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Exclusive: Toyota sells electric vehicle technology to Chinese startup Singulato

Singulato workers unwrap a concept car in preparation for the auto show in Shanghai
Singulato workers unwrap a concept car, dubbed the iC3, which is based on a discontinued EV of Toyota, in preparation for the upcoming auto show in Shanghai, China April 14, 2019. REUTERS/Norihiko Shirouzu

April 15, 2019

By Norihiko Shirouzu

BEIJING (Reuters) – Toyota Motor Corp has agreed to sell electric car technology to Singulato, its first deal with a Chinese electric vehicle startup, allowing the fledgling firm to speed up development of a planned mini EV.

In return, Toyota will have preferential rights to purchase green-car credits that Singulato will generate under China’s new quota system for all-electric and plug-in hybrid vehicles.

It will also gain a bird’s-eye view into how Chinese EV startups operate and the strategies they pursue in a fast-changing marketplace, said Singulato Chief Executive Shen Haiyin and two sources at the Japanese automaker.

“With electrification, autonomous driving and car-sharing shaking up the industry, old ways need to be re-examined,” one of the Toyota sources said, declining to be identified as he was not authorized to speak on the matter.

“We have a century’s lead in automotive technology, but we also need to be humble enough to learn from newcomers.”

Singulato will acquire a license to use the design of Toyota’s eQ – a battery electric microcar. The deal is due to be announced on Tuesday at the Shanghai auto show, where Singulato will unveil a concept car based on the eQ.

Singulato plans to redesign the car, tailoring it to local tastes to come up with a model by early 2021 that is more affordable and offers a longer driving range.

“This deal gives us a way to save on time and costs to develop a reliable car and focus on what we excel in,” Shen told Reuters.

Financial terms are not expected to be disclosed. A Singulato source said the startup agreed to pay “several tens of millions of dollars” for eQ’s design.

Toyota said it was taking various measures to accelerate its business in China, a key market, but it would not comment on specific steps.

The agreement is a vote of confidence by Toyota in Singulato’s prospects, said Shen. Founded in 2014 and backed by Intel Corp and Japanese trading house Itochu Corp, Singulato is one of at least 50 Chinese EV startups seeking to survive in a competitive market.

It plans to sell its first self-developed battery electric car called the iS6 this year, competing with models from rival startups like Nio and WM Motor as well as those from global automakers.

WILLING TO SHARE

Singulato’s version of the eQ will be a so-called connected car offering young buyers a host of entertainment, safety and navigation features. The car, which will be called the iC3, will also feature some self-driving technology.

Toyota sold about 100 eQ cars in 2012 and then discontinued it due to concerns over the limits of EVs, including their high price tags, short driving range and long charge time. But Singulato believes technological advances, especially in batteries, have made the car much more marketable.

Shen said the iC3 should be able to go as far as 250-300 km (160-190 miles) on a single full charge and will be priced around 100,000 yuan ($15,000). Singulato aims to sell 200,000 units over five years.

According to the two Toyota sources, the deal is part of efforts to share more technology with China as the Japanese automaker seeks more growth in the world’s largest auto market by beefing up manufacturing capacity and distribution channels.

The green-car credits will also come in handy.

Keen to combat smog, jump-start its own auto industry and lower reliance on imported oil, China is aggressively pursuing the adoption of electric cars. Under a production quota system taking effect this year, automakers are required to produce and sell a certain number of new-energy vehicles in proportion to their overall sales volume.

A carmaker that fails to achieve its quotas will have to acquire NEV points from an automaker with surplus credits or face penalties.

Toyota has said that initially it won’t be able to meet its quotas without buying credits from others. It has also agreed to produce and help sell a car for GAC Motor, a joint venture partner, to generate credits.

According to the Toyota sources, the deal with Singulato has already yielded intriguing glimpses into the thinking of Chinese EV startups and their non-traditional approach to engineering.

One such example was Singulato’s idea to look at linking headlights with satellite, cellular network location data and the driver’s planned trip. That could help turn the headlights along the driver’s route for enhanced visibility and driving safety.

It might not something Toyota would consider but as an idea, “it was eye-opening,” one of the sources said.

(Reporting by Norihiko Shirouzu; Editing by Edwina Gibbs)

Source: OANN

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‘Malthouse Compromise’ on Brexit not dead: UK lawmaker after PM May talks

Conservative MP Steve Baker leaves the Cabinet Office, in London
FILE PHOTO: Conservative MP Steve Baker leaves the Cabinet Office, in London, Britain January 28, 2019. REUTERS/Peter Nicholls

February 19, 2019

LONDON (Reuters) – A eurosceptic British lawmaker said the “Malthouse Compromise” – an attempt to redraft the contentious Irish backstop in the Brexit deal – was “alive and kicking” after a meeting with Prime Minister Theresa May on Tuesday.

Reports had said May’s government would not pursue the proposal, which had been championed by some Conservative lawmakers, in talks with the European Union.

Steve Baker, a member of a euroskeptic group in May’s ruling Conservative Party, said: “The Malthouse Compromise is alive and kicking. The Secretary of State for Exiting the EU can provide details. We look forward to further developments.”

However, a Sky News reporter said Brexit Secretary Stephen Barclay had told her the Malthouse Compromise alternative arrangements would form part of the future relationship discussions only.

(Reporting by William James, Writing by Paul Sandle; Editing by Gareth Jones)

Source: OANN

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Banker: German fraudster spoke 'language' of banking world

A New York banker says the alleged German fraudster Anna Sorokin seemed to "speak the language" of the financial world during her attempt to obtain a multimillion-dollar loan.

Ryan Salem of City National Bank told a Manhattan jury Thursday that his bank denied a request to finance a private arts club Sorokin proposed building.

But he said Sorokin persuaded the bank to loan her $100,000 that she failed to repay despite repeated claims she would wire funds from an overseas account.

The testimony came on the second of Sorokin's grand larceny and theft of services trial in state court in Manhattan.

Prosecutors say Sorokin bilked friends, banks and hotels to the tune of $275,000 over a 10-month period.

Her attorney has said she never intended to commit a crime.

Source: Fox News National

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Trump’s Fed pick Moore draws fire from Democrats; Republicans silent

The U.S. Capitol building is seen through flowers in Washington
The U.S. Capitol building is seen through flowers in Washington, U.S., April 23, 2019. REUTERS/Shannon Stapleton

April 24, 2019

By Ann Saphir and Trevor Hunnicutt

SAN FRANCISCO/NEW YORK (Reuters) – Stephen Moore, the economic commentator that U.S. President Donald Trump has said he will nominate to the Federal Reserve Board, is drawing new fire from top Democrats for his comments denigrating, among other targets, women and the Midwest.

But Republicans, whose 53 to 47 majority in the U.S. Senate gives them the final say on whether Moore’s pending nomination is confirmed, have not weighed in since news surfaced this week documenting Moore’s long history of sexist remarks, some of which he says were made jokingly.

As a Fed governor, Moore would have a say on setting interest rates for the world’s biggest economy. Some economists and Democratic lawmakers have questioned his competence, citing his support for tying policy decisions to commodity prices and his fluctuating views on rates. This week though, it is his comments about gender and geography that are drawing criticism.

“What are the implications of a society in which women earn more than men? We don’t really know, but it could be disruptive to family stability,” Moore wrote in one column in 2014.

In 2000, he opined that “women tennis pros don’t really want equal pay for equal work. They want equal pay for inferior work.” The New York Times among others has documented many other instances where he expressed similar viewpoints.

It’s just added evidence that Moore is unfit for the Fed job, vice chair of the joint economic committee Carolyn Maloney told Reuters.

“Those include his reckless tendency to politicize the Fed as well as his bizarre and sexist comments about women in sports that came to light this week,” she said.

Republicans, she said, “should also take note that Moore has said capitalism is more important than democracy. That’s a dangerous comment that further confirms my belief that Moore shouldn’t be allowed on the Fed Board.”

Maloney earlier this month sent a letter urging Republican Senator Mike Crapo and Democratic Senator Sherrod Brown to oppose Moore’s nomination. Crapo and Brown are the chair and vice chair, respectively, of the Senate banking committee, which would be Moore’s first stop in any confirmation hearings.

Senators Elizabeth Warren and Charles Schumer, both Democrats, have also publicly criticized Moore as well as businessman Herman Cain, who withdrew his name from consideration for the Fed this week amid mounting objections. Cain said he stopped the process because he realized the job would mean a pay cut and would prevent him from pursuing his current business and speaking gigs.

The Senate banking panel’s 13 Republican members, contacted by Reuters about their views on Moore’s suitability for the Fed role after his derisive commentary about women came to light, all either did not respond or declined to comment.

But Brown on Wednesday blasted Moore for comments he made in 2014 calling cities in the Midwest, including Cincinnati, the “armpits of America.” Brown demanded an apology.

“It would be your job to carefully consider monetary and regulatory policies that support communities throughout the country — even those you apparently consider beneath you,” Brown wrote in a letter to Moore. “Based on your bias against communities across the heartland of our country, it’s clear that you lack the judgment to make important decisions in their best interest.”

On Wednesday, Moore told Reuters his earlier remarks on women were not in accord with his current views.

“I DO regret writing that column 17 years ago and it does not reflect my feelings today,” he said, referencing a column on his dim view of women’s participation in the game of basketball.

His views on the Midwest also had improved, now that Trump is in office.

“I’m writing a column about Ohio right now as a matter of fact. Trump is making Ohio great again. It’s a wonderful renaissance. Was just in Cleveland a few weeks ago and the vitality is back.”

(Reporting by Ann Saphir and Trevor Hunnicutt; Editing by Andrea Ricci)

Source: OANN

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Sanders calls his taxes 'boring' but says he'll release returns 'soon'

Sen. Bernie Sanders says he’ll “soon” release a decade’s worth of his tax returns.

But the independent from Vermont who last week launched his second straight bid for the Democratic presidential nomination downplayed the public unveiling of his financial details, saying “they’re very boring tax returns.”

LIFESTYLES OF THE RICH AND SOCIALIST

A rival for the nomination – Sen. Elizabeth Warren of Massachusetts – last August posted 10 years of her returns online.

Asked during a CNN town hall Monday night why the delay in releasing his returns, Sanders answered “well, you know, the delay is not -- it'll bore -- our tax returns will bore you to death. It's simply -- nothing special about them. It just was a mechanical issue. We don't have accountants at home. My wife does most of it. And we will get that stuff out.”

The populist firebrand and self-described democratic socialist owns two homes in Vermont and one in Washington, DC. Sanders has also earned more than $1 million annually in recent years, though he remains on the lower end of Senate Democrats in terms of net worth.

Sanders faced some criticism for not releasing his taxes during his marathon 2016 primary battle with eventual Democratic nominee Hillary Clinton.

“I didn't end up doing it because I didn't win the nomination. If we had won the nomination, we would have done it,” Sanders explained on Monday.

But Clinton made eight years’ worth of tax returns available in July 2015, early in the primary campaign and a year before the general election.

HOUSE DEMS TARGET TRUMP TAX RETURNS

President Trump cast aside decades of tradition during the 2016 presidential campaign when he refused to voluntarily release his tax returns, which could give some transparency to his large real estate and entertainment empire that he touts is worth some $10 billion. Trump said at the time that his taxes couldn’t be released because he was under audit.

Democrats, who now control the House of Representatives, are taking steps to try to compel the president to release his returns. But Trump has repeatedly reiterated that he won’t release his personal tax returns or those for the Trump Organization until a review of the records is completed. And he’s argued that he wouldn’t release them because Americans elected him in 2016 without seeing his returns.

WARREN VOWS NO BIG FUNDRAISERS DURING PRIMARIES

Sanders announced his 2020 presidential bid last Tuesday. As of Monday, six days after his campaign launch, the senator had raised an eye-popping $10 million from over 359,914 donors. Those numbers put him far ahead of his rivals for the nomination in the race for campaign cash.

Source: Fox News Politics

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U.S. looking at responses to unilateral digital taxes: Treasury official

FILE PHOTO: Apple company logos are reflected on the glass window outside an Apple store in Shanghai
FILE PHOTO: Apple company logos are reflected on the glass window outside an Apple store in Shanghai, China January 3, 2019. REUTERS/Aly Song/File Photo

March 12, 2019

PARIS (Reuters) – The U.S. government is looking at how to respond to plans by governments such as France and Britain for taxes specifically targeting digital companies, a senior U.S. Treasury official said on Tuesday.

France and Britain as well as Italy and Spain are pushing ahead with plans for such taxes at the national level after EU countries failed to reach an agreement for the bloc as a whole.

Other countries outside the EU such as Australia are also planning such taxes in the absence of a broader reform of international tax rules to account for the rise of big digital companies such as Apple, Google and Facebook.

Chip Harter, the U.S. Treasury’s top international tax official, said such unilateral taxes were “ill conceived” and that it was better to pursue broader international tax reform at the Organisation for Economic Co-operation & Development (OECD).

“The challenges facing the international tax system are just far broader than how to tax social media and search engines,” Harter told journalists in Paris before talks at the OECD, a club of mostly wealthy nations, later this week.

The emergence of digital giants has pushed international tax rules to the limit because they can book profits in countries with the lowest taxes no matter where the customer is, which some countries like France say is unfair.

“The United States opposes any digital services tax proposals whether they be French or UK,” Harter said.

“What we have seen of the most recent French proposals, we view them as highly discriminatory against U.S. businesses … Various parts of our government are studying whether that discriminatory impact would give us rights under trade agreements, WTO, treaties,” he added.

Global reform of international tax rules have been debated for years but progress has been slow in the face of widely varying national interests.

A new push is under way at the Paris-based OECD after nearly 127 countries and territories agreed in January that any revision of global tax rules should tackle some of the most vexed issues, such as how to divide up the right to tax digital firms’ cross-border income between countries.

Speaking in a public session of a meeting of EU finance ministers, Romania’s Eugen Teodorovici said EU governments will focus on trying to reach a common position over the OECD-led overhaul.

If that reform were delayed beyond 2020, the EU could restart talks for its own tax, after they foundered because of the opposition of some governments in the 28-nation bloc.

(Reporting by Leigh Thomas; Additional reporting by Francesco Guarascio; Editing by Alison Williams)

Source: OANN

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Border Expert, Novelist Winslow: Trump's Feet 'Stuck in Cement of Fantasy'

Most of the drugs entering the United States are coming through the ports of entry, not across the border, and President Donald Trump has his "feet stuck in the cement of fantasy" with his insistence a border wall will keep drugs out, border expert Don Winslow said Tuesday.

"He knows the facts," Winslow, whose new book "The Border: The Novel" is out today, told MSNBC's "Morning Joe."

"He knows the facts," Winslow said. "The DEA has told us this. If you read the last five years of their report, it says it. The cartels have told us this lately in the (Joaquin "El Chapo") Guzman trial. Major traffickers on the stand said it comes through these open gates, so President Trump knows this."

However, his refusal to acknowledge the problem means he's showing "willful ignorance," said Winslow.

"I think he's just stuck his feet into his campaign promises and he's sticking it out," he added. "I guarantee you, this wall will do nothing to stop the flow of drugs. In fact, it will help the flow of drugs. It's going to drive more migrants into the hands of cartels, who are getting into the human smuggling business."

Winslow said that 90 percent of the illicit drugs that come in are arriving through ports of entry, while a wall will force the mules bringing drugs through the hills to be transported by the cartels through the ports of entry.

"They'll pay a tax to the cartels of something like 5-7 percent of the value of the product of that heroin, that cocaine, that methamphetamine, and that will feed the cartel's profits," said Winslow.

Source: NewsMax America

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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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