According to new figures, the US economic growth slowed to an annual pace of 0.5% in Q1 of 2016.
That was a sharp fall from the 1.4% rate of growth in Q4 of 2015 and the slowest pace in two years.
The slowdown, which was bigger than most economists forecast, has been blamed on a fall in domestic demand and a strong dollar that has put a brake on exports.
Photo Getty Images
With shoppers buying less, businesses have been reluctant to order new stock.
Consumer spending, which accounts for more than two-thirds of the US economy, increased at a rate of 1.9%, down from 2.4% in the previous quarter.
Business investment fell by 5.9% – the biggest quarterly decline since the depths of the financial crisis in 2009.
Oil and gas exploration fell by a record 86% as energy companies cut back on spending following the dramatic slide in oil prices.
Although cheaper oil has given consumers more spare cash, it has also cut the profits of businesses dependent on the oil industry.
Despite the economy slowing, unemployment fell below 5% in January, and April 29 jobs report is expected to show steady growth in employment numbers.
On April 28, the Federal Reserve said that “labor market conditions have improved further even as growth in economic activity appears to have slowed”.
Lego has admitted its decision to reject Ai Weiwei’s request for a bulk order of its bricks in 2015 was a “mistake”.
Vice-Chairman Kirk Kristiansen told The Wall Street Journal an employee had misinterpreted the company’s policy on political neutrality.
In October 2015, the Chinese artist said his request was declined because Lego considered his planned exhibition to be too political.
Ai Weiwei is known for criticism of the Chinese government.
“It was an internal mistake,” Kirk Kristiansen said.
He said the decision had been made “very low in the organization by our consumer service department”, and that Lego’s board had not been involved at the time.
Kirk Kristiansen’s son and successor Thomas added: “It is a typical example of what can go wrong in a big company.”
Lego’s refusal to provide bricks for Ai Weiwei’s artwork on political dissidents prompted people around the world to donate bricks at “Lego collection points” set up in different cities.
Ai Weiwei ended up making a new series of artworks based on the incident as a commentary on freedom of speech and political art.
In January 2016, Lego decided to stop asking bulk customers what they wanted to do with the bricks.
It said such customers should instead make clear that Lego does not endorse works shown in public.
The artist said Lego’s U-turn was a victory for freedom of speech.
Ai Weiwei also appeared to react to Lego’s decision by posting a picture on Instagram of a young boy sticking bricks onto his face, accompanied by a grinning emoji caption.
Minnesota authorities investigating Prince’s death are requesting assistance from the Drug Enforcement Administration (DEA).
Police found prescription painkillers in Prince’s possession following his sudden death in Minneapolis on April 21, NBC News reported.
Officials have yet to say what role, if any, those drugs may have played.
Photo Instagram
Last week’s autopsy discounted suicide – but a medical examiner said full results could take several weeks.
Prince Nelson Rogers, 57, was found dead in a lift on his Paisley Park estate.
Sheriff Jim Olson said there was no sign of trauma on Prince’s body, suggesting the singer had died alone.
The DEA will be working to “determine such things as where the medications came from, and what prescriptions Prince had obtained,” NBC reported.
There have been suggestions Prince was addicted to the painkiller Percocet, which he had been taking since 2009 to relieve hip pain.
The singers former percussionist, Sheila E, told the news agency Prince had suffered the effects of years of jumping off speakers on stage while wearing high heels.
However, claims of drug dependency have been refuted by Prince’s long-time lawyer, L Londell McMillan.
Although he admitted that Prince may have taken pills to manage pain, the lawyer said the musician was “not on any drugs that would be any cause for concern”.
Japan stock market traded low as the yen surged after the Bank of Japan decided against any extra monetary easing.
The Bank of Japan (BoJ) kept interest rates unchanged despite coming under pressure to take further action.
The central bank had introduced negative rates in January but this failed to provide a much needed boost for the economy.
The Nikkei 225 index finished 3.6% lower at 16,666.05. New economic data also showed a slip back into deflation while industrial production expanded.
Japan has for years been trying to boost its economy and end a period of stifling deflation.
One way to try to achieve this is by monetary policy, which is one of PM Shinzo Abe’s three key “Abenomics” policies to turn around the economy.
However, even negative rates – meaning commercial banks will be charged if they deposit money with the central bank – have not trickled down to get banks to lend more and companies and people to invest or spend more.
Inflation is still far off the 2% target.
The BoJ’s decision to hold rates also sent the yen currency soaring, which is likely to have a negative effect on the crucial export sector.
The yen rose nearly 2% against the dollar, with one dollar worth 109.33 yen.
In this day and age, competition for jobs is fierce. It’s never been more important to stand out from the crowd. If you’re looking for a new job, or you’re hoping to secure a promotion, here are some tips to set you apart.
Your CV, or resume, is incredibly important. This short summary is often the first opportunity you get to impress a potential employer. It could make the difference between getting an interview or having your application thrown on the ‘no’ pile. When creating your resume, it’s essential to sell yourself to the best of your ability. List your achievements. Include all the information, which may distinguish you from other candidates. In the employment section, mention only relevant roles. You don’t need to note down every job you’ve ever had. Try and be original, but don’t stray too far from tried and tested formulas. For ideas of how to format your resume, check out http://www.forbes.com/pictures/mkl45eejl/tips-for-creating-the-best-possible-resume/.
Selling yourself
Often, when you apply for a job, you’ll be competing against people with the same qualifications, so it’s vital to show off other skills. Encourage your employer to invest in your potential and show off your passion. Use your experience and training to demonstrate your capability and your ability to learn. In the modern age, it’s beneficial to look to the future and keep ahead of the crowd. Tailor your application to suit the role. If you’re looking for a job in business development, for example, showcase your talents in this field. Training in areas such as digital marketing and cloud computing may be particularly appealing. Are you interested in expanding your skill set to make your application more enticing to prospective recruiters? If so, check out sites like http://www.simplilearn.com/virtualization-and-cloud-computing/exin-cloud-computing-certification-training.
Interview tips
An interview is a fantastic opportunity to show off your personality. This is your chance to try and convince potential employers that you are the best candidate for the job. Always make sure you prepare for an interview. Read up on the company, and learn about the role. Note down some questions to ask the panel and try and predict what they may ask you. If you’re doing a presentation, rehearse it several times, and make sure you have all the facts and figures nailed down. Speak clearly and confidently, and maintain eye contact.
It is essential to create a positive first impression when you go for an interview. Dress smartly, and ensure you feel comfortable. Make an effort to wash and style your hair, and pay attention to detail. Polish your shoes, and iron your outfit the night before. Make sure you arrive in plenty of time to give you chance to go through your presentation, and get yourself mentally prepared. Most of us feel nervous before an interview or an important meeting. Try and stay as calm as possible, and take deep breaths. Take your time when you are speaking, and think about your answers before you respond to questions.
In 2016, it can be difficult to stand out from the crowd. If you’re applying for jobs, take these tips on board. Hopefully, you’ll catch an employer’s attention and ensure that they remember you for all the right reasons.
SpaceX’s Elon Musk has announced he is planning to send his Dragon spacecraft to Mars by 2018.
The billionaire has long targeted a trip to Mars and has previously said he can get humans to the red planet by 2026.
SpaceX is planning “Red Dragon” missions to Mars to test technology for bigger missions.
In a tweet, Elon Musk said that its Dragon 2 spacecraft is “designed to be able to land anywhere in the solar system”.
Photo PANews
However, Elon Musk “wouldn’t recommend transporting astronauts beyond Earth-moon region” as the internal area of the spacecraft is only the size of a large car.
“Wouldn’t be fun for longer journeys,” he said in a tweet.
SpaceX has been developing rockets and has a $1.6 billion contract with NASA to supply the International Space Station (ISS).
On April 27, the company won an $83 million contract from the US Air Force to launch a satellite for GPS navigation services.
It is a significant win for SpaceX as, for the last decade, Lockheed Martin and Boeing have been supplying space launches for the military.
In December 2015, SpaceX had another breakthrough, landing its Falcon-9 unmanned rocket upright.
That was an important development in its plan to cut the cost of space launches by re-using rockets.
Facebook has posted a 195% jump in profit in Q1 of 2016 as the company continued to generate new advertising income.
The social network reported $1.5 billion in earnings for Q1 2016, compared to $512 million in Q1 2015.
As well as enticing advertisers to new products like live video, Facebook boosted sales on existing services.
The company also proposed a new class of shares, which will allow founder Mark Zuckergerg to sell his shares without losing control of Facebook.
It said the move will “encourage Mr. Zuckerberg to remain in an active leadership role at Facebook”.
Photo Facebook
Facebook shares rose over 9% in after-hours trading.
Sales for Q1 2016 reached $5.3 billion up from $3.5 billion in Q1 of 2015.
Mobile advertising made up 82% of Facebook’s overall advertising revenue, up from 73% at the same time last year.
Total monthly active users (MAU) increased 15% from a year earlier to 1.65 billion, which was ahead of analysts expectations.
On a call with investors, the social network said it intended to continue buying other companies, but only those offering services that could be “ubiquitous”.
Facebook has invested heavily in other companies – in 2012 it paid $1 billion for the photo-sharing site Instagram.
However, it is hard for investors to judge the success of such deals, as Facebook has not detailed earnings from acquired companies.
The announcement of the new share structure comes four months after Mark Zuckerberg and his wife Priscilla Chan announced they would give away 99% of their wealth.
Mark Zuckerberg and Priscilla Chan made the announcement after the birth of their daughter Max in December.
Greece handed over the Olympic flame to the Brazilian authorities during a ceremony in Athens.
The Olympic torch will arrive in Brazil next week and then will travel around the country ahead of the games in August.
Rio de Janeiro Mayor Eduardo Paes says the Olympic park is almost ready but there are concerns about delays to some projects.
The impeachment proceedings against Brazilian President Dilma Rousseff mean there is uncertainty as to who will be in power during the Olympic Games.
Photo Yahoo News
Brazil’s unemployment has also risen to about 10% as the economy has contracted for the second year in a row.
Rights group Amnesty International has also criticized the number of killings by police in the city’s shantytowns, known as favelas, where residents were “living in terror”.
Officers have killed 11 people in the favelas so far this month, Amnesty said, and were behind 307 such deaths last year.
Nevertheless, the head of Rio’s organizing committee Carlos Nuzman said the city was “ready to make history” as the flame was handed over to the Brazilians.
The Olympic torch will arrive on May 3 in the capital Brasilia after a short stopover in Switzerland.
Ted Cruz has named Carly Fiorina as his running mate, in the event he becomes the GOP nominee at a campaign event in Indianapolis on April 27.
He called Carly Fiorina a “consistent, courageous fighter”.
The former presidential candidate is the former CEO of Hewlett-Packard.
Carly Fiorina dropped out of the presidential race after a poor showing at the New Hampshire primary.
She has been an active supporter for Texas Senator Ted Cruz on the campaign trail.
The early announcement is unusual because vice-presidential picks are not normally decided until after a candidate secures the nomination.
Photo AP
“Over and over again, Carly has shattered glass ceilings,” Ted Cruz said.
Carly Fiorina could help Ted Cruz in his battle against front-runner Donald Trump, who has made disparaging comments about women – including her.
“Look at that face. Would anyone vote for that? Can you imagine that, the face of our next president?” he said.
Carly Fiorina responded: “I think women all over this country heard very clearly what Mr. Trump said.”
Ted Cruz alluded to this exchange in introducing Carly Fiorina in Indiana, saying she handled it with “grace and class”.
While at Hewlett-Packard, Carly Fiorina laid off 30,000 people and was fired by the company’s board, though she has argued that her leadership “saved” the company.
Carly Fiorina also had a failed bid for a California Senate seat.
Donald Trump’s son Eric Trump called the move desperate.
While addressing the crowd, Carly Fiorina broke into song.
She sang about Ted Cruz’s daughters and their times together on the Cruz campaign bus.
“Donald Trump and Hillary Clinton are two sides of the same coin,” Carly Fiorina said, and Ted Cruz’s presidential bid is not over yet, despite what “the media says”.
Republican presidential hopeful Donald Trump has detailed his foreign policy just one day after winning in five primaries.
In a speech in Washington on April 27, Donald Trump said he would pursue an “America First” policy.
The New York businessman called the foreign policy of President Barack Obama’s administration “a complete and total disaster”.
On April 26, Donald Trump called himself the Republican “presumptive nominee” after his primary wins.
He claimed victories in Connecticut, Delaware, Rhode Island, Maryland and Pennsylvania.
Before the speech, Donald Trump promised it would not be a “Trump doctrine”, and that he would retain some flexibility to make changes if elected.
Photo Getty Images
Much of his speech focused on what he called the “weakness, confusion and disarray” of the Obama administration, and his hope of reversing it.
Before the audience in Washington, he vowed to “shake the rust off America’s foreign policy”.
Donald Trump said that, under his administration “their days are numbered – I won’t tell them when, and I won’t tell them how”.
He had previously said he would weaken ISIS by cutting off their access to oil, and supported waterboarding and other strong interrogation methods against them. He did not return to these proposals on today’s speech.
“Containing the spread of radical Islam must be a major foreign policy goal of the United States and indeed, the world,” Donald Trump said, adding that he would work closely with US allies in the Middle East to combat extremism.
He also said that new talks would be sought with the US’ allies in NATO to try and reshape the organization’s structure and discuss a “rebalancing” of US financing towards it.
Donald Trump said he would also aim to hold talks with Russia to seek common ground, possibly over Islamist extremism.
“Some say the Russians can’t be reasonable,” he said.
“I intend to find out.”
Donald Trump said China “respects strength, and by letting them take advantage of us economically like they are doing, we are losing all their respect”. He said he would seek to “fix our relations with China” but did not suggest how.
On US allies, he said: “The countries we defend must pay for the cost of this defense.
“If not, the US must be prepared to let these countries defend themselves. We have no choice.”
Speaking to the New York Times last month about the US-Japan relationship, Donald Trump said: “If we’re attacked, they do not have to come to our defense, if they’re attacked, we have to come totally to their defense. And that is a, that’s a real problem.”
Donald Trump once said he was his own best foreign policy adviser, but, in recent months, has expanded his backroom team. Some of his appointments have proved controversial.
His team is led by Republican Senator Jeff Sessions of Alabama.
Another member, retired Gen. Joseph Schmitz, resigned from the military in 2005 amid accusations of misconduct. However, Joseph Schmitz was never charged with wrongdoing.
Another adviser, Walid Phares, was criticized when he was named as part of Mitt Romney’s foreign policy team in 2011.
Muslim advocacy groups took issue with Walid Phares’s close ties to right-wing Christian militia groups during the Lebanese civil war.
Turkey’s new constitution will feature the principle of secularism, Prime Minister Ahmet Davutoglu has announced.
Ahmet Davutoglu said Turkey’s secular and democratic character was “not up for debate”.
The prime minister’s comments came a day after parliamentary speaker Ismail Kahraman – a key member of the ruling AK party (AKP) – called for secularism to be taken out of the constitution.
Ismail Kahraman, who is overseeing the draft charter, said Turkey was a Muslim country and should have a religious constitution.
Turkey is a NATO member and aspires to join the European Union, which has traditionally regarded the country as a model of secular democracy in the Islamic world.
However, critics of the government fear the modern state’s secular foundations are being eroded.
Photo Reuters
Opposition parties also fear the new constitution could concentrate too much power in the hands of President Recep Tayyip Erdogan, who wants an executive presidency to replace the current parliamentary system.
In a speech on April 27, Ahmet Davutoglu said: “Secularism will feature in the new constitution we draft as a principle that guarantees citizens’ freedom of religion and faith and that ensures the state is an equal distance from all faith group.”
Ismail Kahraman said on April 25: “We are a Muslim country… Secularism cannot feature in the new constitution.”
He later said his comments were “personal views”.
Kemal Kilicdaroglu, the head of Turkey’s main CHP opposition party, condemned Ismail Kahraman’s comments, tweeting: “The chaos that reigns in the Middle East is the product of ways of thinking that, like you, make religion an instrument of politics.”
The AKP, which has Islamist roots, has been pushing to replace the existing constitution, which dates back to a 1980 military coup and does not promote any religion.
Over the past two years, the Turkish government has lifted bans on women and girls wearing headscarves in schools and civil service. It also limited alcohol sales and made efforts to ban mixed dorms at state universities.
The government has pledged that European standards on human rights will form the basis of the new text.
Recep Tayyip Erdogan’s AKP holds 317 of the 550 seats in parliament. To submit its draft constitution to a referendum, it would need 330 votes , so it will need to win over lawmakers from other parties.
Mitsubishi Motors’ domestic orders for its vehicles have halved since the Japanese automaker revealed last week that it had been falsifying fuel efficiency tests.
Company president Tetsuro Aikawa said the situation was “very serious” but said he had no plans to resign immediately.
Tetsuro Aikawa said he did not know if sales abroad had been affected yet.
Mitsubishi shares have more than halved since the scandal broke.
Investors are worried that Mitsubishi Motors – Japan’s sixth-largest automaker – will face fines and compensation claims.
Last week, Mitsubishi admitted that it had falsified fuel economy data for four “minicar” models sold only in Japan.
The inaccurate mileage tests involved 157,000 of its eK wagon and eK Space, and 468,000 Dayz and Dayz Roox vehicles produced for Nissan. All were sold in Japan only.
On April 26, Mitsubishi admitted to manipulating test data for the past 25 years, far longer than initially thought.
The company’s board has formed a panel to investigate the case, and US regulators have also launched an investigation into whether car models complied with their fuel economy rules.
At a news conference on April 27, Mitsubishi Motors said that because of uncertainty about the potential damage to its brand it could not make forecasts for the financial year 2016-2017.
However, Tetsuro Aikawa was able to announce better-than-expected results for the year ending in March 2016.
Mitsubishi Motors reported that its operating profit rose 1.8% to 138.4 billion yen ($1.2 billion) while revenue increased by 4% to 2.27 trillion yen.
Just this week, broker Core Spreads launched a new affiliate program, letting partners earn a capped commission rate. Besides indicating that Core Spreads is doing fine, this shows us how popular and successful CFD trading has become in recent years.
Trading is still a gray area to many, and the benefits are even more so. Just as people are afraid of the unknown, many will be reluctant to place any cash in a declining market, or a market they know nothing about. CFD trading makes both these issues much easier to handle, and as such, could be right for a brand new investor, or learning trader.
So, if you’re considering joining the game, here are some of the main reasons why CFD trading is so utterly popular.
Gone are the days when you absolutely needed a rising market to make a decent profit. With CFD trading, you can make profit in a declining market by selling short that particular CFD. This kind of trading rewards strategy, critical thinking and a keen eye. It’s not potluck. It’s careful thought and planning.
The same goes for a booming market, too. You can make hefty sums of cash by buying that CFD. Of course, making profit in a rising market will always be easier than a declining one. But in CFD trading, it’s irrelevant. You can thrive in any scenario. Other forms of trading usually rely on a successful market, and only money can make money. You can now dispel that notion!
And that’s an understatement. If you’re already trading forex, it will be quite simple for you to trade a range of commodity CFDs on the same platform. The tools and software are largely the same and have similar functions. It’s not like CFD trading will feel absolutely alien to people who have traded in the past. It’s still an easy process.
Plus, it’s never been quicker and easier to get started with your trades. Most platforms are designed with this idea in mind, in order to aid usability. Many thoughts in the Plus500 review, for example, encompass this notion about that platform. Of course, if you’re new to trading, you still have a long way to go, but once you’ve learned it will be easy to jump between commodities.
There’s no fixed lot size when trading CFDs, so you have more options in terms of scale. Also, to begin a trade, you must only put down a small amount of the value of that total trade. You won’t need to account for the total cost. You’ll have more flexibility with your trades, and can be frugal where necessary.
Additionally, you aren’t required to own the commodity being traded. CFD traders aren’t at risk by taking ownership of any form of physical instrument. CFD is the representation of the commodity, if you will.
So, in short, CFD trading is a much more flexible option for those that desire it. It’s more secure, and carries less risk. Does that mean there’s less chance for greater profits? Maybe. But where certain trades can result in a heavy drop, CFD allows you to be more frugal, and more protected.
Paris attacks suspect Salah Abdeslam has been extradited from Belgium to face trial in France.
Salah Abdeslam, 26, was wounded and arrested in a dramatic raid in Brussels on March 18 after four months on the run.
The French national was born in Brussels and lived there before the Paris attacks.
Salah Abdeslam would be held in solitary confinement in a maximum-security prison in the Paris area, said Justice Minister Jean-Jacques Urvoas.
The co-ordinated attacks carried out by so-called Islamic State in Paris on November 13, 2015, claimed 130 lives and left dozens more severely wounded.
Belgium’s federal prosecutor said Salah Abdeslam had been “surrendered to the French authorities this morning [in execution of the European Arrest Warrant issued by France on March 19, 2016]”. He was then formally placed under arrest.
Although Salah Abdeslam was initially held at a prison in Bruges, he had most recently been in custody at a high-security jail at Beveren, near Antwerp.
He is charged in France with participation in terrorist murder and the activities of a terrorist organization.
He was also indicted by Belgian authorities last week over a shoot-out in the Forest area of Brussels in which four police were wounded, three days before he was arrested.
Earlier, French criminal lawyer Frank Berton told French media that he would be taking on Salah Abdeslam’s defence in France following a two-and-a-half-hour meeting between the two last Friday at Beveren.
Frank Berton BFMTV he hoped the man would be judged “for what he has done and not what he has not done… not for what he represents because he is the last survivor”. Most of the Paris attackers are now dead.
He described Salah Abdeslam as “falling apart because of the drama that unfolded in France” and said he wanted to explain his actions.
Frank Berton said he was aware of the risks in representing his client, but insisted “he has the right to a fair trial”.
Salah Abdeslam’s Belgian lawyer, Sven Mary, has spoken of the dangers he faced in representing him – telling France’s Liberation website that he was threatened, assaulted physically and verbally in his office, and that on occasion police had escorted his daughters to school.
We live in turbulent times, not least due to extreme weather conditions. And, the consequences of natural disasters can be severe for small businesses. In today’s guide, we’re going to take a look at how you should react if your small business suffers from a natural disaster. Read on to find out more.
Do you have insurance protecting you from natural disasters? In some states, it is a necessity, but if you aren’t located in one of those areas, it’s not something you should avoid. Insurance means you get the cover and protection you need in the result of an extreme weather event. Nobody – not even meteorologists – can give you a 100% assurance nothing will happen where you work. Get the protection in place, and you will not have to shoulder the burden of clearing up alone.
Contact all employees
First of all, you will need to contact all your employees. Their safety is your responsibility, and you have to find out if there are any injuries in your workplace due to the event. You should also start to take names and contact details of everyone that is still available to work so that you can plan your business in the days ahead. Don’t forget that many employees will have family and friends suffering from the disaster, so may not be able to focus on their work activities. It’s important to weigh up each employee on an individual basis. Some might need to stay away while others can feel undervalued if they aren’t working.
Cleaning up
When the dust settles, there’s the matter of cleaning up after the event. Of course, how you approach this depends largely on the event itself. In an earthquake scenario, things can be changed forever – and you might be looking at a move elsewhere. However, some disasters, such as floods, are recoverable. Get hold of a disaster cleanup company to help you get everything back in order.
Identify critical activities
The next step is to start getting your business back on track. Make sure you outline all the business critical activities that need doing. The idea here is to keep your business running as normally as possible. You may need to find temporary accommodation – but if you have insurance, this might be already in place. In a worst-case scenario, you can ask your employees to work from home if suitable.
Find funding
Even with insurance, you might struggle to afford to recover your business. The good news is that there are funds available. Contact the Small Business Administration, who can provide loans for natural disasters of up to $2 million. Interest rates tend to be competitive, so it’s best you start your search for funding there.
IT recovery
Another important aspect of your business lies in your data. It is essential that you contact a disaster data recovery firm who will – hopefully – be able to save your vital information. One good way of preparing for the worst is to start using cloud-based services such as Dropbox and Google Drive.
We hope this has helped. The main thing to remember is that your business can survive the biggest natural disaster. We wish you all the best.
Republican presidential hopeful Donald Trump has won primaries in all five states that voted on April 26, while Democrat Hillary Clinton triumphed in four out of five.
Donald Trump called himself the Republican “presumptive nominee” after victories in Connecticut, Delaware, Maryland, Pennsylvania and Rhode Island.
The results bring the New York businessman closer to the number of delegates he needs before the party’s national convention in July.
For the Democrats, Hillary Clinton was denied a clean sweep by Bernie Sanders.
Vermont Senator Bernie Sanders won in Rhode Island and vowed to fight to the end of the primaries process.
Speaking at the Philadelphia Convention Center after securing the four other states, Hillary Clinton said her campaign was setting “bold, progressive goals” to improve lives in the US.
Photo Getty Images
“We believe in the goodness of our people and the greatness of our nation,” she said.
After his sweep of the five states, Donald Trump said of the battle for the Republican nomination: “It’s over. As far as I’m concerned, it’s over.”
He told supporters in New York he would not moderate his policies if elected president.
Donald Trump said: “You know I went to the best schools. I’m like a very smart person. I’m going to represent our country with dignity and very well.
“But I don’t really want to change my personality. You know, it got me here.”
After their victories, Donald Trump and Hillary Clinton turned their fire on each other.
Donald Trump said his Democratic rival’s only advantage in the presidential race was being a woman.
“Frankly, if Hillary Clinton were a man, I don’t think she’d get 5% of the vote,” he said.
Hillary Clinton hit back at his accusation that she was playing the “woman card”.
“Well, if fighting for women’s healthcare and paid family leave and equal pay is playing the woman card, then deal me in,” she told cheering supporters in Philadelphia.
Donald Trump’s rivals, Ted Cruz and John Kasich, have already shifted their attention to forthcoming states.
As part of a new campaigning pact, John Kasich will give Ted Cruz a “clear path” to tackle Donald Trump in Indiana on May 3, with Cruz reciprocating for Kasich in the Oregon and New Mexico primaries.
Donald Trump has condemned their pact as a sign of weakness and desperation, and another sign of the GOP colluding against him.
Neither John Kasich nor Ted Cruz has a chance of securing the Republican nomination outright. The hope of a contested convention this July in Cleveland is keeping them in the race.
This scenario would see party delegates – Republican officials and activists – choose the nominee.
Analysts believe that Indiana, with its 57 delegates, will be crucial if Donald Trump’s rivals are to stop him securing the 1,237 he needs to win outright.
Opinion polls suggest Donald Trump has 39% support there, Ted Cruz 33% and John Kasich 19%.
Between $500 million and $800 million in cash from ISIS funds has been destroyed in airstrikes, a US military official says.
In a briefing to reporters, Maj. Gen. Peter Gersten, who is based in Baghdad, said the US had repeatedly targeted stores of the group’s funds.
The blow to ISIS’ financing has contributed to a 90% jump in defections and a drop in new arrivals, he said.
In 2014, the US Treasury called ISIS “the best-funded terrorist organization” it had encountered.
Maj. Gen. Peter Gersten, the deputy commander for operations and intelligence for the US-led operation against ISIS, said under 20 air strikes targeting the group’s stores of money had been conducted.
He did not specify how the US knew how much money had been destroyed.
In one case, the general said, an estimated $150 million was destroyed at a house in Mosul, Iraq.
Forces fighting ISIS received intelligence indicating in which room of the house money was stored. The room was then bombed from the air, he said.
While it was difficult to know precisely how much money had been destroyed in total, estimates put the figure at between $500 million and $800 million, Maj. Gen. Gersten said.
ISIS’ exact wealth is not known, but, after seizing oil fields and setting taxes, it approved a budget of $2 billion and predicted a $250 million surplus in 2015.
Since then, however, ISIS has lost territory, and its oilfields have been targeted in air strikes by the US-led coalition.
US intelligence indicated ISIS’ cash troubles had led it to start selling vehicles to make money.
The number of those arriving to fight for Islamic State in Iraq and Syria had fallen to about 200 a month, Gen. Peter Gersten said, down from a peak of between 1,500 and 2,000 per month a year ago.
In February, the White House said it believed there were some 25,000 people fighting for ISIS, down from close to 31,500 in 2015.
Venezuela has announced it is imposing a two-day working week for public sector workers as a temporary measure to help it overcome a serious energy crisis.
According to Vice-President Aristobulo Isturiz, civil servants should turn up for work only on Mondays and Tuesdays until the crisis was over.
The South American country is facing a major drought, which has dramatically reduced water levels at its main hydroelectric dam.
However, the opposition has accused the government of mismanaging the crisis.
The measures announced on national television by Aristobulo Isturiz affect two million public sector workers.
In the TV address, the vice-president said: “There will be no work in the public sector on Wednesdays, Thursdays and Fridays, except for fundamental and necessary tasks.”
President Nicolas Maduro had already given most of Venezuela’s 2.8 million state employees Fridays off during April and May, to cut down on electricity consumption.
He said Venezuela had been badly hit by the El Nino weather phenomenon and would return to normal when it started raining again.
“We are requesting international help, technical and financial aid to help revert the situation,” he said.
“We are managing the situation in the best possible way while we wait for the rains to return.”
“Several countries in the region have been affected by the drought, caused by El Nino. But Venezuela has the highest domestic consumption of energy.”
Venezuela’s government has already adopted a number of other measures to try to deal with the crisis. In February, shopping centers were told to reduce their opening hours and generate their own energy.
Earlier this week, the government put the clocks forward by half an hour to reduce demand for electricity in the early evening.
Last week, it announced it was introducing power cuts for four hours a day.
The power shortages have deepened Venezuela’s serious economic crisis.
Many businessmen and opposition politicians blame the energy crisis and shortages of basic goods on government economic mismanagement.
They say tough currency controls introduced in 2003 by the late president, Hugo Chavez, have only made this worse.
Meanwhile, Venezuela’s economy has also been hit by a sharp fall in the price of its main export, oil.
North Korea has announced its ruling Workers Party will hold its first congress in 36 years in May.
The North Korean Workers Party congress, which will take place in Pyongyang from May 6, will be only the seventh in the party’s history and the first under leader Kim Jong-un.
The gathering will be closely watched for signs of major policy shifts, movement among senior officials or comment on North Korea’s nuclear program.
The announcement comes as North Korea is believed to be preparing a fifth nuclear test.
North Korea has often timed its controversial tests to coincide with big political occasions.
Its fourth test, in January, was followed by the launch of a satellite.
Both were violations of existing sanctions and resulted in the UN imposing further measures limiting trade and contact with North Korea.
The last North Korean congress was in October 1980, before the current leader Kim Jong-un was born.
The congress lasted four days and among other issues saw Kim Jong-il formally named as the intended successor to then leader Kim Il-sung.
Expectation has been growing for months that the leadership was about to announce the seventh congress.
The statement from North Korea’s KCNA news agency on April 27 gave no details of the event, and did not specify how long it would last.
However, it is widely expected that Kim Jong-un will use the party’s congress to both reinforce his role as Supreme Leader and to push his agenda of economic development coupled with nuclear progress.
South Korean President Park Geun-hye said on April 26 that North Korea had finished preparations for its fifth nuclear test and could carry it out it any time.
North Korea also claimed last week to have used “cold launch” technology to fire a missile from a submarine, while South Korean officials say it also appears to be preparing another test launch of its medium-range Musudan ballistic missile.
Prince’s sister, Tyka Nelson, has revealed in court documents that her famous brother did not leave a will.
The documents, filed in state court in Minnesota, show Tyka Nelson has petitioned for a special administrator to oversee Prince’s estate.
Prince Nelson Rogers was found dead in an elevator at his Paisley Park Studios compound in a suburb of Minnesota on April 21 at the age of 57.
The size of Prince’s fortune is unclear but includes $27 million in property.
Photo Getty Images
Tyka Nelson is Prince’s only surviving full sibling and stated in the papers that immediate action was necessary to manage her brother’s business interests.
Prince is on course to dominate charts this week, as mourning fans rush to buy his music, while the Hollywood Reporter claimed over three million of his songs and albums had been bought in the US since his death.
A private memorial service was held for Prince on April 23, attended by about 20 of his closest friends and family.
Following the service, drummer and frequent Prince’s collaborator Sheila E confirmed there were plans to turn Paisley Park into a museum, akin to Elvis’s Graceland.
Japanese automaker Mitsubishi Motors has admitted to rigging some fuel consumption tests since 1991.
The admission follows last week’s revelation that Mitsubishi had falsified fuel economy data for more than 600,000 vehicles sold in Japan.
Mitsubishi Motors VP Ryugo Nakao said at a press conference in Tokyo on April 26: “For the domestic market, we have been using that method since 1991.”
The number of models affected was not yet known, Ryugo Nakao added.
The company’s president, Tetsuro Aikawa, said an inquiry was continuing, suggesting that more irregularities could be found.
Photo Getty Images
“We don’t know the whole picture and we are in the process of trying to determine that. I feel a great responsibility,” he said.
Mitsubishi hares fell a further 10% in Tokyo on April 26, bringing the slide since the scandal erupted to almost 50%.
Tetsuro Aikawa said he did not know why employees resorted to falsifying fuel economy tests to make mileage figures seem better.
The automaker had repeatedly promised to come clean after a huge scandal 15 years ago that involved a systematic cover-up of vehicle defects.
The inaccurate mileage tests revealed last week involved 157,000 of its eK wagon and eK Space, and 468,000 Dayz and Dayz Roox vehicles produced for Nissan. All were sold in Japan only.
The main attraction of the “minicars”, which have tiny 600cc engines – not much bigger than a large motorcycle – is their frugal fuel consumption and their tax breaks.
Mileage fraud breaks Japan’s fuel efficiency laws and possible penalties were unclear due to the uncertainties about the outcome of an investigation, the transport ministry said.
Mitsubishi has set up a panel of three external lawyers report on the scandal within three months.
Production and sales of all the models in question have been halted.
Commemoration ceremonies are being held in Ukraine to mark the 30th anniversary of the nuclear disaster in Chernobyl.
In the early hours of April 26, 1986, sirens were sounded at the same moment as the first explosion at the reactor.
The meltdown at the plant remains the worst nuclear disaster in history.
An uncontrolled reaction blew the roof off, spewing out a cloud of radioactive material which drifted across Ukraine’s borders, into Russia, Belarus and across a swathe of northern Europe.
The relatives of those who died attended candle-lit vigils at several churches, including in the capital Kiev and in Slavutych, a town built to re-house workers who lived near the nuclear plant.
Some former residents returned to the area, now derelict and overgrown, ahead of the anniversary. They lived in Pripyat, the town inhabited by Chernobyl workers which was abandoned in the wake of the accident.
Levels of radioactivity remain high in the surrounding area. A charity, Bridges to Belarus, is warning that a number of babies in a region close to Ukraine’s border are still being born with serious deformities, while an unusually high rate of people have rare forms of cancer.
Donors around the world pledged €87.5 million ($99 million) on April 25 towards a new underground nuclear waste facility in the region. Ukraine will need to commit a further €10 million in order to complete the new storage site.
Work began in 2010 on a 25,000-tonne, €2.1 billion sarcophagus to seal the uranium left in the damaged reactor, thought to be about 200 tonnes.
Experts fear that if parts of the aging reactor collapse, further radioactive material could be spewed into the atmosphere.
The number of people killed by the Chernobyl disaster remains disputed. A report in 2005 by the UN-backed Chernobyl Forum concluded that fewer than 50 people died as a result of exposure to radiation, most of them workers killed immediately after the disaster, but some survived until as late as 2004.
The forum estimated up to 9,000 people could eventually die from radiation exposure, although Greenpeace claims the figure could be as high as 93,000.
An Australian camper has been attacked by a crocodile inside his tent.
Peter Rowsell, 19, described how he woke up to find the crocodile had entered his tent and was biting his foot.
The young man was with his family on the banks of Palm Creek in the Northern Territory on April 25 when the attack took place, local media said.
Peter Rowsell said something was “shaking” his right foot, describing the animal as “three to four meters” long.
The man is believed to have been killed by a crocodile in the Northern Territory while swimming in Mary River during a birthday party
The man managed to fight off the crocodile, which slid back into the water.
His injuries were not life threatening.
Peter Rowsell’s sister drove him to the nearest hospital in his hometown of Katherine, which was about two hours away, where he was treated for the bite. He is expected to be released soon.
The mayor of Katherine told reporters there had been crocodile sightings near popular swimming spots recently, and called for a cull.
“We do have to live with crocs because this is their environment as well, but we don’t need to live with them dangerously,” she was quoted by News.com.au as saying.
Fullscreen has launched its own subscription video platform to rival YouTube’s offering.
Until now, the online talent company has worked on free platforms such as Instagram, Snapchat and YouTube.
However, Fullscreen said the economics of producing premium video on ad-supported platforms “did not work out”.
One industry analyst questioned whether Fullscreen had the brand recognition necessary to attract a big audience.
Fullscreen describes itself as a “modern media company”, part talent agency, part content producer. It has a roster of 75,000 “partners”, predominantly recruited through YouTube.
It has traditionally made money by brokering advertising deals for its talent, providing support to smaller video-makers in exchange for a cut of their ad revenue, and by selling tour tickets and merchandise for its biggest stars.
However, Fullscreen said it had needed to create its own subscription video platform to let video-makers “fulfill their artistic ambition”.
Consumers are increasingly rejecting expensive cable TV packages and instead subscribing to individual streaming services, known as over-the-top services.
In October 2015, Google launched its own bid to capture a new market with a premium video service called YouTube Red.
Its service features prominent YouTubers in long-form productions, although Google has not yet revealed how many paid members it has attracted.
Undercutting Google’s $9.99 offering, Fullscreen’s subscription service will cost $4.99 a month, with programs viewable on a standalone app and website.
Fullscreen said it would bolster its offer of online originals with traditional programs from TV and film studios.
Since the emergence of computers in the 20th century, advances in technology have played a major role in changing the way we do things, including the way we make money.
These days, we have what investors call Robo-Advisers. Do not fret about the name; there is nothing metallic about these advisers. These are basically software programs created to make investment decisions for investors. How cool is that-knowing that you now do not have to pay expensive fees for investment advisory?
Robo-Advisers are only beginning to gain popularity in the UK, but in the US, it’s a common term. Robo-Advisers work by providing investment advice to investors based on their individual profiles. Tired of getting that template advice from your investment manager at a premium? Robo-Advisers are developed using complex algorithms that take into consideration various investing factors which may affect an investor’s decision.
Units Established for Robo-Advice Firms
Last year, UK’s financial regulators discussed in depth about the subject of Robo-Advisers and the FCA (Financial Conduct Authority) recently revealed that it will set up a specialised unit for Robo-Advice firms.
This move was confirmed in the regulator’s recent annual business plan; it revealed that it had accepted recommendation by the FAMR (Financial Advice Market Review) to develop a specialised unit for firms interested in launching Robo-Advice platforms.
Since last year several investment advice firms have launched Robo-Advice platforms while banks are also believed to be showing real interest in Robo-Advisers. This paradigm shift has not escaped criticism from wary investors as some worry about the risks involved in using such a platform to cater for their investment needs.
These fears were recently echoed by FCA Chair John Griffith when he said that the regulator was fully aware of the risks and potential rewards of Robo-Advisers.
‘Technology can drive down the cost of accessing products and services, and can push up the quality of service,” said Griffith, commenting on FCA’s recent annual business plan. ‘But it can present challenges to markets and regulators alike, including resilience, cyber-crime and financial exclusion.’
Not a Replacement for Comprehensive Investment Advice
This also implies that while costs are bound to be lower on Robo-Advice platforms, it would be premature to assume that Robo-Advisers will replace traditional investment advisers in their entirety.
This can be in the form of extended experience in the market as well as varying opinions from the advisory team. Therefore, Robo-Advisers can do some of the things that traditional investment advisers do, but they certainly cannot do everything.
With Robo-Advice, an investor fills in to the platform certain details about his/her investment profile including age, investment income, annual income, and risk appetite, among others from which the system draws conclusion on the best investments for the individual. As such, you could say that Robo-Advice works pretty much like WebMD, where patients input their health/injury profile to receive guidance on potential treatments. However, you never really get a prescription.
The same thing applies to Robo-Advice, the information you provide is used to generate leads on investments opportunities, but it never really invests on your behalf.
Conclusion
In summary, there are genuine concerns about the reliance on Robo-Advisers, but given the fact that these platforms are operated by fully regulated firms, it means that investors can at least be comfortable with their authenticity.
However, it is also good to note that Robo-Advice cannot be taken on face value and then directly implemented in an investment portfolio. Investors need to take into consideration all factors that may affect their investments decisions including those that cannot be put in a Robo-Adviser algorithm.
