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2020 candidate Andrew Yang defends $1,000 a month program, slams Dems for wanting to abolish Electoral College

Democratic presidential candidate Andrew Yang appeared on “Fox and Friends” Friday morning to defend his campaign’s key proposal of giving $12,000 to each American adult every year and criticized Democrats for their newfound support for the abolition of the Electoral College.

Yang, former ambassador of global entrepreneurship in the Obama administration and a long-shot candidate for the party’s nomination, was grilled by the show hosts and the audience about his universal basic income program, dubbed “Freedom Dividend,” and his other views.

“You have to look up who are going to be the biggest winners from artificial intelligence and self-driving cars and trucks and new technologies. Amazon, Google, Facebook and Uber. The American people are gonna see very little of the gains in the innovation,” said Yang.

"The American people are gonna see very little of the gains in the innovation."

— Andrew Yang

He added that due to an increasing automation, “most of us” won’t work at Amazon or other companies, leaving the rest of the people at a disadvantage because their source of income will disappear.

DEM 2020 CANDIDATE ANDREW YANG STANDS BY 'FREEDOM DIVIDEND'

Yang points out that his idea isn’t new in American politics as Alaska has had a petroleum dividend for about 40 years and remains to be widely popular among the people.

“Petroleum dividend works put aside the oil money whatever profits come out from the pipeline it goes to the Alaskan people. Everyone in Alaska is getting between $1 and $2,000 a year no questions asked.

“We need to do the same thing with technology and the new innovations in our economy. We can create a lot of the wealth. But the question is right now who is going to see that wealth? It's not going to be most Americans. It's going to be people who happen to be shareholders in these companies,” he added.

“We need to do the same thing with technology and the new innovations in our economy. We can create a lot of the wealth. But the question is right now who is going to see that wealth? It's not going to be most Americans. It's going to be people who happen to be shareholders in these companies.”

— Andrew Yang

Yang was also asked by the audience on issues other than his bold proposal, particularly whether he believes the Electoral College ought to be abolished, a view shared by leading 2020 presidential candidate Elizabeth Warren.

ELIZABETH WARREN SAYS SHE WANTS TO ELIMINATE THE ELECTORAL COLLEGE

“Getting rid of the Electoral College to me, I don't even know why we are talking about it in the sense that it has been part of our laws for decades and it would require a constitutional amendment to change Electoral College,” Yang said in response to a question from the audience.

“Do we really just want candidates just campaigning in major media markets and cities? The constitutional framers were very wise. I will say as a Democrat, it's very, very bad form to look like you’re trying to change the rules when you’ve been losing by the rules that everyone agreed on for decades.”

"I will say as a Democrat, it's very, very bad form to look like you’re trying to change the rules when you’ve been losing by the rules that everyone agreed on for decades.”

— Andrew Yang

He also reiterated during the show that his “Freedom Dividend” proposal isn’t a free lunch given to people while making it harder to become an American success story. Instead, he says, it’s a response to a changing economy that will negatively impact communities across the country.

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“We have to face facts about the fact our economy is evolving in ways that are pushing more and more Americans to the sidelines and telling those Americans pushed to the sidelines like hey, you can be a multimillionaire success story, too, while Amazon is making 30% of the stores in their town closed doesn’t seem to be honest,” he said.

Source: Fox News Politics

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Gale force winds sweep across Croatian coast

Gale force winds have swept across much of the Croatian Adriatic coast, toppling trees, damaging cars and shattering windows.

There were no reports of major injuries.

Croatia's weather bureau said Saturday that gusts in the region of the Adriatic port of Split reached 191 kilometers per hour (118 miles per hour.)

Land, air and sea traffic have been disrupted and several small wind-driven fires erupted on the central Dalmatian coast. One firefighter was slightly injured while tackling the blaze.

Some streets in Split and surrounding towns have been closed because of flying glass and tiles.

Emergency services have received hundreds of calls from worried inhabitants seeking help.

Source: Fox News World

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Rep. Steube on Trump investigations: ‘When is enough enough?’

Rep. Greg Steube, R-Fla., called for the end of investigations into President Trump on Wednesday, saying Americans would not "learn" anything more from such actions.

"When is enough enough? You know, you've had 22 months to investigate, you've had $25 million that was spent with 18 lawyers, 2,800 subpoenas, 500 search warrants and 500 witness interviews. At one point, you say, 'okay, we've done enough investigations,'" Steube said on "Your World with Neil Cavuto," referring to Special Counsel Robert Mueller's probe.

"And, with all that investigation, it comes with no collusion, and the attorney general decides not to have any obstruction charges," he told Neil Cavuto.

TRUMP VOWS HE’D TAKE IMPEACHMENT FIGHT TO SUPREME COURT

Trump on Wednesday vowed to fight back against congressional Democrats issuing subpoenas for administration officials, while calling their latest bid to bring in former White House counsel Don McGahn for testimony “ridiculous.”

Steube said that enough time and effort was spent in the Russia collusion investigation and that it was time for the country to move on.

DEM LEADERS REJECT IMMEDIATE IMPEACHMENT PROCEEDINGS

"What are we going to learn from these hearings from the people that are part of this report that we haven't learned already?" Steube asked.

The congressman also said he had no interest in hearing from McGahn and believed the president had every right to claim executive privilege.

Fox News' Brooke Singman contributed to this report.

Source: Fox News Politics

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Fight brews over expected blacked out portions of Mueller report

Special Counsel Mueller arrives at his office in Washington
Special Counsel Robert Mueller arrives at his office in Washington, U.S., April 17, 2019. REUTERS/Joshua Roberts

April 17, 2019

By David Morgan and Sarah N. Lynch

WASHINGTON (Reuters) – Congressional Democrats could move forward quickly – as early as Monday – with subpoenas to obtain Special Counsel Robert Mueller’s full report on Russian interference in the U.S. 2016 election, after Attorney General William Barr releases a version on Thursday that may have significant portions blacked out.

A day before the planned release of a redacted version of the report, President Donald Trump went to Twitter to renew his attacks on the special counsel’s investigation and the FBI.

When the report is released, close attention will be given not only to potential new details on the Trump campaign’s contacts with Russia and the question of whether the Republican president acted to impede the inquiry, but also on how much Barr elects to withhold.

The Democratic-led House of Representatives Judiciary Committee voted on April 3 to authorize its chairman, Jerrold Nadler, to issue subpoenas to the Justice Department to obtain Mueller’s unredacted report and all underlying evidence, as well as documents and testimony from five former Trump aides.

A source familiar with the matter said Nadler could issue subpoenas as early as Monday. The source, speaking on condition of anonymity, said Friday would be too early for subpoenas unless the entire report were to be blacked out.

“Chairman Nadler has said that subpoenas could come very quickly if we do not receive the full, unredacted report with the underlying evidence from DOJ. We will have to see what comes out on Thursday,” committee spokesman Daniel Schwarz said in a statement, using an acronym for the Justice Department.

The department this week said the report would be released on Thursday to both Congress and the public, a day before the major religious holidays of Good Friday and Passover.

Barr, who has broad authority to decide how much of the report to release, has promised to be as transparent as possible, but told lawmakers he would redact four categories of content: secret grand jury information, intelligence-gathering sources and methods, information relating to active cases and information could affect the privacy of “peripheral third parties” who were not charged.

The redactions, to be color coded to reflect the reason they were omitted from the final report, have Democrats seeing red. They have expressed concern that Barr, a Trump appointee named after the president fired former Attorney General Jeff Sessions, could black out material to protect the president.

Mueller on March 22 submitted to Barr a nearly 400-page report on his 22-month investigation into whether the Trump campaign worked with Moscow to sway the election in his favor, and whether Trump committed obstruction of justice with actions to impede the inquiry.

In a letter to lawmakers two days later, Barr said Mueller did not find that members of Trump’s campaign engaged in a criminal conspiracy with Russia. Barr said he determined there was not enough evidence to establish that Trump committed the crime of obstruction of justice, though Mueller did not exonerate Trump on obstruction.

Since then, Trump has set his sights on the FBI, and accused the Justice Department of improperly targeting his campaign. Last week, Barr told a U.S. Senate panel he believed “spying” did occur on Trump’s campaign, and he plans to investigate whether it was properly authorized.

A federal judge criticized Barr during a Tuesday hearing on a Freedom of Information Act lawsuit demanding access to the Mueller report, according to media reports.

“The attorney general has created an environment that has caused a significant part of the public to be concerned about whether or not there is full transparency,” U.S. District Court Judge Reggie Walton was quoted as saying.

Walton said he could ask to review the full document after a redacted version is released, but denied a request by a media outlet, Buzzfeed News, to speed up the process.

(Reporting by David Morgan and Sarah N. Lynch; Writing by Doina Chiacu; Editing by Will Dunham)

Source: OANN

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Mir card payment system looks beyond Russia

CEO of NSPK Komlev attends an interview with Reuters in NSPK office in Moscow
CEO of Russian National Payment Card System (NSPK) Vladimir Komlev attends an interview with Reuters in NSPK office in Moscow, Russia March 21, 2019. REUTERS/Maxim Shemetov

April 19, 2019

By Tatiana Voronova and Gabrielle Tétrault-Farber

MOSCOW (Reuters) – After Western sanctions gutted Russia’s financial system five years ago, a new bank card began appearing in the wallets of many Russians.

Now the country is hoping to introduce its cards, known as Mir cards, to foreign markets where Russian nationals live and travel, Vladimir Komlev, the head of Russia’s National Card Payment System (NSPK), told Reuters in an interview.

“In the next three years we want Mir cards to be operational in countries where Russians are used to traveling,” Komlev said. “It’s the hardest task in terms of returns on investment.”

Russia created its own card payment system in 2014 because it feared U.S. and European sanctions against some Russian banks and businesspeople over the annexation of Crimea could block transactions made with U.S.-based Mastercard and Visa.

NSPK said Turkey’s Isbank had started accepting Mir cards as of Thursday. Russians made 5.7 million trips to Turkey last year, according to state statistics agency Rosstat.

Komlev projected Mir cards would be operational at some banks in 12 foreign countries by the end of the year. He would not, however, disclose which countries those might be.

NSPK is not subject to Western sanctions, but some foreign companies are wary of doing business with Russian firms in case further restrictions are put in place.

EXPANDING AT HOME

More than 56 million Mir cards have been issued and they currently make up more than 20 percent of Russia’s bank card market, Komlev said.

Mir means “World” or “Peace” in Russian.

NSPK, which was created by the central bank, has received a boost from legislation obliging civil servants to receive their salaries on Mir cards. It aims for Mir cards’ share of the market to reach 30 percent over the next couple of years.

Starting next year, pension payments, as well as child and unemployment benefits, will only be paid on the cards.

These measures have made Mir a rival to Mastercard and Visa in Russia. But its shortcomings – its incompatibility with many international shopping platforms and its limited use outside Russia – have prompted Russian officials to call for more support to help it to take on U.S. competitors.

“At this time, it’s difficult for Mir to compete with Visa and Mastercard,” Valentina Matviyenko, the speaker of the upper house of the Russian parliament, said this month. “We need to develop its functionality, its social orientation.”

Mastercard, which operates a co-branded card with Mir, said it “supported the development of the payment industry and fair competition.” Visa did not reply to a request for comment.

Mir has develop its own “Mir Pay” smartphone application and is available on Samsung Pay. Komlev said NSPK had not reached an agreement with Apple to make Mir cards available on its mobile payment platform.

Komlev said another of NSPK’s priorities was to get major international online booking services for airline tickets and accommodation to accept Mir cards.

“Business and geopolitics have mixed here, so it’s not as easy to implement as we would like,” he said.

(Reporting by Tatiana Voronova and Gabrielle Tétrault-Farber; Additional reporting by Andrey Ostroukh; Editing by Mark Potter)

Source: OANN

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Tennis: Federer and Nadal roll into quarters at Indian Wells

Tennis: BNP Paribas Open-Day 10
Mar 13, 2019; Indian Wells, CA, USA; Rafael Nadal (ESP) during his fourth round match as he defeated Filip Krajinovic (not pictured) in the BNP Paribas Open at the Indian Wells Tennis Garden. Mandatory Credit: Jayne Kamin-Oncea-USA TODAY Sports

March 13, 2019

(Reuters) – Roger Federer and Rafa Nadal remained on course for a mouthwatering semi-final clash at the BNP Paribas Open with straightforward fourth-round victories in the California desert on Wednesday.

Federer needed just over an hour to dispatch Briton Kyle Edmund 6-1 6-4 in their first career meeting and reach the quarter-finals on a sunny and breezy day in Indian Wells.

Next up for the 20-times Grand Slam champion is another unknown quantity in Pole Hubert Hurkacz, who defeated Canadian teenager Denis Shapovalov 7-6(3) 2-6 6-3 earlier in the day to set up his first career meeting with the Swiss Master.

Nadal, 17 times a Grand Slam winner, ruthlessly put an end to Serbian qualifier Filip Krajinovic’s run at the tournament, converting three of his four break point opportunities to advance 6-3 6-4.

Neither Federer or Nadal have dropped a set in their three matches at Indian Wells, a tournament Federer has won five times and Nadal three.

In other fourth-round action, hard-hitting Canadian Milos Raonic saved all three of Jan-Lennard Struff’s break point opportunities to down the German 6-4 6-3.

The 13th seed will square off against either France’s Gael Monfils or Germany’s Philipp Kohlschreiber in the quarter-finals on Thursday.

(Reporting by Rory Carroll, editing by Nick Mulvenney)

Source: OANN

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Italian police seize assets from four banks in diamonds probe: source

The Intesa Sanpaolo logo is seen in Milan
FILE PHOTO: The Intesa Sanpaolo logo is seen in Milan, Italy, January 18, 2016. REUTERS/Stefano Rellandini

February 19, 2019

MILAN (Reuters) – Italy’s tax police carried out a seizure order for more than 700 million euros ($794 million) on Tuesday as part of a probe targeting the country’s top four banks over alleged fraudulent diamond sales, a source close to the matter said on Tuesday.

Milan prosecutors have been investigating two diamond brokers and banks Intesa Sanpaolo, UniCredit, Monte dei Paschi and Banco BPM with its Aletti unit over sales of diamonds to customers as an investment.

All four banks declined to comment.

Diamond brokers have been using Italian banks to sell high-quality investment diamonds in a business that totaled at least 300 million euros in sales in 2015, according to broker data.

A TV report in 2016 first shed light on alleged mis-selling of diamonds to the public.

Consumer associations also said they had received complaints. In several cases, people have told Reuters that diamonds they had bought as an investment were valued at a much lower price than they paid for them.

Diamond sales have taken off amid negative interest rates which have curtailed bank revenues and made several other investments unattractive for clients.

Banks make a one-off commission of at least 10 percent on diamond sales, in return for putting the diamond brokers in touch with their clients, between whom the contract is signed.

The business usually accounts for no more than 2 percent of a lender’s total fees.

(Reporting by Sara Rossi; Additional reporting by Gianluca Semeraro and Valentina Za; Editing by Edmund Blair)

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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