This Week Fed data on credit Constellation Brands earnings

first_imgA look at some of the key business events and economic indicators upcoming this week:CONSUMER CREDITThe Federal Reserve on Tuesday will release its consumer credit data for the month of November.Consumer borrowing is closely tracked for signs of consumers’ willingness to take on more debt to finance their purchases. The Fed’s consumer borrowing report does not cover home mortgages or other types of debt secured by real estate such as home equity loans.Borrowing has been on an upward trend for some time. Here’s a look at its gains each month based on seasonally adjusted data:October: 7.7 per centSeptember: 3.5 per centAugust: 7.1 per centJuly: 5.4 per centJune: 1.7 per centMay: 6.8 per centSource: Federal Reserve reportsSEEING STARSBeer, wine and spirits maker Constellation Brands reports its earnings on Wednesday. The Victor, New York-based company is one of the world’s largest beverage companies. Its brands include Corona beer, Robert Mondavi wines and Svedka vodka. The company also recently made a foray into marijuana with a $4 billion investment in Canopy Growth Corp., a cannabis company based in Canada.Additionally, it announced in October that its chief executive officer Rob Sands will step down later this year and hand over the reins to its current president Bill Newlands.Constellation has been experiencing significant gains of late. Here’s a look at its sales for the past six quarters:2Q: $2.3B1Q: $2B4Q: $1.83Q: $1.82Q: $2.11Q: $1.9Source: FactSetMORTGAGE RATESFreddie Mac, the mortgage company, on Thursday releases weekly mortgage rates.Mortgage rates began to spike after President Donald Trump signed broad tax cuts, financed by government deficits, into law in December 2017. But rates have eased in recent weeks amid steep declines in the stock market and a drop in the yield on the 10-year Treasury note, which influences long-term mortgage rates.The decline in mortgage rates could help boost home sales, which have stumbled last year as higher borrowing costs have eroded affordability.Here’s a look at the average rate on a 30-year fixed-rate mortgage for the past six weeks:Jan. 3: 4.51Dec. 27: 4.55Dec. 21: 3.99Dec. 14: 3.94Dec. 7: 3.93Nov. 30: 3.94Source: Freddie MacThe Associated Presslast_img read more

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Ford puts 2018 adjusted profit outlook below Street view

first_imgDEARBORN, Mich. — Ford is calling for 2018 adjusted earnings of $1.30 per share, slightly below Wall Street’s view, because of challenges including higher commodity and warranty costs and a business decline in China.Analysts predict earnings of $1.33 per share, according to FactSet.Looking ahead, Ford Motor Co. Chief Financial Officer Bob Shanks said in a statement that the automobile maker sees the potential for year-over-year improvement in revenue in 2019.Last week Ford announced it was cutting jobs in Europe as it reshapes its business to focus on more profitable commercial trucks and SUVs while shifting production to electric cars over the longer term.Shares of the Dearborn, Michigan-based company fell 13 cents to $8.71 before the market open on Wednesday.The Associated Presslast_img read more

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Science World coming to Fort St John next weekend

first_imgFORT ST. JOHN, B.C. — Science World is bringing its unique and entertaining science shows back to Fort St. John next weekend.Science World’s On The Road team will be in Fort St. John and surrounding communities from March 5th–9th. Science World road team visits over 30,000 students each year at schools outside the Lower Mainland, who might not otherwise have a chance to visit Science World in Vancouver.The team will wrap up its visit by participating in the Community Science Celebration at Northern Lights College in Fort St. John on Saturday, March 10th. The free community event will include eye-popping shows, demonstrations and challenges, along with an opportunity to meet all the people in the community doing working in science, technology, engineering and math every day. “We are thrilled to be participating in the Community Science Celebration in Fort St. John,” said Jo-Ann Coggan, Director of Community Outreach for Science World. “It is a showcase of the community for the community and will profile local businesses, organizations and innovators. Science World will provide fun, dynamic science experiences for the whole family as part of this event.”The event will run from 10:00 a.m. to 4:30 p.m. on March 10th at Northern Lights College.last_img read more

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Akhilesh Yadav meets Mayawati after Priyanka meets Bhim Army chief

first_imgLucknow: The chiefs of Uttar Pradesh alliance partners SP and BSP met here on Wednesday hours after Congress leader Priyanka Gandhi paid a surprise visit to Bhim Army chief Chandrashekhar Azad at a Meerut hospital.SP president Akhilesh Yadav met BSP chief Mayawati after newly appointed Congress general secretaries Priyanka Gandhi and Jyotiraditya Scindia met Azad. When contacted, Samajwadi Party spokesperson Rajendra Chaudhary said the two leaders met to discuss joint public meetings and rallies, being planned for the Lok Sabha polls. Meetings are being held constantly as the election is round the corner and the poll campaign has to be launched full scale after Holi next week, he said. The alliance has left two seats for the Congress in the state and will honestly support it on them, said Chaudhary. Meanwhile, a senior SP leader, who did not wish to be named, claimed Priyanka Gandhi’s visit to the Bhim Army chief was in reaction to the BSP president ruling out any alliance with the Congress. “But Mayawati is not someone who will yield to any kind of pressure. This alliance will not come under pressure. It has already given two seats to the Congress,” he added. Mayawati had Tuesday snubbed the Congress by slamming doors on it for any electoral alliance for the Lok Sabha polls anywhere in the country.last_img read more

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Cong may include Healthcare Act promise in manifesto says Rahul

first_imgRaipur: Congress President Rahul Gandhi on Friday said his party is considering inclusion of a Right to Healthcare Act promise in its manifesto for the ensuing Lok Sabha election to guarantee minimum healthcare to all.Gandhi also criticised the Ayushman Bharat flagship health scheme of Prime Minister Narendra Modi’s government and termed the programme as a handout to 15-20 select businessmen of the country. He was interacting with medical professionals during the concluding session of the two day national convention on Health for all organised by an NGO here. Also Read – How a psychopath killer hid behind the mask of a devout laity!”In our manifesto, we are considering three things: Including Right to Healthcare Act by which we can guarantee a certain minimum healthcare to all Indians; increasing our healthcare expenditure to 3 per cent of the GDP and increasing the number of doctors and healthcare professionals, Gandhi said answering a question from the professionals. Gandhi also asserted that if his party is elected to power in the 2019 general elections, its focus will be on increasing expenditure on healthcare and education. Also Read – Encounter under way in Pulwama, militant killed”India is transitioning from a rural system to urban system. There is a massive shifting taking place and it is a painful shift. It is not an easy shift, it is a traumatic shift,” he said. Gandhi said there are three things that any government in the 21st century has to do to protect Indias citizens. “First we have to fix unemployment problem and second is we have to give low cost high-quality education. The third thing is that we have to ensure better healthcare system, he said. “These to me are non-negotiable things. If we dont do all of these, we are not going to be successful, he added. Gandhi said the biggest cause of falling back into poverty is healthcare. “Everybody knows that. Healthcare in the sense is foundation. We have to ensure that this foundation is built firmly. A Congress government in 2019 is dramatically going to increase the amount of money in healthcare and education, he said. We are not going to put money in waste that allows limited number of people to make massive amount of money, he said. He said that is how he views the Ayushman Bharat scheme. “I see it as a limited scheme that is targeting very limited number of healthcare issues. If I want to be frank it is a handout to the 15-20 richest businessmen in India. That is not the type of scheme we are going to put in, he said. “My main criticism of the Ayushman Bharat scheme is that it gives insurance without proper support structure from hospital and medical professionals. Without the capacity to deliver the medical care, no insurance system can function”, he said.last_img read more

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Pleasant weather conditions prevail clear skies likely today

first_imgNew Delhi: Pleasant weather conditions prevailed in the capital with the maximum temperature settling at 30.7 degrees Celsius, six notches below the season’s average.The minimum temperature was recorded at 17.1 degrees, five degrees below the normal, said a MeT Department official. The humidity oscillated between 90 and 41 per cent. The weather office has predicted clear skies for Friday. “The maximum and minimum temperatures are expected to hover at 34 and 19 degrees Celsius, respectively,” the weatherman said. Also Read – After eight years, businessman arrested for kidnap & murderDay and night temperatures across northwest and central India are expected to rise now as we do not foresee any weather activity over northern plains, including Delhi and NCR, vice president (meteorology and climate change) at Skymet Mahesh Palawat said. “At present, temperatures are below normal but due to gradual increase, by April 22, Delhi may record 38 to 39 degrees Celsius of maximum temperature,” Palawat said. On Wednesday, light rains in some parts of the city brought the mercury down.last_img read more

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Pragya Thakurs comment on Karkare her personal view Karkare a martyr BJP

first_imgNew Delhi: The BJP Friday distanced itself from Sadhvi Pragya Singh Thakur’s controversial comment that IPS officer Hemant Karkare died in 26/11 Mumbai terror attacks as she had cursed him, saying it was her personal view which she might have made “due to years of physical and mental torture”. “The BJP believes that Karkare died while bravely fighting terrorists. The BJP has always considered him a martyr, ” the party said in a damage-control exercise. Also Read – India gets first tranche of Swiss bank a/c details The party, which has fielded Malegaon blast accused Thakur from Bhopal in the Lok Sabha election, claimed she had suffered “physical and mental torture” for years in police custody that might have caused her to make such a statement. The comment is her “personal view”, it added. Karkare, who headed the Mumbai anti-terror squad, had died in the Mumbai terror attacks in 2008. Addressing BJP workers in Bhopal, Thakur claimed Karkare died as she “cursed” him for “torturing” her in custody.last_img read more

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Accidental Prez

first_imgIrony gasped when the ‘Servant Of The People’ actually ended up being just that. In a very interesting turn of events, a comedian with absolutely no political moorings has been elected as the President of Ukraine with 73 per cent votes. Volodymyr Zelenskiy became a phenomenon with his landslide electoral victory in the Ukrainian Presidential polls announcing the departure of the incumbent President Petro Poroshenko. The 41-year-old comedian, as though prophetically, starring in a political satirical drama called ‘Servant Of The People’ (streaming on Netflix) plays a character that accidentally becomes the President of Ukraine. This remarkable win is viewed as one against social injustice, corruption, and a war with Russian-backed separatists in eastern Ukraine that has claimed over 13000 lives. As the world looks on, the President-elect has his platter of issues ready before him. His policies are eagerly looked forward to. Zelenskiy will assume office in about a month’s time and among the primary questions already swirling around him are about his policy position towards Russia. Zelenskiy is a native Russian speaker and critiques accuse him of having a soft stance towards Russian aggression: mainly the support for separatists in eastern Ukraine and the annexation of Crimea in 2014. He is also accused of accepting funds and financial assistance from the Kremlin and has been touted as the preferred choice of Russian President Vladimir Putin who has had a rocky relation with the outgoing Ukrainian President Petro Poroshenko. Zelenskiy’s previous on and off friendly inclination to Russia and the criticism he attracted from the Russian media seem passé before the promises he made to the people of Ukraine proper to the polls. The promise to bring home 24 Ukrainian sailors under arrest in Russia after being captured in a naval incident near Crimea earlier this year is claimed to be his number one priority; he has stated that talks are unavoidable between Ukraine and Russia because there’s a “real war” between the countries, adding that “there can’t be any compromise on Ukraine’s sovereignty and independence. “We don’t sell our people and we don’t sell our territories.” This boldness is quite a turnaround from what he said in March 2014: “I really want to address Mr. Putin. Dear Vladimir Vladimirovich! Do not allow even the hint of a military conflict to happen. Because Russia and Ukraine really are brotherly nations… If you want, I can beg you on my knees. But please, do not put our people on their knees.” Allegations and controversies apart, the intensity of Zelenskiy’s thumping victory speaks more loudly of the fact that the public wants a change more than anything else.last_img read more

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Algerias Bouteflika a veteran dogged by controversy

first_imgALGIERS – Algeria’s Abdelaziz Bouteflika, who is to seek a fourth presidential term in an April election, helped to end a devastating civil war and contain Arab Spring protests.One of the few remaining veterans of the war of independence against France, the 76-year-old first came to power in 1999, but has been dogged by ill health and corruption scandals.He has also never freed himself from the pervasive control of the unelected military, despite being determined to roll back its power and that of intelligence leaders who have dominated Algerian politics since independence. “I’m not three quarters of a president,” he said after being elected in 1999, addressing critics who saw him as another puppet of the army chiefs.But despite his efforts to reduce their influence, the army and the DRS intelligence agency are still widely considered to be the real power in Algeria.The army has chosen all of the country’s post-independence leaders — and Bouteflika was no different.With the military’s support, he stood unopposed in 1999 as the candidate of the ruling National Liberation Front (FLN) after all the other candidates withdrew, citing fears of electoral fraud.A dapper figure known for wearing a three-piece suit even in baking Saharan conditions, Bouteflika was credited by many Algerians with helping end the murderous civil war in the 1990s that killed at least 150,000 people.The military-backed government’s decision to cancel elections in 1991 which an Islamic party had been poised to win sparked a decade of appalling bloodletting.Islamist insurgents attacked both the military and civilians amid allegations of shocking abuses by both sides.Bouteflika proposed an amnesty for rebels who laid down their arms and twice secured public endorsement for “national reconciliation” through referendums.Major gamble pays offThe first, in September 1999, was a major gamble but paid off, leading to a sharp decrease in violence that helped propel Bouteflika to a second term in 2004.The resignation shortly afterwards of Mohamed Lamari, a Moscow-trained former army chief and key proponent of eradicating the armed Islamists during the civil war, was a step forward in curbing the military’s power.And the death in 2007 of General Smain Lamari, a close ally of the shadowy intelligence chief Mohamed “Tewfik” Mediene, the powerful hidden force in Algerian politics, was thought to further strengthen Bouteflika’s hand.But he never succeeded in neutralising Mediene, despite steps to emasculate the military intelligence agency in 2012 alongside sweeping cabinet changes.Bouteflika began a third term in 2009 following a constitutional amendment allowing him to stand again.His supporters argue that under his stewardship public and private investment has created millions of jobs and dramatically lowered unemployment.But a lack of opportunity continues to drive many Algerians abroad, often illegally, as youth unemployment remains high despite windfall oil revenues.When the Arab Spring burst into life in January 2011, Algeria witnessed deadly social unrest, and a month later Bouteflika acceded to an opposition demand, lifting a 19-year state of emergency.To head off further unrest he announced piecemeal political reforms, including boosting the role of independent parties.But these reforms won little support from the opposition, and legislative elections in May 2012 saw the FLN tighten its control of parliament.Bouteflika’s third term in office has been dogged by speculation about his health, and even rumours he had died, after he underwent surgery in Paris in 2005 for a stomach ulcer.Bouteflika was hospitalised in France again in April last year after a mini-stroke, spending three months recovering and chairing just two cabinet meetings in 2013.Despite his ill-health, in November the FLN named him as its candidate in the presidential election due in April.Bouteflika never married and has no children.last_img read more

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More migrants enter Spains north African territories

first_imgMadrid- Fifteen African migrants, including a young girl, entered Spain’s north African territory of Melilla illegally on Monday on a small inflatable boat, Spanish authorities said.Three other African migrants entered Ceuta, Spain’s other north African Territory, by passing underneath a barbed wire border fence, officials said.Ceuta and Melilla — which sit across the Mediterranean from mainland Spain, surrounded by Moroccan territory — are a key entry point for migrants seeking a better life in Europe. The two cities have the European Union’s only land borders with Africa. The rubber dinghy carrying the 15 migrants entered Melilla in the early hours of Monday though the territory’s commercial port, the regional government said in a statement.“The migrants started to run as soon as they reached the port and were detained by police,” the statement said. The migrants included one girl aged under 18 and 14 adult men.Meanwhile in Ceuta, located about 400 kilometres (250 miles) to the west of Melilla, three African migrants crossed underneath the barbed wire fence separating the territory from Morocco through a pipe, a spokesman for the regional government said.Police on Sunday caught a 19-year-old from Mali hiding inside a suitcase that was being carried by a Moroccan man across the border into Melilla from the Moroccan border town of Beni Ansar.“The difficulties which the man had in carrying the suitcase raised the suspicions of the authorities,” police said in a statement.At least 14 migrants drowned in Moroccan waters on February 6 while trying to enter Ceuta by sea after several hundred tried to storm the land border.In that incident, Spanish security forces were accused by human rights groups and witnesses of firing rubber bullets at the immigrants, sparking a heated debate in Spain.In response Spain’s interior ministry said last week it had banned border guards from firing rubber bullets to stop migrants crossing the fence into its north African territories.More 200 migrants stormed across a triple-layer border fence into Melilla on Friday in what Spanish authorities said was one of the largest such crossings in years.last_img read more

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Benkirane to Education Minister I Am the One the King Appointed

Rabat – Benkirane took his Education Minister Rachiad Belmokhtar by surprise on Tuesday when he told him that he should focus rather on less controversial issues and work to fix the issues that teachers and educational professionals call for.“Forget your project of teaching science subjects in French and focus on the moralization of the sector. It’s me the one that His Majesty the King appointed Head of Government, if the king wanted to appoint Belmokhtar, he would have done so. He knows you before me,” Benkirane said before the upper chamber of the parliament on Tuesday.To the bemusement of the Minister of Education, Benkirane made the decision live on TV to put on hold Belmokhtar’s controversial decision to use French as medium of teaching science subjects in Moroccan high schools. Benkirane went on to say that he sent a letter to the Education Minister and asked him to put that measure on hold, adding that he was not aware of it.The decision to adopt French in teaching science subjects, which was adopted last month, created an uproar across Morocco with education professionals labeling it “an anticipated move,” that did not take into account the multiples calls made by other members of the government to make English the language of instruction of these subjects.Earlier this year, Benkirane stated that English should become the primary language of education in Morocco because “it is the language of today’s science, technology and commerce.” read more

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Moroccos VoIP Ban Quietly Reversed Without Official Announcement

By Beryl KessioRabat – Today, some reports have surfaced that the National Telecommunications Regulatory Agency (ARNT) has quietly reversed its ban on VoIP services such as Skype, WhatsApp and more. The ARNT, however, has not released an official statement concerning the lifted restrictions; the loophole was discovered by trial and error.The ban was instituted in January on the grounds that free IP-based calling services weren’t licensed to operate as telecom entities in Morocco. The government’s undisclosed turnaround comes after a report that the Moroccan economy lost $320 million as a result of the decision to curtail use of VoIP services, according to the American Center for Technological Innovation at the Brookings Institution. Disgruntled Moroccans expressed their disapproval of the decision, launching campaigns calling on citizens to boycott the three main Moroccan telecommunications agencies: Maroc Telecom, Meditel and INWI. One Moroccan national even went to court to battle the ARNT’s authority to ban these services. Residents who have turned to VPNs (virtual private networks) to dodge the government’s restriction should not ditch them just yet. Despite the campaigns by Moroccan citizens and international criticism, some presume that the ban was temporarily lifted as a result of the fast-approaching COP 22 conference taking place in Marrakech in November, and will swiftly be reinstated after the conference ends. COP 22 proceedings will draw government officials, representatives of UN bodies and agencies, intergovernmental and non-governmental organizations and media personnel to the kingdom. The actual functionality of VoIP services has yet to yield consistent results. read more

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El Othmani Appoints Salaheddine Mezouar Member of CNSS Board

Rabat – El Othmani appointed Salaheddine Mezouar to the board of directors of the National Social Security Fund CNSS following the proposal of the management.Mezouar, who is also the president of General Confederation of Moroccan Enterprises (CGEM), will be a member of the CNSS board of directors, succeeding Meriem Bensaleh Cheqroun, the former president of CGEM, according to the Official Gazette published November 19.The appointment covers only the remaining three-year period of  board’s term, which began October 12, 2017. El Othmani also appointed two representatives of the Ministry of Health to the  board of directors: Abdelouahab Belmadani and Aziz Tanjwi El Jazuli.Mezouar is also the former Minister of Industry, Trade, and Economy and  former Minister of the Economy and Finance. Mezouar also held the position of president of the Moroccan Association of Textile and Clothing Industries (AMITH) and president of the Textile and Leather Federation within the CGEM.Mezouar, a Moroccan politician and businessman, was born in 1953 in Meknes. Mezouar is the former president of the National Rally of Independents (RNI). read more

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As Brexit looms UK preppers stock up and hunker down

LONDON — For almost as long as Britain and the European Union have been wrangling over Brexit, Melvin Burton has been preparing for a bumpy landing.He reels off the cornucopia of cans filling his shed and the cupboard under his stairs: “Tomato sauce, chopped tomatoes, corned beef, tuna, honey, baked beans, tins of ham.” Cat food, too, “because I don’t want them to go hungry.”Burton is one of a growing number of “Brexit preppers” stockpiling in anticipation of disruption if Britain leaves the EU next month without a deal.Britain imports almost a third of its food from the EU, and the government says that a “no-deal” Brexit could bring severe disruption to freight across the English Channel and “reduced availability and choice of products,” especially fresh fruit and vegetables.Jill Lawless, The Associated Press read more

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Delta profit surges and releases strong outlook

ATLANTA — Delta is reporting a 30 per cent profit surge from the first quarter and its outlook for the current quarter is pushing company shares higher before the opening bell.The Atlanta carrier on Wednesday posted first-quarter net income of $730 million, or $1.09 per share. Earnings, adjusted for non-recurring gains, came to 96 cents per share, which is 6 cents better than Wall Street had expected, according to a survey by Zacks Investment Research.Revenue was also surprisingly good, rising 5 per cent to $10.47 billion/Shares of Delta Air Lines Inc. are up more than 1 per cent._____Portions of this story were generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on DAL at https://www.zacks.com/ap/DALThe Associated Press read more

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Business Highlights

___Capitol Hill hearing on online hate sees it firsthandWASHINGTON (AP) — A congressional hearing on online hate turned into a vivid demonstration of the problem when a YouTube livestream of the proceedings was bombarded with racist and anti-Semitic comments. YouTube disabled the live chat section of the streaming video about 30 minutes into the hearing Tuesday. Executives from Google and Facebook are appearing before the House Judiciary Committee, defending their companies’ efforts to screen out hate speech.___France softens stance ahead of May plea for new Brexit delayBRUSSELS (AP) — Chances that Britain would crash out of the EU Friday without any future plan appear to be shrinking. Tough-guy France softened its stance and showed willingness to accept yet another delay in the long-awaited Brexit. But British Prime Minister Theresa May still has a rough day ahead of her at an EU summit Wednesday.___Airbnb reverses, will allow listings in Israeli settlementsSAN FRANCISCO (AP) — Airbnb is rescinding its plan to bar listings in Israeli settlements in the West Bank. The company says it has decided to allow listings throughout the entire West Bank, but will donate any of its profits from the region to humanitarian aid organizations.___Mnuchin says he’ll ‘follow the law’ on Trump tax returnsWASHINGTON (AP) — Treasury Secretary Steven Mnuchin said Tuesday that his department intends to “follow the law” and is reviewing a request by a top House Democrat to provide President Donald Trump’s tax returns to lawmakers. But in Capitol Hill appearances Tuesday, Mnuchin dodged over whether he would comply with the request to supply Trump’s tax returns by Wednesday and he also said he has not promised to authorize the IRS to supply the returns.___Putin outlines ambitious Arctic expansion programST. PETERSBURG, Russia (AP) — President Vladimir Putin has put forward an ambitious program to secure Russia’s foothold in the Arctic, including efforts to build new ports and other infrastructure facilities and expand an icebreaker fleet. Putin says that Russia plans to dramatically increase cargo shipments across the Arctic sea route. The Russian leader was speaking at the Arctic forum in St. Petersburg attended by leaders of Finland, Iceland, Norway and Sweden.___Boeing orders and deliveries tumble as Max jet is groundedDALLAS (AP) — Boeing got zero orders and fewer deliveries for its 737 Max plane in March. The Max, the latest version of Boeing’s most popular plane, remains grounded worldwide while the company works on a software update to fix a system suspected in two deadly crashes. Separately, American Airlines is cutting a key revenue estimate after cancelling 1,200 flights because of grounded planes.___Loughlin, husband, others hit with money laundering chargeBOSTON (AP) — Attorneys for the parents charged with money laundering conspiracy in the college admissions case are accusing prosecutors of trying to get their case in front of a tough judge. Prosecutors on Tuesday called their letter “inappropriate” and a “Hail Mary.” The exchange came after federal prosecutors added the laundering charge to the list of accusations facing actress Lori Loughlin, her fashion designer husband, Mossimo Giannulli, and 14 other parents.___Publisher of iconic black magazines files for bankruptcyCHICAGO (AP) — Johnson Publishing Co., publisher of two iconic magazines, Ebony and Jet, that helped changed the image of black people portrayed by U.S. media, has filed for bankruptcy liquidation in a federal court in Chicago. In announcing the petition filed Tuesday, the company said it was “caught in a tidal wave of marketplace changes and business issues which, despite exhaustive efforts, could not be overcome.”___Levi’s fiscal 1Q revenue up 7% in first post-IPO report.NEW YORK (AP) — Levi Strauss & Co. swung to a profit and reported a nearly 7% increase in net revenue during the company’s fiscal first quarter, an indication the jeans maker’s investments online and in its denim products are paying off. Tuesday’s earnings report marked Levi’s first since its return to the public markets last month. Levi’s stock got an enthusiastic reception from investors but it has retreated since then. The stock rose, however, in after-hours trading following the earnings report.___US stocks close lower, ending 8-day win streak for S&P 500NEW YORK (AP) — Industrial companies led a broad slide in stocks on Wall Street Tuesday, ending the benchmark S&P 500’s eight-day winning streak. The sell-off came as traders weighed growing trade tensions between the U.S. and the European Union, and a report forecasting dimmer global economic growth this year. Banks and technology companies also lost ground. Smaller company stocks fell more than the rest of the market. Bond prices rose, sending yields lower. The price of gold rose.___The S&P 500 index fell 17.57 points, or 0.6%, to 2,878.20. The Dow Jones Industrial Average dropped 190.44 points, or 0.7%, to 26,150.58. The Nasdaq composite slid 44.61 points, or 0.6%, to 7,909.28. The Russell 2000 index of small-cap stocks gave up 19.32 points, or 1.2%, or 1,559.68.The Associated Press read more

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Nexteer Automotive Opens its First African Plant in Kenitra Morocco

Rabat – The new facility will manufacture automobile parts including Electric Power Steering (EPS) systems for Groupe PSA (formerly PSA Peugeot Citroen). The facility will also manufacture Driveline systems for Fiat Chrysler Automobiles (FCA), Groupe PSA and the Renault-Nissan-Mitsubishi Alliance.Construction of the 10,000 m2 Kenitra facility began in the first quarter of 2018. The facility is now gearing up for the start of production in September. Nexteer Automotive expects to hire 500 people for the plant by 2020.“Nexteer’s new Morocco plant is another milestone in our ongoing plan for global footprint diversification and expansion in regions strategically important to our key customers,” said Tao Liu, Global Chief Operating Officer of Nexteer Automotive, in a press release. Read also: King Mohammed VI Chairs Inauguration of PSA Group’s Kenitra Automotive PlantNexteer is a multi-billion dollar global steering and driveline business. The Kenitra facility is Nexteer’s 27th plant in the world, and its first on the African continent.The opening of the Nexteer plant strengthens Morocco’s competitiveness in the automobile industry and Kenitra’s position as a hub for the sector. Groupe PSA inaugurated its car factory site in Kenitra on June 20. It has a production capacity of 100 000 vehicles per year.At the inauguration of the new Nexteer plant, the Moroccan Minister of Industry Moulay Hafid Elalamy noted the facility “contributes to the integration of the value chain and the ascent of the Moroccan automotive industry.”Morocco is the largest automobile producer in Africa, with a production capacity of over 700,000 vehicles per year. read more

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Eastern Canadas largest container terminal sold to Singaporebased port operator

HALIFAX — A Singapore-based port operator has announced a deal to buy the largest container terminal in Eastern Canada.PSA International Pte Ltd. says it has finalized an agreement to acquire the Halterm terminal at the Port of Halifax from Australia’s Macquarie Infrastructure Partners.The company will also acquire Penn Terminals in Philadelphia from the Australian fund, which is managed by Macquarie Infrastructure and Real Assets.A PSA spokesperson says it is in the process of securing regulatory approvals from Canadian and U.S. authorities.The company declined to comment on the price tag, closing date or its plans for the terminal.PSA beat out several bids for Halterm, including a joint bid by Canadian National Railway Co. and a partner.Companies in this story: (TSX:CNR)The Canadian Press read more

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Coals slide to continue in US as renewables fill the gap

BILLINGS, Mont. — U.S. demand for coal to generate electricity will continue its slide in coming months despite efforts by the Trump administration to prop up the struggling industry, federal officials said Thursday.Renewable energy sources are expected to fill much of the gap left by coal’s decline, according to the Energy Information Administration.That’s particularly true for Western states, where wind, solar, hydropower and other renewables will provide almost a quarter of the power to households and businesses during the peak summer season, the agency said in projections released Thursday.Natural gas will remain the fuel of choice for power generation with an expected 40% share of U.S. markets this summer.Under President Donald Trump, officials have sought to ease coal plant regulations and mining restrictions. But after production briefly bumped up in the year after Trump took office, almost all coal mining states are now experiencing production declines.Wyoming, Kentucky and Texas have seen the biggest drops so far this year. Among the top 10 coal states, only Montana has seen a slight increase in the volume of coal mined in 2019.Coal’s share of power generation is projected to be 25% this summer. That’s down roughly half over the past decade and follows a wave of coal plant retirements by utilities seeking cheaper and cleaner-burning alternatives.Beyond the changes in the number and types of power plants are shorter-term price considerations, analyst Stacy Macintyre with the Energy Information Administration said. Utilities this summer will pay about 3 per cent more for coal and 12 per cent less for natural gas compared with last year, she said.Matthew Brown, The Associated Press read more

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Murder of Somalia human rights activist prompts UN condemnation

16 March 2007United Nations human rights and humanitarian officials today deplored the assassination of a leading human rights activist in Somalia, saying such attacks were all too common in the strife-torn Horn of Africa nation. Isse Abdi Isse, the chairman of KISIMA, a non-governmental organization (NGO), was shot dead yesterday in a hotel in the capital, Mogadishu, where he had been participating in a workshop.UN High Commissioner for Human Rights Louise Arbour stressed that human rights defenders must be allowed to carry out their work in safety and without fear of retaliation, her spokesperson José Luis Díaz told reporters in Geneva.Ms. Arbour urged Somalia’s Transitional Federal Government (TFG) to conduct a prompt and impartial investigation into the murder and into all other attacks on rights defenders.Ghanim Alnajjar, the UN Independent Expert on the situation of human rights in Somalia, issued a statement expressing his deep sadness at the killing and offering his condolences to Mr. Isse’s family, friends and colleagues.“The killing of Mr. Isse starkly highlights the absence of human rights protection mechanisms for human rights defenders as well as other civilians, and the atmosphere of impunity in which Somalis live,” Mr. Alnajjar said.“After 16 years of conflict, Somalia is at a critical juncture. I wish to remind all that the work carried out by human rights defenders is crucial to building the foundation for security and a lasting peace.”UN Humanitarian Coordinator for Somalia Eric Laroche described Mr. Isse as a dedicated human rights defender in the country’s Lower Juba region.“Isse championed human rights causes in the region for many years and his death is undoubtedly a loss to all Somalis who at this time are seeking peace and reconciliation,” Mr. Laroche said.“Civil society organizations, such as KISIMA, that continue to operate in Somalia under very difficult conditions are increasingly becoming the target of attacks as a result of the work they do.” read more

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