April 2, 2018.
Trump suggested White House as potential venue for possible Putin meeting, White House says
Brooke Singman By Brooke Singman | Fox News
Kremlin says President Trump invited Putin to White House
President Trump has reportedly invited Vladimir Putin to the White House for a visit, according to a statement from the Kremlin. Rich Edson reports from the State Department.
The White House said Monday that President Trump discussed a possible meeting with Russian President Vladimir Putin in the near future, suggesting the White House as a “potential venue” for the summit.
White House Press Secretary Sarah Sanders released a statement on Monday in response to reports from the Kremlin that Trump had invited Putin to a meeting at the White House, but had yet to begin any preparations for the potential visit.
“As the President himself confirmed on March 20, hours after his last call with President Putin, the two had discussed a bilateral meeting in the ‘not-too-distant future’ at a number of potential venues, including the White House,” Sanders said Monday. “We have nothing further to add at this time.”
If a Trump-Putin meeting does take place at the White House, it will mark the first time the Russian president visited 1600 Pennsylvania Avenue since the George W. Bush administration. Putin visited the White House in both November 2001 and September 2005. At the time, former President George W. Bush said, “this is a new day in the long history of Russian-American relations, a day of progress and a day of hope.”
President George W. Bush (R) makes a point as he talks with Russian President Vladimir Putin in the Oval Office of the White House November 13, 2001. [Their meeting kicks off a three-day summit which will focus on reducing nuclear arsenals and U.S. plans to build a missile shield which would overturn provisions of a 1972 arms pact. The two will also discuss the situation in Afghanistan as Taliban forces flee the city of Kabul. ] - PBEAHUKWLDP
Russian President Vladimir Putin, left, and former President George W. Bush, right, met at the White House in September 2005 and November 2001. This photo shows a meeting in the Oval Office in November 2001. (Reuters)
The telephone conversation between Trump and Putin took place on March 20. Trump congratulated Putin on winning the Russian presidential election two days earlier, despite warnings from his National Security Council suggesting he “not congratulate” Putin.
“I called President Putin of Russia to congratulate him on his election victory (in past, Obama called him also.) The Fake News Media is crazed because they wanted me to excoriate him. They are wrong! Getting along with Russia (and others) is a good thing, not a bad thing….” Trump tweeted a day after his phone call.
“They can help solve problems with North Korea, Syria, Ukraine, ISIS, Iran and even the coming Arms Race,” Trump tweeted, adding, “Bush tried to get along, but didn’t have the ‘smarts.’ Obama and Clinton tried, but didn’t have the energy of chemistry (remember RESET.) PEACE THROUGH STRENGTH.”
Both the White House and the Kremlin have confirmed that neither government has begun to arrange a potential meeting between the two leaders.
Putin aide Yuri Ushakov told Russian news agencies on Monday that their government did not have time to begin to schedule a meeting before the U.S. joined Britain and more than two dozen allies in sanctioning Russia over the poisoning of a Russian ex-spy in England.
Fox News' Rich Edson, John Roberts and The Associated Press contributed to this report.
Tuesday, April 3, 2018
German prosecutors file for extradition of ex-Catalan leader Puigdemont - Reuters
APRIL 3, 2018 / 6:41 PM / UPDATED 44 MINUTES AGO
German prosecutors file for extradition of ex-Catalan leader Puigdemont
Reuters Staff
BERLIN (Reuters) - German prosecutors filed a request to a regional court on Tuesday for the extradition of former Catalan president Carles Puigdemont to Spain, where he faces charges of rebellion over the region’s campaign for independence.
Puigdemont has been held in a detention center in the northern German town of Neumuenster for just over a week after he was arrested in Germany on March 25.
Prosecutors in the state of Schleswig-Holstein said Spain’s extradition request was admissible because accusations of rebellion included carrying out an anti-constitutional referendum even though violent clashes could be expected.
“This has a comparable equivalent in German law,” said the prosecutors in a statement.
Prosecutors also asked the Higher Regional Court in Schleswig-Holstein, which will decide on the extradition, to keep Puigdemont in prison during the proceedings because there was a danger he would try to escape.
Puigdemont fled Spain five months ago for Belgium after Spanish Prime Minister Mariano Rajoy dismissed his regional administration and imposed direct rule from Madrid.
The charges he faces over the organizing of an illegal secession referendum could lead to 25 years behind bars.
The German government has insisted Puigdemont’s extradition is a matter for the courts, even though last week his German lawyer Wolfgang Schomburg said he would also be looking to the German government in his attempts to get the ex-Catalan leader freed. The justice minister is entitled to veto any extradition.
Prosecutors also said the Spanish accusation of misuse of public money - for carrying out an unconstitutional referendum - also had an equivalent in German law.
On Monday, Puigdemont appealed against the charge of rebellion in Spain’s Supreme Court, saying he did not commit any acts of violence to justify this. He also appealed against the charge of mis-use of public funds.
It is unclear when the German court will make its decision.
The Spanish court aims to try a total of 25 Catalan leaders for rebellion and other charges. International arrest warrants are active against four other politicians who fled abroad last year, including Carla Ponsati, a former Catalan education minister who is fighting extradition from her home in Scotalnd.
Five separatist leaders are in jail in Spain pending trial. They all deny any wrongdoing.
The Catalans say they will not get a fair trial in Spain and are being prosecuted for their political beliefs. Spain denies this and says their actions violated the Spanish constitution.
Reporting by Madeline Chambers and Hans-Edzard Busemann; Additional reporting by Raquel Castillo in Madrid; Editing by Angus MacSwan
German prosecutors file for extradition of ex-Catalan leader Puigdemont
Reuters Staff
BERLIN (Reuters) - German prosecutors filed a request to a regional court on Tuesday for the extradition of former Catalan president Carles Puigdemont to Spain, where he faces charges of rebellion over the region’s campaign for independence.
Puigdemont has been held in a detention center in the northern German town of Neumuenster for just over a week after he was arrested in Germany on March 25.
Prosecutors in the state of Schleswig-Holstein said Spain’s extradition request was admissible because accusations of rebellion included carrying out an anti-constitutional referendum even though violent clashes could be expected.
“This has a comparable equivalent in German law,” said the prosecutors in a statement.
Prosecutors also asked the Higher Regional Court in Schleswig-Holstein, which will decide on the extradition, to keep Puigdemont in prison during the proceedings because there was a danger he would try to escape.
Puigdemont fled Spain five months ago for Belgium after Spanish Prime Minister Mariano Rajoy dismissed his regional administration and imposed direct rule from Madrid.
The charges he faces over the organizing of an illegal secession referendum could lead to 25 years behind bars.
The German government has insisted Puigdemont’s extradition is a matter for the courts, even though last week his German lawyer Wolfgang Schomburg said he would also be looking to the German government in his attempts to get the ex-Catalan leader freed. The justice minister is entitled to veto any extradition.
Prosecutors also said the Spanish accusation of misuse of public money - for carrying out an unconstitutional referendum - also had an equivalent in German law.
On Monday, Puigdemont appealed against the charge of rebellion in Spain’s Supreme Court, saying he did not commit any acts of violence to justify this. He also appealed against the charge of mis-use of public funds.
It is unclear when the German court will make its decision.
The Spanish court aims to try a total of 25 Catalan leaders for rebellion and other charges. International arrest warrants are active against four other politicians who fled abroad last year, including Carla Ponsati, a former Catalan education minister who is fighting extradition from her home in Scotalnd.
Five separatist leaders are in jail in Spain pending trial. They all deny any wrongdoing.
The Catalans say they will not get a fair trial in Spain and are being prosecuted for their political beliefs. Spain denies this and says their actions violated the Spanish constitution.
Reporting by Madeline Chambers and Hans-Edzard Busemann; Additional reporting by Raquel Castillo in Madrid; Editing by Angus MacSwan
Dinosaur footprints dating back 170 million-years discovered on Isle of Skye - Independent
3/4/2018
Dinosaur footprints dating back 170 million-years discovered on Isle of Skye
'This new site records two different types of dinosaurs - long-necked cousins of Brontosaurus and sharp-toothed cousins of Tyrannosaurus rex'
Shehab Khan @shehabkhan
The footprints were made by the 'older cousin' of the Tyrannosaurus rex Jon Hoad/University of Edinburgh/PA
New dinosaur footprints believed to be around 170 million years old have been discovered on the Scottish Island of the Isle of Skye.
Made by the "older cousins" of Tyrannosaurus rex, called theropods, they were found in a muddy lagoon off the north-east coast of the Isle.
The creatures stood up to two-metres tall and are believed to have been a similar size to the long-necked sauropods.
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Underwater volcanoes may have contributed to dinosaur extinction
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"The more we look on the Isle of Skye, the more dinosaur footprints we find," said Dr Steve Brusatte, from the University of Edinburgh's School of GeoSciences, who led the field team which made the discovery.
"This new site records two different types of dinosaurs - long-necked cousins of Brontosaurus and sharp-toothed cousins of Tyrannosaurus rex - hanging around a shallow lagoon, back when Scotland was much warmer and dinosaurs were beginning their march to global dominance."
Peek Inside the $38 Million Home Lenny Kravitz Designed
Lonny
Make waves with a conference in New Zealand.
Tourism New Zealand
Boracay and Phi Phi islands to tell tourists not to come
Nikkei Asian Review
by Taboola Sponsored Links
They are the second set of dinosaur footprints found on Skye, the first being discovered in 2015. However, the latest discoveries were made in older rocks.
The find is considered to be globally important as it is rare evidence of the Middle Jurassic period, from which few fossil sites have been found around the world.
Researchers measured, photographed and analysed about 50 footprints in a tidal area at Rubha nam Brathairean, a dramatic headland on Skye's Trotternish peninsula also known as Brother's Point.
The largest, left by a sauropod, was 70cm across, while the largest theropod track was around 50cm across.
Researchers used drone photographs to make a map of the site, while additional images were collected using a paired set of cameras and tailored software to help model the prints.
"It was found in rocks that were slightly older than those previously found at Duntulm on the island and demonstrates the presence of sauropods in this part of the world through a longer timescale than previously known," said Paige dePolo, another member of the research team.
"This site is a useful building block for us to continue fleshing out a picture of what dinosaurs were like on Skye in the Middle Jurassic."
Press Association contributed to this report
Dinosaur footprints dating back 170 million-years discovered on Isle of Skye
'This new site records two different types of dinosaurs - long-necked cousins of Brontosaurus and sharp-toothed cousins of Tyrannosaurus rex'
Shehab Khan @shehabkhan
The footprints were made by the 'older cousin' of the Tyrannosaurus rex Jon Hoad/University of Edinburgh/PA
New dinosaur footprints believed to be around 170 million years old have been discovered on the Scottish Island of the Isle of Skye.
Made by the "older cousins" of Tyrannosaurus rex, called theropods, they were found in a muddy lagoon off the north-east coast of the Isle.
The creatures stood up to two-metres tall and are believed to have been a similar size to the long-necked sauropods.
Giant T-Rex bursts into flames at dinosaur theme park
Underwater volcanoes may have contributed to dinosaur extinction
'Rainbow' dinosaur had shiny, colourful feathers like a hummingbird
Perfectly preserved 130-million-year-old dinosaur eggs found in China
"The more we look on the Isle of Skye, the more dinosaur footprints we find," said Dr Steve Brusatte, from the University of Edinburgh's School of GeoSciences, who led the field team which made the discovery.
"This new site records two different types of dinosaurs - long-necked cousins of Brontosaurus and sharp-toothed cousins of Tyrannosaurus rex - hanging around a shallow lagoon, back when Scotland was much warmer and dinosaurs were beginning their march to global dominance."
Peek Inside the $38 Million Home Lenny Kravitz Designed
Lonny
Make waves with a conference in New Zealand.
Tourism New Zealand
Boracay and Phi Phi islands to tell tourists not to come
Nikkei Asian Review
by Taboola Sponsored Links
They are the second set of dinosaur footprints found on Skye, the first being discovered in 2015. However, the latest discoveries were made in older rocks.
The find is considered to be globally important as it is rare evidence of the Middle Jurassic period, from which few fossil sites have been found around the world.
Researchers measured, photographed and analysed about 50 footprints in a tidal area at Rubha nam Brathairean, a dramatic headland on Skye's Trotternish peninsula also known as Brother's Point.
The largest, left by a sauropod, was 70cm across, while the largest theropod track was around 50cm across.
Researchers used drone photographs to make a map of the site, while additional images were collected using a paired set of cameras and tailored software to help model the prints.
"It was found in rocks that were slightly older than those previously found at Duntulm on the island and demonstrates the presence of sauropods in this part of the world through a longer timescale than previously known," said Paige dePolo, another member of the research team.
"This site is a useful building block for us to continue fleshing out a picture of what dinosaurs were like on Skye in the Middle Jurassic."
Press Association contributed to this report
Stormy Daniels case should be settled privately, according to Trump's lawyers - Independent ( source : New York Times )
2/4/2018
Stormy Daniels case should be settled privately, according to Trump's lawyers
The actress was previously paid $130,000 to keep quiet about alleged affair with president
Maggie Astor, Jim Rutenberg
President Donald Trump and a company affiliated with him filed court papers Monday seeking to force the pornographic film actress Stephanie Clifford to raise her disputes through private arbitration, not lawsuits.
Clifford, whose stage name is Stormy Daniels, was paid $130,000 to keep quiet about her claims of an affair with Trump. She sued last month to get out of the nondisclosure agreement she signed in October 2016, alleging that it was void because Trump had never signed it. That raised the prospect of further embarrassing revelations for a president who has already been rocked by Clifford’s public statements.
In a motion filed Monday, Essential Consultants — a shell company established by Trump’s lawyer Michael Cohen to pay Clifford — asked the US District Court for the Central District of California to compel Clifford “to arbitrate any and all disputes arising” from the confidentiality agreement she signed. In a separate document filed on the same day, Trump formally joined the motion.
Arbitration would be beneficial to Trump because it is a private process in which a third party resolves a legal dispute after all parties agree to be bound by the decision. A lawsuit, by contrast, could create a public spectacle, bringing embarrassing information to light through the discovery process and trial.
I know what Stormy Daniels is going through. I went through it, too
Trump may be forced to testify under oath about Stormy Daniels
Donald Trump denies affair with porn star Stormy Daniels
Porn star reveals explosive details about affair with Donald Trump
Michael J Avenatti, a lawyer for Clifford, said Monday that they would “vigorously oppose the motion by Mr Trump and Mr Cohen to have this case decided in a secret arbitration, in a private conference room, purposely hidden from the American public.”
“This is a democracy, and this matter should be decided in an open court of law owned by the people,” Avenatti said.
Trump and his lawyers have been trying vigorously to avoid further public statements by Clifford, particularly since she said in February that she believed that Cohen had violated the agreement and that she, as a result, was no longer bound by it. Cohen secretly obtained a restraining order late that month to prevent her from speaking.
Stormy Daniels claims she was threatened to 'leave Trump alone'
And last month, Trump’s legal team filed a motion asking to move the case from state court to federal court, which may have been motivated by a desire to keep the case in arbitration: The Federal Arbitration Act favors arbitration in certain types of disputes, and federal courts have generally applied that law more strictly than state courts.
Also on Monday, America Media Inc. answered a lawsuit from the former Playboy model Karen McDougal, who also claims to have had an affair with Trump. McDougal alleged in her lawsuit that the company, which publishes The National Enquirer, misled her when it made a $150,000 deal to squelch her story, buying the exclusive rights to it during the campaign but never publishing anything.
American Media asked the Los Angeles Superior Court to throw McDougal’s lawsuit out based on an “anti-SLAPP” statute, which many states have enacted to halt frivolous lawsuits devised to “chill the valid exercise of the constitutional right of free speech and petition.” In effect, the company’s lawyers are arguing that McDougal is challenging its “constitutional and contractual right to exercise its editorial discretion not to publish.”
The company said in a statement Monday that it hoped McDougal would stay on as “a valued contributor” and that it still sought “an amicable resolution” with her.
A lawyer for McDougal, Peter K. Stris, wrote on Twitter, “The tabloid went to great lengths to silence her and others, and they are now attempting to silence her again with the absurd claim that their own free speech was violated.”
McDougal’s lawsuit alleges that American Media engaged her in the agreement in order to influence the 2016 election. The watchdog group Common Cause has filed complaints with the Justice Department and the Federal Election Commission charging that the $150,000 payment — which also bought the rights to columns, blog posts and cover shoots with McDougal — was an illegal, in-kind contribution to Trump’s campaign.
New York Times
Stormy Daniels case should be settled privately, according to Trump's lawyers
The actress was previously paid $130,000 to keep quiet about alleged affair with president
Maggie Astor, Jim Rutenberg
President Donald Trump and a company affiliated with him filed court papers Monday seeking to force the pornographic film actress Stephanie Clifford to raise her disputes through private arbitration, not lawsuits.
Clifford, whose stage name is Stormy Daniels, was paid $130,000 to keep quiet about her claims of an affair with Trump. She sued last month to get out of the nondisclosure agreement she signed in October 2016, alleging that it was void because Trump had never signed it. That raised the prospect of further embarrassing revelations for a president who has already been rocked by Clifford’s public statements.
In a motion filed Monday, Essential Consultants — a shell company established by Trump’s lawyer Michael Cohen to pay Clifford — asked the US District Court for the Central District of California to compel Clifford “to arbitrate any and all disputes arising” from the confidentiality agreement she signed. In a separate document filed on the same day, Trump formally joined the motion.
Arbitration would be beneficial to Trump because it is a private process in which a third party resolves a legal dispute after all parties agree to be bound by the decision. A lawsuit, by contrast, could create a public spectacle, bringing embarrassing information to light through the discovery process and trial.
I know what Stormy Daniels is going through. I went through it, too
Trump may be forced to testify under oath about Stormy Daniels
Donald Trump denies affair with porn star Stormy Daniels
Porn star reveals explosive details about affair with Donald Trump
Michael J Avenatti, a lawyer for Clifford, said Monday that they would “vigorously oppose the motion by Mr Trump and Mr Cohen to have this case decided in a secret arbitration, in a private conference room, purposely hidden from the American public.”
“This is a democracy, and this matter should be decided in an open court of law owned by the people,” Avenatti said.
Trump and his lawyers have been trying vigorously to avoid further public statements by Clifford, particularly since she said in February that she believed that Cohen had violated the agreement and that she, as a result, was no longer bound by it. Cohen secretly obtained a restraining order late that month to prevent her from speaking.
Stormy Daniels claims she was threatened to 'leave Trump alone'
And last month, Trump’s legal team filed a motion asking to move the case from state court to federal court, which may have been motivated by a desire to keep the case in arbitration: The Federal Arbitration Act favors arbitration in certain types of disputes, and federal courts have generally applied that law more strictly than state courts.
Also on Monday, America Media Inc. answered a lawsuit from the former Playboy model Karen McDougal, who also claims to have had an affair with Trump. McDougal alleged in her lawsuit that the company, which publishes The National Enquirer, misled her when it made a $150,000 deal to squelch her story, buying the exclusive rights to it during the campaign but never publishing anything.
American Media asked the Los Angeles Superior Court to throw McDougal’s lawsuit out based on an “anti-SLAPP” statute, which many states have enacted to halt frivolous lawsuits devised to “chill the valid exercise of the constitutional right of free speech and petition.” In effect, the company’s lawyers are arguing that McDougal is challenging its “constitutional and contractual right to exercise its editorial discretion not to publish.”
The company said in a statement Monday that it hoped McDougal would stay on as “a valued contributor” and that it still sought “an amicable resolution” with her.
A lawyer for McDougal, Peter K. Stris, wrote on Twitter, “The tabloid went to great lengths to silence her and others, and they are now attempting to silence her again with the absurd claim that their own free speech was violated.”
McDougal’s lawsuit alleges that American Media engaged her in the agreement in order to influence the 2016 election. The watchdog group Common Cause has filed complaints with the Justice Department and the Federal Election Commission charging that the $150,000 payment — which also bought the rights to columns, blog posts and cover shoots with McDougal — was an illegal, in-kind contribution to Trump’s campaign.
New York Times
5 things to know Before the Bell - CNN Money
5 things to know Before the Bell
Pain on Wall Street; Spotify goes public; Fox and Sky
by Ivana Kottasová @ivanakottasova
April 3, 2018: 5:05 AM ET
premarket tuesday
1. Painful start to the quarter: US markets are off to a disastrous start in the second quarter amid concerns over trade and President Donald Trump's attacks on Amazon.
The Dow Jones industrial average shed 1.9% on Monday. The S&P 500 dropped 2.2% and the Nasdaq plunged 2.7%.
Investors are worried about the possibility of a trade war between the United States and China, and they were unsettled by Beijing's announcement of new tariffs on US goods.
Meanwhile, tweets from Trump hit tech stocks. The president accused Amazon of taking advantage of the US Postal Service, causing the online retailer's stock to drop 5%.
Tesla (TSLA), Netflix (NFLX) and Cisco (CSCO) all dropped by at least 4%.
The VIX volatility index jumped more than 15% on Monday and CNNMoney's Fear & Greed Index dropped further into "extreme fear" territory.
2. Global market overview: US stock futures were pointing higher on Tuesday.
inRead invented by Teads
Major indexes in Asia fell more than 1% on Tuesday morning before recovering much of their losses later in the day. European stock markets dipped, with some major indexes down by 1% to 2% as trading resumed after the holiday.
3. Spotify IPO: Spotify (SPOT) is expected to go public on Tuesday in an unusual IPO process that has analysts effectively throwing up their hands about what to expect.
Unlike traditional IPOs, Spotify will not raise new capital. Instead it will simply list existing shares directly on the New York Stock Exchange without relying on underwriters to help assess demand and set a price.
It will trade under the ticker SPOT.
Before the Bell newsletter: Key market news. In your inbox. Subscribe now!
4. Fox ups its Sky guarantees: Rupert Murdoch's 21st Century Fox is making a new pitch to win approval for its planned takeover of British broadcaster Sky.
The UK Competitions and Markets Authority published two new proposals from 21st Century Fox on Tuesday that are designed to address the regulator's concerns that the purchase would give the Murdoch family too much control over UK media.
The first proposal would see 21st Century Fox selling Sky (SKYAY) news business to Disney (DIS).
According to 21st Century Fox (FOXA), Disney wants to get its hands on Sky News whether or not its planned $52 billion purchase of a big chunk of 21st Century Fox is successful.
Under the second proposal, Sky News would be legally separated from the rest of Sky in a bid to ensure its editorial independence.
5. Earnings and economics: Dave & Buster's (PLAY) will release its earnings after the US close.
Auto sales data will be published by the Commerce Department at 2 p.m. ET.
Markets Now newsletter: Get a global markets snapshot in your inbox every afternoon. Sign up now!
6. Coming this week:
Tuesday — Spotify IPO expected
Wednesday — ADP National Employment Report
Thursday — February trade deficit report
Friday — Jobs report
CNNMoney (London)
First published April 3, 2018: 5:05 AM ET
Pain on Wall Street; Spotify goes public; Fox and Sky
by Ivana Kottasová @ivanakottasova
April 3, 2018: 5:05 AM ET
premarket tuesday
1. Painful start to the quarter: US markets are off to a disastrous start in the second quarter amid concerns over trade and President Donald Trump's attacks on Amazon.
The Dow Jones industrial average shed 1.9% on Monday. The S&P 500 dropped 2.2% and the Nasdaq plunged 2.7%.
Investors are worried about the possibility of a trade war between the United States and China, and they were unsettled by Beijing's announcement of new tariffs on US goods.
Meanwhile, tweets from Trump hit tech stocks. The president accused Amazon of taking advantage of the US Postal Service, causing the online retailer's stock to drop 5%.
Tesla (TSLA), Netflix (NFLX) and Cisco (CSCO) all dropped by at least 4%.
The VIX volatility index jumped more than 15% on Monday and CNNMoney's Fear & Greed Index dropped further into "extreme fear" territory.
2. Global market overview: US stock futures were pointing higher on Tuesday.
inRead invented by Teads
Major indexes in Asia fell more than 1% on Tuesday morning before recovering much of their losses later in the day. European stock markets dipped, with some major indexes down by 1% to 2% as trading resumed after the holiday.
3. Spotify IPO: Spotify (SPOT) is expected to go public on Tuesday in an unusual IPO process that has analysts effectively throwing up their hands about what to expect.
Unlike traditional IPOs, Spotify will not raise new capital. Instead it will simply list existing shares directly on the New York Stock Exchange without relying on underwriters to help assess demand and set a price.
It will trade under the ticker SPOT.
Before the Bell newsletter: Key market news. In your inbox. Subscribe now!
4. Fox ups its Sky guarantees: Rupert Murdoch's 21st Century Fox is making a new pitch to win approval for its planned takeover of British broadcaster Sky.
The UK Competitions and Markets Authority published two new proposals from 21st Century Fox on Tuesday that are designed to address the regulator's concerns that the purchase would give the Murdoch family too much control over UK media.
The first proposal would see 21st Century Fox selling Sky (SKYAY) news business to Disney (DIS).
According to 21st Century Fox (FOXA), Disney wants to get its hands on Sky News whether or not its planned $52 billion purchase of a big chunk of 21st Century Fox is successful.
Under the second proposal, Sky News would be legally separated from the rest of Sky in a bid to ensure its editorial independence.
5. Earnings and economics: Dave & Buster's (PLAY) will release its earnings after the US close.
Auto sales data will be published by the Commerce Department at 2 p.m. ET.
Markets Now newsletter: Get a global markets snapshot in your inbox every afternoon. Sign up now!
6. Coming this week:
Tuesday — Spotify IPO expected
Wednesday — ADP National Employment Report
Thursday — February trade deficit report
Friday — Jobs report
CNNMoney (London)
First published April 3, 2018: 5:05 AM ET
Credit Suisse Equities Trading Chief Plots Return to World Top 5 - Bloomberg
Credit Suisse Equities Trading Chief Plots Return to World Top 5
By
April 3, 2018, 6:09 PM GMT+10
UBS veteran Mike Stewart says management revamp is complete
Focus on hedge fund business, derivatives, trading systems
While wealth management may be the business Credit Suisse Group AG favors growing these days, the Wall Street veteran who took over the bank’s equity trading unit has no intention of taking a back seat.
“We have more than sufficient resources to be a top-five equities player,” equities chief Mike Stewart said in his first interview since taking the job in June. “Right now, the business really is in execution mode. I’ve got my key people in every seat.”
Stewart took up his job in the midst of some rocky years for the trading business. The group lost almost one-third of its market share from 2015 to 2017 after a push into Asia backfired, a team wagering on algorithms caused revenue to plunge and a new unit set up for the most complex products frustrated traders. The bank was the seventh-biggest globally by revenue among equity-trading houses, as of 2017.
Since joining from cross-town rival UBS Group AG, Stewart has hired at least 18 senior investment bankers at the unit, which caters to institutional investors, hedge funds and insurance companies. Key hires at the unit include Mike Di Iorio, Roger Anerella, David Bleustein, Stuart McGuire, Gerry Milligan and Scott Miller.
Stewart said he wants to reboot the bank’s business with hedge funds as he improves electronic trading systems and strengthens flows into Credit Suisse’s private-banking empire. In 2011, the trading unit held the No. 3 spot globally, according to data compiled by Bloomberg.
Pick and Choose
While the sudden return of volatility has prompted many banks to rediscover their passion for trading, Stewart said sorting the good performers from the bad is becoming more important.
“There has been a huge dispersion” in the performance of hedge funds, he said. “Anyone prudently running an equities business has got to be focused on the clients that are surviving and thriving in a challenging market. Hedge funds are critical and a high percentage of our business."
While Stewart will continue hiring for areas including derivatives -- a business that’s in demand as investors hunt for yield -- he says the trading business is finished with its overall revamp and the key executives are in place. Stewart said he doesn’t intend to exit any product lines and that while the unit has been trimming some positions, there a no larger headcount reductions planned for 2018.
Prime Services
Stewart’s responsibilities include the prime services operations, which Thiam shrank after taking the helm of the bank in 2015. The business of settling trades and lending to hedge funds has come under pressure due to stricter capital rules.
“We want to refocus and lean into prime brokerage, which has been a historical strength," Stewart said. “However, we did feel it was over-resourced from a personnel standpoint."
Brokerage Cuts
The bank has made some cuts to its brokerage business in recent weeks, with Stewart saying they were small compared to number of new hires. Among people who left were Michael Wingertzahn, Gardy Berthoumiex and Indrajit Bardhan, according to a person familiar with the matter. They couldn’t be reached for comment and Credit Suisse declined to comment. In total, a few dozen employees have left the trading unit recently, two people familiar with the matter said without being more specific.
Equity hedge funds declined in February but returned 1.4 percent so far this year, according to Hedge Fund Research data from early March. In 2017, equity-focused funds had their best start to the year since 2013 as long-and-short equity managers benefited from surging markets in Europe, the U.S. and emerging markets.
Stewart may need some time to prove that his measures are bearing fruit. Equities revenues slumped 27 percent in the fourth quarter and 19 percent for the year in the bank’s Global Markets division, excluding Asia.
Credit Suisse sounded bullish about its trading business at the start of the year. However Thiam was more cautious March, saying business in the quarter was very "confused" and that profitability won’t return to the levels seen in the first months of 2018.
“Obviously volatility brings opportunity and over time we will monetize it,” Stewart said.
By
April 3, 2018, 6:09 PM GMT+10
UBS veteran Mike Stewart says management revamp is complete
Focus on hedge fund business, derivatives, trading systems
While wealth management may be the business Credit Suisse Group AG favors growing these days, the Wall Street veteran who took over the bank’s equity trading unit has no intention of taking a back seat.
“We have more than sufficient resources to be a top-five equities player,” equities chief Mike Stewart said in his first interview since taking the job in June. “Right now, the business really is in execution mode. I’ve got my key people in every seat.”
Stewart took up his job in the midst of some rocky years for the trading business. The group lost almost one-third of its market share from 2015 to 2017 after a push into Asia backfired, a team wagering on algorithms caused revenue to plunge and a new unit set up for the most complex products frustrated traders. The bank was the seventh-biggest globally by revenue among equity-trading houses, as of 2017.
Since joining from cross-town rival UBS Group AG, Stewart has hired at least 18 senior investment bankers at the unit, which caters to institutional investors, hedge funds and insurance companies. Key hires at the unit include Mike Di Iorio, Roger Anerella, David Bleustein, Stuart McGuire, Gerry Milligan and Scott Miller.
Stewart said he wants to reboot the bank’s business with hedge funds as he improves electronic trading systems and strengthens flows into Credit Suisse’s private-banking empire. In 2011, the trading unit held the No. 3 spot globally, according to data compiled by Bloomberg.
Pick and Choose
While the sudden return of volatility has prompted many banks to rediscover their passion for trading, Stewart said sorting the good performers from the bad is becoming more important.
“There has been a huge dispersion” in the performance of hedge funds, he said. “Anyone prudently running an equities business has got to be focused on the clients that are surviving and thriving in a challenging market. Hedge funds are critical and a high percentage of our business."
While Stewart will continue hiring for areas including derivatives -- a business that’s in demand as investors hunt for yield -- he says the trading business is finished with its overall revamp and the key executives are in place. Stewart said he doesn’t intend to exit any product lines and that while the unit has been trimming some positions, there a no larger headcount reductions planned for 2018.
Prime Services
Stewart’s responsibilities include the prime services operations, which Thiam shrank after taking the helm of the bank in 2015. The business of settling trades and lending to hedge funds has come under pressure due to stricter capital rules.
“We want to refocus and lean into prime brokerage, which has been a historical strength," Stewart said. “However, we did feel it was over-resourced from a personnel standpoint."
Brokerage Cuts
The bank has made some cuts to its brokerage business in recent weeks, with Stewart saying they were small compared to number of new hires. Among people who left were Michael Wingertzahn, Gardy Berthoumiex and Indrajit Bardhan, according to a person familiar with the matter. They couldn’t be reached for comment and Credit Suisse declined to comment. In total, a few dozen employees have left the trading unit recently, two people familiar with the matter said without being more specific.
Equity hedge funds declined in February but returned 1.4 percent so far this year, according to Hedge Fund Research data from early March. In 2017, equity-focused funds had their best start to the year since 2013 as long-and-short equity managers benefited from surging markets in Europe, the U.S. and emerging markets.
Stewart may need some time to prove that his measures are bearing fruit. Equities revenues slumped 27 percent in the fourth quarter and 19 percent for the year in the bank’s Global Markets division, excluding Asia.
Credit Suisse sounded bullish about its trading business at the start of the year. However Thiam was more cautious March, saying business in the quarter was very "confused" and that profitability won’t return to the levels seen in the first months of 2018.
“Obviously volatility brings opportunity and over time we will monetize it,” Stewart said.
Some stock markets have formed ‘death crosses’ and will likely see a long-term slump, strategist says - CNBC News
Some stock markets have formed ‘death crosses’ and will likely see a long-term slump, strategist says
The U.K. FTSE 100 and the German DAX are both down by around 8 percent year-to date amid a wider slump in global markets.
Some investors have started questioning whether stocks are reaching the end of their bull market.
"The best markets are still in Asia, so it's China, emerging markets and Japan, it's where you should be putting money."
Silvia Amaro | @Silvia_Amaro
Published April 3, 2018
CNBC.com
High probability Europe now in a bear market High probability Europe now in a bear market: ECU Group
3 Hours Ago | 03:20
U.K. and European stocks have broken key through technical levels in recent days and are now likely to be in long-term "bear" markets, according to one strategist.
Robin Griffiths, global macro team chief technical strategist at U.K.-based currency investment firm ECU Group, explained that "death crosses" had been reached — where markets fall below their long-term trend line, which is then itself crossed by its short-term trend line.
"If you've seen a dead cross you've probably seen a bull market and you're now in a bear," he said. "Some (markets) have formed dead crosses and the message from the charts are the U.K. and core Europe have formed dead crosses and there's a very high probability they are now in a bear market."
The U.K. FTSE 100 and the German DAX are both down by around 8 percent year-to date amid a wider slump in global markets. The recent sell-off in technology stocks has compounded the move lower after a market correction earlier this year. Rising interest rates and fears of a global trade war have also sparked concerns that the long run-up in stock markets could end very soon.
Some investors have started questioning whether stocks are reaching the end of their bull market — where prices rise consistently over the long term.
Nonetheless, Griffiths said that not all markets are in immediate danger, adding that there is still at least six to nine months of upside for certain regions.
"The top of the stock market will come before the top of the economy but if that's 18 months away, we've got 6 to 9 months more left in the stock markets that haven't given death cross signals," he said on Tuesday morning.
"The rest of the market, in particular the strongest Asian ones, are having a violent correction … And they are very likely to regain their composure," he said. He added that U.S. and Asian markets are likely to outperform their European counterparts, saying the former should benefit from the White House's plans to cut regulation, reduce taxes and boost infrastructure spending.
"The best markets are still in Asia, so it's China, emerging markets and Japan, it's where you should be putting money and right at the top of the list is commodity-related investments," he said.
Dozens of children feared dead after Afghan air strike on religious school killed 59 including Taliban commanders and pupils - Daily Mail
Dozens of children feared dead after Afghan air strike on religious school killed 59 including Taliban commanders and pupils
Hundreds attended a graduation ceremony at a religious school on Monday
Afghan Air Force helicopters struck the madrassa in Taliban-controlled district
At least 59, including Taliban commanders, were killed, security sources say
On Tuesday, the UN said it was on the ground 'establishing facts' about the strike
By Afp and Reuters and Khaleda Rahman For Mailonline
PUBLISHED: 18:32 AEST, 3 April 2018 | UPDATED: 19:48 AEST, 3 April 2018
Dozens of children are feared dead after an Afghan air strike on a religious school reportedly left at least 59 people dead.
Hundreds of people were attending a graduation ceremony at the madrassa in a Taliban-controlled district in northeastern Afghanistan on Monday when Afghan Air Force helicopters struck, witnesses told AFP.
At least 59 people, including Taliban commanders meeting at the compound in the Dashte Archi district in Kunduz province, were killed in the attack, Afghan security sources said on condition of anonymity.
Most of the civilian victims were children, they said. The wounded were driven more than 50km to hospital for treatment.
On Tuesday, the United Nations said it was investigating 'disturbing reports of serious harm to civilians' in the airstrike.
Dozens of children are feared dead after an Afghan air strike on a religious school reportedly left at least 59 people dead. Pictured, an Afghan child receives treatment after the strike +9
Dozens of children are feared dead after an Afghan air strike on a religious school reportedly left at least 59 people dead. Pictured, an Afghan child receives treatment after the strike
In a brief statement, the United Nations Assistance Mission in Afghanistan said: 'Human Rights team on ground establishing facts. All parties reminded of obligations to protect civilians from impact of armed conflict.'
'I myself counted 35 bodies,' Abdul Khalil told AFP at the hospital in the provincial capital Kunduz where health officials said 57 injured had been taken.
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'I arrived at the scene right after the airstrikes - it was like a butcher's shop. Everywhere was covered with blood, the ground was littered with body parts, heads, limbs and other parts.'
A man called Yousuf, who was at the ceremony when the airstrikes happened, said he saw 'blood and body parts everywhere'.
On Tuesday, villagers in the Afghan province of Kunduz said on Tuesday they had buried dozens of victims of the government air strike.
An Afghan child is seen on a stretcher on his way to hospital after Monday's airstrike in Aghanistan's Kunduz province +9
An Afghan child is seen on a stretcher on his way to hospital after Monday's airstrike in Aghanistan's Kunduz province
The UN says it is investigating claims that civilians were affected by an Afghan air strike on a school in a Taliban-controlled area +9
The UN says it is investigating claims that civilians were affected by an Afghan air strike on a school in a Taliban-controlled area
Sayed Jaan, a resident of the district of Dasht-i Archi, said he attended two mass funerals of almost 40 people, adding that other burials had taken place.
He said the helicopter attack happened during a religious ceremony, called Dastaar Bandi, to mark young men completing the memorization of the Koran, the Muslim holy book.
'There were two mass graves to bury the victims of the bombing and I took part in both burials. In one grave, 16, and in another, 21. Many were young children,' Sayed Jaan said.
'There were other burials and people were digging graves.'
But so far, the defence ministry has denied civilians were among the casualties.
An Afghan resident is treated at a hospital following an airstrike in Kunduz on Sunday +9
An Afghan resident is treated at a hospital following an airstrike in Kunduz on Sunday
An Afghan airstrike on a religious school in a Taliban stronghold on April 2 caused multiple casualties, including civilians, an Afghan security source and witnesses said +9
An Afghan airstrike on a religious school in a Taliban stronghold on April 2 caused multiple casualties, including civilians, an Afghan security source and witnesses said
'Twenty Taliban, including the commander of their Red Unit in the district, and also a key member of the Quetta Shura were killed,' defence ministry spokesman Mohammad Radmanish told AFP on Monday.
The same number were wounded, Radmanish added.
The Red Unit is the insurgent group's elite unit and the Quetta Shura is its leadership council.
A senior Afghan defence ministry official told Reuters the air attack killed at least 35 Taliban and wounded many more.
But he denied reports that civilians were harmed and said two senior Taliban commanders were among those killed.
But provincial government leaders including the governor and police had determined that the strike was against a Taliban meeting but it had also inflicted an undetermined number of civilian casualties, the governor's office said.
An Afghan boy is treated at a hospital following an airstrike in the Char Dara district of Kunduz province +9
An Afghan boy is treated at a hospital following an airstrike in the Char Dara district of Kunduz province
The Taliban said the airstrike hit a religious school during a graduation ceremony, killing dozens of civilians +9
The Taliban said the airstrike hit a religious school during a graduation ceremony, killing dozens of civilians
The Taliban on Monday confirmed the attack on the madrassa, but denied militants had been meeting at the religious school.
According to Reuters, the Taliban said the strike killed 150 religious scholars and civilians and denied that any of their forces had been there.
The madrassa was run by Islamic scholars sympathetic to the Taliban but the facility was open to the public, a senior Taliban commander speaking from an unknown location in Pakistan told AFP on Tuesday.
He said as many as 2,000 people were at the school on Monday, including 750 students, for a graduation ceremony but denied senior Taliban leaders were present.
He estimated that 400 people had been killed and an unknown number wounded. The Taliban are known to exaggerate battlefield claims.
The Taliban said the strike killed 150 religious scholars and civilians and denied that any of their forces had been there. Pictured, a boy receives treatment in hospital +9
The Taliban said the strike killed 150 religious scholars and civilians and denied that any of their forces had been there. Pictured, a boy receives treatment in hospital
On Tuesday, villagers in the Afghan province of Kunduz said on Tuesday they had buried dozens of victims of the government air strike. Pictured, a boy in hospital +9
On Tuesday, villagers in the Afghan province of Kunduz said on Tuesday they had buried dozens of victims of the government air strike. Pictured, a boy in hospital
A video posted online by the Taliban showed at least four bodies of children, wrapped in white shrouds.
Other images circulated of children and adults being treated in hospital for injuries, but they could not be verified.
Several boys with their arms and legs bandaged were seen lying in beds and along the corridors of the hospital.
One of the security sources said the Taliban had started meeting at madrassas in the hope of avoiding airstrikes.
US and Afghan forces are increasing ground and air offensives against Taliban and Islamic State insurgents as they try to get the upper hand in the 16-year war.
The casualties underlined the risk of greater use of air power under a new U.S. strategy announced last year to try to force the militant group to the negotiating table.
The Taliban briefly seized Kunduz city in 2015 and they overran it for a second time the following year.
U.S. air strikes destroyed a Kunduz hospital in 2015 killing 42 people, most of them patients and medical staff.
The city has been considered relatively secure over the past year or two but the Taliban control much of the surrounding area.
Building up the fledgling government air force has been a major priority for the NATO-led Resolute Support training and advisory mission.
Last year, more than 10,000 civilians died or were wounded in the war between Afghanistan's Western-backed government and the militants, down 9 percent from the previous year, UNAMA said in a report in February.
Hundreds attended a graduation ceremony at a religious school on Monday
Afghan Air Force helicopters struck the madrassa in Taliban-controlled district
At least 59, including Taliban commanders, were killed, security sources say
On Tuesday, the UN said it was on the ground 'establishing facts' about the strike
By Afp and Reuters and Khaleda Rahman For Mailonline
PUBLISHED: 18:32 AEST, 3 April 2018 | UPDATED: 19:48 AEST, 3 April 2018
Dozens of children are feared dead after an Afghan air strike on a religious school reportedly left at least 59 people dead.
Hundreds of people were attending a graduation ceremony at the madrassa in a Taliban-controlled district in northeastern Afghanistan on Monday when Afghan Air Force helicopters struck, witnesses told AFP.
At least 59 people, including Taliban commanders meeting at the compound in the Dashte Archi district in Kunduz province, were killed in the attack, Afghan security sources said on condition of anonymity.
Most of the civilian victims were children, they said. The wounded were driven more than 50km to hospital for treatment.
On Tuesday, the United Nations said it was investigating 'disturbing reports of serious harm to civilians' in the airstrike.
Dozens of children are feared dead after an Afghan air strike on a religious school reportedly left at least 59 people dead. Pictured, an Afghan child receives treatment after the strike +9
Dozens of children are feared dead after an Afghan air strike on a religious school reportedly left at least 59 people dead. Pictured, an Afghan child receives treatment after the strike
In a brief statement, the United Nations Assistance Mission in Afghanistan said: 'Human Rights team on ground establishing facts. All parties reminded of obligations to protect civilians from impact of armed conflict.'
'I myself counted 35 bodies,' Abdul Khalil told AFP at the hospital in the provincial capital Kunduz where health officials said 57 injured had been taken.
SAS sniper killed by roadside bomb while embedded with Seal...
ISIS 'to target World Cup players and fans in Russia with...
'I arrived at the scene right after the airstrikes - it was like a butcher's shop. Everywhere was covered with blood, the ground was littered with body parts, heads, limbs and other parts.'
A man called Yousuf, who was at the ceremony when the airstrikes happened, said he saw 'blood and body parts everywhere'.
On Tuesday, villagers in the Afghan province of Kunduz said on Tuesday they had buried dozens of victims of the government air strike.
An Afghan child is seen on a stretcher on his way to hospital after Monday's airstrike in Aghanistan's Kunduz province +9
An Afghan child is seen on a stretcher on his way to hospital after Monday's airstrike in Aghanistan's Kunduz province
The UN says it is investigating claims that civilians were affected by an Afghan air strike on a school in a Taliban-controlled area +9
The UN says it is investigating claims that civilians were affected by an Afghan air strike on a school in a Taliban-controlled area
Sayed Jaan, a resident of the district of Dasht-i Archi, said he attended two mass funerals of almost 40 people, adding that other burials had taken place.
He said the helicopter attack happened during a religious ceremony, called Dastaar Bandi, to mark young men completing the memorization of the Koran, the Muslim holy book.
'There were two mass graves to bury the victims of the bombing and I took part in both burials. In one grave, 16, and in another, 21. Many were young children,' Sayed Jaan said.
'There were other burials and people were digging graves.'
But so far, the defence ministry has denied civilians were among the casualties.
An Afghan resident is treated at a hospital following an airstrike in Kunduz on Sunday +9
An Afghan resident is treated at a hospital following an airstrike in Kunduz on Sunday
An Afghan airstrike on a religious school in a Taliban stronghold on April 2 caused multiple casualties, including civilians, an Afghan security source and witnesses said +9
An Afghan airstrike on a religious school in a Taliban stronghold on April 2 caused multiple casualties, including civilians, an Afghan security source and witnesses said
'Twenty Taliban, including the commander of their Red Unit in the district, and also a key member of the Quetta Shura were killed,' defence ministry spokesman Mohammad Radmanish told AFP on Monday.
The same number were wounded, Radmanish added.
The Red Unit is the insurgent group's elite unit and the Quetta Shura is its leadership council.
A senior Afghan defence ministry official told Reuters the air attack killed at least 35 Taliban and wounded many more.
But he denied reports that civilians were harmed and said two senior Taliban commanders were among those killed.
But provincial government leaders including the governor and police had determined that the strike was against a Taliban meeting but it had also inflicted an undetermined number of civilian casualties, the governor's office said.
An Afghan boy is treated at a hospital following an airstrike in the Char Dara district of Kunduz province +9
An Afghan boy is treated at a hospital following an airstrike in the Char Dara district of Kunduz province
The Taliban said the airstrike hit a religious school during a graduation ceremony, killing dozens of civilians +9
The Taliban said the airstrike hit a religious school during a graduation ceremony, killing dozens of civilians
The Taliban on Monday confirmed the attack on the madrassa, but denied militants had been meeting at the religious school.
According to Reuters, the Taliban said the strike killed 150 religious scholars and civilians and denied that any of their forces had been there.
The madrassa was run by Islamic scholars sympathetic to the Taliban but the facility was open to the public, a senior Taliban commander speaking from an unknown location in Pakistan told AFP on Tuesday.
He said as many as 2,000 people were at the school on Monday, including 750 students, for a graduation ceremony but denied senior Taliban leaders were present.
He estimated that 400 people had been killed and an unknown number wounded. The Taliban are known to exaggerate battlefield claims.
The Taliban said the strike killed 150 religious scholars and civilians and denied that any of their forces had been there. Pictured, a boy receives treatment in hospital +9
The Taliban said the strike killed 150 religious scholars and civilians and denied that any of their forces had been there. Pictured, a boy receives treatment in hospital
On Tuesday, villagers in the Afghan province of Kunduz said on Tuesday they had buried dozens of victims of the government air strike. Pictured, a boy in hospital +9
On Tuesday, villagers in the Afghan province of Kunduz said on Tuesday they had buried dozens of victims of the government air strike. Pictured, a boy in hospital
A video posted online by the Taliban showed at least four bodies of children, wrapped in white shrouds.
Other images circulated of children and adults being treated in hospital for injuries, but they could not be verified.
Several boys with their arms and legs bandaged were seen lying in beds and along the corridors of the hospital.
One of the security sources said the Taliban had started meeting at madrassas in the hope of avoiding airstrikes.
US and Afghan forces are increasing ground and air offensives against Taliban and Islamic State insurgents as they try to get the upper hand in the 16-year war.
The casualties underlined the risk of greater use of air power under a new U.S. strategy announced last year to try to force the militant group to the negotiating table.
The Taliban briefly seized Kunduz city in 2015 and they overran it for a second time the following year.
U.S. air strikes destroyed a Kunduz hospital in 2015 killing 42 people, most of them patients and medical staff.
The city has been considered relatively secure over the past year or two but the Taliban control much of the surrounding area.
Building up the fledgling government air force has been a major priority for the NATO-led Resolute Support training and advisory mission.
Last year, more than 10,000 civilians died or were wounded in the war between Afghanistan's Western-backed government and the militants, down 9 percent from the previous year, UNAMA said in a report in February.
Singapore Court Imposes Hefty Fines for Airbnb Rentals - Bloomberg ( source : Associated Press )
Singapore Court Imposes Hefty Fines for Airbnb Rentals
THE ASSOCIATED PRESS
April 3, 2018, 6:27 PM GMT+10 Updated on April 3, 2018, 7:33 PM GMT+10
Singapore (AP) -- A court in Singapore on Tuesday fined two men 60,000 Singapore dollars ($45,800) each for breaching laws banning short-term rentals by renting out condominium units through online services such as Airbnb, Craigslist and HomeAway.
Terence Tan En Wei and Yao Songlaing had pleaded guilty at the State Court in February to four charges of illegally renting out four units last year, in the first case of its kind in the Southeast Asian island nation.
Defense lawyer Wong Soo Chih said prosecutors had requested a fine of 20,000 Singapore dollars ($15,267) per charge but the judge set it at 15,000 Singapore dollars ($11,450) per charge.
Offering short stays in private homes is illegal in Singapore, where most residents live in subsidized public housing. The minimum rental period had been six months, but has since been reduced to three months. Officials have said the rule minimizes disturbances to neighbors.
Despite these limitations, Airbnb continues to thrive in the city-state, where the platform has over 8,000 active listings. Last year, 350,000 guests stayed in Airbnb apartments in Singapore, according to the company.
Airbnb said in a statement after the sentencing that it will work with Singapore's authorities to allow the fair use of home sharing.
"We believe that an individual should, minimally, be able to share the private residence that they live in; and that no individual should be criminalized for sharing their home," said the statement from Mich Goh, Airbnb's head of public policy for Southeast Asia.
Describing the issue as "complex and multifaceted," the statement said the company looks forward to clarifying the rules through an upcoming public consultation and supports "a framework that allows responsible and sustainable home sharing to thrive to Singapore's immediate and long-term benefit."
THE ASSOCIATED PRESS
April 3, 2018, 6:27 PM GMT+10 Updated on April 3, 2018, 7:33 PM GMT+10
Singapore (AP) -- A court in Singapore on Tuesday fined two men 60,000 Singapore dollars ($45,800) each for breaching laws banning short-term rentals by renting out condominium units through online services such as Airbnb, Craigslist and HomeAway.
Terence Tan En Wei and Yao Songlaing had pleaded guilty at the State Court in February to four charges of illegally renting out four units last year, in the first case of its kind in the Southeast Asian island nation.
Defense lawyer Wong Soo Chih said prosecutors had requested a fine of 20,000 Singapore dollars ($15,267) per charge but the judge set it at 15,000 Singapore dollars ($11,450) per charge.
Offering short stays in private homes is illegal in Singapore, where most residents live in subsidized public housing. The minimum rental period had been six months, but has since been reduced to three months. Officials have said the rule minimizes disturbances to neighbors.
Despite these limitations, Airbnb continues to thrive in the city-state, where the platform has over 8,000 active listings. Last year, 350,000 guests stayed in Airbnb apartments in Singapore, according to the company.
Airbnb said in a statement after the sentencing that it will work with Singapore's authorities to allow the fair use of home sharing.
"We believe that an individual should, minimally, be able to share the private residence that they live in; and that no individual should be criminalized for sharing their home," said the statement from Mich Goh, Airbnb's head of public policy for Southeast Asia.
Describing the issue as "complex and multifaceted," the statement said the company looks forward to clarifying the rules through an upcoming public consultation and supports "a framework that allows responsible and sustainable home sharing to thrive to Singapore's immediate and long-term benefit."
Who really came up with China's 'four new inventions'? - BBC News
3/4/2018
Who really came up with China's 'four new inventions'?
By Pratik Jakhar
BBC Monitoring
Claim: China invented high-speed rail, mobile payment, e-commerce, and bike-sharing.
Reality Check verdict: China did not invent any of these technologies - but it has led the way in their widescale implementation.
This is a claim that has repeatedly come up in Chinese state media since May 2017.
Global Times
✔
@globaltimesnews
China's 'four great new inventions' in modern times http://bit.ly/2BclxRK
5:01 AM - Dec 20, 2017
It was most recently repeated at China's National People's Congress (NPC) by Pony Ma - an NPC delegate who's better known as the chief executive of the Chinese internet giant Tencent. He's also the richest man in China, according to the Hurun Global Rich List.
"We have a new phrase called the 'new four great inventions' in China, including high-speed railway, online shopping, mobile payment and sharing bikes," he told journalists at the NPC.
But these technologies did not originate in China and were first devised decades ago.
Where did the claim come from?
The provenance of the claim appears to be a Beijing Foreign Studies University survey from May 2017, which asked young people from 20 countries to list the technology they "most wanted to bring back" to their country from China.
The respondents' top answers were high-speed rail, mobile payment, bike sharing, and e-commerce.
Since then, Chinese media and officials have drawn on this to promote these technologies as China's "four new great inventions" in modern times.
Why keep making the claim?
The term "four new inventions" harks back to the "four great inventions" of ancient China - papermaking, gunpowder, printing and the compass.
China has been putting strong emphasis on technological advancement as it seeks to become what it calls an "innovation nation" by 2020.
"After years of subordination to the technological supremacy of developed nations in the West, China has come to realise the importance of developing core technologies on its own. Only by doing so can it truly gain independence and win respect from both partners and competitors," the Xinhua news agency says.
Already, China is the second-largest spender on research and development after the US, accounting for 21% of the world's total of nearly $2 trillion in 2015, according to the World Economic Forum.
A 50th anniversary ceremony for the Shinkansen bullet train was held in Tokyo in 2014.
High-speed rail
There is no standardised definition of what constitutes "high-speed rail." The European Union defines "high-speed" as at least 250km/h (155mph) on new tracks, and 200km/h on older tracks.
According to the Worldwide Rail Organisation (UIC), the first high-speed train service began in 1964 - Japan's Shinkansen or bullet train.
There had been significant speed records set before in Europe - in France, a train reached 331 km/h in 1955 - but the Tokyo to Osaka line was the first regular service to travel that fast - the first trains had a maximum speed of 210 km/h.
China opened its first high-speed rail line in 2008, from Beijing to Tianjin, just ahead of the Olympic Games.
Mobile payments
Some of the first payments by a mobile device were made in 1997 in Finland.
Local news reports from the time (in Finnish) stated that Telecom Finland had enabled a music jukebox and drinks vending machines to be operated by calling a payphone number - including Coca-Cola machines in Helsinki Airport.
However, some argue that mobile payment technology truly began when Apple Pay made its debut in 2014.
E-commerce
Englishman Michael Aldrich is credited with inventing the online shopping concept in 1979.
This picture shows what is believed to be the first online shopping order in Gateshead as 72-year-old Jane Snowball used her television to order margarine, cornflakes and eggs from her local supermarket.
Using a technology called Videotex, Mr Aldrich connected an ordinary TV set to the local retailer's computer via a telephone line.
But it wasn't until the 1990s that e-commerce became popular, when Amazon and eBay launched their websites in 1995.
Bike-sharing
Lastly, the first bike-sharing concept - called the "white bicycle plan" - was introduced in Amsterdam in the 1960s by the Dutch counterculture movement Provo. However, the bikes were confiscated by the police in case they encouraged theft.
The first large-scale bike sharing schemes began in the 1990s in European cities - Copenhagen is credited with introducing the first.
But Chinese firms like Mobike and Ofo are at the forefront of "dockless" bike-sharing, a new system where users locate bikes with their smartphone, and drop them off anywhere without the need to park them at a specific dock.
Image copyrightAFP/GETTY IMAGES
Image caption
Mobile payment is even available at market stalls in China - in this picture a woman buys fruit in Beijing by scanning QR codes on her phone
Dominant player
Likewise, China has outpaced other countries in the widespread adoption and adaptation of all of the four technologies.
"Some may argue that the technologies the 'four new great inventions' are based on did not originate in China. That is true, but it is China that used the technologies to come up with the new inventions," writes Xu Gongcheng, a professor at Xiamen University.
China now has the world's largest high-speed rail network - about 25,000 kilometres (15,500 miles) - and aims to double it by 2030.
China's total mobile payments in the first 10 months of 2017 stood at $12.7 trillion, the world's largest volume, according to China's Ministry of Industry and Information Technology.
And with more than 700 million internet users, China is also the biggest and fastest growing e-commerce market in the world, according to a 2017 study by PricewaterhouseCoopers.
In February, the vice minister of China's Ministry of Transport said that there are 400 million registered bike-sharing users and 23 million shared bikes in China.
Who really came up with China's 'four new inventions'?
By Pratik Jakhar
BBC Monitoring
Claim: China invented high-speed rail, mobile payment, e-commerce, and bike-sharing.
Reality Check verdict: China did not invent any of these technologies - but it has led the way in their widescale implementation.
This is a claim that has repeatedly come up in Chinese state media since May 2017.
Global Times
✔
@globaltimesnews
China's 'four great new inventions' in modern times http://bit.ly/2BclxRK
5:01 AM - Dec 20, 2017
It was most recently repeated at China's National People's Congress (NPC) by Pony Ma - an NPC delegate who's better known as the chief executive of the Chinese internet giant Tencent. He's also the richest man in China, according to the Hurun Global Rich List.
"We have a new phrase called the 'new four great inventions' in China, including high-speed railway, online shopping, mobile payment and sharing bikes," he told journalists at the NPC.
But these technologies did not originate in China and were first devised decades ago.
Where did the claim come from?
The provenance of the claim appears to be a Beijing Foreign Studies University survey from May 2017, which asked young people from 20 countries to list the technology they "most wanted to bring back" to their country from China.
The respondents' top answers were high-speed rail, mobile payment, bike sharing, and e-commerce.
Since then, Chinese media and officials have drawn on this to promote these technologies as China's "four new great inventions" in modern times.
Why keep making the claim?
The term "four new inventions" harks back to the "four great inventions" of ancient China - papermaking, gunpowder, printing and the compass.
China has been putting strong emphasis on technological advancement as it seeks to become what it calls an "innovation nation" by 2020.
"After years of subordination to the technological supremacy of developed nations in the West, China has come to realise the importance of developing core technologies on its own. Only by doing so can it truly gain independence and win respect from both partners and competitors," the Xinhua news agency says.
Already, China is the second-largest spender on research and development after the US, accounting for 21% of the world's total of nearly $2 trillion in 2015, according to the World Economic Forum.
A 50th anniversary ceremony for the Shinkansen bullet train was held in Tokyo in 2014.
High-speed rail
There is no standardised definition of what constitutes "high-speed rail." The European Union defines "high-speed" as at least 250km/h (155mph) on new tracks, and 200km/h on older tracks.
According to the Worldwide Rail Organisation (UIC), the first high-speed train service began in 1964 - Japan's Shinkansen or bullet train.
There had been significant speed records set before in Europe - in France, a train reached 331 km/h in 1955 - but the Tokyo to Osaka line was the first regular service to travel that fast - the first trains had a maximum speed of 210 km/h.
China opened its first high-speed rail line in 2008, from Beijing to Tianjin, just ahead of the Olympic Games.
Mobile payments
Some of the first payments by a mobile device were made in 1997 in Finland.
Local news reports from the time (in Finnish) stated that Telecom Finland had enabled a music jukebox and drinks vending machines to be operated by calling a payphone number - including Coca-Cola machines in Helsinki Airport.
However, some argue that mobile payment technology truly began when Apple Pay made its debut in 2014.
E-commerce
Englishman Michael Aldrich is credited with inventing the online shopping concept in 1979.
This picture shows what is believed to be the first online shopping order in Gateshead as 72-year-old Jane Snowball used her television to order margarine, cornflakes and eggs from her local supermarket.
Using a technology called Videotex, Mr Aldrich connected an ordinary TV set to the local retailer's computer via a telephone line.
But it wasn't until the 1990s that e-commerce became popular, when Amazon and eBay launched their websites in 1995.
Bike-sharing
Lastly, the first bike-sharing concept - called the "white bicycle plan" - was introduced in Amsterdam in the 1960s by the Dutch counterculture movement Provo. However, the bikes were confiscated by the police in case they encouraged theft.
The first large-scale bike sharing schemes began in the 1990s in European cities - Copenhagen is credited with introducing the first.
But Chinese firms like Mobike and Ofo are at the forefront of "dockless" bike-sharing, a new system where users locate bikes with their smartphone, and drop them off anywhere without the need to park them at a specific dock.
Image copyrightAFP/GETTY IMAGES
Image caption
Mobile payment is even available at market stalls in China - in this picture a woman buys fruit in Beijing by scanning QR codes on her phone
Dominant player
Likewise, China has outpaced other countries in the widespread adoption and adaptation of all of the four technologies.
"Some may argue that the technologies the 'four new great inventions' are based on did not originate in China. That is true, but it is China that used the technologies to come up with the new inventions," writes Xu Gongcheng, a professor at Xiamen University.
China now has the world's largest high-speed rail network - about 25,000 kilometres (15,500 miles) - and aims to double it by 2030.
China's total mobile payments in the first 10 months of 2017 stood at $12.7 trillion, the world's largest volume, according to China's Ministry of Industry and Information Technology.
And with more than 700 million internet users, China is also the biggest and fastest growing e-commerce market in the world, according to a 2017 study by PricewaterhouseCoopers.
In February, the vice minister of China's Ministry of Transport said that there are 400 million registered bike-sharing users and 23 million shared bikes in China.
White House criticises China for $3bn tariffs on US imports - BBC News
3/4/2018
White House criticises China for $3bn tariffs on US imports
US pork products are among those affected by new tariffs imposed by China
The White House has criticised China after it imposed retaliatory tariffs against the US on a range of goods, including pork and wine.
Beijing put duties of up to 25% on 128 American imports following President Donald Trump's decision to slap taxes on imports of steel and aluminium.
China said the move was intended to safeguard its interests and balance losses caused by the new tariffs.
US stocks fell sharply and Asia traded generally lower, amid trade war fears.
On Wall Street, the S&P 500 Index lost 2.2%, while the Dow Jones Industrial Average dropped 1.9%.
In Asia, Japan's Nikkei 225 opened down about 1.5% on Tuesday but recovered a little to close 0.45% lower. The Shanghai Composite closed down even further, dropping 0.84%, although Hong Kong's Hang Seng bucked the trend, reversing earlier losses to finish up 0.29%.
What are tariffs and trade wars (and should you worry?)
Five reasons why trade wars aren't easy to win
What could China do in a US trade war?
The White House reacted angrily to China's move.
"Instead of targeting fairly traded US exports, China needs to stop its unfair trading practices which are harming US national security and distorting global markets," spokeswoman Lindsay Walters said.
She added; "China's subsidisation and continued overcapacity is the root cause of the steel crises,"
The back-and-forth reflects rising tensions between the US and China, which President Trump has described as an "economic enemy".
What is this fight about?
The US has taken two major steps on tariffs recently that have triggered tension with China, the first on steel and aluminium and the second on intellectual property.
The global steel and aluminium tariffs were announced on 8 March. The US is using national security laws to impose the tariffs, which it says are needed to protect US producers.
Certain allies such as Canada, Mexico and the European Union are in line for exemptions, pending talks.
Donald Trump has vowed to cut the US trade deficit with China
China has challenged the US use of national security laws and announced retaliatory tariffs on $3bn (£2.1bn) worth of US products.
Those tariffs went into effect on Monday, targeting US goods including frozen pork, nuts, fresh and dried fruit, ginseng and wine.
The US tariffs related to intellectual property are expected to be set out this week.
Donald J. Trump
✔
@realDonaldTrump
When a country (USA) is losing many billions of dollars on trade with virtually every country it does business with, trade wars are good, and easy to win. Example, when we are down $100 billion with a certain country and they get cute, don’t trade anymore-we win big. It’s easy!
8:50 PM - Mar 2, 2018
They stem from a US investigation into the alleged theft of intellectual property and Beijing's "Made in China 2025" programme, which the US says puts its firms at a disadvantage and unfairly pressures them to share technology, especially in fields such as robotics and telecommunications.
Up to $60bn in tariffs could be imposed on Chinese imports.
China's ambassador to the US, Cui Tiankai, warned Beijing would take counter-measures of "the same proportion".
What is a trade war and why should I worry?
Reality Check: Is Trump right about US trade deficit?
Who will blink first?
By Stephen McDonell, BBC News, Hong Kong
China's theft of foreign intellectual property is what sparked all this in the first place, according to Washington. If international companies want to operate in China they must hand over their intellectual property for the privilege, thus delivering the likes of German high-speed rail technology into the hands of Chinese engineers.
Yet now that China's retaliatory tariffs have kicked in, there are also those sympathetic with that argument who are worried that launching a potential tariff war is not the way to fix the problem. Naturally others say China has been getting away with this for years and tough measures were needed in order to force change.
There is also the overall imbalance in US-China trade but a large Chinese surplus, of course, means it is potentially much more exposed during a trade war than America. For this reason Beijing will want to negotiate a way out of this escalating tariff showdown.
Its first set of tariffs are relatively mild but they come in response to the first round of US tariffs and a second has already been announced. There are plenty more American companies to be hit and other nations, especially those in Europe and Asia, could soon find themselves dragged into this conflict.
How have producers reacted?
American businesses caught up in the dispute have raised alarms, noting that China is a large market for certain goods, including pork, soya beans and aircraft.
For example, last year China was the third largest market for US pork, receiving about $1.1bn worth of products, according to the National Pork Producer Council.
"Any restriction on export markets is not a good development for US pork producers," Jim Monroe, a spokesman for the National Pork Producers Council, told the BBC.
US companies have said that while they share some of the Trump administration's concerns, they are worried that threatening tariffs is not the best way to resolve the problems.
"The direction of what the US government is doing, and that is to apply some pressure, use some leverage, to level the playing field is the right one, although I don't think tariffs is the best way to go," said William Zarit. chairman of the American Chamber of Commerce in China.
Mr Zarit told the BBC that members of his organisation, which represents more than 900 companies operating across China, including Intel, Dell, Honeywell and Coca-Cola, were encouraged to hear that top officials have started talking again.
"I think it shows that both sides want to solve this before it gets out of hand," he said.
White House criticises China for $3bn tariffs on US imports
US pork products are among those affected by new tariffs imposed by China
The White House has criticised China after it imposed retaliatory tariffs against the US on a range of goods, including pork and wine.
Beijing put duties of up to 25% on 128 American imports following President Donald Trump's decision to slap taxes on imports of steel and aluminium.
China said the move was intended to safeguard its interests and balance losses caused by the new tariffs.
US stocks fell sharply and Asia traded generally lower, amid trade war fears.
On Wall Street, the S&P 500 Index lost 2.2%, while the Dow Jones Industrial Average dropped 1.9%.
In Asia, Japan's Nikkei 225 opened down about 1.5% on Tuesday but recovered a little to close 0.45% lower. The Shanghai Composite closed down even further, dropping 0.84%, although Hong Kong's Hang Seng bucked the trend, reversing earlier losses to finish up 0.29%.
What are tariffs and trade wars (and should you worry?)
Five reasons why trade wars aren't easy to win
What could China do in a US trade war?
The White House reacted angrily to China's move.
"Instead of targeting fairly traded US exports, China needs to stop its unfair trading practices which are harming US national security and distorting global markets," spokeswoman Lindsay Walters said.
She added; "China's subsidisation and continued overcapacity is the root cause of the steel crises,"
The back-and-forth reflects rising tensions between the US and China, which President Trump has described as an "economic enemy".
What is this fight about?
The US has taken two major steps on tariffs recently that have triggered tension with China, the first on steel and aluminium and the second on intellectual property.
The global steel and aluminium tariffs were announced on 8 March. The US is using national security laws to impose the tariffs, which it says are needed to protect US producers.
Certain allies such as Canada, Mexico and the European Union are in line for exemptions, pending talks.
Donald Trump has vowed to cut the US trade deficit with China
China has challenged the US use of national security laws and announced retaliatory tariffs on $3bn (£2.1bn) worth of US products.
Those tariffs went into effect on Monday, targeting US goods including frozen pork, nuts, fresh and dried fruit, ginseng and wine.
The US tariffs related to intellectual property are expected to be set out this week.
Donald J. Trump
✔
@realDonaldTrump
When a country (USA) is losing many billions of dollars on trade with virtually every country it does business with, trade wars are good, and easy to win. Example, when we are down $100 billion with a certain country and they get cute, don’t trade anymore-we win big. It’s easy!
8:50 PM - Mar 2, 2018
They stem from a US investigation into the alleged theft of intellectual property and Beijing's "Made in China 2025" programme, which the US says puts its firms at a disadvantage and unfairly pressures them to share technology, especially in fields such as robotics and telecommunications.
Up to $60bn in tariffs could be imposed on Chinese imports.
China's ambassador to the US, Cui Tiankai, warned Beijing would take counter-measures of "the same proportion".
What is a trade war and why should I worry?
Reality Check: Is Trump right about US trade deficit?
Who will blink first?
By Stephen McDonell, BBC News, Hong Kong
China's theft of foreign intellectual property is what sparked all this in the first place, according to Washington. If international companies want to operate in China they must hand over their intellectual property for the privilege, thus delivering the likes of German high-speed rail technology into the hands of Chinese engineers.
Yet now that China's retaliatory tariffs have kicked in, there are also those sympathetic with that argument who are worried that launching a potential tariff war is not the way to fix the problem. Naturally others say China has been getting away with this for years and tough measures were needed in order to force change.
There is also the overall imbalance in US-China trade but a large Chinese surplus, of course, means it is potentially much more exposed during a trade war than America. For this reason Beijing will want to negotiate a way out of this escalating tariff showdown.
Its first set of tariffs are relatively mild but they come in response to the first round of US tariffs and a second has already been announced. There are plenty more American companies to be hit and other nations, especially those in Europe and Asia, could soon find themselves dragged into this conflict.
How have producers reacted?
American businesses caught up in the dispute have raised alarms, noting that China is a large market for certain goods, including pork, soya beans and aircraft.
For example, last year China was the third largest market for US pork, receiving about $1.1bn worth of products, according to the National Pork Producer Council.
"Any restriction on export markets is not a good development for US pork producers," Jim Monroe, a spokesman for the National Pork Producers Council, told the BBC.
US companies have said that while they share some of the Trump administration's concerns, they are worried that threatening tariffs is not the best way to resolve the problems.
"The direction of what the US government is doing, and that is to apply some pressure, use some leverage, to level the playing field is the right one, although I don't think tariffs is the best way to go," said William Zarit. chairman of the American Chamber of Commerce in China.
Mr Zarit told the BBC that members of his organisation, which represents more than 900 companies operating across China, including Intel, Dell, Honeywell and Coca-Cola, were encouraged to hear that top officials have started talking again.
"I think it shows that both sides want to solve this before it gets out of hand," he said.
France strike: Rail misery as three-month action tests Macron - BBC News
3/4/2018
France strike: Rail misery as three-month action tests Macron
TGV high-speed services are among those hardest hit
France's rail network has been severely disrupted, as a wave of strikes against President Emmanuel Macron's labour reforms gets under way.
The start of the strike has been dubbed "Black Tuesday", but the action will spread over three months, affecting two days in every five.
Staff at state railway SNCF are leading the strike, but the energy and waste collection sectors are also affected.
The unrest presents Mr Macron's biggest challenge since his election last May.
How is the strike taking hold?
With the four main rail unions observing the strike, services have been severely curtailed. Some 77% of SNCF drivers are on strike, and 48% of all staff.
Only one in eight high-speed TGVs are scheduled and only one in five regional trains.
Commuter lines into Paris have also been slashed and bus services have been hugely overcrowded. Some stations were crammed for the few trains available, others were deserted.
The website that measures car traffic around the capital recorded about 420km (260 miles) of jams at rush hour.
How this could affect your train journey (in French)
International services are more sketchily affected. Eurostar has 75% of trains running and the Thalys services to Belgium, the Netherlands and Germany is almost normal, but there are no services to Spain, Switzerland or Italy.
Crowds at stations varied. Busy here at the Gare de Lyon in Paris...
... less so at the Gare du Nord
Employees of Air France, who are demanding a 6% pay rise, are into the fourth day of industrial action. The airline is operating 75% of its flights.
Unions have also called out all rubbish collectors, to push for the creation of a national collection service and better retirement options. The capital, the north and east, along with Marseilles could be worst affected.
Energy sector unions have also called strikes to demand, among other things, an end to the liberalisation of the energy markets and a review of deregulation.
Can Macron face down the strikers?
Analysis by the BBC's Hugh Schofield in Paris
There are three reasons why President Macron feels relatively optimistic about the rail strike.
First, unlike in the last massive (and successful) general strike in 1995, this time there can have been no mistaking the government's intention to reform. Neither the public nor SNCF staff can pretend the planned changes come out of the blue. They are clearly part of the broad reform agenda for which Mr Macron was elected.
Second, there is far less automatic sympathy for the SNCF than there used to be. The level of rail services has declined sharply, especially for commuters, who are as a result more open to calls for reform.
Third, new options have opened up for commuters. There is home-working; car-pooling; expanded coach services. This should make it easier for workers to get round the inconvenience.
All that said, these will be tense weeks for the government. Nerves are going to fray. People will get angry. Daily life will not be easy. In these circumstances, plans can go badly awry. A wrong move and public opinion could easily shift back behind the strikers.
What is the strike about?
SNCF workers enjoy generous conditions, including automatic annual pay rises, early retirement, 28 days of paid annual leave and protection from dismissal. Their close relatives are also entitled to free rail tickets.
But the rail unions feel the action is wider than that, and it will be a major test of union clout.
Emmanuel Macron insists he has a mandate for reform
Just over 11% of the French workforce is unionised - one of the lowest levels in the EU - but the unions traditionally punch above their weight, economically and politically.
"We're defending the French public service, not just rail workers," said Emmanuel Grondein, head of union Sud Rail.
French unions strike over labour reforms
Macron launches overhaul of labour laws
Macron's meteoric rise - in-depth analysis
The Macron government wants to phase out the special SNCF contracts, proposing to put new hires on contracts like those that apply elsewhere in industry.
The aim is to open up the state railways to competition from 2023, in line with EU requirements. SNCF has €46.6bn ($57.5bn; £40bn) of debt.
Mr Macron's Republic On The Move party also feels the strike has wider connotations.
"We need to rid this country of its strike culture," spokesman Gabriel Attal said.
Opposition to Mr Macron's agenda was shown on 22 March, when tens of thousands of teachers, nurses and other workers joined rail staff on strike.
The BBC's Lucy Williamson in Paris says many union members see Mr Macron as the man who wants to break the power of the unions.
But strikes in September failed to stop Mr Macron passing laws that make it easier for firms to hire and fire, and the majority of the public are opposed to industrial action this time.
France strike: Rail misery as three-month action tests Macron
TGV high-speed services are among those hardest hit
France's rail network has been severely disrupted, as a wave of strikes against President Emmanuel Macron's labour reforms gets under way.
The start of the strike has been dubbed "Black Tuesday", but the action will spread over three months, affecting two days in every five.
Staff at state railway SNCF are leading the strike, but the energy and waste collection sectors are also affected.
The unrest presents Mr Macron's biggest challenge since his election last May.
How is the strike taking hold?
With the four main rail unions observing the strike, services have been severely curtailed. Some 77% of SNCF drivers are on strike, and 48% of all staff.
Only one in eight high-speed TGVs are scheduled and only one in five regional trains.
Commuter lines into Paris have also been slashed and bus services have been hugely overcrowded. Some stations were crammed for the few trains available, others were deserted.
The website that measures car traffic around the capital recorded about 420km (260 miles) of jams at rush hour.
How this could affect your train journey (in French)
International services are more sketchily affected. Eurostar has 75% of trains running and the Thalys services to Belgium, the Netherlands and Germany is almost normal, but there are no services to Spain, Switzerland or Italy.
Crowds at stations varied. Busy here at the Gare de Lyon in Paris...
... less so at the Gare du Nord
Employees of Air France, who are demanding a 6% pay rise, are into the fourth day of industrial action. The airline is operating 75% of its flights.
Unions have also called out all rubbish collectors, to push for the creation of a national collection service and better retirement options. The capital, the north and east, along with Marseilles could be worst affected.
Energy sector unions have also called strikes to demand, among other things, an end to the liberalisation of the energy markets and a review of deregulation.
Can Macron face down the strikers?
Analysis by the BBC's Hugh Schofield in Paris
There are three reasons why President Macron feels relatively optimistic about the rail strike.
First, unlike in the last massive (and successful) general strike in 1995, this time there can have been no mistaking the government's intention to reform. Neither the public nor SNCF staff can pretend the planned changes come out of the blue. They are clearly part of the broad reform agenda for which Mr Macron was elected.
Second, there is far less automatic sympathy for the SNCF than there used to be. The level of rail services has declined sharply, especially for commuters, who are as a result more open to calls for reform.
Third, new options have opened up for commuters. There is home-working; car-pooling; expanded coach services. This should make it easier for workers to get round the inconvenience.
All that said, these will be tense weeks for the government. Nerves are going to fray. People will get angry. Daily life will not be easy. In these circumstances, plans can go badly awry. A wrong move and public opinion could easily shift back behind the strikers.
What is the strike about?
SNCF workers enjoy generous conditions, including automatic annual pay rises, early retirement, 28 days of paid annual leave and protection from dismissal. Their close relatives are also entitled to free rail tickets.
But the rail unions feel the action is wider than that, and it will be a major test of union clout.
Emmanuel Macron insists he has a mandate for reform
Just over 11% of the French workforce is unionised - one of the lowest levels in the EU - but the unions traditionally punch above their weight, economically and politically.
"We're defending the French public service, not just rail workers," said Emmanuel Grondein, head of union Sud Rail.
French unions strike over labour reforms
Macron launches overhaul of labour laws
Macron's meteoric rise - in-depth analysis
The Macron government wants to phase out the special SNCF contracts, proposing to put new hires on contracts like those that apply elsewhere in industry.
The aim is to open up the state railways to competition from 2023, in line with EU requirements. SNCF has €46.6bn ($57.5bn; £40bn) of debt.
Mr Macron's Republic On The Move party also feels the strike has wider connotations.
"We need to rid this country of its strike culture," spokesman Gabriel Attal said.
Opposition to Mr Macron's agenda was shown on 22 March, when tens of thousands of teachers, nurses and other workers joined rail staff on strike.
The BBC's Lucy Williamson in Paris says many union members see Mr Macron as the man who wants to break the power of the unions.
But strikes in September failed to stop Mr Macron passing laws that make it easier for firms to hire and fire, and the majority of the public are opposed to industrial action this time.
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