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U.S.’s Bolton says Pakistan committed to easing tensions with India

U.S. National Security Adviser John Bolton gives an interview to Fox News outside of the White House
U.S. National Security Adviser John Bolton walks to a Fox News interview outside of the White House in Washington, U.S., March 5, 2019. REUTERS/Leah Millis

March 11, 2019

WASHINGTON (Reuters) – White House national security adviser John Bolton said on Monday that Pakistan’s foreign minister has assured him Islamabad is committed to de-escalating tensions with India and dealing “firmly” with terrorists, after a recent suicide attack on an Indian paramilitary convoy claimed by Pakistan-based militants.

“Spoke with Pakistani FM (Shah Mehmood) Qureshi to encourage meaningful steps against JeM (Jaish-e-Mohammed) and other terrorist groups operating from Pakistan. The FM assured me that Pakistan would deal firmly with all terrorists and will continue steps to deescalate tensions with India,” Bolton said on Twitter.

(Reporting by Doina Chiacu in Washington; Editing by James Dalgleish)

Source: OANN

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FedEx partners with Walmart, Pizza Hut to test last-mile delivery robot

A handout photo of a FedEx SameDay bot, an autonomous same-day delivery robot which will be tested this summer in Memphis and other cities
A FedEx SameDay bot, which will be tested this summer by FedEx and partners such as Pizza Hut, Target and Walmart for same-day delivery in some cities including Memphis, Tennesse, U.S., is shown in this handout photo provided February 26, 2019. Courtesy FedEx/Handout via REUTERS ATTENTION EDITORS - THIS IMAGE WAS PROVIDED BY A THIRD PARTY NO RESALES, NO ARCHIVE

February 27, 2019

By Lisa Baertlein

(Reuters) – FedEx Corp this summer plans to begin testing a robot to handle home deliveries for partners ranging from Walmart Inc to Pizza Hut.

Shippers, retailers and restaurants are experimenting with robots, drones and self-driving cars in a bid to use automation to drive down the high cost of delivering gadgets, groceries and even cups of coffee the “last mile” to consumer doorsteps.

FedEx is teaming up with DEKA Development & Research Corp, whose founder Dean Kamen invented the Segway stand-up scooter and iBot stair-climbing wheelchair, for its project. The delivery company said the robots could become part of its SameDay service that operates in 1,900 cities around the world.

The battery-powered robots look like coolers on wheels. Cameras and software help them detect and avoid obstacles as they roam sidewalks and roadways at a top speed of 10 miles (16 km) per hour.

The project must win approval in test cities, including the shipper’s hometown of Memphis, and the first deliveries will be between FedEx office stores.

On average, more than 60 percent of merchants’ customers live within three miles of a store location. FedEx said it is working with its partners, which also include AutoZone Inc and Target Corp, to determine if autonomous delivery to them is a viable option for fast, cheap deliveries.

The “last mile” to the home accounts for 50 percent or more of total package delivery costs. Restaurants pay third-party delivery companies like Uber Eats, DoorDash and GrubHub commissions of 10-30 percent per order.

Investors and companies are pouring millions of dollars into projects aimed at lowering those costs and overcoming regulatory hurdles. For safety reasons, many states want autonomous vehicles to have humans as emergency backup drivers.

Starship Technologies, which has raised more than $40 million in venture funding, last year deployed robots to deliver packages in the San Francisco Bay Area.

In January, it teamed up with French food service company Sodexo to take Starbucks, Dunkin’ Donuts and Blaze Pizza orders to the 40,000 students at George Mason University’s Fairfax, Virginia, campus. That service costs $1.99 per order.

Amazon.com is testing its own delivery robot dubbed “Scout”.

FedEx rival United Parcel Service Inc is not testing robots – but like FedEx and Amazon, it is experimenting with drone deliveries.

Other tests include tie-ups between grocery seller Kroger Co and self-driving car startup Nuro, as well as DoorDash and General Motors Co’s Cruise Automation.

(Reporting by Lisa Baertlein in Los Angeles; Editing by Sonya Hepinstall)

Source: OANN

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The Latest: Venezuela judge seeks to strip Guaido’s immunity

The Latest on Venezuela's Crisis (all times local):

5 p.m.

Venezuela's chief justice is asking pro-government lawmakers to strip opposition leader Juan Guaido of immunity from prosecution.

The request by Supreme Court Justice Maikel Moreno on Monday takes a further step toward prosecuting Guaido for alleged crimes.

Guaido is seeking to oust President Nicolas Maduro with support from the United States among some 50 countries who declared Maduro's presidency as illegitimate. Moreno is a political ally of the Maduro.

Moreno asked the pro-Maduro National Constituent Assembly to waive immunity Guaido holds as a member of Venezuela's National Assembly.

Officials loyal to Maduro have already said that Guaido is under investigation for inciting violence against the government and receiving illicit funds.

__

4 p.m.

Venezuelans struggled on Monday to understand an announcement by President Nicolas Maduro that the nation's electricity is being rationed to combat daily blackouts.

Office worker Raquel Mayorca said she didn't know if her lights were off because of another power failure — or whether it was part of the government's plans.

"We are worse off now more than ever," she said, adding that the power was out on one side of the street, but working on the other. "We do not know if the light went out due to a blackout, or whether they took it away because of the rationing."

A day earlier, Maduro said that he was instituting a 30-day plan that would balance generation and transmission with consumption. He also called on Venezuelans to stay calm, but provided no further details.

Meanwhile, opposition leader Juan Guaido continued his calls for Maduro to step down and appeared to use the blackouts as political capital, saying years of neglect by the socialist government had left the grid in shambles.

"We must unite now more than ever," said Guaido at a Caracas university on Monday. "We must mount the biggest demonstration so far to reject what's happening."

As the lack of electricity became the latest sticking point in an ongoing political standoff, however, many Venezuelans simply found themselves wondering what the newly announced rationing plan would entail.

Source: Fox News World

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Khashoggi’s son comments on financial compensation by rulers

The son of slain Washington Post columnist Jamal Khashoggi says no settlement discussions have taken place and suggested that financial compensation to the family did not amount to an admission of guilt by Saudi rulers.

Salah Khashoggi described King Salman and Crown Prince Mohammed bin Salman as "guardians to all Saudis."

"Acts of generosity and humanity come from the high moral grounds they possess, not admission of guilt or scandal," he said in a statement on Twitter on Wednesday.

On April 1, the Washington Post reported the writer's children were given "blood money" in the form of million-dollar homes and monthly payments after Khashoggi's killing by Saudi agents in the Saudi consulate in Istanbul last year.

The Post, quoting Saudi officials speaking anonymously, reported the payments were approved by King Salman.

Source: Fox News World

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Chile court orders Catholic Church to compensate victims

An appeals court in Chile has ruled that the Roman Catholic Church must pay compensation to three victims of the Rev. Fernando Karadima, the country's most notorious pedophile priest.

The court in the Chilean capital said Wednesday that the church must pay about $150,000 each to Juan Carlos Cruz, Jose Andres Murillo and James Hamilton.

It overturned a lower-court ruling that found no proof of a church cover-up.

The Vatican sanctioned Karadima in 2011 by ordering him to a life of "penitence and prayer" and Pope Francis defrocked him last year.

The pope initially dismissed allegations a bishop had covered up Karadima's crimes, but later acknowledged "grave errors in judgment" and asked all active Chilean bishops to offer their resignations.

Source: Fox News World

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Exclusive: Toyota sells electric vehicle technology to Chinese startup Singulato

Singulato workers unwrap a concept car in preparation for the auto show in Shanghai
Singulato workers unwrap a concept car, dubbed the iC3, which is based on a discontinued EV of Toyota, in preparation for the upcoming auto show in Shanghai, China April 14, 2019. REUTERS/Norihiko Shirouzu

April 15, 2019

By Norihiko Shirouzu

BEIJING (Reuters) – Toyota Motor Corp has agreed to sell electric car technology to Singulato, its first deal with a Chinese electric vehicle startup, allowing the fledgling firm to speed up development of a planned mini EV.

In return, Toyota will have preferential rights to purchase green-car credits that Singulato will generate under China’s new quota system for all-electric and plug-in hybrid vehicles.

It will also gain a bird’s-eye view into how Chinese EV startups operate and the strategies they pursue in a fast-changing marketplace, said Singulato Chief Executive Shen Haiyin and two sources at the Japanese automaker.

“With electrification, autonomous driving and car-sharing shaking up the industry, old ways need to be re-examined,” one of the Toyota sources said, declining to be identified as he was not authorized to speak on the matter.

“We have a century’s lead in automotive technology, but we also need to be humble enough to learn from newcomers.”

Singulato will acquire a license to use the design of Toyota’s eQ – a battery electric microcar. The deal is due to be announced on Tuesday at the Shanghai auto show, where Singulato will unveil a concept car based on the eQ.

Singulato plans to redesign the car, tailoring it to local tastes to come up with a model by early 2021 that is more affordable and offers a longer driving range.

“This deal gives us a way to save on time and costs to develop a reliable car and focus on what we excel in,” Shen told Reuters.

Financial terms are not expected to be disclosed. A Singulato source said the startup agreed to pay “several tens of millions of dollars” for eQ’s design.

Toyota said it was taking various measures to accelerate its business in China, a key market, but it would not comment on specific steps.

The agreement is a vote of confidence by Toyota in Singulato’s prospects, said Shen. Founded in 2014 and backed by Intel Corp and Japanese trading house Itochu Corp, Singulato is one of at least 50 Chinese EV startups seeking to survive in a competitive market.

It plans to sell its first self-developed battery electric car called the iS6 this year, competing with models from rival startups like Nio and WM Motor as well as those from global automakers.

WILLING TO SHARE

Singulato’s version of the eQ will be a so-called connected car offering young buyers a host of entertainment, safety and navigation features. The car, which will be called the iC3, will also feature some self-driving technology.

Toyota sold about 100 eQ cars in 2012 and then discontinued it due to concerns over the limits of EVs, including their high price tags, short driving range and long charge time. But Singulato believes technological advances, especially in batteries, have made the car much more marketable.

Shen said the iC3 should be able to go as far as 250-300 km (160-190 miles) on a single full charge and will be priced around 100,000 yuan ($15,000). Singulato aims to sell 200,000 units over five years.

According to the two Toyota sources, the deal is part of efforts to share more technology with China as the Japanese automaker seeks more growth in the world’s largest auto market by beefing up manufacturing capacity and distribution channels.

The green-car credits will also come in handy.

Keen to combat smog, jump-start its own auto industry and lower reliance on imported oil, China is aggressively pursuing the adoption of electric cars. Under a production quota system taking effect this year, automakers are required to produce and sell a certain number of new-energy vehicles in proportion to their overall sales volume.

A carmaker that fails to achieve its quotas will have to acquire NEV points from an automaker with surplus credits or face penalties.

Toyota has said that initially it won’t be able to meet its quotas without buying credits from others. It has also agreed to produce and help sell a car for GAC Motor, a joint venture partner, to generate credits.

According to the Toyota sources, the deal with Singulato has already yielded intriguing glimpses into the thinking of Chinese EV startups and their non-traditional approach to engineering.

One such example was Singulato’s idea to look at linking headlights with satellite, cellular network location data and the driver’s planned trip. That could help turn the headlights along the driver’s route for enhanced visibility and driving safety.

It might not something Toyota would consider but as an idea, “it was eye-opening,” one of the sources said.

(Reporting by Norihiko Shirouzu; Editing by Edwina Gibbs)

Source: OANN

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Trump adviser warns Russia on military presence in Venezuela

White House national security adviser Bolton attends Trump-Rosales meeting at the White House in Washington
White House national security adviser John Bolton attends a meeting between U.S. President Donald Trump and Fabiana Rosales, wife of Venezuelan opposition leader Juan Guaido, at the White House in Washington, U.S., March 27, 2019. REUTERS/Jonathan Ernst

March 29, 2019

WASHINGTON (Reuters) – A top White House adviser on Friday issued a veiled warning to Russia about its military presence in Venezuela, saying the United States would consider any move to establish or expand military operations there a “direct threat” to international peace.

“We strongly caution actors external to the Western Hemisphere against deploying military assets to Venezuela, or elsewhere in the Hemisphere, with the intent of establishing or expanding military operations,” White House national security adviser John Bolton said in a statement. “We will consider such provocative actions as a direct threat to international peace and security in the region.” 

(Reporting by Tim Ahmann; Editing by David Alexander)

Source: OANN

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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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