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Three countries cut Iran oil imports to zero: U.S. envoy

FILE PHOTO: Iranian Material Display at a Military Base in Washington
FILE PHOTO: Brian Hook, U.S. Special Representative for Iran, speaks about potential threats posed by the Iranian regime to the international community, during a news conference at a military base in Washington, U.S., November 29, 2018. REUTERS/Al Drago

April 2, 2019

By Lesley Wroughton and David Brunnstrom

WASHINGTON (Reuters) – Three of eight countries granted waivers by Washington to import oil from Iran have now cut the imports to zero, a U.S. official said on Tuesday, adding that improved global oil market conditions would help reduce Iranian crude exports further.

The United States reimposed sanctions on Iran after President Donald Trump last May withdrew the country from a 2015 nuclear deal between Iran and several world powers, accusing it of supporting terrorism and conflicts in Syria and Yemen.

While the United States has set a goal of completely halting Iran’s oil exports, it granted temporary import waivers to China, India, Greece, Italy, Taiwan, Japan, Turkey and South Korea to ensure low oil prices and no disruption to the global oil market.

The Trump administration is currently in consultations with the countries ahead of a May 2 deadline when the waivers expire.

“In November, we granted eight oil waivers to avoid a spike in the price of oil. I can confirm today three of those importers are now at zero,” Brian Hook, the special U.S. envoy for Iran, told reporters.

Hook did not identify the three countries.

“There are better market conditions for us to accelerate our path to zero,” Hook said. “We are not looking to grant any waivers or exceptions to our sanctions regime.”

Hook said U.S. oil sanctions against Iran removed about 1.5 million barrels of Iranian oil exports off the market since May 2018.

“This has denied the regime access to well over $10 billion in (oil) revenue – a loss of at least $30 million a day,” he said.

Oil prices on Tuesday hit their highest level so far in 2019, with Brent crude approaching $70 a barrel on the prospect that more sanctions against Iran and Venezuelan disruptions could deepen an OPEC-led supply cut.

Analysts believe the administration is likely to extend the waivers to the remaining five countries to placate top buyers China and India and to decrease the chance of higher oil prices.

China, India, Japan, South Korea and Turkey are likely to be given waivers that could cap Iran’s crude oil exports at about 1.1 million barrels per day, U.S.-based analysts at Eurasia Group said in January. That would remove Italy, Greece and Taiwan from the waivers list.

Hook said a decision on whether to extend the waivers would be made “in due course.” A total of 23 countries that once imported Iran oil had cut imports to zero, he added.

“With oil prices actually lower than they were when we announced our sanctions and global production stable, we are on the fast track to zeroing out all purchases of Iranian crude,” Hook said.

A senior Trump administration official told reporters on Monday that the U.S. government was considering additional sanctions against Iran that would target areas of its economy that have not been hit before.

Hook said more than 26 rounds of U.S. sanctions against Iran had restricted the country’s cash flow and constrained its ability to operate in the region.

Earlier on Tuesday, U.S. Secretary of State Mike Pompeo blamed Iran’s government of mismanagement that has led to devastating flooding across the country. At least 47 people have been killed in the past two weeks from flash floods.

(Reporting by Lesley Wroughton and David Brunnstrom; editing by Tom Brown and Rosalba O’Brien)

Source: OANN

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Big corporates back crypto ‘plumbing’ despite currency caution

FILE PHOTO: Bitcoin.com buttons are seen displayed on the floor of the Consensus 2018 blockchain technology conference in New York City
FILE PHOTO: Bitcoin.com buttons are seen displayed on the floor of the Consensus 2018 blockchain technology conference in New York City, New York, U.S., May 16, 2018. REUTERS/Mike Segar

April 18, 2019

By Tom Wilson

LONDON (Reuters) – Major finance and tech firms are pouring money into startups building technology to develop the crypto market, even though they’re steering clear of the volatile currencies themselves.

Venture capital investments in crypto and blockchain startups that included funds from corporates have raced to $850 million so far this year, data compiled by PitchBook for Reuters shows. The 13 deals put the flows on track for a second straight annual record.

Such bets, by companies including London Stock Exchange Group and Microsoft Corp, spiked over five-fold to a record $2.4 billion over 117 investments in 2018. This suggests large companies see promise in the nascent technology, even as it struggles for acceptance.

They have mostly given digital coins, including bitcoin, a wide berth, avoiding direct investment because of worries over tightening regulation, frequent security lapses and high volatility.

The lack of mainstream embrace has sown serious doubts over the potential of cryptocurrencies to evolve from speculative tokens to means of payment capable of rivaling fiat money.

Bitcoin slumped by three-quarters last year after nearing a record of $20,000 in its frenzied 2017 bubble. It’s still prone to wild price moves, underscored by a recent 20 percent jump that caused puzzlement among traders and analysts.

And though blockchain has found some use in sectors such as trade finance, its application has been relatively narrow.

Firms are looking at how, and if, blockchain and related technologies can be used in ways that could spark deeper change, said Richard Hay, UK head of fintech at law firm Linklaters.

“There are two dynamics at play,” he said. “We can get something up and running and achieve cost savings, and also look longer term at ways of deploying the technology in more transformative ways.”

Recent examples include a $20 million investment involving the London Stock Exchange and Banco Santander in a London startup whose platform can be used to issue debt on blockchain, the technology that underpins most digital coins. Graphic: Corporate bets on crypto and blockchain soar png, click https://tmsnrt.rs/2XcNzmw

“BASIC PLUMBING”

The investments span startups from makers of cryptocurrency mining gear and exchanges, the PitchBook data to April 8 shows.

One key driver is a growing expectation that the “tokenisation” of assets from stocks to oil – essentially digitizing them and allowing them to be traded on blockchain – will upend markets, lawyers and consultants working with fintech firms said.

“People are really enamored by tokenisation – the ability to produce coins or other forms of value – so that’s where we see all of the action at the moment,” said Anton Ruddenklau, global co-head of fintech at KPMG.

“They are investing as a technological hedge as much as anything.”

Bets involving corporate venture capital are usually small, the data shows. Deals this year had a median value of $6.5 million, a notch below the $8 million of last year.

Others are much bigger.

Bakkt, a cryptocurrency trading platform founded last year by New York Stock Exchange owner Intercontinental Exchange Inc, raised in December over $180 million from investors including M12, Microsoft’s venture capital arm.

The rush of corporate venture money comes as traditional venture capital (VC) investments also pour into the sector. Last year 617 deals totaled a record $5.6 billion worldwide, the data shows, as venture capitalists assess how the technologies will impact the online economy.

“There is a huge experimentation in effectively the basic plumbing for a native economic layer to the web,” said Jamie Burke, CEO of Outlier Ventures, a fund that has led investment in around eight blockchain-related projects.

But with that experimentation has come examples of failure.

In December, cryptocurrency project Basis said it would shut down and return funds to its backers including Google owner Alphabet’s venture arm GV and Bain Capital Ventures because of concerns over regulation.

Cryptocurrency miners and exchanges make up the four biggest VC-backed firms by valuation, according to the PitchBook data.

Some have struggled amid the slump in bitcoin prices. The $12 billion-valued Bitmain Technologies, for example, last month shelved a planned initial public offering in Hong Kong.

Others have fared better. San Francisco-based exchange Coinbase, valued at $8 billion, saw non-U.S. revenue grow 20 percent last year to 153 million euros ($173 million), a filing to Britain’s corporate registry last week showed.

The exchange’s UK arm, which books the firm’s non-U.S. revenue, accounts for almost a third of the firm’s overall revenue, said Coinbase UK chief executive Zeeshan Feroz.

That suggests, according to Reuters calculations, worldwide revenue of around $520 million last year – a rare glimpse into the financial health of a cryptocurrency exchange.

Coinbase declined to comment.

(Editing by Anna Willard)

Source: OANN

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Seth Moulton, Massachusetts rep and Iraq War vet, jumps into 2020 presidential race

Add Rep. Seth Moulton to the large list of Democrats running for the White House.

The congressman from Massachusetts and Marine veteran who served four tours of duty in Iraq announced his candidacy for president on Monday morning.

BIDEN POISED TO ANNOUNCE 2020 BID

"I'm running because we have to beat Donald Trump, and I want us to beat Donald Trump because I love this country. We've never been a country that gets everything right. But we're a country that, at our best, thinks that we might," the three-term congressman said in a video as he launched his campaign for the Democratic presidential nomination.

Taking a shot at the Republican president, Moulton emphasized that the most important thing needed is "to restore our moral authority in everything we do."

Moulton, 40, was one of the ringleaders of last year’s failed push by some House Democrats to prevent Nancy Pelosi from regaining the speaker’s gavel. Another one of those leaders – Rep. Tim Ryan of Ohio – announced his candidacy for president earlier this month.

Moulton becomes the third candidate from Massachusetts to launch a presidential campaign, joining Democratic Sen. Elizabeth Warren and former Republican Gov. Bill Weld, who’s primary challenging Trump.

BUTTIGIEG DRAWS PARALLELS BETWEEN TRUMP AND BERNIE SUPPORTERS

Moulton’s scheduled to visit all four early voting primary and caucus states this week. He heads to New Hampshire on Tuesday and Wednesday morning, when he’ll headline ‘Politics and Eggs,’ a must stop in the first-in-the-nation primary state for White House hopefuls. Later Wednesday, Moulton campaigns in South Carolina, which holds the first southern primary. That will be followed Thursday by stops in Iowa – which kicks off the caucus and primary calendar – as well as Nevada – which holds the first western contest.

In an interview Monday morning on ABC’s "Good Morning America," Moulton seemed to take a shot at one of the front runners in the Democratic race, Sen. Bernie Sanders of Vermont.

“I’m not a socialist, I’m a Democrat,” Moulton said in an interview. “That’s a differentiator for me in this race.”

Sanders is a self-described democratic socialist.

Moulton was first elected to Congress in 2014, after upsetting former Rep. John Tierney in a Democratic primary fight. The Salem lawmaker represents the state’s sixth congressional district, which covers the northeast corner of Massachusetts.

Meanwhile, Joe Biden is expected to declare his candidacy for president next week, two sources with knowledge of the former vice president’s plans confirmed to Fox News.

“The plan is to go Wednesday,” said a person close to Biden’s inner circle, who asked for anonymity to speak more freely. “But it could slip to Thursday.”

Source: Fox News Politics

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European shares little changed as earnings boost offsets tepid PMIs

The German share price index DAX graph at the stock exchange in Frankfurt
FILE PHOTO: The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, April 16, 2019. REUTERS/Staff

April 18, 2019

By Medha Singh

(Reuters) – European shares were little changed on Thursday as strong quarterly results from Unilever and Nestle tempered data showing euro zone businesses unexpectedly slowed this month.

The pan-European STOXX 600 index rose 0.01 percent by 0940 GMT, retreating from an eight-month high and set to snap a six-day winning streak ahead of the Easter holiday.

Losses in bank-heavy Milan and Madrid indexes led declines, while Germany’s DAX edged higher.

The yield on the German 10-year bund fell further after flash Purchasing Managers’ Index (PMI) data unexpectedly fell to 51.3, a downturn led again by the bloc’s manufacturing industry.

The data came on the heels of the German government lowering its forecast for 2019 economic growth on Wednesday, which was overshadowed by better-than-expected economic data out of China.

“We … have confirmation that we are in a bit of a weak spot in Europe, if you look at the services sector and the composite PMI, and this is the reason why you’re seeing stock markets in Europe soften,” said Ken Odeluga, market analyst at CityIndex.

“But I think the PMI data is the wrong data at the right time. We are coming to the end of a very short week,” Odeluga added.

Also due are retail sales data and flash PMIs from the United States.

Bank stocks fell 0.7 percent, their steepest loss in three weeks.

Shares in Osram were among the biggest percentage losers on the STOXX 600 after a German magazine reported that private equity groups Bain and Carlyle were losing confidence in their bid for the lighting group.

SIGNS OF SLOWDOWN

Kering dropped 3.6 percent and weighed heavily on France’s CAC 40 after signs of a slowdown at the French fashion company’s Gucci brand, particularly in the United States.

Top gainer in Germany’s DAX was Deutsche Post, after the Federal Network Agency cleared the way for the postal company to significantly increase the cost of sending letters after the company pledged to hire an extra 5,000 delivery workers.

Not all earnings were disappointing. The food and beverage sector raked in a 1 percent rise, the most among European sectors, lifted by upbeat earnings from Nestle.

The food group’s shares advanced after it maintained its full-year forecast after good momentum in the United States and China.

London and Amsterdam-listed shares of Unilever topped the STOXX 600 after the consumer goods group reported stronger than expected quarterly underlying sales growth, helped by increased prices and volume.

Schneider Electric rose after the French company beat first-quarter revenue estimates.

Lab equipment maker Sartorius Stedim Biotech rose 3 percent after it maintained full-year guidance as first-quarter revenue rose.

French vouchers and card provider Edenred gained 2.3 percent after keeping its outlook for 2019 unchanged. Rival Sodexo was up 0.5 percent.

(Reporting by Medha Singh and Susan Mathew in Bengaluru; Editing by Gareth Jones and David Holmes)

Source: OANN

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Donna Brazile: Obama did ‘everything he could’ to prevent Russian meddling

Fox News contributor Donna Brazile defended former President Barack Obama on Friday as he faced criticism for his response to Russian meddling during the 2016 election.

"I think they did everything they could without sounding all of the alarm bells," she said of Obama's administration. The subject came up as Fox News host Dana Perino asked Brazile on "The Daily Briefing" about Special Counsel Robert Mueller's report — something Brazile said should be a "wake-up call" due to its troubling findings about Russian interference.

If Obama did more on Russian meddling, she said, critics would have accused him of trying to help his former Secretary of State, Hillary Clinton, in her race against then-candidate Donald Trump.

KIMBERLEY STRASSEL: MUELLER'S REPORT SPEAKS VOLUMES

"He was in a box," Brazile said of Obama. "Perhaps President Trump is in a box," she added, before calling for action to prevent future meddling. Her comments came as the Obama administration faced renewed scrutiny over spying on the Trump campaign.

Mueller's investigation did not find sufficient evidence to formally accuse Trump's campaign of collusion, although it contained details about activity related to that issue.

During an earlier interview on "Outnumbered," Rep. Eric Swalwell, D-Calif., defended the former president, saying that he shouldn't have to apologize, given Mueller's findings. Mueller's report, he said, "laid out a multiplicity of contacts between the Trump campaign and Russians."

Fox News Chief National Correspondent Ed Henry, who joined Brazile on "The Daily Briefing" panel Friday, indicated that Democrats should give Trump associates credit for not taking Russian "bait." "Where's the credit for the Trump folks who didn't take the bait? I mean, we've heard for two years that they did," he said.

KELLYANNE CONWAY, AFTER MUELLER REPORT'S RELEASE, SAYS PRESS APOLOGIES ARE IN ORDER

Brazile countered that the Trump campaign "exploited" information from Wikileaks, an organization with suspected ties to Russia, to create a "false narrative."

"Every day, the Trump campaign would get the Wikileaks information; they would blast it. He used it in his daily rallies and daily meetings," Brazile said.

Brazile, who served as interim Democratic National Committee chair during the election, backed away from making any determination about whether her party should pursue impeaching the president.

That question arose after Mueller's report stopped short of accusing Trump of obstructing justice, but highlighted 10 items that were concerning in relation to that issue.

CLICK HERE TO GET THE FOX NEWS APP

"I think it's premature to talk about what the next step is," she said. "Before we can move into what I call the impeachment gear, perhaps we should just dive into this report," she added.

While congressional Democrats have already pushed for more information regarding the investigation, the party as a whole seemed hesitant about impeachment. House Speaker Nancy Pelosi, D-Calif., has quashed the idea on multiple occasions but newcomers — like Reps. Alexandria Ocasio-Cortez, D-N.Y. and Rashida Tlaib, D-Mich., — have thrown their weight behind impeaching the president. Like Brazile, DNC Chair Tom Perez appeared to sidestep impeachment questions on Thursday and said it was unclear whether or not obstruction occurred.

Source: Fox News Politics

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Santander focused on Europe cost cuts, Latin American profit

FILE PHOTO: A woman walks past Banco Popular and Santander branches in Barcelona
FILE PHOTO: A woman walks past Banco Popular and Santander banks branches in Barcelona, Spain, June 7, 2017. REUTERS/Albert Gea/File Photo

April 3, 2019

By Jesús Aguado

MADRID (Reuters) – Santander assured investors on Wednesday that cost savings in mature markets in Europe and higher profitability growth in Latin America were enough to deliver on midterm financial targets while pushing its digital transformation.

Santander said it was aiming for incremental annual cost savings of 1.2 billion euros ($1.4 billion) in the medium term, of which 1 billion euros would come from Europe.

Europe’s banks are focused on cost savings as they attempt to offset a squeeze on margins due to ongoing record-low interest rates in the euro zone.

Santander shares were up 2.1 percent at 116 GMT against a 1.4 percent rise on the European STOXX banking index.

As part of its focus on efficiency in Europe, it said it was expecting 250 million euros of additional cost savings in Spain from the integration of Popular to boost its underlying profitability to between 14-16 percent from around 11 percent.

When it first announced the acquisition of Popular in 2017, Santander said it was expecting cost synergies of close to 500 million euros per year from 2020.

In Britain, Santander’s third biggest market, it said that as part of its strategy it would focus on cost management and continued risk discipline, without giving any specifics.

Of its main markets, Britain was the area with the lowest underlying profitability target ratio. It set out a target of between 10-12 percent from 9 percent in 2018.

Santander is expecting the British economy to grow around 1 percent over the next couple of years partially due to uncertainty over Britain’s decision to leave the European Union.

“It could be better and it could be worse, but your guess is as good as mine. As to what’s going to happen I’m a bit confused,” Sandtander Chairman Ana Botin said when asked about the Brexit outcome. She stressed that the lender was taking a conservative approach toward lending in Britain.

Santander said around 730 million euros of the total cost savings would come from efficiency gains in IT and operations and 220 million euros from shared services across regions, including Britain.

The bank also said it was aiming to reach a cost-income ratio – a measure of efficiency – of between 42 percent and 45 percent at group level in the medium term from 47 percent.

Santander reiterated it was aiming to lift its return on tangible equity (ROTE), a measure of profitability, to 13-15 percent in the medium term from 11.7 percent in 2018.

LATIN AMERICA PROFITABILITY

In Brazil, the bank’s biggest market, Santander said it was expecting low interest rates to maintain growth in its loan book and keep improving its underlying ROTE above 20 percent.

Its business in Latin America, responsible for 43 percent of the bank’s profits, was seen rising its profitability to between 20-22 percent, thanks to high and sustainable revenue growth.

Santander also repeated a mid-term core Tier 1 capital ratio target of 11-12 percent, against 11.3 percent in 2018 but below the average of more than 12.5 percent among its European peers.

Botin dismissed analysts’ concerns over the bank’s capital adequacy, highlighting the lender’s lower risk retail and higher diversification model.

“Being prudent, having more capital, we all want that but at some point enough is enough and if they keep on building buffers and buffers, Europe will not grow, banks in Europe will have increasing problems and they will have less inclination to lend,” Botin told investors in London.

With banks facing increasing competition from so-called new technology entrants, Santander also unveiled a plan to expand its digital bank, Open Bank, to 10 new international markets in order to reach two million customers.

As part of its digital drive, Santander said it would invest over 20 billion euros in technology over the next four years.

(Reporting by Jesús Aguado; Editing by Paul Day/Alexander Smith and Emelia Sithole-Matarise)

Source: OANN

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Australia central bank research shows income, not just property weakness, key for policy

FILE PHOTO: Two women walk next to the Reserve Bank of Australia headquarters in central Sydney
FILE PHOTO: Two women walk next to the Reserve Bank of Australia headquarters in central Sydney, Australia February 6, 2018. REUTERS/Daniel Munoz

March 21, 2019

By Swati Pandey

SYDNEY (Reuters) – Australia’s tumbling house prices would not necessarily translate into cuts in official interest rates if growth and inflation expectations remain strong, central bank research showed on Thursday.

While the report from the Reserve Bank of Australia (RBA) is not a policy outlook paper, it provides an insight into the research that shapes its views.

The paper also comes as the country’s once high-flying property market nosedives and consumers in the A$1.9 trillion ($1.36 trillion) economy cut back on spending.

The article, which appeared in the RBA’s monthly bulletin, said “a fall in housing prices would have fewer negative consequences if it was offset by other developments which meant that the overall economic outlook was positive and the unemployment rate was falling.”

It also noted that “despite the fall in housing prices, interest rates may not need to be reduced as much to offset the effect of that price fall” if households and businesses expected strong growth and inflation in line with central bank targets.

The research noted the uncertainties related to estimating the effects of plunging property prices on household consumption. It identified a “positive and stable relationship” between household wealth and consumption, but that link somewhat broke when prices were in a downward spiral.

“A decline in household wealth is less likely to coincide with weaker consumption growth if it occurs at a time when the labor market is strong and household income growth is firm,” the RBA’s researchers noted.

The RBA has said previously the economy is entering “uncharted territories” as this housing downturn has occurred alongside record-low policy rates and solid jobs momentum.

Data out earlier in the day showed Australia’s jobless rate fell to a near eight-year low of 4.9 percent as employment growth extended its dream run.

However, there are questions over how much further unemployment could fall and how households would react to an extended downturn in the property market. Australia’s housing stock is worth a cool A$6.68 trillion, but has fallen by A$280 billion since its peak in early 2018.

An increasing number of economists already expect a cut in the official cash rate from a record low of 1.50 percent this year, while financial markets are fully pricing in a policy easing as early as September.

The RBA’s modeling shows net wealth is not the sole determinant of consumption though. Household disposable income, the level of real interest rates, the unemployment rate and the economic performance also matter.

The RBA also looked at the effects of a prolonged fall in housing prices – an experience that Australia has not had in the past.

“The net effect of a fall in housing prices that occurs when broader macroeconomic conditions are positive might be only a small slowdown in the pace of economic activity,” the RBA said.

“However, if the same fall in housing prices occurred alongside a broader slowdown in economic conditions, this could add to any case for an easing of monetary policy coming from the broader slowdown.”

(Reporting by Swati Pandey; Editing by Sam Holmes)

Source: OANN

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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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Well, Joe Biden didn’t exactly clear the field.

I don’t think it matters much that Biden waited until yesterday to become the 20th Democrat vying for the nomination, even though it exposed him to weeks of attacks while he seemed to be dithering on the sidelines.

A much greater warning sign, in my view, is the largely negative tone surrounding his debut. He is, after all, a former vice president, highly praised by Barack Obama, who has consistently led in the early primary polls, and beating President Trump in head-to-head matchups. Yet much of the press is acting like he’s an old codger and it’s just a matter of time before he keels over politically.

This is all the more remarkable in light of the fact that the vast majority of journalists and pundits know and like Joe Biden and his gregarious personality.

The reason is that Biden, after a half-century in politics, lacks excitement, and the press is magnetically attracted to novel and unorthodox types like Beto and Mayor Pete. You don’t see Biden on the cover of Vanity Fair, and a grind-it-out win by a conventional warrior doesn’t set journalistic hearts racing.

JOE BIDEN ANNOUNCES 2020 PRESIDENTIAL BID: 3 THINGS TO KNOW ABOUT THE FORMER VICE PRESIDENT

For many in the media, Biden isn’t liberal enough, at least not for the post-Obama era. He doesn’t promise free college and free health care and has a history of working with Republicans, such as John McCain (whose daughter Meghan loves him, and Biden will hit “The View” today.)

What’s more, Biden’s campaign style — speak at rallies, rack up union endorsements — seems hopelessly old-fashioned when we measure popularity by Instagram followers. News outlets are predicting he’ll have trouble getting in the online fundraising game, leaving him reliant on big donors, which used to be standard practice.

And then there’s the age thing. Biden would be the oldest president to be inaugurated, at 78, and he looked a step slow in encounters with reporters yesterday and a few weeks ago.

But what if the journalists are in something of a Twitter bubble, and the actual Democratic Party is much more moderate? We saw that with the spate of allegations by women of unwanted touching, which dominated news coverage until polls showed that most Dem voters weren’t concerned. In that wider world, the Scranton guy’s connection to white, working-class voters could help him against Trump in the industrial Midwest.

SUBSCRIBE TO HOWIE’S MEDIA BUZZMETER PODCAST, A RIFF OF THE DAY’S HOTTEST STORIES

Biden denounced the president’s term as an “aberrant moment” in his launch video, saying four more years would damage the country’s character and “I cannot stand by and watch that happen.”

But first, he’d have to win the nomination in the face of an unenthusiastic press corps.

A New York Times news story said Biden would be “marshaling his experience and global stature in a bid to lead a party increasingly defined by a younger generation that might be skeptical of his age and ideological moderation.”

The Washington Post quoted Democratic strategists as saying that Biden faces an “uphill battle” and “isn’t necessarily the heir apparent to Obama, despite being his No. 2 in the White House for eight years. They argue voters will judge Biden by the span of his decades-long career and are worried the veteran pol hasn’t yet found a winning formula for his own candidacy.”

The liberal Slate said the ex-veep’s rivals view him as a “paper tiger”:

“Biden is something more like a 2016 Jeb Bush: a weak establishment favorite whose time might be past … Biden’s biggest challenge in the primary will be a compromised past spanning nearly 50 years.”

“Compromised” suggests a history of scandal, yet what Slate means is political baggage, such as his backing of a Clinton-era crime bill unpopular with black voters today. Yet I think the rank and file isn’t as concerned about a vote back in 1994, or even the Anita Hill hearings, as the chattering classes.

BIDEN’S SENATE RECORD, ADVOCACY OF 1994 CRIME BILL WILL BE USED AGAINST HIM, EX-SANDERS STAFFER SAYS

One of the few left-leaning pundits to suggest the press is underestimating Biden is data guru Nate Silver at 538:

“Media coverage could nonetheless be a problem for Biden. Within the mainstream media, the story of Biden winning the nomination will be seen as boring and anticlimactic. That tends not to lead to favorable coverage. Meanwhile, some left-aligned media outlets may prefer candidates who are some combination of more leftist, more wonkish, more reflective of the party’s diversity, and more adept on social media.

“If Biden is framed as being out of touch with today’s Democratic Party and that narrative is repeated across a variety of outlets, it could begin to resonate with voters who don’t buy it initially. If he’s seen as a gaffe-prone candidate, then minor missteps on the campaign trail could be blown up into big fumbles.”

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Look, it’s entirely possible that Biden could stumble, get lapped in fundraising and just be outclassed by younger and savvier rivals. He was hardly a great candidate in 1987 and in 2008.

But if the former vice president finds his footing and the field narrows, the press will be forced to change its tune, and we’ll see a spate of stories about how Joe Biden has “grown.”

Source: Fox News Politics

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South Africa's 400m Olympic gold medallist and world record holder Wayde van Niekerk looks on as he attends South African Championships in Germiston
South Africa’s 400m Olympic gold medallist and world record holder Wayde van Niekerk looks on as he attends South African Championships in Germiston, South Africa, April 25, 2019. REUTERS/Siphiwe Sibeko

April 26, 2019

GERMISTON, South Africa (Reuters) – Olympic 400 meters champion Wayde van Niekerk has backed South African compatriot Caster Semenya in her battle with the International Association of Athletics Federations (IAAF), which now appears to have taken a new twist.

Semenya, a double 800 meters Olympic gold medalist, is waiting for the outcome of her appeal to the Court of Arbitration for Sport (CAS) to halt the introduction of new regulations by governing body IAAF that would require her to take medicine to limit her natural levels of testosterone.

The IAAF wants female athletes with differences of sexual development who run in events from 400 meters to a mile, to reduce their blood testosterone level to below five (5) nmol/L for a period of six months before they can compete, saying they have an unfair advantage.

“She’s fighting for something beyond just track and field, she’s fighting for woman in sports, in society and I respect her for that,” Van Niekerk told reporters.

“I will support her and with the hard work and talent that she’s been putting into the sport. With what she believes in and what she’s dreaming for, I’ve got a lot of respect for her.

“I really hope and pray that everything just goes from strength to strength for her.”

Semenya has sprung a surprise at the on-going South African Athletics Championships though, ditching the 800 meters and instead competing over 1,500 and 5,000-metres – the latter one would not require her to medically lower her testosterone level.

She stormed to victory in the 5,000-metres final in a modest time of 16:05.97, but looked to have lots left in the tank as she passed the finish line.

Semenya beat fellow Olympian and defending national 5,000m champion Dominique Scott in Thursday’s final but the latter admitted she is unsure whether the 800m specialist could be a serious Olympic contender over the longer distance.

“Honestly‚ I have no idea‚” Scott said. “Before today I probably would have said no. It’s hard to compare a 5,000 at altitude to a 5,000 at sea level.

“But I think she’s an amazing runner and I don’t think there’s any limit or ceiling on what she can do.”

Van Niekerk, the 400m world record holder, had to abort his comeback from a knee injury, that had sidelined him for 18 months, following a combination of cold weather and a wet track.

“We are trying to take the correct decisions now early in the year so as not to put myself in any harm,” he said.

“It was a bit chilly this entire week prepping and coming through here as well it was quite cold and it caused bit of tightness in my leg. We decided to not risk it.

“My recovery is going well and I would like to be back in competition this year, but will only do so if I can deliver a good performance.

“I am a competitor and respect my opponents, so I need to be at my best when I return.”

(Reporting by Nick Said, additional reporting by Siyabonga Sishi; editing by Sudipto Ganguly)

Source: OANN

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The suspected leader of the Easter Sunday bombings in Sri Lanka died in the Shangri-La hotel, one of six hotels and churches targeted in the attacks that killed at least 250 people, authorities said.

Police said Mohamed Zahran, leader of the National Towheed Jamaat militant group, had been killed in one of the bombings. The group’s second in command was also arrested, police said.

Zahran amassed an online following for his hate-filled sermons. Some were delivered before a banner depicting the Twin Towers.

Sri Lankan authorities said Friday that Islamic cleric Mohammed Zahran died in the blast at the Shangri-La hotel during the Easter Sunday atatcks that killed at least 250 people. 

Sri Lankan authorities said Friday that Islamic cleric Mohammed Zahran died in the blast at the Shangri-La hotel during the Easter Sunday atatcks that killed at least 250 people.  (YouTube)

Australian Prime Minister Scott Morrison said Friday that the attackers responsible for the bombings were supported by the Islamic State group. Around 140 people in Sri Lanka had connections to ISIS, Sri Lankan President Maithripala Sirisena said.

“We will completely control this and create a free and peaceful environment for people to live,” he said.

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Investigators determined the attackers received military training from someone called “Army Mohideen.” They also received weapons training overseas and at some locations in Sri Lanka, according to authorities.

A copper factory operator arrested in connection with the bombings helped Mohideen make improvised explosive devices, police said. The bombings have led to increased security throughout the island nation as authorities warned of another attack.

Source: Fox News World

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