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McIlroy wins Players Championship by one stroke in Florida

PGA: THE PLAYERS Championship - Final Round
Mar 17, 2019; Ponte Vedra Beach, FL, USA; Rory McIlroy plays his shot from the 18th tee during the final round of THE PLAYERS Championship golf tournament at TPC Sawgrass - Stadium Course. Mandatory Credit: Jasen Vinlove-USA TODAY Sports

March 17, 2019

(Reuters) – Northern Irishman Rory McIlroy emerged as the last man standing in a wild final round to win the Players Championship by one shot from American Jim Furyk in Ponte Vedra, Florida on Sunday.

McIlroy overcame an early double-bogey to card two-under-par 70 in a testing breeze at TPC Sawgrass.

A tap-in birdie at the par-five 16th gave him the lead and he parred the final two holes to finish at 16-under 272.

(Reporting by Andrew Both in Cary, North Carolina; Editing by Ken Ferris)

Source: OANN

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China, Italy looking to strengthen trade, infrastructure ties: Xi

Chinese President Xi Jinping visits Italy
Chinese President Xi Jinping shakes hands with Italian President Sergio Mattarella, at the Quirinal Palace, in Rome, Italy, March 22, 2019. Alessandra Tarantino/Pool via REUTERS

March 22, 2019

ROME (Reuters) – Italy and China want to deepen their trade and investment ties, boosting infrastructure and maritime links, Chinese President Xi Jinping said on Friday following talks with Italian President Sergio Mattarella.

Xi is set to sign a deal on Saturday that will see Italy become the first Group of Seven major industrialized nations to join China’s giant “Belt and Road” infrastructure project inspired by the ancient Silk Road trade routes.

“We want to strengthen the synergies between our respective development strategies to enhance cooperation in the infrastructure, port, logistics and maritime transport sectors in order to build a series of concrete projects along the Silk Road,” Xi said, speaking through a translator.

(Reporting by Crispian Balmer and Giselda Vagnoni; Editing by Philip Pullella)

Source: OANN

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Trump highlights decades-long feud with Nadler: ‘Some things never end’

President Trump said Tuesday that "some things never end" as he highlighted his decades-long feud with House Judiciary Committee Chairman Jerry Nadler, following a report revealing details of a 1980s real estate deal that started their bad blood.

“Congressman Jerry Nadler fought me for years on a very large development I built on the West Side of Manhattan. He wanted a Rail Yard built underneath the development or even better, to stop the job. He didn’t get either & the development became VERY successful,” Trump tweeted Tuesday.

DEMS RAMP UP ANTI-TRUMP PROBES POST-MUELLER, DESPITE PLEDGE TO FOCUS ON AGENDA

“Nevertheless, I got along very well with Jerry during the zoning and building process. Then I changed course (slightly), became President, and now I am dealing with Congressman Nadler again. Some things never end, but hopefully it will all go well for everyone. Only time will tell!” he added.

The president’s tweets come after The Washington Post reported on the history of their feud. The Post reported that it began in 1985, when Nadler was a New York State assemblyman. The Post reported that Trump, at the time, purchased property in Nadler’s district and wanted to build a development, which he reportedly wanted to call “Television City.” But Nadler wanted the property, which was a former railroad yard, to be upgraded instead. Nadler reportedly blocked Trump from public funds and mortgage insurance.

Trump ultimately began construction on the property and worked to develop residential buildings, but in 2005, after construction delays and pushback from lawmakers, Trump reportedly sold the property for $1.8 billion.

After Trump was elected president in 2016, residents of the apartments on that property voted to remove the name, Trump Place, from the buildings.

JUDICIARY COMMITTEE CHAIRMAN NADLER ACCUSED OF HYPOCRISY ON MUELLER REPORT

Fast-forward to 2019, and Nadler’s committee is leading several Trump-related inquiries. Last month, Nadler sent document requests to 81 individuals and entities connected to the president and his business dealings.

Nadler, D-N.Y., imposed a deadline last month for responses to be submitted, but at the time, only a fraction had responded.

Nadler’s panel is also leading the charge in demanding that Attorney General Bill Barr release Special Counsel Robert Mueller's Russia report in an unredacted format to the committee.

At this point, Barr has said that he will share the report with Congress by mid-April, but that the more than 400-page report is under review at the Justice Department with the help of Mueller and his team. Barr said that they are “well along in the process of identifying and redacting” sensitive material in the report before turning it over to Congress.

According to Barr’s summary of the report, the special counsel found no evidence of collusion between members of the Trump campaign and Russia during the 2016 presidential election.

The special counsel also reviewed whether the president had obstructed justice in any way, but ultimately did not come to a conclusion on that issue. Barr and Deputy Attorney General Rod Rosenstein, though, said the evidence was “not sufficient to establish that the President committed an obstruction-of-justice offense.”

Source: Fox News Politics

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White House Statement Hits Democratic Candidates on Israel

The White House is claiming the entire slate of Democratic presidential candidates has failed to adequately condemn anti-Semitism and consistently rejected the need to protect Israel.

The sweeping statement issued Saturday by White House spokesman Hogan Gidley comes after Democratic presidential candidate Beto O'Rourke compared the rhetoric used by President Donald Trump to describe immigrants to the rhetoric used in Nazi Germany.

O'Rourke made the comments during multiple campaign stops in Iowa on Thursday. The White House did not respond to a request for comment at the time.

Instead of directly addressing O'Rourke's comments, the statement from Gidley sought to attack the Democratic party on the same day that Trump is scheduled to speak at the annual meeting of the Republican Jewish Coalition in Las Vegas.

Source: NewsMax Politics

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Iran will not rule out possibility of military conflict with Israel

Munich Security Conference
FILE PHOTO: Iran's Foreign Minister Mohammad Javad Zarif speaks during the annual Munich Security Conference in Munich, Germany February 17, 2019. REUTERS/Andreas Gebert

February 20, 2019

BERLIN (Reuters) – Iran’s Foreign Minister Mohammed Javad Zarif accused Israel of engaging in “adventurism” with its bombing campaigns in Syria and said he could not rule out the possibility of a military conflict between the countries.

Zarif told the Sueddeutsche Zeitung newspaper that Iran was in Syria at the invitation of the Syrian government, while Israel was violating Lebanese and Syrian air space, as well as international law.

“There is adventurism on Israel’s side, and adventurism is always dangerous,” Zarif told the newspaper in an interview to be published on Thursday.

Asked if he saw an emerging military conflict between Iran and Israel, Zarif said, “I do not, but we cannot exclude the possibility.”

Israeli Prime Minister Benjamin Netanyahu has said that Israel has carried out hundreds of attacks in Syria over the past several years and will ramp up its fight following the planned withdrawal of U.S. troops from the country.

Israel is trying to counter the influence carved out in Syria by Iran, which has supported Syrian President Bashar al-Assad in the war that erupted in 2011. It said Tehran’s actions are the main destabilizing factor in the Middle East.

Zarif, speaking at the Munich Security Conference on Sunday, accused Israel of looking for war and warned that its actions and those of the United States were increasing the chances of a clash in the region.

(Reporting by Andrea Shalal; Editing by Susan Thomas)

Source: OANN

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U.S. heavy equipment makers feeling pain from tariffs, disputes: report

Caterpillar equipment at a retail site in San Diego California
FILE PHOTO: Caterpillar Inc. equipment is on display for sale at a retail site in San Diego, California, U.S., March 3, 2017. REUTERS/Mike Blake

March 18, 2019

By Timothy Aeppel

(Reuters) – U.S. makers of bulldozers and other heavy equipment are raising prices, losing sales and in some cases beginning to trim workers in response to the Trump administration’s protracted trade disputes with various countries, according to a new report.

Advocates of tariffs point to continued job growth and low overall inflation as proof that tariffs are not harming these manufacturers, which include global producers such as Caterpillar Inc, Alamo Group Inc and Terex Corp.

But an economic analysis conducted on behalf the Association of Equipment Manufacturers and set to be released on Monday by IHS Markit, notes that increased costs and the disruption of supply chains will slowly filter through the overall economy, gradually raising prices for finished goods and curbing employment over the next decade.

Scott Hazelton, a co-author of the report, said tariffs will increase the cost of producing off-road equipment in the U.S. between 6 percent to 7 percent over the period.

Caterpillar, a key component of the Dow, has said tariffs cost the company $100 million last year.

The study notes heavy equipment makers are particularly exposed to higher steel prices. Accounting for all steel used – both directly by these manufacturers and the parts they buy from others – the material represents 18.5 percent of the cost of a farm machine and 25.8 percent for mining machines.

“If you’re a domestic producer, you’re caught between eating a cost increase or raising prices and potentially losing business,” Hazelton said.

Gradall Industries Inc is among those getting hit at both ends of their business. The company, a subsidiary of Alamo Group Inc, has seen the price of massive metal castings it imports from China go up by 25 percent due to tariffs, for instance, on top of higher domestic steel prices.

Mike Haberman, president of Gradall, said they raised prices twice last year in response to higher-cost imports and steel.

Meanwhile, “our exports to China are down 30 to 40 percent,” said Haberman, due to retaliatory tariffs China slapped on imports of Gradall’s machines and the economic slowdown in that country.

The Section 232 tariffs imposed by Washington hit most foreign suppliers of metals, which have prompted retaliatory duties from many of those countries.

Haberman said he has not shed workers yet, but stopped hiring last year.

Other companies, however, are beginning to eye job cuts.

John Garrison, chief executive of Terex, said he plans to start reducing headcount in one of his business lines this year, but declined to specify which sector or the number of jobs that might be cut.

The company has three segments – aerial work platforms, cranes and material processing machines.

“I can’t say that it’s all due to tariffs, but the economic uncertainty caused by the trade situation isn’t helping,” Garrison said.

(Reporting by Timothy Aeppel; editing by Joe White and G Crosse)

Source: OANN

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Plenty of politics at play in Venezuela-Catalonia friendly

There will be lots of politics to talk about when Venezuela takes on a Catalonia squad in a friendly soccer game in Spain on Monday.

Venezuela has a coach who offered his resignation over the alleged political use of his national team, while Catalonia — the region in the middle of an independence dispute with Spain — will be missing players because some non-Catalan teams didn't release them.

Venezuela is coming off a convincing 3-1 win over Lionel Messi's Argentina on Friday, but what attracted most of the attention after the friendly was an announcement by Venezuela coach Rafael Dudamel. He offered his resignation because he was not happy with the politicization of a pre-game visit by a representative of Juan Guaido, the man challenging Nicolas Maduro's claim to the presidency in Venezuela.

Dudamel and the rest of the squad had welcomed the visit but the coach apparently did not like that images were later released to the public.

"Regrettably, they politicized the visit," Dudamel said. "The agreement was that if there was any image or video, it would have been used internally only. But they politicized the visit, and we can't allow that to happen. It was regrettable how they used it."

Venezuela is in the middle of a power struggle since Maduro's re-election last year was deemed illegitimate by several governments.

Dudamel said he will remain in charge of the squad on Monday, but his future will depend on talks with Venezuelan soccer federation officials in the coming days.

Catalonia has also undergone political turmoil, peaking recently in 2017 with an independence referendum not recognized by Madrid. The issue divided Spain at the time and remains a hot topic politically.

Although the region is not independent, Catalonia has often put together squads to play in friendly matches against other nations.

Among the Catalan players expected to play on Monday are veterans Gerard Pique and Xavi Hernandez. Both have retired from the Spanish national team and are off-duty with their clubs because of the international break.

Hernandez, a 39-year-old midfielder, currently plays in Qatar. The 32-year-old Pique, still a starter with Barcelona, decided to stop playing with Spain's national team after the 2018 World Cup in Russia.

But other players initially selected for the squad were not released by their clubs, who said their decisions were not related to politics.

Valladolid, which is fighting relegation from the top tier of the Spanish league, was the first team to keep its players from taking part in Monday's match, and Rayo Vallecano and Huesca — also threatened by relegation — later followed suit.

"We understand the reasons why these clubs are not going to let their players play," Catalonia coach Gerard Lopez said.

The match will be played in Girona, a Catalan city about 100 kilometers (60 miles) from Barcelona.

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More AP soccer: https://apnews.com/apf-Soccer and https://twitter.com/AP_Sports

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Tales Azzoni on Twitter: http://twitter.com/tazzoni

Source: Fox News World

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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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