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High-end cigar businesses fear going up in smoke because of ‘harsh’ FDA rules

YBOR CITY, Fla. – Cigars helped define this neighborhood in Tampa that, in its prime almost a century ago, was known as the “Cigar Capital of the World.” Home to over 100 factories, the city produced millions of cigars to ship worldwide.

Today, family-owned J.C. Newman Cigar Company is the sole survivor and the oldest premium cigar maker in the U.S. But its fourth-generation owners say their future is now threatened because of regulations from the Food and Drug Administration (FDA) that they are fighting to overturn. The cigar owners are gaining support among prominent lawmakers, to the chagrin of health advocates who claim the industry is putting lives at risk.

“Our company has survived two world wars, the Great Depression, the Cuban Embargo, but proposed FDA regulations would be the nail on the coffin for our factory and 135 employees,” said owner and president of the 124-year-old company, Eric Newman. “These are American jobs…this is all they know…this is all they have.”

Cigars have long been a cultural cornerstone in places like Cuba and the Dominical Republic and, at one point, was a status symbol in the U.S., popular among movers and shakers. But health concerns and tightened regulations have strangled the industry. Owners say the FDA’s well-meaning effort to curb tobacco use by minors became a one-size-fits-all approach, enforcing the same regulations on cigarettes and vaporizers as they do for handcrafted, premium cigars.

The owners say if the FDA rules are not loosened, their industry will die.

“The FDA regulated the entire cigar industry…we have been the unintended victims of this,” said Bobby Newman, Eric’s brother and vice president of the company.

In 2009, Congress gave the FDA the power to regulate the tobacco industry. Prior to the change, new products flowed freely from cigarmakers to store shelves. The Newmans said what happened next wasn’t part of the plan.

In May 2016, the FDA expanded oversight of all tobacco products, including premium cigars, e-cigarettes and other previously unregulated tobacco products.

“This is America…it’s supposed to be of the people by the people for the people, not screw the people…We've been screaming and shouting from the rooftops that premium cigars are different than other tobacco products,” Eric Newman said.

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One regulation calls for manufacturers to cover 30 percent of their packaging with a health risk label, something the brothers say would destroy one of the main reasons people buy cigars -- for the specialty boxes. After widespread pushback, the U.S. District Court for the District of Columbia placed a temporary injunction on the rule.

The policy would also prohibit manufacturers from giving out cigars as gifts or samples. They also said the agency imposed new product standard rules that will cost them millions.

“It would cost us $30 million dollars to totally comply with the FDA regulations when we sell $10 million out of this factory,” Eric said. “We need people to stand up for us…”

"We're going to fight like hell to keep our factory from shutting down," said fourth-generation owner Eric Newman, whose factory employs 135 people.

"We're going to fight like hell to keep our factory from shutting down," said fourth-generation owner Eric Newman, whose factory employs 135 people. (Fox News)

The industry has found support, particularly among Florida's lawmakers. Democratic Tampa Congresswoman Kathy Castor supports changing the regulations. Having worked on the law, she said it was never meant to apply to premium cigars.

“…The rule went beyond congressional intent and ignored the distinction between traditional handcrafted premium cigars and other products that are marketed to children," she said. "It is critical that we ensure Tampa’s premium cigar manufacturing industry continues to thrive!”

But health advocates say an exclusion for the specialty industry shouldn’t happen.

“The [FDA] took a long time before it acted to protect the public both from cigars and from e-cigarettes. And, unfortunately, during that delay we saw a dramatic increase in the use of both e-cigarettes and cigars...because there was no oversight of these products for decades, it became the leading cause of preventable death in the U.S.,” said Erika Sward, national assistant vice president of advocacy for The American Lung Association. “We would not stand for a so-called premium car not having airbags or seatbelts just because it had more steel in it to reinforce it. There should be no exceptions for cigars, either.”

A recently released National Youth Tobacco Survey showed that youth use of e-cigarettes fell for the first time in 2016, after skyrocketing since 2011. But data showed that high school boys smoke cigars at a slightly higher rate than cigarettes.

Florida Democratic Rep. Kathy Castor and Republican Sen. Marco Rubio have both introduced bills to defend the cigar industry from the regulations.

Florida Democratic Rep. Kathy Castor and Republican Sen. Marco Rubio have both introduced bills to defend the cigar industry from the regulations. (Fox News)

Castor and Florida’s Republican Sen. Marco Rubio have both introduced bills to exempt the cigar industry from the burdensome regulations. Senators from both sides of the aisle have signed on as co-sponsors.

The moves come as the premium industry, once a booming enterprise, has fallen drastically.

In 1895, there were 40,000 federally licensed cigar manufacturers in the United States. Less than 100 remain in business today.

But the Newmans say they won’t go down without a fight.

“We're David against Goliath…if you don't fight for your rights, you don't deserve to win,” said Bobby Newman.

“We’re not going down easy,” added his brother.

The FDA told Fox News it "does not comment on proposed or pending legislation.”

The agency is currently holding a public commenting period through June 17 to receive feedback on the regulatory plan.

The Cigar Association of America, the International Premium Cigar and Pipe Retailers Association and the Cigar Rights of America, have all joined forces to file a lawsuit against the FDA.

“From the beginning of this process, we have stated that this was a clear case of bureaucratic overreach, with the end goal being nothing short of a modern era prohibition. The regulations looming over this industry, in many ways, are more harsh and burdensome than on those products which Congress actually told the agency to regulate. That’s why we are forced into the courts, halls of Congress and other offices and agencies within the president’s administration to tell our story, make the case for relief, so that we can protect this skilled artisan profession -- and the simple enjoyment of a cigar. Honestly, we think there are higher priorities for our government,” said J. Glynn Loope, executive director of Cigar Rights of America.

The Newmans say they hope President Trump delivers on one of his key campaign promises—to crack down on government regulations—so they can stay in business for another 124 years.

Source: Fox News Politics

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Texas woman arrested, charged with capital murder after baby found dead in flower pot: report

A Texas woman was arrested after her newborn child was found buried in a flowerpot in a cemetery, officials said.

Jazmin Lopez, 18, identified herself as the mother of the baby, who was found by a caretaker at Perry Cemetery on March 11, Fox station KDFW reported.

FLASHBACK: TEXAS WOMAN, 18, SAYS SHE'S THE MOTHER OF BABY WHOSE BODY WAS FOUND IN CEMETERY FLOWERPOT

The caretaker "emptied what he knew to be an out of place flowerpot and discovered the body of a deceased infant beneath the pot's soil," the Carrollton Police Department previously revealed in a news release.

Authorities said the baby "was a girl, 34 weeks to full term, and weighed just under six pounds."

Jazmin Lopez, 18, was reportedly arrested after she identified herself as the mother of a baby who was found dead in a flowerpot in March. 

Jazmin Lopez, 18, was reportedly arrested after she identified herself as the mother of a baby who was found dead in a flowerpot in March.  (Denton County Sheriff’s Office)

Lopez allegedly first told investigators that she gave birth to the baby, who was not breathing or moving, while at home alone, the news station reported, citing an arrest warrant affidavit.

Police said that after they found a photo of a seemingly alive baby on her phone, the woman allegedly changed her story, claiming she gave birth in the bathroom with family members home.

“Jazmin demonstrated that she took her shirt off and wrapped the baby up. Jazmin said the baby was moving and gasping for air," the affidavit reportedly stated. "Jazmin said she knew the baby was about to cry so she covered her mouth."

FLORIDA MAN CONVICTED OF MURDER FOR THROWING HIS DAUGHTER OFF BRIDGE

Lopez told authorities she "took the shirt and covered the baby’s face and then held the baby against her body for one to two minutes," before allegedly putting the body in a basket of blankets.

When her friend arrived, she said she put the baby in a backpack and went to buy a flower pot. Lopez allegedly claimed she put the body in the flower pot, then placed dirt and flowers on top.

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Investigators reportedly don't believe Lopez's claim that she covered the baby to keep her quiet, considering she had allegedly conducted a search history about abortion.

Lopez was taken into custody on Tuesday and charged with capital murder. As of Wednesday, she was reportedly being held at the Dallas County Jail on a $500,000 bond.

Source: Fox News National

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Shorts line up for a Lyft ride despite surge pricing

FILE PHOTO: Signage for Lyft is seen displayed at the NASDAQ MarketSite in Times Square in celebration of its initial public offering (IPO) on the NASDAQ Stock Market in New York
FILE PHOTO: Signage for Lyft is seen displayed at the NASDAQ MarketSite in Times Square in celebration of its initial public offering (IPO) on the NASDAQ Stock Market in New York, U.S., March 29, 2019. REUTERS/Shannon Stapleton/File Photo

April 3, 2019

By Sinéad Carew and Lance Tupper

NEW YORK (Reuters) – Lyft Inc shares had seen strong demand among short sellers on Tuesday even as borrowing fees surpassed that of other U.S. equities as investors rushed to bet against the loss-making ride hailing service, which has warned it may never be profitable.

About 6.61 million Lyft shares with a market value of $455 million were reported as on-loan on Tuesday, according to IHS Markit Securities Finance on Wednesday, which sees borrowed shares as the best proxy for short selling.

In comparison $661 million worth of Facebook shares were borrowed on the first day after its IPO, according to Sam Pierson, an analyst at IHS Markit.

After rising as much as 23% in its Friday market debut, the stock pared gains sharply to finish the day up just 8.7 percent. Lyft faces criticism for its dual-class share structure and its strategy for autonomous driving. Investor worries also include new laws aimed at increasing driver pay.

Tuesday was the first day short sellers could borrow shares in Lyft, which was handed its first ‘sell’ rating from Wall Street on the same day.

Annualized borrowing fees for Lyft shares ranged from 85% to 150% of the amount borrowed but the majority of activity was for just over 100%, according to IHS Markit, which said this makes Lyft the most expensive stock to borrow among companies with more than $5 million of stock on loan.

Facebook shares sold short on the day after its IPO had an annualized fee of 39 percent of the amount borrowed.

“For Lyft to have that many shares on loan with that fee is notable,” said Pierson. “For an IPO there’s a lot of demand up front but even within that framework this is fairly high.”

Still, short sellers did not appear to be the dominant force on Wednesday as the stock was last up 3.0% at $71.06 bringing it closer to its IPO price of $72 but well below an intraday high of $88.60 reached on the first day of trading.

Investors who sell securities short borrow shares and then sell them, in a bet that the stock will fall so they can buy the shares back at a lower price, return them to the lender and pocket the difference.

SEC regulations prohibit underwriters from lending out their shares to cover short sales for 30 days. Tuesday was the first settlement day for Lyft share sales, so it was the first day other investors could loan out their shares.

Of the 8 analysts who cover Lyft so far, three recommend buying the stock while four say to hold it and one has a sell rating on the stock. The median price target for the stock is $77.50 with targets ranging from a low of $42 and a high of $97.

(Reporting by Sinéad Carew and Lance Tupper; Editing by Phil Berlowitz)

Source: OANN

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China can speed up financial sector opening, official says

China Development Forum in Beijing
Fang Xinghai of the China Securities Regulatory Commission attends the China Development Forum in Beijing, China, March 23, 2019. REUTERS/Thomas Peter

March 23, 2019

BEIJING (Reuters) – China can speed up the opening of its financial sector if the United States is unhappy with the pace because it will be good for both countries, Fang Xinghai, vice chairman of the China Securities Regulatory Commission, said on Saturday.

“If the U.S. side complains that we have opened up too slowly, we can speed it up … We are fully convinced it’s good for both countries – it’s good for China and good for the United States,” Fang said at the annual China Development Forum.

“In the securities industry, mutual fund management, no problem, we can compete.”

The two countries have been working to resolve a bitter trade dispute that has rattled financial markets and disrupted world supply chains in a blow to global growth.

The United States has accused China of limiting market access for U.S. firms, forcing companies to transfer technology and providing little protection for intellectual property rights.

(Reporting by John Ruwitch; Editing by Robert Birsel)

Source: OANN

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Pompeo tours Lebanese historical sites in ancient city

U.S. Secretary of State Mike Pompeo and his wife Susan spent much of the second and last day of their visit to Lebanon touring historical churches and a centuries-old citadel in this coastal city Saturday.

The tour in Byblos and a nearby village came a day after Pompeo blasted the militant Hezbollah group and called on the Lebanese people to stand up to its "criminality."

His visit came amid tight security as roads were closed before his motorcade drove through Byblos and Beirut while Lebanese army sharpshooters took positions on rooftops. Some of the sites he visited, including churches, were closed to the public during his hourslong tour.

Pompeo began his day by visiting the site where a new U.S. embassy compound is being built then drove to the village of Behdaidat northeast of Beirut where he visited the 13th century Mar Tadros, or St. Theodore church. The State Department awarded a $44,000 grant through the Ambassador's Fund for Cultural Preservation to support the conservation of the church.

Later, he visited two other churches in this coastal city renowned for its ancient Phoenician, Roman, and Crusader ruins where he was greeted by priests who briefed about the history of each church.

The last site to be visited in the ancient city was the Byblos Citadel built by the Crusaders. Pompeo toured the citadel as Tania Zazen, director general of antiquities in Byblos, accompanied him recounting the city's history.

In 2011, the State Department awarded a grant $93,895 to support the conservation of the main tower of the 12th century citadel at the archaeological site of ancient Byblos, a World Heritage site.

The delegation afterward went to a restaurant by the Mediterranean where they had a meal of cold and hot authentic Lebanese dishes, known as Mezza, and grilled lamb chops and chicken.

Pompeo also met Lebanese Armed Forces commander Gen. Joseph Aoun and Beirut Metropolitan of Greek Orthodox Archbishop Elias Audi.

"Spoke about the importance of protecting and defending religious diversity and opportunity" with Bishop Audi and how they enrich every country," Pompeo tweeted after the meeting.

Around sunset, his plane took off back to the U.S. ending a Mideast tour that also included visits to Kuwait and Israel.

Pompeo renewed his attack on Hezbollah and its main backer Iran, blasting the country's Supreme Leader Ayatollah Ali Khamenei and Qassim Suleimani, the commander of Iran's elite Quds Force, saying their aim is to control Lebanon.

"They want to control this state. They want access to the Mediterranean. They want power and influence here," Pompeo said in an interview with Sky News. He added that "the people of Lebanon deserve better than that, they want something different from that, and America is prepared to help."

When told that the Lebanese president and prime minister are not on the same page, Pompeo responded: "Yeah, I don't think that's true. I think that's false."

Speaking on President Donald Trump's abrupt declaration that Washington will recognize Israel's sovereignty over the Israeli-occupied Golan Heights, Pompeo told Sky News that "what the President did with the Golan Heights is recognize the reality on the ground and the security situation necessary for the protection of the Israeli state. It's that - it's that simple."

When told the Trump's decision comes in violation of U.N. Security Council resolutions Pompeo, defended him saying: "No, this is - this is deeply consistent with the reality on the ground, the facts on the ground."

Source: Fox News World

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Russian police detain several protesters against waste dump

Activists say that police have detained several participants in a protest against the construction of a waste dump in northwestern Russia.

Several thousand demonstrators rallied in Arkhangelsk on Sunday demanding the project be halted, and some have vowed to stay on the city's central square to press their demands.

Police allowed the unsanctioned protest to go on peacefully, but detained several organizers on Monday, according to OVD-Info, an independent online portal monitoring human rights issues.

Regional Gov. Igor Orlov, who has faced criticism for stonewalling complaints against the waste plant, has criticized the demonstrators for failing to get official clearance for the protest.

The rally in Arkhangelsk was the latest in a series of protests in Russia focusing on environmental issues, such as toxic landfills and waste processing plants.

Source: Fox News World

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US Navy warships will again fly Union Jack after 17 years

After nearly 17 years, United States Navy warships will return to flying the Union Jack, replacing the First Navy Jack flown in the wake of the Sept. 11 attacks.

A news release says Chief of Naval Operations Adm. John Richardson issued an order Thursday calling for the blue banner with 50 white stars to return June 4 to commemorate the World War II Battle of Midway.

The Navy's current maritime flag, the First Navy Jack, features red and white stripes with a rattlesnake and the words "Don't Tread On Me." As the commissioned ship with the longest total period in active status, the USS Blue Ridge will become the only warship authorized to fly the First Navy Jack.

Richardson says the return to the Union Jack accompanies a "new era of competition."

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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