: Britain's Queen Elizabeth is seen during the funeral of Britain's Prince Philip, husband of Queen Elizabeth, who died at the age of 99, at St George's Chapel, in Windsor, Britain, April 17, 2021. Yui Mok/Pool via REUTERS/File Photo
LONDON (Reuters) – Britain’s Queen Elizabeth may make her first public appearance in five months on Tuesday when the royal family and other dignitaries gather for a memorial service in honour of her husband Prince Philip, who died last year.
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2022-03-29T07:09:41Z
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UK royals gather to pay tribute to Queen Elizabeth’s late husband | One America News Network One America News Network - Breaking News Updates | Latest News Headlines | Photos and News Videos
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CAPE TOWN (Reuters) – Depleted hosts South Africa will face a buoyant Bangladesh when the teams start the first of two tests at Kingsmead in Durban on Thursday, with more history in the sights of the visitors after their victory in the One-Day International series.
“In Tests, teams take advantage of their (home) conditions, but as some of their main players are missing, we can be hopeful.”
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2022-03-29T08:42:39Z
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Cricket-Threadbare South Africa face rejuvenated Bangladesh in first test | One America News Network One America News Network - Breaking News Updates | Latest News Headlines | Photos and News Videos
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(Reuters) – The Russian finance ministry said on Tuesday it has fully paid a coupon on Russia’s Eurobond due in 2035, its third payout since unprecedented Western sanctions called Moscow’s ability to service foreign currency debt into question.
The ministry said it had channelled $102 million for the coupon payout on the Eurobond to Russia’s National Settlement Depository (NSD).
“The Russian finance ministry has fully executed its obligations to service sovereign securities of the Russian Federation in accordance with the Eurobond prospectus,” the ministry said.
According to the Eurobond prospectus, settlement with investors occurs through the NSD and Euroclear, and “if, for reasons beyond its control, the Russian Federation is unable to make payments… in U.S. dollars”, settlement may be in euros, Pound sterling, Swiss francs or Russian roubles.
Russia’s next payment is on March 31 when a $447 million payment falls due. Its biggest payment of the year – and its first full repayment of principal, of $2 billion – is due on April 4.
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2022-03-29T08:42:54Z
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Russia says it has fully paid $102 million coupon on 2035 Eurobond | One America News Network One America News Network - Breaking News Updates | Latest News Headlines | Photos and News Videos
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Surfing-Australia’s shark-punching Fanning to come out of retirement again
FILE PHOTO: Mick Fanning of Australia, who survived a shark attack, reacts during a media conference in Sydney, Australia July 21, 2015. A visibly shaken Fanning arrived home in Australia on Tuesday saying he would not turn his back on surfing despite needing a "miracle" to survive a shark attack off the coast of South Africa at the weekend. REUTERS/David Gray
(Reuters) – Australia’s Mick Fanning, a triple world champion who grabbed international headlines by escaping a shark attack by punching the animal, will make another return to professional surfing four years after he announced his retirement.
“Bells is the wildcard I really wanted,” Fanning, who made a brief return to the pro tour at the Narrabeen Classic last year, said in a statement.
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2022-03-29T08:43:01Z
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Surfing-Australia’s shark-punching Fanning to come out of retirement again | One America News Network One America News Network - Breaking News Updates | Latest News Headlines | Photos and News Videos
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The partial ban on Russia-bound auto items, which account for more than half of Japan’s exports to Russia, came after Prime Minister Fumio Kishida made a commitment to place more sanctions on Russia at a Group of Seven summit last week.
“In cooperation with the U.S. and the EU, Japan joins the sanction against Russian oligarchs and the ruling class,” a ministry official told a media briefing.
The inclusion of luxury cars on the list “may have a certain impact” on Japanese exports, but not a sizable one, the official said, adding Japanese cars sold to Russia are mostly models that sell for less than 6 million yen.
In 2021, Japan sold 358 billion yen worth of automobiles to Russia, making it Japan’s main export item to Russia, equivalent to 41.5% of Japan’s exports there, according to government trade data.
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2022-03-29T10:14:08Z
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Japan to ban Russia-bound exports of luxury cars, goods from April 5 | One America News Network One America News Network - Breaking News Updates | Latest News Headlines | Photos and News Videos
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PARIS (Reuters) – Russian airlines could be frozen out of the aircraft leasing market well beyond the Ukraine conflict, one of the industry’s biggest players warned on Tuesday, blaming what executives have described as a default involving hundreds of Western jets.
Global leasing companies had until Monday to sever ties with Russian carriers under Western sanctions imposed over Moscow’s invasion of Ukraine, but executives say only a fraction of the more than 400 jets directly involved have been returned.
Domhnal Slattery, chief executive of Dublin-based Avolon, the world’s second-largest leasing firm, told Reuters its own risk is limited, with a net exposure of below $200 million on 10 jets still blocked in Russia after it recovered four aircraft.
But the mainly Ireland-based leasing sector, which accounts for about half of the world’s airline fleet, will be in no hurry to reset relations with Russian airlines even if sanctions against Moscow are lifted, he predicted.
“From an Avolon perspective it is not material; from a sector perspective it is a problem, unquestionably,” Slattery added.
“In terms of future appetite in a post-war scenario for further business in Russia, I think all players in our sector will think long and hard about the risks of that jurisdiction and the appetite for going back in,” he said in an interview.
Moscow earlier this month introduced a law allowing airlines to re-register leased planes locally in a move widely seen as encouraging airlines to hold onto planes and avoid a collapse of Russia’s airline sector, which relies heavily on leasing.
Avolon, controlled by Bohai Leasing, a majority-owned subsidiary of China’s HNA Group, has a gross exposure of just under $400 million to Russia, Slattery said.
After deducting the value of four jets that have been recovered, as well as security and letters of credit that have been drawn down, Avolon’s net exposure is below $200 million.
“Given our scale that puts it in the realm of a headache rather than a migraine,” Slattery said.
“We believe our aircraft are all appropriately insured…, all the leases are terminated and we will continue to try to get them back,” he added.
Russia’s airline industry, the world’s 11th largest, had 980 aircraft in its fleet on the eve of the invasion of Ukraine, of which 777 were leased rather than owned by the carriers.
Of these, 515 were leased from foreign firms and about 400 of those – worth up to $10 billion – were most immediately at risk from the crisis, according to aviation data firm Cirium.
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2022-03-29T11:45:08Z
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Avolon says bruised jet lessors in no hurry to return to Russia | One America News Network One America News Network - Breaking News Updates | Latest News Headlines | Photos and News Videos
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FILE PHOTO: A symphony of light consisting of bars, lines and circles in blue and yellow, the colours of the European Union, illuminates the south facade of the European Central Bank (ECB) headquarters in Frankfurt, Germany, December 30, 2021. REUTERS/Wolfgang Rattay
BRUSSELS (Reuters) – The European Central Bank is ready to organise a scheme for millions of Ukrainian refugees to exchange their hryvnia currency into euros if the EU gives the ECB a guarantee that would cover the bank’s risk, an ECB document showed.
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2022-03-29T11:45:16Z
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Exclusive-ECB ready to set up money exchange for Ukrainian refugees with EU guarantee | One America News Network One America News Network - Breaking News Updates | Latest News Headlines | Photos and News Videos
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Nielsen agrees to sweetened $10-billion offer from private equity group
(Reuters) – Nielsen Holdings on Tuesday agreed to go private for $10.06 billion in a sweetened deal with private equity firms led by Elliott Management and Brookfield Asset Management, days after the TV rating firm rejected a bid from the group.
The deal offers $28 for each Nielsen share, a premium of 60% since early March when the deal talks were first reported. Shares of Nielsen jumped about 21% in mid-day trading.
Nielsen had earlier this month rejected an offer of $25.40 per share from the consortium without naming the suitors.
The offer was led by Brookfield and Elliott Management’s tech-focused private equity arm Evergreen Coast Capital Corp, a source familiar with the matter said on Tuesday.
“As a private company, Nielsen will be even better positioned to deliver the best measures of consumers’ rapidly changing behaviors across all channels and platforms,” said Dave Gregory, Managing Partner at Brookfield Business Partners, which is investing about $2.65 billion in preferred equity.
Including debt, Tuesday’s deal is valued at $16 billion. The transaction is expected to close in the second half of 2022.
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2022-03-29T17:50:43Z
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Nielsen agrees to sweetened $10-billion offer from private equity group | One America News Network One America News Network - Breaking News Updates | Latest News Headlines | Photos and News Videos
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SAO PAULO (Reuters) – Citigroup Inc expects its revenue in Brazil to grow 50% over the next three years, the chief executive of its local unit said on Tuesday, adding that demand for advisory services on mergers and acquisitions remains strong in early 2022.
Marcelo Marangon also said the lender does not expect to get back to retail banking in the South American country in coming years. Citi sold its retail business in Brazil to Itau Unibanco in 2016.
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2022-03-29T17:50:51Z
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Citi expects revenue in Brazil to grow 50% over the next 3 years | One America News Network One America News Network - Breaking News Updates | Latest News Headlines | Photos and News Videos
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(Reuters) – Five-times champion Tiger Woods will play a practice round at Augusta National Golf Club on Tuesday to determine whether he is fit enough to compete at next week’s Masters, according to a Sports Illustrated report.
Woods said last month that he had a “long way to go” in his recovery but recent reports have stated he was planning to visit Augusta National this week ahead of the year’s first major.
As per tournament protocol, Woods’ name will remain on the list of competitors that appear on the Masters website unless the 15-times major champion notifies Augusta National that he will not compete.
Woods’ only event since the single-car accident came last December when he finished runner-up alongside his son in a 36-hole exhibition played on a flat course with no rough.
The Masters is the only one of golf’s four majors played annually on the same course and so familiarity with the famed layout has always been considered an advantage.
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2022-03-29T17:51:15Z
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Mr Isaac Siaw, 42, a shop owner, attends customers at Makola market, one of the country's largest trading centres in Accra, Ghana March 26, 2022. Picture taken March 26, 2022. REUTERS/Francis Kokoroko
ACCRA (Reuters) – Ghana’s parliament approved a new 1.5% tax on electronic payments, known as the “e-levy,” on Tuesday after the opposition walked out in protest.
Finance Minister Ken Ofori-Atta proposed the e-levy in November to widen the tax net and has presented it as a panacea for Ghana’s raft of financial woes. Opposition was so fierce that it caused a brawl in parliament a month later.
Critics believe the e-levy will price lower-income people and small business owners out of the digital economy, while Ofori-Atta said it was a way to ensure Ghanaians “contribute their fair share” toward development.
Analysts have said that the passage of the e-levy could reassure investors and lenders of Ghana’s ability to make tough choices to generate revenue, helping to narrow government bond spreads.
Ruling members of parliament re-introduced the bill on Tuesday, when many opposition MPs were not present, a surprise move analysts had previously said would be one of the only ways for the tax to pass.
Ghana, one of West Africa’s largest economies, is facing rampant inflation, a depreciating currency and a heavy debt burden. Its credit ratings have been downgraded over concerns about the government’s ability to pass legislation to raise revenues.
(Reporting by Cooper Inveen; Additional reporting by Rachel Savage, Marc Jones and Rodrigo Campos; Writing by Nellie Peyton and Sofia Christensen; editing by David Evans, Emelia Sithole-Matarise and Mark Porter)
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2022-03-29T17:51:23Z
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Ghana approves tax on electronic payments despite opposition protest | One America News Network One America News Network - Breaking News Updates | Latest News Headlines | Photos and News Videos
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NEW YORK (Reuters) – The U.S. Treasury yield curve is flashing a warning sign to Wall Street, where many are worried that a recession could be in store after bond investors pushed up short-term rates to the point where yields on the 2-year Treasury were actually higher than the 10-year Treasury.
Such a phenomenon, called a “yield curve inversion,” is a key metric that investors watch as bond yields impact other asset prices, feed through to banks’ returns and have been an indicator of how the economy will fare. Aside from signals it may flash on the economy, the shape of the yield curve has ramifications for consumers and business.
On Tuesday, one of the most closely-watched parts of the curve, the two-year to 10-year curve, inverted, sending a warning sign for investors that a recession could follow. The last time it inverted was 2019 and the following year, the United States entered a recession – albeit one caused by the global pandemic.
“A lot of people focus on this and there could be a self-fulfilling expectation, they see the 10 year/2 year invert and believe there will be a recession and change behavior,” said Campbell Harvey, Professor of Finance at the Fuqua School of Business, Duke University, who pioneered using the yield curve as a predictive tool for recessions. “So if you’re a company you cut back capex and employment plans.”
Harvey, who focused his research on a different part of the yield curve, added that being prepared for a recession was “not a bad thing… so when it occurs you survive.”
Broker-dealer LPL Financial said the 2/10 inversion is “a powerful indicator” pointing out that it predating all six recessions since 1978, with just one false positive.
“There is a reason this indicator is so widely followed,” those analysts said.
Not everyone is convinced the curve is telling the whole story. Some say the Fed’s bond buying program of the last two years has inflated the price of 10-year Treasuries, keeping the yield artificially low. They say the yield is bound to rise when the central bank starts shrinking its balance sheet, steepening the curve.
Eric Winograd, senior economist, AllianceBernstein said discussion of the yield curve inversion was “overheated.”
“I understand the narrative and I think from a risk-taking perspective there is good evidence that a flat or inverted yield curve is a challenge for broader risk assets but I am not going to worry more about a recession if the yield curve inverts by 5 basis points or doesn’t,” Winograd said.
Investors may be more dismissive of an inversion this time around, as the Fed remains very early in the hiking cycle, with time to pull ease off the brakes if the economy appears to be slipping into a downturn, TD’s Goldberg said.
Researchers at the Fed, meanwhile, put out a paper https://www.federalreserve.gov/econres/notes/feds-notes/dont-fear-the-yield-curve-reprise-20220325.htm on March 25 that suggested the predictive power of the spreads between 2- and 10-year Treasuries to signal a coming recession is “probably spurious,” and suggested a better herald of a coming economic slowdown is the spread of Treasuries with maturities of less than 2 years.
“I’ve had a lot of questions about whether this time is different because of QE and other reasons keeping the term premium artificially flat, and thus reducing the recession signaling properties of 2s10s and other yield curve measures,” wrote Deutsche Bank’s Jim Reid.
“However, for me I think about it very differently. I don’t care why the curve inverts as I think the transmission mechanism is through animal spirits.”
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2022-03-29T19:22:07Z
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Analysis-U.S. Treasuries yield curve flashes red to investors | One America News Network One America News Network - Breaking News Updates | Latest News Headlines | Photos and News Videos
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Biden says ‘we’ll see’ if Russia de-escalates in Ukraine
WASHINGTON (Reuters) – U.S. President Joe Biden on Tuesday said it remains to be seen whether Russia follows through with any actions to scale down its military operations in Ukraine, saying Washington and its allies will continue with strong sanctions and aid for Ukraine.
“We’ll see if they follow through with what they’re suggesting” as Moscow-Kyiv negotiations continue, he told reporters at the White House following his meeting with Prime Minister Lee Hsien Loong of Singapore. “We’re going to continue to keep a close eye on what’s going on.”
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2022-03-29T19:22:14Z
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Biden says ‘we’ll see’ if Russia de-escalates in Ukraine | One America News Network One America News Network - Breaking News Updates | Latest News Headlines | Photos and News Videos
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TOKYO (Reuters) – Nintendo Co shares slumped 5% in early Tokyo trading after the Kyoto-based gaming firm said it was pushing back the release of the hotly awaited sequel to “Legend of Zelda: Breath of the Wild” to spring 2023 from this year’s planned debut.
The original “Breath of the Wild” was a Switch launch game in 2017 and has sold more than 25 million units.
The widely emulated title was praised for its open world gameplay. Nintendo launched a spin-off, “Hyrule Warriors: Age of Calamity”, in 2020.
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2022-03-30T02:59:13Z
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Nintendo shares slump 5% on ‘Legend of Zelda’ delay | One America News Network One America News Network - Breaking News Updates | Latest News Headlines | Photos and News Videos
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FILE PHOTO: U.S. one dollar banknotes are seen in front of displayed stock graph in this illustration taken, February 8, 2021. REUTERS/Dado Ruvic/Illustration
(Reuters) – The U.S. Treasury yield curve, widely watched as a barometer of the economy’s health, briefly “inverted” on Tuesday in a warning sign bond investors see a recession on the horizon.
For example, JPMorgan Chase & Co funds more than half of its balance sheet with low-cost deposits, the cost of which tends to move up very slowly. The average rate for all of JPMorgan’s interest-bearing liabilities in the fourth quarter was only 0.22%. That is a long way from Tuesday’s 2.4% yield on 2-year Treasuries.
The bigger threat to banks is the risk of recession, which could hurt consumer spending and hinder Americans’ ability to repay loans.
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2022-03-30T06:01:47Z
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Explainer-Why an inverted yield curve may not be all bad for U.S. banks | One America News Network One America News Network - Breaking News Updates | Latest News Headlines | Photos and News Videos
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(Reuters) – Wimbledon finalist Matteo Berrettini underwent a minor operation on his playing hand on Tuesday following his withdrawal from the ATP 1000 event in Miami, the Italian world number six said.
“My doctor and team are already discussing plans for me to get back on-court. I will provide an update as soon as this plan is finalised,” he added.
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2022-03-30T06:02:25Z
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Tennis-Italian Berrettini undergoes minor surgery on playing hand | One America News Network One America News Network - Breaking News Updates | Latest News Headlines | Photos and News Videos
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(Reuters) – Former Grand Slam champions Dominic Thiem and Stan Wawrinka focused on the positives on Tuesday after suffering straight-sets defeats on their return to competition from long spells out injured.
“I’ve been practising well and I’m going to keep practising and keep building for the next few weeks. I’m not worried at all.”
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2022-03-30T06:02:33Z
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Tennis-Thiem, Wawrinka stay positive after defeats on return | One America News Network One America News Network - Breaking News Updates | Latest News Headlines | Photos and News Videos
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TOKYO (Reuters) -Toyota Motor Corp said on Wednesday its group, including Daihatsu and Hino Motors Ltd, produced and sold record-high vehicles for February in markets outside Japan despite a parts shortage triggered by the COVID-19 outbreak.
The group’s overseas production in February was 531,183 vehicles, a 16% increase from the same month last year, while sales was 620,360, a 5.2% jump from the same period a year ago.
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2022-03-30T06:02:40Z
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Toyota group production, sales outside Japan rise to record for Feb | One America News Network One America News Network - Breaking News Updates | Latest News Headlines | Photos and News Videos
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Soccer-South Korea coach Bento slams ‘worst performance’ in loss to UAE
(Reuters) – South Korea head coach Paulo Bento said the team produced their “worst performance” in Tuesday’s 1-0 defeat by the United Arab Emirates, which saw them finish second in their World Cup qualifying group.
Bento’s side, who had already qualified for the World Cup, ended second in Group A on 23 points. Iran beat Lebanon 2-0 to leapfrog the Koreans and finish top on 25 points.
UAE’s Hareb Abdalla scored in the 54th minute in Dubai, handing the Koreans their only defeat of the qualifying phase.
“What we did today was the worst performance we’ve had,” coach Bento told reporters after the match. “We should be disappointed with more than the result, with the performance and with the attitude.
“After winning the previous game and getting the first position, and losing the first position in the next game, competing and playing as we did … For me, it’s not normal.”
“I think that all of us should think about what we did today and what we want to do in the future,” he added.
“If we want to compete like today or like five days ago.”
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2022-03-30T07:33:33Z
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Soccer-South Korea coach Bento slams ‘worst performance’ in loss to UAE | One America News Network One America News Network - Breaking News Updates | Latest News Headlines | Photos and News Videos
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Canada to help offset food and energy shortages caused by Ukraine crisis – PM Trudeau
FILE PHOTO: Canada's Prime Minister Justin Trudeau speaks during Question Period in the House of Commons on Parliament Hill in Ottawa, Ontario, Canada, March 22, 2022. REUTERS/Patrick Doyle/File Photo
OTTAWA (Reuters) – Canadian Prime Minister Justin Trudeau said on Tuesday that his government can help the world overcome food and energy shortages in the coming months that may result from Russia’s invasion of Ukraine.
“For the coming months, Canada can help put food on the table and keep the lights on,” Trudeau said in a speech in Vancouver centered mainly on his government’s efforts to cut greenhouse gas emissions.
“The leaders I spoke with in Europe over the last couple of weeks are clear: they don’t just want to end their dependence on Russian oil and gas. They want to accelerate the energy transformation to clean and green power. And Canadians have a big role in that work,” he said.
(Reporting by Steve Scherer, Editing by Franklin Paul)
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2022-03-30T09:04:23Z
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Canada to help offset food and energy shortages caused by Ukraine crisis – PM Trudeau | One America News Network One America News Network - Breaking News Updates | Latest News Headlines | Photos and News Videos
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Thai central bank holds fire on rates as economic growth forecast lowered
BANGKOK (Reuters) – Thailand’s central bank left its key interest rate unchanged at a record low on Wednesday, maintaining support for a pandemic-hit economy facing global risks.
The Bank of Thailand’s (BOT) monetary policy committee unanimously voted to hold the one-day repurchase rate at 0.50%, where it has been since May 2020, for a 15th straight meeting. The central bank cut the rate three times in 2020.
Wednesday’s decision was expected by all 22 economists in a Reuters poll.
Southeast Asia’s second-largest economy grew 1.6% last year, which was among the lowest growth rates in the region, after a 6.2% contraction in 2020.
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2022-03-30T09:04:54Z
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Thai central bank holds fire on rates as economic growth forecast lowered | One America News Network One America News Network - Breaking News Updates | Latest News Headlines | Photos and News Videos
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Cricket-Australia farewells “legend” Warne at MCG memorial
MELBOURNE (Reuters) – Australian cricketer Shane Warne was farewelled at a state memorial at the Melbourne Cricket Ground on Wednesday where tens of thousands of people gathered to remember one of the game’s finest players at his home stadium.
A private funeral service was held for Warne’s closest friends and family in Melbourne last week but all were invited to Wednesday’s televised memorial where his father Keith mourned the loss of “a loving and caring son” and his former team mates remembered a fierce and mischievous competitor.
“Shane said of himself, ‘I smoked, I drank and I played a little cricket,'” Keith Warne said in his eulogy.
“Mate, your mother and I can’t imagine a life without you. You have been taken too soon and our hearts are broken. Thank you for all you did for us.”
Warne is arguably Australia’s most revered cricketer after the great Don Bradman, who regarded him the game’s best ever legspinner.
Greta Bradman, the granddaughter of the Depression-era batsman and captain, sang Australia’s national anthem at the evening memorial.
Former Australia skipper Allan Border thanked Warne for reinvigorating his captaincy, England’s Nasser Hussain remembered a “great sledger” and West Indies batting legend Brian Lara said he was the finest Australian he had ever played.
Briton Elton John sang his classic 1974 song “Don’t Let the Sun Go Down on Me”, while Chris Martin, frontman for Coldplay, sang the rock group’s 2000 hit “Yellow”.
“Shane is a classic, an Australian legend and I was honoured to call him a friend,” 11-times world surfing champion Kelly Slater said in a video.
Fans filing into the MCG before the memorial paused at Warne’s statue outside the stadium, taking photos of the flowers, beer cans and cigarette packets left by others in the wake of his death.
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2022-03-30T10:36:01Z
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Dima, a three-year-old boy who was wounded during the shelling of Mariupol, lies in a bed in children's ward of the hospital, as Russia's invasion of Ukraine continues, in Zaporizhzhia, Ukraine, March 29, 2022. REUTERS/Marko Djurica
LVIV, Ukraine/KYIV OUTSKIRTS (Reuters) – Ukraine and its Western allies on Wednesday dismissed a Russian military pullback from near Kyiv as a ploy to refit troops after heavy losses, even as invading forces bombard cities elsewhere and press on with the obliteration of besieged Mariupol.
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2022-03-30T10:36:39Z
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We are ‘not naive’, Zelenskiy says, as Russians pull back near Kyiv after losses | One America News Network One America News Network - Breaking News Updates | Latest News Headlines | Photos and News Videos
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Factbox-The three stages of Germany’s emergency gas plan
FILE PHOTO: Pipes are pictured at a gas compressor station in Mallnow, Germany, November 1, 2021. REUTERS/Hannibal Hanschke
FRANKFURT (Reuters) – Germany on Wednesday triggered the first of three stages of its emergency gas plan, effectively warning of potential disruptions of energy imports from Russia, its biggest supplier.
Here is a closer look at the three stages, which are all communicated by Germany’s Economy Ministry:
– This stage is triggered when there are “concrete, serious and reliable indications that an event may occur which is likely to lead to a significant deterioration of the gas supply situation and probably to the alarm or emergency level.”
– Gas companies continue to ensure supplies, there are no supply disruptions yet.
– Gas transmission system operators (TSOs), or network operators, update Germany’s Economy Ministry at least once a day on the supply situation.
– Electricity TSOs coordinate to ensure the stability of their grids.
– Gas suppliers advise the government and are part of the crisis team.
– The government immediately informs the European Commission about potential further measures, which can include revoking the early emergency status if the conditions are no longer met.
– This stage is triggered when there “is a disruption in the gas supply or an exceptionally high demand for gas which leads to a significant deterioration of the gas supply situation, but the market is still able to cope with this disruption or demand without the need to take non-market based measures.”
– It kicks in when there is a high risk of long-term supply shortages of gas.
– There are no changes compared with the first phase, but all market players, including TSOs and gas suppliers, are under more pressure to balance out disruptions via efficiency and short-term measures such as procuring gas from alternative sources.
– This stage is triggered when there “is an exceptionally high demand for gas, a significant disruption in gas supplies or another significant supply situation and all relevant market-based measures have been implemented, but gas supply is insufficient to meet the remaining gas demand so that additional non-market based measures need to be taken, in particular to ensure the supply of gas to protected customers.”
– State intervention kicks in because market fundamentals no longer apply, effectively meaning that remaining gas supplies are rationed.
– This is done by the German network regulator, the Bundesnetzagentur, which is tasked with securing the “vital demand for gas with special consideration of protected customers and minimising consequential damage.”
– In broad brush terms, supply to industry is curtailed first, while households and critical institutions such as hospitals continue to receive available gas.
(Reporting by Christoph Steitz; Editing by Mark Potter)
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2022-03-30T12:07:24Z
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(Reuters) – A Zimbabwean company that had been banking on Chinese financing to build a major coal-fired power plant says it is now looking for alternative backers as China pulls back on funding such projects overseas.
The effort by RioZim Ltd, one of Zimbabwe’s biggest mining and energy companies, reflects how China’s recent U-turn on foreign coal financing is forcing developing nations across Africa and Asia to rethink their energy plans. China, which had been a top funder of coal power projects around the globe, announced in September it would not build new coal projects abroad as part of efforts to curb future carbon emissions.
RioZim’s energy division, Rio Energy, had been hoping for funding for the planned plant and associated coal mine from Chinese banks Industrial and Commercial Bank of China (ICBC) and China Minsheng Banking Corporation Ltd.
RioZim told Reuters that ICBC and Minsheng Bank “came in to play a supporting role” but that it can’t comment on the current status of their involvement because it doesn’t have a direct relationship with the companies. Chinese bank financing for coal power plants overseas has often been arranged to support Chinese construction companies, which then enter into building contracts with the company planning the power plant.
ICBC did not respond to requests for comment, including about the meeting or whether it plans to fund the Sengwa project. Minsheng Bank also didn’t respond to Reuters questions about funding plans.
China’s foreign ministry didn’t respond to questions about the status of the funding of the Sengwa and Lusulu projects. But it said Beijing will support developing countries in shifting to greener energy.
The foreign ministry added that China, which has close economic and diplomatic ties with Harare, “will increase its support to Zimbabwe’s development of renewable energy power projects, and help Zimbabwe’s sustainable development.”
Despite the lack of clarity about what Xi’s announcement means for planned projects, no new coal plants have since publicly announced Chinese support, “suggesting the international financing tap for new coal projects from China has indeed been turned off,” said Shearer.
Globally, some $63 billion of Chinese state financing across 57 projects could be at risk from China’s withdrawal from coal financing overseas, according to Global Energy Monitor. The pullback could cut Africa’s pipeline of coal power projects by two thirds to 3.6 gigawatts (GW), estimates think tank E3G.
A Minsheng Bank official who signed the document said in an emailed response to Reuters that the letter of interest was “a trade secret” and didn’t respond to questions about funding plans. Spokespeople for Minsheng Bank and ICBC didn’t respond to requests for comment.
In response to questions about the planned Sengwa plant, CGGC’s parent company China Energy Engineering Corporation told Reuters that a subsidiary signed a construction cooperation agreement in 2020. “There is no progress on this project currently,” it said, citing a lack of financing commitments.
PER Lusulu Power plans to build the 2.1 GW Lusulu plant in Zimbabwe’s western province of Matabeleland North. It announced in 2015 that Chinese financial institutions had agreed to fund its construction, subject to conditions. PER Lusulu Power’s website says the company entered into a construction contract with China State Construction Engineering Corporation, which would secure debt finance from Bank of China.
Bank of China said in a statement that it doesn’t have any electricity projects in Zimbabwe and has no plans to develop any. ICBC and China State Construction Engineering did not respond to questions about the Lusulu project.
One Chinese-funded project that is progressing is in the northwestern town of Hwange, where construction was already well underway when China announced its coal-funding freeze. The project involves the expansion of an existing coal-power plant and has been financed by a loan of roughly $1 billion from Export-Import Bank of China, the Zimbabwe government has said.Zimbabwe Power Company, which manages the plant, said in a November statement that the expansion “continues to progress well” and was more than two thirds complete. China’s EximBank didn’t respond to a request for comment.
The project is expected to increase employment by nearly doubling the current 2,853-strong workforce, while also sustaining the town’s coal-mining industry, which employs thousands more people. The Zimbabwean government spokesperson said the country will be much better placed to meet electricity demand once the expansion – which is due to add 600 megawatts – is complete.
Renewable power advocates in Africa and elsewhere say China’s pullback from coal power provides an opportunity to clean up. Zimbabwe is expanding its plans for generating renewable energy, such as solar power, but such projects can require fewer permanent employees than coal, making them less attractive for governments keen to generate employment.
Sydney Gata, executive chairman of the Zimbabwe Electricity Supply Authority, said that an instant switch to solar and wind isn’t feasible given the scale of the country’s power needs.
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2022-03-30T12:07:47Z
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FILE PHOTO: An employee of the Broadway Kids (Pvt) Ltd apparel factory checks the diesel can while refilling the generator during a seven hour power outage at the factory in a suburb of Colombo, Sri Lanka March 3, 2022. Picture taken March 3, 2022. REUTERS/Dinuka Liyanawatte
COLOMBO (Reuters) – Swathes of Sri Lanka faced prolonged power cuts on Wednesday as a deepening economic crisis roiled markets and buffeted businesses, with the government unable to pay for fuel shipments because of a foreign exchange shortage, an official said.
Janaka Ratnayake, Chairman of the Public Utilities Commission of Sri Lanka, said the drawn-out power cuts were partly a result of the government’s inability to pay $52 million for a 37,000 tonne diesel shipment that is awaiting offloading.
“We have no forex to pay,” Ratnayake told Reuters. “That is the reality.”
Electricity generation has also been hit by low water levels at hydropower facilities during the ongoing dry season, Sri Lanka’s power ministry said.
An IMF assesment published on Friday said Sri Lanka was experiencing a combined balance of payments and sovereign debt crisis, and would need a “comprehensive strategy” to make its debt sustainable.
Harpo Gooneratne, a restaurateur in Sri Lanka’s main city of Colombo, said the diesel shortage made it difficult to operate his 10 restaurants during power cuts despite some of them having their own generators.
“Its crazy,” said Gooneratne, who employs 150 people at his establishments. “This is an unprecedented situation and the worst part is we don’t know how long it’s going to last.”
The deteriorating electricity situation will hit already struggling business, especially exporters that have locked in orders and limited capacity to absorb cost increases, said Dhananath Fernando, an analyst at Colombo’s Advocata Institute think tank.
“This will further hurt Sri Lanka’s growth and threaten foreign exchange earnings that are crucial to improve reserves, repay debt and pay for essential imports,” Fernando said.
Sri Lanka’s economy grew at a slower-than-expected 1.8% in the fourth quarter of the 2021 financial year, taking its full year growth to 3.7%, government data showed on Tuesday.
“Even when people go out they are cautious about their spending,” he said. “The person who earlier had two beers will now only have one.”
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2022-03-30T12:08:03Z
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K.C. Fed’s George: Balance sheet debate needs to account for bond inversion risk
FILE PHOTO: Kansas City Federal Reserve Bank President Esther George addresses the National Association for Business Economics in Denver, Colorado, U.S. October 6, 2019. REUTERS/Ann Saphir
(Reuters) – The brief inversion of the U.S. bond yield curve on Tuesday is a cautionary sign for the Federal Reserve that may need to be factored into coming debates on management of the central bank’s balance sheet, Kansas City Fed President Esther George said on Wednesday.
As the Fed plans to hike short-term interest rates, she said, that could make an inversion even more likely unless the Fed also raises long-term rates by running down its balance sheet “significantly.”
“The balance sheet will need to decline significantly,” she said, citing the “distortive effects” the Fed’s nearly $9 trillion in holdings are having on financial markets. She said those holdings may have depressed 10-year Treasury yields by as much as 1.5 percentage points. “The interaction of higher policy rates with a large balance sheet will need to be considered,” George said. “Raising short-term rates while the balance sheet continues to depress longer-term yields will contribute to a flattening and inversion.”
Regarding short-term interest rates George said they could be increased in a “steady, deliberate” manner in coming months as the Fed tries to control inflation that has soared beyond its 2% target.
“Much of the economic fallout so far has been directed towards further disruptions to supply,” that would add to inflation, she said. But “both of these risks have implications for demand as well…Assessing the balance in real time will be difficult. Recognizing these risks is not an argument for stalling the removal of accommodation, but it does suggest a steady, deliberate approach for the path of policy could provide space to monitor developments as they unfold.”
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2022-03-30T18:13:02Z
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LONDON (Reuters) – Investors had hoped 2022 would be the year when the market recovery from COVID-19 finally got cemented and life started to feel a little more normal. Boy were they wrong.
Russia’s invasion of Ukraine combined with supercharged global inflation have ignited talk of new geopolitical and economic world orders, setting some staggering milestones in the process.
Add to that the world’s largest country being gouged out the global financial system, the biggest sovereign credit rating downgrade ever seen and pastings for Japan’s yen and Chinese stocks and the full picture becomes clear.
“It has been one of the most extraordinary quarters I can remember,” said Close Brothers Asset Management’s Chief Investment Officer Robert Alster. “…We all didn’t believe that Russia was going to invade Ukraine.”
However, the shocks far earlier than that, he noted. Investors suddenly grasped that the new Omicron COVID strain wasn’t going to shutter the global economy, and that the world’s most influential central bank, the U.S. Federal Reserve, was now serious about jacking up interest rates.
The main driver of global borrowing costs, the 10-year Treasury yield, leapt from under 1.5% to 1.8%, knocking 5% off MSCI’s world stocks index in January alone.
Added to the 57% surge in nickel and a 31% jump in wheat prices, which have both been driven higher by the Ukraine war, and BofA’s analysts estimate commodities are on course for their best year since 1915.
That “special military operation’, as Moscow terms it, has seen Russia hit with unprecedented Western sanctions and led to some of the world’s biggest investment funds talking about a new world order.
Russian companies that had shares listed in London and New York have had them removed, the rouble can’t be freely traded anymore and the country’s government and corporate bonds have been all been ejected from the major investment indexes.
President Vladimir Putin has retaliated by saying “unfriendly” places like Europe, where Germany gets more than half its gas from Russia, will have to start paying for the stuff in roubles.
Commodities heavyweights such as Brazil and South Africa meanwhile have the best performing currencies in the world, up 17% and 10% respectively since the start of the year, and Australia’s dollar is top out of the advanced economies.
“This is a tectonic shift from a geopolitical point of view,” Amundi’s Head of Multi-Asset strategies, Francesco Sandrini, said.
“No one could have imagined that an entire new world order of energy should have been considered.” he added. “Perhaps we are talking about literally the unwinding of globalisation.”
This week has also seen a dreaded – albeit brief – “inversion” of a key bit of the U.S. bond yield curve that has been a precursor of economic recessions.
It is the first time that has happened since 2019, while the broader rise in global yields means that the $18 trillion pile of negative-yielding bonds that existed a few years ago – where investors paid for the privilege of lending – is now almost gone.
There has also been a 9% drop in Japan’s ‘safe-haven’ yen versus the dollar this month, the biggest plunge by a G10 currency since the pound’s Brexit beating of 2016.
The yen’s slightly smaller 6% quarterly fall and a 2% drop by the euro means the dollar will score its third straight quarterly rise against its major peers, although it is actually down against emerging market units despite the anxiety caused by events in Ukraine.
Morgan Stanley’s veteran Head of Asia Macro Strategy, Min Dai, has been left dazed by it all. “For someone who has been following EM for most of my career, what happened in the past month is beyond belief,” he said.
(Additional reporting by Saikat Chatterjee and Dhara Ranasinghe in London)
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2022-03-30T18:13:10Z
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U.S. must push China for change but act to protect economic interests -USTR Tai
WASHINGTON (Reuters) -The United States will vigorously defend U.S. economic interests and values against the negative impacts of China’s economic policies as Beijing doubles down on its state-centered economic system, U.S. Trade Representative Katherine Tai said Wednesday.
Tai told the House Ways and Means Committee that Washington’s talks with Beijing about its unmet purchase commitments under a Phase 1 trade deal and broader non-market policies had been “unduly difficult” and new tools were needed.
“Going forward, our strategy will expand beyond only pressing China for change and needs to include vigorously defending our values and economic interests from the negative impacts of China’s economic policies and practices,” she said.
She said Washington “cannot stop pushing China for change,” but could no longer wait for China to change its policies, noting that tariffs on $300 billion to $400 billion in Chinese imports has not incentivized Beijing to make fundamental changes.
China only met about 60% of its Phase 1 deal commitments to increase U.S. purchases by $200 billion during 2020 and 2021 compared with 2017 levels and improve protections for U.S. intellectual property and grant more Chinese market access to U.S. financial services and agricultural biotechnology.
In addition to “continuing to create pressure for China to change,” Tai said the United States needed to take more steps on its side, including passing legislation in Congress to promote investments in innovation, semiconductors and the return of manufacturing supply chains to U.S. shores.
“That is the plan that we need to pursue going forward,” she said, echoing comments to Reuters last week.
(Reporting by Andrea Shalal, David Lawder and Michael Martina; editing by Jonathan Oatis)
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2022-03-30T18:13:42Z
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FILE PHOTO: A screen displays the ticker symbol and logo for Intercontinental Exchange Inc. (ICE) on the floor of the New York Stock Exchange (NYSE) March 1, 2016. REUTERS/Brendan McDermid
A potential relocation to Chicago is being evaluated, the sources said of a move that could stoke fresh concerns about Britain’s post-Brexit role in global finance.
Clearing has become a politically sensitive topic since Britain left the European Union, with Brussels saying that UK-based clearing houses such as ICE Clear Europe and the London Stock Exchange’s LCH would no longer be able to serve customers in the bloc after June 2025.
“The reason they are asking customers is that it reflects the way CDS clearing is done now,” one of the sources said.
“CDSClear continues to expand, and we are looking to develop our services for a wider range of customers,” said Frank Soussan, global head of CDSClear.
“The EU’s constant bickering with London post Brexit has fundamentally destabilised the business case for derivatives in Europe making the U.S. appear the more flexible, pro-business choice,” said Patrick Young, who writes a daily newsletter on exchanges.
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2022-03-30T19:44:21Z
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Ice hockey-After years of patience, Poulin sees momentum in women’s hockey
FILE PHOTO: 2022 Beijing Olympics - Victory Ceremony - Ice Hockey - Women's Gold Medal - Wukesong Sports Centre, Beijing, China - February 17, 2022. Marie-Philip Poulin of Canada celebrates with her gold medal during the medal ceremony. REUTERS/Brian Snyder
(Reuters) – Three-time Olympic gold medallist Marie-Philip Poulin said she was optimistic about the future of women’s professional hockey after a meeting between the National Hockey League (NHL) and two key factions in the sport.
“Every time you have a chance to have programs that help people play hockey to try to make them come to the rink, I think it’s very important.”
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2022-03-30T19:44:35Z
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DOHA (Reuters) – FIFA officials will look to put aside division and controversy and turn the focus to this year’s World Cup finals when they hold their annual congress in the Qatari capital on Thursday.
One source said it may still be possible for such a call to be made from the floor of the congress by a delegate but such an appeal would not be able to be acted upon according to the organisation’s statutes.
“When I hear some of the voices saying an Arab country doesn’t deserve to organise the World Cup because there is no history of football, or some nonsense like that, I completely disagree with it because the whole world deserves to have the World Cup,” Infantino told Reuters Television.
“I think a lot of fans, specially that live in the Northern Hemisphere are going to be excited that they can leave their cold countries to come here, enjoy the weather, go to the beaches, enjoy the food here, enjoy the different cultural attractions, the night life,” Nasser Al-Khater, CEO of the Qatari organising body, told Reuters.
“It’s going to be a special World Cup and we look forward to welcoming the fans here.”
(Reporting by Simon Evans, additional reporting by Iain Axon, editing by Ed Osmond)
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2022-03-30T19:44:51Z
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BANGKOK (Reuters) – Thousands attended the Bangkok International Motor Show this week where electric vehicles (EVs) were in the spotlight due to rising petrol prices and a government subsidy taking 15% off the price of some EV cars.
“I can’t handle paying for the price of gas anymore, so I’m here looking to buy an electric car,” said Natnicha Srimuang, who purchased an EV at the motor show. Thai gasoline prices are around 40 baht ($1.20) per litre, up 50% from last year.
Thailand is Asia’s fourth-largest auto assembly and export hub for companies like Toyota Motor Corp and Honda Motor Co Ltd.
State-owned energy firm PTT Pcl has teamed up with Taiwan’s Foxconn to produce EVs in Thailand by 2024.
“(The) EV car is only starting, and no one knows what kind of problems are going to happen,” said Ponchai Lertlai, 59.
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2022-03-30T19:44:59Z
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Cricket-Asia chief Shah to help aid sport’s growth in Africa
FILE PHOTO: Board of Control for Cricket in India (BCCI) Secretary Jay Shah speaks with the media during the inauguration ceremony of Gujarat Cricket Association (GCA) Indoor Academy in Ahmedabad, Gujarat, India December 10, 2020. Picture taken December 10, 2020. REUTERS/Amit Dave
MUMBAI (Reuters) – The Asian Cricket Council is set to play a role in helping grow the game in Africa through a plan prepared by ACC chief Jay Shah, a source told Reuters.
Shah, who is also the secretary of the powerful Indian cricket board (BCCI), is reviving the ‘Afro-Asian Cricket Project’, which was first mooted in 2005 by former International Cricket Council chief Jagmohan Dalmiya.
While the goal is the same, the new plan will approach it from a more “sustainable” angle, the source, a member of Shah’s team, said.
“Shah has proposed a model that is commercially viable, financially feasible and technically sustainable,” the source said. “The project will ensure that there is a real transformation at the grassroots level with age-group cricketers being the focus.”
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2022-03-31T06:23:50Z
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FILE PHOTO: The logo of airline company Air France is seen inside the Terminal 2 at Paris Charles de Gaulle airport in Roissy-en-France near Paris, France, December 2, 2021. REUTERS/Sarah Meyssonnier
(Reuters) – Air France-KLM will renew the mandate of CEO Ben Smith for an additional five years, the Franco-Dutch airline group said in a statement on Thursday.
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2022-03-31T07:55:05Z
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LONDON (Reuters) -Britain’s economy grew more quickly than previously thought in the last three months of 2021 as a surge in activity in the health sector around the onset of the Omicron wave of COVID-19 cases masked the inflation hit to household incomes.
Official data on Thursday showed gross domestic product in the world’s fifth-biggest economy increased by 1.3% in the fourth quarter from the previous three-month period.
That was stronger than the Office for National Statistics’ preliminary estimate of growth of 1.0%.
The GDP pick-up represented an acceleration from the economy’s 0.9% growth in the third quarter but was well below its 5.6% expansion in the April-June period of last year when it was rebounding from COVID-19 lockdowns.
The size of Britain’s economy at the end of 2021 was 0.1% below where it was at the end of 2019, revised from a previous estimate of 0.4% below its pre-pandemic level.
Britain’s balance of payments deficit in the fourth quarter narrowed to 7.3 billion pounds, helped by the first surplus since 2011 in the balance of British investment income abroad and foreign investment income in the country.
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2022-03-31T07:56:05Z
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(Reuters) -Premier League clubs voted in favour of reintroducing the use of five substitutes per game from the start of the 2022-23 season at a shareholder meeting, the organisation said on Thursday.
Soccer’s law-making body IFAB had recommended making the rule permanent, but the Premier League was the only top league in Europe to decide against continuing five substitutes from 2020-21 even as a number of managers voiced concerns about player fatigue.
“The wellbeing of players and staff remains a priority and the Premier League will continue to monitor the national COVID-19 situation and adapt League-wide protocols as required, in line with the latest guidance from public health authorities and medical experts,” the statement said.
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2022-03-31T15:32:22Z
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Soccer-Russia World Cup chief ‘serious’ about Euro hosting bid
DOHA (Reuters) – Russian soccer authorities are serious about a bid to host the European Championship in 2028 or 2032 despite their teams currently being suspended from competition, a senior official said on Thursday.
“I’m serious that Russia will be able to organise world class events and is technically able to do that right now,” he told reporters on the margins of FIFA’s annual congress in Qatar on Thursday.
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2022-03-31T15:32:30Z
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MADRID (Reuters) – Sales of consumer goods rose 13% in Spain in the wake of Russia’s invasion of Ukraine as supply concerns, exacerbated by a partial transport strike, prompted shoppers to stock up on staples, market research firm Kantar said on Thursday.
“Spain’s shoppers are starting to change their habits and it is directly related to the concern they are showing about the current scenario,” said Kantar, adding that 90% of consumers surveyed were worried about the impact of the conflict that began on Feb. 24.
“Consumers are becoming more selective, spending more time looking for cheaper alternatives,” Juan Aznar, a professor at Barcelona business school Esade told Reuters.
“Large shops with the capacity to maintain lower prices will be favoured in this circumstances.”
(Reporting by Corina Pons; Editing by Nathan Allen and Bernadette Baum)
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2022-03-31T15:32:38Z
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FILE PHOTO: The Amundi company logo is seen at their headquarters in Paris, France, October 7, 2015. REUTERS/Philippe Wojazer
(Reuters) – The United States is unlikely to face an economic recession in the next two years despite bond markets flashing warning signs, inflation at its highest in decades and rising geopolitical risks, portfolio managers at PIMCO and Amundi said.
A closely monitored part of the U.S. Treasury yield curve briefly inverted on Tuesday, a sign that investors were concerned the U.S. Federal Reserve’s aggressive rate hikes to tame inflation could tip the economy into recession.
“We see low probability of a recession this year or next. Our models show the risk is slightly higher than the historical average, but not at a level that is concerning,” Erin Browne, multi-asset portfolio manager at bond giant PIMCO, told the Reuters Global Markets Forum on Wednesday.
Browne’s view was echoed by Ken Monaghan, co-head of high yield at the U.S. arm of Europe’s largest asset manager Amundi, who told the forum he does not expect a recession in 2022 and reckons it is unlikely in 2023 despite some elevated risks.
The last time this part of the yield curve, which compares yields on two-year Treasury with 10-year notes, inverted was in 2019 and the following year, the United States entered a recession – albeit one caused by the global pandemic.
For a related graphic on U.S. yield curve inverts, click https://tmsnrt.rs/3uChSFu
“I am not dismissing that a recession is possible. However, if we look at the fundamentals of the high-yield (bond) market and at the savings that the consumer – especially in the U.S. – has socked away … we don’t see a recession in the near-term,” said Monaghan.
Aided by the pandemic, U.S. household wealth rose to a record $150.3 trillion in the final quarter of last year, a financial cushion that may keep consumers spending and limit the economic damage from Russia’s invasion of Ukraine.
Browne said PIMCO, which manages about $2.2 trillion in assets, is currently “keeping powder dry” as markets digest multiple risk factors. The money manager prefers equities – particularly U.S. large-cap stocks – over high-yield (HY) corporate credit, she said.
For a related graphic on U.S. Corporate Credit yields, spreads, click https://tmsnrt.rs/3tT0ld9
While Browne expects further yield curve inversions, she thinks its reliability as a recession indicator has decreased, particularly as the U.S. Federal Reserve’s massive bond-buying purchases are keeping long-dated yields suppressed.
“Arguably we would not be experiencing the same flatness of the curve without quantitative easing,” said Browne, adding that the “real” or inflation-adjusted yield curve was a better indicator of growth risks.
(These interviews were conducted in the Reuters Global Markets Forum, a chat room hosted on the Refinitiv Messenger platform. Sign up here to join GMF: https://refini.tv/33uoFoQ); Reporting by Lisa Pauline Mattackal in Bengaluru; Editing by Sweta Singh and Saumyadeb Chakrabarty)
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2022-03-31T15:32:53Z
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“With regard to the threat, demand or consideration – one doesn’t know how to call it any more – to be made to pay in rouble, it is crucial for us that the contracts are respected.”
“By all means, it remains the case that companies want, can and will pay in euro.”
“We are convinced that contracts are contracts. The contracts are based on euro and so we will continue to pay for energy imports in euro.”
“We will look in detail into what is being proposed and demanded. But it is clear for us there can be no political blackmail.”
“Contracts are contracts.”
Danish energy firm, Orsted, which has a long-term take-or-pay contract with Gazprom, said it was still waiting to hear from the Russian firm and declined to comment further.
BRITISH PRIME MINISTER BORIS JOHNSON’S SPOKESPERSON
Asked if there were any circumstances in which Britain would pay in roubles for Russian gas:
“That is not something we will be looking to do.”
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2022-03-31T17:03:56Z
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Royal Bank of Canada offers $2.1 billion for UK’s Brewin Dolphin
FILE PHOTO: A sign for the Royal Bank of Canada in Toronto, Ontario, Canada December 13, 2021. REUTERS/Carlos Osorio
By Huw Jones and Nichola Saminather
LONDON (Reuters) -Royal Bank of Canada became the latest Canadian lender to expand overseas with a 1.6 billion pound ($2.1 billion) all-cash offer for U.K.-based wealth manager Brewin Dolphin on Thursday.
The bid, representing a 62% premium to Wednesday’s closing price, sent the target’s shares surging 61%.
The UK is a key growth market, and the combination would make RBC Wealth Management the No.3 wealth manager in Britain and Ireland, Canada’s biggest bank said.
RBC is offering Brewin shareholders 515 pence per share, compared with Wednesday’s closing price of 318 pence, valuing the firm at 2.8% of its 55 billion pounds in assets under management (AUM) as of Feb. 28.
Brewin’s shares hit a record high of 511 pence at 1445 GMT, doubling from their lowest in more than a year reached earlier this month. Royal Bank shares slipped 0.1%, compared with a 0.4% gain in the Toronto stock benchmark.
The premium “demonstrates the attractiveness of the UK wealth market, with long-term, stable income streams and the potential for growth and higher operating margins”, Jefferies analysts wrote in a note.
RBC Chief Executive Dave McKay had said on its latest earnings call in February the bank was in “active dialogues” related to its search for commercial and wealth businesses in the United States and Europe.
Canada’s Big Six banks, which hold about 90% market share at home, have been expanding outside their home markets. RBC’s bid follows deals by TD to acquire First-Horizon Corp and Bank of Montreal’s purchase of Bank of the West, both in the United States.
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2022-03-31T17:04:05Z
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FILE PHOTO: Former U.S. Marine Trevor Reed, who was detained in 2019 and accused of assaulting police officers, stands inside a defendants' cage during a court hearing in Moscow, Russia July 30, 2020. REUTERS/Maxim Shemetov/File Photo
LONDON (Reuters) -Russia said on Thursday that imprisoned ex-U.S. Marine Trevor Reed had declared a hunger strike to protest at disciplinary action taken against him, but denied he had contracted tuberculosis and said that his health was “satisfactory”.
“T. Reed declared a hunger strike on Monday … because he disagreed with a punishment imposed on him by the facility’s disciplinary commission in view of the circumstances of an offence and the previous behaviour of the convict,” he said.
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2022-03-31T17:04:12Z
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WASHINGTON (Reuters) – A U.S. House of Representatives committee said Wednesday it will hold an April 5 hearing on the U.S. Postal Service (USPS) electric vehicle purchase plans as lawmakers push for more zero-emission models.
Last week, USPS said it had placed an initial $2.98 billion order for 50,000 next-generation delivery vehicles from Oshkosh Corp and of those will double its initial planned electric vehicle (EV) purchases to at least 10,019. House Oversight Committee chair Carolyn Maloney said USPS “should be leading the way, not falling behind private companies that are already moving ahead to save money and curb climate change by electrifying their fleets.”
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2022-03-31T17:04:27Z
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U.S. to release 1 million bbl of oil per day from strategic reserve over next 6 months – statement
WASHINGTON (Reuters) – U.S. President Joe Biden’s administration on Thursday announced a plan to release 1 million barrels of oil a day from the strategic petroleum reserve over the next six months, the White House said in a statement.
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2022-03-31T17:04:35Z
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Joe Biden announced he will tap U.S. oil reserves again for the 3rd time in less than a year. The administration will release 1 million barrels of oil a day from the National Petroleum Reserve in an effort to lower gas prices. The U.S. Energy Information Administration said the U.S. uses about 20 million barrels of oil a day, so releasing 1 million barrels a day is about 5 percent of what we consume.
Economic expert and CEO of Opimas, Octavio Marenzi joined OAN’s Alicia Summers to discuss what impact, if any, this will have on gas prices and the economy.
MORE NEWS: AI Revolution Provoking Radical Change To The Job
TOPICS:Alicia SummersgasGas PricesnewsOANOANNOctavio MarenziOILpoliticsRussiaUkraine
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2022-04-01T18:57:24Z
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LONDON (Reuters) -The British government has decided to sell Channel 4, the publicly-owned but commercially funded broadcaster founded nearly 40 years ago as an edgy alternative to the BBC and ITV, the company said on Monday.
Ministers said last year that privatisation would help secure Channel 4’s future as a public service broadcaster.
It had demonstrated it could “continue to commission much-loved programmes from the independent sector across the UK that represent and celebrate every aspect of British life as well as increase its contribution to society, while maintaining ownership by the public”, it said.
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2022-04-04T23:07:04Z
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(Reuters) -Hollywood shared a little bit of its big night with the people of Ukraine on Sunday, using text on a screen to ask the world for financial contributions for those suffering from the Russian assault.
A few celebrities also made brief comments, but the Oscars telecast distinctly did not turn into a megaphone for messages about Ukraine. Instead, the show’s directors opted for a silent message that did not mention Russia, which invaded Ukraine 31 days ago.
“We’d like to have a moment of silence to show our support for the people of Ukraine currently facing invasion, conflict and prejudice within their own borders,” read the message posted on screen just before a commercial break.
The message said millions of families needed food, medical care, clean water and emergency services and asked viewers for humanitarian aid.
“We ask you to support Ukraine in any way you are able,” read the silent message, adding the hashtag #StandWithUkraine.
Russian President Vladimir Putin calls the war a “special military operation” that Moscow says is aimed at demilitarizing and “denazifying” its neighbor. Ukraine and its Western allies call this a pretext for an unprovoked invasion.
Before the show, there were suggestions that Ukrainian President Volodymyr Zelenskiy might make an appearance through video link, as he has done in parliaments around the world while urging the West to give Ukraine tanks, planes and missiles to help fend off Russian forces and to impose a no-fly zone.
But he did not appear.
There were a few references to Ukraine but none to Russia.
“Viva Ukraine!” said director Francis Ford Coppola during a segment honoring the 50th anniversary of “The Godfather.”
Co-host Amy Schumer also threw in a reference, saying, “And there’s a genocide going on in Ukraine and women are losing all of their rights.”
Just before the Oscar plea for aid, Ukrainian-born actress Mila Kunis made a veiled reference to the trouble in her native land.
“Recent global events have left many of us feeling gutted. Yet when you witness the strength and dignity of those facing such devastation, it’s impossible to not be moved by their resilience,” Kunis said, setting up a nominee for best song.
Kunis, 38, was born in the Ukrainian city of Chernivtsi and immigrated to the United States at age 7. She has been active in raising money for Ukraine.
On March 20, Zelenskiy praised Kunis and her husband, actor Ashton Kutcher, on Twitter, saying they were “among the first to respond to our grief” and had raised $35 million for Ukrainian causes.
In another understated moment, actor Jason Momoa wore a handkerchief in blue and yellow, the colors of the Ukrainian flag.
One indirect reference to Russia came when filmmaker Ben Proudfoot received the Oscar for best short subject documentary, calling for the release of Women’s National Basketball Association player Brittney Griner, who has been detained in a Russian prison.
“President Biden, bring Brittney Griner home,” Proudfoot said.
It was not clear exactly when Griner was detained, but it was announced after Russia’s invasion of Ukraine on Feb. 24, which dramatically worsened relations between Washington and Moscow.
(Reporting by Daniel Trotta; Editing by Howard Goller)
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2022-04-04T23:07:20Z
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New York Mayor Eric Adams, at podium, addresses a news conference in the rotunda of City Hall, in New York, Monday, April 4, 2022. New York City is launching a digital billboard campaign, supporting LGBTQ visibility that will be displayed in five major markets in Florida for eight weeks, to lure Floridians unhappy with their state’s “Don’t Say Gay” law to the Big Apple, Adams announced. (Ed Reed/Office of the New York City Mayor via AP)
New York City launched a billboard campaign in effort to take aim at the state of Florida. On Tuesday, Republican Governor Ron DeSantis targeted New York City Mayor Eric Adams attempt to persuade Floridians to move to the Big Apple amid its recently passed Parental Rights in Education bill.
During a press conference, Adams announced digital billboards will be displayed in major parts of Florida for eight-weeks, inviting people who are upset with Florida’s new law to move to New York City. The billboards feature rainbow colored slogans such as “New York City is alive and so is free speech.”
This comes despite a recent incident where a mother was fired after she confronted Adams for keeping the city’s school mask mandate for toddlers in place.
“We are loudly going to show our support and say to those in Florida, we want you here in New York,” stated Mayor Adams. “We want your right here in New York City and it’s more than just saying that. It’s also standing up and aligning ourselves with the men and woman of the LGBTQ plus community and stating that we are in unison with you and your right to have self-identification.”
Meanwhile, DeSantis critiqued Adams move while describing it as “political grandstanding.” He also hit back at the mayor’s handling of COVID mandates for children.
In a statement, Florida’s press secretary said Adams billboards are doing the Sunshine State a favor. The official added, “if someone wants to leave Florida for a crime ridden socialist dystopia, the state will be better off without them.”
According to data released by the U.S. Census Bureau, more than 300,000 residents fled from Democrat controlled New York in the past year, in turn, making it the nation’s leading state for population decline. However, DeSantis is confident nothing will change and he called out New York for “muzzling residents through the force of government.”
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TOPICS:COVID mandateseducationEric AdamsFloridagayLGBTQmask mandateNew York CitynewsOANOANNParental Rights in EducationpoliticsRon Desantissay gayschoolschool mask mandate
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2022-04-06T17:46:31Z
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Fla. Gov. DeSantis calls out NYC’s billboard campaign, mask policies | One America News Network One America News Network - Breaking News Updates | Latest News Headlines | Photos and News Videos
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COLOMBO (Reuters) – Sri Lanka must urgently seek funds from multilateral lenders and aim to restructure a debt payment due in July, its outgoing finance minister said on Thursday, pleading for political stability amid the country’s worst economic crisis in decades.
“We must look at how to structure the $1 billion international sovereign bond payment maturing in July,” said Ali Sabry, who submitted his resignation to Rajapaksa on Tuesday. “We must go to the IMF, there is no other solution that I can see.”
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2022-04-07T18:09:35Z
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BRUSSELS (Reuters) -The United States will send new weapon systems to Ukraine, Washington’s top diplomat said on Thursday after NATO foreign ministers agreed to accelerate arms deliveries in response to Russia’s invasion.
“We’re not going to let anything stand in the way of getting Ukrainians what they need, and what we believe, to be effective,” Blinken said.
He addressed his counterparts from NATO’s 30 members plus the European Union, Finland, Sweden, Japan, New Zealand and Australia, urging Germany in particular to speed up deliveries, saying procedures were taking too long in Berlin.
After six weeks of a war that Moscow describes as a “special military operation”, Ukraine says Russia continues to shell eastern cities following its forces’ withdrawal from around Kyiv.
‘PUTIN’S CALCULUS’
“I don’t think in a sense, Bucha has anything to do with that. It has everything to do with what President (Vladimir) Putin’s calculus is, what he decides,” Blinken said.
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2022-04-07T18:09:43Z
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U.S. and NATO allies pledge more arms to Ukraine | One America News Network One America News Network - Breaking News Updates | Latest News Headlines | Photos and News Videos
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LVIV, Ukraine (Reuters) – Ukraine stepped up calls on Thursday for financial sanctions crippling enough to force Moscow to end the war as its officials rushed to evacuate civilians from cities and towns in the east before an anticipated major Russian offensive there.
“Once and for all, we can teach Russia and any other potential aggressors that those who choose war always lose,” Zelenskiy said in an address to the Greek parliament.
In a symbolic move, the United Nations General Assembly voted to suspend Russia from the U.N. Human Rights Council, passing a resolution expressing “grave concern at the ongoing human rights and humanitarian crisis in Ukraine,” particularly at reports of rights abuses by Russia.
Washington, which banned Russian oil imports last month, took further steps on Wednesday to isolate Moscow, sanctioning two major lenders and President Vladimir Putin’s two adult daughters, and banning U.S. investment in Russia. Washington also called for Russia’s expulsion from the Group of 20 major economies.
The European Union’s top diplomat, Josep Borrell, told a NATO meeting that new EU measures, including a ban on Russian coal, initially expected on Wednesday, could be passed on Thursday or Friday and the bloc would discuss an oil embargo next.
The pressure to tighten sanctions follows international condemnation of apparent executions of civilians in the streets of Bucha, a town northwest of Ukraine’s capital Kyiv that was recaptured from Russian forces.
Ukrainian officials say that after withdrawing from Kyiv’s outskirts, Russian forces are regrouping to try to gain full control over the eastern regions of Donetsk and Luhansk, which have been partly held by Russian-backed separatists since 2014. The besieged southern port of Mariupol, where the mayor said over 100,000 people were still trapped, was also a target.
The Ukrainian military said that in terms of active fighting, capturing Mariupol is still the main focus of Russian troops, while Russian battalions are blockading and bombarding the northeastern city of Kharkiv.
Russia says it launched what it calls a “special military operation” on Feb. 24 to demilitarise and “denazify” Ukraine. Kyiv and its Western allies reject that as a false pretext for its invasion.
The six-week-long war has forced over 4 million Ukrainians to flee abroad, killed or injured thousands, left a quarter of the population homeless, turned cities into rubble and set off Western restrictions targeting Russia’s economy and elites.
NATO Secretary-General Jens Stoltenberg said after the foreign ministers’ meeting that members had agreed to strengthen support to Ukraine. U.S. Secretary of State Antony Blinken said Washington was looking into what new weapons it could send Ukraine.
Kyiv says starving Moscow’s war machine is the only way to bring it to a peace settlement in talks that have taken place on and off since the early days of the conflict, with both sides blaming each other for the lack of progress.
On Thursday, Russian Foreign Minister Sergei Lavrov said Kyiv had presented Moscow with a draft peace deal that contained “unacceptable” elements and deviated from previously agreed proposals.
Ukrainian negotiator Mykhailo Podolyak dismissed those comments, telling Reuters in a written statement that Lavrov was not directly involved in negotiations. His statements were “of purely propagandistic significance” aimed at diverting attention from events in Bucha, Podolyak said.
Media outlets including Reuters have seen satellite images released by a private security company that appear to show bodies in the streets while Bucha was still occupied by Russia, contradicting Moscow’s assertion that Ukraine staged the bodies after retaking the town.
In the capital itself, some residents who had fled have begun returning since the Russians withdrew from the city’s outskirts, even though officials have warned people not to come back yet in case there is a renewed offensive.
“I want to see my parents, they’re elderly,” said Olena Oleshyntseva, who arrived at Kyiv’s train station after staying in neighbouring Moldova for safety. She started to cry as she whispered: “I am their daughter.”
While Russia’s prime minister said its economy faced the most difficult situation in three decades because of Western sanctions, extending them into the energy sector poses a challenge for Europe too.
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2022-04-07T18:09:50Z
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Ukraine braces for new assault, UN General Assembly suspends Russia from rights body | One America News Network One America News Network - Breaking News Updates | Latest News Headlines | Photos and News Videos
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India’s Tata launches “super app” in e-commerce challenge to Amazon, Walmart
MUMBAI (Reuters) – India’s Tata Group on Thursday launched its much-awaited e-commerce “super app” offering everything from apparel to air tickets in a renewed push for a slice of a fast growing market dominated by Amazon.com and Walmart’s Flipkart.
Tata Neu, which has been in the works for about two years, is a single platform for the group’s brands, including Westside fashion, Air Asia tickets, Croma electronics, the Taj group of hotels, BigBasket online grocery and 1mg online pharmacy.
“Our aim is to make the lives of Indian consumers simpler and easier,” Tata’s Chairman N Chandrasekaran said on LinkedIn, adding that its joint venture airline Vistara and recently acquired Air India, as well as watch brand Titan will be available on the app soon.
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2022-04-07T19:40:13Z
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India’s Tata launches “super app” in e-commerce challenge to Amazon, Walmart | One America News Network One America News Network - Breaking News Updates | Latest News Headlines | Photos and News Videos
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(Reuters) – Kremlin spokesman Dmitry Peskov said on Thursday that Russia had sustained “significant losses” in Ukraine, which its troops entered on Feb. 24 in what it calls a “special military operation”.
Russia’s defence ministry said on March 25, its most recent update, that 1,351 Russian soldiers had been killed since the start of the campaign, and 3,825 had been wounded.
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2022-04-07T19:40:21Z
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Kremlin says Russia has suffered ‘significant losses’ in Ukraine | One America News Network One America News Network - Breaking News Updates | Latest News Headlines | Photos and News Videos
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(Reuters) – Two U.S. liquefied natural gas (LNG) developers have asked the Federal Energy Regulatory Commission (FERC) for more time to build proposed Texas LNG projects.
Sempra Energy said it has requested an extension until March 31, 2023, to build two pipelines in Texas and Louisiana that will connect to its Port Arthur LNG plant, while NextDecade Corp sought an extension to November, 2028, for its Rio Grande LNG project in Brownsville, Texas.
Wednesday’s extension requests came the same day NextDecade announced it reached a 20-year deal to supply 1.5 million metric tonnes per annum (MTPA) of LNG from the proposed Rio Grande facility to a unit of China’s ENN Natural Gas Co.
At the start of 2020 and again in 2021, roughly a dozen firms signaled plans for FID on proposed projects. But only Sempra’s Costa Azul in Mexico started construction in 2020. Numerous others have been pushed into 2022.
(Reporting by Marcy de Luna; Editing by Kirsten Donovan)
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2022-04-07T19:40:29Z
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NextDecade, Sempra seek extensions to build Texas LNG projects | One America News Network One America News Network - Breaking News Updates | Latest News Headlines | Photos and News Videos
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NFL-Two more coaches join Flores’ discrimination lawsuit against league, teams
NEW YORK (Reuters) – Two more coaches have joined former Miami Dolphins head coach Brian Flores’s class action lawsuit alleging discrimination against Black candidates for top-level coaching and management jobs in the National Football League (NFL), according to an amended complaint filed on Thursday.
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2022-04-07T19:40:36Z
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Authorities release new video evidence related to a series of murders in Long Island, New York. Their investigation began in 2010 when police received a call from a woman saying someone was trying to kill her.
Over the course of their investigation, authorities discovered 10 sets of human remains. The new footage was revealed during a press conference and shows one of the victims, Megan Waterman, exiting a Holiday Inn.
“The video shows several different angles from security cameras located in the lobby of a Holiday Inn Express located in Hauppauge and in the videos, which were recorded on June 4 to June 6 in 2010, our victim, Megan Waterman, was wearing a yellow sweater and is shown both arriving and leaving the hotel,” stated Rodney Harrison, Suffolk County Police Commissioner. “Based on what we know right now, we believe she did leave the hotel that night to meet her killer.”
Additionally, they set up a website for people to turn in any information they have regarding the case. Police also doubled the reward for anyone who comes forward to assist their investigation.
“We are doubling the reward for information that may lead to the arrest and conviction in the Gilgo Beach homicide investigation from $25,000 to $50,000,” Harrison announced. “This represents the highest Crime Stoppers reward in Suffolk County history.”
The press conference ended with an attorney for one of the victims urging the public to assist them with solving the case by generating buzz around their community.
“This is the first step, but it’s a very small baby step towards what should be done, which is to bring the public into this case,” attorney John Ray. “It’s the only way this will be solved. The only way. The killers are still there, they know it if they see things on the TV it will cause them to react as well.”
The investigation is still ongoing with police expecting to release more evidence related to the case.
TOPICS:crimeLong IslandMegan WatermanNew YorkRodney HarrisonSuffolk County Police
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2022-04-13T17:21:16Z
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Long Island Police release video evidence in Gilgo Beach murders | One America News Network One America News Network - Breaking News Updates | Latest News Headlines | Photos and News Videos
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FILE – Sen. Ron Johnson, R-Wis., speaks at the U.S. Capitol in Washington, on March 3, 2021. Johnson, one of former President Donald Trump’s most vocal supporters, has decided to seek reelection to a third term, two Republicans with knowledge of the plan told The Associated Press on Friday, Jan. 7, 2022. (Greg Nash/The Hill via AP, Pool, File)
Sen. Ron Johnson (R-Wis.) recently met with his constituents to talk about the problems in children’s education. During a recent roundtable with parents on Friday, the Wisconsin lawmaker said he wanted to hear about the ideas or theories being taught that are of concern.
A major topic discussed was the response to COVID-19 and what was being taught online with parents raising worries that their children will fall behind. Critical race theory and other ideological ideas being taught in schools has been a major issue for parents across the country and Johnson said the only way to combat that is for parents to find their voice.
Wisconsin parents want a say in their children’s education.
I recently hosted a roundtable to hear more about their concerns. pic.twitter.com/vTLh1ZAXXz
Attendees said it was good to see the show of support not only from Johnson, but from like-minded parents. They said it’s time to take action like their kids’ lives depend on it.
MORE NEWS: US Lawmakers Pledge Support For Taiwan During Meeting
TOPICS:Ron Johnson
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2022-04-15T21:09:39Z
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Sen. Johnson holds roundtable with parents on education | One America News Network One America News Network - Breaking News Updates | Latest News Headlines | Photos and News Videos
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Former Alaska Gov. Sarah Palin addresses supporters at the opening of her new campaign headquarters in Anchorage, Alaska, on Wednesday, April 20, 2022. Palin, the first Republican female vice presidential nominee, is among 48 candidates running for the Alaska’s lone seat in the U.S. House following the death last month of Republican Rep. Don Young, who held the job for 49 years. (AP Photo/Mark Thiessen)
Sarah Palin has hit the ground running in her bid for Alaska’s congressional seat. The state’s former governor opened her campaign headquarters in Anchorage on Wednesday after announcing her return to politics earlier this month.
Through my new website, https://t.co/CrlfiGqnAV, I invite my fellow Alaskans to reach out to me and my team with their questions, ideas, and concerns. I’m excited to be back on the campaign trail. -SP
The campaign office will be used to sign up volunteers, make donations and to pick up campaign signs. Palin is one of nearly 50 candidates running for the state’s lone house seat following the death of Rep. Don Young.
“I have had the privilege over these, well the last couple of decades really, travelling around the country, travelling around the world in the last 13 years promoting Alaska,” Palin stated. “Doing all that I can to get our natural resources developed responsibly and helping educate the rest of the country, the rest of the world, about what Alaska has to offer because we’re the Fort Knox of our great union.”
Alaska’s special primary will take place in June with the top four candidates advancing to a special election in August. The winner will serve the remainder of Young’s term.
TOPICS:AlaskaANCHORAGECongressDon YoungelectionOANOANNprimarySarah Palinspecial primaryVOTING
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2022-04-21T18:52:10Z
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Sarah Palin opens campaign headquarters | One America News Network One America News Network - Breaking News Updates | Latest News Headlines | Photos and News Videos
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A 22-year-old US Marine was reportedly killed fighting in Ukraine against Russian President Vladimir Putin’s forces. Family members of Willy Joseph Cancel said they were told he died on Monday.
At the time of his death, he was working with a private military contracting company. According to his family, the company was apparently hiring people to fight in the war, which led Cancel to fly to Poland in March.
“He wanted to go over because he believed in what Ukraine was fighting for and he wanted to be a part of it to contain it there so it didn’t come here,” explained his mother, Rebecca Cabrera. “And that maybe our American soldiers wouldn’t have to be involved in it.”
At this time, Cancel’s body has not been recovered. He leaves behind a wife and 7-month-old baby.
“He went there wanting help people, he had always felt that was his main mission in life,” said the Marine’s wife, Brittany Cancel. “My husbands was very brave and a hero. I did not expect to be a widow at 23-years-old or for our son to be without a father. All I want is for him to come home and to give the proper burial he deserves.”
A State Department official said they are aware of these reports and are closely monitoring the situation. The official also reiterated that US citizens “should not travel to Ukraine due to the active armed conflict and the singling out of US citizens in Ukraine by Russian government security officials.”
MORE NEWS: Sen. Kennedy Questions Impartiality Of Biden’s Judicial Nominee Nusrat Choudhury
TOPICS:Brittany CancelMarinenewsOANOANNPolandpoliticsRebecca CabreraRussiaRussian GovernmentSoldierUkraineUS MarineWarWilly Joseph Cancel
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2022-04-29T16:25:50Z
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US Marine killed during Russia’s invasion of Ukraine | One America News Network One America News Network - Breaking News Updates | Latest News Headlines | Photos and News Videos
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United States Postal Service trucks sit outside the Roberto Clemente Post Office August 25, 2009 in Chicago, Illinois. The Postal Service announced it would offer $15,000 for buyouts of up to 30,000 employees eligible for retirement, early retirement, or those in select positions. (Photo by Scott Olson/Getty Images)
The United States Postal Service is facing legal trouble as 16 states are suing them. Three lawsuits were filed in New York and California Thursday in an effort to stop the Postal Service from purchasing thousands of gas powered trucks.
The complaints allege that the mail service made an error in its decision to replace its current fleet with roughly 165,000 trucks with only 10 percent consisting of battery electric vehicles. Instead, the attorneys general want the mail service to only purchase electric vehicles to be more environmentally friendly.
University of Richmond School of Law Professor Carl Tobias weighed in on the lawsuits.
“Sixteen attorneys general from states across the country and environmental organizations sued the Postal Service because they said that the decision to use so few electric vehicles in the new fleet of trucks didn’t take sufficient account of the environmental consequences of the decision that was made,” he stated.
The lawsuits also claims that as a result of such a decision, there was a violation of the National Environmental Policy Act, which requires an environmental impact statement before undertaking a massive enterprise like the commitment to buy these vehicles. Additionally, the complaints call for a thorough review of the environmental impacts such a move would have.
“They’re hoping to persuade the judges who hear the cases that the USPS just had it wrong and needs to go back and have a proper decision making process, which I think the plaintiffs believe should result in a much lower percentage of gas powered vehicles and a much higher percentage of electric vehicles,” explained Tobias. “If they were to dictate the choices, but I think they believe if a proper environmental review has done that that would appropriate outcome.”
However, the Postal Service is defending its actions with a spokesperson for USPS saying they “conducted a robust and thorough review and fully complied with all of their obligations under the national environmental policy act.”
Despite the push for electric powered delivery vehicles, Postmaster General Louis DeJoy has said repeatedly that the Postal Service does not have the funding to increase the number of electric vehicles in its fleet.
MORE NEWS: Biden Requests $33B From Congress In Ukraine Aid
TOPICS:Accused New YorkCaliforniaCarl Tobiaselectricelectric vehiclesenvironemntEPALouis DejoyNational Environmental Policy ActNew YorknewsOANOANNpoliticsPostal ServiceUnited States Postal ServiceUniversity of RichmondUSPS
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2022-04-29T19:28:05Z
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16 states sue USPS over potential gas truck purchase | One America News Network One America News Network - Breaking News Updates | Latest News Headlines | Photos and News Videos
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State Department spokesman Ned Price speaks during a news conference at the State Department, Thursday, March 10, 2022, in Washington. (AP Photo/Manuel Balce Ceneta, Pool)
US diplomats made their long awaited return to Ukraine amidst the ongoing crisis. Personnel at the embassy were moved out of the city and into Poland two weeks before Russia invaded the country.
While speaking at a press conference in the city of Lviv , acting Ambassador Kristina Kvien said she hoped to reopen the US Embassy in Kyiv.
“Today is my first day back in Ukraine and it is a day trip. We expect to continue to do day trips for the next week or two and then we very much hope that the conditions will permit us to go back into Kyiv by the end of the month.”
“Of course, we want to ladder up to having a regular presence in Kyiv,” he explained. “Every single day we’re monitoring the security situation on the ground to determine when we’ll be able to do that. The only answer I can give you right now to the question of when, is as soon as possible. I think it is fair to say, as you heard from our chargé today, that it will be within the coming weeks, but it will depend on a regular assessment of the security situation and our ability to operate safely and responsibly from Kyiv.”
Diplomats sent a stark message to Russia about how they failed to conquer Ukraine. They are expected to continue their diplomatic duties in through daily visits until they get cleared to move their operations to Kyiv.
“I would say the message to Russia is: you failed,” Price continued. “Ukraine is still standing the government is still functioning, and we’re going back to Lviv first and then Kyiv to help the government.”
Other Western nations like Denmark have followed suit and reopened their embassies in the country.
MORE NEWS: Biden Admin. Working To Bring Back American Journalist Austin Tice
TOPICS:AMBASSADOR KRISTINA KVIENKyivNed PricenewsOANNUkraineUS DIPLOMATS
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2022-05-03T21:01:00Z
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A worker removes part of the damaged facade at the site of a deadly explosion that destroyed the five-star Hotel Saratoga in Old Havana, Cuba, Sunday, May 8, 2022. (AP Photo/Ismael Francisco)
Crews have continued to search through the rubble of a hotel in Havana, Cuba after an explosion rocked the downtown area.
An explosion has ripped through the five-star Hotel Saratoga in Havana, Cuba. At least eight people were injured in the blast. pic.twitter.com/c66oZhsdgx
As of Sunday, authorities confirmed 31 people have died, including four children, a pregnant woman and a tourist from Spain. More than 50 people are estimated to be injured and more than a dozen children remained hospitalized as a result of the blast.
“Fifteen minors are still hospitalized at Havana’s Juan Manuel Marquez pediatric hospital,” said Dr. Julio Guerra Izquierdo, head of Cuba’s Ministry of Health Hospital Division. “There are eight males and seven females. Three of them are in critical condition, two are critically ill and ten pediatric patients are reported to be in care.”
The cause of the blast is still unknown, but a crane removing a destroyed gas tank from the rubble could provide clues. Meanwhile, families of the victims are demanding answers from authorities.
MORE NEWS: Senate Approves Sen. Cruz’s Motion Supporting Further Iran Sanctions
TOPICS:CubaexplosionHAVANAJulio Guerra IzquierdoMinistry of HealthnewsOANOANN
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2022-05-09T17:14:51Z
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31 confirmed dead following blast in Havana | One America News Network One America News Network - Breaking News Updates | Latest News Headlines | Photos and News Videos
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Sri Lankan government supporters make an attempt to attack anti-government protesters outside president’s office residence in Colombo, Sri Lanka, Monday, May 9, 2022. Sri Lankan Prime Minister Mahinda Rajapaksa resigned Monday following weeks of protests demanding that he and his brother, the president, step down over the country’s worst economic crisis in decades. (AP Photo/Eranga Jayawardena)
Sri Lankan Prime Minister Mahinda Rajapaksa has stepped down amid the nation’s worst economic crisis in decades. An aide to the Prime Minister submitted a letter to the President’s Office on Monday confirming his resignation.
This comes as rampant inflation and shortages of essentials, including food and medicine, have sparked ongoing protests that started in March. Additionally, the former Prime Minister resigned hours after police announced a nationwide curfew after at least 100 people were sent to the hospital following demonstrations.
“He is trying to get more and more power,” said Democratic National Alliance Leader Sarath Fonseka. “Trying to take the country into a dictatorship and take it in an direction where he thinks he can strengthen his family, he can strengthen his own hands and run the country like a dictator.”
In the meantime, trade unions in the country are calling for more protests throughout the week.
MORE NEWS: NPR’s Totenberg Says Leading Theory Is Draft Leaked By Conservative Clerk
TOPICS:curfewDemocraticdictatorshipMahinda Rajapaksanational alliance leadernewsOANNpolicePrime MinisterprotestSri Lanka
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2022-05-10T16:07:15Z
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Sri Lanka Prime Minister resigns amid protests over economic crisis | One America News Network One America News Network - Breaking News Updates | Latest News Headlines | Photos and News Videos
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The Empire State intends to put taxpayer funds towards abortions as New York races to expand access and funding in the event Roe v. Wade is overturned.
At a press conference Tuesday, New York Attorney General Letitia James (D-N.Y.) touted the Reproductive Freedom and Equity Program. James stressed the Democrat-sponsored bill will help to allocate funds to abortion providers and make the state a safe haven for abortion seekers.
“These funds will help New Yorkers who need financial support to seek abortions,” said James. “It will also provide and support the influx of individuals who have and will continue to come to New York from other states to seek abortions…if Roe is overturned, 26 states will ban or are likely to ban abortion.”
Assemblywoman Jessica González-Rojas (D-N.Y.) has hailed the bill’s equitable approach towards abortions as it will help women receive an abortion regardless of their immigration or insurance status. However, James added, that individuals will not be receiving payments as funding will go directly to institutions that perform abortions.
“This will not go to individuals, but actually to abortion providers and nonprofit organizations aimed at facilitating access to abortion care,” said James. “The funding would specifically go to increase access to health care and will also fund uncompensated care and to address the support needs of individuals accessing abortion care.”
The program is estimated to cost New York taxpayers tens of millions of dollars per year and will cover the lodging, lost wages and childcare costs of women seeking abortions from out of state.
Some critics, such as Republican Assemblyman John Salka (R-N.Y.) has called the bill outrageous while claiming the state is ignoring the numerous other health issues that plague New York.
However, James holds abortion in such high regards that she has voiced her support to embed access to the procedure into the state Constitution.
“That’s why I came out over the weekend in support of a constitutional amendment,” added James. “The governor supports the effort…I join her in supporting a constitutional amendment to protect the right to privacy, which is implicit in our Constitution.”
Governor Kathy Hochul (D-N.Y.) has largely attached herself to the pro-abortion movement in her re-election bid, even calling upon Congress to codify Roe v. Wade into the US Constitution.
New York has the second highest abortion rate in the country behind the District of Columbia.
TOPICS:Assemblywoman Jessica Gonzalez RojasAttorney General Letitia JamesNew YorknewsOANNpoliticsReproductive FreedomReproductive HealthRoe v. Wadewomen's rights
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2022-05-10T19:09:58Z
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N.Y. taxpayers to fund out of state abortions | One America News Network One America News Network - Breaking News Updates | Latest News Headlines | Photos and News Videos
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Baby Formula Shortage: What the FDA isn’t telling you
House Republicans are demanding a plan of action from the Biden administration to fix the baby formula shortages. Rep. Kat Cammack (R-Fla.) posted a video on Facebook in which she explained the administration is sending pallets of baby formula to detention facilities at the border while parents nationwide are unable to find any formula.
Congressional candidate in New York’s Third District, George Santos joined OAN’s Alicia Summers to discuss what the FDA is not telling you.
Alicia Summers: House Republicans are demanding a plan of action from the Biden administration to fix the baby formula shortages. Representative Kat Cammack posted a video on Facebook saying that the administration is actually sending pallets of baby formula to detention facilities at the border while parents nationwide are unable to find baby formula.
Joining me now to discuss the crisis and what the FDA is not telling you is George Santos, congressional candidate in New York’s third district. Hi, George. Thanks for being here.
George Santos: Hi. Thank you for having me.
Alicia Summers: We’ve seen parents panicking, worried that their babies may go hungry. This type of thing only happens in third world countries, right? So, what happened – or what is happening to the most prosperous nation in the world?
George Santos: You know, this is just more of the nonsense of the Biden administration, right? Here on Long Island in New York, we have Facebook groups called the Nassau County Formula Exchange. Moms and dads frantically exchanging samples and formula they found for the formula they need. This is reminiscent of Venezuela during the Chavez collapse. And I never thought that I’d be living to see something like this.
You know, I come from an immigrant background. My grandparents would tell the stories of stuff like this back in World War Two. I’m living this again. I mean, we’re the greatest economy in the world. And we’re struggling to produce food for our most vulnerable, which are our kids. It’s our future here. And the Biden administration refuses to address the issue. It’s almost reminiscent of… he does not care.
It plays into this whole Supreme Court ruling, that opinion that we just saw, in Roe v Wade. It’s almost like “Hey, since we can’t beat them there, maybe we’ll go up and just starve them.”
Alicia Summers: So, families are already paying over $5,000 more a year just to buy essentials due to the record high inflation, the supply chain crisis. Now, parents are being told they may have to wait weeks for baby formula while we’re seeing pictures of detention facilities stocked with formula. Representative Cammack said “This is what America last looks like.” Where’s Operation Warp Speed for our babies?
George Santos: Well, look, I’ll put it this way. This administration has made it very clear. Mayorkas is a colossal disaster. Kamala Harris is a colossal disaster. Joe Biden is a colossal disaster, but the administration at large is a colossal disaster because it was it all… they came together through affirmative action. You’re the first is, you’re the first that. I don’t care.
We don’t have qualified people running the United States of America. And we’re putting the interests of immigrants first and putting the interests of Americans last. When I’m looking at these pallets of formula, sitting in detention facilities for people who envaded United States sovereignty and actually came in this country illegally, I have no sympathy or empathy. They’ve made that choice.
They should be dealt with the same standard that we deal criminals because they committed a crime. I understand that there’s children amongst them and I’m a good person, and I believe in taking care of everybody and it’s a humanitarian crisis. But we don’t take away from our children who are struggling. Parents are struggling to find formula and give it to the children of those who are breaking our laws from day one in this country.
Biden should be held for contempt and neglect on not providing an operation warp speed type operation for our children. We’re starving young Americans. This is the future of our country. If we can’t get this right, we can’t get anything else right and that’s very disturbing. And this is a call to action from the members of Congress that I know. Kat Cammack is a great friend, a great representative. Hold him accountable, hold him to the fire until he fixed this issue.
This is the Biden supply chain collapse. The economy is in a downward spiral because Joe Biden is a failure. His cabinet is a failure. They were all appointed through affirmative action. And that is what happens when we do that.
Alicia Summers: Yeah. Meanwhile, furthermore, the administration is trying to speed up sending $30 billion to Ukraine. And what makes this even more astounding – where are the protesters in the streets and in front of homes like we saw after Roe v Wade, after the Supreme Court opinion was leaked?
George Santos: You know, it’s funny. They’re all quick to run and create chaos where there is no need for chaos. But where is the uproar when we’re spending an additional $30 billion in a sovereign nation. When, here, we’re talking our sovereignty is at risk. I want to see people upset that we’re taking money away from our kids, from our inner cities, from little boys and girls in cities like Chicago and Detroit and we’re sending it abroad. I understand there’s an issue and there’s a crisis in Ukraine. My grandparents were Ukrainian. I say this from first-hand experience. It hurts to see what happens there, but our priorities really need to be first and foremost with the American people. America first, not alone. But right now, we need to make sure that our needs are covered, our issues are taken care of, before we go and get involved in international conflict that we have little to no control.
And this money will essentially burn very, very quick because if there’s a big, expensive machine, it’s called war. We’re pouring gasoline into the fire, we’re not going to change one iota in the direction of the war, unfortunately. And I say that begrudgingly, but it’s the reality. We need to take care of our kids here. We’ve just added $30 billion more to the deficit.
That’s exactly what we did. Our debt number just grew in $30 billion because that $30 billion was not paid for, and there’s no plan to pay for it, and that is Joe Biden putting America last at every stance of his administration and his political agenda.
Alicia Summers: All right. You’re running for Congress. What would you do right now to help fix this fast?
George Santos: The first thing you have to do is you have to go in, hold Joe Biden, Mayorkas, Janet Yellen and Kamala Harris accountable. Impeachment, unfortunately, is the only solution to at least give us a blank slate to restart. We need a fresh restart so we can curb inflation, curb spending, and cut back on the invasion through our southern borders.
If we don’t stop the humanitarian crisis in the southern border of the United States, we’re not going to fix any of the other issues we have because they’re just adding to the expensive burden of the taxpayer cost in this country.
Alicia Summers: Last question. What is the FDA not telling us?
George Santos: The FDA is not telling us anything. The FDA has never told us anything. The reality is if that one thing 2020 served the purpose or was exposing the disingenuous behavior and the lack thereof of transparency by the FDA. The FDA puts back and recalls a ton of formula of brands and puts no plan in action to fix the shortage and the crisis it’s going to create – gives no remedy and leaves the American people stranded.
I have a niece. She’s not on formula, thankfully, but if you look at the way that this is progressing, it’s just going to get inherently worse because organizations like the FDA are not being held accountable. There’s nobody with checks and balances taking care of what needs to be taken care of. So, I call for a complete and absolute revamp – expungement of the FDA and start it from scratch, because what it has now is a bunch of bureaucrats who serve themselves and the pharmaceutical companies they have allegiances to and not the American people.
Alicia Summers: Good fix. You have a big job ahead of you if elected. Jorge Santos, thanks for your time today. Thank you.
MORE NEWS: Tampered Ballot Images Indicate Significant Voter Fraud In Ga.
TOPICS:Alicia Summersbaby formulaBorder CrisisFDAGeorge SantosHealthimmigrationnewsOANOANNpoliticssupply chain
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2022-05-14T02:48:18Z
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Hawley introduces bill to revoke ‘Mickey Mouse’ copyright protections
Sen. Josh Hawley (R-Mo.) introduced a bill to revoke the so called “Mickey Mouse Protection Act” stating it’s time to revoke special copyright protections of the wealthy woke corporations. One America’s John Hines has more from Capitol Hill.
John Hines: I believe you introduced a bill to strip the Walt Disney Company, and perhaps some others, of copyright protections. A special deal. How does that work, sir?
Sen. Josh Hawley: Well, here’s how it works. There’s no reason that these huge mega-corporations, particularly those that have gone woke, should get special deals from the U.S. government. What happened was Disney, a number of years ago, came to Congress and said “Extend our copyright protections, change the law on our behalf” and Congress did. So, what my bill would do is take the copyright protection back to where it has been for most of the 20th century (56 years), and take away, for corporations that are over $150 billion in size, take away their special copyright protections. Now, that would start with Disney.
John Hines: Is there was there a Mickey Mouse copyright protection plan? Was that what it was called?
Sen. Josh Hawley: Yes. That was almost 20 years ago. Disney said, “Oh my gosh, we’ve got to save Mickey Mouse, give us give Disney special protections. And while you’re at it, give the biggest corporations special protections, too.” And I just don’t see any reason why this big corporations could get special… should get special handouts. So, my bill would end their special protections. It would take the copyright term back to 56 years. That’s a long time, by the way. It wouldn’t affect smaller businesses; it wouldn’t affect authors. For instance, it wouldn’t change any copyright that they have right now. But for these big corporations, it would end the special deal they got some years ago.
John Hines: Would it impact some of the tech platforms that we’ve spoken about in the past?
Sen. Josh Hawley: Yeah, any corporation over $150 billion in size in terms of revenues would be affected by this. Their copyright terms would go back. So, if they got a special 20-year extension several years ago, that would go away and they would have to have a level playing field like everybody else.
MORE NEWS:Baby Formula Shortage: What The FDA Isn’t Telling You
TOPICS:billCapitol HillCopyrightJohn HinesMickey Mouse Protection ActnewsOANNOANN ContributionspoliticsSen. John Hawley
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2022-05-14T02:48:41Z
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Sen. Rand Paul (R-Ky.) has pumped the breaks on congressional leaders $40 billion rush to Ukraine. The Republican single-handedly blocked the quick passage of President Joe Biden’s Ukraine aid package.
While speaking the Senate floor Thursday, the Kentuckian explained that the financial gifts to Ukraine are causing inflation and increasing national debt. He warned, they cannot save Ukraine by dooming the US economy.
“My oath of office is to the US Constitution, not to any foreign nation and no matter how sympathetic the cause,” said Paul. “My oath of office is to to the national security of the United States of America. “
The House passed the $40 billion bill just hours after its official text was released. Paul noted, this is the second spending bill for Ukraine in two months, however, this version is much larger than the first. If this bill is passed, a US-Ukraine aid would reach $60 billion borrowed money.
“America can’t afford to be the worlds policeman,” said Paul. “The US is trying to recover from $1.6 trillion we spent on wars in the Middle East. Not to mention the $5 trillion borrowed from COVID. We should not forget the Soviet Union collapsed in large part…because it ran out of money.”
He then suggested lawmakers install a special inspector general to oversee how the Ukraine military aid is spent.
“Congress should evaluate the cost of continuing down this path,” Paul concluded. “The biggest threat to the United States is debt and inflation.”
Sen. Chuck Schumer (D-N.Y.) will now take procedural steps in an attempt to overcome Paul’s objection, which could take several days.
TOPICS:aid packageAmericaCOVIDKentucky senatornewsOANNpoliticsRand PaulUkraineus economy
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2022-05-14T02:49:12Z
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Former New York Governor George Pataki (R-N.Y.) claimed Republicans have a great chance to win the governorship. In a radio interview Sunday, he said the GOP would beat former Governor Andrew Cuomo (D-N.Y.) if he ran again. Cuomo resigned in August 2021 amidst a string of sexual harassment allegations.
“Their is no one who supports Andrew except hardcore partisan Democrats,” Pataki stated.” I mean, you look at the polling, he is the most unpopular political figure in New York state and that’s saying something.”
Pataki voiced, current New York Governor Kathy Hochul (D- N.Y.) is also vulnerable. Hochul’s choice of Brian Benjamin (D-N.Y.) as lieutenant governor ended with the former state senator being bounced from the ticket after he was indicted on federal charges of receiving financial kickbacks.
“I think this is an opportunity for New York state,” he vocalized. “One of the last opportunities to get its act together.”
Former NY Gov. George Pataki said that Republicans have an “excellent chance” in the upcoming elections❗️
— CaitlinSinclairTV (@CSinclairtv) May 16, 2022
Pataki went on to say that the Democrats haven’t been addressing the needs of New York, so a Republican can come out on top.
TOPICS:Andrew CuomoBrian BenjamindemocratGeorge PatakiGovernorkathy hochulNew YorknewsOANOANNRepublicansenate
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2022-05-16T21:53:19Z
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State Sen. Scott Wiener, D-San Francisco, addresses the state Senate at the Capitol in Sacramento, Calif., Tuesday, Jan. 18, 2022. Wiener is introducing, Friday, Jan. 21, 2022 a bill that would allow children ages 12 and up to be vaccinated without their parents consent. (AP Photo/Rich Pedroncelli)
The Golden State is moving forward with a bill that undermines families medical decisions. The California bill allows children from ages 12 to 17 to receive different forms of healthcare without parental consent.
The bill passed the Senate Judiciary Committee at the beginning of May and recently passed the Senate Health Committee. The vote was 21-7 with Sen. Ben Hueso (D-Calif.) and Melissa Hurtado (D-Calif.) voting ‘no.’
The authors of SB-871 and SB-866, Scott Weiner (D-Calif.) and Dr. Richard Pan, are known for authoring radical vaccine bills.
Mother and founder of the San Diego-based grassroots coalition Let them Breathe, Sharon Mckeeman noted the possibility of the bill being passed.
“If this were to pass, there is going to be a mass exit from the public school system,” said McKeeman. “We are seeing that families are outraged and concerned that this responsibility is being put on their children’s shoulders. All this decision making, instead of staying in the family unit…especially during a time of uncertainty.”
Golden State parent advocates have been fighting against these mandates in public schools and are concerned about the California Legislature undermining the family unit.
Given that Democrats hold a veto-proof majority in both chambers and Gov. Gavin Newsom (D-Calif.) doesn’t have any issues proposing vaccine mandates, it’s a possibility the Golden State could see this bill come to fruition.
Despite this, San Diego-based attorney and father, Scott Davison believes there is a path moving forward and “still hope for California.”
“We really need these parents to speak out and get more involved with their school system, so that this doesn’t become a reality that we just push off into the future,” concluded Davison.
The next step is for the California State Assembly to vote on the bill and for Gov. Newsom (D-Calif.) to veto the bill or sign it into law.
TOPICS:Family medical decisionsGolden StateHealth CarenewsOANNParental ConsentpoliticsSan DiegoSenate Health Commitee
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2022-05-16T21:57:33Z
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Calif. Senate passes bill that lets kids get healthcare without parental consent | One America News Network One America News Network - Breaking News Updates | Latest News Headlines | Photos and News Videos
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President Joe Biden awards Stamford, Ct., Fire Fighter Chad Titus the Public Safety Officer Medal of Valor in the East Room of the White House, Monday, May 16, 2022, in Washington. (AP Photo/Andrew Harnik)
The White House hosted a ceremony on Monday to honor public safety officers who performed acts of heroism.
President Joe Biden and Attorney General Merrick Garland recognized 15 public safety officers by awarding them with a Medal of Valor. Biden gave the award to the 2020 and 2021 classes after the COVID-19 pandemic postponed both ceremonies.
The Medal of Valor is the highest honor a public safety officer can receive for performing acts of heroism.
“Today is an important day for the nation to give thanks for all that you do for everybody, for all of us,” Biden said. “Because of COVID-19 we couldn’t have this special ceremony for the past two years, but I’m honored that we finally can today. Fifteen public safety officers from eight different departments with a Medal of Valor, the highest award a president can bestow on a public safety officer.”
The recipients of the award included nine police officers and six fire fighters. One recipient was a North Carolina police officer who tragically passed away after saving a woman during a hostage situation in a busy retail area.
“You’re the heart and soul and the very spine, very spine of this country and your communities,” he proclaimed. “Each one of you from small town departments to big cities, you’re cut from the same cloth. You possess a selflessness that’s really hard to explain. A rare commitment to your neighbors and your fellow Americans, an unusual bravery that inspires everyone and you’ve been singled out because of your extraordinary heroism.”
Today, I awarded the Medal of Valor to 15 public safety officers – including two who died in the line of duty. These heroes represent the best of who we are as Americans – and these medals reflect the profound gratitude of our nation. pic.twitter.com/4DS4VNb7tL
Biden ended the ceremony by paying tribute to a retired Buffalo police officer who was killed during a mass shooting incident, which left 10 people dead and three others injured. The President is set to visit Buffalo on Tuesday in light of the tragic incident.
TOPICS:buffalo policefirefightersJoe Bidenmass shootingmedal of valorMerrick GarlandnewsNorth CarolinaOANOANNOfficerspoliticspresident bidenpublic safety
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2022-05-17T16:11:12Z
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