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Ryanair triggers Brexit plans on restricted shareholder rights

FILE PHOTO: A Ryanair aircraft lands at the airport in Modlin near Warsaw, Poland
FILE PHOTO: A Ryanair aircraft lands at the airport in Modlin near Warsaw, Poland November 15, 2018. REUTERS/Kacper Pempel

March 11, 2019

DUBLIN (Reuters) – Ryanair has triggered contingency plans to restrict the voting rights of British shareholders if it leaves the European Union without a deal on future relations or quits both the EU customs union and single market in a “hard” Brexit scenario.

Ryanair announced last year it would have to restrict the rights if UK shareholders ceased to qualify as European Union nationals to ensure it remained majority EU-owned to comply with its licensing and flight rights.

Its board passed a number of resolutions on Friday which will become effective on the date British nationals become non-EU nationals, Europe’s biggest low cost airline said in a statement.

At that point, shareholders will be issued with restricted share notices, specifying that they will not be entitled to attend, speak or vote at any general meeting of the company for as long as those shares are treated as restricted shares.

“These resolutions will remain in place until the board determines that the ownership and control of the company is no longer such that there is any risk to the airline licenses held by the company’s subsidiaries pursuant to EU Regulation 1008/2008,” Ryanair said.

Ryanair Chief Financial Officer Neil Sorohan said last month that while the airline was 55 percent EU-owned, Britain-based shareholders controlled 20 percent of its stock. He told Reuters he expected half of those to redomicile to the EU in a no-deal or “hard” Brexit.

Chief Executive Michael O’Leary also said last month that the carrier might look to buy back shares in the event of a no-deal Brexit to use it as an opportunity for British shareholders to dispose stock due to the planned restrictions.

(Reporting by Padraic Halpin; Editing by Edmund Blair)

Source: OANN

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Putin envoy in Caracas rejects US revival of Monroe Doctrine

As Venezuela's reliance on Russia grows amid the country's unfolding crisis, Vladimir Putin's point man in Caracas is pushing back on the U.S. revival of a doctrine used for generations to justify military interventions in the region.

In a rare interview, Russian Ambassador Vladimir Zaemskiy rejected an assertion this week by U.S. National Security Adviser John Bolton that the 1823 Monroe Doctrine is "alive and well."

The policy, originally aimed at opposing any European meddling in the hemisphere, was used to justify U.S. military interventions in countries including Cuba, Nicaragua, the Dominican Republic and Grenada, but had been left for dead by recent U.S. administrations trying to turn the page on a dark past.

"It's hard to believe that the U.S. administration have invented a time machine that not only allows them to turn back the clock but also the direction of the universe," the 66-year-old diplomat told The Associated Press this week.

In an example of how the Cold War-like rhetoric on all sides of Venezuela's crisis has quickly escalated, the ambassador compared hostile comments by Bolton, Secretary of State Mike Pompeo and Republican Sen. Marco Rubio to those of the al Qaeda leaders behind the Sept. 11, 2001, terrorist attacks.

"Their obsession in imposing their will, in this case on Venezuela's internal affairs, reminds me of the declarations of the leaders of al Qaeda, who in carrying out the attack on the Twin Towers also tried to position themselves as the only bearers of the truth," said Zaemskiy, who was senior counselor at Russia's mission to the United Nations on 9/11. "The history of humanity has shown that none of us are."

Those specific, written remarks were prepared ahead of the interview.

While the Trump administration led a chorus of some 50 nations that in January recognized opposition leader Juan Guaidó as Venezuela's rightful leader, Putin has steadfastly stood by Nicolás Maduro, sending planeloads of military personnel and blocking condemnation of his government at the U.N. Security Council.

In a speech this week commemorating the anniversary of the disastrous CIA-organized invasion of Cuba in 1961 by exiles opposed to Fidel Castro's revolution, Bolton warned Russia against deploying military assets to "prop up" Maduro, considering such actions a violation of the Monroe Doctrine.

What the U.S. considers Russia's destabilizing support for Maduro hit a high point in December when two Russian bombers capable of carrying nuclear weapons touched down in Caracas. Then, last month, dozens of uniformed personnel arrived to service Sukhoi fighter jets and an S-300 missile system.

Zaemskiy said such military cooperation is perfectly legal and has been taking place for years — ever since the U.S. in 2006 banned all arms sales to the South American country. But he said the alliance has taken on added importance as the Trump administration repeatedly insists that a "military option" to remove Maduro remains on the table.

He was unwilling to say how far Russia would go to thwart an eventual U.S. attack, saying that as a diplomat he's an optimist.

"I firmly believe that in the end reason will prevail and no tragedy will take place," he said.

The soft-spoken, bookish Zaemskiy has specialized in Latin America since his days working for the Soviet Union and was posted to Washington for the first of two U.S. tours when the Cold War ended.

Because of his strong Spanish and English, he was a note-taker at the U.N. in September 2000 when Maduro's mentor and predecessor Hugo Chavez met Putin for the first time. He said he recalls Chavez complaining to the newly elected Putin about the need to raise oil prices, then near three-decade low. The two petroleum powers gradually cemented a political, military and economic alliance over the next few years as oil prices surged to an all-time high, bringing riches to both.

The aquamarine-colored Russian Embassy, where Zaemskiy also lives, was a mid-century mansion purchased in the 1970s from a wealthy military colonel trained in the U.S. It lies in the shadow the hilltop U.S. Embassy, whose flagpole has been bare since the last American diplomats pulled out of the country last month amid a feud with Maduro over its recognition of Guaidó.

He acknowledged that with hyperinflation raging and many goods in short supply, Venezuela is in a "very difficult" situation. Echoing Maduro, he blamed U.S. sanctions, as well as the stifling of private investment.

His first tour in Venezuela as a protocol officer came from 1976 to 1979, when modern skyscrapers paid for by a flood of petrodollars transformed Caracas' skyline even as many outside the capital lived in what he described as a semi-feudal state. Zaemskiy said the legacy of Chavez's economic and political revolution — that it restored dignity to the poor — remains intact.

"It's perfectly clear to me that the economic situation of the country has deteriorated a great deal," he said. "The way forward is to open more opportunities for the private sector, which still has a big role to play in the country and should be allowed to demonstrate that" — seemingly a veiled criticism of Maduro's constant squeeze on private businesses.

To break the current stalemate, he urged something the government's foes have so far rejected: burying the past and starting negotiations, perhaps with the mediation of the Vatican or U.N.

The U.S. and opposition insist that past attempts at dialogue have only served to give Maduro badly needed political oxygen while producing no progress.

"The lack of confidence is a problem on both sides, which is why they should think together on some innovative ways to create reassurances in this process," he said. "To simply reject the possibility of dialogue and repeat that the only way forward is the 'end of usurpation' as the opposition says, won't lead anywhere."

Despite such outward care for Maduro, some have questioned the depth of Russia's support.

Russia is major investor in Venezuela's oil industry, but those interests have been jeopardized since the Trump administration in January imposed sanctions on state-run oil giant PDVSA and even went after a Moscow-based bank for facilitating its transactions. At the same time PDVSA last month moved its European headquarters to Moscow from Lisbon, Gazprombank said it was pulling out of a joint venture with the company, Russian state media reported.

"The core value of Russia's association with Chavismo is a challenge to U.S. prerogatives in its supposed backyard," said Ivan Briscoe, the head in Latin American for the Crisis Group, a Brussels-based think tank. "That said, Russian diplomacy is nothing if not realistic. They know Venezuela is plunging into an economic abyss with tragic humanitarian consequences. When the moment comes and tensions reach a height, they are likely to help negotiate a settlement, but will aim to exact the highest price they can."

___

Follow Goodman on Twitter: https://twitter.com/APjoshgoodman

Source: Fox News World

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‘Wake up’, Macron will tell Europe in major pre-Brexit speech: sources

FILE PHOTO: French President Emmanuel Macron waits for the arrival of Tunisian Prime Minister Youssef Chahed at the Elysee Palace in Paris
FILE PHOTO: French President Emmanuel Macron at the Elysee Palace in Paris, France, February 15, 2019. REUTERS/Philippe Wojazer/File Photo

February 18, 2019

By Michel Rose

PARIS (Reuters) – Emmanuel Macron will describe Brexit as a wake-up call in a speech this month in which he will outline how Europe must be more assertive in the face of rival world powers, sources close to the French president said.

His words are intended as a “warning shot” for a continent unable to project power and defend itself, said aides who described the speech as Macron’s most important since he spoke at the Sorbonne University in Paris in September 2017 urging fundamental reform of the European Union.

“This is a critical time,” a source close to Macron told Reuters. “If we Europeans don’t want to have other Brexits and become trapped in a naive defense of status quo, we have to wake up.”

Macron’s speech coincides with rising tensions in the West, which has been shaken by U.S. President Donald Trump’s “America First” policies and Britain’s departure from the EU. A more assertive China and Russia also pose major challenges.

Although Macron will use Britain’s planned departure from the EU on March 29 as the main impetus for his speech, the aim is not to offer an initiative to unblock the negotiating stalemate between London and Brussels, the source said.

The date and location of the speech have not yet been fixed.

“He won’t comment on the negotiation, or offer some kind of ‘Macron plan’ to fix the problem. The idea is to draw the lessons from Brexit,” the source said.

In Macron’s view, Brexit is part of the same phenomenon that brought Trump to power and sparked the “yellow vest” movement in France: a fear of losing out from globalization, territorial inequalities and rising contempt for the establishment.

The French leader will focus on championing a “Europe that protects” in the May 26 European election and seek to convince voters with plans aimed at reforming Europe’s trade, competition, digital and climate policies.

The speech will also seek to convince his European counterparts, who have watered down many of his Sorbonne proposals since 2017, to start thinking of the EU as a tougher geopolitical player in a ruthless world.

“The EU has done the internal regulation rather well, built a nice, peaceful area, with benign trade and regulated competition. But Europe hasn’t understood how to carry itself in a brutal world,” the source said.

(Writing by Michel Rose; additional reporting by Jean-Baptiste Vey)

Source: OANN

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Poisonous baby toads plague Florida neighborhood by the thousands: report

Thousands of poisonous baby toads have reportedly overrun a Florida suburb and residents are fed up.

The bufo toads, also known as cane toads, started showing up at Jennie Quasha’s home in the Mirabella neighborhood in Palm Beach Garden on March 14, but the problem was much worse the next day.

“Friday morning, it was like a mass exodus of toads. Baby toads. They’re very small, and all crawling from the lake. At this point, we didn’t know if they were frogs or toads. When I say billions and billions, you can’t even count,” the mother-of-three told The Palm Beach Post.

WORLD’S ‘LONELIEST’ FROG, ROMEO, FINALLY HAS HIS JULIET

Bufo toads secrete toxins that can cause eye irritation in children or harm pets, according to WPBF.

“I just see a massive amount of toads or frogs everywhere, covering every square inch,” Quasha told WPTV. “You can’t even walk through the grass without stepping on one.”

According to The Palm Beach Post, the toads have been clogging pools and swarming patios and streets.

The outlet also reported homeowners in the neighborhood have been given a letter explaining that the toad infestation is an isolated, natural occurrence.

FROGS AND TOADS ‘FALLING’ FROM ABOVE IN NORTH CAROLINA AS POPULATIONS EXPLODE

Mark Holladay, of the pest removal service Toad Busters, told WPTV that recent rains, coupled with warm temperatures, sent the amphibians into a breeding cycle.

Holladay said even more toads are likely to spread throughout South Florida in the coming weeks.

The Associated Press contributed to this report.

Source: Fox News National

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Police: Chicago officer shot, suspect in custody

Chicago police say an officer was shot while executing a warrant and a suspect was taken into custody.

Police Superintendent Eddie Johnson says the incident happened Saturday night on the city's West Side as police attempted to execute a warrant for narcotics and illegal weapons. Johnson says a shot was fired through a rear door and the 34-year-old officer was struck in the shoulder.

The superintendent says the officer is in stable but critical condition, and police spokesman Anthony Guglielmi says he's expected to survive.

Guglielmi says an adult female suspect was arrested and a weapon was recovered from the scene. The suspect was also a target of the search warrant.

Johnson says the officer has been on the job for more than 4 years and was a U.S. Marine before joining the department.

Source: Fox News National

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EU raids salmon farmers in suspected cartel inquiry

FILE PHOTO: Scottish salmon is pictured at the fish pavilion in the Rungis International wholesale food market as buyers prepare for the Christmas holiday season in Rungis
FILE PHOTO: Scottish salmon is pictured at the fish pavilion in the Rungis International wholesale food market as buyers prepare for the Christmas holiday season in Rungis, south of Paris, France, November 30, 2017. Picture taken November 30, 2017. REUTERS/Benoit Tessier/File Photo

February 19, 2019

By Foo Yun Chee and Nerijus Adomaitis

BRUSSELS/OSLO (Reuters) – Antitrust regulators raided salmon farms in several European Union countries owned by companies including Norway’s Mowi on Tuesday in a suspected cartel inquiry.

“The Commission has concerns that the inspected companies may have violated EU antitrust rules that prohibit cartels and restrictive business practices,” it said in a statement.

While the Commission did not name the companies involved, Mowi, the world’s biggest producer of farmed Atlantic salmon, told Reuters that the EU regulators had raided two of its businesses, in Scotland and the Netherlands.

“We have nothing to hide, we are cooperating with the European Commission,” Mowi spokesman Ola Helge Hjetland said.

Norway’s Grieg Seafood said that one of its facilities in Scotland’s Shetland Islands had been inspected.

“Grieg Seafood aims to be open, transparent and forthcoming and will provide all necessary information requested by the European Commission DG Competition in its investigation,” it said in a statement.

And the Chief Executive of Norway’s Salmar Olav-Andreas Ervik said that the Commission had raided Scottish Sea Farms, its joint venture with Leroey Seafood.

He said the company was also cooperating.

(Reporting by Foo Yun Chee and Nerijus Adomaitis; writing by Alister Doyle; editing by Francesco Guarascio and Alexander Smith)

Source: OANN

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Syrian force expects to evacuate last civilians from Islamic State enclave on Thursday

A fighter from the Syrian Democratic Forces (SDF) gives bread to children near the village of Baghouz
A fighter from the Syrian Democratic Forces (SDF) gives bread to children near the village of Baghouz, Deir Al Zor province, Syria February 20, 2019. REUTERS/Rodi Said

February 21, 2019

DEIR AL-ZOR, Syria (Reuters) – The evacuation of civilians from Islamic State’s last remaining enclave in eastern Syria is expected to be completed on Thursday after which the Syrian Democratic Forces (SDF) will engage the last jihadists holed up inside, SDF official Mustafa Bali said.

The village of Baghouz at the Iraqi border is the last scrap of territory left to Islamic State in the Euphrates valley region that became its final major stronghold in Iraq and Syria after a series of defeats in 2017.

(Reporting by Rodi Said; Writing by Tom Perry; Editing by Robert Birsel)

Source: OANN

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The Wider Image: China's start-ups go small in age of 'shoebox' satellites
LinkSpace’s reusable rocket RLV-T5, also known as NewLine Baby, is carried to a vacant plot of land for a test launch in Longkou, Shandong province, China, April 19, 2019. REUTERS/Jason Lee

April 26, 2019

By Ryan Woo

LONGKOU, China (Reuters) – During initial tests of their 8.1-metre (27-foot) tall reusable rocket, Chinese engineers from LinkSpace, a start-up led by China’s youngest space entrepreneur, used a Kevlar tether to ensure its safe return. Just in case.

But when the Beijing-based company’s prototype, called NewLine Baby, successfully took off and landed last week for the second time in two months, no tether was needed.

The 1.5-tonne rocket hovered 40 meters above the ground before descending back to its concrete launch pad after 30 seconds, to the relief of 26-year-old chief executive Hu Zhenyu and his engineers – one of whom cartwheeled his way to the launch pad in delight.

LinkSpace, one of China’s 15-plus private rocket manufacturers, sees these short hops as the first steps towards a new business model: sending tiny, inexpensive satellites into orbit at affordable prices.

Demand for these so-called nanosatellites – which weigh less than 10 kilograms (22 pounds) and are in some cases as small as a shoebox – is expected to explode in the next few years. And China’s rocket entrepreneurs reckon there is no better place to develop inexpensive launch vehicles than their home country.

“For suborbital clients, their focus will be on scientific research and some commercial uses. After entering orbit, the near-term focus (of clients) will certainly be on satellites,” Hu said.

In the near term, China envisions massive constellations of commercial satellites that can offer services ranging from high-speed internet for aircraft to tracking coal shipments. Universities conducting experiments and companies looking to offer remote-sensing and communication services are among the potential domestic customers for nanosatellites.

A handful of U.S. small-rocket companies are also developing launchers ahead of the expected boom. One of the biggest, Rocket Lab, has already put 25 satellites in orbit.

No private company in China has done that yet. Since October, two – LandSpace and OneSpace – have tried but failed, illustrating the difficulties facing space start-ups everywhere.

The Chinese companies are approaching inexpensive launches in different ways. Some, like OneSpace, are designing cheap, disposable boosters. LinkSpace’s Hu aspires to build reusable rockets that return to Earth after delivering their payload, much like the Falcon 9 rockets of Elon Musk’s SpaceX.

“If you’re a small company and you can only build a very, very small rocket because that’s all you have money for, then your profit margins are going to be narrower,” said Macro Caceres, analyst at U.S. aerospace consultancy Teal Group.

“But if you can take that small rocket and make it reusable, and you can launch it once a week, four times a month, 50 times a year, then with more volume, your profit increases,” Caceres added.

Eventually LinkSpace hopes to charge no more than 30 million yuan ($4.48 million) per launch, Hu told Reuters.

That is a fraction of the $25 million to $30 million needed for a launch on a Northrop Grumman Innovation Systems Pegasus, a commonly used small rocket. The Pegasus is launched from a high-flying aircraft and is not reusable.

(Click https://reut.rs/2UVBjKs to see a picture package of China’s rocket start-ups. Click https://tmsnrt.rs/2GIy9Bc for an interactive look at the nascent industry.)

NEED FOR CASH

LinkSpace plans to conduct suborbital launch tests using a bigger recoverable rocket in the first half of 2020, reaching altitudes of at least 100 kilometers, then an orbital launch in 2021, Hu told Reuters.

The company is in its third round of fundraising and wants to raise up to 100 million yuan, Hu said. It had secured tens of millions of yuan in previous rounds.

After a surge in fresh funding in 2018, firms like LinkSpace are pushing out prototypes, planning more tests and even proposing operational launches this year.

Last year, equity investment in China’s space start-ups reached 3.57 billion yuan ($533 million), a report by Beijing-based investor FutureAerospace shows, with a burst of financing in late 2018.

That accounted for about 18 percent of global space start-up investments in 2018, a historic high, according to Reuters calculations based on a global estimate by Space Angels. The New York-based venture capital firm said global space start-up investments totaled $2.97 billion last year.

“Costs for rocket companies are relatively high, but as to how much funding they need, be it in the hundreds of millions, or tens of millions, or even just a few million yuan, depends on the company’s stage of development,” said Niu Min, founder of FutureAerospace.

FutureAerospace has invested tens of millions of yuan in LandSpace, based in Beijing.

Like space-launch startups elsewhere in the world, the immediate challenge for Chinese entrepreneurs is developing a safe and reliable rocket.

Proven talent to develop such hardware can be found in China’s state research institutes or the military; the government directly supports private firms by allowing them to launch from military-controlled facilities.

But it’s still a high-risk business, and one unsuccessful launch might kill a company.

“The biggest problem facing all commercial space companies, especially early-stage entrepreneurs, is failure” of an attempted flight, Liang Jianjun, chief executive of rocket company Space Trek, told Reuters. That can affect financing, research, manufacturing and the team’s morale, he added.

Space Trek is planning its first suborbital launch by the end of June and an orbital launch next year, said Liang, who founded the company in late 2017 with three other former military technical officers.

Despite LandSpace’s failed Zhuque-1 orbital launch in October, the Beijing-based firm secured 300 million yuan in additional funding for the development of its Zhuque-2 rocket a month later.

In December, the company started operating China’s first private rocket production facility in Zhejiang province, in anticipation of large-scale manufacturing of its Zhuque-2, which it expects to unveil next year.

STATE COMPETITION

China’s state defense contractors are also trying to get into the low-cost market.

In December, the China Aerospace Science and Industry Corp (CASIC) successfully launched a low-orbit communication satellite, the first of 156 that CASIC aims to deploy by 2022 to provide more stable broadband connectivity to rural China and eventually developing countries.

The satellite, Hongyun-1, was launched on a rocket supplied by the China Aerospace Science and Technology Corp (CASC), the nation’s main space contractor.

In early April, the China Academy of Launch Vehicle Technology (CALVT), a subsidiary of CASC, completed engine tests for its Dragon, China’s first rocket meant solely for commercial use, clearing the path for a maiden flight before July.

The Dragon, much bigger than the rockets being developed by private firms, is designed to carry multiple commercial satellites.

At least 35 private Chinese companies are working to produce more satellites.

Spacety, a satellite maker based in southern Hunan province, plans to put 20 satellites in orbit this year, including its first for a foreign client, chief executive Yang Feng told Reuters.

The company has only launched 12 on state-produced rockets since the company started operating in early 2016.

“When it comes to rocket launches, what we care about would be cost, reliability and time,” Yang said.

(Reporting by Ryan Woo; Additional reporting by Beijing newsroom; Editing by Gerry Doyle)

Source: OANN

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German drug and crop chemical maker Bayer holds annual general meeting
Werner Baumann, CEO of German pharmaceutical and chemical maker Bayer AG, attends the annual general shareholders meeting in Bonn, Germany, April 26, 2019. REUTERS/Wolfgang Rattay

April 26, 2019

By Patricia Weiss and Ludwig Burger

BONN (Reuters) – Bayer shareholders vented their anger over its stock price slump on Friday as litigation risks mount from the German drugmaker’s $63 billion takeover of seed maker Monsanto.

Several large investors said they will not support aspirin investor Bayer’s management in a key vote scheduled for the end of its annual general meeting.

Bayer’s management, led by chief executive Werner Baumann, could see an embarrassing plunge in approval ratings, down from 97 percent at last year’s AGM, which was held shortly before the Monsanto takeover closed in June.

A vote to ratify the board’s actions features prominently at every German AGM. Although it has no bearing on management’s liability, it is seen as a key gauge of shareholder sentiment.

“Due to the continued negative development at Bayer, high legal risks and a massive share price slump, we refuse to ratify the management board and supervisory board’s actions during the business year,” Janne Werning, representing Germany’s Union Investment, a top-20 shareholder, said in prepared remarks.

About 30 billion euros ($34 billion) have been wiped off Bayer’s market value since August, when a U.S. jury found the pesticide and drugs group liable because Monsanto had not warned of alleged cancer risks linked to its weedkiller Roundup.

Bayer suffered a similar defeat last month and more than 13,000 plaintiffs are claiming damages.

Bayer is appealing or plans to appeal the verdicts.

Deutsche Bank’s asset managing arm DWS said shareholders should have been consulted before the takeover, which was agreed in 2016 and closed in June last year.

“You are pointing out that the lawsuits have not been lost yet. We and our customers, however, have already lost something – money and trust,” Nicolas Huber, head of corporate governance at DWS, said in prepared remarks for the AGM.

He said DWS would abstain from the shareholder vote of confidence in the executive and non-executive boards.

Two people familiar with the situation told Reuters this week that Bayer’s largest shareholder, BlackRock, plans to either abstain from or vote against ratifying the management board’s actions.

Asset management firm Deka, among Bayer’s largest German investors, has also said it would cast a no vote.

Baumann said Bayer’s true value was not reflected in the current share price.

“There’s no way to make this look good. The lawsuits and the first verdicts weigh heavily on our company and it’s a concern for many people,” he said, adding it was the right decision to buy Monsanto and that Bayer was vigorously defending itself.

This month, shareholder advisory firms Institutional Shareholder Services (ISS) and Glass Lewis recommended investors not to give the executive board their seal of approval.

(Reporting by Patricia Weiss and Ludwig Burger; Editing by Alexander Smith)

Source: OANN

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Sudan’s military, which ousted President Omar al-Bashir after months of protests against his 30-year rule, says it intends to keep the upper hand during the country’s transitional period to civilian rule.

The announcement is expected to raise tensions with the protesters, who demand immediate handover of power.

The Sudanese Professionals Association, which is spearheading the protests, said Friday the crowds will stay in the streets until all their demands are met.

Shams al-Deen al-Kabashi, the spokesman for the military council, said late Thursday that the military will “maintain sovereign powers” while the Cabinet would be in the hands of civilians.

The protesters insist the country should be led by a “civilian sovereign” council with “limited military representation” during the transitional period.

The army toppled and arrested al-Bashir on April 11.

Source: Fox News World

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FILE PHOTO: Small toy figures are seen in front of a displayed Huawei and 5G network logo in this illustration picture
FILE PHOTO: Small toy figures are seen in front of a displayed Huawei and 5G network logo in this illustration picture, March 30, 2019. REUTERS/Dado Ruvic

April 26, 2019

By Charlotte Greenfield

WELLINGTON (Reuters) – China’s Huawei Technologies said Britain’s decision to allow the firm a restricted role in building parts of its next-generation telecoms network was the kind of solution it was hoping for in New Zealand, where it has been blocked from 5G plans.

Britain will ban Huawei from all core parts of 5G network but give it some access to non-core parts, sources have told Reuters, as it seeks a middle way in a bitter U.S.-China dispute stemming from American allegations that Huawei’s equipment could be used by Beijing for espionage.

Washington has also urged its allies to ban Huawei from building 5G networks, even as the Chinese company, the world’s top producer of telecoms equipment, has repeatedly said the spying concerns are unfounded.

In New Zealand, a member of the Five Eyes intelligence sharing network that includes the United States, the Government Communications Security Bureau (GCSB) in November turned down an initial request from local telecommunication firm Spark to include Huawei equipment in its 5G network, but later gave the operator options to mitigate national security concerns.

“The proposed solution in the UK to restrict Huawei from bidding for the core is exactly the type of solution we have been looking at in New Zealand,” Andrew Bowater, deputy CEO of Huawei’s New Zealand arm, said in an emailed statement.

Spark said it has noted the developments in Britain and would raise it with the GCSB.

The reports “suggest the UK is following other European jurisdictions in taking a considered and balanced approach to managing supplier-related security risks in 5G”, Andrew Pirie, Spark’s corporate relations lead, said in an email.

“Our discussions with the GCSB are ongoing and we expect that the UK developments will be a further item of discussion between us,” Pirie added.

New Zealand’s minister for intelligence services, Andrew Little, did not immediately respond to a request for comment.

British culture minister Jeremy Wright said on Thursday that he would report to parliament the conclusions of a government review of the 5G supply chain once they had been taken.

He added that the disclosure of confidential discussions on the role of Huawei was “unacceptable” and that he could not rule out a criminal investigation into the leak.

The decisions by Britain and Germany to use Huawei gear in non-core parts of 5G network makes it harder to prove Huawei should be kept out of New Zealand telecommunication networks, said Syed Faraz Hasan, an expert in communication engineering and networks at New Zealand’s Massey University

He pointed out Huawei gear was already part of the non-core 4G networks that 5G infrastructure would be built on.

“Unless there is a convincing argument against the Huawei devices … it is difficult to keep them away,” Hasan said.

(Reporting by Charlotte Greenfield; Editing by Himani Sarkar)

Source: OANN

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FILE PHOTO: The logo commodities trader Glencore is pictured in Baar
FILE PHOTO: The logo of commodities trader Glencore is pictured in front of the company’s headquarters in Baar, Switzerland, July 18, 2017. REUTERS/Arnd Wiegmann

April 26, 2019

(Reuters) – Glencore shares plunged the most in nearly four months on Friday after news overnight that U.S. regulators were investigating whether the miner broke some rules through “corrupt practices”.

Shares of the FTSE 100 company fell as much as 4.2 percent in early deals, and were down 3.5 percent at 310.25 pence by 0728 GMT.

On Thursday, Glencore said the U.S. Commodity Futures Trading Commission is investigating whether the company and its units have violated some provisions of the Commodity ExchangeAct and/or CFTC Regulations.

(Reporting by Muvija M in Bengaluru)

Source: OANN

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