Big Labor group tweets 'guillotine' joke after Delta Air Lines CEO opposes unionization efforts - Fox News

The AFL-CIO, the largest labor organization in the U.S., came under fire Thursday after tweeting a parody version of a real Delta Air Lines print ad that suggested that workers could find other uses for the $700 a year they would spend on union dues.

The parody ad suggests that the workers could instead spend $1,200 to build a guillotine -- perhaps implying that the device would be used on company executives.

The AFL-CIO tweet, which was later deleted, showed the two ads side-by-side, with a big red "X" over the real Delta ad and a big red check mark over the parody ad.

TRUMP BLASTS AFL-CIO BOSS AND TOUTS REBOUNDING ECONOMY IN SERIES OF LABOR DAY TWEETS

The AFL-CIO, the largest labor organization in the U.S., came under fire on Thursday after tweeting a picture of a guillotine and apparently threatening Delta CEO Ed Bastian after the company came out against unionization. (Twitter)

The tweet appeared to be aimed at Delta CEO Ed Bastian, after the company came out against efforts by the International Association of Machinists and Aerospace Workers to get certain Delta employees to unionize.

The AFL-CIO, which represents 12.5 million union workers, jumped to criticize Delta for opposing unionization and shared the ill-advised Twitter joke.

The tweet remained online for at least a couple of hours before it was deleted.

AFL-CIO spokeswoman Carolyn Bobb later told CNN that the labor organization didn’t make the image, having just found it on social media.

SPECIAL ED TEACHER SUING CALIFORNIA UNION IN CASE THAT COULD COST LABOR BIG

“We strive to keep our Twitter account actively engaging and real to advocate for working people,” she said. “We came across and shared this Internet meme. We realize it was in poor taste, that [it] doesn't reflect the values of the AFL-CIO and it has been taken down.”

“We came across and shared this Internet meme. We realize it was in poor taste, that [it] doesn't reflect the values of the AFL-CIO and it has been taken down.”

— AFL-CIO spokeswoman Carolyn Bobb

The picture of a guillotine came after social media circulated the anti-union flyer made by Delta, which featured a gaming controller and suggested the union fees might be better spent on gaming.

“Union dues cost around $700 a year. A new video game system with the latest hits sounds like fun. Put your money toward that instead of paying dues to the union,” Delta’s flyer read.

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Some have jumped to criticize Delta’s campaign against unionization, with U.S. Sen. Sherrod Brown, D-Ohio, calling it “condescending bulls---“ and noted that a gaming console won’t provide “fair wages” or “health care benefits.”

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2019-05-10 09:10:45Z
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More U.S.-China trade talks, Uber's IPO, Durant's injury: 5 things you need to know Friday - USA TODAY

Editors USA TODAY

Published 5:04 AM EDT May 10, 2019

Trump allows new tariffs on Chinese goods to move forward as negotiations continue

President Donald Trump's administration allowed U.S. tariffs on $200 billion in Chinese goods to more than double, even as officials said high-stakes negotiations intended to broker a new agreement would continue Friday morning. The White House left open the possibility of agreeing to a deal to roll back what would be the largest escalation to date in a months-long trade war with Beijing. But because U.S. and Chinese negotiators failed to reach an agreement late Thursday ahead of the president's self-imposed midnight deadline, tariffs jumped to 25% from 10% on a range of Chinese goods, including office furniture, handbags and frozen catfish fillets. Beijing said it would retaliate. Investors are closely following the meetings and may react similarly Friday as they did Thursday when Trump threatened to enact the tariffs. Markets dropped Thursday over fears new U.S. tariffs and Chinese retaliatory tariffs will raise prices for consumers and slow the global economy. 

Suspects in Colorado STEM school shooting to appear in court

The two teens accused of attacking their suburban Denver STEM charter school earlier this week, killing one classmate and injuring eight others, are due in court Friday and prosecutors are expected to announce the charges the two will face. Authorities have identified the two suspects as Devon Erickson, 18, and a juvenile identified both as Maya McKinney and Alec McKinney. Appearing in court Wednesday, McKinney’s mother said her child identifies as male and is known as Alec. Court records identify McKinney as Maya. Little is known about the pair or their motivations and booking photos are being withheld to avoid compromising the investigation. Meanwhile, grieving students walked out of an event at the school Wednesday in anger and tears over concerns it inappropriately politicized their grief. The event was primarily billed as a vigil to honor Kendrick Castillo, the teen who was fatally shot in the rampage. But speakers were mostly politicians and advocates pressing Congress for more restrictive gun laws.

IPO day arrives for Uber

Ride-sharing giant Uber is set to make its debut on the New York Stock Exchange on Friday with its highly anticipated initial public offering (IPO). Ride sharing is unquestionably a growth industry: The company said in its filing last month that it makes 14 million trips daily. But rival Lyft – which went public in early April – hasn't found great success on Wall Street so far. And Uber is facing pressure from its drivers, some of whom staged a strike in several major cities Wednesday to call attention to wages and work issues. Even with questions lingering about its ability to turn a profit, Uber has forever altered the way we travel, talk and work.

Warriors will have to beat Rockets without injured star Kevin Durant

With a chance to advance to the Western Conference Finals on Friday night, the Golden State Warriors will be without Kevin Durant for the remainder of their semifinal series against the Houston Rockets, after he suffered a strained calf in Game 5 on Wednesday. The Warriors said he'll be re-evaluated next week. In the past, Durant has needed about a week to recover from similar injuries. Durant has carried the Warriors so far in these playoffs as he has scored no fewer than 21 points in the team's 11 games. Steph Curry and Klay Thompson will need to step up for the Warriors, who are seeking their third consecutive NBA title. 

7,000 shows and counting for 'Wheel of Fortune'

Seven thousand episodes is quite good fortune. Pat Sajak and Vanna White celebrate that milestone on "Wheel of Fortune" Friday, a feat they tell USA TODAY they could never have predicted. "I remember sitting in the chair next to Pat saying, 'I wonder where we’ll be in 10 years?' … And here it’s been 36," says White, now 62. Neither she nor Sajak, 72, plans to retire anytime soon. Sajak says only that he'd like to leave "before people tune in and see me and go, 'Ooh, what the hell happened to him?’" "Wheel" is still averaging nearly 10 million viewers this season, a close second to "Judge Judy" among all syndicated shows.

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2019-05-10 08:06:00Z
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Asia shares mostly gain, Shanghai up 3% after US tariff hike - Yahoo Finance

A Chinese investor uses his smartphone as he monitors stock prices at a brokerage house in Beijing, Friday, May 10, 2019. Asian shares were mostly higher Friday but benchmarks in Shanghai and Hong Kong gave up earlier strong gains amid uncertainty over the potential outcome of trade talks between China and the U.S. (AP Photo/Mark Schiefelbein)

TOKYO (AP) -- Global shares were mostly higher on Friday in volatile trading, with mainland Chinese stocks bouncing more than 3% as regulators apparently stepped in to support the markets.

France's CAC 40 gained 1.0% in early trading to 5,363.43, while Germany's DAX added 1.0% to 12,098.30. Britain's FTSE 100 rose 0.6% to 7,251.13. U.S. shares were set to open lower with Dow futures slipping 0.2% to 25,764.00. The S&P 500 future contract fell 0.3% to 2,863.90.

The Shanghai Composite index surged 3.1% to 2,939.21 while the A-share index in the smaller market of Shenzhen jumped 3.8%. Traders said Chinese institutional investors stepped up buying to support the market.

China's Commerce Ministry said would take unspecified "necessary countermeasures" after the Trump administration raised duties on $200 billion of Chinese imports to 25% from 10%. The action came as trade negotiations were underway in Washington.

Chinese markets initially dipped and then rebounded.

"Part of this miraculous — and very local — recovery may be caused by intervention from the Chinese government. Yet, investors are also still clinging to the hope that the US and China will eventually manage to agree some sort of deal," Rabobank said in a commentary.

Hong Kong's Hang Seng gained 0.8% to 28,550.24, while Japan's Nikkei 225 slipped 0.3% to finish at 21,344.92. Australia's S&P/ASX 200 rose nearly 0.3% to 6,310.90. South Korea's Kospi gained 0.3% to 2,108.04 and India's Sensex edged 0.3% higher to 37,681.09. Shares fell in Taiwan but recovered in Thailand.

Analysts said China could raise tariffs on some U.S. exports, though the amount would not match the costs imposed by the increase in U.S. import duties. It could step up interference in U.S. companies' deal-making and other areas.

The increased tensions, if not resolved soon by a deal between Beijing and Washington, could hurt growth across the region and beyond, said Rajiv Biswas of HIS Markit.

"The escalating U.S.-China trade war adds to significant existing headwinds already facing the Asia-Pacific region from a range of factors, including the sharp slowdown in global electronics new orders and weak new orders in the Eurozone manufacturing," Biswas said.

ENERGY: Benchmark U.S. crude rose 34 cents to $62.04 a barrel in electronic trading on the New York Mercantile Exchange. It dropped 0.7% to settle at $61.70 per barrel overnight. Brent crude, the international standard, added 41 cents to $70.80 a barrel.

CURRENCIES: The dollar inched up to 109.83 Japanese yen from 109.77 yen. The euro strengthened to $1.1233 from $1.1216.

___

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2019-05-10 07:44:00Z
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China shares, yuan rise as investors look past U.S. tariff hike - Reuters

SHANGHAI/HONG KONG (Reuters) - Chinese shares and the yuan strengthened on Friday after the U.S. imposed higher tariffs on imports of $200 billion worth of Chinese goods and China vowed retaliation, as domestic investors looked to continuing Sino-U.S. trade talks for signs of hope.

U.S. President Donald Trump’s tariff increase to 25% on $200 billion worth of Chinese goods took effect on Friday during the midday break for China’s stock market. China’s Commerce Ministry said it “deeply regrets” the U.S. decision, adding that it would take necessary countermeasures, without elaborating.

But after talking for 90 minutes on Thursday in Washington, Chinese Vice Premier Liu He, U.S. Trade Representative Robert Lighthizer and U.S. Treasury Secretary Steven Mnuchin were expected to resume negotiations on Friday.

China’s benchmark Shanghai Composite index and blue-chip CSI300 index dipped briefly into the red as trading resumed for the afternoon, but quickly reversed course.

The Shanghai Composite was last up 2%, and the CSI300 gained 2.4%.

“All the negative news is out there, and uncertainty is eliminated,” said Zhang Yanbin, an analyst at Zheshang Securities. He added that sharp falls in Chinese shares in recent days limited the room for further sharp drops.

Both the Shanghai Composite and the CSI300 had ended at 11-week lows on Thursday.

“The future is bright, as Vice Premier Liu He’s comments in Washington might indicate relatively high chances for reaching an agreement,” said Zhu Junchun, an analyst with Lianxun Securities.

“The recent setback in the talks might be a result of tactics, but would not impact their ultimate direction and result,” he said.

In Hong Kong, the Hang Seng Index was up 0.8% while H-shares added 1%.

The smaller Shenzhen index was up 2.4% and the start-up board ChiNext Composite index was higher by 3%.

“Market sentiment has improved following the progress of the latest round of Sino-U.S. trade talks, leading to a rebound from recent falls,” said Zhou Liang, founder of Shanghai Minority Investment Management. “Although facing an escalating trade war, the market has been much stronger this year than last, reflecting the improved confidence of Chinese investors.”

China’s yuan was 0.3% stronger at 6.8071 per dollar, despite China’s central bank setting the midpoint of the currency’s daily trading band at its weakest level in 3-1/2 months before the market open, at 6.7912 per dollar.

The soft fix came after a tariff war-inspired sell-off in the spot market on Thursday, although traders had expected it to come in even lower.

The offshore yuan strengthened in early trade, but later gave up most of its gains. It was last a touch stronger, trading at 6.8375 per dollar. It had weakened to a low of 6.8636 per dollar on Thursday.

Zhou Hao, senior EM economist at Commerzbank in Singapore said rises in the yuan were largely triggered by changes in the market sentiment.

“Trump is very fickle-minded. And investor sentiment had switched from overly optimistic to overly pessimistic,” he said.

FILE PHOTO: Investors look at screens showing stock information at a brokerage house in Shanghai, China May 6, 2019. REUTERS/Aly Song

Zhou said that investors now felt that “as long as trade negotiations continue it’s a good thing.”

Zhou said he did not think the rebound would be sustainable, and expects the yuan to trade in a range of 6.75 to 6.9 per dollar.

Chinese government bond futures were unmoved, with 10-year treasury futures for June delivery, the most-traded contract, trading up 0.04% at 97.030.

Reporting by Andrew Galbraith and Noah Sin; Additional reporting by Luoyan Liu, Samuel Shen and Winni Zhou; Editing by Sam Holmes & Simon Cameron-Moore

Our Standards:The Thomson Reuters Trust Principles.

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2019-05-10 07:12:01Z
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China shares, yuan rise on hopes for last-minute trade deal - Investing.com

© Reuters. Investors look at screens showing stock information at a brokerage house in Shanghai

By Andrew Galbraith and Noah Sin

SHANGHAI/HONG KONG (Reuters) - Chinese shares and the yuan strengthened on Friday on signs Beijing and Washington might still be able to avert a trade deal collapse, though confidence was fragile less than an hour before a planned U.S. tariff hike on Chinese goods takes effect.

Chinese Vice Premier Liu He, U.S. Trade Representative Robert Lighthizer and U.S. Treasury Secretary Steven Mnuchin talked for 90 minutes on Thursday in Washington, and were expected to resume negotiations on Friday.

Higher tariffs on Chinese goods are set to take effect at 0401 GMT Friday. While Asian markets were higher, investor confidence is expected to remain fickle and driven by news headlines.

"Market sentiment has improved following the progress of the latest round of Sino-U.S. trade talks, leading to a rebound from recent falls," said Zhou Liang, founder of Shanghai Minority Investment Management. "Although facing an escalating trade war, the market has been much stronger this year than last, reflecting the improved confidence of Chinese investors."

In late morning trade, the benchmark index was up 1.3 percent, having ended at an 11-week closing low in the previous session. But that was down from earlier highs that saw the index rise as much as 2.6 percent.

China's blue-chip CSI300 index was up 1.5 percent, having earlier risen more than 3 percent.

In Hong Kong, the was up 0.5 percent while H-shares added 0.6 percent.

The smaller Shenzhen index was up 1.8 percent and the start-up board ChiNext Composite index was higher by 2.1 percent.

China's yuan was up 0.1 percent at 6.8191 per dollar, despite China's central bank setting the midpoint of the currency's daily trading band at its weakest level in 3-1/2 months before the market open, at 6.7912 per dollar.

"The market is not in as much fear anymore. The scale of the rally depends on whether the tariff increases will still go ahead at noon, whether two sides agree to carry on talking, and whether the U.S. president will meet with Liu He," said a Shanghai-based trader at Chinese bank, commenting on the yuan.

The soft fix came after a tariff war-inspired sell-off in the spot market on Thursday, although traders had expected it to come in even lower.

The strengthened in early trade, but by late morning had given up all its gains to trade at 6.8430 per dollar. It had weakened to a low of 6.8363 per dollar on Thursday.

Zhou Hao, senior EM economist at Commerzbank (DE:) in Singapore said rises in the yuan were largely triggered by changes in the market sentiment.

"Trump is very fickle-minded. And investor sentiment had switched from overly optimistic to overly pessimistic," he said."Without these twists and turns, a tariff hike would be negative for the market, but now investors think that even if there are higher tariffs, as long as trade negotiations continue it's a good thing," he added.

Zhou said he did not think the rebound would be sustainable, and expects the yuan to trade in a range of 6.75 to 6.9 per dollar.

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2019-05-10 04:05:00Z
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Facebook’s co-founder: ‘It’s time to break up Facebook’ - The Washington Post

May 9 at 10:06 AM

Chris Hughes, a co-founder of Facebook, is calling for the breakup of the social media juggernaut, citing the threat of the platform’s unchecked power and that of founder Mark Zuckerberg.

In an op-ed published Thursday in the New York Times, Chris Hughes, who helped form Facebook in a Harvard dorm, joined the growing chorus of lawmakers and advocates demanding the U.S. government rein in Facebook. Despite its myriad scandals — Russian propagandists exploiting the platform to spread misinformation and sway U.S. elections, the sharing of millions of users’ personal data with the political data firm Cambridge Analytica and companies like Amazon, Microsoft and Netflix — Facebook’s reach continues to grow.

“For too long, lawmakers have marveled at Facebook’s explosive growth and overlooked their responsibility to ensure Americans are protected and markets are competitive,” Hughes wrote. “It is time to break up Facebook.”

Hughes’s calls come as Facebook faces yet another controversy after an AP investigation revealed that the platform automatically generates videos and pages that elevate extremist groups.

[A content moderator says she got PTSD while reviewing images posted on Facebook]

The op-ed painted a stark portrait of Facebook’s dominance: The company is worth half a trillion dollars and its products are regularly used by billions of people. By Hughes’s estimates, Facebook commands “more than 80 percent of the world’s social networking revenue.”

Another major social networking platform hasn’t been founded since 2011, and despite the movements like #deleteFacebook, it’s almost impossible to avoid, with many people eschewing the core platform in favor of Instagram or WhatsApp, not realizing they are Facebook subsidiaries. The apparent avalanche of disasters hasn’t dented Facebook’s finances; its earnings per share increased 40 percent last year, despite a torrent of public failures.

[Inside Facebook, the second-class workers who do the hardest job are waging a quiet battle]

“Because Facebook so dominates social networking, it faces no market-based accountability,” Hughes wrote. “This means that every time Facebook messes up, we repeat an exhausting pattern: first outrage, then disappointment, and finally, resignation.”

No aspect of Facebook is more troubling than Zuckerberg’s total authority, Hughes wrote, calling it “unprecedented and un-American.” Zuckerberg controls 60 percent of the company’s voting shares and has ultimate oversight over Facebook’s algorithms, its privacy settings and community guidelines. He has the money and power to copy, buy, or squash his competitors. While Hughes defended Zuckerberg as a “good, kind person,” he cast him as a man hellbent on domination, even when it imperils the American public and democracy.

"I’m angry that his focus on growth led him to sacrifice security and civility for clicks,” Hughes wrote.

[Mark Zuckerberg: The Internet needs new rules. Let's start in these four areas.]

Hughes wants the government to correct the FTC’s “biggest mistake” by forcing Instagram and WhatsApp to split from Facebook and become competitors once again. Hughes also wants the government to create an agency to monitor tech companies to ensure healthy regulation. Zuckerberg himself has called for regulation in a March op-ed published in The Post.

“Lawmakers often tell me we have too much power over speech, and frankly I agree,” Zuckerberg wrote, also citing privacy, data protection and election integrity as other areas in need of government oversight. Hughes argues Zuckerberg is only interested in regulation that is “friendly” to Facebook’s interests.

Legislators on both sides of the aisle have made a case for federal intervention with Facebook. Sen. Elizabeth Warren (D-Mass.) has made the breakup of American tech giants a pillar of her presidential campaign.

“Today’s big tech companies have too much power — over our economy, our society & our democracy,” Warren said in a tweet Thursday. “They’ve bulldozed competition, used our private info for profit, hurt small businesses & stifled innovation.”

Chris Hughes is right. Today’s big tech companies have too much power—over our economy, our society, & our democracy. They’ve bulldozed competition, used our private info for profit, hurt small businesses & stifled innovation. It's time to #BreakUpBigTech. https://t.co/rZMftEwlkN

— Elizabeth Warren (@ewarren) May 9, 2019

Sen. Ted Cruz (R-Texas) has said he’d hit tech companies with antitrust violations or fraud charges, arguing they unfairly censor right-leaning speech. This week, two top senators urged the FTC to go beyond its expected $5 billion fine against Facebook for its privacy practices, calling for tough punishments and accountability measures.

“The public is rightly asking whether Facebook is too big to be held accountable,” Sen. Richard Blumenthal (D-Conn.) and Sen. Josh Hawley (R-Mo.) wrote in a letter to FTC Chairman Joseph Simons. “The FTC must set a resounding precedent that is heard by Facebook and any other tech company that disregards the law in a rapacious quest for growth.”

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2019-05-09 14:33:57Z
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Chevron Bows Out Of Anadarko Fight, Oxy Jet Trip Suggests Shell Might Step Up - OilPrice.com

A report that Occidental Petroleum’s corporate jet traveled to the Hague, one of Shell’s two home towns, has sparked a fresh flare-up of speculation regarding its proposed acquisition of Anadarko, CNBC reports, citing an unnamed source.

The news comes after reports on Thursday suggest that Chevron is bowing out of the fight to acquire Anadarko, despite some analysts thinking that it would up its offer to compete with Occidental’s. Chevron will be entitled to a $1 billion breakup fee per the terms of the original agreement.

Bloomberg sources had originally reported today that Anadarko was looking for Chevron to increase its bid so that it was competitive with Occidental’s bid.

Occidental has been under the watchful eye of the media since its bid for Anadarko. Earlier this week, an earlier trip by Oxy’s corporate jet was reported by Bloomberg after sightings of Oxy’s Gulfstream V in Omaha, giving rise to rumors about a possible involvement of Warren Buffett in the deal, which later got their confirmation when Buffett said he was willing to bankroll the Anadarko acquisition if Occidental managed to get a final yes from the target company.

The Sage from Omaha has committed US$10 billion to the deal, which is worth a total US$38 billion which has evidently been tracking the movements of the aircraft amid the bidding war between Oxy and Chevron, which last month offered to buy Anadarko for US$33 billion.

Yet another Gulfstream V trip earlier this month, according to Bloomberg, had Occidental flying to Paris as well, where Total is headquartered.

Related: Oil Production Booms… But Funding Is Drying Up

And now it looks like Shell is in the running as well, although in what capacity is not yet known.  Shell and Anadarko, CNBC recalls, have shared assets in the Permian, where Occidental is the top player and Anadarko is among the largest competitors. The acquisition of the latter would establish Occidental as an undisputed leader in a space that supermajors have been eager to tap as well, with all but one expanding their assets there and planning ambitious drilling campaigns.

The lone exception is Total, which has no shale acreage at all in the United States, which would make the Oxy jet’s trip to Paris all the more intriguing if, of course, it was made with the intention of meeting with Total at all.

By Irina Slav for Oilprice.com

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2019-05-09 14:30:00Z
CBMihAFodHRwczovL29pbHByaWNlLmNvbS9MYXRlc3QtRW5lcmd5LU5ld3MvV29ybGQtTmV3cy9DaGV2cm9uLUJvd3MtT3V0LU9mLUFuYWRhcmtvLUZpZ2h0LU94eS1KZXQtVHJpcC1TdWdnZXN0cy1TaGVsbC1NaWdodC1TdGVwLVVwLmh0bWzSAQA