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Michael Avenatti like a ‘Disney villain,’ former federal prosecutor says

As legal troubles mount for high-profile attorney Michael Avenatti, a former federal prosecutor Monday compared him to a "Disney villain" and said Avenatti may have found a fight that's too big, even for him.

Avenatti is accused of embezzling almost $2 million from the former girlfriend of Hassan Whiteside, a center for the NBA's Miami Heat.

Avenatti negotiated a $3 million deal for Alexis Gardner, 27.

MICHAEL AVENATTI ACCUSED OF TRYING TO EXTORT NIKE FOR $25 MILLION

Hassan then wired $2.75 million to a trust account set up by Avenatti in January 2017 according to bank records and an Apr. 10 indictment by a California-based grand jury, the Washington Examiner reported.

Avenatti was to receive $1 million in legal fees but allegedly funneled $2.5 million of the wired payment toward purchasing a private jet.

"Federal prosecutors don't get the papers wrong. If she got $2 million, she will know about it. Easy to trace. These cases are difficult to argue your way out of. He likes to fight. He may have found a fight that's too big for him," former federal prosecutor Alex Little said on "Shepard Smith Reporting."

Shepard Smith asked Little about a possible motivation for committing such a crime.

"This is about greed. Most of these crimes are about greed or addiction.  We don't know anything about whether or not he's got some addiction. But if you don't have that, you kind of point to, this is the guy that wanted to spend a lot of money," Little said.

He also said Avenatti "was trying to bring in money. When there wasn't enough, he cut corners and stole it."

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Avenatti, the former attorney for adult-film star Stormy Daniels, is facing up to 335 years in prison after he was slapped with three dozen federal charges earlier this month alleging he stole millions of dollars from his clients, failed to pay taxes and lied in bankruptcy cases, among other accusations by a Southern California grand jury.

Last month in New York, Avenatti was arrested for allegedly trying to shake down Nike for up to $25 million.

Fox News' Greg Norman contributed to this report.

Source: Fox News National

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EU copyright reforms pit creative industry against internet activists, consumers

Demonstration against the planned EU copyright reform in Berlin
FILE PHOTO: People protest against the planned EU copyright reform in Berlin, Germany March 23, 2019. REUTERS/Hannibal Hanschke

March 25, 2019

By Foo Yun Chee

BRUSSELS (Reuters) – Europe’s creative industries are urging EU lawmakers to back a proposed overhaul of the bloc’s copyright rules, putting them at odds with internet activists who oppose a requirement to install filters to block copyright material.

The European Commission wants to reform copyright rules to protect Europe’s cultural heritage and ensure fair compensation to publishers, broadcasters and artistes. The European Parliament is due to vote on the Commission’s proposal on Tuesday.

More than a thousand artists have signed an online petition calling on EU lawmakers to endorse the overhaul while others have ran op-eds in newspapers in support of the changes, lobbying group Impala said in a statement.

Artists in favor of the proposed changes include film producers Pedro Almodovar and Michel Hazanavicius, Benny Andersson from Abba and author Ali Smith, as well as independent music labels.

A vote in favor by the European Parliament would pave the way for the reforms to become law.

Google, internet activists and European technology start-ups, however, oppose the overhaul and were joined on Monday by consumer lobbying body BEUC.

A requirement for Google’s YouTube, Facebook’s Instagram and other sharing platforms to install filters to catch copyright violations known as Article 13, but now renumbered to Article 17, has triggered protests, with an online petition www.savetheinternet.info garnering more than 5 million signatures so far.

Google senior vice-president for global affairs Kent Walker has said the article could prompt online platforms to over-block content to limit legal risks.

Critics also say filters are costly and could lead to erroneous blocking.

Publishers, artistes and actors had also originally been vocal critics of the Commission’s proposal to rewrite the copyright rules but reversed their position after successfully lobbying for Google to pay them for using their work online.

BEUC said it opposed the copyright reforms, arguing that consumers may not be able to share pictures and holiday videos with background music if automated filtering becomes the norm.

“This is not the modernized copyright law that creators and consumers need, but rather another attempt to protect an industry that has consistently resisted to deal with the impact of technological change on their business model,” BEUC’s Director General Monique Goyens said in a statement.

The European Parliament’s approval is the final step in a process which the European Commission kicked off two years ago.

(Reporting by Foo Yun Chee; Editing by Susan Fenton)

Source: OANN

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Battle leaving Syracuse to pursue pro dreams

NCAA Basketball: NCAA Tournament-First Round-Baylor vs Syracuse
Mar 21, 2019; Salt Lake City, UT, USA; Syracuse Orange guard Tyus Battle (25) dunks the ball against the Baylor Bears during the second half in the first round of the 2019 NCAA Tournament at Vivint Smart Home Arena. Mandatory Credit: Gary A. Vasquez-USA TODAY Sports

March 29, 2019

After flirting with the NBA last year, Tyus Battle stuck around for his junior season at Syracuse.

This time around, Battle says it’s time to move on as he thanked fans in a farewell letter on Friday.

“I have made the decision to embark on the next chapter of my life to pursue a professional basketball career. I am confident that I am ready because of you,” the letter reads, in part.

Battle, who averaged 17.2 points per game this season, has been Syracuse’s leading scorer the past two seasons.

The Orange were eliminated by Baylor in the first round of the NCAA Tournament, with the junior guard scoring 16 points in the 78-69 loss.

–Field Level Media

Source: OANN

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European shares fall as trade optimism cools; FTSE lags on strong pound

The German share price index DAX graph at the stock exchange in Frankfurt
The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, February 22, 2019. REUTERS/Staff

February 26, 2019

LONDON (Reuters) – European shares were firmly in the red on Tuesday as the optimism about U.S.-China trade talks that swept stocks to fresh October highs cooled, with London’s FTSE 100 lagging the broader markets as the sterling rallied.

The pan-European STOXX 600 was down 0.2 percent by 0842 GMT, in line with France’s CAC 40 and Germany’s trade-sensitive DAX. The index closed at its highest level since Oct. 9 on Monday.

The FTSE 100 was down 0.7 percent as sterling rallied to one-month highs after reports that Prime Minister Theresa May is considering delaying the March 29 deadline for the country’s exit from the European Union. An announcement could come as soon as Tuesday.

The blue-chips hit their lowest since Feb. 11 in early deals. With the majority of its companies’ income coming from abroad, the FTSE 100 is often pressured by a stronger pound.

Broader enthusiasm over trade talks cooled. Even though U.S. President Donald Trump said he would delay a tariff hike on $200 billion of Chinese imports in the clearest sign yet that both sides were making progress, he also said a deal had not yet been sealed and there was still a lack of detail on what emerged from the Washington talks.

Among individual moves, Denmark’s Jyske Bank was the biggest faller on the STOXX 600 after its results, while Peugeot owner PSA was on track for its worst day since December as investors locked in profits after the French carmaker’s record results. Slightly weaker-than-expected sales also weighed.

Shares in IAG, which owns British Airways and Iberian Airlines, were down 3.7 percent in London and the biggest decliner on Madrid’s IBEX after index provider MSCI said it plans to delete the stock from its Spain index.

(Reporting by Josephine Mason, Editing by Helen Reid)

Source: OANN

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Jeff Bezos to retain 75 percent of couple’s Amazon stake after divorce

FILE PHOTO: 89th Academy Awards - Oscars Vanity Fair Party
FILE PHOTO: 89th Academy Awards - Oscars Vanity Fair Party - Beverly Hills, California, U.S. - 26/02/17 – Amazon's Jeff Bezos and his wife MacKenzie Bezos. REUTERS/Danny Moloshok/File Photo

April 4, 2019

(Reuters) – MacKenzie Bezos, ex-wife of Amazon.com Inc founder and Chief Executive Officer Jeff Bezos, will give 75 percent of their stake in the company and all voting rights to the billionaire entrepreneur.

MacKenzie Bezos will also relinquish all her interests in the Washington Post newspaper and rocket company Blue Origin, she said in a tweet https://twitter.com/mackenziebezos/status/1113851260040503296 on Thursday.

(Reporting by Arjun Panchadar in Bengaluru; Editing by Anil D’Silva)

Source: OANN

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Credit Suisse names Sommerhalder to lead Asia trading solutions business

The Credit Suisse logo is pictured on a bank in Geneva
The Credit Suisse logo is pictured on a bank in Geneva, Switzerland, October 17, 2017. REUTERS/Denis Balibouse

April 11, 2019

HONG KONG (Reuters) – Credit Suisse Group AG on Thursday named veteran banker Yves-Alain Sommerhalder as head of its newly-created Asia Pacific trading solutions business, which seeks to use market expertise to sell products to wealth management clients.

The launch of Asia trading solutions comes nearly two years after Credit Suisse set up international trading solutions that brings in elements of the bank’s markets activities as well as its international wealth management and Swiss banking arms.

As Asia trading solutions unit head, Sommerhalder, who will retain his role as co-head of international trading solutions, will oversee the Asia Pacific markets business and the regional financing group activities, Credit Suisse said in a statement.

Credit Suisse’s markets business was profitable in 2018 on an adjusted basis, and is expected to break-even in the first quarter despite “very challenging market conditions,” it said, citing estimates and management expectations.

The bank is due to report its first quarter results on April 24.

Sommerhalder, who joined the Swiss bank in 2002, has worked previously in senior positions in the bank’s sales and trading businesses. He is a member of the management committee for the global markets and international wealth management units.

(Reporting by Sumeet Chatterjee; Editing by Rashmi Aich)

Source: OANN

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Ford to launch more than 30 new models in China over next three years

Chen Anning, CEO of Ford China, talks to reporters at an event in Shanghai
Chen Anning, Chief Executive Officer of Ford China, talks to reporters at an event in Shanghai, China April 3, 2019. REUTERS/Yilei Sun

April 3, 2019

By Yilei Sun and Norihiko Shirouzu

SHANGHAI/BEIJING (Reuters) – Ford Motor plans to launch more than 30 new models in China over the next three years of which over a third will be electric vehicles, the U.S. automaker said on Wednesday, as it seeks to reverse slumping sales in the world’s top auto market.

Ford had said previously it would launch 50 new or significantly redesigned vehicles in China starting in 2018 and through 2025, and Wednesday’s announcement provides more clarity on the timeline.

Its China operations chief Anning Chen said the automaker is committing itself to improving its relationships with Chinese joint-venture partners and localizing its management teams by hiring and promoting more Chinese nationals and global talent with Chinese expertise, among other initiatives.

The new plans are intended to “enable us to gain the momentum to break through” in the marketplace, Chen told a small group of reporters.

Ford has been struggling to revive sales in China, the second biggest market globally for the Dearborn, Michigan automaker, after its business began slumping in late 2017. Sales slumped 37 percent in 2018, after a 6 percent decline in 2017.

Ford has said its sales crisis stemmed mainly from a lack of new products. Industry experts also ascribe the company’s China trouble to the Sino-U.S. trade war and its rocky relationship with domestic partners Changan Automobile Group and Jiangling Motors Group.

(Reporting by Yilei Sun in Shanghai and Norihiko Shirouzu in Beijing; Editing by Muralikumar Anantharaman)

Source: OANN

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Joe Biden’s brain surgeon said his former patient is “totally in the clear” as speculation over the candidate’s health — with Biden possibly becoming the oldest president in U.S. history — is likely to become a campaign issue.

The former vice president, who had been perceived by many as the strongest potential contender for the Democratic Party’s 2020 presidential nomination, formally announced his candidacy Thursday.

But Biden’s age – 76 – is expected to become a source of attacks from a younger generation of Democrats not because of obvious generational differences, but possibly for actual health concerns if Biden gets into office.

WHY THE MEDIA ARE CONVINCED JOE BIDEN WILL IMPLODE

Biden himself agreed last year that “it’s totally legitimate” for people to ask questions about his health if he decides to run for president, given his medical history — which has included brain surgery in 1988.

“I think they’re gonna judge me on my vitality,” Biden told “CBS This Morning.” “Can I still run up the steps of Air Force Two? Am I still in good shape? Am I – do I have all my faculties? Am I energetic? I think it’s totally legitimate people ask those questions.”

“I think they’re gonna judge me on my vitality. …  I think it’s totally legitimate [that] people ask those questions.”

— Joe Biden

But Dr. Neal Kassell, the neurosurgeon who operated on Biden for an aneurysm three decades ago, told the Washington Examiner that Biden appears to be “totally in the clear” — and even joked that the operation made Biden “better than how he was.”

“Joe Biden of all of the politicians in Washington is the only one that I’m certain has a brain, because I have seen it,” Kassell said. “That’s more than I can say about all the other candidates or the incumbents.”

“Joe Biden of all of the politicians in Washington is the only one that I’m certain has a brain, because I have seen it.”

— Dr. Neal Kassell

BIDEN’S CLAIM HE DIDN’T WANT OBAMA TO ENDORSE TRIGGERS MOCKERY

At the same time, however, Biden hasn’t been forthcoming about his health at least since 2008 when he released his medical records as a vice presidential candidate. The disclosure that time revealed some fairly minor issues such as an irregular heartbeat in addition to detailing previous operations, including removing a benign polyp during a colonoscopy in 1996, the outlet reported.

It remains unclear if Biden had more aneurysms. Some medical experts say that people who have had an aneurysm can have another one.

An aneurysm, or a weakening of an artery wall, can lead to a rupture and internal bleeding, potentially placing a patient’s life in jeopardy.

Biden won’t be the only Democrat grappling with old age. Sen. Bernie Sanders, another 2020 frontrunner, is currently 77 years old and agreed with Biden last year that their ages will be an issue in the race.

“It’s part of a discussion, but it has to be part of an overall view of what somebody is and what somebody has accomplished,” Sanders told Politico.

“Look, you’ve got people who are 50 years of age who are not well, right? You’ve got people who are 90 years of age who are going to work every day, doing excellent work. And obviously, age is a factor. But it depends on the overall health and wellbeing of the individual.”

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Sanders released his medical records in 2016, with a Senate physician saying in a letter that the senator was “in overall very good health.”

Source: Fox News Politics

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Cambodian authorities have ordered a one-hour reduction in the length of school days because of concerns that students and teachers may fall ill from a prolonged heat wave.

Education Minister Hang Chuon Naron said in an announcement seen Friday that the shortened hours will remain in effect until the rainy season starts, which usually occurs in May. The current heat wave, in which temperatures are regularly reaching as high as 41 Celsius (106 Fahrenheit), is one of the longest in memory.

Most schools in Cambodia lack air conditioning, prompting concern that temperatures inside classrooms could rise to unhealthy levels.

School authorities were instructed to watch for symptoms of heat stroke and urge pupils to drink more water.

The new hours cut 30 minutes off the beginning of the school day and 30 minutes off the end.

School authorities instituted a similar measure in 2016.

Source: Fox News World

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Explosions have rocked Britain’s largest steel plant, injuring two people and shaking nearby homes.

South Wales Police say the incident at the Tata Steel plant in Port Talbot was reported at about 3:35 a.m. Friday (22:35 EDT Thursday). The explosions touched off small fires, which are under control. Two workers suffered minor injuries and all staff members have been accounted for.

Police say early indications are that the explosions were caused by a train used to carry molten metal into the plant. Tata Steel says its personnel are working with emergency services at the scene.

Local lawmaker Stephen Kinnock says the incident raises concerns about safety.

He tweeted: “It could have been a lot worse … @TataSteelEurope must conduct a full review, to improve safety.”

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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At least one person is reported dead and homes have been destroyed by a powerful cyclone that struck northern Mozambique and continues to dump rain on the region, with the United Nations warning of “massive flooding.”

Cyclone Kenneth arrived just six weeks after Cyclone Idai tore into central Mozambique, killing more than 600 people and displacing scores of thousands. The U.N. says this is the first time in known history that the southern African nation has been hit by two cyclones in one season.

Forecasters say the new cyclone made landfall Thursday night in a part of Mozambique that has not seen such a storm in at least 60 years.

Mozambique’s local emergency operations center says a woman in the city of Pemba was killed by a falling tree.

Source: Fox News World

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