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Slain teen's mother joins supporters at vigil

The mother of a black teenager shot and killed by a white police officer outside Pittsburgh told supporters at a vigil that she was glad to see her son's life celebrated at a place that meant so much to him.

Michelle Kenney, mother of 17-year-old Antwon Rose II, joined friends of supporters at a vigil Sunday afternoon at the basketball court in the Hawkins Village housing complex in Rankin, where she lives.

"This was definitely his spot right here," Kenney said. "If you was looking for Antwon, you'd find him on the basketball court."

Supporters, she said, put the event together while she was sleeping.

"I haven't slept in I don't know how long," she said. "And after the verdict was read, I literally went home and I collapsed."

Several dozen people brought red roses, which they placed on the court, as well as purple ribbons, white flowers and white candles. A poem written by Rose was read, and participants sang "What side are you on my people? What side are you on?" They then joined their hands in prayer.

"We honor the life of this young man...and I pray to God that the young black men in this circle are viewed as young men," said Nathaniel Carter, a North Braddock resident from Amplify Church who was one of the men leading the vigil.

Former East Pittsburgh police officer Michael Rosfeld had been charged with homicide in the shooting of Rose last summer. A jury acquitted him after less than four hours of deliberation. Hours after the verdict, gunshots were fired into the law office of his attorney, and the following day hundreds marched in Pittsburgh to protest the outcome of the case.

A prayer vigil scheduled Sunday night at a church in Pittsburgh's Hill District was to include prayers and singing, according to a flyer sent by organizers.

Source: Fox News National

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Estonian PM invites far-right to join cabinet

Arab league and EU summit, in Sharm el-Sheikh
Estonia's Prime Minister Juri Ratas attends a summit between Arab league and European Union member states, in the Red Sea resort of Sharm el-Sheikh, Egypt, February 25, 2019. REUTERS/Mohamed Abd El Ghany

March 11, 2019

By Tarmo Virki

TALLINN (Reuters) – Estonia Prime Minister Juri Ratas invited EKRE to coalition talks on Monday, reversing a promise to block the anti-immigrant party from the cabinet as he seeks to replace the coalition’s smallest partner, the Social Democrats.

The decision marks the first time the ultra-nationalist EKRE has access to power, but forming the coalition is far from certain as Ratas’s Centre party lost the March 3 election and the three possible coalition partners have differing views on several subjects including Russian minority.

The Centre party has since 2017 governed in a coalition with the Social Democrats and Fatherland, but the status quo was challenged by the latest election, which split the parliament’s 101 seats between Estonia’s five parties, leaving none with a majority.

Centre – which lost the elections to center-right Reform – and Fatherland decided on Monday they would seek to form a government with EKRE, saying the combination would represent voters widely across counties and political preferences.

Ratas, leader of the traditionally Moscow-leaning Centre party, had earlier ruled out governing with EKRE, which made strong gains in the latest election and almost tripled its representation in the new parliament to 19 seats.

EKRE’s fiercely anti-immigrant message lifted its support during the European migration crisis in 2015 and it has held on to the gains since.

Its gains have come as countries across the EU have recorded a surge in support for right-wing parties following the recent migrant crisis.

Opponents have been careful to give EKRE access to power, fearing nationalists and populists could hijack the agenda and force a retreat on pillars of the EU such as free movement of people and deeper economic integration.

Estonia enjoys strong economic growth and low unemployment.

Growth, however, is expected to slow this year and next, and the regional differences in the country of just 1.3 million people are vast.

EKRE won a vast number of protest votes in the counties farthest from the capital Tallinn.

Reform won 34 seats in the 101-seat parliament, while left-leaning Centre got 26 seats, conservative Fatherland 12 and the Social Democrats 10.

President Kersti Kaljulaid has promised to give the official mandate to form a government to the leader of the largest party, Reform, but this could turn out to be merely a formality if Centre, EKRE and Fatherland cut a deal before that.

(Reporting by Tarmo Virki, editing by Ed Osmond)

Source: OANN

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Tokyo’s drive to expel zombie stocks hits small caps

FILE PHOTO: Attendees take pictures of a stock quotation board after a ceremony marking the end of trading in 2018 at the Tokyo Stock Exchange (TSE) in Tokyo
FILE PHOTO: Attendees take pictures of a stock quotation board after a ceremony marking the end of trading in 2018 at the Tokyo Stock Exchange (TSE) in Tokyo, Japan December 28, 2018. REUTERS/Kim Kyung-Hoon/File Photo

February 20, 2019

By Hideyuki Sano and Tomo Uetake

TOKYO (Reuters) – The Tokyo Stock Exchange’s push to weed out small and weak firms from its main board could take years, but some fund managers are already ditching small-caps for fear they could be excluded from benchmarks.

Asia’s second largest stock exchange is expected to unveil a plan in coming months to revamp its stock market structure, in part a response to criticism that it has too many listed firms on the main board, seen as the blue ribbon segment of the bourse, and its Topix index.

“It’s good that the TSE wants to do something about the Topix index, which appears to be making Japan look full of zombie companies,” said Toru Ohara, chief investment officer at Okasan Asset Management.

“A stock market benchmark is a strategic product for a country. Having a strong stock index is one of the cheapest ways to boost the economy,” he said.

In November, there were 2,119 firms on the TSE’s first section – that compares with 292 in Euronext’s compartment A and 500 in London Stock Exchange’s Premium Listing.

And it’s not far off the 2,434 in the New York Stock Exchange in the United States, whose economy is almost four times bigger than Japan’s.

Unlike the main bourses of Wall Street and elsewhere – where the numbers of listings have shrunk due to mergers, failures to meet listing standards and bankruptcies – Tokyo’s list of counters has risen over the last three decades.

Additionally, there has been less shareholder pressure in Japan for companies to boost profits while the exchange’s exit rules are considered relatively lax.

As a result, about a third of main board’s counters are now valued at below the 25 billion yen ($226 million) mark the exchange itself sets as a minimum for new listings. Many of them also trade below their book value.

SMALL CAP WHACK

Some fund managers have already started to take the TSE’s reform drive into consideration.

“That is something investors keep in some corner of their mind,” said Yas Iwanaga, chief investment officer at Amundi Japan.

Indeed, small caps have underperformed the overall market since November, when an external panel set up by TSE to look into the issue proposed the exchange should consider having stricter rules for companies to stay on the main board.

The Topix Small, an index of all listed firms excluding top 500 companies, has fallen 5.4 percent, compared with a 2.6 percent fall in the Topix.

The Topix Small Value fared worse, falling 5.6 percent.

“I wouldn’t say small cap shares will be deserted forever. If they become cheaper, there will be some buying,” said Amundi’s Iwanaga.

Japan small cap shares: https://tmsnrt.rs/2BAcF6k

While some analysts attribute the small cap underperformance to global demand for bigger stocks, most agree a major change at the TSE would have a huge impact on markets.

“It would be such an easy, tradable idea. Small, value shares would come under major pressure,” said Masahiro Suzuki, senior quantitative analyst at Daiwa Securities.

At the same time, many investors believe attempts to trim the main board would meet corporate opposition given the prestige such listings hold in Japan.

Main board firms have better access to bank loans and are seen attracting top talent more easily.

“It even affects staff at those companies, because it is easier for people working for the main board companies to get housing loans for instance,” said an executive at asset management firm, who declined to be identified as he is not authorized to speak publicly on the matter. “You should expect very strong resistance.”

It would also be difficult to get consensus on criteria for the main board. Many investors worry that market capitalization thresholds would exclude some promising companies.

Given likely resistance, some market participants think a better solution for the TSE would be to create a new elite market above the first section, rather than kicking out existing companies.

Akiya Kiyota, CEO of Japan Exchange Group, which runs TSE, has said he personally thinks there are too many markets now, noting the current four: the first and second sections and two start-up markets.

But he has so far steered clear of saying how he wants to streamline and when he plans to make changes, citing ongoing discussion at the panel.

(Reporting by Hideyuki Sano & Tomo Uetake; Editing by Sam Holmes)

Source: OANN

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Source: InfoWars

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China-U.S. trade deal must be consistent with multilateralism: IMF

FILE PHOTO: Changyong Rhee, Director of Asia and Pacific department at IMF, speaks during a session at
FILE PHOTO: Changyong Rhee, Director of Asia and Pacific department at the International Monetary Fund (IMF), speaks during a session at the "Advancing Asia: Investing for the Future" conference in New Delhi, India, March 12, 2016. REUTERS/Anindito Mukherjee/File Photo

April 12, 2019

WASHINGTON (Reuters) – Any trade deal between China and the United States should be a long-lasting one that is consistent with multilateralism and addresses structural factors like intellectual property, a senior International Monetary Fund official said on Friday.

Changyong Rhee, director of the IMF’s Asia and Pacific department, also said market optimism over the fate of trade talks between Washington and Beijing could mean that the failure to reach an agreement could trigger a sharp market reaction.

“What we’re worried is that if there is no agreement reached, the market can react quite negatively,” he told a news conference during the spring meetings of the IMF and World Bank in Washington.

(Reporting by Leika Kihara; Editing by Paul Simao)

Source: OANN

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Sports Direct says other Debenhams investors back making Ashley boss

FILE PHOTO: People walk past a Debenhams store in Stockport
FILE PHOTO: People walk past a Debenhams store in Stockport, Britain January 4, 2018. REUTERS/Phil Noble/File Photo

April 1, 2019

LONDON (Reuters) – Sports Direct, the sportswear group that is seeking control of Debenhams, said it has been contacted by other shareholders in the department store group expressing their support to install Mike Ashley as Debenhams CEO.

Sports Direct, which has a near 30 percent stake in Debenhams, did not say how many Debenhams shareholders were backing it or name any of them.

Last year Sports Direct bought department store chain House of Fraser out of administration and has been trying to wrest control of Debenhams for months.

Sports Direct said it has set up a template letter on its website to enable any shareholders in Debenhams to make their views known.

On Friday Debenhams secured 200 million pounds ($261.4 million) in new funds but warned shareholders still faced being wiped out unless Sports Direct gave its support.

Debenhams said Sports Direct needed to either make a firm offer for the group, underwrite a rights issue, or provide debt funding if it wanted to prevent Debenhams’ ownership falling into the hands of lenders.

Sports Direct said last week it was considering a 61.4 million pound offer.

(Reporting by James Davey, editing by Louise Heavens)

Source: OANN

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Boeing invites pilots, regulators to brief about plan to support 737 MAX’s return

An aerial photo shows rowers on Lake Washington near a line of Boeing 737 MAX aircraft at the Boeing factory in Renton
An aerial photo shows rowers on Lake Washington near a line of Boeing 737 MAX aircraft at the Boeing factory in Renton, Washington, U.S. March 21, 2019. REUTERS/Lindsey Wasson

March 25, 2019

(Reuters) – Boeing Co said it invited airline pilots, technical leaders and regulators for an informational session in Renton, Washington on Wednesday, as part of an effort to share details about the plan to support the return of the 737 MAX to commercial service.

“We continue to work closely with our customers and regulators on software and training updates for the 737 MAX,” Boeing added.

(Reporting by Shubham Kalia in Bengaluru; Editing by Chris Reese)

Source: OANN

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Cambodian authorities have ordered a one-hour reduction in the length of school days because of concerns that students and teachers may fall ill from a prolonged heat wave.

Education Minister Hang Chuon Naron said in an announcement seen Friday that the shortened hours will remain in effect until the rainy season starts, which usually occurs in May. The current heat wave, in which temperatures are regularly reaching as high as 41 Celsius (106 Fahrenheit), is one of the longest in memory.

Most schools in Cambodia lack air conditioning, prompting concern that temperatures inside classrooms could rise to unhealthy levels.

School authorities were instructed to watch for symptoms of heat stroke and urge pupils to drink more water.

The new hours cut 30 minutes off the beginning of the school day and 30 minutes off the end.

School authorities instituted a similar measure in 2016.

Source: Fox News World

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Explosions have rocked Britain’s largest steel plant, injuring two people and shaking nearby homes.

South Wales Police say the incident at the Tata Steel plant in Port Talbot was reported at about 3:35 a.m. Friday (22:35 EDT Thursday). The explosions touched off small fires, which are under control. Two workers suffered minor injuries and all staff members have been accounted for.

Police say early indications are that the explosions were caused by a train used to carry molten metal into the plant. Tata Steel says its personnel are working with emergency services at the scene.

Local lawmaker Stephen Kinnock says the incident raises concerns about safety.

He tweeted: “It could have been a lot worse … @TataSteelEurope must conduct a full review, to improve safety.”

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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At least one person is reported dead and homes have been destroyed by a powerful cyclone that struck northern Mozambique and continues to dump rain on the region, with the United Nations warning of “massive flooding.”

Cyclone Kenneth arrived just six weeks after Cyclone Idai tore into central Mozambique, killing more than 600 people and displacing scores of thousands. The U.N. says this is the first time in known history that the southern African nation has been hit by two cyclones in one season.

Forecasters say the new cyclone made landfall Thursday night in a part of Mozambique that has not seen such a storm in at least 60 years.

Mozambique’s local emergency operations center says a woman in the city of Pemba was killed by a falling tree.

Source: Fox News World

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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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