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Tycoons tell Mexico’s president that unions ‘extorting’ businesses

State police armoured vehicles patrol at an industrial park where employees from some plants are on strike in Matamoros
FILE PHOTO: State police armoured vehicles patrol at an industrial park where employees from some plants are on strike in Matamoros, state of Tamaulipas, Mexico Janaury 29, 2019. REUTERS/Stringer

February 19, 2019

MEXICO CITY (Reuters) – A group representing some of Mexico’s biggest companies told left-wing President Andres Manuel Lopez Obrador on Monday that politicians should resist “extortion” by labor unions after strikes and blockades in recent weeks.

Alejandro Ramirez, president of the Mexican Business Council, said strikes at factories in the northern state of Tamaulipas and blockades of railways by a teachers union had caused more than a billion dollars in losses and could cause businesses to close.

Members of the group, including Mexico’s second-richest man, German Larrea, who controls mining and transport conglomerate Grupo Mexico, were critics of Lopez Obrador before his July 1 election, warning voters should be wary of populism.

“In labor matters, we look favorably on Mexicans starting a new era of union freedom that will allow the end of old protectionist practices for a few unions and companies,” said Ramirez, chief executive of cinema chain Cineopolis.

“Freedom of association and respect of the rule of law should be the axis of this new labor reform. For that reason, we make a respectful call to lawmakers of all parties that it doesn’t just guarantee union freedom but also avoids union extortion.”

Since taking office, Lopez Obrador and members of the ruling party have sought regulation in areas ranging from banking and pensions to mining to make services cheaper for consumers.

The former Mexico City mayor wants to encourage investment to drive growth, but some worry regulation will be heavy handed and unpredictable.

MORENA, the party created by Lopez Obrador, is planning a reform to make it easier for workers to form independent unions. Traditionally, unions have allied with the former party of power, the Institutional Revolutionary Party.

Lopez Obrador brought veteran union leader Napoleon Gomez into his party as a senator. Gomez has a history of conflict with Grupo Mexico, including strikes.

Gomez last week founded a federation called the International Workers Confederation.

Monday’s event was the first time the group met with Lopez Obrador since he took office in December. Earlier in the day, he met the Council for Investment Promotion, Job Creation and Growth, a body he created to advise on economic policy.

Labor strikes in January at manufacturers in the Mexican city of Matamoros on the U.S. border cost about $50 million a day in unfulfilled international contracts.

Teachers from the National Committee of Education Workers blocked railroad tracks for weeks in January to protest labor demands.

(Reporting by Sharay Angulo; Writing by Frank Jack Daniel; Editing by Peter Cooney)

Source: OANN

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“Not a good situation”: Trump Denounces TSA Child Grope Video

President Trump on Tuesday condemned the TSA after a viral video resurfaced showing a young boy being subjected to an invasive pat-down at a US airport.

“Not a good situation,” the president commented, retweeting a video shared by comedian Larry the Cable Guy and actor James Woods which was originally shared by @DeepStateExpose.

The president’s eldest son Don Jr. also chimed in, saying, “This is sickening.”

“I’m sure this young man could have been deemed to not be a threat in a matter of seconds. Wtf!” Don Jr. tweeted.

The video, which first appeared in 2017, shows a boy at Dallas’ JFK airport undergoing a full pat-down which lasted approximately two minutes.

At the time the boy’s mother, Jennifer Williamson, who filmed the encounter, also mentioned her son suffered from a sensory processing disorder, compounding the incident’s absurdity.

As the video went viral, the TSA went into damage control mode, penning a blog post titled, “TSA Mythbuster: The Rest of the DFW Pat-down Story,” which attempted to explain why the over-the-top search was required.

While Trump intended to highlight the perverse nature of the search, The Washington Post focused on the origin of the person who the president retweeted, who they described as a “follower of the QAnon conspiracy theory.”

Trump’s retweet of @DeepStateExpose, who was identified as conspiracy-minded Twitter user Jeremy Stone, will likely “raise new questions about where a president fond of spreading conspiracy theories gets his information,” The Post writes.


Source: InfoWars

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Trump EPA Chief Triggers MSNBC Anchors For “Downplaying Climate Change”

MSNBC anchors Ali Velshi and Stephanie Ruhle were frustrated by Trump EPA Administrator Andrew Wheeler saying climate change isn’t an immediate threat.

Ruhle declared, “The Trump administration has managed to downplay the impact of climate change again. Andrew Wheeler, the new EPA administrator, insisted the effects of manmade global warming are not here yet.”

In an interview with CBS correspondent Major Garrett on Wednesday, Wheeler explained his position on climate change.

“When you hear Democrats running for nomination in 2020 say we’re in a catastrophic situation, is there anything unreasonable about those impressions or that rhetoric?” Garrett asked.

Wheeler responded, “Yes, I think it is unreasonable. On the climate change, it is an important issue that we have to be addressing, and we are addressing it, but most of the threats from climate change are 50 to 75 years out.”

Ruhle responded to Wheeler’s comment, saying, “Well, for facts sake, climate change is here, happening right now. Like the historic record-breaking flooding that ripped through the Midwest. You know when what happened? This week.”

Speaking with former Obama administration EPA Administrator Gina McCarthy, Velshi complained, “It’s sort of beyond frustrating that an EPA administrator would say that a matter 50 to 75 years out is not important.”

McCarthy said the Trump administration is acting like “they’re blind and all of these things are happening around them that threaten our lives, that threaten our public health, that are destroying communities, destroying farmland, that are killing and impacting millions of people across the world…”

The issue is that McCarthy never explains what “these things” are.

Source: InfoWars

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Sounders brace for angry Rapids

MLS: Colorado Rapids at Orlando City SC
Apr 6, 2019; Orlando, FL, USA; Colorado Rapids midfielder Cole Bassett (26) celebrates with teammates after scoring a goal against the Orlando City SC during the second half at Orlando City Stadium. Mandatory Credit: Kim Klement-USA TODAY Sports

April 9, 2019

The Colorado Rapids were left seeing red after their last match Saturday at Orlando City.

Only not the type of red they wanted.

The Rapids (0-4-2), who play host to the Seattle Sounders (4-0-1) on Wednesday night in Commerce City, Colo., held a one-goal lead midway through the second half when Orlando City’s Nani went down inside the penalty box after a challenge by Kellyn Acosta.

Nani, upset that he didn’t receive a penalty kick from referee Jair Marrufo, jumped to his feet and appeared to twice head-butt Acosta.

“It’s in the FIFA rulebook. That’s a red card,” Rapids striker Kei Kamara told the Denver Post. “We’ve seen softer red cards.”

To make matters worse for the Rapids, Orlando City rallied to tie the score, and then Nani made a penalty kick in the 89th minute for the winner in a 4-3 match.

“These things affect results,” Rapids coach Anthony Hudson told the Post. “The story line is Nani’s goals and the comeback, but the reality is he shouldn’t have been on the pitch.”

It was the second consecutive game in which Rapids yielded four goals, giving them a league-high 16 goals allowed.

That doesn’t bode well against a Seattle side that is tied for fourth in MLS with 11 goals scored. The Sounders have allowed a league-low three goals.

The Sounders are 18-5-2 all-time against the Rapids, including a 2-0 victory in Seattle in the second week of this season. Kelvin Leerdam and Raul Ruidiaz scored in the opening eight minutes, and Stefan Frei posted a shutout.

The Sounders, who have a history of slow starts, are off to their best this season.

Seattle coach Brian Schmetzer said because of that history, the Sounders won’t be looking past the Rapids.

“MLS is such, and we know it all too well, you can start off slow and continue (to the playoffs),” Schmetzer told reporters after practice Monday. “(The Rapids) will be a desperate team that will be at home and will try to get as many points as possible. This is MLS, we’re not taking anything for granted or lightly at all.”

The Sounders hope to have Ruidiaz, a forward who shares the team lead with three goals, back after he missed Saturday’s 1-0 home victory against Real Salt Lake with an ankle injury.

–Field Level Media

Source: OANN

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Macron’s pro-EU party kicks off European Parliament campaign

With Brexit looming and nationalism rising, French President Emmanuel Macron's pro-EU party is launching its campaign for the European Parliament elections.

The centrist Republic on the Move party and allies are holding a rally Saturday in the Paris suburb of Aubervilliers. The grouping calls itself Renaissance.

Polls suggest Renaissance will be among France's top two vote-getters in the May elections, alongside Marine Le Pen's anti-immigration, far-right National Rally.

Saturday's Renaissance rally will be led by Nathalie Loiseau, who quit this week as France's European Affairs minister to lead the campaign.

Popularity is growing in some EU countries for politicians who want to reinstate borders and roll back European cooperation built since World War II.

French voters will fill 79 of the European legislature's 705 seats. Macron hopes his pro-EU vision can inspire voters beyond France's borders, too.

Source: Fox News World

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Bad weather gives IS militants in Syria a second wind

U.S.-backed Syrian forces say Islamic State militants have taken advantage of dusty and windy conditions to wage multiple counterattacks from their last speck of land in eastern Syria.

Windy conditions continued on Thursday, a day after IS in the Syrian village of Baghouz took advantage of bad weather to launch counterattacks on advancing U.S.-backed and Kurdish-led forces.

The wind and dust gave the extremists a reprieve from air strikes and air reconnaissance. They also burned tires and oil to thicken the air cover above their tent encampment in Baghouz where an unknown number remain holed up.

The U.S.-backed Syrian forces' spokesman, Adnan Afrin, said late Wednesday they engaged in intense clashes with the militants, who sent suicide bombers to target the forces and blast open gaps in their lines.

Source: Fox News World

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Rabid fox attacks New Jersey woman, daughter uses ax, shovel to kill it: report

A woman was bitten twice by a rabid gray fox in New Jersey on Saturday afternoon, prompting her daughter to use an ax and a shovel to try to kill the animal, according to Animal Control officials.

The woman, who lives on a farm in Blairstown, N.J., had gone outside to feed her cats when she was attacked, according to the New Jersey Herald.

Animal Control Officer Scott Hendricks told the outlet that the fox had already killed one cat when it went after the woman.

GOLFER ATTACKED BY BOBCAT IN CONNECTICUT: AUTHORITIES

“The woman had cat chow in her hand and threw it at the fox to deter it, but it attacked her and bit her twice on the leg before she made her way inside her house,” he said.

Her daughter heard the commotion and went outside. At first, she mistook the gray fox for a cat, after it went under the front porch, according to the Morristown Daily Record.

A woman was bitten twice by a rabid gray fox in Blairstown, N.J., on Saturday, according to Animal Control officials. The fox killed one of her cats and the woman's daughter tried to kill it by throwing an ax at it and hitting it with a shovel. (iStock)

A woman was bitten twice by a rabid gray fox in Blairstown, N.J., on Saturday, according to Animal Control officials. The fox killed one of her cats and the woman's daughter tried to kill it by throwing an ax at it and hitting it with a shovel. (iStock)

"The fox came out after her,” Hendricks told the outlet. “She had an ax, which she threw at it and missed. The fox went after the ax, then turned back at her."

The second time around, the daughter reportedly used a shovel to hit the fox on the head. She “kind of knocked it out,” Hendricks said, and by then two men in a truck heard her calling for help.

“They stopped, the one guy got out, took the shovel and held the fox down until it was deceased,” Hendricks told the Daily Record. “He actually suffocated it.”

GREAT WHITE SHARK WEIGHING 1,668 POUNDS SPOTTED OFF FLORIDA PANHANDLE, RESEARCHERS SAY

The woman was taken to a nearby hospital. Hendricks arrived after the ambulance left and picked up the fox’s body.

He had to keep it refrigerated until Monday before he could take it to the Blairstown Animal Hospital to have the fox’s head removed so it could be sent to the Department of Health to be tested for rabies.

By Tuesday, Hendricks was told the fox had tested positive for the disease.

He called the woman and her daughter and thankfully she had reportedly already started rabies treatment at the hospital.

“If a person gets bit by a suspect animal, they have five days before they need to begin treatment,” Hendricks told the Daily Record. “We were right up against that five-day buffer.”

The woman had also received a tetanus shot, according to the New Jersey Herald. The outlet also reported she had received two of her four rabies shots by Wednesday.

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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