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U.S. top court buttresses company power to arbitrate disputes

FILE PHOTO: The U.S. Supreme Court building is seen in Washington
FILE PHOTO: The U.S. Supreme Court building is seen in Washington, U.S., March 26, 2019. REUTERS/Brendan McDermid/File Photo

April 24, 2019

By Andrew Chung

WASHINGTON – In a decision that could further help companies limit damages in employment disputes, the U.S. Supreme Court on Wednesday ruled against a California man who was the victim of an online scam targeting his employer and sought to bring claims on behalf of a group of workers instead of just himself.

In a 5-4 decision with conservative justices in the majority, the court overturned a lower court ruling that had allowed for the collective arbitration of the workers’ claims. The justices agreed with the man’s employer, lighting retailer Lamps Plus, Inc, which had argued that the arbitration must be conducted on an individual basis only.

(Reporting by Andrew Chung; Editing by Will Dunham)

Source: OANN

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California town destroyed by fire issues 1st rebuild permits

Small signs of rebuilding the California town of Paradise after it was destroyed by wildfire are sprouting this spring, including the issuing of the first permits to rebuild two the 11,000 homes destroyed five months ago.

The city issued the first permit Thursday to Jason and Meagann Buzzard, who said they never intended to leave the town of 27,000 people that was 90 percent destroyed by the Nov. 8 fire that killed 85 people.

On Friday, Colleen Corners said she and her husband picked up their permit to start building on their property.

"We are excited and fortunate," Corners said. "There are still lots of people struggling to just get their insurance straight. There's still a lot to do and lots of patience is required."

Several retail establishments have re-opened and the town is showing signs of life, she said.

"We have a grocery store, hardware store and auto repair shop," she said. "Everything a small town needs."

Still, Corners and others say the rebuilding process has been slow and hampered by hazards and hurdles that include contaminated drinking water in some neighborhoods.

Only one other property owner has been cleared to receive a building permit. Twenty other applications are pending inspections by state environmental officials.

Debris has been removed from an estimated 580 of the 11,000 lots where homes were damaged in the fire.

Officials with the town's water district have said federal and state authorities will deliver 2,500 tanks of clean water for cooking, cleaning and bathing while contaminated pipes are replaced — a process that could take up to three years. Burned cars still line roadways.

Construction crews have fanned out through the city and can be seen and heard clearing lots six days a week, weather permitting.

On Thursday, after the first building permit was issued, Paradise Mayor Jody Jones announced that grants of $3,500 for owners of every damaged property were available to help pay for the permit process. Jones said she hoped the grants would encourage more applications.

"This first building permit is a sign of the resilience and perseverance that our residents have in coming back to Paradise." Jones said. "The ball is rolling."

Source: Fox News National

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Amazon now taking cash at Mexico’s top corner store Oxxo

FILE PHOTO: The logo of Femsa's Oxxo convenience store is pictured at one of its stores in Monterrey
FILE PHOTO: The logo of Femsa's Oxxo convenience store is pictured at one of its stores in Monterrey, Mexico August 26, 2018. REUTERS/Daniel Becerril/File Photo

April 1, 2019

MEXICO CITY (Reuters) – Amazon.com Inc is now accepting cash payments at Mexico’s top corner store chain, Oxxo, the two said on Monday, opening a major channel for the e-commerce leader to reach millions of people in the country who rely heavily on cash.     

Oxxo, owned by Mexican conglomerate Femsa, has nearly 18,000 stores across Mexico, where nearly 60 percent of the population lack bank accounts, posing an obstacle for online shopping.

Amazon in Mexico began accepting cash payments in 2017 at several convenience store chains, including 7-Eleven. The partnership with Oxxo, which already accepts cash for a number of online merchants including Amazon competitor MercadoLibre, will vastly expand the company’s reach.

Under the service, called Amazon Cash, shoppers can deposit between 100 pesos and 5,000 pesos ($5 and $260) per transaction to their Amazon accounts online, with a daily limit of 10,000 pesos. Amazon will reimburse a 12-peso commission charged by Oxxo per transaction, the companies said.

The chain already partners with Amazon on a package pick-up program in some 3,000 Oxxo stores, aimed at serving shoppers who live in areas where home delivery is complicated.

(Reporting by Daina Beth Solomon in Mexico City; Editing by James Dalgleish)

Source: OANN

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Authorities say teen accidentally shot herself at gun club

Authorities say a 15-year-old girl accidentally shot and killed herself at a gun club in Iowa.

Lee County sheriff's officials say deputies and medics were called around 10:40 a.m. Sunday to the Tri-State Gun Club outside Montrose, a community about 80 miles (129 kilometers) south of Iowa City.

The emergency crews found Haley McManus suffering from a gunshot wound. The girl later died at a hospital.

Sheriff Stacy Weber said Monday that Haley was accompanied by her father and that both were target shooting.

Weber's office says the incident is being treated as an accidental self-inflicted gunshot wound. No crime or negligence is suspected.

The teen lived in nearby Fort Madison. Autopsy results are pending.

A phone number listed for the gun club rang unanswered Monday.

Source: Fox News National

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Pilots searched for checklist before Lion Air crash: Indonesian investigators

A worker assists his colleague as an turbine engine of Lion Air flight JT610 is lifted up at Tanjung Priok port in Jakarta
FILE PHOTO: A worker assists his colleague as an turbine engine of Lion Air flight JT610 is lifted up at Tanjung Priok port in Jakarta, Indonesia, November 4, 2018. REUTERS/Beawiharta

March 21, 2019

JAKARTA (Reuters) – Indonesian investigators said on Thursday the cockpit voice recorder from a crashed Lion Air Boeing Co 737 MAX 8 jet showed pilots were searching for the right checklist in their handbooks and were experiencing airspeed and altitude issues.

The details revealed at a press conference corroborated a Reuters report on Wednesday that was based on three sources with knowledge of the cockpit voice recorder’s contents.

Investigators said they have 90 percent of the data needed to release a final report on the October crash that killed 189 people, which is expected in August.

Nurcahyo Utomo, an investigator at Indonesia’s national transportation committee (KNKT) said the recording showed there was “panic” in the cockpit in the last 20 seconds of the flight.

“At the end of the flight it seemed the pilot felt he could no longer recover the flight, then the panic emerged,” he said while declining to say which of the two pilots panicked.

The investigation has taken on new urgency after a second 737 MAX 8 crash at Ethiopian Airlines last week killed 157 people and led to the global grounding of the model.

French air accident investigation agency BEA said on Tuesday the flight data recorder in the Ethiopian crash showed “clear similarities” to the Lion Air disaster.

Investigators examining the Indonesian crash are considering how a computer ordered the plane to dive in response to data from a faulty sensor and whether the pilots had enough training to respond appropriately to the emergency, among other factors.

(Reporting by Cindy Silviana and Bernadette Christina Munthe; writing by Jamie Freed; Editing by Simon Cameron-Moore)

Source: OANN

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Amazon plans to launch satellites to offer broadband internet

FILE PHOTO: Amazon logo is pictured in Mexico City
FILE PHOTO: The logo of the web service Amazon is pictured in this June 8, 2017 illustration photo. REUTERS/Carlos Jasso/Illustration/File Photo

April 4, 2019

(Reuters) – Amazon.com Inc plans to build a network of over 3,000 satellites through a new initiative “Project Kuiper”, an attempt by the e-commerce giant to provide internet access, according to multiple filings made with the International Telecommunication Union last month.

The long-term project will cater to people globally who lack basic access to broadband internet, Amazon said in a statement on Thursday.

Project Kuiper will launch a constellation of low earth orbit satellites that will provide low-latency, high-speed broadband connectivity, the company added.

Amazon’s plans come as Chief Executive Officer Jeff Bezos is racing to pull his private space company Blue Origin out of start-up mode and move into production.

Bezos’ rocket company is among a crop of billionaire-backed space ventures seeking to disrupt the legacy launch services market with reusable rocket technology.

(Reporting by Akanksha Rana in Bengaluru; Editing by Shailesh Kuber)

Source: OANN

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Navy: 1 hurt in domestic shooting at base, shooter killed

Navy officials say a male sailor shot and wounded a female sailor assigned to the same squadron before security personnel at a Virginia base fatally shot him.

Naval Air Station Oceana's commanding officer, Capt. Chad Vincelette, said in a statement that the domestic shooting took place early Friday in a parking lot outside a hangar at Strike Fighter Squadron 37.

Vincelette says the woman was shot several times and is hospitalized with non-life-threatening injuries.

Vincelette says both sailors were assigned to the squadron, but their identities won't be immediately released. He says officials will investigate how the sailor got a weapon onto the base, which has a no-weapons policy, and the motive behind the shooting.

The station is the Navy's master jet base for fighters on the East Coast.

Source: Fox News National

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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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