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Admissions scandal is latest example of ‘elites’ betraying US institutions: Matthew Continetti

The scandal that’s rocking the higher education system is really about questioning the legitimacy of “elites” in this country, Washington Free Beacon editor-in-chief Matthew Continetti argued Tuesday.

Earlier in the day, law enforcement officials announced that 50 individuals had been indicted as part of a nationwide scheme involving wealthy parents committing fraud in order to get their children into prestigious universities. Among those indicted were TV actresses Felicity Huffman and Lori Loughlin.

During Tuesday's "Special Report" All-Star panel, Continetti -- along with Federalist senior editor Mollie Hemingway and Reuters White House correspondent Jeff Mason -- weighed in on the massive controversy.

CLICK HERE TO VIEW THE FULL SHOW

Continetti began by insisting that “elites” of all stripes “bend the rules in their favor” by using their money and connections.

“This scandal just shows another sphere of American life where elites have betrayed our country’s institutions and indeed, our country’s people,” Continetti said.

“This scandal just shows another sphere of American life where elites have betrayed our country’s institutions and indeed, our country’s people.”

— Matthew Continetti, Washington Free Beacon editor-in-chief

He explained that the suspects may have gone to great lengths such as bribery to get their kids enrolled in top universities because a degree from such institutions can earn graduates “exponentially” higher salaries.

“We need to think about how our economy is structured so that this wage premium isn’t so slanted toward college degree holders,” Continetti added.

Hemingway called the allegations “stunning,” but predicted that the scandal “will lead to major changes” in how college admissions are operated similarly to how other industries have been reformed in recent years.

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Meanwhile, Mason called the controversy “very sad” because of the “lesson” the parents were allegedly teaching to their children.

“They’re teaching their children that it’s OK to lie and that it’s OK to cheat. And it’s incredibly sad,” Mason told the panel.

Source: Fox News Politics

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EU commissioner Vestager running for bloc's top posts

The EU's competition commissioner says she is one of seven candidates from the European Parliament's liberal, pro-business ALDE faction running for top posts within the European Union this year.

Margrethe Vestager, whose term ends in October, told Denmark's Politiken newspaper on Thursday that she was "part of the team." She did not name the other ALDE candidates.

A former Danish deputy prime minister and economy minister, Vestager has since 2014 been the EU's competition chief, making headlines by repeatedly slapping major tech companies — most recently Google — with big penalties and fines.

The top posts up for election in May include the presidencies of the European Commission, European Council, European Parliament and the European Central Bank, as well as the post of EU foreign affairs chief.

Source: Fox News World

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Singapore February inflation to pick up slightly vs. prior month: Reuters poll

A woman pushes a shopping cart at a supermarket in Singapore
A woman pushes a shopping cart at a supermarket in Singapore May 3, 2016. REUTERS/Edgar Su

March 22, 2019

SINGAPORE (Reuters) – Singapore’s annual headline inflation rate is expected to have risen 0.5 percent in February, according to a Reuters poll, quickening slightly compared with the previous month.

The annual all-items inflation rate was 0.4 percent in January.

A deflation in transport costs may have eased in February as both oil prices and vehicle quota premiums were higher on a month-on-month basis, said Jonathan Koh, an economist with Standard Chartered. Food prices could also rise due to festive spending during the Lunar New Year.

The poll of 11 economists also forecast the Monetary Authority of Singapore’s (MAS) annual core inflation measure increased 1.7 percent in February, unchanged from the previous month.

The central bank’s core inflation measure excludes changes in the prices of cars and accommodation, which are more heavily influenced by government policies.

Last month, Singapore cut its 2019 headline inflation forecast to 0.5-1.5 percent from 1-2 percent, citing an expected decline in global oil prices this year.

However, the core inflation forecast – a closely-watched indicator for monetary policy – was kept unchanged at 1.5-2.5 percent.

Singapore’s central bank is due to make the first of its semi-annual policy announcements next month.

(Reporting by Aradhana Aravindan and John Geddie; Editing by Gopakumar Warrier)

Source: OANN

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Homeland Security Secretary Nielsen resigns

President Donald Trump says Homeland Security Secretary Kirstjen Nielsen is leaving her job amid growing frustration by the administration over the number of southern border crossings.

Trump said in a tweet on Sunday that U.S. Customs and Border Protection Commissioner Kevin McAleenan will become the acting head of the sprawling department of 240,000 people. McAleenan is a longtime border officer, reflecting Trump's priority for the department initially founded to combat terrorism after the Sept. 11 attacks.

Two people familiar with the matter said Nielsen went to the White House to speak with Trump on Sunday following their trip to the border. The people say she has long been frustrated by the difficulty getting other departments to help with the growing number of families coming crossing the border.

Source: Fox News National

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Kershaw’s Opening Day streak ending at eight

FILE PHOTO: MLB: Los Angeles Dodgers-Workouts
FILE PHOTO: Feb 15, 2019; Glendale, AZ, USA; Los Angeles Dodgers starting pitcher Clayton Kershaw (22) looks on during a spring training workout at the Camelback Ranch practice fields. Mandatory Credit: Joe Camporeale-USA TODAY Sports - 12167057

March 18, 2019

For the first time since 2010, Clayton Kershaw won’t be the Opening Day starter for the Los Angeles Dodgers.

The left-handed Kershaw was ruled out of the March 28 opener against the Arizona Diamondbacks on Monday due to the persistent shoulder inflammation he has dealt with all spring. He has yet to pitch in a spring training game.

“Talking to Clayton and, obviously, looking at the schedule, he’s not going to start Opening Day,” Roberts told reporters. “To build him up and when he’s ready to pitch for us is when he’s going to pitch for us. He’s supportive and he understands he wants to put himself in the best position to help himself and the ballclub.

“When’s he’s built up to where he feels he can help us, then it’s moot. We’re all on the same page.”

Kershaw has started a club-record eight straight openers. The last Opening Day starter for the Dodgers not named Kershaw was Vicente Padilla in 2010.

Roberts said it was unlikely Kershaw will begin the season on the active roster.

Kershaw last pitched Sunday when he threw a bullpen session. He is scheduled to throw batting practice on Wednesday.

Roberts didn’t announce an Opening Day starter on Monday, but right-hander Walker Buehler is definitely in the mix.

However, Buehler also hasn’t pitched this spring due to his own shoulder issues. He is scheduled to pitch three innings on Tuesday.

Kershaw, who turns 31 on Tuesday, has pitched nearly 2,100 innings and struck out 2,275 batters in his decorated 11-year career. He is 153-69 overall with a 2.39 ERA and has won three National League Cy Young Awards.

Kershaw was 9-5 last season with a 2.73 ERA in 26 starts but has experienced back issues in each of the past three seasons. He has guided the Dodgers to two consecutive appearances in the World Series.

Buehler, 24, went 8-5 with a 2.62 ERA in 24 appearances (23 starts) last season while finishing third in NL Rookie of the Year balloting.

Veteran left-hander Rich Hill also is a candidate to start the opener. The 39-year-old Hill was 11-5 with a 3.66 ERA in 25 appearances (24 starts) last season.

–Field Level Media

Source: OANN

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Paris given NBA regular-season game in 2020

NBA: San Antonio Spurs at Charlotte Hornets
Mar 26, 2019; Charlotte, NC, USA; Charlotte Hornets center Willy Hernangomez (41) is fouled by San Antonio Spurs forward LaMarcus Aldridge (12) during the second half at the Spectrum Center. The Hornets won in overtime 125-116. Mandatory Credit: Sam Sharpe-USA TODAY Sports

March 28, 2019

LONDON (Reuters) – Paris will stage its first regular-season NBA game next January when Charlotte Hornets face Milwaukee Bucks, organizers confirmed on Thursday.

The announcement looks almost certain to end London’s nine-year run as host city for the NBA’s European game — the most recent of which was in January when New York Knicks lost to the Washington Wizards in front of a sell-out O2 Arena crowd.

All 19,000 tickets for that game were snapped up in an hour, with fans from 39 nations attending.

The Paris match, which will be 10 years after the last NBA pre-season game was staged there, will take place at the revamped AccorHotels Arena in Bercy on Jan. 24.

Berlin had also been a option.

“Our NBA Paris Game will showcase the continued global growth of basketball in one of the world’s greatest cities,” NBA Commissioner Adam Silver said in a statement.

“With France leading a record number of players from Europe in the league, we look forward to bringing together basketball fans from across the continent for the NBA’s first regular-season game in Paris.”

The NBA has a large following in France with the opening-night rosters for the 2018-19 featuring nine French players, more than any European country for the 12th consecutive season.

Paris has hosted nine pre-season NBA games, one of which featured the Hornets against the Golden State Warriors in 1994.

The Hornets have two French players on their roster — four-time NBA champion Tony Parker, and Nicolas Batum.

The Bucks will be playing their first game in France, although they played a regular-season game in London in 2015.

While it appears bad news for London, the NBA have explored the possibility of more than one regular-season game in Europe.

Speaking in London earlier this year, the NBA’s Deputy Commissioner Mark Tatum told reporters: “It’s been one (regular season game) per year. I definitely think there’s room for more than that. We will have to figure out what that optimum number is, whether that’s two or three.

“I don’t think there’s any potential limit as long as it makes sense from a business standpoint.”

(Reporting by Martyn Herman, editing by Pritha Sarkar)

Source: OANN

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Israel to withhold $138 million in Palestinian funds

Israel says it will withhold over $138 million from the Palestinian Authority for payments given to families of Palestinians who carried out attacks against Israelis.

The government's security Cabinet said Sunday that it was implementing a law passed last year allowing Israel to withhold funds used to pay stipends to Palestinian attackers and their families from taxes Israel collects on the Palestinian Authority's behalf.

Israel says the payments encourage violence — a claim the Palestinians reject.

The freeze comes as the Palestinians face major budget cuts made last year after the United States slashed funding for the U.N.'s Palestinian refugee program UNRWA and for development programs in the Palestinian territories. The U.N.'s World Food Program also cut back services due to funding shortages.

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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