New Delhi: Delhi Police on Friday said that officers from Vasant Kunj police station busted a gang of highway robbers, arresting one of their members on March 11 from a village in Sohna, Haryana. The case was picked up by police following the complaint of one of their victims, who was held captive by the accused for more than six hours. Police said that the accused, Arshad Khan (28), used to drive in a taxi near Mahipalpur on NH-8 with his associates, looking to rob citizens under the pretext of giving them a ride. “The team got a tip-off about Khan’s whereabouts, following which they conducted raids and arrested him,” said police.
New Delhi: Delhi BJP on Friday lashed out at AAP chief Arvind Kejriwal over his controversial tweet that depicted his party symbol, a broom chasing a “Hindu swastika”, saying it is a violation of the model code of conduct and aims at disrupting communal harmony. “The Aam Aadmi Party should be invalidated and strict action should be taken against it for attempts to incite communal tension,” BJP leader Vijender Gupta said.The tweet, posted late night on March 20, triggered an uproar on the social media, with the Twitterati slamming the Delhi chief minister for his post, prompting the ruling party to come out with a clarification saying it was not ‘Swastik’ but the Nazi symbol that the AAP leader had tweeted. Also Read – After eight years, businessman arrested for kidnap & murder”It is not only an objectionable tweet aimed at disrupting the communal harmony but also a violation of the model code of conduct. What is the kind of message he (Kejriwal) wants to send out? We demand that their party is invalidated and strict action taken against them for attempts to incite communal tension,” Gupta told reporters. The Delhi BJP on Tuesday alleged that the AAP was trying to incite communal tensions by “politicising the cow” and said it would lodge a complaint with the Election Commission. The BJP’s reaction had come on a tweet by AAP Lok Sabha poll candidate Raghav Chadha in which he wrote “door to door campaigning by BJP” and posted a photo of a cow and a calf standing at the doorstep of a house.
A manifesto is a 5 year vision for political parties and the road map for social and economic goals. When a vision suddenly misses its significant presence in the manifesto, after it was prominently inked in earlier case, it suggests that it loses its sheen to achieve the goal. In the 2014 BJP manifesto, FDI was heightened as the backbone for Make in India. A separate chapter on Foreign Investment was included. In 2019 manifesto, a feather touch was made on foreign investment. To this end, missing FDI significance in 2019 manifesto raised eyebrows of many. In 2014 manifesto, it chanted “FDI will be allowed wherever needed for job and asset creation…We should not remain a market for global industry. Rather, we should become a Global Manufacturing hub”. Also Read – A special kind of bondDuring BJP’s ruling, India received a gushing flow of cash from foreign investors. Not only this, there was a great leap in quality FDI flow. During 2017-18, more than one-fourth of FDI was flowed in computer software/ hardware and telecommunication, compared to one-sixth share in 2014-15. Given this paradigm shift in FDI, India made a dynamic shift in modern equipment manufacturing and development of services. Indeed, FDI contributed a lot in upgrading India’s manufacturing level to modern manufacturing. Today, more than 50 per cent of cellular mobile phones are manufactured in the country, against none in 2014 after Nokia shut down its shop in Chennai Also Read – Insider threat managementDuring the first four years of BJP government, its pro-foreign investment policy stoked FDI in the country. It spurred by over 45 per cent during the four years period – from US$ 31 billion in 2014-15 to US$45 billion in 2017-18. Besides gushing flow, FDI perked up India’s modern manufacturing level akin to Global Value Chain manufacturing. During 2016-17 and 2017-18, more than one-fourth of FDI flowed in computer software and hardware and telecommunications, such as manufacturing cellular mobile phones and communication equipment. One of the major roles of FDI for an emerging economy is balancing the trade deficit, particularly when the nation is swamped by heavy import of crude oil. India is hamstrung by widening trade deficit, mainly due to large dependence on crude oil. In addition to this, with Modi led BJP vowing for fast growth in digitisation, demand for electronics sky-rocketed. Eventually, it triggered imports of electronic items, given the lackluster development in the country. Electronic imports are the second biggest component in India’s total imports, after crude oil. China is the biggest supplier of electronic items to India, and hence, the major cause of widening trade deficit. In 2017-18, India’s trade deficit with China was highest. It accounted for 38 per cent of India’s total trade deficit. The main cause for this was oversupply of electronic items by China. Over 57 per cent of India’s total imports of electronic items came from China. Given this situation, the counter measure to reduce the trade deficit suggests that more and more Chinese investment should be lured in India, instead of anti-dumping measures. China is seen not a foe, but an opportunity after the US-China trade tiff. Trust deficit has diluted and both are vying each other hearts to increase bilateral investment and trade. Deceleration in Chinese GDP growth, with a rare hope in reverting to high growth paradise in the near term, caused a paranoia among the foreign investors, including the Chinese. Eventually, investment through M&A in China slumped. The steep downfall led China less attractive than India. In 2018, investment in India through M&A was US$ 93.7 billion, which was three times more than in China, amounting to US$ 32.8 billion. The volta-face of China towards India, affected by dilution in trust deficit during the ongoing trade war, was unveiled by its praise over India’s potential as an important destination for investment. According to Mr. Zjao Gancheng, Director of Centre for Asia Pacific Studies at Shanghai Institute of International Studies “India has a wealth of experiences in utilising international capital. There is no doubt it has become more attractive to foreign investors”. As of the end of 2017, the Chinese Ministry of Commerce recorded Chinese investment in India more than US $ 8 billion. Start-ups, infrastructure, and electronic manufacturing have become the key areas for Chinese investment. Nearly US $2.5 billion was committed for investment in Start-up business in between 2015 and 2016. The major investments were Beijing Mitene Communication Technology investment of US $ 900 million in Media.net and Alibaba investment of US$680 million in Paytem and US$ 500 million in Snapdeal. Chinese brand cellular phones, manufactured in India, account for over 51 per cent of the smartphones sales in India. Large penetration of Chinese top brands of smartphones, like Xiaomi, Oppo, One-plus, Gionee, Vivo, Huawei are posing challenges to Koreans and Japanese brands. The Deloitte survey, Global Manufacturing Competitiveness Index (GMCI), 2016, forecasted India to outbid China in low-cost manufacturing competitiveness in the next five years. According to the survey, while China will lose the powerhouse of low-cost manufacturing competitiveness, the Mighty Five – the five Asia Pacific nations, Malaysia, India, Thailand, Indonesia, and Vietnam – will emerge the choice for low-cost manufacturing in place of China. India will be the frontrunner with four countries chasing behind, the survey said. (The views expressed are strictly personal)
Liberia’s ex-warlord Charles Taylor was on Tuesday transferred from The Hague to a British prison to serve his 50-year sentence for war crimes, the Special Court for Sierra Leone said.“Charles Ghankay Taylor… was transferred today from the Netherlands and the custody of the Special Court to the United Kingdom, where he will serve the remainder of his 50-year sentence for war crimes and crimes against humanity,” the court’s Freetown office said in a statement.
Geneva – Morocco has attracted 3.36 billion dollars of foreign direct investment (FDI) in 2013, a significant increase of 23 percent compared to the previous year, according to a UN report on “World Investment.”According to the report of the UN Conference on Trade and Development (UNCTAD), the Kingdom is reinforcing its positioning as a hot destination for foreign investment, thanks to an industry with a strong potential.It is the manufacturing sector that attracts most foreign investors, followed by the real estate sector, agribusiness and infrastructure, said experts from the Geneva-based UN agency. The UNCTAD notes that Morocco has benefited from a strong growth in its FDI in 2013, despite investment slow-down in North Africa, because of the political and social unrest.As for outward investment flows from Morocco, they were down 18 pc in 2013 to reach 331 million against 406 in 2012.
Casablanca – This summer in Germany has turned into the summer of refugees. This issue is a priority of Germany’s political agenda and feeds their local newspapers on a regular basis.Hundreds of thousands of refugees have fled to Germany for protection and support. The German authorities have nearly reached their limits: personally, physically, and emotionally. The situation in German refugee camps is currently full of chaos, nuisances, and violent outbursts. This is due to the overcrowding of camps and the lack of staff to cope with medical and psychological issues.The number of refugees is increasing tremendously. According to the German Federal Office for Migration and Refugees, approximately 180,000 new asylum applications were registered in the first half of 2015. This is a substantial increase from the numbers in 2014. Refugees have come to Germany from Syria, Albania, Afghanistan, Iraq, Serbia, Kosovo, Eritrea, Macedonia, Pakistan, and Montenegro.Although Germany tries to evenly distribute the refugees throughout the federal states, the problem of lack of accomodations remains. This led to temporary solutions, such as setting up tents in parks, parking lots, gyms, youth hostels, isolated fields, and others.The influx of refugees has split a clear line among the German public. While many Germans volunteer to help wherever possible, a minority of people, especially from the extreme right-wing, try to agitate the German people to develop xenophobia.
Rabat – Manchester United’s Manager, Louis Van Gaal, expressed his concern following a few physical injuries suffered by his left-footed players.The British club has been forced to take two footballers, who happen to be left-footed, out of the game due to injuries, namely the English left-back Luke Shaw, who has a broken leg, and the Argentinian international Marcos Rojo, who has a hurt hamstring.Dutch manager, Van Gaal, said he is facing a problem because of this series of injuries. “The left-footed players, Shaw and Rojo, are injured, so I have a problem,” he said according to British media.Shaw and Rojo were left out of Wednesday’s United’s match against Ipswich, in which Van Gaal’s team scored an absolute win (3-0).Despite their win, United’s manager had to come up with a strategy to retain the “balance” within his team, in order to lessen the absence of Shaw and Rojo on the pitch.“We have to spare the players. Smalling and Mata have played all the minutes, Blind also,” he said.“I have changed every player except a left-foot player, so Blind has played all the minutes,” he added.
Dakar – The 3rd edition of the Higher Education Fair by the Organization of Islamic Cooperation (OIC) opened, on Monday in Dakar, with the participation of Morocco as a guest of honor.The Moroccan delegation is led by Minister of Higher Education, Scientific Research and Executives’ Training Lahcen Daoudi, and includes notably Morocco’s ambassador in Dakar, Taleb Barrada.Held under the theme “Higher Education: For good quality and employability”, the fair, which is initiated mainly by the Senegalese Ministry of Higher Education and OIC’s Islamic Center for Development of Trade (ICDT), is aiming to increase intra-OIC trade of goods and services up to 25 percent by 2025. This event, which runs until May 12th, is also meant to encourage investment in the higher education sector and develop partnerships between the universities of Senegal and other OIC member states.The program features also an exhibition of higher education services, conferences and workshops.With MAP
By Safaa KasraouiRabat – Dar Essalaam will host the 44th annual Hassan II Golf Trophy and the 23rd edition of the Lalla Meryem Golf Cup April 10 to 16.The events expect more than 200 of the world’s best golfers. “We are expecting a very high plateau of famous players, namely the 21 year old South Korean player Jeunghun Wan, who already achieved 3 victories on the European circuit,” said Mustapha Zine, the organizer of both events and the vice-president of the Hassan II trophy.He went on to add that the event is expecting emblematic golfers from South Afria, such as Brandon Strone, Richard Sterne and Jaco Van Zyl.Other international golf players will be also participating in the 44th edition of Hassan II Golf Trophy, including the best Canadian golfer with 7 victories on the American tour, Mike Weir along with French Victor Dubuisson, Alexander Levy, Spanish player Pablo Larrazabal and the German Joost Luiten.“The timing is optimal this year,” he added.Morocco will be represented by Youness El Hassani, and other Moroccan amateur golfers will also take part in the event.At the same time, Lalla Meryem Golf Cup which will celebrate its 23rd edition in same slot, will bring together famous women golfers of the European circuit.The competition is among the top 5 of the Ladies European Tour.This event will be marked by notable figures in the world of women’s golf, including Laura Davies, Gwladys Nocera, Nuria Iturrios and Suzann Pettersen.Morocco will be represented in the competiton by Maha Haddiouithe, the only Arab woman on the European circuit.
Rabat – American film director James Gray will chair the jury of the 2018 Marrakech international Film Festival (FIFM) November 30 to December 8. “The Marrakech Film Festival is a unique place where the language of cinema brings together people from all over the world. It is an immense honor to be named president of the jury and to return for the third time in this great festival,” said the filmmaker in a statement issued Wednesday by the organizers.Born in New York, the 49-year-old artist grew up in Queens but studied at the Film and Television School of the University of Southern California. Gray made his film debut in 1994 at the age of 25 with “Little Odessa,” a critically-acclaimed film that won the Critics’ Prize at the Deauville Festival and the Silver Lion at the Venice Film Festival. He was named the same year to the Independent Spirit Awards for the Best First Feature Award and the Best Screenplay Award. His second film, “The Yards,” was selected to show in the 2000 Cannes Film Festival, just as “We Own the Night” in 2007. In his latest film, “Two Lovers,” nominated for the Césars, James Gray teams up for the third time with actor Joaquin Phoenix. The romantic drama, set in Brooklyn, also stars Gwyneth Paltrow and Isabella Rossellini. “Two Lovers” was selected to show in 2008 at the Cannes Film Festival.Gray has collaborated with the biggest names in Hollywood such as Brad Pitt, Gwyneth Paltrow, and Charlize Theron.Since its inauguration in 2002, the FIFM has welcomed notable cinematic personalities, including Francis Ford Coppola, Charlotte Rampling, Martin Scorsese, and Marion Cotillard. Last year, Marrakech’s festival was cancelled “in order to allow the festival to advance in its mission not only to promote Moroccan cinema, but also to open up to other cultures,” said the organizers in a statement.
Rabat – Spain received 57,250 irregular migrants who crossed the Mediterranean in 2018 up to December 26, according to Spanish outlet El Pais.The International Organization for Migration (IOM) estimated the figure could surpass 58,000 arrivals by the end of 2018 with an average of almost 160 arrivals daily.El Pais added that 300 migrants arrived in Algeciras on December 28 aboard the Open Arms humanitarian ship. Arrivals in Spain this year accounted for 50 percent of all undocumented migrants that arrived in Europe via Spain, Italy, Greece, Cyprus, and Malta across the Mediterranean, which totalled 113,145 by December 19, 2018, according to IOM.While the number for Spain is a record, the total number is low compared to the migrants and refugees who entered Europe by sea during the same period in 2017 (168,258) and 2016 (359,160).El Pais cited Amparo Gonzalez of the state-funded scientific research agency CSIC, saying that many of the irregular “migrants – who are mainly from Morocco, Guinea and Mali – will not settle down in Spain.”Read Also: Spain Proposes Speedboat Ban to Curb Immigration, Drug TraffickingAccording to the UN High Commissioner for Refugees (UNHCR), 31 percent of those who entered Spain irregularly were from Morocco, 20 percent from Guinea, and 16 percent from Mali.Thirty to 50 percent of the irregular migrants who enter Spain either go to other European countries, or are deported to their home countries, especially if they are Algerians or Moroccans, Gonzalez stressed.She noted that sub-Saharan africans in Spain represent a minority of migrants, blaming media for spreading the misconception that “all of Africa wants to come to Spain.”Javier Aparicio Maydeu, an analyst, believes that irregular migration across the Mediterranean route will continue until Europe reaches an agreed-upon migration policy.But with the 2019 election coming soon in Spain “any changes will be put on hold,” Maydeu added.2,242 people died crossing the MediterraneanMore than 3,400 people died or went missing on migratory routes across the globe in 2018, including 2,242 deaths only in the Mediterranean.At least 769 undocumented migrants died using the western Mediterranean route from Morocco to Spain in 2018, over three times the recorded Mediterranean deaths in 2017, according to IOM.Waves of undocumented migrants will continue reaching Europe through Spain this year. Just yesterday, January 1, Spanish rescue services assisted 111 migrants traveling on three boats in the early hours of the day, according to El Pais.
DUESSELDORF, Germany — Worried about Brexit? Come to Germany where you get better salaries, better weather, tastier food — and a shorter trip for visits home to Poland.That’s a German hospital’s pitch to Polish nurses working in Britain, who are among scores of European workers worried about what will happen to their work permits and right of residence if the United Kingdom leaves the European Union on March 29.The university hospital of Duesseldorf put out the ads in two Polish weekly papers in Britain late last month. It’s more than a friendly Brexit lifeline extended to citizens of a neighbouring country: the hospital is in dire need of nursing staff and is hoping to fill that shortage with experienced professionals whose time in Britain may be running out.“We have already received first inquiries,” Torsten Rantzsch, the director of nursing at the hospital in western Germany, told The Associated Press. He said the ads were deliberately written in a tongue-in-cheek style, but that “we also wanted to offer an alternative to Polish colleagues, namely the security of an EU country.”Tens of thousands of European Union citizens currently living and working in Britain are concerned about what will happen to their status when the UK leaves the 27-country bloc. With just a month to go before Brexit day, there has been no clarity on their future status — and that uncertainty is worsened by the prospect of a no-deal Brexit.Since Poland joined the EU in 2004, 20,000 of the country’s 280,000 nurses have left their home country for Britain and elsewhere in Western Europe.The advertisement features Duesseldorf’s pretty skyline with the city’s landmark TV tower in front of blue skies and the Rhine River in the foreground, with the pitch written in both Polish and German.The hospital decided to focus its campaign specifically on Poles, because many learn German in school and would be able to fit in quickly, Rantzsch said.“We deliberately kept the advertisement in German … because we wanted to address German-speaking nursing staff,” said Rantzsch, adding that the Duesseldorf university hospital needs to hire 100 additional nurses. Overall there’s a shortage of 70,000 nursing staff in German hospitals.The hospital has already had good luck turning abroad to fill its shortage of skilled nurses. In 2012, Duesseldorf’s university hospital — and many other hospitals across Germany — started looking for nurses in Spain and other European countries with higher unemployment or lower wages at the time, like Italy, Hungary and Romania.One of the first international recruits in Duesseldorf, Susana Garcia from Spain, first found out about the opportunity from the newspaper ads. She says she loves her job at the university hospital.“Working conditions here in Germany are super,” the 29-year-old nurse said. “We have full-time contracts even though we’re very young, we’ve been here now for six years.”___Grieshaber reported from Berlin. Vanessa Gera contributed from Warsaw, Poland.Mstyslav Chernov And Kirsten Grieshaber, The Associated Press
Rabat – A young student from New Zealand visited a mosque in Netherlands to show solidarity and support for Muslims.With tears and cracking voice, the student showed respect and solidarity with the people, apologizing for the attacks that claimed the lives of 50 victims during a planned terror attack by a 28-year old Australian on Friday.A video filmed by theatermaker Salaheddine Benchikhi shows the student expressing his regret and giving his condolences to Muslims in the Essalam Mosque in Rotterdam. “I am from from New Zealand and I have bought some flowers for the people there. And I don’t know what I can do, but I have to do something for the people there,” the young student told Benchikhi.Read Also: New Zealand Terror Attack: 17-Year-Old Eggs Islamophobic SenatorAfter his heartwarming message, Benchikhi hugged the student in an emotional moment.Benchikhi also interviewed more people who brought flowers to the mosques to express solidarity.One of the interviewees said that citizens are relying on the government to ensure security and stability.The two people said that they are mourning for the people in New Zealand and that it’s their “turn to give flowers and to tell the people they love them.”New Zealand’s Prime Minister Jacinda Ardern visited the attacked mosques on Sunday. Photo of her hugging Muslims went viral on social media.While world leaders and people around the world slammed the massacres, some Western tabloids showed sympathy with the 28-year old attacker, Brenton Tarrant.The Daily Mirror, a British tabloid labelled the attacker an “angelic boy who grew into an evil far-right ass killer.”The daily also put a photo in its cover, showing Tarrant as a young boy.The tabloid also described the attacker as a “likeable and dedicated personal trainer running free athletic programmes for kids.”The description received strong and condemning comments on social media.There is absolutely no chance a newspaper would splash a childhood photo of an Islamist terrorist who murdered 49 Christians in a church as an “angelic boy”. Displacing focus from the victims to oh how could such a sweet WHITE boy become a terrorist is abhorrent pic.twitter.com/pcQCOBzMpT— Owen Jones (@OwenJones84) 16 mars 2019British columnist and political commentator Owen Jones slammed the tabloid, saying that “there is absolutely no chance a newspaper would splash a childhood photo of an Islamist terrorist who murdered 49 Christians in a church as an “angelic boys.”He added, “Displacing focus from the victims to oh how could such a sweet WHITE boy become a terrorist is abhorrent.”The attacks on two mosques in Christchurch claimed the lives of 50 and injured at least 50 others.The victims are aged between 3 and 77.
The Canadian Press Companies in this story: (TSX:DOL) MONTREAL — Dollarama Inc. raised its dividend as it reported a fourth-quarter profit of $172 million, up from $162 .8 million a year earlier.The retailer says it will now pay a quarterly dividend of 4.4 cents per share, up from four cents.The increased payment to shareholders came as the company said it earned 54 cents per diluted share for the quarter ended Feb. 3, compared with a profit of 48 cents per diluted share in the same quarter a year earlier.Sales for the 13-week period totalled $1.06 billion, up from $938.1 million, while comparable store sales grew 2.6 per cent.Analysts on average had expected a profit of 55 cents per share and revenue of $1.07 billion, according to Thomson Reuters Eikon.In its outlook for the coming year, Dollarama says it expects to add 60 to 70 new stores.
LONDON — In a bid to fight air pollution, London has introduced one of the world’s toughest vehicle emissions standards, placing a tax on older, more polluting cars that drive into the centre of the British capital.Starting Monday, the drivers of diesel cars more than 4 years old and of gasoline-powered engines more than 13 years old must pay a 12.50-pound ($16.30) fee day or night when entering central London. That’s on top of London’s congestion charge, which is 11.50 pounds ($15) between 7 a.m. and 6 p.m. on weekdays.Non-compliant trucks and buses face a 100-pound ($130) daily fee.London Mayor Sadiq Khan says the Ultra-Low Emission Zone is necessary since thousands die annually in London alone from toxic air. He says “the eyes of the world are on us.”The Associated Press
NEW YORK — Univision has sold tech site Gizmodo, satirical-news hub The Onion and other English-language sites to the private equity firm Great Hill Partners. Terms were not disclosed.The Spanish-language broadcaster bought much of what was then known as Gawker Media for $135 million in 2016 after the gossipy, confrontational media company lost a privacy suit against Hulk Hogan. (The original Gawker.com has a different owner. It is being relaunched by another digital media company, Bustle.)Just a few years ago, Univision was investing in English-language digital sites aimed at young people. It had bought The Onion in January 2016 and African-American news site The Root in 2015.But the strategy didn’t turn out well. The sites were not profitable and the company has refocused on Spanish TV. Univision, based in New York, put them up for sale last summer.Several digital-media companies have recently run into trouble. For example, BuzzFeed laid off workers to help it become profitable, while Mic sold itself to Bustle after firing most of its employees. The online-ad business is dominated by tech giants Google and Facebook. Amazon is also encroaching on that space.Great Hill said Monday that it’s calling its new media company “G/O Media.” The collection of sites also includes the female-focused Jezebel, sports site Deadspin and pop-culture site “A.V. Club.” James Spanfeller, a digital-media veteran who is the former Forbes.com CEO, will lead the company and is also a “significant” investor in it.Great Hill has previously invested in media companies, including Ziff Davis, the publisher of PCMag.com, which it sold in 2012.Tali Arbel, The Associated Press
SACRAMENTO, Calif. — Shut out of the traditional banking system by federal laws, the country’s largest legal marijuana market in California could benefit if the state approves a measure creating a special class of banks to handle pot money.The state Senate voted 35-1 on Tuesday to pass a bill that would allow people to start banks and credit unions that could accept cash deposits from marijuana retailers.Those banks could issue special checks to the retailers that could only be used to pay taxes, rent or California-based vendors.State lawmakers also say such banks would make it easier for licensed pot retailers to pay their taxes, which fell far short of expectations in the first year after legalization.“This is as close as we can get until the federal government changes its policy,” said Sen. Bob Hertzberg, D-Van Nuys, the author of the bill that now goes to the Assembly.Marijuana has been legal in California since January 2018, but it’s still illegal under federal law.U.S. statutes also prohibit banks from handling money that comes from criminal activity. Banks that knowingly accept money from licensed marijuana retailers haven’t been able to get federal deposit insurance.Meanwhile, pot businesses can’t get debit or credit cards or use checks, according to a report by legislative staffers.The result, according to Hertzberg, is “millions of dollars buried in barrels.” He called it a public safety issue, putting retailers at risk of robbery.Marijuana tax collections were $100 million short of expectations in August. Earlier this month, marijuana revenue projections by the state through June 2020 were cut by $223 million.Republican Sen. Jeff Stone said the state is losing “probably hundreds of millions” of dollars in taxes each year because marijuana retailers can’t write a check to the state.“They’ve got to come in with wheelbarrows to carry in all the cash,” he said.Retailers have also blamed low tax collections on sluggish sales due to a still flourishing black market.Last week, lawmakers rejected a bill that would have temporarily lowered taxes on growers in an effort to help licensed retailers compete with the illegal sellers.___The legislation is Senate Bill 51Adam Beam, The Associated Press
Stocks closed broadly higher on Wall Street Tuesday after the U.S. government temporarily postponed proposed restrictions on technology sales to Chinese companies.The news boosted chipmakers and other technology sector stocks, which took steep losses a day earlier when the Trump administration announced the restrictions. Health care, financial and industrial stocks helped power the rally, which snapped the market’s two-day losing streak.On Tuesday:The S&P 500 index rose 24.13 points, or 0.9%, to 2,864.36.The Dow Jones Industrial Average gained 197.43 points, or 0.8%, to 25,877.33.The Nasdaq composite climbed 83.35 points, or 1.1%, to 7,785.72.The Russell 2000 index of small company stocks picked up 20.28 points, or 1.3%, to 1,545.25.For the week:The S&P 500 is up 4.83 points, or 0.2%.The Dow is up 113.33 points, or 0.4%.The Nasdaq is down 30.56 points, or 0.4%.The Russell 2000 is up 9.48 points, or 0.6%.For the year:The S&P 500 is up 357.51 points, or 14.3%.The Dow is up 2,549.87 points, or 10.9%.The Nasdaq is up 1,150.45 points, or 17.3%.The Russell 2000 is up 196.69 points, or 14.6%.The Associated Press
BERLIN — A closely watched index of German business optimism has fallen for the second month in a row as the mood among company managers in Europe’s largest economy weakened further.The Munich-based Ifo institute said Thursday its business climate index slipped to 97.9 points in May from 99.2 in April.The drop was driven by a considerably worse assessment of the current business situation, which dropped to 100.6 from 103.4 the previous month. Expectations for the next six months, however, remained unchanged at 95.3.Despite some recent positive signs, Ifo says the poll indicates “the German economy is still lacking in momentum.”The survey is based on some 9,000 responses from firms in manufacturing, the service sector, trade and construction.The Associated Press
PARIS — Unions and owner Ferrero say workers at the world’s biggest Nutella factory have removed picket lines and are back to work after production after was brought to a near standstill in a dispute over salary negotiations.Ferrero said on Wednesday that access to the factory was reopened overnight and that “normal activity” had resumed at the site.Activists from Workers’ Force at the factory in Villers-Ecalles in Normandy had barred trucks from entering or leaving the factory for a week.Spokeswoman Prescillia Bourguignon said management had made “positive progress.”The plant produces 600,000 jars of the chocolate and hazelnut spread every day — a quarter of the world’s output.The Associated Press