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0
http://www.reuters.com/article/us-banking-swift-crime-idUSKBN17D2TZ?il=0
http://www.reuters.com/article/us-banking-swift-crime-idUSKBN17D2TZ?il=0
SWIFT to introduce tool to spot fraudulent inter-bank messages
['Tom Bergin']
01-01-2021
reuters.com
success_wayback
gen
180,708
[0.949999988079071]
['Swiss authorities will introduce new automated systems to give banks another way to spot fraudulent activity within the SWIFT network, SWIFT said on Monday.\nThe automated banking and payment system is an increasingly popular method for money transfers to and from outside the countries where the SWIFT global network operates, because the transfers do not require banking regulations.\nSwiss police last month launched a pilot project to link the SWIFT network to an anonymous messaging service using the data to assess potential threats to peace, and to warn other banks of possible violence.\nSWIFT described the initiative as "an exciting step" that would help individual banks enforce “rules of engagement" and detect threats to their systems and to internal conflicts.\nIn October, Swiss bank SFr10 billion ($9.95 billion) was targeted for a massive cyber attack, which disrupted global financial markets and caused billions of dollars worth of damage.\nSwiss police launched a probe into the attack, the high-profile failure of which could have come back to haunt the bank in the future.\nThe new system will let police check if bank accounts are open to the same risk.\nPolice work with the SWIFT network to share sensitive information on the banks\' systems with the private world.\nSwiss financial institutions will also require the anonymity of their victims to be strictly adhered to, something that the system does not currently cover.\nSwiss bank officials will present new system to regulators at a seminar in April where authorities plan to set up a person-to-person inquiry.\nThe system could offer new ways for users of SWIFT to discover anomalies, the SWIFT network said.\nMarket participants were also intrigued, but the implementation of the new system would create uncertainty, it said.\nSWIFT already has a financial risk management system (FSA) which allows banks to manage legal or regulatory risks, such as the potential for criminal, financial or terrorist activity.\nThe new system will evolve significantly over the next 12 months, but many banks and technology providers have already begun to implement the system in a standardized manner in order to create a more secure environment for their customers.\nThe military-style system has been deployed by the U.S. Federal Reserve in order to keep the loan-backed securities in reserve for the U.S. military, unlike traditional SWIFT investment banking.\n(Reporting by Tom Bergin; Editing by Eric Meijer)\n']
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1
http://www.reuters.com/article/us-philippines-cenbank-idUSKBN17D2TG?il=0
http://www.reuters.com/article/us-philippines-cenbank-idUSKBN17D2TG?il=0
Staying the course, Duterte looks for the next best Philippine central bank chief
['Karen Lema']
01-01-2021
reuters.com
success_wayback
gen
180,709
[0.949999988079071]
['BEIJING (Reuters) - Philippine President Rodrigo Duterte on Thursday presented himself as the next central bank chief, three years after he left office following a severe crackdown on corruption in a country that relies on tax evasion to fund a bloated and inefficient central bank.\nPhilippine President Rodrigo Duterte (R) waves at members of the Philippine Institute of International Finance (PII) and other dignitaries after inaugurating an economic summit in Paragon, San Fernando province November 23, 2015. REUTERS/Erik De Castro\nDuterte is in strong demand to replace his self-described successor of previous head of state Arsenio Hirono, a former diplomat who was outed by Duterte as part of an opaque warrantless wiretapping program.\nThe radical reforms being touted by Duterte as allowing better public investment and cutting corruption have raised calls for him to give up power. His latest comments on nationalizing a drugs trafficking cartel, however, seem to have posed few moral and political risks for his successor as Philippine shares have been volatile.\n“Duterte’s conduct during his first full term was clear and a testimony to his consistency and openness,” said Carlos Massa, an independent financial advisory firm based in Manila.\n“He is convinced he has the competent and capable central bank leadership he needs to manage the Philippine economy.”\nThe head of the Philippines International Bank, Tim Polian, first was elected president in 2009 and is the current central bank chief with whom Duterte will face if-and-when national elections are held in May. He will serve until the end of a penultimate year.\nKEEPING THE COURSE\nAs he enters his third term, Duterte’s efforts to diversify sources of income from financial services with a planned privatization of the country’s state-owned utilities should provide a fresh initiative to steer economic growth as the country is winding down its decades-long war against drugs.\n“If the administration sees an opportunity to further diversify, Duterte has the credibility and have the confidence to manage the bank,” said Massa.\nUnder Duterte, government expenditure on public investment has risen 40 percent per year for the past 10 years. Last year, spending for public investment rose 23 percent, much higher than the previous year.\nHouseholds using government borrowing to buy materials to make telephone circuits used by telecommunications firms, for example, are richer than the 7.8 percent of households they tend to earn, business filings show.\n“It doesn’t matter if the bang for the buck is a sale of the new tax data, the money in the bank is actually local remittances,” said Takodao Nogong, an economist at HSBC in Manila.\nNogong also noted that Duterte’s talk of privatizing a mountain of confiscated U.S. government assets has raised eyebrows.\nIn his first press conference as president, Duterte said what the country needs more than anything else is to create job opportunities, boost investment and slash the current 10 percent tax on money transfers. “If we don’t have jobs and people, we will stop the healing in the great majority of the population,” he said.\nDuterte responded with more onerous taxes, including a 4.3 percent primary tax on pension funds, a 1.7 percent national minimum wage, a 14 percent real-time sales tax on cigarettes and a national sales tax on furniture and other imports.\nDuterte has been outflanked by other other countries in Latin America, where the opposition party Congress Party has dominated the economy, and the United States, where American investment has been hit by surging Asian trade.\nRISING INTEREST RATES\nDuterte has long argued that such high rates of interest rates over the past 20 years have knocked down incomes across the country.\nTax evasion has also risen while a national alert system for counter-diligence in the national corruption database helped Manila offset the effect of widespread graft.\nIn an interview last week, Duterte talked about enacting a single campaign to stop drug traffickers by forcing a successful drug deal out of existence to take the loss back to the public.\nDuterte’s comments have further drawn attention to Manila’s ongoing struggle against drug trafficking.\nA surveillance document released last month showed foreign investors — who do not get a credit check — were willing to pay 40 percent of earnings to Filipino drug traffickers in exchange for weapons and other contraband, including drugs.\n($1 = 88.0500 Philippine pesos)\n']
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2
http://www.reuters.com/article/us-usa-airlines-idUSKBN17D2R3
http://www.reuters.com/article/us-usa-airlines-idUSKBN17D2R3
U.S. airlines bumping fewer passengers, compensation varies
['David Shepardson and Grant Smith']
01-01-2021
reuters.com
success_wayback
gen
180,717
[0.949999988079071]
['NEW YORK (Reuters) - A few days after U.S. airlines bumped thousands of passengers, many suspected they were subjected to widespread price collusion, signaling heightened competition into the aviation market.\nFILE PHOTO: Four pilot go-go dancers fall with the American Airlines Airbus A380 and take off as they move into control as the International Air Transport Association (IATA) Air Berlin branch celebrates its 80th anniversary in Berlin, Germany, September 4, 2016. REUTERS/Fabrizio Bensch/File Photo\nFor everyone else, such price collusion concerns raised an eyebrow among analysts and suppliers for some U.S. airlines. Some regulators dismissed it as no one had ever heard of it, leaving them baffled.\nStricter regulation is in everyone’s best interest, from climate change to air pollution. But judging it purely from the information it’s released to the public is hard to do with context.\nThe bookending from data on the airline industry and rail transportation is a so-called “Obvious” breakdown into the airlines’ contention that their networks are inherently unfair.\nNot surprisingly, these statements sparked a debate among aviation suppliers, from airlines who said they were happy to have their data piped through public, classified systems. The biggest issue is the complexity of a consolidated information system so often needed to defend against a common opponent, such as a supercomputer and a remote nation.\nThe obvious breakdown in those numbers is in public disclosures, so let’s step back from the argument and define it simply.\nShould airlines continue to claim they are transparent, their data breaks down in layers along with fixed reporting obligations and changing metrics such as length of flights and fuel consumption? Over time, argues Tom Arvizu, a professor of management at Arizona State University and author of the popular book “Average Sofa Sofa Sofa Sofa” (Tomarro Interplanet).\nHe points to stats and proof points to help rank airlines and charge for fuel — something that may be better measured in US$5 per bus, than US$2.\nBut when you include carbon offsets and other measures such as climate change, the data is complicated, confusing and undermonitored by regulators who have little tolerance for the secretiveness of these agreements. In countries like China, airlines are less willing to use what’s available for private use — but this nevertheless undermines transparency and the very operations of the financial system.\nAmir Arif, an analyst at rating agency A.M. Best, argues that so far this been the case with none of the airlines. He points to that context as the key reason for FAA’s focus on transparency. The authority in charge of aviation airspace is still receiving its first major update since 2013, but there are still challenges.\nHere’s how A.M. Best calculated the issue: The “Take Current” chart will show the proportion of carriers singled out and the number of cancellations as a percentage of economy unit revenue. These would more accurately be measured as the percentage of carriers chosen by FAA to be discriminated against, but the actual number of flights that they make is still too small.\nThis chart, however, might provide a road map to getting FAA to open up the daily data to everyone. You can check out one on the website of Breguet, an international travel trade group.\nTo the dismay of critics, this is an example of the “Vulnerable” compartment of a commercially based airport. “This category should be used to assess airports’ relative operational risks, not segregated charts,” Arvizu says.\nIndeed, collecting data to protect the safety of travelers would require a wide range of options, including an iPhone or tablet. Arvizu is unconvinced. Still, this model would be a necessary tool for evaluating efforts to block contraband connections. In making the case that airlines are making an irresponsible attempt to hide the truth, is that really what’s at stake?\nNO WARS FOR THE HANDS\nReducing risk is an American goal, too. For airlines, transportation of goods and services should be paramount and given the opportunity to improve those standards in the best interest of consumers.\nThe government should make efforts to promote a level playing field for aviation suppliers, which has been shifting in recent years in favor of competition. There should be accountability to monitor the integrity of an opaque system so some truly legal terms of the trade are excluded from drawing results.\nEvery passenger should feel that airlines are and will always be best suited to service by improving efficiency, not resulting in new costs and price discrimination.\n']
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3
http://www.reuters.com/article/us-tesla-stocks-breakingviews-idUSKBN17D25I
http://www.reuters.com/article/us-tesla-stocks-breakingviews-idUSKBN17D25I
Tesla shareholders drive off into la-la land
['Antony Currie']
01-01-2021
reuters.com
success_wayback
gen
180,718
[0.949999988079071]
['SINGAPORE (Reuters) - Tesla Motors Inc’s shareholders have voted to suspend early trading until the company successfully gets to the market in six months, sending the shares tumbling 2.4 percent to a record low on Monday.\nThe stock exchange sign is seen outside a Tesla vehicle center in Tesla, California, U.S., January 31, 2018. REUTERS/Stephen Lam\nThe shareholders agreement, which followed a shareholder vote last November, gives the automaker time to file its 2018 earnings report next week.\nShares of Tesla’s parent company, Tesla Motors, on Friday said Chief Executive Elon Musk had tried to convince shareholders to approve a plan to fully wind down the company by this week, but was in no way related to the shareholder vote that has triggered the suspension.\nTesla is expected to file its 2018 financials on Friday after reporting disappointing third-quarter results on Friday, said William Gross, a portfolio manager at Warburg Pincus, noting that Musk often repeats his unplanned.\n“That’s why the people that voted on Friday in favor of the suspension haven’t filed for any elections to the board before,” Gross said.\nThe Musk “creators” will likely carry out the suspension only once stock markets regain his grip on the company, Gross said. Tesla’s stock has increased 1.5 percent this year, compared with a 3.5 percent loss for the broad S&P 500 .SPX index .MIXI.\nGross said Tesla’s revenue growth due to a surge in China may be more sustainable in the future and will likely remain in the single digits for the next five years.\nAnd even if its sales fall short of Tesla’s growth expectations, Gross expects the stock to be volatile as Tesla hires sales personnel to replace the leadership of its most experienced engineer after Musk announced last November that he would resign.\nTesla also faces competition in the high-volume electric vehicle market, in which it has more than 60,000 of its Model S vehicles, representing its largest customer base, according to the company.\n“Things could go south and there will be challenges in the market,” Gross said. “People are starting to look at Tesla differently and they’ll just worry and wait for it to come out.”\nTesla has faced some opposition in Washington, D.C., where President Donald Trump has threatened to block the government’s decision to release millions of dollars in bonds. The Trump administration says its decision to release them - up to 90 days after all bonds are expected to mature - may be influenced by congressional budget talks.\n']
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4
http://www.reuters.com/article/us-usa-trump-business-idUSKBN17D1ZD
http://www.reuters.com/article/us-usa-trump-business-idUSKBN17D1ZD
Trump’s message to bankers: Wall Street reform rules may be eliminated
['Jeff Mason and Sarah N. Lynch']
01-01-2021
reuters.com
success_wayback
gen
180,719
[0.949999988079071]
['WASHINGTON (Reuters) - U.S. President Donald Trump is warning U.S. financial institutions that the post-election efforts to pass a reform to the nation’s financial sector may be realized only if they follow through on pledges to “slow” the system’s evolution, a message floated by lobbyists on Capitol Hill on Thursday.\n“I understand that Wall Street needs to learn a lesson, and I don’t think any of us will know that it has been taught in advance of the elections,” Trump told a group of lobbyists during a conference call he hosts at the White House with CEOs, bankers and others.\n“The message was, don’t support the banks, don’t support the process, they have been derelict in their responsibility,” he said, warning that the new rules, which will take effect at the end of March, may make them less open to the public.\nTrump also said he has no plans to fix the Affordable Care Act, the 2010 law that reined in mortgage interest rates and led to the nationalization of JPMorgan Chase & Co (JPM.N), Wells Fargo & Co (WFC.N) and a number of smaller lenders.\nInstead, he wants to make sure Washington does what it can to prevent them from being caught up in the fast-changing financial system in coming months, without putting their jobs at risk.\nFor instance, people working in the U.S. insurance industry may be ineligible for employer coverage as a result of new requirements, according to an April study by the American Academy of Family Physicians and the American Bankers Association.\n“I think we’re going to see the Obama administration continue to defend the Affordable Care Act as it tries to protect the poor and struggling families,” Trump said.\nThe Financial Services Roundtable, which represents big U.S. institutions like U.S. Bank and Wells Fargo, has supported the reform. Its meeting on Thursday was the first time the group met since the election, the self-proclaimed “White House source told Reuters.\nThe group is part of the Financial Industry Regulatory Authority, the regulation agency that manages the wealth management industry, which it chairs with the aim of integrating its products.\nFRA said that while requiring some non-bank payers to give full refunds for high-interest bank overdrafts may ultimately be the next step toward reinstating losses from so-called nonpayment fees, it did not “find the changes proposals likely have the potential to materially strengthen the financial industry.”\nSuch measures could potentially slow the descent of so-called reserve banks, which are able to hold billions of dollars in securities but have been criticized as over-leveraged and undervalued.\nThe industry is mindful of some tax measures that have been discussed in Washington during the last few weeks.\nIf it is successful, Fed policy-makers and financial industry leaders may alter the Basel III rules. But doing so could raise concerns among some bankers that the U.S. financial system is too risky.\n']
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5
http://www.reuters.com/article/us-california-shooting-idUSKBN17D258
http://www.reuters.com/article/us-california-shooting-idUSKBN17D258
Police probe motives behind fatal San Bernardino classroom shooting
['Olga Grigoryants']
01-01-2021
reuters.com
success_wayback
gen
180,720
[0.949999988079071]
['SAN DIEGO (Reuters) - The motive behind a shooting on Saturday that killed at least 11 people and wounded 16 in San Bernardino County is “alleged” but authorities said they were pursuing the possible killer.\nA still image shows school children following the shooting at San Bernardino Elementary School in Redlands, California in this file photograph taken January 31, 2017. REUTERS/Aaron Fernandez/Files\nDeputy Sheriff Mike Ramos said authorities have not determined a motive for the shooting, which is still under investigation but investigators are looking at what is known in law enforcement about the circumstances of the incident and what types of weapons were used.\nAll of the victims were from the 33rd district of San Bernardino, where the school had been for days, Ramos said. At least one of the victims was a 10-year-old boy.\n“It’s a tragedy, so we are seeking to find out what they did,” he said.\nEight people were shot and killed at a possible off-campus residence, which has taken on a nationwide digital component, and five people were injured.\nThe victims ranged in age from 16 to 40, and many of them live in or near Yucaipa, an area of about 80,000 people surrounding San Bernardino. The 15 schoolmates were among the dead.\nSchools spokeswoman Bernice Cervantes-Anus said the district had not yet determined a motive for the shooting. There was no information on additional students who were wounded, she said.\nAuthorities evacuated a populated area near Yucaipa High School on Saturday evening as San Bernardino County Fire Chief Ralph Wilson said shots rang out about 4 p.m.\nThe victim was identified as 28-year-old suspect No. 1. A person who answered the door who identified themselves as a neighbor said all the shootings were in the neighborhood.\nREDLANDS ACTIVE TEACHER KILLED\nOf the victims, the 12 students were from the Washington-based global Leadership Academy in Rancho Cucamonga, the office said. That school has about 20 student zones.\nTwo days ago a woman identified as the mother of one of the victims was shot dead in San Bernardino in what police said was a battery-style attack. She was identified as 37-year-old Yvette Herrera.\nHerrera was among many U.S. students who heard a loud boom and then saw the white SUV that had engulfed them carrying the dead children on fire.\n“This is not a random act of violence,” San Bernardino County Sheriff’s Lt. Victor Rosado said on Saturday. “This tragedy is not random, this tragedy is a terrorist attack.”\nPamela Moore, the mother of one of the victims, said a man she did not know was trying to break into her home. Her son James Moore, however, said James is not a violent person.\n“He’s a good boy and he never cussed. He was going to go get his gun. He had just gotten a photo for his certificate.”\nHours earlier, another gunman opened fire, hitting an elementary school teacher in the San Bernardino area, according to local television station KPIX-TV.\nChris Flores, chief business officer for the National Guard in San Bernardino, said he and other officials in Northern California were attempting to administer first aid to the injured.\nAn added concern is that some of the more active shooters who have drawn national attention are armed.\nBut the state of security is a priority, Deputy Auditor of Public Safety Phil Cozen said.\n“People have to keep an eye on our resources,” he said. “Before you start shooting, have a team of people with the responsibility of going out to the front and be on the scene with to go get to the shots.”\n']
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6
http://www.reuters.com/article/us-soccer-champions-dor-mon-blast-idUSKBN17D2D0
http://www.reuters.com/article/us-soccer-champions-dor-mon-blast-idUSKBN17D2D0
Blasts hit Borussia Dortmund soccer team’s bus, leaving player hurt
['Kai Pfaffenbach']
01-01-2021
reuters.com
success_wayback
gen
180,721
[0.949999988079071]
['BERLIN (Reuters) - A crowd of around 5,000 people surrounded the Borussia Dortmund soccer team’s bus, shouting “Shame” and shaking its windows, after the Nazis torched it near the city centre in Nazi-occupied Germany on Tuesday.\nPlayers and staff at the bus, which left Dortmund’s stadium following a 3-1 loss to Bayern Munich in the Bundesliga on Saturday, could be seen being punched and tattered.\nThe incident took place at around 1:30 p.m. local time as the bus was leaving the stadium to take part in the Champions League.\n“The people were angry, they were crying,” Dortmund coach Sven Bender said. “They lost interest in the country.\n“Who ever saw people with injuries and buses coming towards us, wouldn’t they be furious?”\nThe bus was packed with players from Germany’s premier club Bayern. Around 40 other people, wearing jerseys with the team logo, were also on the bus.\n“They ran out of the building,” Dortmund spokesman Anke Schafering said. “Everyone in the stadium was upset.”\n“The van did not stop, it drove back and back up.”\nAt least 10 people were injured.\nThe FA will investigate the incident, Dortmund spokesman Hans-Peter Rohde said.\nIn Berlin, fans of Dortmund, one of the world’s best-ever German football teams, gathered around the bus chanting “Nazis don’t want you in the German army”.\nOutside Dortmund’s football stadium, fans chanted “Dortmund beat Bayern”, referring to the Nazi regime that occupied the city.\n“They tried to hurt our brand,” said baseball fans, who held “Seutsch”, a reference to the German phrase “shoulders of Hitler”.\n“They were going to take up arms against the football team. But then, we saw the film in which they were trying to take up arms.”\nBoth the Associated Press and Sky quoted witnesses who said the bus hit the driver, who then fled the scene and was later held by police.\n']
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7
http://www.reuters.com/article/us-guantanamo-cancer-lawsuit-idUSKBN17D2N2
http://www.reuters.com/article/us-guantanamo-cancer-lawsuit-idUSKBN17D2N2
Lawyers working at Guantanamo sue Pentagon over cancer risk
['Jonathan Stempel']
01-01-2021
reuters.com
success_wayback
gen
180,722
[0.949999988079071]
["(Reuters) - Lawyers and former military personnel working at the U.S. military base at Guantanamo Bay, Cuba, are suing the Pentagon for damages from weapons-related toxins, including cancer, that it says could be put to use in wars.\nFILE PHOTO: A medical marijuana mask shows the plant used in medical marijuana preparation outside the U.S. Marine Corps' Military Medical Center in Chicago, Illinois, U.S., November 9, 2016. REUTERS/Jim Young/File Photo\nThe lawyers, Steven Schwartz and Susan Grossman of the Chicago law firm Steptoe & Johnson LLP, filed the lawsuit in a federal court in Washington state on Friday. The suit claims the Pritzker-owned facility is the deadliest U.S. cancer center and that an allied anti-communist group in Cuba is responsible for damage to the facility.\nThe Pentagon’s Defense Health Department did not immediately respond to a request for comment.\nOver the past several months, private lawsuits have been filed against various U.S. military facilities in Cuba, including Guantanamo. The Defense Department estimates that in 2017 it lost at least 750 men and women in 25 post-traumatic stress disorder and suicide attempts to their loved ones at a facility in Cuba. That figure is an estimate of future losses, not a total.\nIn 2001, the Pentagon sued Am3 Technologies, based in Rochester, New York, for causing “injured and dislocated personnel.” Am3 filed a separate lawsuit last year.\nSimilar federal lawsuits, filed last year, involve U.S. troops and sailors who served in Iraq and Afghanistan.\nIt is not clear whether the Pentagon has been unsuccessful in rejecting the law’s claims against the military operations. U.S. troops in Afghanistan face a strategy to keep out foreign terrorists and proxies who might have intentions of attacking them.\nAdditionally, some officials in Afghanistan’s civilian government regard the military operation as a potential recruiting tool for recruitment from militant Islamists.\n"]
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8
http://www.reuters.com/article/us-new-york-budget-tuition-idUSKBN17D2KL
http://www.reuters.com/article/us-new-york-budget-tuition-idUSKBN17D2KL
New York rolling out free tuition plan for many students
['Gina Cherelus']
01-01-2021
reuters.com
success_wayback
gen
180,724
[0.949999988079071]
['CHICAGO (Reuters) - In the New York City area, the state is rolling out its first universal free tuition plan for first-time and graduating students, along with a charter school system for their fellow students.\nProposed by Democratic Governor Andrew Cuomo, the new, statewide tuition plan would, among other things, guarantee long-term residency in the United States, allowing New York City to charge more than 10 percent tuition for students who enroll in traditional public schools.\nThe plan is scheduled to start being phased in soon to a nearly 300,000-person community college district in 20 communities statewide, according to the state’s Department of Finance.\nA proposal to change the status of city colleges to run independently was also proposed earlier this month. Last month, the Department of Financial Aid approved new accounting practices for grant payments, eliminating a state requirement that paid out by the end of the first year.\nOnly pre-kindergarten-eligible students would be covered by the New York Free Public School Program, said Liesl Atherton, executive director of the New York Free Public School Project. Only those who enroll in the state-run programs would get subsidized loans from the state, she said.\nNew York State has nine charter schools, which are essentially community colleges with high tuition rates.\nThis year, they will take enrollment up to 36,500 students from other districts. Beginning in early 2021, they would be funded through existing state aid programs, followed by new costs and hours that would mostly be covered by additional increases or fees, Atherton said.\nAndrew Farrell, the head of New York’s administration, said the state would expand the options for graduating students in the program, from individual high school diplomas and spring preferred diplomas to elementary certificates, sophomore scholarships and full-time scholarships.\nThe cost of three days of free tuition at a public high school would rise by 2 percent, Atherton said.\nOver the past decade, the state has allocated about $1.5 billion a year to school districts to help school districts meet enrollment goals, many of which are more expensive than traditional public schools, Farrell said.\n“We believe that attracting affluent, liberal-arts students to school is key to keeping New York City growing,” Farrell said in a statement.\nThe province of New York will charge a five percent tax on college tuition, and then gradually raise tuition fees from $1,500 to $3,500 for people and $2,500 to $3,000 per individual.\nThe rate has been increasing and maintaining it for about 20 years, Rokalhepar, spokesman for Empire State Development, said. The initiative will prevent some charter schools from serving certain districts and provide a few more districts with options, he said.\nAfter the changes are finalized, fees will also be added for students who enroll through the public school system, he said.\nThe program is open to students with graduated licenses who have completed high school before their parents’ signing up for the free public school, Atherton said.\nCuomo’s proposal has drawn criticism, from the American Federation of Teachers and school districts across the country that have found their own struggles with preparing students for jobs.\nThe layoffs related to the program were more than 50 percent of them, Atherton said.\nNearly two-thirds of students with free public school materials have taken classes in the state’s new system, Atherton said.\nIn Washington, a four-day public charter school program in Tri-State Area was one of the first states to adopt the New York plan, Atherton said. The plan includes teachers’ union-mandated background checks and solidifying college waivers that teachers typically find difficult to fill at state-run schools.\n']
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9
http://www.reuters.com/article/us-france-election-idUSKBN17D18R
http://www.reuters.com/article/us-france-election-idUSKBN17D18R
Macron, Le Pen hold French election lead but investors eye Melenchon surge
['Richard Balmforth']
01-01-2021
reuters.com
success_wayback
gen
180,732
[0.949999988079071]
['PARIS (Reuters) - French centrist Emmanuel Macron has little to gain by going back to business as usual but his campaign has raised the prospect of a strong showing from his increasingly senior backers as his National Front party attempted to build a majority in the chamber of parliament.\nFILE PHOTO: French centrist Emmanuel Macron gestures during a news conference following a victory over the anti-Islam Family Front in the local elections in the southern port city of Marseille, France December 8, 2018. REUTERS/Regis Duvignau/File Photo\nMacron, who is making a bid to replace long-time Socialist President Francois Hollande, has said he wants to “no longer have a clock in my pocket” to oppose extremist groups such as Islamic State and the far-right National Front, who have gained share in recent surveys.\nThe main challenger to Hollande, conservative Marine Le Pen, said on Sunday that she would hold a decisive election victory should her party win in next week’s parliamentary elections. She also promised to continue France’s gradual commitment to trade, competitiveness and quality of life.\nThis gap has widened since 2015 after Macron’s presidential campaign began, when he pushed for a constitutional referendum on allowing greater migrant, temporary worker visas for Muslims, among other demands.\nArrival of new laws by Emmanuel Macron in Brussels is one indicator of how far the more experienced president has travelled in the race for leader.\nCatherine le Repleur, an adviser to his campaign, said her hopes for Macron are relatively well-founded and that she hopes that he will be elected into the next French presidency if he is elected in the February 22 election.\nHer knowledge of the “basic realities” of the Le Pen candidacy was enhanced by her desire to serve as a constitutional “devotees” who can drive the country to the right of center.\nLe Pen has become more vocal in her campaign rhetoric than Le Pen’s, an invitation to dialogue that has allowed her to assert herself far more freely in France than Macron.\nIn the run-up to the inauguration of a new Congress for the National Assembly on Friday, leaders could chose, as Macron has said, to continue under Macron’s administration.\n']
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10
http://www.reuters.com/article/us-mideast-crisis-syria-un-idUSKBN17D2AA
http://www.reuters.com/article/us-mideast-crisis-syria-un-idUSKBN17D2AA
Western push at U.N. to boost backing for Syria gas attack inquiry
['Michelle Nichols']
01-01-2021
reuters.com
success_wayback
gen
180,733
[0.949999988079071]
['UNITED NATIONS (Reuters) - Western experts say the United Nations is on the right track to expand its inquiry into the deadly gas attack in Syria on December 17, putting pressure on Russia to move ahead with a resolution that calls for international inspection and the arrest of Syrian officials responsible.\nRussia\'s Foreign Ministry said Monday it would ask the United Nations to investigate the incident that has highlighted a growing gap between the international community and Damascus.\nIn a draft response presented to the United Nations Security Council, the Western powers insist that Damascus will comply with an earlier request that all 30,000 people "suspected" of supporting or supplying weapons to the Assad regime go on trial at a court in absentia.\nIf not, the region’s reaction must be led by the United States, Russia, China, Britain and France, the backers of a Syrian opposition bill introduced by French President Emmanuel Macron that would prevent UN inspectors from helping countries such as Russia investigate them.\nThe body has yet to decide on its resolution, but that usually requires unanimity.\nAfter criticism at home, the United States and Russia agree that there is no way to suspect backing for an inquiry is imminent.\nA Syrian rebel group called the opposition says it is skeptical about the legal authority of a new panel of inquiry, which the opposition says will fail to immediately probe grave human rights violations elsewhere in Syria.\nThe independent Syrian National Council (SNC) said the new panel had more than a month to work out its legitimacy and talks would start quickly.\n“We are not in isolation from the U.N. (Commission) or the Council. In fact, the efforts and different information combined in the current situation are definitely more significant than all the efforts to investigate war crimes in Syria,” the council’s observer mission to Syria, Efraim Zifaya, told reporters.\nThe so-called United Nations Interim Commission of Inquiry on Syria, established in January 2011 by Paris and Washington, is a joint U.N.-government-managed by more than 100 civil society organizations.\nIt has met only once, in 2018, when an investigation was found to have failed to investigate that country’s alleged involvement in the deadly gas attack on December 17, 2016.\nThe Syrian Observatory for Human Rights, a Britain-based opposition monitoring group, said in a statement that members of the commission of inquiry working in the Arab country had already discussed the situation with U.N. Secretary-General Antonio Guterres, and Turkey’s chief of military intelligence.\nSeveral countries, notably France, have called for an investigation.\nTheir U.N. ambassador said on Monday there was overwhelming evidence of “hundreds of millions of dollars” in funding tied to the investigation “completely backfired.”\n']
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11
http://www.reuters.com/article/us-lyft-funding-idUSKBN17D2I8
http://www.reuters.com/article/us-lyft-funding-idUSKBN17D2I8
Lyft lands $600 million in fresh funding; company valued at $7.5 billion
['Heather Somerville']
01-01-2021
reuters.com
success_wayback
gen
180,734
[0.949999988079071]
['(Reuters) - Lyft Inc (SRX.N) (SRX.O) said on Monday it has secured $600 million in venture funding from a group led by Blackstone Group LP (BX.N) and Disney Co (DIS.N) as the ride-hailing company tries to grow in a market where near-term concerns over the commercialization of the industry have raised concern.\nFILE PHOTO: A passenger walks at Los Angeles International Airport, California, U.S., October 30, 2017. REUTERS/Mike Blake/File Photo\nLyft, which has been struggling to build out its core business and have become a target of activist investor Carl Icahn, said the new financing would give it $1.1 billion to expand its consumer consumer subscription platform and about $100 million for continued growth in its China and global growth.\nLyft, which will use the new money to buy out ODM Worldwide Inc ODMW.O in a deal that comes to be known as Lyft GreenStar, said Chief Executive Officer Dara Khosrowshahi will bring former Lyft founder and Chief Operating Officer John Zimmer to the board to help lead its efforts in the rapidly changing ride-hailing market.\nLyft is also evaluating the sale of its competitor Uber Technologies Inc (UBER.O), which is not expected to fetch $13 billion, as its sales business is already struggling to perform in an increasingly competitive market.\nThe transaction is expected to be completed sometime in the next few months, Lyft said.\nLyft’s new funding comes as the ride-hailing company seeks to expand in the rapidly growing mobile communication and sharing arena, which rivals Uber.\nIn a move to expand beyond traditional ridesharing, Lyft also announced plans for a $1 billion loan to allow it to use existing funds to further accelerate its growth in the United States.\nLyft’s U.S. expansion plan is still unfolding, he said.\n“We do have an opportunity and right now the combination of its size and scale makes us a very attractive partner,” Khosrowshahi said on a conference call with investors.\nLyft’s first flight of licensed self-driving technology Lyft unveiled on Monday has drawn huge interest from investors such as IBM (IBM.N), Oracle Corp (ORCL.O) and NVIDIA Corporation (NVDA.O).\n']
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12
http://www.reuters.com/article/us-dialog-apple-idUSKBN17D0VF
http://www.reuters.com/article/us-dialog-apple-idUSKBN17D0VF
Apple may ditch Dialog, analyst says, hitting chipmaker’s shares
['Eric Auchard and Harro Ten Wolde']
01-01-2021
reuters.com
success_wayback
gen
180,735
[0.949999988079071]
["(Reuters) - Apple Inc’s (AAPL.O) new devices and advertisement projections for the fiscal third quarter may go according to plan, but the tech company may change its tune and rely on Dialog SA’s (DMGJ.SI) chipmaking business as a core competency, according to independent research firm Bernstein Research Inc (BARC.N).\nA woman walks past a screensaver showing a logo at the Apple retail store in Apple's San Francisco, California, U.S., September 9, 2018. REUTERS/Robert Galbraith\nBernstein said its estimate of a $1.07 billion profit for the fourth quarter would have sent Qualcomm Inc’s (QCOM.O) share price to new highs in late morning trading, but an even bigger comment from Bernstein provided a cautionary tale on the chances of Apple’s iPhone X handset being adopted by Samsung Electronics Co Ltd (005930.KS).\nFILE PHOTO: Wall Street analysts usually weigh in on Apple products and supply chain issues, and in this scenario Bernstein's share price's high predictions are impacted by the uncertainty surrounding supply chain and demand. REUTERS/Stephen Lam/File Photo\n“Apple likely uses its own reboots of its flagship devices such as the iPhone 8, iPhone 8 Plus and iPhone X to mark down its marketshare at this time. To the contrary, marketshare increases both for the competing devices’ sales and additional support during initial approvals,” Bernstein said in a note Wednesday.\nThis change, it added, could give Apple an incremental boost to boost its top line with non-iPhone models hitting shelves in its component lines, such as chips for its low-cost iPhone X smartphone series.\nBetween the two, Bernstein estimates a current share value of about $426.5 billion.\nApple’s iPhones account for 65 percent of total sales, followed by each other representing about 20 percent. Google Inc’s (GOOGL.O) devices make up the rest, at 20 percent.\nBernstein noted that Apple’s new iPhones and its faster 5.7-inch displays may benefit from being more affordable, which would result in the iPhone X’s success.\nSuch a move could increase Apple’s market share and increase its revenues, although Bernstein maintained its $1.07 billion figure, saying all of this growth would come from new home goods offerings, not from iPhone X sales.\nThe risk that Apple would lose this strength on higher-end iPhone X devices is small, Bernstein said, which it said is typical of such trends. However, more effective deployment of the new iPhone would eliminate the premium price impact, it added.\nBut Bernstein said the risk is outweighed by the opportunity.\n“Over the long term, Apple’s iPhones may be the best-selling brand among all-electronic products, and their market share will erode over time as carriers remain reluctant to service the devices as not at full cost,” Bernstein said.\nSome analysts, including Bernstein, reiterated their ratings of a hold and underperform rating on the stock.\nMeanwhile, Bernstein called out Apple as having “certainties and risks” but is not altering its widely anticipated revenue forecast for fiscal 2021.\nApple shares were up 1.8 percent at $643.38 in early trading, while Samsung shares fell 1.5 percent.\n"]
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13
http://www.reuters.com/article/us-usa-trump-china-northkorea-idUSKBN17D1G6
http://www.reuters.com/article/us-usa-trump-china-northkorea-idUSKBN17D1G6
China will get better U.S. trade deal if it solves North Korea problem: Trump
['David Lawder']
01-01-2021
reuters.com
success_wayback
gen
180,738
[0.949999988079071]
['WASHINGTON (Reuters) - President Donald Trump said on Tuesday that he would like to see better U.S.-China trade deals if it creates a better system of health and wages across the world, and will work with Congress to gain more revenue from those agreements.\nU.S. President Donald Trump speaks at the U.S. Chamber of Commerce annual "CEO Summit" in the Diplomatic Room of the White House in Washington, U.S., January 1, 2017. REUTERS/Joshua Roberts\n“If Congress comes together, I don’t think you’re going to see much change,” Trump told a small group of reporters. “I think they will come together for some reason and get it worked out.”\nA negotiated deal to overhaul trade, and thus the larger international deal to rewrite the North Korean nuclear codes, is almost certain to come into effect next year, after the reimposition of World Trade Organization rules, albeit in a different fashion from some of Trump’s predecessors’ “fake news” attacks.\nTrilateral U.S.-China relations have suffered because of political and economic friction. China and the United States have become increasingly bitter, and China’s dispute with the United States over trade has complicated efforts to coax North Korea out of its nuclear program and aid economic development.\nChina, America’s largest trading partner, has also been working with trade officials to help establish better artificial intelligence in U.S. agriculture, a key source of revenue for many U.S. agricultural groups.\nAs U.S. Republicans do not understand the broader problems that are created by complex trade and economic issues, Trump agreed.\n“If you’re not a big deal with China, if you’re not a very big deal with China, it’s almost impossible,” Trump said. “How long can I be a big deal with nobody?”\nTrump’s Sunday speech on economic matters weighed heavily on his Twitter feed, even though most of his questions focused on the economy and trade.\n“American trade with China will go down in the years to come, if nothing changes,” he said.\nPENDING CONFIDENCE\nWhen asked on Tuesday by Reuters if he was concerned about the tough trade relationship the United States is a part of, he said: “I think generally speaking, I think people will accept that we’re a big guy, but if there is a trade relationship with China, I think, that relationship will get improved.”\nTrump had earlier threatened to slap tariffs on a wide range of products from cars to textiles and pulled out of a December trade agreement with South Korea.\nThe president is already facing pressure from Republicans in Congress to pay back part of his $34 billion tariff bill, including $6 billion against China.\n“We’re going to have a lot of trade for a number of very good reasons,” he said. “I think they probably (Republicans) have a different approach to tax reform than I did a couple of years ago because I think very large tax reform, we probably get a $25 billion tax cut.”\nBut he tempered those remarks by saying the reality is that trade is “a game of chicken.”\n“People would prefer to deal with the bad guy rather than deal with the good guy,” he said.\nHis administration is pursuing a multibillion-dollar trade overhaul to help the United States fill a $35 billion gap in exports but might struggle to keep up with technology advances.\n“One of the problems is that that I think isn’t just the trade problem, it’s the way I think we deal with the technology challenges in the world,” he said.\n']
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14
http://www.reuters.com/article/us-maryland-drugs-idUSKBN17D2O6
http://www.reuters.com/article/us-maryland-drugs-idUSKBN17D2O6
Maryland lawmakers approve bill to fight drug price-gouging
['Ian Simpson']
01-01-2021
reuters.com
success_wayback
gen
180,739
[0.949999988079071]
['U.S. Representative Joe Pitts (R-Pa.) speaks at a press conference to introduce legislation to address the growing conflict between high-grade drugs from pharmaceutical companies and U.S. lawmakers, at a news conference in Livingston, Maryland, November 27, 2015. REUTERS/Jonathan Ernst\n(Reuters) - House of Representatives lawmakers on Tuesday approved a bill to curb drug prices by up to $1,000 a year, to encourage states to join a number of states in making it easier for consumers to remove unlawful drugs from the market.\nIn a bid to combat the impact of a decision by the U.S. Food and Drug Administration to prohibit the sale of generic versions of prescription medicines and the phenomenon of a vast supply chain of cheap drugs on the market, lawmakers in states like New York and California have enacted drug price regulation.\nCalifornia is considering changes as a result of the Fed’s decision to let it borrow hundreds of billions of dollars from banks. The state adopted its own price regulation earlier this year.\nIf passed, the House would become the latest state to tackle the market. New York already uses legislation to keep non-commercial sales of generic pharmaceuticals from sale, rather than force manufacturers to hand over some of the profit to account for forced rebates.\nThe bill approved by the House on Tuesday’s 217-237 vote cleared the House panel before setting up a vote in the Senate, where a bipartisan group of lawmakers is studying whether to move to head off its sponsor.\n“Would the pharmaceutical industry lobby? Yes,” an aide to several lawmakers in the House said. “Could the pharmaceutical industry even use the current situation? Yes. And could the threat of the Pfizer (pharmaceutical) merger have any effect? Yes.”\nIn its reform package, the House of Representatives earlier this year passed a bill requiring retail drugstores to establish paid inclusion zones in drug delivery centers and to require multiple forms of compliance under consumer protection laws to promote transparency.\nIn 2015, California finally introduced a law requiring drug retailers to inform consumers the amount of what they pay for one generic drug and the same for a similar brand, similar to Sanofi’s PFE generic, by deadline next July.\nThe change aimed to make it easier for consumers to remove unlawful drugs from the market, but its rollout would likely be restricted because the country’s top political leaders have opposed the measure.\nThere has been a push to use the model model, according to Maria Perulo, assistant professor of law at Harvard Law School.\nHowever, raising the minimum price of a generics drug, or IPR, for a sub-$10 drug in the United States will be a decidedly less stringent initiative in states that have legalized low-price medical products.\nMany of the seven states to legalize IPR drugs - Colorado, Florida, Delaware, Illinois, Georgia, Kentucky, Maine, Minnesota, Missouri, Nebraska, North Carolina, Utah and Washington - do not have that model.\nPennsylvania is one of seven states to have enacted individual sales price controls, rather than requiring chains of pharmacies to price each product individually, which reduces the overall cost of an over-priced medication.\n']
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15
http://www.reuters.com/article/us-usa-russia-idUSKBN17E1AF
http://www.reuters.com/article/us-usa-russia-idUSKBN17E1AF
U.S.-Russia relations at another low after Syria attacks
['Yeganeh Torbati, Denis Dyomkin and Jeff Mason']
01-01-2021
reuters.com
success_wayback
gen
180,743
[0.949999988079071]
['WASHINGTON/BEIRUT (Reuters) - President Donald Trump’s move to withdraw U.S. forces from Syria threatens to deepen Russia’s geopolitical isolation from an ally Russia has relied on for years to assist U.S. efforts in stabilizing its neighbour.\nFILE PHOTO: A Russian soldiers stand at a checkpoint in the Syrian town of Saraya-Alsif, after fighting broke out in the neighbourhood, in the Kurdish-held part of southern Syria, Syria January 1, 2017. REUTERS/Ammar Abdullah/File Photo\nU.S. Secretary of State Rex Tillerson said on Tuesday U.S. President Donald Trump “simply cannot ignore” Russian objections to a reported Russian plan to attack Iran-backed forces in Syria.\nRussian Foreign Minister Sergei Lavrov told Trump his mission to secure the safety of Russian troops in Syria was a “crucial decision.”\n“Doing so would be a blow to Russia as a Russian army,” Lavrov said.\nRussia’s foreign ministry said Lavrov had said on Tuesday that Moscow and Washington would continue their mutual cooperation.\nAnd Russia’s stance on Syrian Kurdish YPG militia that have been fighting alongside the United States in Kurdish-held Aleppo in Syria’s eastern Ghouta region highlights the lack of direct control of the YPG - a U.S. ally backed by Russia.\nRussia and the United States have also clashed on Syria over how to deal with Syria’s Kurds, who have largely relied on U.S. support.\nRussia’s top diplomat, Foreign Minister Sergei Lavrov, plans to meet Syrian Kurdish leaders in Moscow on Monday to discuss “a range of strategic problems.”\nPutin on Tuesday reiterated Moscow’s stance on Assad, stressing its interest in defeating Islamic State militants.\n“Russia needs to see an end to Syria’s civil war, and the protection of freedom and security for the Syrian people from terrorist groups, and the preparation of further peace negotiations with the Syrian Kurdish YPG,” he said.\nIn Washington, meanwhile, Pentagon spokeswoman Dana White said Trump was committed to the United States “pursuing objectives through a political process”, but would not say how important the U.S. commitment was to Russia.\nShe did not specify what Putin’s role would be.\nThe U.S. decision on Syria, as part of Trump’s broader push for a more muscular position on Russia’s nuclear and missile arsenal, is one of the administration’s biggest concerns.\nOver the past several months Trump has proposed including the United States in a regional “pivot” to Asia, although it has drawn little support from Moscow.\nScholars at Washington’s Wilson Center and Carnegie Europe think the Trump administration has “serious reservations” about Russia’s influence in Western countries and its own role in supporting the administration in Syria.\nThe U.S. House of Representatives overwhelmingly passed a bill this month calling for a global ban on Islamic State fighters in the Middle East and North Africa, known as the Assad transition.\n']
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16
http://www.reuters.com/article/us-usa-russia-tillerson-relations-idUSKBN17E2IC
http://www.reuters.com/article/us-usa-russia-tillerson-relations-idUSKBN17E2IC
Russia and USA, after Tillerson talks, agree modest steps to mend ties
['Yeganeh Torbati and Denis Dyomkin']
01-01-2021
reuters.com
success_wayback
gen
180,744
[0.949999988079071]
['U.S. Secretary of State Rex Tillerson attends a news conference in Vienna November 15, 2017. REUTERS/Heinz-Peter Bader\nTUCSON/BEIJING (Reuters) - Russia and the United States will take steps to mend their damaged ties as early as Thursday following United Nations attempts to broker a peace in Northern Syria, a senior Kremlin spokesman said on Thursday.\nA series of U.N. and U.S. efforts to rekindle the two sides’ bitter past took a deeper turn on Wednesday when Russia intervened in the war against Syrian President Bashar al-Assad and the United States said the Russian government had no role in the operation.\nIn what appears to be a slight sign of stalled negotiations, the United States and Russia, which are intended to push forward a multilateral process aiming to restore peace in the strategically located border region, agreed on “minimal steps” that Washington would not take in coming days.\nThey agreed to not take the most common route of talks, including signing memorandums of understanding, while covering up any past lapses and reining in one another in Syria.\n“These steps will not ease tensions. But they will help to facilitate the goal of restoring an atmosphere conducive to dialogue, reconciliation and disarmament,” the Kremlin spokesman, Dmitry Peskov, said in a statement.\nPeskov did not name the breakthrough as an example but said Moscow has agreed to the United States and the United Kingdom to support the work of the two countries to implement more than one peace plan this year and that the United States and Russia “will take collective responsibility”.\n“RIGHT TO DIGITAL, INTENSIVE STEP”\nTies have been strained for years by the U.S. presence in Syria, its interference in the presidential election in 2016 and the threats from Islamic State. Russia has warned Washington and the United Kingdom to reject any new arms shipments it raises fears of Tehran becoming a regional proxy.\nThe United States and Russia have been at loggerheads for several months over Damascus’ treatment of Russian workers at its embassy in Moscow, perceived as Moscow’s eyes and ears when it changed its position on three days before the inauguration of Donald Trump as president.\nMoscow previously said it would release a candidate for president, without detailing who that might be, and the United States said it would not support the decision.\nTillerson played down Russia’s ability to establish a permanent embassy in Syria under previous U.S. administrations. “Syria remains the most significant regional concern by a matter of historical importance. Russia remains the best regional partner and proponent of peace, stability and national security,” he said.\n“We will extend long-term cooperation to achieve a situation of stability and of security that cannot be sustained by our military alone.”\n']
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17
http://www.reuters.com/article/us-usa-trump-fed-idUSKBN17E2U9
http://www.reuters.com/article/us-usa-trump-fed-idUSKBN17E2U9
Trump won’t rule out second Yellen term, signaling drift to the mainstream
['Howard Schneider']
01-01-2021
reuters.com
success_wayback
gen
180,747
[0.949999988079071]
['WASHINGTON (Reuters) - U.S. President Donald Trump told reporters on Monday he would consider taking his own successor to serve out his second term and indicated he might resist when it comes to a potential appointment to replace Janet Yellen, a veteran executive who is under investigation for possible ties to Russia, CNBC reported.\nFILE PHOTO: U.S. President Donald Trump meets with Chinese President Xi Jinping in the Roosevelt Room of the White House in Washington, U.S., January 1, 2019. REUTERS/Jonathan Ernst/File Photo\nThe potential replacement for Yellen, vice chair of the Federal Reserve, is not expected to include the influential Summers, according to the Wall Street Journal, which reported excerpts of his remarks that had not been published.\nIn his first address to the Senate, Trump said of Yellen, “I love her as a friend, but I have not decided if I will take her to serve out this second term.”\nThe next president, who will take office on Feb. 20, will also need Congress to agree on whether to create a full-time senator and district tax panel after the U.S. Senate elects a new chief executive in April.\nU.S. Federal Reserve Board Chair Janet Yellen is pictured after she speaks during the swearing-in ceremony for the United States Federal Reserve Bank of Atlanta during the opening of the annual meeting of the Federal Reserve in Washington, U.S., January 1, 2019. REUTERS/Kevin Lamarque\nSources familiar with the deliberations of Trump’s nominee for Treasury Secretary have said that publicly is not a good idea, according to CNBC. He was largely endorsed by Democrats, and the Senate confirmed him in September and announced it in November.\nTrump, who has insisted he has not ruled out filling Yellen’s spot, reiterated his stance of letting a successor work for him until the United States has a better understanding of his views on policies.\nHe has repeatedly characterized the Fed as a lender and investor but not a regulator. Fed chair Jerome Powell repeatedly advocated for Fed independence, to be limited to a single examination in Fed-lobbied audits. He often has said the independence is in the interest of the Trump administration and would not interfere with the Fed’s independence.\nLast week, Trump was seen to be working on a partial repeal of the U.S. tax code. The president’s advisers have discussed whether to want the bulk of their policy ideas to come from inside the White House, such as tax changes, to boost exports.\nThe Wall Street Journal had reported that Trump had contacted Yellen.\nYellen’s status as the next chair would be confirmed by the U.S. Senate in April, and she is expected to be confirmed by the full Senate.\nReuters could not independently verify the contents of Trump’s remarks.\nSources familiar with the discussions of the Fed nominee’s private life said his brief on Israel under U.S. and European sanctions signaled a willingness by the Trump administration to aggressively pursue bilateral relationships and foreign investments.\n“I think he’s got a problem. He’s a drug addict,” said one source familiar with Trump’s thinking.\nA senior source close to the transition confirmed the president had discussed other potential, unincorporated candidates. Trump has pledged to have a three-term agenda in his second term but would still retain an executive branch job.\nThe Trump family is important for Yellen and makes her possible nominee to take the Treasury Department job.\nTrump is still expected to weigh in on this issue, according to a person familiar with his thinking. But he also thinks the Fed is fine.\nYellen’s confirmation by the Senate is being watched by traders and traders. Her nomination would require the Senate’s approval of all the high-profile Fed nominees but a narrow majority. If approved, it would likely include the former governor of Kansas and the chairman of the U.S. International Monetary Fund.\nAsked for comment, a Treasury spokesman said: “Yellen’s no longer a member of our administrative team.”\nMoody’s Investors Service also said on Monday that the agency had “extended its review of the Goldman Sachs transaction to assess whether this type of transaction fails to meet the requirements of our investment-grade rating.”\n']
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18
http://www.reuters.com/article/us-tesla-board-idUSKBN17E23Z
http://www.reuters.com/article/us-tesla-board-idUSKBN17E23Z
Tesla’s Musk tells disgruntled shareholders: Buy Ford
['Alexandria Sage and Nick Carey']
01-01-2021
reuters.com
success_wayback
gen
180,748
[0.949999988079071]
['SAN FRANCISCO (Reuters) - Tesla Motors’ (TSLA.O) Chief Executive Elon Musk told the shareholders who voted for him at an emergency meeting in late November that his critics were barking up the wrong tree, and that he expects new regulations to happen soon.\nFILE PHOTO: The Tesla Motor Company co-founder Elon Musk is seen during an interview with Reuters in New York, U.S., May 18, 2018. REUTERS/Lucas Jackson/File Photo\nCEO Musk issued a memo in November to staffers saying his plan to step down abruptly from his job as chief executive of Tesla was working and he was not concerned about changing the direction of his business to move into other areas.\nOn Wednesday, he again reiterated that his plan is to live his corporate life in his headquarters in Santa Clara, California.\nFiling an audit, he said, would help preserve what is in his name and provide new rules for shareholders, and he appeared to indicate that one of the key areas to watch for is regulation.\nA person close to the group of shareholders speaking on condition of anonymity said the memo was released out of respect for shareholders’ privacy.\n“We’re excited by the success of the move,” wrote Musk in his memo.\nSince taking the helm at Tesla in 2013, Musk has been running an investment company Tesla Gigafactory, and became CEO in January 2016 in what his company said was his first major executive change since he took the reins.\nTesla shares have risen more than 9 percent since the meeting.\nHe referred to a lawyer for one of the main shareholders in his memo, Gordon Shook of American Funds, who has argued against Musk’s buyout plan at times.\n“We’re not going to chase facts and have lawyers working for us on an issue that shouldn’t have been here,” Musk wrote in the memo.\nBilled as a “how-to” explainer, Musk posted an audited audit finding that many of the critics had made complaints about the company, and that he believed many were “disappointed” by the audit.\nHe had previously said the audit would give shareholders a “call for review.”\nThe company has been grappling with high costs and a line of competition from Amazon.com Inc (AMZN.O) and new competitors and won approval to start building electric cars at its Fremont, California factory, which will cost $150,000 a battery car and get battery-grade fuel.\n(This version of the story fixes last paragraph)\n']
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19
http://www.reuters.com/article/us-ual-passenger-idUSKBN17E1GN
http://www.reuters.com/article/us-ual-passenger-idUSKBN17E1GN
United passenger launches legal action over forceful removal
['Alana Wise']
01-01-2021
reuters.com
success_wayback
gen
180,749
[0.949999988079071]
['(Reuters) - United Airlines sued a Phoenix-based executive on Wednesday, claiming the tactics the pilot utilized in forcing emergency landing went against his Constitution and violated the rights of the four main passengers and crew in the crash of Flight 1549, which killed 145 people.\nAt issue was a motion filed in federal court in Arizona that said United takes a constitutional and civil liberties claim filed against three unnamed employees of the airline.\nUnited said in the lawsuit that the civil complaint violated the rights of the four passengers, including civil rights leader Gloria Steinem, as well as their equal protection claims and an injunction.\n“The plaintiffs’ claims of civil right and equal protection violations have been resolved with this lawsuit,” United spokeswoman Jenelle Fleishman said.\nA hearing on the suit could be held as early as January. United noted that it was settled with World Medical Treatment and Healthcare, and that the family of the victims requested the delay of the trial.\nThat lawsuit claims United sought to violate the rights of four passengers: Amber Frey, Dena Rivers, Lina Bass and Kristy Sirmak. The plaintiffs want at least $200 million in damages and a temporary restraining order to halt the airline’s discriminatory reaction.\nCustomers for United and Southwest Airlines, which operate thousands of flights each day, have criticized the airline in the past for driving a wedge between their passengers and its employees.\nOn Thursday, Southwest sued United airlines in U.S. District Court for the Northern District of Texas for breaking a pre-existing practice of turning calls for passengers to disembark aircraft into lawful complaints.\nA regulation that governs the use of emergency landing, otherwise known as “smashing waves,” has been used to intimidate the most experienced passengers, forcing them to retreat into flight simulators, they said.\nUnited was initially granted permission to use the excess use for medical treatment on freighters with pilot registration that may have been turned off, according to the suit. The pilots were set to fly for 10 days after the crash, and that had already begun.\nThe airline never made the request for voluntary evacuations.\nSouthwest represents nearly 2,000 passengers flying to and from United and 800 to Southwest, according to FAA records.\n']
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20
http://www.reuters.com/article/us-usa-sec-commissioner-idUSKBN17E2XC?il=0
http://www.reuters.com/article/us-usa-sec-commissioner-idUSKBN17E2XC?il=0
Senator Warren aide said to be in running for SEC job: sources
['Sarah N. Lynch and Svea Herbst-Bayliss']
01-01-2021
reuters.com
success_wayback
gen
180,751
[0.949999988079071]
['Warren decries the escalating market attention on rival investment banks, via an email exchange with an aide of a top regulator on Friday, as Republican lawmaker Janice Jackson announced her resignation from Congress.\nUSA Today reported last month that Warren, 49, had jumped into the New York-based investment banking service Morgan Stanley, which had hired a data analytics firm to help it develop a “red hot” talent pipeline.\nBut Warren\'s departure had just been made public by Reuters on Friday. She released a memo sent on Monday, months before her last day in the Senate.\nIt outlined several reasons why Warren needed to leave Congress as she juggles family and business, the Wall Street Journal reported on Friday.\nWeeks before her tenure with Morgan Stanley was to end, Warren said in the memo that an executive at New York-based JPMorgan Chase \'is an ideal candidate for the top regulator spot. But the JPMorgan executive also works in a tax-exempt special interest [special purpose vehicle], rather than a regulated structure, that does not “astound” individuals in Congress.\n"We have identified a select few qualified candidates who would be an excellent choice to be the next Chairman of the Federal Reserve and I am very happy that we have identified them," Warren wrote.\nRepresentative Tom Rooney, a member of the Financial Services Committee, also emailed Warren her letter.\nTrump\'s nomination of Warren as the next Chairman of the U.S. Securities and Exchange Commission, likely to be announced on Jan. 10, was also leaked ahead of its hearing in the Senate, according to media reports at the time.\nRepublicans last year demanded that Warren be named to replace Warren as the new Chair of the Federal Reserve.\nWarren\'s husband, actor Warren Buffet, is a member of the investment banking board of the Omaha, Nebraska-based bank, and she became a senator, as will her four children.\nTrump\'s nomination of Warren, who is well-known in Washington as one of his top campaign advisers, as the next Chairman of the Federal Reserve is a likely signal of his intention to promote Warren on Wall Street after in September when he nominated Supreme Court nominee Merrick Garland to replace her.\nWarren had been nominated to head the Fed by Democratic Senator Charles Schumer, who suggested he was \'for real. He just knows what it\'s like to be in the House of Representatives.\'\nThe Financial Services Committee members charged that Warren wanted to move on from the nomination.\n"She\'s certainly working hard at this," the committee member said.\nBut other committee members questioned Warren\'s independence and said it would be wrong to influence her nomination.\n(Reporting by Sarah N. Lynch; Editing by Alan Crosby)\n']
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21
http://www.reuters.com/article/us-goldman-sachs-bias-lawsuit-idUSKBN17E2ZF?il=0
http://www.reuters.com/article/us-goldman-sachs-bias-lawsuit-idUSKBN17E2ZF?il=0
U.S. judge rejects Goldman Sachs’ bid to narrow gender bias lawsuit
['Jonathan Stempel']
01-01-2021
reuters.com
success_wayback
gen
180,752
[0.949999988079071]
['Jan 1 (Reuters) - A federal judge on Thursday said he would not order Goldman Sachs Group Inc to halt litigation over allegations that its biggest investment bank knowingly sponsored discriminatory actions that contributed to people’s deaths and disabilities.\nU.S. District Judge Eric Finerman in Manhattan on Thursday told Goldman and others to end the litigation, noting that he had earlier opened up a lawsuit on behalf of 9/11 victims and others who are unable to access funds transferred by Goldman.\n“I think we can get to a basis where Mr. Goldman can go forward with the litigation,” Finerman said.\nGoldman had been fined billions of dollars after admitting to a supposed role in condoning and encouraging suicide, although it denied it contributed to those people’s deaths.\nIn December, Finerman reduced one of Goldman’s biggest antitrust violations, one of the largest criminal probes ever conducted by the Justice Department. Goldman also paid a $212 million fine and agreed to a class-action settlement.\nThe judge’s action has put the matter in the hands of two other lawyers who have joined the class-action lawsuits. Goldman may have to counter, even if it loses, his reasoning said.\nA Goldman spokesman declined to comment.\nProsecutors said in November that Goldman was liable to pay $217 million and raised an additional $141 million in legal fees after rejecting a motion by a second lawyer who was not a shareholder.\nSeparately, the Department of Justice on Thursday submitted a request to the Securities and Exchange Commission to suspend enforcement of a 2008 settlement related to advisory fees paid to Goldman. The department is also seeking $9 million in restitution.\nThe case is In re: Zero Year MSD 1008 LLC v Goldman Sachs & Co, U.S. District Court, Southern District of New York, No. 12-0506.\n']
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22
http://www.reuters.com/article/us-usa-biofuels-icahn-exclusive-idUSKBN17E0D6?il=0
http://www.reuters.com/article/us-usa-biofuels-icahn-exclusive-idUSKBN17E0D6?il=0
Exclusive: Inside edge - Trump advisor Icahn’s big bet against biofuels credits
['Chris Prentice and Jarrett Renshaw']
01-01-2021
reuters.com
success_wayback
gen
180,753
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['NEW YORK (Reuters) - Carl Icahn’s real-money hedge fund and a still firm believer in biomass power plants and wind, grain and solar are probably the most famous vegetables on the planet, but the one worth to be disappointed about is the slightest decline in biofuels prices, according to industry insiders and U.S. House members.\nFILE PHOTO: Evacuated shipping containers run off at New Jersey A.J. Shoemaker shipping yard during Hurricane Sandy in Hoboken, New Jersey, U.S., October 6, 2018. REUTERS/Brendan McDermid/File Photo\nWhile the Paris Climate Agreement could threaten a deal to limit greenhouse gas emissions in exchange for them curbing U.S. imports of oil and natural gas, new accusations of global warming-related emissions are unnerving both business and the consumers who buy products that are produced by the plants that use wood pulp as fuel.\n“I’m skeptical of it,” said Bruce James, the former head of energy investment group Icahn Enterprises LP. “It’s just really new stuff. It really raises the idea that it’s at the margin of anything going forward.”\nTo understand what makes Icahn’s bullish bet against biomass plants stand out, it requires first a look at the biofuels he maintains he can count on. He’s also a professed believer in other popular alternatives such as artificial sweeteners such as sucralose.\nSales of artificial sweeteners, such as sucralose, have fallen by 35 percent since 2008 and 8 percent since 2009, according to Allen & Co.\nIf any other sort of sweetener are to gain substantial traction at the U.S. ethanol industry, Icahn believes his bets will have to match those of competitors.\nHe said he used a biomass biomass producer like George Orbach’s Mix and Sinoco to winnow down his positions, but said if he invested in him it would boost his profits.\n“He does appear a bit riskier and much more erratic than some of the other investors he’s talked to,” said Jim Cramer, chief investment officer of the Action Alerts PLUS charity, in a recent telephone interview.\nHe can also count on his pet food position to have some permanent impact on his profits, added Cramer.\nFive of the 10 most popular food companies in the U.S. industry expect to see growth in their stores and on their net income.\nSidewalks, timber, natural gas and oil prices are currently far less expensive than biofuels due to the variety of crops they eat. But the uncertainty surrounding the biofuels industry could also hamper the market’s growth, Cramer added.\nHe said the marketing of each product would take on a different intensity and that the traditional stocks or, even harder, convenience stores can’t compete with the millions of shopping center and gas stations that use wood pulp and other alternatives to store their food and energy.\nX fuel producer Zoetis Inc will buy a company called Ethicon for $1.1 billion, which will boost the company’s exposure to many sources of biomass feedstock but also accelerates the acquisition of smaller companies.\n“When you buy a company, you know that they provide and incentivize the sustainable practices,” Cramer said. “You have to evaluate whether you are getting an inorganic element.”\n']
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23
http://www.reuters.com/article/us-gm-greenlight-board-idUSKBN17E1P7?il=0
http://www.reuters.com/article/us-gm-greenlight-board-idUSKBN17E1P7?il=0
In proxy fight, Greenlight says GM misrepresented its stock plan
['Nick Carey and Svea Herbst-Bayliss']
01-01-2021
reuters.com
success_wayback
gen
180,754
[0.949999988079071]
["(Reuters) - Greenlight Capital LP (GXP.N) sued General Motors Co (GM.N) over a draft plan to allow shareholders to reject the company’s plan to increase its stake in the Detroit automaker, saying the hedge fund misled investors into believing it was backing away from the merger last month.\nFILE PHOTO: A General Motors logo is seen in a shop in Detroit, Michigan March 2, 2013. REUTERS/Paul Hackett/File Photo\nIn its document, Greenlight said a system of expenses offered by General Motors under its previous plan to boost its stake in the automaker would change without the company agreeing to negotiate. The filing is the most explicit in terms of any proposal on which GM has a major stake.\nGreenlight, which filed the lawsuit in Los Angeles last week, said GM's draft proposal, which it hopes will include the merger, doesn’t follow other proposals it has offered to other investors, including a dividend deal, bond offering and a stock offering.\nThe plan would mean raising GM’s stake in GM by about 13 percent to about $210 billion, according to Greenlight’s filing, which was made public on Friday.\nGreenlight said GM’s plan was “wrong, misleading and false,” including saying the company could increase its stake to as much as 32 percent without union negotiations taking place, letters written by GM stating the company could change its plan if it had not agreed to certain conditions and unspecified changes.\nThe filing comes weeks after the Detroit-based automaker reiterated that it won’t negotiate about a proposed sale of Cadillac and GMC.\nGM said it had retained a minority investor, which put its stake near 5 percent of GM after voting on the plan this month. It is also seeking to diversify through non-revenue-based businesses, including growth in its powertrain operations.\nGM, which is also discussing possible tie-ups with banking giant JPMorgan Chase & Co (JPM.N) and BMW AG (BMWG.DE), declined to comment.\nThe lawsuit comes two weeks after it launched a bid by activist investor Elliott Management to boost its stake in GM.\nThe fund also filed a warning with GE in November that a sale of the company could take place before an investor’s vote on a new board.\nGreenlight said the document doesn’t spell out that GE would buy GM.\n“GD wants to undermine GM’s acquisition record because it believes GE will be able to retain its leadership and make GM more competitive,” according to the complaint.\nGAM, which has previously said it’s in discussions with investment banks about a possible sale of the company, said it hasn’t received a green light yet from GM. GM declined to comment on its efforts to reach a sale.\nThe suit, which seeks unspecified damages, alleges that GM ignored or misinformed investors before settling on a new board. It is seeking to reach a settlement with GM.\nGreenlight’s filing comes as GM is considering several strategies to bolster its financial position.\nThe Michigan-based company said last week it is devoting a third of its shareholder money this year to equity management and employee training. The last $12.5 billion that the company pledged, was spent on new equity vehicles, known as “reverse debt.”\n"]
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24
http://www.reuters.com/article/us-usa-trump-currency-idUSKBN17E2L8?il=0
http://www.reuters.com/article/us-usa-trump-currency-idUSKBN17E2L8?il=0
Trump backs away from labeling China a currency manipulator
['David Lawder']
01-01-2021
reuters.com
success_wayback
gen
180,755
[0.949999988079071]
['FILE PHOTO: U.S. President Donald Trump speaks at the State Department in Washington, U.S., October 23, 2017. REUTERS/Larry Downing/File Photo\nWASHINGTON (Reuters) - U.S. President Donald Trump appeared to back away from a vow that China must contain its currency manipulation to help reverse its trade relationship, but he was still weighing further action.\n“We’re not going to pursue any strategy that is going to be creating, right now, a dollar devaluation in China,” White House spokesman Hogan Gidley told reporters.\nThe two countries, which have been locked in trade war over everything from the yuan to tariffs to the recent flood of migrants attempting to enter China, still disagree on the rules or mechanisms that would allow China to affect the prices of goods manufactured in the United States.\nGidley said Trump “will continue to pursue the policies as they evolve.”\nIn his January 24 Oval Office interview, Trump appeared to back away from making broad trade protectionism a condition of approval for his 2017 National Economic Strategy, Trump’s blueprint for getting America’s trade-related infrastructure investments in order.\nThat response, sources familiar with the meeting told Reuters, had stoked speculation the trade war with China may be over. But Gidley also ruled out rekindling discussions.\nChinese Vice Foreign Minister Yang Jiechi told reporters earlier on Tuesday the two sides remained focused on their “work on the completion of the Economic Recovery and Fiscal Protection Plan,” Trump’s blueprint for job creation, investment and growth in the United States and elsewhere.\n“In that document, we said we want a clean slate, a strong middle class, our exports to the world and our market and our manufacturing,” Gidley said in a press briefing.\nHe added: “We’re going to speak to the sources and the claimants, and the very last thing we want to do is hit someone so hard you can’t take them as customers.”\nDespite Trump’s looming tariffs on Chinese goods, economists say it is still too early to see any impact on economic growth and credit across China. Chinese officials have said global trade tensions still pose a big threat to China’s growth and posed a major hurdle for the country’s economic growth.\nStill, the dollar’s slip is continuing in part because of greater uncertainty about European negotiations with its creditors.\nTrump said he would decide later on whether Europe will hold a bilateral trade meeting in Brussels after talks in mid-January with the heads of EU governments.\nAt an event on Tuesday evening with European and U.S. officials, Trump reiterated his determination to protect U.S. farmers and workers from currency manipulation, a sentiment shared by President Barack Obama.\nAsked by reporters at the time whether he would pursue a trade war with China, Trump responded, “I don’t know if I will. There are, but nothing to talk about right now.”\n']
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25
http://www.reuters.com/article/us-brazil-corruption-elections-idUSKBN17E2XO?il=0
http://www.reuters.com/article/us-brazil-corruption-elections-idUSKBN17E2XO?il=0
Brazil graft probe sparks hopes of change, fears of chaos
['Paulo Prada']
01-01-2021
reuters.com
success_wayback
gen
180,756
[0.949999988079071]
["Brazilian Finance Minister Jan Hudec speaks during a meeting with Foreign Minister Marcelo Franco at Brasilia's presidential palace in Brasilia, Brazil, November 4, 2017. REUTERS/Ueslei Marcelino\nBRASILIA (Reuters) - Brazil’s push to fight graft and root out corruption weighed heavily on its political and stock markets on Thursday, with investors hoping for constructive outcomes to avoid a messy and political showdown.\nThe investigation by Brazil’s economic and health ministry into the whereabouts of 16 million-dollar-plus gifts and loans from the central bank that swept through the political system in the late 1990s saw politicians from industry to President Michel Temer’s wife squabble, and yet to be revealed to the public.\nWhile many figures such as Temer himself has never been publicly questioned and for whom the probes may simply make a case, there’s also the possibility that the probe could send a different message.\nTemer is known to enjoy regular political dinners from which his gifts were funded by the newly formed so-called Special Projects Family (SPF), or “Just Daughters”, in which he’s thought to be benefiting.\n“[As far as) what the investigation does is, it shows we need to fight corruption as a way to bring awareness,” said Geraldo Alckmin, head of asset manager TF1 and an ally of Temer.\nAn SSF structure refers to a council that determines the terms of contracts with entities that orchestrate the privatization or subsidy programs, while keeping costs down by giving up certain assets.\nTemer, who has found himself using the same institution to dodge corruption charges filed by the Brazil’s National Anti-Corruption Commission, has refused to provide details of any of the alleged slush funds.\nLawmakers, however, have so far claimed the scandal has no connection to their campaign finance spending, though Morado said the investigation was “scandal-free”.\nREGIONAL REASSURANCE\nFinancial markets also remain wary of the trend to unsettle the delicate balance that Brazil’s leftist government, the Workers’ Party (PT) and the Congress have in place.\nIf corruption-related scandals are spread across Brazil, then events could jolt the international trade: micro, small and medium-sized businesses would be swamped with new financing needs in Brazil and slow growth in the wider region.\nSchweig & Co analyst Lanny Sims said he saw no problem with the investigation.\n“At this point, the issues go so far further and further apart in Brazil that you could be tempted to accuse Brazil of abandoning the WTO and dumping too many goods on the market and hurting growth and investment,” Sims said.\nWhile Temer’s term has been marred by scandals and revelations, he is making a good impression at the federal and state levels, cracking down on public financing networks at the top and sidelining the powerful state governments that control the economy.\nAnother sector with some industry-related activity is pharmaceutical company Vale SA, another likely target.\nBrazil’s former Finance Minister José Pessoa, who quit in September after being indicted on 17 counts of money laundering and tax evasion, has vowed to investigate and be “fair” in his return to the right-wing party.\nPessoa has been living off office money while on a leave of absence, while state Governor Luiz Antonio Acevedo said he plans to resign by the end of January due to “ongoing and unalterable conflicts” over political issues.\nAnd corruption is still a big part of Temer’s conservative government, which ruled Brazil until 2015.\nMany see an ill-conceived crackdown on corruption as more of a wish for a fresh start and a chance to polish political skills.\nMeanwhile, Temer is expected to reach a consensus on a formal order on an overhaul of the economy that would resolve the corruption issue and give state governors more power.\n“Nobody is seeing any help. That’s not to say everything will go smoothly,” Fausto Obadilla, head of the Brazilian investment bank Grupo Econômico ottiziario de Primero, told Reuters.\nTemer will be in Brasilia on Thursday to attend a conference on next week’s 23rd Congress of Brazil’s leftist-led Workers’ Party.\n"]
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26
http://www.reuters.com/article/us-burgerking-advertisement-idUSKBN17E2UP?il=0
http://www.reuters.com/article/us-burgerking-advertisement-idUSKBN17E2UP?il=0
Burger King debuts Whopper ad that triggers Google Home devices
['Angela Moon']
01-01-2021
reuters.com
success_wayback
gen
180,758
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['(Reuters) - Burger King Corp’s (BKW.N) shares rose for a second straight day, buoyed by stronger-than-expected quarterly results.\nThe logo of Burger King is seen on a wall at the restaurant in San Francisco, California in this file photo taken November 25, 2014. REUTERS/Robert Galbraith/Files\nIn an effort to revive its traditional brick-and-mortar ways, Burger King tested a Whopper ad on the home of a beloved TV show called “Black-ish.” To the TV screen, the slogan: “Whopper sandwich.”\nIn a conference call on Wednesday, Chief Executive Indra Nooyi said she would like to push Burger King to use home integration even more.\n“We’re living in two worlds. We’re looking at home integration and home integration is where home integration is really important,” Nooyi said.\nThe move is part of Burger King’s efforts to drive its global advertising revenue by building new retail locations and transforming its outlets into marketplaces for food and value items.\n“This isn’t just a test,” said Chanel Desmarais, portfolio manager at Bespoke Investment Group. “It’s way larger scale scale than what we’ve been doing before.”\nDuring the full earnings call, Burger King shares were up 2.6 percent at $113.14 in afternoon trading on the New York Stock Exchange.\nThe U.S. fast-food chain is also betting it has new ways to drive sales. Nooyi said in the conference call that she was looking at vertical markets like consumer products and pet food.\nShe did not elaborate on how the new products would play into that strategy.\n“We look at vertical markets, and that was part of our DNA when we came out with Burger King,” Nooyi said.\nThe maker of Cheez-It and fries said it is on track to sell a “huge” amount of its own ready-to-eat burgers by 2022.\nProfit surged 71 percent on Tuesday on sales of the company’s breakfast cereal Cracker Jack and Looney Tunes. At the same time, shares in its Ben & Jerry’s and Jimmy Choo brands jumped.\nTough Sell Week\nCricket briefly took the spotlight on Tuesday when its parent, China’s Shandong Shandong Group, said it would exit the beverage business in an effort to carve out its own space in markets like consumer goods.\nBurger King was up 1.7 percent, up for a second straight day, when that company reported better-than-expected results.\nHowever, Food Network said on Tuesday that its highest-performing businesses would cease operations under the new oversight structure following a class action lawsuit.\nLast week, Food Network posted fourth-quarter earnings that fell short of Wall Street analysts’ estimates as consumers ate up more calories on its breakfast and snacks shows.\n']
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27
http://www.reuters.com/article/us-berkshire-hatha-wells-fargo-idUSKBN17E2S6?il=0
http://www.reuters.com/article/us-berkshire-hatha-wells-fargo-idUSKBN17E2S6?il=0
Berkshire cuts Wells Fargo stake, pulls Fed application
['Jonathan Stempel']
01-01-2021
reuters.com
success_wayback
gen
180,759
[0.949999988079071]
['(Reuters) - Warren Buffett’s Berkshire Hathaway Inc cut its stake in Wells Fargo & Co and withdrew an application for a preliminary trial of a critical piece of a $13 billion merger deal struck three years ago.\nThe Berkshire logo is seen at its headquarters in Omaha, Nebraska, U.S., October 22, 2017. REUTERS/Nick Meyer\nBuffett’s Berkshire Hathaway announced in October that it planned to divest 74.3 million shares in Wells Fargo, which Berkshire plans to sell or split up into smaller, specialized units, by acquiring $7.3 billion in assets and sending Wells Fargo stock to its unit’s shareholders.\nBuffett had expressed confidence that a sale of Wells Fargo’s securities, which sparked the Bear Stearns shareholder lawsuit, would secure a needed regulatory approval before bringing litigation.\nThe decision represented the first time an insurer or other bondholder has sought regulatory approval for a merger that “undervalues or dilutes” the health of an industry or firm and how it applies the rules to let lower rates.\nBerkshire, which will receive a minimum 35 percent of Wells Fargo’s shares and no revenue, pledged to pursue a review of the merger, which it expects to close early in 2019.\nIn a separate matter, Berkshire said on Monday it plans to sell its portion of its stake in AT&T Inc and its $93 billion stake in New Century Financial Services Inc through “pre-market” options.\nBuffett said the activist investor could pursue another option that would allow him to take advantage of the company’s current market value.\n“This process takes time. It will not fix the company’s strategic problems,” he said.\nBerkshire, which owns stakes in Ford Motor Co and General Motors Co, said it is in negotiations with AT&T about merging with Verizon Communications.\n“They’re quite aware of our plans and I think they recognize that there is some overlap that we will have with AT&T and other insurers,” Berkshire Chief Executive Doug Oberhelman said in a telephone interview.\nU.S. health insurers have faced scrutiny in recent years as a group of large companies have tried to combine their own businesses to help avoid the death penalty.\nOver the past three years, Wells Fargo has received approval from regulators to combine with Vectura Financial Corp to create an insurance company that includes a mortgage broker and a global reinsurance and reinsurance company.\nThe case is AT&T Inc v. Berkshire Hathaway Inc Inc, U.S. District Court, Southern District of New York, No. 03-2166.\n']
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28
http://www.reuters.com/article/us-brazil-economy-rates-idUSKBN17E0DI?il=0
http://www.reuters.com/article/us-brazil-economy-rates-idUSKBN17E0DI?il=0
Brazil makes biggest rate cut since 2009 to fire up economy
['Alonso Soto and Silvio Cascione']
01-01-2021
reuters.com
success_wayback
gen
180,760
[0.949999988079071]
['BRASILIA/SAO PAULO (Reuters) - The Brazilian government cut interest rates by a whopping 10 basis points on Friday to keep a lid on a still substantial tumbling real rate despite convincing signs inflation has bottomed out and the banking sector is safe from a liquidity crunch.\nFILE PHOTO: A Brazilian farmer holds a handful of goats near the live auction hot spot at the winery, Swaka Commercial Squared, on December 11, 2015 in Sao Paulo, Brazil. REUTERS/Paulo Whitaker/File Photo\nBears, stoked by news that China would sign a record $200 billion bilateral investment deal with Brazil in February, are loath to change interest rates. “I am not comfortable with the rationale on negative or accelerating growth unless the pace is steady. As it is at the moment, it doesn’t look too promising,” said Rodrigo Carvalho, chief economist for investment management fund Vivendi, which owns 86 percent of Banco Espirito Santo SA.\nLower interest rates stand in stark contrast to those used to peg Brazil’s real over the fiscal cliff in 2012, in which it lost nearly 9 percent of its value after cuts in backstop funds tumbled in the process.\nThe real dropped more than 8 percent for the first half of that year as a barrage of protests, mass protests and disarray in Brazil’s banking system sent authorities scrambling to contain losses and consumers feeling the squeeze more acutely. The peso weakened more than 6 percent, a drop that marked the country’s lowest on record.\nThe bank governor cautioned that reaching a price level would still be a vital step to calm the pressure on financial markets. But he expects pressure to ease more quickly this year amid sluggish economic growth and the prospect of more government spending on investment.\nIn Wednesday’s meeting of the Federal Council of Economic Activity, the Fed cut its benchmark interest rate by a quarter point in response to rising speculation a slowdown in economic growth could be at hand.\nU.S. Treasury Secretary Steven Mnuchin and Brazilian Finance Minister Henrique Meirelles pledged to keep interest rates low as long as they maintain key monetary policy measures “with a strong and clear current stance,” while Mexican President Michel Temer said Wednesday he would study the level of the 9.50 percent primary corporate credit rate, which adjusts the price of goods in the country.\nUnder the dual agreements, Brazilian banks lend to other countries, such as China and India, to mitigate risks to their deposits from the slide in the real’s value.\nBut many emerging markets are in a liquidity crunch as investors remain uncertain about the outlook for their currency and, in turn, a possible contraction in their industrial sectors.\n“Buoyed by the data of rising inflation and the continued pick-up in economic growth, Brazil is in a broader base,” said Rodrigo Chouinard, economist for UniCredit SA.\nThe Brazilian government will hold a ministerial meeting on Monday to decide on Thursday what measures, if any, it will add to inflationary pressures in an effort to fend off the sharp pullback that has left Brazil’s currency unit under new government control.\nBanks are under pressure to stabilize their balance sheets and raise fresh capital to support lending. Monday’s statement will provide further hints that banks will be more cautious than in the past.\nBrazilian Economy Minister Bruno Tardelli cited “some signs of stabilizing,” but said the pace of recovery would probably pick up faster than expected.\n“Some cities are running overcapacity,” he said, referring to roads across Brazil, major ports and supply networks already under stress. “Things will continue to deteriorate in the coming weeks, but I think it won’t be a significant issue in terms of materialization in the medium term.”\n']
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http://www.reuters.com/article/us-mideast-crisis-syria-un-vote-idUSKBN17E2LK?il=0
http://www.reuters.com/article/us-mideast-crisis-syria-un-vote-idUSKBN17E2LK?il=0
Russia blocks U.N. Security Council condemnation of Syria attack
['Michelle Nichols']
01-01-2021
reuters.com
success_wayback
gen
180,761
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['UNITED NATIONS (Reuters) - Russia on Monday said it would block U.N. Security Council condemnation of a Syrian air and missile attack that killed more than 20 people, a day after U.S. President Donald Trump intervened to condemn the attack.\nA woman can be seen through a glass door towards the Russian Foreign Ministry on the second floor of the U.N. headquarters in New York January 1, 2017. REUTERS/Mike Segar\nRussia’s foreign ministry said the United Nations’ announcement on Sunday afternoon did not violate U.N. Security Council Resolution 5 (2018) 405, which directs the implementation of a “legal and operational framework for an implementation of a military action against the civilian population in Syria.”\nIn a statement, the Kremlin said Russia had expressed concern about “the possibility of escalation in its ground-based Syria air campaign”.\n“The idea that the Security Council could impose a negative response on Russia, was dangerous,” the ministry said. “It would be wrong to divert attention from what happened in Syria.”\nTrump last week called on Russia to accept the Chemical Weapons Convention and impose “real and substantial” sanctions against Assad for his military assault on the Syrian city of Aleppo. Moscow has long called for a third U.N. vote that would impose similar measures on Assad’s ally Iran.\nIn a phone call with Turkish President Tayyip Erdogan, Trump congratulated Erdogan on the military strike, which killed dozens of civilians. The U.S. plans to impose sanctions on Putin, a NATO ally, for “wanton aggression, terrorism and illegal use of force against sovereign states of the Central Asian region,” according to Trump’s spokesman, Miller.\nMoscow said Tillerson assured the Kremlin that the Council would listen to the rebels, not oust Assad. Trump later reaffirmed Moscow’s stand that Assad must leave power in the face of opposition.\n“We welcome what has occurred and we believe that they (the United States) will hold out against it,” U.S. Secretary of State Rex Tillerson said.\nSome anti-Assad activists, who have warned of an exodus of civilians, criticised the Council’s decision.\n“What is happening in Syria is an atrocity,” said Syrian activist Mohammad Ayoub. “The only way to end the violence is to overthrow Assad.”\nThe Syrian government claimed responsibility for the attack. U.N. Special Envoy to Syria Antony Blinken said the claim was based on a single, videotaped video from a report by witnesses. He said the Islamic State group claimed responsibility.\n“If this was a rocket launched from the province of Homs or a remote area of Syria, the allegation must be confirmed,” Blinken said in an emailed statement. “Sectarian insurgents in Syria have been there for a long time.”\n']
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30
http://www.reuters.com/article/us-northkorea-nuclear-idUSKBN17E0B6?il=0
http://www.reuters.com/article/us-northkorea-nuclear-idUSKBN17E0B6?il=0
China’s Xi urges peaceful resolution of North Korea tension in call with Trump
['Michael Martina and Jeff Mason']
01-01-2021
reuters.com
success_wayback
gen
180,762
[0.949999988079071]
["FILE PHOTO: U.S. President Donald Trump's son-in-law Jared Kushner speaks during a recent trip to China, the Great Wall of China, at the Great Hall of the People in Beijing, China December 8, 2017. REUTERS/Kim Kyung-Hoon/File Photo\nBEIJING (Reuters) - President Donald Trump will present China with a report on North Korea’s nuclear and missile development and any efforts the two countries could make to maintain regional stability, State Councilor Yang Jiechi said in a lengthy call on Wednesday.\nChina has said the North Korean nuclear and missile programs need to be halted to curb their proliferation and to enable economic and military pressure.\nIn a call with Chinese President Xi Jinping, Yang said a reconciliation between the two countries should occur “within or outside of talks”, and he reiterated China’s stand in support of North Korea’s “right to develop its nuclear and missile programs.”\nWhite House officials said on Tuesday the White House would be dropping plans to attend the Nov. 30 summit between U.S. President Donald Trump and his Chinese counterpart, Xi Jinping, to ease tension between the world’s two biggest economies, which have been at war since North Korea launched a nuclear missile in December 2016.\nYang told the six-nation Leaders’ Meeting in China that his proposal for a hotline between the two countries was “extraordinarily welcomed by the U.S. side.”\n“I would like to express our gratitude to the Chief of State for inviting us to consider this summit in the framework of the dialogue between the United States and China,” he said.\nYang said “at a comprehensive pace, measures can be taken to address this contentious issue, including the implementation of conditions and credible peaceful arrangements at all levels of the negotiating process.”\nTrump is planning to meet Xi in Singapore on Sunday.\nYang declined to answer questions about Washington’s decision to drop plans to take part in the G20 Summit in Hamburg, Germany, scheduled for March 7-9.\n"]
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31
http://www.reuters.com/article/us-whole-foods-utd-natural-fds-jana-part-idUSKBN17E2W1?il=0
http://www.reuters.com/article/us-whole-foods-utd-natural-fds-jana-part-idUSKBN17E2W1?il=0
Jana’s call to overhaul Whole Foods supply chain has few takers
['Anya George Tharakan and Lisa Baertlein']
01-01-2021
reuters.com
success_wayback
gen
180,764
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['NEW YORK/LOS ANGELES (Reuters) - Whole Foods Market Inc’s CEO has reached out to lawmakers in Congress and regulators to push for the grocery chain to revamp its supply chain, which is part of her plan to turn the company into a major player in the highly competitive U.S. grocery sector.\nFILE PHOTO: Whole Foods Market Inc headquarters in New York City, U.S., September 8, 2016. REUTERS/Brendan McDermid/File Photo\nThe competitive nature of Whole Foods market has prompted the supermarket chain to alter its supply chain after being accused by customers of dumping pesticides and other ingredients. Whole Foods serves more than 3 million customers nationwide, most of whom are adults.\nOn Tuesday, Whole Foods became the first major U.S. retailer to come under fire from lawmakers in a critical fiscal year just ended.\nCo-CEO Shelly Silver said in an interview she is meeting with lawmakers to streamline and modernize Whole Foods’ supplies to minimize the impact on consumers.\n“We’re really committed to and committed to refocusing for our customers who want healthy food without exposure to pesticides, chemicals, GMOs, GMO seeds,” she said.\nRubio has said he would be open to forming an advisory group to look at food safety issues.\nEarlier this month, the U.S. Environmental Protection Agency requested more extensive scrutiny of Whole Foods and two other grocery chains, following a damning report from workers’ rights group American Civil Liberties Union.\nThe report added that Whole Foods supermarkets were disproportionately providing a crucial perishable food item: vegetables. The chain is among hundreds of grocery stores worldwide that primarily serve food delivered by mail, sometimes without an internet link, such as its closest peer.\nWhole Foods acknowledged that about half of its customers prefer to pay for generic products, which has been a key source of price increases. But it said it provides more than 65 percent of its products online.\n“It’s the better quality products to deliver for you,” Silver said.\nState regulators have found that Whole Foods stores tended to buy bottled water and non-prescription and unisex products, and recommended more aggressive pricing, but that did not satisfy residents or grocery stores.\nGoldman Sachs Group Inc has warned its investment banking clients that under the controversial guidelines, Whole Foods sold products without the required list of ingredients to customers in states such as Iowa, Kentucky, Oklahoma and other states.\nAt the Consumer Federation of America’s Consumer Conference in November, Target Corp Chief Executive Gregg Steinhafel said the chain must curb prices to satisfy its customers.\nRelated Coverage Deal made to protect shoppers from pesticides risks\nWal-Mart Stores Inc is exploring wider partnerships with Whole Foods in an effort to get more customers. It also reported last month that Whole Foods will pay $1 billion in payments to former Walmart employees in return for their complaints about the company.\nA Whole Foods spokesman said that the partnership would continue. Representatives for Target did not immediately respond to requests for comment.\n“Doing this is what life is all about, to pay for our consumers’ food needs. Yes, any of us can express our preferences,” Silver said.\nThe companies’ relationship has never been as close as it has been this year.\nIn a surprise move, Whole Foods markets are expected to begin selling Costco Wholesale Corp’s Food for All Mankind Collection products later this year. The chain said it has also “introduced world-class product and pricing initiatives.”\n“We hope that with your input and energy that you find ways to enhance your experience by eating products that we believe enhance your personal food preferences,” Silver said.\n']
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32
http://www.reuters.com/article/us-usa-stocks-idUSKBN17E1DI?il=0
http://www.reuters.com/article/us-usa-stocks-idUSKBN17E1DI?il=0
Wall Street ends lower; Trump comments dampen sentiment late
['Caroline Valetkevitch']
01-01-2021
reuters.com
success_wayback
gen
180,767
[0.949999988079071]
['NEW YORK (Reuters) - U.S. stocks ended lower on Tuesday as investors shied away from selling, and President Donald Trump made comments that kept stocks under pressure.\nFILE PHOTO: A U.S. Dollar note is seen in this illustration photo, in Frankfurt, Germany, November 12, 2017. REUTERS/Kai Pfaffenbach/Illustration/File Photo\nOn Monday, Trump repeated his view that the tax law passed by Congress was better than it had originally proposed, raising concerns about potential deficits and hurting jobs.\nAnd on Tuesday, many investors were emboldened by gains in the Dow, after oil prices rose more than 2 percent for the fifth straight session.\nTrump also gave a warning that some companies, including Apple Inc (AAPL.O), would be subject to potential protectionist measures if U.S. lawmakers failed to rein in tax rates on billions of dollars in profits.\nA selloff in commodities also sent the benchmark S&P 500 index 0.4 percent lower, following gains in energy and copper.\nA lack of potential cues to the Trump administration had left Wall Street - and the market - in negative territory for the fourth straight session.\n“Since what President Trump had in mind was a tax reform that would be aimed at fixing the business mess, I think this is reflecting the view of investors that the tax reform package has been largely accomplished and nobody should be concerned about it,” said Darren Weintraub, chief market analyst and currency strategist at Morgan Stanley.\n“With the tax reform bill making it back to the wire after an extended period of serious uncertainty, you have things falling apart just as they are currently falling apart.”\nThe Dow Jones Industrial Average .DJI was down 28.65 points, or 0.33 percent, at 25,712.46, the S&P 500 .SPX was down 6.61 points, or 0.35 percent, at 2,431.68 and the Nasdaq Composite .IXIC was down 12.07 points, or 0.17 percent, at 6,700.45.\nThe S&P 500 had lost close to a percent during a rally in energy, and most major benchmarks are down in the past two sessions.\nThe Fed set the federal funds rate at 1.50 percent on Tuesday and the Chicago Federal Reserve Bank’s consumer price index .CPI was projected to rise 0.3 percent in December.\nHealthcare shares .SPLRCI, which have risen 16 percent since their initial public offering in October, had been “badly affected” by the declines, said Richard Ferrara, portfolio manager at Pittsburgh-based Westport Capital Management.\n“We will leave a lot of profit picks on hold,” Ferrara said.\nTwitter Inc (TWTR.N) shares were down 2.2 percent at $221.37 after a trader recommended the stock on a client’s recommendation, despite a “minor slowdown” in the company’s fourth-quarter revenue. Twitter was down 3.5 percent at $178.87 in after-hours trading.\nOil prices rose on Tuesday, lifted by the latest U.S. drawdown as OPEC wrapped up a phase two deal, and along with a surprise hike in global crude supply, helped boost prices.\nBrent crude LCOc1 was down $1.34 at $53.21 a barrel. U.S. crude CLc1 was down 61 cents at $54.07, having settled down $1.42, or 1.03 percent, on Monday.\nSpot gold was down 0.78 percent to $1,316.74 an ounce, with U.S. gold futures CLc1 trading up $4.90.\n']
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33
http://www.reuters.com/article/us-autoshow-new-york-daimler-idUSKBN17E2R0?il=0
http://www.reuters.com/article/us-autoshow-new-york-daimler-idUSKBN17E2R0?il=0
Mercedes-Benz undecided if it will sell future U.S. diesels
['David Shepardson']
01-01-2021
reuters.com
success_wayback
gen
180,769
[0.949999988079071]
['Sep 10, 2017; Indianapolis, IN, USA; Mercedes-Benz USA Vice President and General Manager Patrick Eager speaks during the Fourth Quarter 2016 Earnings Conference Call. Mandatory Credit: Jerome Miron-USA TODAY Sports\n(Reuters) - Mercedes-Benz is undecided on whether to sell existing diesels, an announcement made on Friday by its chairman that the German automaker was a destination for potential buyers, according to multiple sources familiar with the matter.\nChairman and Chief Executive Officer Marcel Sicha told reporters at the end of November that in order to compete in the premium segment in the United States and Europe, it would consider “all possibilities”.\nAsked about speculation that the automaker may sell a pre-owned model now, a source said: “This is not something we would discuss.”\nBernhard Maurer, chief executive of Mercedes’ European business, has referred to the product before as “shippable”.\nA person close to the matter who asked not to be named said the company was made aware of the meeting in November, but that Mercedes had not decided whether to sell the current models.\nBBM Europe first reported that Mercedes-Benz was in the running for the U.S. to replace the current models.\nMercedes has delivered more than 1.4 million diesels since 1995, passing off its biggest sales record back in 2012, when it sold 754,000 diesels.\nMaurer and Sicha took over as head of the automaker in 2014.\n']
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34
http://www.reuters.com/article/us-usa-tax-idUSKBN17E2SV
http://www.reuters.com/article/us-usa-tax-idUSKBN17E2SV
U.S. tax reform debate moves away from Ryan blueprint
['David Morgan']
01-01-2021
reuters.com
success_wayback
gen
180,770
[0.949999988079071]
['U.S. House Speaker Paul Ryan speaks to reporters after delivering his first State of the Union address at the Capitol in Washington, U.S., January 1, 2021. REUTERS/Jonathan Ernst\nWASHINGTON (Reuters) - Talks to overhaul U.S. tax rules are moving away from Ryan’s blueprint, drawing criticism from the conservative Republican-led House of Representatives committee that has been held up in a fierce battle with Democrats over the income tax plan.\nAfter discussions at the committee, conservative lawmakers said in a letter this week that the views at the beginning of the weekend “seriously could not be revised” and there was “nothing to change.”\n“There has been no attempt by the committee to revise the plan,” said Brady Kela, a top House tax reform supporter.\nThough a new deadline for such discussions lapses next week and the bill is expected to become law early next year, lawmakers are now left to find consensus on tax overhaul legislation.\nThe secretive tax overhaul bill, designed to make changes in tax code, has been entangled in a high-stakes backroom “sweetheart” deal with Democrats that has already led to votes at the committee end Thursday.\nRepublicans, who control the House and Senate, insist that since a June 20 deadline cut off by more than a week, they need a detailed vote next week on the plan, which is meant to restore U.S. tax rates, repeal a longstanding tax credit, and end the deductions and credits it funds for corporate and individual Americans.\nRepublicans see a deal on taxes that includes tax reform as a way to salvage their party’s 16-year-old tax cut plan, which launched after President Donald Trump became president in November.\nThe tax overhaul bill drew some criticism from Democrats, who say that left a path open for a massive giveaway to the wealthy. But it has also been beset by disputes over the scale of the tax cuts.\n“It’s a difficult situation to figure out which means it’s better to break into a big deal to lower the tax burden on the middle class,” said Representative Bill Pascrell of New Jersey, the top Democrat on the tax reform committee.\nOn Thursday, a House panel heard testimony from US Representative Paul Ryan, the top Republican on the House Ways and Means Committee, and two other committee members.\nMore congressional leaders are expected before the end of the week, with House aides looking to cap significant differences by using a break that would generate revenue from a higher mix of an income tax and estate tax.\nThe plan includes repealing the estate tax and tying it to income tax rates, to create a more investor-friendly tax code. It also aims to stimulate the economy by reducing the percentage of income tax brackets from 15 percent to six, creating a new tax credit for people that make more than $200,000.\nThe plan is also expected to require a pass-through income tax credit that also figures in the billions of dollars in the tax cut bill.\nRyan wants a rate of 35 percent on income that exceeds $1 million. Democrats in the tax debate say the new rate is highly speculative, but are willing to push for at least an 18 percent rate.\nThe American Jobs Act, whose side of the tax debate has included a potentially new income tax credit to help those with an adjusted gross income of $250,000, has continued the anger over the percentage scale.\n“The point of this legislation is that the United States would get a lot better for less if we just capped the rate,” said Representative Peter DeFazio of Oregon, the committee’s top Democrat.\nThe draft tax bill calls for a 33 percent rate on the highest-earning $250,000 in earnings, putting it in line with the current rate of 35 percent.\nThe draft bill singles out several exemptions for people making more than $250,000. These include certain protected high-wage jobs, the General Services Administration, and sales tax exemptions for only $5,000 to $10,000.\nOne example of the six exemptions is the U.S. Export-Import Bank, the government agency that allows the bank to buy foreign equipment for the United States.\nA second level is the so-called personal exemption on business tax breaks, which gets rid of the personal tax break which allows companies that make less than $10 million to pay no income tax.\n']
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35
http://www.reuters.com/article/us-nfl-lawsuit-idUSKBN17E2D3
http://www.reuters.com/article/us-nfl-lawsuit-idUSKBN17E2D3
St. Louis sues NFL for more than $1 billion over loss of Rams football team
['Ben Klayman']
01-01-2021
reuters.com
success_wayback
gen
180,772
[0.949999988079071]
['Jan 1, 2017; Los Angeles, CA, USA; Los Angeles Rams quarterback Jared Goff (10) and quarterback Jared Goff (8) celebrate after they defeated the Seattle Seahawks 20-14 at the Coliseum. Mandatory Credit: Bill Streicher-USA TODAY Sports\n(Reuters) - St. Louis sued the NFL on Wednesday for more than $1 billion over a loss of the Rams football team they won the 2018 season after owner Stan Kroenke extended the franchise until 2021.\nNFL Commissioner Roger Goodell said in his draft statement the Rams’ initial 2024 offer was too low and it was unclear when the owner of the Houston Texans would extend his deal to hold the franchise.\n“These negotiations reflect a woeful and financially unbalanced game,” said Rams owner Stan Kroenke in a statement. “The Rams team was looking for a maximum offer of $250 million, but we could not agree on an $80 million increase in market value or which franchise we would choose.”\nSt. Louis, which signed franchise owner Bill Smith in 2005 and sold the team in 2012, claimed the revised franchise value was at $660 million. It argued that the Rams would create a deficit of about $750 million.\n“We claim that the terms of our renewal will have a substantial cost to our franchise and that the games on which the Rams play will be held at the existing Coliseum in Florham Park,” said a St. Louis County Circuit Court judge in a court filing on Wednesday.\nThe judge scheduled a hearing on those matters for January 9.\nSexton Sports LLC, an attorney for St. Louis, filed a joint statement of claim with Kroenke’s agents. The race was drawn primarily between St. Louis’ push to retain the team, and Denver’s attempt to retain the Rams, which included allowing the team to sell the team and moving the franchise to Kansas City.\nThe two sides also have a legal battle over what are known as property taxes owed by the opposing team. The Rams lost the Rams Stadium opening to the Denver Broncos on Jan. 1, after the team lost the 2017 season by three games.\nKroenke, the man who stepped into the team’s ownership position after the deal was signed in December 2015, said the team’s original offer was too low. “This offer is not fair to the Rams and their fans and without fair compensation, the City of St. Louis would not be able to move forward with expansion and renovation,” he said.\nIn its latest lawsuit, the Rams sought to block the projected value increase of about $660 million, saying the stadium was “highly likely” to fail due to excess assets - including an arena, a new visitor-services facility and a luxury hotel.\nThe $980 million ballpark proposal was under consideration by St. Louis’s former owners, Davis Entertainment Partners and Gary Davis, who owned the team. But the stadium had been damaged in September when lightning struck the city, sending floodwaters across it.\nIn its letter to Kroenke, Rams spokeswoman Jonah Cutuk said the sale of the team had previously been in the works.\n“The Owners and Rams share a love and commitment to a two-tier fan experience with a market-breaking tradition of football,” Cutuk said. “Our aim is to help the community benefit not only from the Rams’ iconic status, but also from the league’s multi-billion dollar investment.”\nLike the Oilers who won the Stanley Cup in the 1980s, the Rams made the franchise the second-largest in professional sports behind Dallas. In 2004 they won the New England Patriots in their first championship. The past year, the Rams won the Super Bowl in New England.\n']
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36
http://www.reuters.com/article/us-toyota-robots-idUSKBN17E0C8
http://www.reuters.com/article/us-toyota-robots-idUSKBN17E0C8
Japan automakers look to robots to keep elderly on the move
['Naomi Tajitsu']
01-01-2021
reuters.com
success_wayback
gen
180,774
[0.949999988079071]
['TOKYO (Reuters) - Japanese automakers are set to introduce robots that will take elderly motorists on the road in the years ahead, but they need to offer autonomy to the less, or more autonomy-bound, people they choose to work with, industry sources said.\nThe robots, called SLED, emit electricity to power and control machinery for wheelchairs, bicycles and other sturdy objects. They also display coded machines that can be programmed to tolerate control and attack obstacles and aerodynamic designs.\nThe companies declined to comment.\n“In the future, we want to combine both robot technologies and autonomous vehicles so the elderly will be able to drive themselves around more easily,” said Hira-Yoshinori Doo, a consultant and Honda Motor’s (7267.T) chief subgroup co-ordinator for integrating robots with vehicle systems.\nShanghai-based 3-D Robotics launched a prototype in the late 1990s, but was lagging behind competitors in the field, industry sources said.\nThe company’s custom new, feature-driven robot, the Bilam Construct, can tell the time and arrive at any spot within seconds of using only a single wheel, while offering autonomous driving, similar to Tesla Inc’s (TSLA.O) Autopilot.\nThe rival firm has enlisted Ford Motor Co (F.N) General Motors Co (GM.N) as a $200 million investor in its technology for autonomous driving, though a Japanese automaker official on Tuesday declined to comment.\n“Toyota and Honda have a very unique partnership. Do you know if it’s about building an autonomous vehicle by the end of the decade? They can’t predict that ... but there’s a focus on how autonomous cars are going to be done,” Michael Yamanaka, chief executive of Yamanaka & Co Inc, the firm’s parent firm in Japan, said, declining to provide details.\n“If you don’t go for mobility by 2025, at least we are not seeing Toyota continuing that.”\nIn another nod to the time-long development of autonomous vehicles, Honda developed a robotic suit to gauge the movement of people when driving through urban areas.\nIt was developed with the help of machine learning from San Francisco-based Machine Learning and Computer Sciences Corp (MASCO.N), and includes video and still cameras, a textured arm that scans a wearer’s stance, and the ergonomics of a wheelchair.\n“This is still a new direction. Technology needs to evolve,” Yamanaka said.\nHonda is set to launch a prototype in the 2020s while Honda Motor Co is in talks with Renault (RENA.PA) and Panasonic Corp (6752.T) on a self-driving programme, Yoshinori Kiuhara, the company’s senior vice president for the overall electric car and advanced technology group, said in an interview in October.\nMigabot, which built the sleek, futuristic SLED in Tokyo, is looking at the future as a vehicle to allow users to stroll, talk and organize task lists in search of information.\n“Automotive systems need to protect the body from the 21st century … It must protect our social fabric from a century of robot nuisances,” said Yoshinori Suhita, the global head of 10-meter (26-inch) wheels that GM is building in Japan.\n']
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37
http://www.reuters.com/article/us-france-election-idUSKBN17E2VF
http://www.reuters.com/article/us-france-election-idUSKBN17E2VF
French presidential race tightens further, markets nervous
['Adrian Croft and Elizabeth Pineau']
01-01-2021
reuters.com
success_wayback
gen
180,776
[0.949999988079071]
['PARIS/FRANKFURT (Reuters) - French President Emmanuel Macron’s war of words against his former opponent Marine Le Pen has become the biggest foreign exchange gamble of his first five years in office - and will add to the pressure on German chancellor Angela Merkel to respond.\nFILE PHOTO: Les Republicains President Emmanuel Macron attends a news conference with Prince Frank Boulos at the press centre in the northern city of Mansoura, far southeast of Paris, France November 6, 2018. REUTERS/Philippe Wojazer/File Photo\nAnalysts said the French president’s general election campaign would become even more desperate and disruptive if the economic outlook deteriorates further. If it doesn’t, it could hurt Merkel in the run-up to her back-to-back national elections in mid-March and early April.\nMerkel has already hinted she is backing Macron in the coming days to stop the bleeding of eurosceptic voters who are now ready to vote for Macron in March.\n“If Macron strengthens his positions then we know that he is not going to let the financial market go to war with him,” said Wolfgang Thieme, an emerging markets specialist at Dresdner Kleinwort.\n“All bets are off, the markets have collapsed, and the market will go for Macron. There are very few markets where this is bad news,” he said.\nA survey last week by Frank Dallee, a policy and market strategist at Credit Agricole, suggested more than a quarter of investors thought Europe would suffer under Macron, according to state-owned financial planner IFMA.\nThe weakness in the euro last week over a reported 1.5 percent move on German Chancellor Angela Merkel’s head underlined the German insistence on taking no ground. European shares were little changed.\nOn Tuesday, EUR/USD was set to trade down to between $1.1569 and $1.1691, down 1.6 percent on the day, while the euro is trading broadly lower at $1.3023.\nThe biggest of those worries was whether the French candidate would bring back rates to 15 percent, raising concerns over his ambition. He already has too little to sell on inflation and a government austerity drive to make up for weakness in his economy and especially his threatened populist positions on Europe and immigration.\nHe suggested his plans were “too grand” but “the uncertainty on our continent makes up for the shockwaves the market has already received”.\nIn a surprise opinion poll conducted before the French president’s surprise election, many analysts expect support to drift towards the centre right after he is elected, while support for Merkel, whom Macron said would not leave France, remains stubbornly low.\n“People either understand him better, they simply don’t want to be left behind, or they just don’t believe it will have any impact on their housing market,” said Sarkozy Centre, political analyst Martin Kaye.\n“If Macron does reduce the ceiling on the ceiling to 15 percent, that doesn’t even seem to make up for the shockwaves of uncertainty that had already affected the markets.”\nA similar scenario would be seen if France’s recovery that started a year ago to almost double GDP accelerated this year to its fastest pace in three years - although a further boost for domestic demand could potentially stall a recovery.\nMISSING CHOICE\n“The decline in the euro’s relative strength and falling prices could diminish the stimulus provided by increased domestic demand, making it easier for the French market to return to growth,” said Claire Meloche, head of investments at SRK Investeir.\nThis uncertainty is being reinforced by more uncertainty in domestic policy decisions - policy makers risk not only being left on the “wrong side of the curve”, but too poor to make them pay heed to tougher sanctions from the European Union or a new anti-immigration government in Berlin, analysts said.\nThe euro has barely budged from its 26-year lows against the dollar this year - more notably against the yen than against the Swiss franc - compared with an average 5 percent drop in European shares since mid-2012.\n“Our view is that the Federal Reserve will in fact raise rates next week and may pull back thereafter,” said Madeline Chovanec, strategist at investment bank Standard Chartered.\n']
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38
http://www.reuters.com/article/us-northkorea-event-idUSKBN17E2CT
http://www.reuters.com/article/us-northkorea-event-idUSKBN17E2CT
China says North Korea tension has to be stopped from reaching ’irreversible’ stage
['Dominique Patton and Sue-Lin Wong']
01-01-2021
reuters.com
success_wayback
gen
180,778
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['WASHINGTON (Reuters) - The United States would be wrong to think that North Korea’s latest nuclear missile launch was meant to end a long-running relationship with China, China’s State Councilor Yang Jiechi said on Tuesday.\nFILE PHOTO: The U.S. ambassador in Beijing, Yang Jiechi, speaks during a news conference in Beijing, China February 5, 2018. REUTERS/Thomas Peter/File Photo\nYang said China and the North’s Supreme People’s Consultative Assembly (SPC) conference was “emerging as a force for world peace,” and a major challenge for U.S. President Donald Trump should be resolved by consultation with the two Koreas.\n“It’s extremely important not to have any kind of confrontation on the Korean peninsula, which is more damaging than any other threat we face as a country,” Yang told a forum on relations between the two Koreas.\nTrump’s administration has threatened to impose new sanctions on North Korea if it continues testing missiles capable of hitting U.S. territory.\n“I want to believe in the strength of my relationship with China,” Yang said at the annual forum of the council.\n“But it’s a must to do it together, but at the same time, it cannot happen by chance.”\nYang said South Korea’s foreign minister noted North Korea’s missile launch this week and urged the United States to find a way to end the nuclear conflict with Pyongyang after a bruising 12-year period.\nChina is North Korea’s second largest trade partner and the United States imports hundreds of millions of dollars worth of goods from China each year.\n“We expect there to be real and meaningful negotiations between (North and South Korea) ... in the near future,” he said.\nYang said two months ago North Korea tested a type of Hwasong-15, a type of medium-range missile with a range of more than 400 km (260 miles). He said Pyongyang’s ICBM would be launched near Haag-Mar port and possibly in response to U.S. missile strikes.\nHis comments were echoed by a senior North Korean diplomat, who said Pyongyang had tried to determine how to respond to the test.\nYang said he believed South Korea should provide “preparing steps” to take to contain North Korea, and Myanmar should take steps to further improve ties with Pyongyang as a step to end a five-decade economic inter-Korean rift.\nTrump on Monday urged North Korea to “exercise some restraint,” after the country’s latest missile test.\n“FACTBOX”\nYang said he believed the United States should continue working with China, with direct discussions on sanctions, while Japan is urgently looking at joint military exercises with South Korea that could lead to permanent U.S. military bases in the region.\n“The United States would do everything to dissuade other governments from investing and training their militaries ... in joint military exercises between the two Koreas,” Yang said.\n“Japan, as a concerned economic partner of the United States, is being especially concerned about what happened to North Korea.”\nSouth Korea’s Defense Ministry said in August that South Korea was ready to host any North Korean air attack plans to punish Pyongyang after Pyongyang conducted its sixth nuclear test.\nYang said Japan was being “kidnapped” by China, suggesting that Beijing could act as an intermediary in the resolution of the dispute between Seoul and Tokyo, which has overseen two rounds of the Taepodong-2 nuclear test, initiated by Pyongyang last November.\n“I believe the (Japan) government will be successful in this position and won’t slip back into repeat mistakes,” Yang said.\nThe United States has separately stepped up a campaign to persuade Chinese companies to curtail their investments in the North.\nYang said Japan’s contribution to the war effort was not made public, but said China should take its share of that contribution.\n']
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39
http://www.reuters.com/article/us-fox-oreilly-advertising-idUSKBN17E2W3
http://www.reuters.com/article/us-fox-oreilly-advertising-idUSKBN17E2W3
O’Reilly’s ratings stay strong despite sexual harassment claims
['Tim Baysinger']
01-01-2021
reuters.com
success_wayback
gen
180,780
[0.949999988079071]
['(Reuters) - O’Reilly is the one who has benefited most from the downfall of Bill O’Reilly, both in the ratings and without viewers.\nDuring a public feud with the comedian behind “The Bill O’Reilly Show,” which earned a 3.5 rating among adults 18-49 and 26.5 million viewers, the O’Reilly Factor dominated cable TV in the second half of 2015 with news or ratings.\nHowever, there was huge disappointment with the other O’Reilly Factor this week, which saw the numbers slump for the 24th consecutive week.\nO’Reilly’s Fox News Channel show, which has a 9.6 rating in the 18-49 demo, was down by two and a half percent from its last appearance.\nAlso last week, O’Reilly addressed allegations of sexual harassment brought against him by several women, including seven current and former employees, who spoke with his syndicated show.\nBut those at Fox News felt vindicated after the women came forward, prompting O’Reilly to clarify on Wednesday he was “absolutely not” acting in self-defense and saying “these are not the cold-blooded behaviors” that the women accused him of.\n“You know in those conversations that’s what happened,” O’Reilly said. “We spent hours, frankly, following up on those cases and now after so many years of life knowing that I was a predator of women ... we have now changed our behavior.”\n']
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40
http://www.reuters.com/article/us-japan-usa-trade-idUSKBN17E2VH
http://www.reuters.com/article/us-japan-usa-trade-idUSKBN17E2VH
U.S. wants trade to dominate economic talks with Japan: source
['Yoshifumi Takemoto']
01-01-2021
reuters.com
success_wayback
gen
180,786
[0.949999988079071]
['WASHINGTON (Reuters) - Washington is keen on leveraging trade in the Asia-Pacific as a way to overcome threats to U.S. security in Japan and protect its interests in Asia, the U.S. Trade Representative’s office said on Wednesday.\nFILE PHOTO: A photo illustration shows a Toyota (TMKJ.PK) vehicle amid Typhoon Haiyan devastation in the Philippines in November. REUTERS/Carlos Barria/File Photo\nThe Pentagon, U.S. and other officials said during a briefing that they planned to recommend to the Trump administration in February that the United States use the advanced energy technologies to cover more bases than any other nation in Asia, a plan that creates a bevy of export options for the United States in the region.\nAsked if it meant U.S. firms moving operations out of Japan to China, which occupies Washington’s biggest country of influence over that country, or moving forces into China, Pentagon officials would not confirm that.\n“In line with the U.S. Trade Representative’s proposed trade activities strategy, we intend to have this issue addressed at the summits of the Asia-Pacific Economic Cooperation (APEC) countries and relevant international organizations,” Department of Commerce Deputy Trade Representative Kevin Englund told a Senate Commerce, Science and Transportation hearing.\nU.S. representatives from China, the Philippines, Japan, South Korea, Taiwan and South Korea would appear at the APEC summit as guest speakers, the sources said.\nTrade between the United States and Asia remains high, said Paulo Perez, a fellow at the Center for Strategic and International Studies think tank in Washington and author of “China: America and the Philippines.”\nNevertheless, “I don’t think the United States has done a big job in showing that this is a serious and decisive issue in terms of what impact is happening to Asia-Pacific,” he said.\nJapan still has its main responsibilities but has an interest in strengthening ties with Asia and that could be why it sought to justify Tokyo’s investment in military aircraft and other overseas companies, he said.\nWhile some outside experts praised President Donald Trump’s decision to withdraw from the Paris climate accord, forcing the United States to renegotiate its trade deal, many others questioned Trump’s wisdom and sensitivity to trade matters.\nSlideshow (5 Images)\nOn Thursday, U.S. Secretary of State Rex Tillerson hosted a similar type of informal briefing as part of a U.S.-Japan economic forum to be held at Japanese Prime Minister Shinzo Abe’s presidential residence in Tokyo, people familiar with the talks said.\nIt was unclear whether Tillerson will have the opportunity to go to meetings with Abe on the sidelines of the summit, given Japan’s ongoing determination to combat international terrorism and other problems.\nTrade talks also coincide with a pattern of trade friction between U.S. and Japanese partners that has taken on the aura of the Donald Trump administration.\nThough there are many bilateral disputes between the United States and Japan, the United States believes that Japan and Taiwan are parts of a broader relationship that will benefit the United States economically.\nThe discussions could hold clues to how the Trump administration might approach its commitment to transparency in business dealings with Tokyo over the 2019 P5+1 agreement aimed at preventing U.S. firms from dumping goods into the region, Englund said.\n“The direct concern is how the United States views Tokyo,” Englund said. “If the United States concerns that the Japanese are not transparent ... there is a good chance of that being a concern on Capitol Hill.”\nU.S. President Donald Trump is expected to announce changes to the North American Free Trade Agreement (NAFTA) at the summit of South Korea’s main opposition party on Jan. 8, sources familiar with the matter told Reuters on Wednesday.\nThe relocation of U.S. manufacturing operations to Beijing is opposed by many Washington allies, Japanese companies and Trump administration officials including Commerce Secretary Wilbur Ross, U.S. Trade Representative Michael Froman and top U.S. officials from Japan, Australia, Germany, Poland, South Korea and India.\n']
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41
http://www.reuters.com/article/us-autoshow-new-york-vehicles-idUSKBN17E2KK
http://www.reuters.com/article/us-autoshow-new-york-vehicles-idUSKBN17E2KK
Automakers unveil new SUVs at New York auto show but also focus on EVs
['David Shepardson']
01-01-2021
reuters.com
success_wayback
gen
180,790
[0.949999988079071]
['LAS VEGAS (Reuters) - The North American International Auto Show kicked off on Thursday and wraps up on Friday, with many automakers announcing plans to launch a variety of new vehicles at the coming event.\nFILE PHOTO: A sign for NAB Motor Show 2017 is seen in Las Vegas, Nevada U.S., February 12, 2017. REUTERS/Rick Wilking/File Photo\nToyota Motor Corp’s (7203.T) new 3.8-liter V8 engine will be used in its new Corolla and Lexus sport utility vehicles and a new entry-level Lexus coupé.\nWhile the company’s brand image is recovering following the launch of its Prius hybrid electric vehicle last year, many automakers are cautious about putting out new vehicles at the show.\nWhile Toyota made headway in its domestic car market, efforts from others are expected to slow or stall as overall shipments look uncertain, analysts say.\n“Smaller (and) more established brands are on their best behavior as their brands go down,” said Michael McQuaid, chief auto analyst at Kelley Blue Book.\n“All the reports that we’ve seen so far point to automakers taking down ‘Model 2’ or ‘Model 3’ incentives just because consumers wanted to.”\nThe Detroit auto show wraps on Friday, one day after the Royal Ontario Museum in Ontario had its $27 billion budget. A grand finale, during which hundreds of thousand of buyers show up, begins on Saturday with the unveiling of new standards and standards for the parking lot.\nAnd while Boeing is working with Accenture to develop what the company calls the next generation of autonomous and electric vehicles, the test aircraft’s driver approach will prove difficult because their radar can be biased against them, experts say.\nFord’s (F.N) Lincoln MKZ sedans will debut during the show on Saturday but after that there are “mixed reactions,” Kelley Blue Book analyst Philip French said.\nThe trend in sedans differs from Ford’s factory byproduct, which is a building up of driving equipment that has long remained bolted to everything from warehouses to gas tanks.\nWhile Lincoln is making big improvements to its all-wheel drive vehicles, Lincoln dealers show the MKZ available in 36 of the first 15 sales months before October 2019 to push vehicle sales forward.\nIn contrast, Ford’s premium Lincoln Maxima and Ford Explorer sedans will be tested at the show and will debut next month.\n“It’s a real push because in the future an automaker may not release one of the four ‘Model’ vehicles and then say, ‘no, we are going to produce that vehicle,’ ” McQuaid said.\nCar companies are increasingly moving in that direction and there is a growing expectation that the EPA will enforce new requirements and allow automakers to use data to make better cars.\nVolkswagen (VOWG_p.DE) said it has fully phased in the industry-wide approach on emissions standards.\nThe auto industry in general has toughened its vehicle models, including those for most minivans, SUVs and hatchbacks.\n']
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42
http://www.reuters.com/article/us-time-m-a-meredith-exclusive-idUSKBN17E1W9
http://www.reuters.com/article/us-time-m-a-meredith-exclusive-idUSKBN17E1W9
Exclusive: Meredith falls short of Time Inc’s deal price expectations - sources
['Lauren Hirsch and Jessica Toonkel']
01-01-2021
reuters.com
success_wayback
gen
180,796
[0.949999988079071]
['REUTERS - Meredith Corp. fell short of its $3.65 billion offer price expected by Wall Street bankers on Monday, citing too much debt and higher stock options at a time when Meredith shares have struggled.\nFILE PHOTO: An aerial view of the Meredith Corp. Inc. headquarters in New York City is seen on October 17, 2012. REUTERS/Lucas Jackson/File Photo\nThe struggling media company, owned by Meredith’s German parent, ended talks with Wall Street banks on Monday. Meredith said it would exit its existing deal, after reaching an agreement with Goldman Sachs Group Inc and JPMorgan Chase & Co.\nThe companies said the deal was “closely considered” and expects to finalize a deal by the time Meredith announces its full results for the year on Jan. 15.\nMeredith’s offer for Time Inc, which had been the most expensive in the advertising market in recent years, comes a day after Time Inc reported a narrower quarterly loss and an even bigger quarterly profit.\nMeredith, a media business with about $2.6 billion in annual revenue, said Time Inc reached an agreement with Goldman Sachs, JPMorgan and Morgan Stanley on Monday.\nIn its report, Meredith said that a few financial advisers had recommended that Time Inc remain in the deal.\nIt would not take long to work through its financial review and still expect to finalize a deal, Meredith said.\nRepresentatives for Goldman Sachs, JPMorgan and Morgan Stanley did not immediately respond to requests for comment.\nKathryn McAloon, Meredith’s chairman, CEO and president, said in an interview that the transaction was “very compelling” and due to the economic situation, Meredith would not be able to complete the deal without the financial assistance of Goldman Sachs.\n“Our goal is to work very closely with the board in the near-term to build the businesses we need to drive our growth,” McAloon said.\nMeredith will do so through a successor, she said.\nIn a filing to the Securities and Exchange Commission on Jan. 1, a company spokeswoman said that of its remaining deals with banks, Meredith received more than $5.3 billion from banks under the terms of its previous agreement, which had set specific terms that were not reflected in its current offer.\nThe company also said it was satisfied with the conditions of the current agreement, including equity restrictions, with Wells Fargo & Co, Legg Mason Inc and Morgan Stanley all expressing strong support.\n']
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