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Factbox: What it will take for Trump to meet his immigration goals

WASHINGTON ( ) – President-elect Donald Trump has outlined a ten-point plan on his transition website for dealing with illegal immigration. Here is a look at what it would take to accomplish each of the ten goals.

BUILD A WALL ON THE SOUTHERN BORDER: Trump has the legal authorization to build fences under the “Secure Fence Act” passed in 2006, but Congress would have to approve considerably more funding to wall off the entire southern border, which spans nearly 2,000 miles. There are also logistical challenges. Some areas of the border are privately owned, and the geography of some stretches would make construction extremely difficult. Trump previously said he would make Mexico pay for the wall, but that policy is not included on his post-election web site.

END CATCH-AND-RELEASE: To end the practice known as “catch and release,” under which immigrants are released pending court hearings, Trump could unilaterally shift policies, but full implementation would require significantly more detention space to hold migrants before they can see a judge. There is currently a 500,000-case backlog in U.S. immigration courts and recent court decisions prohibit him from detaining children with their parents for longer than 20 days.

ZERO TOLERANCE FOR CRIMINAL ALIENS: The Obama administration currently prioritizes immigrants convicted of serious crimes for deportation. But Trump could try to expand the definition of who is classified as a criminal alien or attempt to speed up removals of people who have been ordered deported. In any case, more funding for courts and personnel involved in apprehensions would likely be necessary.

BLOCKING FUNDING FOR SANCTUARY CITIES: Trump has threatened to cut off funding for so-called sanctuary cities such as Chicago and Los Angeles, where local law enforcement refuse to report undocumented immigrants they encounter to federal authorities. While Trump has the authority to cut some kinds of funding to the cities, mayors of those cities have said they will not be pressured to report migrants to federal agents.

CANCEL UNCONSTITUTIONAL EXECUTIVE ORDERS AND ENFORCE ALL IMMIGRATION LAWS: Trump has the authority to undo executive orders like DACA, which has provided temporary relief from deportation to more than 700,000 immigrants brought to the United States illegally as children. Enforcing all immigration laws would require Trump to deport an estimated上海龙凤419 11 million immigrants living illegally in the United States. That would require large increases in funding from Congress to grow the current workforce of immigration agents and judges to be able to lawfully handle 11 million deportations. Locating so many immigrants, many in the country for years with deep family ties, would be logistically challenging and could spark public backlash.

SUSPEND THE ISSUANCE OF VISAS TO ANY PLACE WHERE ADEQUATE SCREENING CANNOT OCCUR: Similar to the “Muslim ban” Trump proposed during his campaign, this policy would be aimed at visa seekers from war-torn countries such as Syria and Iraq where many refugees and asylum seekers have sought to escape. Under current law, Trump could unilaterally suspend visas for any individuals or groups or people deemed “detrimental to the interests of the United States.”  The policy could face challenges in court, however, if it appears to discriminate against any one religion.

ENSURE THAT OTHER COUNTRIES TAKE THEIR PEOPLE BACK WHEN WE ORDER THEM DEPORTED: The Obama administration has wrestled with the issue of forcing recalcitrant countries to take back people the United States is seeking to deport. Trump could ramp up diplomatic pressure on countries such as China, the country that has refused to repatriate the largest number of people ordered deported from the United States, but that could have wider diplomatic ramifications.

FINALLY COMPLETE THE BIOMETRIC ENTRY-EXIT VISA TRACKING SYSTEM: Although mandated by law since Bill Clinton was president, the United States has yet to develop a system to track foreign visitors and determine if they leave the country when their visas expire. Getting a program up and running would require significant funding to collect and store biometric data such as fingerprints for every visa holder who enters and leaves the United States, and some experts have said the system is not practical.

TURN OFF THE JOBS AND BENEFITS MAGNET: Trump would need congressional approval to mandate a national database known as E-Verify that allows employers to check the immigration status of potential hires. Until such a system is in place, it is difficult to penalize employers who unknowingly hire undocumented immigrants using fake social security numbers.

REFORM LEGAL IMMIGRATION TO SERVE THE BEST INTERESTS OF AMERICA AND ITS WORKERS: The Department of Labor, the Department of Homeland Security and the Justice Department could  increase investigations of employers suspected of abusing visa programs such as H-1B that allow companies to hire foreign workers, often for a lower cost than what they would pay Americans. But Trump could face backlash from industries that rely on the program, including the technology sector, if he goes too far in revoking visas.

‘First ray of hope’ as German economy returns to growth

BERLIN ( ) – Germany’s spluttering economy returned to growth in the first quarter as consumers spent more freely and construction activity picked up, but the government said the outlook remained clouded by trade disputes.

Gross domestic product (GDP) rose 0.4% quarter-on-quarter, Wednesday’s Federal Statistics Office data showed. Year on year it grew a calendar-adjusted 0.7%. Both preliminary readings matched market expectations.

The rebound in Europe’s largest economy, which barely escaped recession in late 2018, helped drive an acceleration in the euro zone, and it takes some pressure off the European Central Bank (ECB) to provide fresh monetary stimulus to counter the effects of slowing global growth.

Economy Minister Peter Altmaier told the German figures offered a “first ray of hope”, but it was too early to give the all-clear.

“The international trade disputes are still unresolved. We must do everything possible to find acceptable solutions that enable free trade,” he said.

The U.S. and China have ramped up their trade conflict, and both countries are important markets for German exporters, meaning the tariffs are hurting their businesses too.

U.S. President Donald Trump may also this week increase tariffs on European car imports, which would have a disproportionate impact on Germany.

With global trade tensions an underlying drag on industrial activity last year too, Germany’s economy contracted by 0.2% in the third quarter and stagnated in the fourth.

The euro zone, which expanded 0.2% in the last three months of 2018, doubled that growth rate to 0.4% in the first quarter, the EU’s statistics office confirmed on Wednesday.

“Now it’s not the time for the ECB to implement new measures to stimulate the economy,” Christian Lips from NordLB said. “Still, the first rate hike is unlikely to happen before mid-2020.”

TURBULENT

Headwinds from abroad suggest any German growth rebound this year is likely to be modest.

The Economy Ministry said that, while the strong domestic economy had weathered a turbulent global environment, exports and industrial output were likely to remain subdued in coming months.

“The good start to the year …will only be sustainable if the external environment improves and the uncertainty particularly caused by trade conflicts decreases,” it said in a monthly report.

Altmaier, a confidant of conservative Chancellor Angela Merkel, repeated a call to support companies by cutting red tape and taxes. Finance Minister Olaf Scholz, a Social Democrat, has declined to cut corporate taxes, pointing to a tight budget.

The Statistics Office said first quarter growth was mainly driven by increased household spending and construction. Corporate investments in machinery and equipment also helped, while state spending was slightly negative.

“The trade development sent mixed signals as exports and imports both picked up,” the office said, leaving open the question whether net trade had a positive impact on GDP.

It will publish more detailed data next week which should shed more light on which sectors of the economy contributed to growth and to what extent.

“In normal times, today’s growth figures would be reason enough to revise up GDP projections,” DekaBank analyst Andreas Scheuerle. “But in light of the massive threats for world trade, economists are likely to keep their powder dry.”

Related CoverageGerman economic recovery hinges on resolution of trade conflicts: ministry

German expo上海龙凤419rters are also struggling with weaker foreign demand and uncertainty caused by Britain’s chaotic departure from the European Union.

The government halved its 2019 growth forecast to 0.5% last month. That would mark a sharp slowdown from expansions of 2.2% in 2017 and 1.4% in 2018.

“The economy still needs more investment, both from the private and public sectors, as well as new structural reforms,” said ING economist Carsten Brzeski.

Sanders wins Wyoming, prepares to take on Clinton in New York

WASHINGTON – Bernie Sanders won the U.S. presidential Democratic nominating contest in Wyoming on Saturday, besting rival Hillary Clinton and adding to a string of recent victories as the two candidates gear up for a crucial matchup in New York.

Sanders, a U.S. senator from Vermont, has won seven out of the last eight state-level Democratic nominating contests, trying to chip away at Clinton’s big lead in the number of delegates needed to secure the party’s nomination.

Wyoming’s 14 Democratic delegates – fewer than any other state – are awarded proportionally based on support from individuals participating in the nominating contest.

Early estimates showed that while Sanders won the contest, both he and Clinton would likely receive seven delegates each in the close race, maintaining Clinton’s lead overall.

Going into Wyoming, Clinton had more than half of the 2,383 delegates needed to win the nomination. Sanders trailed her by 250 pledged delegates, those awarded based on the results of the state nominating contests.

Clinton’s lead widens when superdelegates, Democratic leaders who can decide whom to support at the party’s July convention, are included in the tallies.

Clinton and Sanders both spent Saturday campaigning in New York, which holds its contest on April 19 and where a total of 291 delegates are up for grabs, more than 10 percent of the tally needed to win the party’s nomination.

Sanders’ wife, Jane Sanders, went onstage where he was speaking at a community college in Queens, a borough of New York City, to alert him to Saturday’s victory.

“News bulletin – we just won Wyoming!” Sanders said to cheers.

Speaking t上海419论坛o reporters after the event, Sanders said he believed he had enough momentum to secure the nomination.

“We are closing very fast,” Sanders said.

Clinton, a former U.S. secretary of state, campaigned in the nearby borough of Brooklyn, where her campaign is based.

Clinton represented New York as a U.S. senator and considers the state her home turf. Recent polls have shown Clinton more than 10 points ahead in the state.

Tension between the two candidates flared earlier this week in a party race that has typically focused on policies and not personal attacks. The candidates dialed back their criticism of one another on Friday.

In Wyoming’s Republican contest last month, U.S. Senator Ted Cruz of Texas beat New York billionaire Donald Trump, the party’s front-runner. Cruz is trying to block Trump from receiving enough delegates to win the nomination outright, which would lead to a contested convention in July.

A new /Ipsos poll shows that a third of Trump’s Republican supporters could consider abandoning the party’s candidate if Trump is denied the nomination at a contested convention.

Schmelzer furious after shocking defeat to Werder

Borussia Dortmund suffered another disappointment in the Bundesliga and their captain did not hold back in his game assessment.

Marcel Schmelzer described his team’s performance as a joke and ‘really shit’ after his side lost 2-1 to Werder Bremen in the German top-flight.

Bosz’s side remains without a single win in their last eight Bundesliga fixtures, even losing to Werder, who were the second-bottom before their clash with Borussia. Even though Pierre-Emerick Aubameyang scored one for Dortmund, becoming the highest African goalscorer in the Bungesliga history, goals from Maximilian Eggestein and Theodor Gebre Selassie sealed the three points for Werder Bremen.

Speaking to Sky after the game, Schmelzer did not hold back and gave an honest assessment of his team’s performance, who re now 13 points behind leaders Bayern MunichNiko Kovac urges Bayern Munich to remain ‘humble’ Andrew Smyth – Niko Kovac has called on Bayern Munich to stay focused and humble after thra爱上海419shing Tottenham 7-2 in the Champions League.

“This performance is a joke from us players,” Schmelzer told Sky.

“And I’ve been saying for weeks that we cannot always just talk, but act. Then we play like that, that’s amazing.

“I stand here every time and people probably think: he says the same thing over and over again.

“I do not understand how such a thing can happen in such a game. That was really s**t.”

Real didn’t sign Mbappe because of Ronaldo

Argentine legend Diego Maradona claims Real Madrid didn’t want to take the opportunity and sign Kylian Mbappe before he joined PSG, due to the presence o上海419论坛f Cristiano Ronaldo

Diego Maradona has admitted that he told Los Blancos president Florentino Perez what he thinks about Mbappe and that they should sign the France wonderkid before he moved to PSG. As we all know, that didn’t happen.

18-year-old Mbappe was a key player who helped fire Monaco to the Ligue 1 title last year, and his brilliant performances earned him the attention of several huge European clubs including Real Madrid, Paris Saint-Germain, Barcelona and Manchester City.

As it was reported over the summer, Real held talks with Monaco to secure the signature of Mbappe, before the teenage sensation decided for a move to the French capital on an initial loan with the obligation to make the move permanent for £166 million, GOAL reports.Opinion: Martin Odegaard is perfect for the Premier League Tomás Pavel Ibarra Meda – Given how much he’s been rejected by Real Madrid, we are convinced that Martin Odegaard is perfect for the Premier League.Martin Odegaard is finally…

The legend of Argentine football, Diego Maradona has since revealed that he told Florentino Perez to buy Mbappe, saying he thinks the Frenchman is the “revelation of football”. However, the Real president suggested Cristiano Ronaldo’s presence was one of the main reasons of them not signing Mbappe.

“For me, Mbappe is the revelation of football. I think he can surpass many. Why did they not sign him? I told Florentino to sign Mbappe. I told him when we saw each other at Fifa,” the Argentine legend told AS.

Maradona was asked about Perez’s response, and the former great replied: “He told me…’but you know I have Cristiano’.”

Well, PSG came out of this deal on top, that’s for sure. Mbappe has already netted 10 times across all competitions while playing for the Ligue 1 giants this season. The 18-year-old will have his chance to take on Ronaldo’s Real in the Champions League next year.

Rodriguez out with concussion

The Colombian forward did not even know the score at half-time.

Bayern Munich striker James 爱上海419Rodriguez will not be featured in the Bavarians’ training sessions for the next few days after suffering a concussion against Borussia Monchengladbach, confirmed Jupp Heynckes.

The Colombia international suffered a head injury as his team lost 2-1, which means the difference between Bayern and RB Leipzig has been cut to just three points. James was substituted at half-time by Marco Frield, but Jupp revealed that Rodriguez’ condition was far from good following the final whistle of the first 45 minutes.

“He didn’t even know the score at half-time. But we have to wait for the diagnosis of the doctors.” the German said, according to Goal.

Later the club revealed an official statement regarding the condition of their player that reads:Kovac cryptic about plans to stop Kane Nedim Maric – Bayern Munich will travel to North London in order to face Pochettino’s Tottenham in a Champions League derby.Bundesliga looks like it’s never been as…

 “James Rodriguez and Juan Bernat, who had to be subbed off in the 2-1 defeat to Gladbach, reported to club medic Dr Hans-Wilhelm Muller-Wohlfahrt for a thorough examination on Sunday.

“James sustained a concussion when he collided with Borussia’s Tony Jantschke. The Colombian will be under medical observation and unable to train for a few days.

“Bernat too will take a short break. The Spaniard sustained a minor muscular problem in his left thigh.”

Alba enjoying life in Catalonia after Neymar departure

The full-back is now given more space on the left-hand side.

Jordi Alba insists he finds more joy in playing for Barcelona after Neymar has left the club. The Brazilian became the most expensive footballer in history during the summer after Paris Saint-Germain triggered his release clause of €222m.

Despite the departure of Neymar, the Catalans have been dominating La Liga and are four points clear on top of the table. One of the beneficiaries for that is certainly Jordi Alaba, who has provided more assists than any other La爱上海 Liga defender this season – four.

The Spaniard, however, stated that he gets more space to attack on the left after Neymar left, which has made his experience in the club much better.

“He is a great player who, due to his circumstances or feelings or thoughts, decided to leave,” Alba told Mundo Deportivo.

“In the end, there are still many more guys who can do a good job and I am delighted with the people there.Griezmann opens up about Barca and Messi George Patchias – Antoine Griezmann discusses Barcelona, his ambitions and the relationship he has struck up with strike partner Lionel Messi.Griezmann arrived this summer in Catalonia from…

“As I said before, I have more space to run into and honest, for me, it’s much better.

“I have regained confidence. With more space on the left I am very comfortable and that is demonstrated in the field. I’m enjoying it in a way I haven’t for a long time.”

Jordi Alba also reflected on his relationship with Messi, whom he has been linking up with more often now that he has more opportunity and space to join the Catalans’ attacks.

“Understanding the best in the world is very easy,” added the defender. “His left foot is quite good for me.

“Since I arrived, we have always looked for each other. It is a privilege to play with him and I hope there are many more passes and connections.”

O’Neill certain that his team will cause problems to Switzerland

Northern Ireland are about to face Switzerland in the World Cup 2018 playoffs and their coach, Michael O’Neill, is sure that his side will be at least able to be a decent opponent despite being huge underdogs.

O’Neill knows that the first home fixture will be crucial – and his side have to gain a good result from this fixture if they want to keep their chances alive ahead of the reverse game in Basel. Switzerland lost just one match during their group stage campaign and they managed to gain the same amount of points as the group winner, Portugal, being behind just because of the goal difference.

The Northern Ireland coach spoke about his opponent as he said, according to BBC: “To win nine games and to miss out on qualification I am sure is not a particularly pleasant situation to be in as a coach or a group of players.  The Portugal game was almost a play-off. Now they find themselves in a playoff with us.”The Netherlands have a walk in the park in Estonia’s pitch Tomás Pavel Ibarra Meda – With a stellar performance from Ryan Babel, the Netherlands won their second consecutive UEFA Euro Qualifier against Estonia.After the impressive performance they offered in…

He also talked about his side’s confidence: “A self-belief has grown in the squad over the last three or four years which has put them in this position,” added the Northern Ireland boss. They see an opportunity that they don’t want to waste but they have done everything so far that I’ve asked of them and I’m sure they will do everything possible over the next two games 上海419论坛to try and make World Cup qualification a reality.”

O’Neill knows that it will be important to deal with the opening match well: “This is different from (the final Euro 2016 qualifier against) Greece when a win was going to take us to the finals. I don’t envisage that there will be a big margin between the two legs. It will be a tight playoff tie and the main thing for us is to ensure that we have something to take to Basel which is going to give us an opportunity in the second leg.”

Veratti believes PSG’s draw has nothing to do with Neymar

The Brazilian did not feature for the Parisiens due to an injury.

Paris Saint-Germain had a rather disappointing game against Montpellier with a result of 0-0. World-record signing Neymar was forced to watch the game from the stands as he was reported with an injury ahead of the game.

Despite completely dominating possession, Emery’s side had on爱上海ly one shot on the target. However, Veratti, who was once again in the starting XI after serving a three-game ban, insisted the absence of Neymar was not the reason behind the team’s failure.

“Everyone thinks like that. It’s like Barcelona without [Lionel] Messi or Real Madrid without Cristiano Ronaldo – it is not because Neymar was not there that PSG hasn’t won,” Verratti told Canal +.

“We are a great team, even without him. It will just be a matter of turning words into action the next time the situation arises.”Gianluigi Buffon delighted to break Paolo Maldini’s record Andrew Smyth – Juventus goalkeeper Gianluigi Buffon was “very proud” after breaking Paolo Maldini’s record for the most appearances at club level.

“It was a tough game, there was not a lot of space,” said Verratti.

“We played at 100 per cent. The concentration is there. We did not let Montpellier have a single shot.

“It got harder to score the longer the time went on. We did have opportunities.

“After six matchdays, it can happen that there is a difficult one. Now we have to think about the Champions League.”

Klopp hints Liverpool’s summer spending might be over

The Reds might not add any new members, but nothing is certain yet.

Liverpool won their last pre-season friendly against La Liga side Atheltic Bilbao with a comfortable score of 3-1. Roberto Firminho from penalty, Ben Woodburn and Dominic Solanke scored for the Reds.

Liverpool are still on the lookout for new signings, but Klopp insisted that he was really impressed with a number of footballers, who underperformed in the past, which may lead to the end of their summer spending.

“We always said that until 31st August we run through the world with open eyes,” Klopp said, according to DailyMail. “It’s clear. We don’t decide alone, it’s other clubs. It’s all about others clubs. I thought this pre-season brought us new players, if you want.”

“Alberto Moreno is 1上海龙凤41900 percent back, which is very nice after a really difficult year. Andrew Robertson shows all the skills. He, of course, still has to adapt because he’s not here too long, but you can already see what a threat he is going to be offensively.Liverpool could be kicked out of the Carabao Cup Andrew Smyth – Liverpool face a nervous wait to discover their Carabao Cup fate after falling into hot water with the Football League over selecting ineligible players.

“That means Milly [James Milner] is free from midfield, so without being in the transfer market we have a new midfield player, which is nice. Dom Solanke, he already showed that he is ready for some adult football. Ryan Kent, I know him one and a half years.

“Last year he developed unbelievably and this preseason is completely different to last pre-season. Without too much money for these players, because they were pretty much already ours, we have additions in the squad so that’s good.”

Isco sees his future at Real Madrid

Following the game against Sporting Gijon, Isco hinted that he could sign an extension with the club  Written by Bertel Østergaard. April 15, 2017

Isco was the player to watch yesterday against Sporting Gijon. He scored two goals and secured Real Madrid an important victory against Sporting Gijon.

The Spain international has been struggling to get regular playing time under Zi爱上海419dane in this La Liga campaign and has been frequently link with a move away from Santiago Bernabéu.

Reports suggest that the 24-year-old midfielder has an offer on the table, and Isco said he will make the right decision about his future along with Real Madrid. Isco told Marca following about a possible contract extension:

– I have always made it clear that I want to be here for many years. I don’t know why it surprises people that I want to play more.Inter Milan V Lazio: Players to Watch Taimoor Khan – Inter Milan are set to host Lazio at the San Siro on Thursday and the game is definitely going to be an exciting affair…

– I want to stay in Madrid and for many years, both the club and I are going to make the right decision.

Isco has made just 15 league start this La Liga campaign, where he has scored nine times in the league and made five assist.

Isco and Real Madrid will play Bayern München in the second leg of the Champions League quarter-finals on Tuesday with kick off at 20:45 CET at the Santiago Bernabéu.

Real Madrid won the first leg 2-1 thanks to two scorings by their star player Cristiano Ronaldo.

SoftBank says Vision Fund 2 could start investing soon, bags big gains on first

TOKYO ( ) – SoftBank Group Corp’s (9984.T) second Vision Fund could start investing as soon as next month, founder and Chief Executive Masayoshi Son said, as the technology conglomerate reported a leap in profits at its first $100 billion fund.

SoftBank said last week it had secured $108 billion in pledges for its Vision Fund 2 (VF2) from participants including Microsoft Corp (MSFT.O) and Apple Inc (AAPL.O), without breaking out their individual contributions.

The anchor investors from the first fund, Saudi Arabia and Abu Dhabi, are showing “high interest” in taking stakes and negotiations are ongoing, Son said on Wednesday after SoftBank turned in first-quarter operating earnings that blew past consensus estimates.

That result was aided by a stellar performance at the first Vision Fund, whose operating profit jumped 66% on year to 397.6 billion yen ($3.74 billion) for the three months ended June.

SoftBank is relying on proceeds from the first Vision Fund (VF1) along with other assets to bankroll its $38 billion contribution to the second fund.

“Vision Fund 2 could start investing pretty soon, next month or the month after,” Son said.

With the first fund having spent much of its capital on fast growing, late-stage startups like Uber (UBER.N) and WeWork parent The We Company, SoftBank is now turning its attention to the second fund to maintain its oversized industry presence.

“Many Japanese companies are sailing using an old map. Using our new map we are looking for a new continent,” Son said.

The first fund’s $66.3 billion investment in 81 firms is now worth $82.2 billion, as the value of its bets in firms like hotel chain OYO, workplace messaging app Slack (WORK.N) and delivery service Doordash has grown.

But much of the fund’s gains are paper profits, with its unrealized gains in the first quarter at 604 billion yen.

That was, however, offset by 195 billion yen in unrealized losses from a drop in value of its stake in firms like ride-hailing firm Uber, which is trading below its IPO price.

SoftBank’s results have been increasingly volatile as Son shifts focus from the predictable income of telecoms in favor of bets on startups with shifting valuations.

The group raked in a quarterly operating profit of 688.8 billion yen, outstripping a 336 billion yen estimate from five analysts compiled by Refinitiv.

The number was, however, down 3.7% from a year ago when results were propped up by a stake sale in chip designer Arm’s China business.

SoftBank’s shares, which have rise 42% this year, closed down 0.2% a爱上海head of the earnings.

Novartis CEO pledges not to sell Sandoz generics unit

ZURICH ( ) – Novartis (NOVN.S) Chief Executive Vas Narasimhan pledged in an interview published on Saturday not to sell the Swiss drugmaker’s generics unit Sandoz amid a revamp that has prompted speculation he is preparing to offload the business.

“No, we will not sell Sandoz,” Narasimhan told the Sueddeutsche Zeitung newspaper. “We will make Sandoz autonomous within Novartis, so it’s more competitive. Our plan is to focus Sandoz and make it better in the long-term.”

Novartis is revamping Sandoz, a process Narasimhan has previously said will take roughly the next year and a half. He has already sold a generic U.S. pills business and dermatology assets that were under extreme price pressure, and has suggested other divestitures may be forthcoming.

These changes, along with the departure of Sandoz’s former CEO in March, have prompted some analysts to predict Narasimhan may eventually exit generics.

Sandoz, which last year had nearly $10 billion in sales, upgraded its full-year sales target on July 18, holding out the possibility of low-single-digit percentage sales growth, up from a previous prediction of “broadly in line” with 2018.

In the first half of 2018, Sandoz’s business with biosimilar copies of branded blockbusters in Europe helped offset a U.S.上海龙凤419 business that remains under price pressure.

Narasimhan also said he planned to keep both Sandoz and Hexal brands in Germany. “There will be no changes here,” he told the newspaper.

Takeaway.com lands $10 billion Just Eat deal in food delivery race

LONDON/AMSTERDAM ( ) – Amsterdam-based Takeaway.com (TKWY.AS) has agreed to buy Just Eat (JE.L) in an 8.2 billion pound ($10.1 billion) deal to create the world’s largest online food delivery firm outside China in a race to rule the $100 billion market.

A combined Takeaway and Just Eat would rival Uber Eats (UBER.N) and would have leadership positions in many of the world’s largest food-delivery markets, including the United Kingdom, Germany, the Netherlands and Canada.

Scale is all-important as food delivery apps scramble to offer consumers the biggest choice. Most players, though not Just Eat, are still loss-making as they spend heavily on marketing and acquisitions.

Just Eat, founded in Denmark in 2000, is principally an online marketplace that connects restaurants and customers, although it has more recently begun offering its own delivery service, like Uber Eats and Amazon-backed (AMZN.O) Deliveroo.

The agreement with Takeaway, a driver of sector consolidation, represents a victory for U.S. activist i爱上海419nvestor Cat Rock, which has holdings in both companies and has been pushing Just Eat to merge with a rival.

“The proposed transaction is excellent news for Just Eat shareholders,” Cat Rock Founder and Managing Partner Alex Captain, said in a statement. “We support the Board’s work in evaluating and consummating a transaction that maximizes long-term shareholder value over the coming weeks.”

Based on 2018 order value, the combined company would narrowly overtake Uber Eats, with orders worth $8.1 billion versus its U.S. rival’s $7.9 billion. Uber Eats declined to comment on the planned deal, which has been agreed in principle.

Under British takeover rules, Takeaway.com has until Aug. 24 to announce a firm intention to make an offer or to announce that it will not make an offer. The deal would then have to be approved by the companies’ boards and shareholders.

Investors in London-listed Just Eat will receive 0.09744 Takeaway.com shares for each share, implying a value of 731 pence per Just Eat share, a 15% premium to their closing price on Friday, the two companies said on Monday.

Shares in Just Eat, which made a pretax profit of 102 million pounds in 2018, rose 26% to 800 pence, indicating expectations of a higher competing bid, while Takeaway’s were up 2.6% at 1339 GMT.

“It’s a fair price in that you get a large share of Takeaway.com and you share the benefits as shareholders,” said Philip Webster, fund manager at BMO Global Asset Management, which owns stakes in both Just Eat and Takeaway.

Webster added that the value for Takeaway shareholders potentially could be in splitting up Just Eat. “At 730 pence, if you look at any valuation on Brazil or Canada (…) you get the UK business for a very, very discounted price,” he said.

Related CoverageActivist investor Cat Rock calls Just Eat, Takeaway.com deal ‘excellent news’

Takeaway, which bought the German activities of Delivery Hero for 930 million euros this year, says it is the leading food deliverer in continental Europe, Israel and Vietnam.

It argues that online food ordering will be highly profitable for just one player in each country.

Investec analysts said there was limited geographical overlap between the two, with the exception of Switzerland.

“(This) means the opportunity revolves around leveraging technology spend and administrative costs, in our view, and the sharing of best practice” Investec said. “This is presumably not insignificant, but less attractive than if they overlapped.”

Analysts do not expect the latest deal to face anti-trust hurdles, although Britain’s competition regulator is considering a full investigation into Amazon’s plan to lead a $575 million fundraising in rival Deliveroo, announced in May.

Just Eat, which originally focused on independent takeaway restaurants that offered pick-up or delivery services, charges a fee to join its platform and earns a commission on each order.

BUILDING SCALE

Just Eat has since upgraded its technology, launched its own delivery services using experience gained from its purchase of Canada’s SkipTheDishes.com, and struck deals with fast-food chains like Burger King, Subway and KFC.

But the strategy shift caused earnings momentum to slow sharply and Chief Executive Peter Plumb stepped down in January amid shareholder pressure. Just Eat has yet to find a permanent replacement for him.

Barclays analysts said merging with Takeaway would give Just Eat shareholders “the best operator in the space to run the business – a notable shift from missed execution from management in the last few years”.

But the picture for Takeaway was more nuanced, with exposure to “a much messier story from a competitive and execution perspective”.

On the other hand, Just Eat shares were still quite cheap and the value of being a global player would only increase over time, they said, adding: “This is a unique opportunity to build scale and that should benefit both parties in the long term.”

Just Eat shareholders will own 52.2% of the combined group, which had 360 million orders worth 7.3 billion euros in 2018.

Mike Evans, Just Eat’s chairman, will chair the combined group, while Takeway.com chief executive Jitse Groen will assume the role of CEO at the company, which will be incorporated, headquartered and domiciled in Amsterdam.

Walmart to invest $1.2 billion in China to upgrade logistics

BEIJING ( ) – Walmart Inc (WMT.N) plans to invest 8 billion yuan ($1.2 billion) in China over the next 10 years to upgrade logistics, the U.S. retail giant 爱上海said on its social media account on Monday.

The company will also set up or renovate more than 10 logistics centers in the country.

The comments followed a meeting between President Donald Trump and his Chinese counterpart Xi Jinping over the weekend in Osaka, Japan that rekindled hope for a U.S.-China trade deal.

Walmart has been pushing to integrate its retail network in China with the country’s burgeoning “smart retail” movement, as retailers and tech giants such as Alibaba Group Holding Ltd (BABA.N) and Tencent Holdings Ltd (0700.HK) cut deals to combine online and high-street shopping.

In China, the company last year opened its first small high-tech supermarket, where smartphones can be used to pay for items that are mostly available on the U.S. retailer’s store on online platform JD Daojia, an affiliate of JD.com Inc (JD.O).

Walmart operates a number of formats in China, including hypermarket, Sam’s Club and Walmart supermarket, with 400 retail units covering more than 180 cities nationwide.

Last month, French retailer Carrefour agreed to sell 80% of its Chinese operations to electronics retailer Suning.com for 620 million euros.

UK’s Farage says Trump concerned by Brexit delay after meeting

LONDON ( ) – Nigel Farage, leader of the Britain’s Brexit party, said U.S. President Donald Trump told him in a meeting on Tuesday that he was concerned at how long it was taking Britain to leave the European Union.

Trump has said he considers Farage, who was a major player in the campaign for Britain to leave the EU during the 2016 referendum, a friend and has called him a “smart person”.

Farage said he had enjoyed a “good meeting” with the president and added that Trump was enjoying his state visi爱上海t to Britain, which began on Monday.

“He absolutely believes in Brexit, thinks it’s the right thing for the country to do, and he’s concerned that it seems to be taking a very long time,” Farage said on his LBC radio show.

Farage was one of the first Britons to visit Trump in New York following his 2016 election victory, and the president recently described him as “a friend of mine.”

In an interview at the weekend with the Sunday Times newspaper, Trump said: “I like Nigel a lot. He has a lot to offer – he is a very smart person.”

Farage was pictured by a photographer arriving at the U.S. ambassador’s residence in London where Trump is staying during his state visit after the president returned there following a news conference with Prime Minister Theresa May.

Trump earlier said May deserved a lot of credit for her work on Brexit.

May’s Brexit deal has been defeated by British lawmakers three times, and Farage, a lawmaker in the European Parliament, has been one of her staunchest critics, saying Britain should not be afraid to leave without a deal on future relations with the EU.

May has been forced to delay Brexit until Oct. 31 after failing to pass her deal.

Trump is holding discussions with several other British politicians, including some, like Farage, who are May’s critics.

Brexit-supporting Conservative lawmakers Owen Paterson and Iain Duncan Smith were also seen at the Winfield House residence on Tuesday, while the favorite to succeed May, Boris Johnson, spoke with him on the phone for 20 minutes earlier on Tuesday.

But Trump said he had declined a request from British opposition Labour leader Jeremy Corbyn for a meeting.

U.S. must have access to U.S.-listed Chinese firms’ audit…

WASHINGTON/HONG KONG ( ) – A bipartisan group of U.S. lawmakers introduced a bill on Wednesday to force Chinese companies listed on American stock exchanges to submit to regulatory oversight, including providing access to audits or face delisting.

Chinese authorities have long been reluctant to allow overseas regulators to inspect local accounting firms – including member firms of the Big Four international accounting networks – citing national security concerns.

In spite of a 2013 agreement that ended a stalemate over the issue and allowed U.S. regulators to request audit working papers in China, there have been difficulties in actually gaining access.

At least two Hong Kong-based audit firms have been barred from auditing U.S.-listed companies because they could not produce the papers U.S. regulators asked for.

“Beijing should no longer be allowed to shield U.S.-listed Chinese companies from complying with American laws and regulations for financial transparency and accountability,” Republican Senator Marco Rubio said in a statement.

Last year the U.S. Securities and Exchange Commission (SEC) and the Public Company Accounting Oversight Board (PCAOB) issued a warning to investors about the difficulties U.S. regulators faced in inspecting the audit work and practices of auditing firms in China that examine U.S.-listed Chinese companies.

There are currently 156 U.S.-listed Chinese companies with a combined market capitalization of $1.2 trillion, including Alibaba Group Holding Ltd, and oil and gas giant China Petroleum & Chemical Corp (Sinopec).

Democratic Senator Bob Menendez, who joined in sponsoring the bill, said on Tuesday: “It’s time for China’s government to play by the same rules as American companies in our financial markets.”

Paul Gillis, professor of practice at Peking University’s Guanghua School of Management, said in a blog post he thought the bill had a good chance of passing and start a three-year countdown for negotiations or for the companies to find another listing home.

“I expect most of them will move their listings to Hong Kong. Mainland exchanges are not ready for most of these companies,” he said.

Many U.S.-listed Chinese firms have complex governance structures such as weighted voting rights (WVR) which are currently not allowed for firms listed on mainland exchanges.

Hong Kong Exchanges and Clearing Ltd changed its rules last year to allow listings by companies with weighted voting rights, though its rules differ markedly from those in the U.S.

Alibaba is considering a second listing in Hong Kong, which could raise as much as $20 billion, reported last week.

Advisers and others close to the potential Alibaba deal downplayed any Sino-U.S. trade war reasoning for the move, but analysts at the time said the context and geography could not be ignored.

Eight Chinese compani爱上海419es have listed in the U.S. so far this year, raising $1.2 billion, according to Dealogic data.

SoftBank mulls IPO of $100 billion Vision Fund: source

( ) – Japan’s SoftBank Group Corp is considering an initial public offering of its $100 billion Vision Fund, a source familiar with the matter said on Friday.

The fund was set up in 2017 and has become the world’s largest technology investment fund. Its investments include ride-hailing pioneer Uber, chip designer ARM and shared workspace firm WeWork.

The company has publicly stated it plans to set up a second investment fund. The senior banking source said Softbank was now talking to banks about helping it raise money, confirming an earlier report in th爱上海419e Wall Street Journal.

Softbank has spoken to half a dozen banks over the last month about a potential listing of the Vision Fund but has yet to start a formal process, the source said, adding he was not expecting such a process in the near term.

“They asked banks questions on how they could possibly do it. It is still very much in exploration mode,” the source said, adding that Softbank had been possibly given the idea by fellow tech investor Naspers, which plans to list some of its assets.

“The big difference is that the biggest asset in the Naspers portfolio is Tencent, which is listed, whereas the portfolio of the Vision Fund is all private,” the source said.

China’s Tencent Holdings Ltd is a social media and gaming company listed in Hong Kong.

A spokesman for Softbank declined to comment when contacted by .

SoftBank is also in talks with Oman for an investment in the fund, which has raised nearly all of its funding so far from Saudi Arabia and Abu Dhabi, according to the WSJ report.

Oman was not immediately available for a comment when contacted by , nor was there an immediate response from the Japanese conglomerate.

SoftBank is seeking to raise new funds for “informal deals” chief executive officer Masayoshi Son negotiated in China for Vision Fund, one of the people told WSJ.

The fund is also planning to double its staff over the next 18 months to keep up with the pace of deal making by SoftBank, the company’s top deputies reportedly said at a conference in Los Angeles this week.

French tycoon Niel to sell mobile towers to Cellnex for $3 billion

PARIS/MADRID ( ) – French tycoon Xavier Niel has agreed a 2.7 billion euro ($3.02 billion) deal to sell mobile towers in France, Italy and Switzerland to Cellnex as he seeks to bolster the finances of his telecoms group Iliad.

Iliad burned through 1.44 billion euros in cash in 2018, twice as much as in 2017, and has lost half its market value over the last year.

The deal by billionaire Niel, considered a maverick in France’s telecoms sector, follows a similar one by French rival Bouygues Telecom in 2017 under which it sold about 3,000 mobile sites to Cellnex for 900 million euros.

For Spanish towers group Cellnex, the acquisitions of thousands of new sites in the three countries allow it to上海龙凤419 extend its reach in Europe, where it has grown considerably over the past few years and is now seen as a key player in a potential consolidation of the telecoms infrastructure market.

Iliad shares were 5.6 percent up at 0926 GMT, while Cellnex’s were 6.6 percent higher.

“This is quite a sensible move for them for two reasons: one is that it gives Iliad the financing to roll out in Italy, second … Cellnex will end up having much better utilization of the infrastructure,” said Karen Egan, an analyst at Enders.

Iliad, which has shaken up the French mobile market since 2012 with low-cost services, is facing aggressive fixed and mobile discounts from rivals in its home country.

Part of the proceeds from the towers sale will help to cut its debt and invest in networks in both France and Italy, it said. The deal was announced hours before Iliad’s investor day in Paris on Tuesday.

TRANSFORMATIONAL

Analysts say the 2.7 billion euro investment is transformational for Cellnex, increasing by 75 percent earnings before interest, tax, depreciation and amortization (EBIDTA) and doubling its recurrent leveraged free cash flow.

It would allow the Spanish group to take control of Iliad’s 5,700 sites in France and the 2,200 in Italy. It would also take control of the mobile towers of Salt, the Swiss telecom operator privately-owned by Niel.

Cellnex also intends to spend an additional 1.35 billion euros on the roll-out of 2,500 new sites in France, 1,000 sites in Italy and 500 in Switzerland between 2020 and 2027. 

“This is a big deal for Cellnex and materially increases the scale. We further believe there remains further opportunities for Cellnex to continue to do deals,” said Credit Suisse in a note to clients.

Cellnex Chief Executive Tobias Martinez said on a conference call Britain’s CTIL would be an appealing target but reiterated it could not afford to invest in France’s TDF, which Spanish newspaper Expansion said it was considering.

Iliad, whose first-quarter sales grew by 7.7 percent to 1.29 billion euros, said it targeted a return to revenue growth in France in 2019 and an acceleration of its core operating profit growth in the second-half of the year.

U.N. envoy Haley is latest in parade of White House departees

WASHINGTON ( ) – Nikki Haley became the latest senior official to exit the Trump administration when she said on Tuesday she will resign at year-end as U.S. ambassador to the United Nations.

Here are some others who have been fired or quit the White House since Trump took office on Jan. 20, 2017

2018

Don McGahn – Trump said in late August that the White House counsel would step down after the Senate confirmed Supreme Court nominee Brett Kavanaugh, which happened on Saturday. The Trump-McGahn relationship was strained by an investigation into Russian interference in the 2016 U.S. presidential election.

Scott Pruitt – The Environmental Protection Agency chief, a Trump favorite for attacking regulations, resigned on July 5 under heavy fire over a series of ethics controversies.

Ronny Jackson – The White House physician withdrew from consideration to head the Veteran Affairs department on April 26 amid allegations he was lax with prescription drugs and drank alcohol on the job. He also ceased working as Trump’s doctor.

David Shulkin – White House officials said on March 28 the Veteran Affairs secretary would resign. Shulkin had become a distraction due to a wave of speculation about his future.

H.R. McMaster – The national security adviser was replaced on March 22 with John Bolton, according to a Trump tweet.

Andrew McCabe – The deputy FBI director was fired in mid-March by Attorney General Jeff Sessions. McCabe said he was targeted for being a witness into whether Trump tried to obstruct the probe of Russian meddling in the 2016 election.

Rex Tillerson – The secretary of state was fired by Trump on March 13 after rifts between them over international issues.

Gary Cohn – The National Economic Council director and former Goldman Sachs Group Inc president said on March 5 he would resign. He lost a fight to try to stop Trump from imposing import tariffs on steel and aluminum.

Hope Hicks – The White House communications director, a long-serving and trusted Trump aide, resigned on Feb. 28.

Rob Porter – The White House staff secretary resigned in February after accusations of domestic abuse from ex-wives.

2017

Omarosa Manigault Newman – Fired as assistant to the president in December, the former reality TV star later wrote a book, “Unhinged: An Insider’s Account of the Trump White House.”

Richard Cordray – The U.S. Consumer Financial Protection Bureau’s first director quit in November.

Tom Price – The Health and Human Services secretary resigned under pressure from Trump on Sept. 29 in an uproar over Price’s use of costly private charter planes for government business.

Stephen Bannon – Trump’s chief strategist, a force behind Trump’s anti-globalization/pro-nationalist agenda, was fired by Trump in mid-August after clashing with Wh爱上海ite House moderates.

Anthony Scaramucci – The White House communications director was fired by Trump in July after 10 days on the job, following profanity-laced comments to The New Yorker magazine.

Reince Priebus – Replaced as chief of staff by John Kelly, Priebus lost Trump’s confidence after setbacks in Congress.

Sean Spicer – Resigned as White House press secretary in July, ending a turbulent tenure.

Walter Shaub – The head of the U.S. Office of Government Ethics, who clashed with Trump, stepped down in July.

Michael Dubke – Resigned as White House communications director in late May.

James Comey – The FBI director, who was leading a probe into possible collusion between the Trump 2016 presidential campaign and Russia to influence the election, was fired by Trump in May.

Katie Walsh – The deputy White House chief of staff was transferred to the outside, pro-Trump group America First Policies in March.

Michael Flynn – Resigned in February as Trump’s national security adviser after disclosures that he discussed U.S. sanctions on Russia with the Russian ambassador to the United States before Trump took office. Flynn later pleaded guilty to lying to the FBI. He is set to be sentenced in December.

Sally Yates – Trump fired the acting U.S. attorney general in January after she ordered Justice Department lawyers not to enforce Trump’s immigration ban.

China’s bankers in uncharted waters as Shanghai launches U.S.-style…

SHANGHAI/HONG KONG ( ) – As Chinese investment banker Liu Guangfu prepares to file an application for his client to list on Shanghai’s Nasdaq-style technology board, he is heading into uncharted waters: how to price the new shares and sell them to the right investors.

Until now, guidance set by Chinese regulators on the pricing of initial public offerings (IPO) has led to artificially depressed valuations, making it easy for bankers to find investors.

“Selling IPO shares was easy before,” said Liu, whose client, a maker of high-end equipment, is seeking an IPO on Shanghai’s new Science & Technology Innovation board, which is due to launch as early as June.

“Now, you need to find interested investors and talk about the future of the company, and the industry. It’s time-consuming and costly.”

Liu and other Chinese bankers are entering a new world as Shanghai launche,419同城论坛Caden,s its new board, complete with the country’s first registration-based IPO system that is seen by some as the boldest reform yet in China’s capital markets.

The pilot project, likely to be expanded if it proves successful, is making China’s bankers nervous though, as they are more used to the paternalistic guidance of regulators than the debates – often contentious – between executives, bankers and investors that form the basis for deals priced in leading IPO centres such as Hong Kong and New York.

“It’s a huge challenge to us,” said Chang Houshun, managing director at Sinolink Securities in Shanghai, who described previous IPO underwriting efforts as “mechanical”.

The reforms will do away with government control of IPO quality and timing, and allow still loss-making new company start-ups to list.

It will also end the unofficial, but always observed, pricing cap of 23 times a company’s trailing profits – a ceiling that tended to ensure new floats a hefty 44 percent jump on debut, the maximum allowed.

Without government guidance, Chinese bankers, like their western peers, have to set IPO prices that reflect a company’s growth potential and risks, as well as the market mood and issuers’ expectations.

The seismic rule change will likely accelerate market consolidation and weed out weak players, Chang said: “You will see China’s Goldman, Citi and JP Morgan emerge. Apart from several dominant players, not many will be left.”

BASIC SKILLS

That fear and a desire to win new business has triggere,上海后花园论坛靠谱吗Fabi,d a scramble among Chi,上海419后宫阁Balthazar,nese brokerages to hone their skills.

Many are replenishing their capital since the new market – unlike Hong Kong or New York – requires underwriters to share the risk and subscribe for between 2 percent and 5 percent of each IPO they sponsor on the new board.

Underwriters must then hold the stake for at least two years.

At least one brokerage, Shenwan Hongyuan Group Co Ltd, has reorganised its investment bankers into industry teams to try to develop specialist knowledge in sectors including technology and healthcare – skills not needed before. The company is also raising funds via a $1.16 billion listing in Hong Kong.

“We’re moving toward the structure of a global investment bank,” said Tu Zhengfeng, managing director of Shenwan Hongyuan’s underwriting unit.

“It’s increasingly important to identify a company’s intrinsic value, and you need expertise to do that.”

The brokerage is also building its distribution capacity, which was redundant when IPO shares were almost always hotly sought after by investors as pricing favoured a strong market debut.

Roadshows – a staple of western deals, where executives meet would-be investors – have long been considered formalities in Chinese IPOs.

“Now, you need to tell investors a company’s story well – investment highlights, why it’s worth buying, and how prices are set,” said Tu.

Zhao Jun, investment banker at China Securities Co Ltd, said bankers also need a stronger network of contacts to source IPO candidates, especially in the tech sector.

“Now, we need to consult with industry experts, work closely with our analysts, and even communicate with some investors who can help us understand the technology,” Zhao said.

ANXIETY

Peng Yigang, a senior executive at Shanghai Stock Exchange’s listing department, said there was a general feeling of anxiety among applicants and bankers.

“Many people come to us, asking for an answer (regarding their IPO applications). I said, sorry, we cannot give you an answer. Under the registration system, regulators no longer give you any answers. The market will decide,” he told a recent seminar.

Nearly 100 companies have submitted applications to list on the tech board.

To be sure, many bankers are sceptical that regulators will give up providing guidance completely, at least during the early stage, when demand will likely far exceed supply, potentially lifting valuations to extreme levels and raising the risk of a frothy market.

Previous attempts to help start-ups to list, such has Shenzhen-based Chinext, have largely foundered because early specul上海419论坛ation sent prices soaring, only to later collapse spectacularly, souring investor sentiment to a point from which it never recovered.

Indeed, Hu Ruyin, former chief economist of the Shanghai Stock Exchange, said the broader opening up of financial markets in China posed a significant threat to the industry because it has had little experience pricing risks.

“Before you swim in the sea, you must learn how to swim in the pool. Otherwise, you would be drowned.”

Republicans seek sanctions on Iraqi militias with Iran ties

WASHINGTON ( ) – Republican U.S. senators plan to introduce legislation on Wednesday seeking to counteract what they see as Iran’s increasing influence in Iraq, amid concern about attacks in Iraq by groups U.S. officials consider Iranian proxies, a Senate aide said on Wednesday.

Among other things, the bill, whose text was seen by , would impose terrorism-related sanctions on Iranian-controlled militias and require the U.S. Secretary of State to publish and maintain a list of armed groups receiving assistance from the Iranian Revolutionary Guard Corps, or IRGC.

Sponsors of the “Iranian Proxies Terrorist Sanctions Act” include Senators David Perdue, Ted Cruz and Marco Rubio. A similar bill, backed by Republican Representative Ted Poe, has been introduced in the House of Representatives.

There was no immediate word on when the legislation might be considered by congressional committees, normally the first steps toward becoming law.

Three mortar shells landed inside Baghdad’s heavily fortified Green Zone just after midnight local time on Friday, the first such attack in several years in the area, which houses parliament, government buildings and many foreign embassies.

On Tuesday, the United States warned Iran that it would “respond swiftly and decisively” to any attacks by its allies in Iraq that resulted in injury to Americans or damage to U.S. facilities.

reported last month that Iran had given ballistic missiles to Shi’ite Muslim proxy groups in Iraq and was developing the capacity to build more there, a development likely to exacerbate tensions between Tehran and Washington, already heightened by President Donald Trump.

In May, Trump withdre爱上海419w the United States from a 2015 international nuclear accord with Iran and ordered the reimposition of U.S. sanctions suspended under the deal aimed at stalling Tehran’s nuclear capabilities.

Iran’s Sunni Muslim Gulf neighbors and its arch-enemy Israel have expressed concerns about Tehran’s regional activities as a threat to their security.

White House calls for Fed to reverse U.S. rate hikes

WASHINGTON/NEW YORK ( ) – U.S. President Donald Trump said on Friday that the Federal Reserve made a mistake by raising interest rates and blamed the central bank for hurting the U.S. economy and stock market.

“Had the Fed not mistakenly rai上海419论坛sed interest rates, especially since there is very little inflation, and had they not done the ridiculously timed quantitative tightening, the 3.0 percent GDP, & Stock Market, would have both been much higher & World Markets would be in a better place!,” Trump tweeted.

The remarks were part of a new attack the White House has launched against the independent central bank in their unusual public split. The Fed’s Board of Governors did not immediately comment.

No fewer than five Fed officials this week have touted the underlying strength of the American economy and argued a recent spate of weak data on business activity is more likely to prove fleeting than lasting. None said they currently back a rate cut.

Prior administrations have taken care not to comment on Fed policy, but Trump has railed repeatedly against the U.S. central bank’s rate hikes. Friday’s comments were uniquely specific about the course of action now favored by the president.

The president’s top economic adviser said the White House would like the Fed to reverse some recent rate hikes and stop shrinking its bond holdings to protect the U.S. economy from weakness overseas. Some Fed policymakers and other economists have credited U.S.-China trade tensions or tariffs under the current administration as a factor behind the slowdown and market swings.

“This is our view. This is his view. This is my view,” National Economic Council Director Larry Kudlow told CNBC on Friday, confirming that he had told news webs,上海419后花园论坛Hal,ite Axios that he would like the Fed to cut rates by a half-percentage point and stop cutting its bond holdings.

“The Federal Reserve is an independent central bank. They’re going to do what they’re going to do.”

Stephen Moore, a prospective presidential nominee to an open seat on the Fed Boa,爱上海北京验证论坛Gabi,rd, also weighed in on Friday.

He told Fox News that he would consider reversing the Fed’s December interest rate hike but said he was not necessarily in favor of the half-point rate cut recommended by Kudlow. Moore was quoted as saying he favored such a cut by the New York Times on Tuesday.

The Fed last week brought a three-year rate-hike cycle to an abru,上海后宫阁419Dallas,pt end as it abandoned projections for any further increases in borrowing costs this year and said it would stop shrinking its bond holdings in September.

The central bank bought bonds in the aftermath of the financial crisis to stimulate the economy but started letting those holdings run off in 2017 in an effort to put its policy back on normal footing.

While Kudlow said he felt the Fed had gone too far with rate hikes, he said the Trump administration was standing by Fed Chairman Jerome Powell.

“He’s our chairman. We’re not going to displace him.”

Uber drives Middle East mapping push ahead of IPO: source

BENGALURU ( ) – Uber Technologies Inc is six months into a major mapping project that fills holes in its coverage of Middle Eastern cities ahead of a possible takeover of regional rival Careem Networks and this year’s hotly anticipated initial public offering, according to a source with knowledge of the project.

A team of 28 engineers and other staff, working for Indian tech sector outsourcer Wipro, are on the verge of completing detailed mapping of businesses and public buildings in Saudi Arabian cities and have been asked to accelerate work as the company eyes a stock market launch in April, the source said.

The team in the Indian city of Hyderabad has also 上海419论坛recently been entrusted with mapping Egypt and is under pressure to speed up the work, the source added, speaking on condition of anonymity because he is not authorized to speak publicly.

The costly and time-consuming exercise is vital to moves to scale up in what has become a crucial market for Uber, with the takeover of Dubai-based Careem and progress there a litmus test of Uber’s global ambitions after ceding other Asian countries to local competitors.

It may also have served to bolster the company’s position in talks on buying Careem, which other sources told on Sunday may announce a $3 billion takeover this week.

Mapping is a largely manual process done one block and one neighborhood at a time, requiring heavy investment, and the data must be updated regularly. Maps ar,上海419龙凤后花园Hadrian,e the foundation of ride-hailing apps that shuttle passengers from one point to another via a navigation app.

Careem, which operates in the Middle East, Africa and southern Asia, had said previously it was 45,000 miles into mapping the region, saying that shortfalls in Google Maps in the Middle East coverage had forced it to spend on the project.

PICK-UPS

Normally Uber uses a mix of mapping resources, relying heavily on Google Maps and augmenting its knowledge of streets and pickup points using its own mapping cars and equipment carried by Uber drivers in thei,上海楼凤个人Jack,r vehicles.

Uber’s website says its dedicated mapping cars are currently working only in Canada and around a dozen U.S. states, having previously mapped the UK, France, Australia, Indonesia, South Africa, Columbia, Mexico, New Zealand, Singapore and Brazil.

Uber said the team in India was curating “Places” mapping data in Saudi Arabia to back up the necessary field work as it seeks to create its own set of locations against which it can easily search for pick-ups and drop-offs. It is different from vector mapping data and is a database of trip destinations, the company said.

,爱上海花千网Easton,

Uber said it had not started work in Egypt.

According to the source, the process at Wipro is threefold; beginning from validation of existing data, to verification of new data collected from fieldwork and finally manually tagging each business and establishment on the proprietary map.

The fieldwork is done by Uber’s people on the ground, who go from business to business and take pictures from all the exterior sides of a building, a requirement in tagging the location of an establishment. Workers at Wipro use official websites and social media handles, as well as other resources, to fact-check data, the source said.

Wipro said it does not comment on specific client engagements. It was not clear whether Uber had agreements with other outsourcers for mapping the region.

In the run-up to its initial public offering next month, Uber is expected to tout its global reach and strong overseas markets to investors as a differentiation from U.S. rival Lyft.

An Uber purchase of Careem, after it gave up on markets in China, Southeast Asia and Russia in the face of strong local startups, has put the Middle East at the heart of that narrative.

A tie-up with Careem would also allow both companies to stop spending so heavily on infrastructure, as well as subsidizing rides for passengers and poaching drivers with bonuses, which have generated losses for both firms.

New York Times, in rare front-page editorial, calls for outlawing…

( ) – The New York Times, in its first front-page editorial in nearly a century, on Saturday called for outlawing the kinds of rifles used in the California sho,爱上海Barbara,oting massacre this week that left 14 people dead.

The newspaper’s editorial comes three days after Syed Rizwan Farook and Tashfeen Malik, a married couple, carried out the mass shooting in San Bernardino with legally purchased, .223 caliber assault-style rifles. The couple also had semi-automatic pistols. FBI officials say they are investigating the shooting as an “act of terrorism.”

U.S. officials have said Malik is believed to have pledged allegiance to a leader of the militant group Islamic State.

“Certain kinds of weapons, like the slightly modified combat rifles used in California, and certain kinds of ammunition, must be outlawed for civilian ownership,” the New York Times editorial said.

The editorial went on to argue that an act to outlaw such weapons would “require Americans who own those kinds of weapons to give them up for the good of their fellow citizens.”

Republican presidential candidates dismissed the editorial, with New Jersey Governor Chris Christie calling it “typical liberal claptrap.” In excerpts from an interview with CBS News “Face the Nation” airing on Sunday, Christie said instead, more should be done to institutionalize the mentally ill.

Republican front-runner Donald Trum,爱上海同城交流论坛Cade,p, asked by reporters in Iowa where he was campaigning about the editorial, cited the shootings in Paris and California, saying the victims “could have protected themselves if they had guns.”

Times Publisher Arthur Sulzberger, Jr., said the editorial was placed on the front page “to deliver a strong and visible statement of frustration and anguish about our country’s inability to come to terms with the scourge of guns.”

President Barack Obama has called for legislation making it harder for criminals to get guns. He h上海419论坛as noted mass shootings do not happen as frequently in other advanced countries and said the United States should address the problem.

Republicans in Congress have mounted heavy opposition to gun control measures.

The debate over gun control has long been one of the most contentious political issues in the United States, with the right to gun ownership protected in the U.S. Constituti,上海419对对碰Lake,on’s Second Amendment.

It is the first time The Times has run an editorial on the front page since 1920, when the newspaper expressed dismay at the nomination of Warren G. Harding as the Republican presidential candidate. Harding went on to win the general election that year.

Written by sh419 on September 8, 2019 Categories: 爱上海 Tags: , , ,