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Senate Dems introduce measure to abolish Electoral College

A group of Democratic senators on Tuesday introduced a measure to do away with the Electoral College, picking up on a talking point that has caught fire in the 2020 Democratic presidential field.

The measure serves as companion legislation to one put forward in the House by Rep. Steve Cohen, D-Tenn., and counts one presidential candidate -- Sen. Kirsten Gillibrand of New York -- among its co-sponsors. Democratic Sens. Dick Durbin of Illinois, Dianne Feinstein of California and Brian Schatz of Hawaii also sponsored the resolution.

WHY DEMOCRATS WANT TO ABOLISH ELECTORAL COLLEGE, PACK SUPREME COURT 

The Electoral College has been the focus of renewed Democratic criticism in the wake of President Trump's 2016 win. While he defeated Hillary Clinton in the electoral vote, he lost the popular vote by 2.9 million ballots.

“Before the 2000 election, I introduced a bipartisan resolution to amend the Constitution and create a system of direct election for presidents,” Durbin said in a statement. “And I still believe today as I did then that the Electoral College is a relic from a shameful period in our nation’s history, and allows some votes to carry greater weight than others.”

With her support of the companion legislation on Tuesday, Gillibrand is another 2020 Democratic hopeful embracing the idea of dumping the Electoral College in favor of a popular-vote election.

“Every American should know that their vote counts equally no matter what state they live in, and that’s why we need a more democratic system that guarantees one person, one vote,” Gillibrand said. “The Electoral College has distorted the outcome of elections and disenfranchised millions of voters, and I think that’s wrong. I believe that it's time to get rid of the Electoral College, and I am ready to fight in Congress and around the country to pass this constitutional Amendment to do that.”

15 FAR-OUT IDEAS FROM THE 2020 DEMS

The legislation was unveiled a day after another 2020 candidate, former Texas Democratic Rep. Beto O’Rourke, reiterated his call on Monday to abolish the Electoral College.

Answering a question from the audience at the We The People summit in Washington, O’Rourke argued that doing away with the Electoral College would restore the trust of voters and allow for fairer elections.

“Let’s abolish the electoral college,” O’Rourke said. “If we get rid of the Electoral College, we’d get a little closer to one person, one vote.”

He added: “Our democracy…it is warped, it is corrupted right now. If we don’t fix it, it’s never going to get better.”

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O’Rourke’s call echoes that of fellow Democratic presidential candidate Sen. Elizabeth Warren, D-Mass., who also has advocated abolishing the Electoral College.

“Every vote matters and the way we can make that happen is that we can have national voting, and that means get rid of the Electoral College,” Warren said.

But such calls have faced skepticism, even from other fellow Democrats.

Rep. Tulsi Gabbard, D-Hawaii, a 2020 presidential candidate, said in a recent interview that while the issue is worth debating, “I think it’s unfortunate that too often these calls for changes come about by the side that has lost or suffered as a result of the Electoral College.”

Source: Fox News Politics

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Asian shares near seven-month highs, investors pause for breath

FILE PHOTO: Man is seen in front of an electronic board showing stock information on the first day of trading in the Year of the Pig at a brokerage house in Hangzhou
FILE PHOTO: A man is seen in front of an electronic board showing stock information on the first day of trading in the Year of the Pig, following the Chinese Lunar New Year holiday, at a brokerage house in Hangzhou, Zhejiang province, China February 11, 2019. REUTERS/Stringer

April 3, 2019

By Andrew Galbraith

SHANGHAI (Reuters) – Asian shares hovered near seven-month highs early on Wednesday as global investors paused for breath after the strong rally seen earlier this week, while oil approached the key $70 per barrel mark.

MSCI’s broadest index of Asia-Pacific shares outside Japan was up less than 0.1 percent early in the Asian trading day. The index jumped more than 1 percent on Monday on data showing a return to growth for Chinese factory activity, while investor sentiment was further bolstered by improvements in U.S. manufacturing and construction spending.

The benchmark inched up to a seven-month high on Tuesday amid a global run of gains that has pushed MSCI’s key gauge of global equities to a six-month high. The global index was up less than 0.1 percent on Wednesday morning, following small gains on Wall Street overnight.

Australian shares were up 0.6 percent, while Japan’s Nikkei stock index added 0.2 percent.

On Tuesday, the Dow Jones Industrial Average fell 0.3 percent to 26,179.13 points, the S&P 500 was flat and the Nasdaq Composite added 0.25 percent to 7,848.69.

“After such a strong rise it is no surprise that the risk rally stalled a little,” Greg McKenna, strategist at McKenna Macro.

The consolidation in risk sentiment was reflected on Wednesday in easing yields U.S. Treasury yields.

Benchmark 10-year Treasury notes yielded 2.4706 percent, down from a U.S. close of 2.479 percent on Tuesday. The two-year yield, watched as a proxy for expectations of Fed rate rises, touched 2.2983 percent compared with a U.S. close of 2.308 percent.

Oil prices also stood near multi-month highs amid concerns over supply, with Brent crude up 0.45 percent at $69.68, close to its highest level so far in 2019 and near the key level of $70 per barrel.

U.S. West Texas Intermediate (WTI) crude was flat at $62.57 a barrel.

News that the United States is considering more sanctions against Iran, the fourth-largest producer in the Organization of the Petroleum Exporting Countries (OPEC), and the halting of production at a crude terminal in Venezuela threaten to squeeze supply and pushed oil prices up on Tuesday.

In currency markets, the pound was flat at $1.3127, having recovered its footing after British Prime Minister Theresa May said she would seek another delay to Brexit to work out an EU divorce deal with opposition Labour leader Jeremy Corbyn.

The dollar was down a hair against the yen to 111.27 and the euro was unchanged at $1.1202.

The dollar index, which tracks the greenback against a basket of six major rivals, was down less than 0.1 percent at 97.289.

Gold was slightly lower, with spot gold trading at $1,291.31 per ounce. [GOL/]

(Reporting by Andrew Galbraith; Editing by Sam Holmes)

Source: OANN

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Virginia school board delays ending transgender bathroom ban

A school board in Virginia said Thursday that it won't take any immediate action to overturn its transgender student bathroom ban, making what appeared to be a change in course after several community members urged the board to keep the ban in place.

Just a few days ago, the Gloucester County School Board was talking about possibly ending the four-year ban. A new policy was proposed that could help settle the discrimination lawsuit filed by Gavin Grimm, a former student who's become a national face for transgender rights.

But then the board held a public meeting on Tuesday. Some people showed support for the proposal. Many did not, quoting passages from the Bible and saying that too many students would feel uncomfortable for the sake of a few.

Two days later, the board said in a statement that it "has not set a time frame for when any action will be taken or when any further discussion will be held regarding the resolution."

The school board, which represents a somewhat rural community east of Richmond, declined to comment further.

In response, Grimm and his attorneys with the American Civil Liberties Union promised to fight on.

"It's disappointing that the board is choosing to prolong the suffering of trans youth in Gloucester County Public Schools, but we will see this fight through no matter how long it takes," Grimm, 19, said in a statement.

ACLU attorney Joshua Block added he is "confident that Gavin will ultimately prevail. The federal courts are there to protect individuals from discrimination when politicians refuse to do so."

The new policy the board had proposed would allow high school students to use bathrooms that correspond with their gender identity.

Block, the ACLU attorney, said the measure was discussed during a recent settlement hearing between both sides in an effort to resolve the case.

"The proposed policy is not something we would affirmatively support," he said Tuesday. "But it is acceptable as part of a negotiated settlement."

Meanwhile, a trial for Grimm's lawsuit is scheduled for July in U.S. District Court.

The federal judge has already shown signs of support for Grimm's cause. Last year, Judge Arenda Wright Allen declined the board's request to dismiss, writing that the board's policies "singled out and stigmatized Mr. Grimm."

Kim Hensley, a former school board member who attended Tuesday night's meeting, noted afterward that the community is divided over the bathroom issue. But she said support has grown for transgender students.

When the bathroom ban was put in place in 2014, she said there was "landslide" support for it.

Source: Fox News National

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Small plane crashes in Texas, killing 6 people, officials say

Six people died in a small plane crash Monday in central Texas during a landing attempt, officials said.

The twin-engine plane crashed just before 9 a.m. as it was preparing to land at Kerrville Municipal Airport., about 70 miles northwest of San Antonio. The plane’s wreckage was located about 6 miles from the airport, FOX San Antonio reported.

HIKERS WARNED TO WATCH OUT FOR UNDETONATED BOMBS IN COLORADO MOUNTAINS FROM AVALANCHE MITIGATION

All six people aboard the aircraft were killed, Texas Department of Public Safety Sgt. Orlando Moreno said.

The plane took off from an airport just outside of Houston earlier Monday. It’s unclear what caused the crash, but federal investigators said they were headed to the crash site to investigate.

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The National Transportation Safety Board said it was investigating the crash.

The Associated Press contributed to this report. 

Source: Fox News National

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Morgan Freeman Turning Ranch Into Bee Sanctuary

Oscar-winning actor Morgan Freeman has reportedly converted his 124-acre ranch in Mississippi into a bee sanctuary to save the declining bee population.

The popular star and director has imported 26 bee hives from Arkansas to his Mississippi ranch, where he has planted bee-friendly plants including lavender, clover, and magnolia trees, Forbes reported.

"I've discovered I don't have to put on a bee suit or anything to feed them," Morgan said a 2014 interview on the "Tonight Show." "I've never been stung. I'm never gonna get stung."

In another interview with Larry King, Freeman decried "a frightening loss of bee colonies, particularly in this county — to such an extent that the scientists are now saying 'this is dangerous,'" The Hill reported.

According to a 2016 report supported by the Department of Agriculture, between April 2015 and April 2016 beekeepers lost nearly half of their colonies, The Washington Post has reported.

Last August, the Interior Department announced it would reverse an Obama-era rule banning pesticides that threatened bees and butterflies, as well as other pollinators, and wildlife such as birds. The Hill noted.

Source: NewsMax America

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Chicago police officer shot in shoulder while serving warrant; 19-year-old woman charged

A 19-year-old woman is facing attempted murder and other charges after a Chicago police officer was shot Saturday night while serving a warrant, officials said.

Chicago police said in a news release that Emily Petronella was charged with aggravated assault of a peace officer, armed violence while discharging a weapon, aggravated discharge of a weapon at a peace officer and dealing more than 5,000 grams of cannabis in connection with the incident.

Officers were serving a search warrant just before 7:30 p.m. at the home in a neighborhood on the city's West Side when Petronella allegedly fired through a rear door, police said.

ILLINOIS DEPUTY WITH US MARSHALS FUGITIVE TASK FORCE FATALLY SHOT WHILE SERVING WARRANT, OFFICIALS SAY

Police spokesman Anthony Guglielmi said on Twitter the officer sustained a "serious injury" to his shoulder, and was transported to an area hospital where his condition was stabilized.

During a search of the home, officers recovered a large amount of cannabis, a semi-automatic pistol and large bundles of money from the scene, according to police. Petronella was then arrested and later charged.

SECOND DEFENDANT SENTENCED IN CASE THAT LED TO MOTORCYCLE COP'S DEATH

Police Superintendent. Eddie Johnson said that the 19-year-old had several encounters with law enforcement. Petronella was also free at the time on $10,000 bond stemming from a charge of a misdemeanor count of unlawful use of a weapon in February, the Chicago Sun-Times reported.

She is to appear in bond court Sunday.

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Johnson said the officer had been with the department for more than four years and had served in the U.S. Marine Corps, FOX32 reported.

The Associated Press contributed to this report.

Source: Fox News National

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Swiss man sentenced for links to Moroccan tourist slayings

A Swiss man has been sentenced to 10 years in prison by a Moroccan terrorism court for links to Islamic extremists who allegedly killed two Nordic tourists last year.

The man, 33, was convicted of charges including "deliberately helping perpetrators of terrorist acts" and training terrorists, according to state news agency MAP. The verdict was Thursday but reported Friday.

The online advertising technician, who was arrested in December, has a Moroccan wife, according to a lawyer representing another Swiss suspect in the case.

Moroccan prosecutors have filed terrorism charges against 25 individuals suspected of links to the killings.

The women tourists, one from Denmark and one from Norway, were found dead in their tent in the Atlas Mountains Dec. 17. Authorities blamed followers of the Islamic State group.

Source: Fox News World

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The Wider Image: China's start-ups go small in age of 'shoebox' satellites
LinkSpace’s reusable rocket RLV-T5, also known as NewLine Baby, is carried to a vacant plot of land for a test launch in Longkou, Shandong province, China, April 19, 2019. REUTERS/Jason Lee

April 26, 2019

By Ryan Woo

LONGKOU, China (Reuters) – During initial tests of their 8.1-metre (27-foot) tall reusable rocket, Chinese engineers from LinkSpace, a start-up led by China’s youngest space entrepreneur, used a Kevlar tether to ensure its safe return. Just in case.

But when the Beijing-based company’s prototype, called NewLine Baby, successfully took off and landed last week for the second time in two months, no tether was needed.

The 1.5-tonne rocket hovered 40 meters above the ground before descending back to its concrete launch pad after 30 seconds, to the relief of 26-year-old chief executive Hu Zhenyu and his engineers – one of whom cartwheeled his way to the launch pad in delight.

LinkSpace, one of China’s 15-plus private rocket manufacturers, sees these short hops as the first steps towards a new business model: sending tiny, inexpensive satellites into orbit at affordable prices.

Demand for these so-called nanosatellites – which weigh less than 10 kilograms (22 pounds) and are in some cases as small as a shoebox – is expected to explode in the next few years. And China’s rocket entrepreneurs reckon there is no better place to develop inexpensive launch vehicles than their home country.

“For suborbital clients, their focus will be on scientific research and some commercial uses. After entering orbit, the near-term focus (of clients) will certainly be on satellites,” Hu said.

In the near term, China envisions massive constellations of commercial satellites that can offer services ranging from high-speed internet for aircraft to tracking coal shipments. Universities conducting experiments and companies looking to offer remote-sensing and communication services are among the potential domestic customers for nanosatellites.

A handful of U.S. small-rocket companies are also developing launchers ahead of the expected boom. One of the biggest, Rocket Lab, has already put 25 satellites in orbit.

No private company in China has done that yet. Since October, two – LandSpace and OneSpace – have tried but failed, illustrating the difficulties facing space start-ups everywhere.

The Chinese companies are approaching inexpensive launches in different ways. Some, like OneSpace, are designing cheap, disposable boosters. LinkSpace’s Hu aspires to build reusable rockets that return to Earth after delivering their payload, much like the Falcon 9 rockets of Elon Musk’s SpaceX.

“If you’re a small company and you can only build a very, very small rocket because that’s all you have money for, then your profit margins are going to be narrower,” said Macro Caceres, analyst at U.S. aerospace consultancy Teal Group.

“But if you can take that small rocket and make it reusable, and you can launch it once a week, four times a month, 50 times a year, then with more volume, your profit increases,” Caceres added.

Eventually LinkSpace hopes to charge no more than 30 million yuan ($4.48 million) per launch, Hu told Reuters.

That is a fraction of the $25 million to $30 million needed for a launch on a Northrop Grumman Innovation Systems Pegasus, a commonly used small rocket. The Pegasus is launched from a high-flying aircraft and is not reusable.

(Click https://reut.rs/2UVBjKs to see a picture package of China’s rocket start-ups. Click https://tmsnrt.rs/2GIy9Bc for an interactive look at the nascent industry.)

NEED FOR CASH

LinkSpace plans to conduct suborbital launch tests using a bigger recoverable rocket in the first half of 2020, reaching altitudes of at least 100 kilometers, then an orbital launch in 2021, Hu told Reuters.

The company is in its third round of fundraising and wants to raise up to 100 million yuan, Hu said. It had secured tens of millions of yuan in previous rounds.

After a surge in fresh funding in 2018, firms like LinkSpace are pushing out prototypes, planning more tests and even proposing operational launches this year.

Last year, equity investment in China’s space start-ups reached 3.57 billion yuan ($533 million), a report by Beijing-based investor FutureAerospace shows, with a burst of financing in late 2018.

That accounted for about 18 percent of global space start-up investments in 2018, a historic high, according to Reuters calculations based on a global estimate by Space Angels. The New York-based venture capital firm said global space start-up investments totaled $2.97 billion last year.

“Costs for rocket companies are relatively high, but as to how much funding they need, be it in the hundreds of millions, or tens of millions, or even just a few million yuan, depends on the company’s stage of development,” said Niu Min, founder of FutureAerospace.

FutureAerospace has invested tens of millions of yuan in LandSpace, based in Beijing.

Like space-launch startups elsewhere in the world, the immediate challenge for Chinese entrepreneurs is developing a safe and reliable rocket.

Proven talent to develop such hardware can be found in China’s state research institutes or the military; the government directly supports private firms by allowing them to launch from military-controlled facilities.

But it’s still a high-risk business, and one unsuccessful launch might kill a company.

“The biggest problem facing all commercial space companies, especially early-stage entrepreneurs, is failure” of an attempted flight, Liang Jianjun, chief executive of rocket company Space Trek, told Reuters. That can affect financing, research, manufacturing and the team’s morale, he added.

Space Trek is planning its first suborbital launch by the end of June and an orbital launch next year, said Liang, who founded the company in late 2017 with three other former military technical officers.

Despite LandSpace’s failed Zhuque-1 orbital launch in October, the Beijing-based firm secured 300 million yuan in additional funding for the development of its Zhuque-2 rocket a month later.

In December, the company started operating China’s first private rocket production facility in Zhejiang province, in anticipation of large-scale manufacturing of its Zhuque-2, which it expects to unveil next year.

STATE COMPETITION

China’s state defense contractors are also trying to get into the low-cost market.

In December, the China Aerospace Science and Industry Corp (CASIC) successfully launched a low-orbit communication satellite, the first of 156 that CASIC aims to deploy by 2022 to provide more stable broadband connectivity to rural China and eventually developing countries.

The satellite, Hongyun-1, was launched on a rocket supplied by the China Aerospace Science and Technology Corp (CASC), the nation’s main space contractor.

In early April, the China Academy of Launch Vehicle Technology (CALVT), a subsidiary of CASC, completed engine tests for its Dragon, China’s first rocket meant solely for commercial use, clearing the path for a maiden flight before July.

The Dragon, much bigger than the rockets being developed by private firms, is designed to carry multiple commercial satellites.

At least 35 private Chinese companies are working to produce more satellites.

Spacety, a satellite maker based in southern Hunan province, plans to put 20 satellites in orbit this year, including its first for a foreign client, chief executive Yang Feng told Reuters.

The company has only launched 12 on state-produced rockets since the company started operating in early 2016.

“When it comes to rocket launches, what we care about would be cost, reliability and time,” Yang said.

(Reporting by Ryan Woo; Additional reporting by Beijing newsroom; Editing by Gerry Doyle)

Source: OANN

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German drug and crop chemical maker Bayer holds annual general meeting
Werner Baumann, CEO of German pharmaceutical and chemical maker Bayer AG, attends the annual general shareholders meeting in Bonn, Germany, April 26, 2019. REUTERS/Wolfgang Rattay

April 26, 2019

By Patricia Weiss and Ludwig Burger

BONN (Reuters) – Bayer shareholders vented their anger over its stock price slump on Friday as litigation risks mount from the German drugmaker’s $63 billion takeover of seed maker Monsanto.

Several large investors said they will not support aspirin investor Bayer’s management in a key vote scheduled for the end of its annual general meeting.

Bayer’s management, led by chief executive Werner Baumann, could see an embarrassing plunge in approval ratings, down from 97 percent at last year’s AGM, which was held shortly before the Monsanto takeover closed in June.

A vote to ratify the board’s actions features prominently at every German AGM. Although it has no bearing on management’s liability, it is seen as a key gauge of shareholder sentiment.

“Due to the continued negative development at Bayer, high legal risks and a massive share price slump, we refuse to ratify the management board and supervisory board’s actions during the business year,” Janne Werning, representing Germany’s Union Investment, a top-20 shareholder, said in prepared remarks.

About 30 billion euros ($34 billion) have been wiped off Bayer’s market value since August, when a U.S. jury found the pesticide and drugs group liable because Monsanto had not warned of alleged cancer risks linked to its weedkiller Roundup.

Bayer suffered a similar defeat last month and more than 13,000 plaintiffs are claiming damages.

Bayer is appealing or plans to appeal the verdicts.

Deutsche Bank’s asset managing arm DWS said shareholders should have been consulted before the takeover, which was agreed in 2016 and closed in June last year.

“You are pointing out that the lawsuits have not been lost yet. We and our customers, however, have already lost something – money and trust,” Nicolas Huber, head of corporate governance at DWS, said in prepared remarks for the AGM.

He said DWS would abstain from the shareholder vote of confidence in the executive and non-executive boards.

Two people familiar with the situation told Reuters this week that Bayer’s largest shareholder, BlackRock, plans to either abstain from or vote against ratifying the management board’s actions.

Asset management firm Deka, among Bayer’s largest German investors, has also said it would cast a no vote.

Baumann said Bayer’s true value was not reflected in the current share price.

“There’s no way to make this look good. The lawsuits and the first verdicts weigh heavily on our company and it’s a concern for many people,” he said, adding it was the right decision to buy Monsanto and that Bayer was vigorously defending itself.

This month, shareholder advisory firms Institutional Shareholder Services (ISS) and Glass Lewis recommended investors not to give the executive board their seal of approval.

(Reporting by Patricia Weiss and Ludwig Burger; Editing by Alexander Smith)

Source: OANN

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Sudan’s military, which ousted President Omar al-Bashir after months of protests against his 30-year rule, says it intends to keep the upper hand during the country’s transitional period to civilian rule.

The announcement is expected to raise tensions with the protesters, who demand immediate handover of power.

The Sudanese Professionals Association, which is spearheading the protests, said Friday the crowds will stay in the streets until all their demands are met.

Shams al-Deen al-Kabashi, the spokesman for the military council, said late Thursday that the military will “maintain sovereign powers” while the Cabinet would be in the hands of civilians.

The protesters insist the country should be led by a “civilian sovereign” council with “limited military representation” during the transitional period.

The army toppled and arrested al-Bashir on April 11.

Source: Fox News World

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FILE PHOTO: Small toy figures are seen in front of a displayed Huawei and 5G network logo in this illustration picture
FILE PHOTO: Small toy figures are seen in front of a displayed Huawei and 5G network logo in this illustration picture, March 30, 2019. REUTERS/Dado Ruvic

April 26, 2019

By Charlotte Greenfield

WELLINGTON (Reuters) – China’s Huawei Technologies said Britain’s decision to allow the firm a restricted role in building parts of its next-generation telecoms network was the kind of solution it was hoping for in New Zealand, where it has been blocked from 5G plans.

Britain will ban Huawei from all core parts of 5G network but give it some access to non-core parts, sources have told Reuters, as it seeks a middle way in a bitter U.S.-China dispute stemming from American allegations that Huawei’s equipment could be used by Beijing for espionage.

Washington has also urged its allies to ban Huawei from building 5G networks, even as the Chinese company, the world’s top producer of telecoms equipment, has repeatedly said the spying concerns are unfounded.

In New Zealand, a member of the Five Eyes intelligence sharing network that includes the United States, the Government Communications Security Bureau (GCSB) in November turned down an initial request from local telecommunication firm Spark to include Huawei equipment in its 5G network, but later gave the operator options to mitigate national security concerns.

“The proposed solution in the UK to restrict Huawei from bidding for the core is exactly the type of solution we have been looking at in New Zealand,” Andrew Bowater, deputy CEO of Huawei’s New Zealand arm, said in an emailed statement.

Spark said it has noted the developments in Britain and would raise it with the GCSB.

The reports “suggest the UK is following other European jurisdictions in taking a considered and balanced approach to managing supplier-related security risks in 5G”, Andrew Pirie, Spark’s corporate relations lead, said in an email.

“Our discussions with the GCSB are ongoing and we expect that the UK developments will be a further item of discussion between us,” Pirie added.

New Zealand’s minister for intelligence services, Andrew Little, did not immediately respond to a request for comment.

British culture minister Jeremy Wright said on Thursday that he would report to parliament the conclusions of a government review of the 5G supply chain once they had been taken.

He added that the disclosure of confidential discussions on the role of Huawei was “unacceptable” and that he could not rule out a criminal investigation into the leak.

The decisions by Britain and Germany to use Huawei gear in non-core parts of 5G network makes it harder to prove Huawei should be kept out of New Zealand telecommunication networks, said Syed Faraz Hasan, an expert in communication engineering and networks at New Zealand’s Massey University

He pointed out Huawei gear was already part of the non-core 4G networks that 5G infrastructure would be built on.

“Unless there is a convincing argument against the Huawei devices … it is difficult to keep them away,” Hasan said.

(Reporting by Charlotte Greenfield; Editing by Himani Sarkar)

Source: OANN

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FILE PHOTO: The logo commodities trader Glencore is pictured in Baar
FILE PHOTO: The logo of commodities trader Glencore is pictured in front of the company’s headquarters in Baar, Switzerland, July 18, 2017. REUTERS/Arnd Wiegmann

April 26, 2019

(Reuters) – Glencore shares plunged the most in nearly four months on Friday after news overnight that U.S. regulators were investigating whether the miner broke some rules through “corrupt practices”.

Shares of the FTSE 100 company fell as much as 4.2 percent in early deals, and were down 3.5 percent at 310.25 pence by 0728 GMT.

On Thursday, Glencore said the U.S. Commodity Futures Trading Commission is investigating whether the company and its units have violated some provisions of the Commodity ExchangeAct and/or CFTC Regulations.

(Reporting by Muvija M in Bengaluru)

Source: OANN

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