Upcoming shows
Real News

NOW ON AIR
Now On Air

Story Time

1:00 am 6:00 am



Maga First News

Upcoming Shows

Join The MAGA Network on Discord

0 0

Moore ‘superbly underqualified’ for Fed, vice chair of joint congressional committee says

Rep. Carolyn Maloney (D-NY) cries as Christine Blasey Ford testifies before the Senate Judiciary Committee on Capitol Hill in Washington
FILE PHOTO: Rep. Carolyn Maloney (D-NY) cries as Christine Blasey Ford testifies before the Senate Judiciary Committee on Capitol Hill in Washington, DC, U.S., September 27, 2018. Andrew Harnik/Pool via REUTERS

April 9, 2019

By Ann Saphir

(Reuters) – Stephen Moore, the economic commentator whom President Donald Trump plans to nominate to the Federal Reserve Board, lacks the expertise and political independence needed to help set interest rates for the U.S. economy, a top Congressional Democrat said on Tuesday.

“Mr. Moore is superbly underqualified for the role for which he has been nominated,” Representative Carolyn Maloney, vice chair of the Joint Economic Committee, wrote in a letter to Republican Senator Mike Crapo and Democratic Senator Sherrod Brown, the chair and vice chair, respectively, of the Senate banking committee.

Maloney cited Moore’s “out of the mainstream views,” including support for the gold standard, and “his record of partisan statements that casts doubt on his ability to serve independently as a member of the central bank.” Moore “in no way” fits the description of a data-driven policy expert whom Maloney said is needed at the Fed to guide the economy.

The two-page letter, which includes a list of citations, ups the political pressure around Moore’s nomination, even before his name has been officially submitted to the Senate for approval as a nominee.

Moore is currently undergoing background checks for the post, a process he described on Monday as about as pleasant as a colonoscopy.

Trump has repeatedly criticized the Fed for raising rates, and his pick of Moore and former Republican presidential candidate Herman Cain for two vacant seats on the Fed Board of Governors have been framed by critics as a means for him to put pressure on the central bank to ease policy and help him politically.

Maloney took up this theme in her letter, saying that Moore has a track record of changing his policy recommendations based on his support for the president and his party.

“Letting someone with Mr. Moore’s track record take part in monetary policy decisions would threaten this independence and credibility of the Federal Reserve in its pursuit of stable prices and full employment,” she wrote https://bit.ly/2Z3MHlI.

Members of the Fed’s Board are permanent voters on the U.S. central bank’s policy-setting committee, along with the head of the New York Fed. The presidents of the 11 other regional Federal Reserve banks serve as voting members on a rotating basis.

Moore would not be the first economist without a doctoral degree at the Fed, whose current chair, Jerome Powell, is a lawyer with no academic background in economics. But Moore’s views on monetary policy, including his support for a rate cut, distinguish him from every other current Fed policymaker.

In a radio interview on Monday, Moore said, “I want to be able to accommodate these growth policies that Trump has put in place that have created the best economy in the world, probably.”

(Reporting by Ann Saphir; Editing by Leslie Adler)

Source: OANN

0 0

Trump’s Fed picks draw political fire as they angle for the job

FILE PHOTO: The Federal Reserve Board building on Constitution Avenue is pictured in Washington
FILE PHOTO: The Federal Reserve Board building on Constitution Avenue is pictured in Washington, U.S., March 27, 2019. REUTERS/Brendan McDermid/File Photo

April 10, 2019

By Ann Saphir and Trevor Hunnicutt

(Reuters) – A political feud over President Donald Trump’s picks for the U.S. Federal Reserve Board broke into an open brawl on Tuesday even before the nominations of Herman Cain, a former restaurant chain executive, and Stephen Moore, a conservative economic commentator, have been formally submitted to the Senate.

Cain and Moore, both overt loyalists to the president, in recent days have waged unprecedented public campaigns for the Fed jobs, with both eagerly endorsing Trump’s economic policies and Moore pledging to “accommodate” those policies once he is at the Fed.

The central bank’s leadership prides itself on its nonpartisan stewardship over the world’s biggest economy, and views political independence as key to its ability to carry out monetary policy effectively.

On Tuesday, Democrats including Senator Chuck Schumer and Joint Economic Committee Vice Chair Carolyn Maloney took public aim at the pair’s qualifications, with Maloney saying that Moore is “superbly underqualified for the role for which he has been nominated.”

And at least four Republican Senators indicated they could break ranks on Cain, enough to sink his chances for the required approval in the Senate.

The Trump administration is “probably going to hear from a number of our members about concerns that they have” about Cain, John Thune, the Republican whip in the Senate, told Politico.

Another Republican senator, John Cornyn, said, “Before the president starts floating names … we need to have a conversation about who is actually confirmable up here,” according to a Twitter post by New York Times reporter Glenn Thrush.

Cain and Moore are battling hard for the two vacant seats on the Federal Reserve’s Board of Governors, positions that would give them a say for years on interest-rate policy and bank regulation.

In recent days they have taken to social media and the airwaves to promote themselves and lash out at critics and anyone they view as standing in the way of Trump’s agenda or his prospects for reelection.

In an interview with Reuters on Tuesday, Moore trumpeted his agenda for economic growth and again took aim at critics.

“There are a lot of people on the left that are afraid of my ideas. They realize that they couldn’t defeat me based on my ideas, because they’re popular, and they’re right, so that leads to this kind of smear campaign, which is ugly,” Moore said.

“I have a pretty populist agenda that I’m pursuing, which is more growth, higher wages, more transparency and more sunlight on how the Fed operates,” Moore said, calling those priorities “the right things to do” and saying that he wants “to talk directly to the American people.”

“NOT SO FAVORABLY INCLINED”

Cain and Moore’s open politicking is a departure from past practice, with confirmation of Fed nominees typically a sleepy process of quizzing candidates, mostly economists with doctoral degrees, about their views on monetary policy and banking oversight.

Lewis Alexander, chief U.S. economist at Nomura Securities, said it was positive “for people’s views to be known,” but he added a note of caution. “It is certainly not a part of the Federal Reserve’s mandate to promote the chances of reelection of a particular president.”

Trump has repeatedly criticized the Fed for raising rates, saying that rate hikes are holding back the economy. His pick of Moore and former Republican presidential candidate Cain has been seen by critics as a means to put pressure on the central bank to ease policy and help him politically.

Moore and Cain have kept up unusually public profiles. Cain’s has included digs against Democrats (“lunatic liberals,” he said Monday on Facebook) and gays (a Tuesday tweet linked to a piece on Floyd Brown’s Western Journal that portrays gays as unnatural).

Cain has said he would not be disappointed if he does not get the Fed job, but has repeatedly brought it up on his daily show. In a video posted Tuesday, Cain said “a lot of people … do not like the fact” that he is under consideration and are trying to discourage the administration from nominating him because of his conservative political leanings. “The decision’s going to be made basically on the facts,” he said.

Cain remains co-chair of the America Fighting Back PAC, which was co-founded by Brown to promote Trump’s reelection. Cain’s photo and name were used as recently as last month in a letter raising funds to oppose a group of 12 senators if they ever “cross” Trump.

Two of those senators are on the Senate Banking Committee, the first stop in a two-step Senate approval process for any Fed nominee. Brown, who was the founding chairman of Citizens United, said in an interview that Cain has stepped back from day-to-day involvement in the PAC. Cain did not respond to requests from Reuters for comment.

Moore in radio and TV interviews has praised Trump’s economic record and embraced easing monetary policy, a stance that Trump himself has vigorously promoted.

People “are not going to vote against someone who has been this successful on the economy,” Moore said on Monday, adding in another interview that day that he is “looking forward to getting over to the Fed.”

Cain’s candidacy appeared by late Tuesday to be drawing the most political fire. Republican Senator Lisa Murkowski told The Hill that she is “not so favorably inclined” on Cain, whose 2012 run for president was derailed by claims of sexual harassment, which he has denied.

Republican Senate leader Mitch McConnell declined to publicly endorse him, the Washington Post reported.

It is not the first time a Fed nominee has faced political opposition. In 2011 Republicans scuttled the nomination by Democratic President Barack Obama of Peter Diamond, a Nobel laureate in economics and MIT professor, for what Republican Senator Richard Shelby then said was a lack of experience and appropriate policy preferences.

(Reporting by Ann Saphir and Trevor Hunnicutt; Additional reporting by Howard Schneider; Editing by Leslie Adler)

Source: OANN

0 0

Iran’s oil exports fall in March even before further U.S. clampdown: sources

FILE PHOTO: A gas flare on an oil production platform in the Soroush oil fields is seen alongside an Iranian flag in the Persian Gulf
FILE PHOTO: A gas flare on an oil production platform in the Soroush oil fields is seen alongside an Iranian flag in the Persian Gulf, Iran, July 25, 2005. REUTERS/Raheb Homavandi

March 21, 2019

By Alex Lawler

LONDON (Reuters) – Iran’s oil exports have dropped in March to their lowest daily level this year, according to tanker data and industry sources, even before Washington formally requires importing countries to reduce purchases to avoid infringing U.S. sanctions.

Shipments are averaging between 1.0 and 1.1 million barrels per day (bpd) so far this month, according to Refinitiv Eikon data and three other companies that track Iranian exports. That’s lower than February, when shipments were at least 1.3 million bpd.

Shipments have dropped from at least 2.5 million bpd in April 2018, the month before U.S. President Donald Trump withdrew the United States from a 2015 nuclear deal with Iran and reimposed sanctions, fueling a year of economic crisis in the country.

Tehran has vowed to keep exporting oil despite U.S. efforts to reduce its shipments to zero, but the export decline could be another indicator of economic pressure from the embargo.

In a new year speech on Thursday, Iran’s Supreme Leader Ayatollah Ali Khamenei said the Islamic Republic had resisted U.S. sanctions and called on the government to boost national production to face enemy pressures.

For the oil market, the drop in Iranian shipments will add to an OPEC-led oil supply cut and comes ahead of U.S. plans to clamp down further on Iranian exports from May, after ending of the current round of fairly generous waivers from sanctions.

Still, the Organization of the Petroleum Exporting Countries and its allies, which began cutting production from Jan. 1 to bolster prices, are unlikely to be in a rush to change course, analysts say, without concrete signs of a shortage.

“We do expect less Iranian oil exports after May,” said Sara Vakhshouri of energy consultant SVB Energy International.

“However, we don’t think that OPEC will increase its production in anticipation of lower Iranian oil exports, but only if there are clear signs of further Iran and/or Venezuelan export cuts in the market,” Vakhshouri said.

Venezuela, an OPEC member, is also under U.S. sanctions which have curbed its exports.

Iran’s export levels have become more opaque since U.S. sanctions on the country’s oil sector took effect in November, although estimates of March supplies are falling into a narrower range than in previous months.

Kpler, a company that tracks oil flows, said Iranian shipments so far in March had dropped sharply to 1.03 million bps from 1.44 million bpd in February.

“Iranian crude loadings have struggled through the first half of March,” Kpler said in a report, although it said exports would rise closer to 1.3 million bpd in the rest of March.

(Editing by David Holmes)

Source: OANN

0 0

U.S. President Trump to visit UK in June: Sky News

U.S. President Trump attends the 2019 White House Easter Egg Roll in Washington
U.S. President Donald Trump attends the 2019 White House Easter Egg Roll on the South Lawn of the White House in Washington, U.S., April 22, 2019. REUTERS/Shannon Stapleton

April 22, 2019

Source: OANN

0 0

Legal fight between moonwalker Buzz Aldrin and kids is over

A lawyer for Apollo 11 moonwalker Buzz Aldrin says a legal fight over whether Aldrin is competent to manage his affairs is over.

Attorney Keith Durkin said Wednesday that two of Aldrin's adult children have withdrawn their petition seeking guardianship of Aldrin's affairs, and the former astronaut has dropped his civil lawsuit against his children and former manager. Aldrin had accused them of financial shenanigans and slandering him.

Durkin didn't offer any further details.

The 89-year-old Aldrin says in a statement that the end of the legal fighting will help restore family harmony.

In a statement, his children, Andy and Jan Aldrin, asked for privacy in allowing the family to work through their issues.

Aldrin sued his children after they filed a petition saying their father was suffering from delusions and paranoia.

Source: Fox News National

0 0

The Latest: Hickenlooper reaches out to black voters

The Latest on the 2020 presidential race (all times EDT):

7 p.m.

Former Colorado Gov. John Hickenlooper is wrapping up three days of campaigning aimed at reaching out to black voters, who are key to a Democratic presidential effort in southern states.

Hickenlooper said Saturday in Charleston, South Carolina, that he's making an effort to "meet people where they are" in getting to know the diverse electorate in states outside his own.

Hickenlooper this week addressed the Rev. Al Sharpton's National Action Network, using his speech to the group in New York to outline his record on policing. Hickenlooper suggested that the nation "shutter some prisons altogether." He then visited a lynching memorial in Montgomery, Alabama.

On Saturday, Hickenlooper met with two survivors of a racist attack on a historic black church in Charleston, South Carolina.

South Carolina is the first state on the primary calendar with a largely black electorate.

___

3:45 p.m.

Elizabeth Warren says the Democrats running for president will have to do more than campaign on an anti-Donald Trump message if they want to take back the White House in 2020.

The Massachusetts senator says they'll have to explain their own vision for the future of the country.

Warren is visiting the early caucus state of Nevada. She tells about 500 people at a rally in a high school gymnasium in Reno that she has an ambitious agenda that would force billionaires to pay their fair share of taxes, strengthen labor unions and protect everyone's right to vote.

She says it's important to build a broad grassroots campaign in Nevada and other places now to have a chance to win next year.

Warren says that "if our message is 'not Trump,' it's not going to work."

___

3:45 p.m.

Beto O'Rourke may be competing against Pete Buttigieg (BOO'-tuh-juhj) for the Democratic presidential nomination, but the former Texas congressman is still a fan of the South Bend, Indiana mayor.

O'Rourke says "I like him a lot" when he was asked about the fact that the two politicians have a similar message and profile, and may be competing for similar voters.

O'Rourke, who's making a series of stops in Iowa, says he likes the way Buttigieg is approaching voters and "the seriousness with which he answers questions, the thought that he's put into it. I think he's terrific."

O'Rourke made the comments while leaving a house party in the Des Moines area.

___

8 a.m.

It's Bernie versus Beto in Iowa.

The 2020 Democratic presidential candidates are holding dueling events Saturday just days after Bernie Sanders won the campaign cash derby for the first quarter of the year.

The Vermont senator raised more than $18 million in 41 days, while Beto O'Rourke, a former Texas congressman, reported $9.4 million in 18 days.

Iowa hosts the nation's first nominating caucuses.

Other declared or prospective candidates are in early-voting New Hampshire and South Carolina.

Mayor Pete Buttigieg (BOO'-tuh-juhj) of South Bend, Indiana, along with Sens. Kirsten Gillibrand (KEER'-sten JIHL'-uh-brand) of New York and Michael Bennet of Colorado are visiting New Hampshire.

John Hickenlooper, a former Colorado governor, is meeting with survivors of the 2015 church massacre in Charleston, South Carolina.

Source: Fox News National

0 0

Dingell: Dems Spending ‘Lot of Energy’ on Unlikely Impeachment

Some Democrats are spending a "lot of energy" on impeachment when it is "very unlikely" to happen when they should instead focus on reforming healthcare, Rep. Debbie Dingell said Thursday.

"I think an impeachment would divide this country if we were not done it a bipartisan basis," the Michigan Democrat told Fox News' "Outnumbered Overtime." "I think everybody loves to speculate about this, but the fact of the matter is that I am focused on working an agenda for the people and that Republicans and Democrats need to worry about delivering for the American people on prescription drugs and infrastructure."

She further refused to speculate on special counsel Robert Mueller's report, before it has been released.

"I will not engage in parsing words on a report I have not seen," Dingell said. "None of us have seen it. We don't know what's in it. We've had a lot of people make assumptions on both sides."

Dingell said she's also focused on trade, as "we need a level playing field for our workers."

Meanwhile, Dingell said she's co-chairing the Medicare for All caucus because she thinks all Americans have the right to affordable, quality healthcare "so that if they are sick they don't worry about going to the doctor."

Trump also needs to concentrate on healthcare reform before the 2020 election, not after, said Dingell.

"Isn't it about time that every person that lives in this country, if they are sick, doesn't have to worry about if they have cancer, whether it's worth having a mammogram because they can't get the treatment?" she said.

Source: NewsMax Politics

NOW ON AIR
Now On Air

Story Time

1:00 am 6:00 am



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

Listen to https://magaoneradio.net and Listen Daily! Don't Forget to Share Click a Link Below!
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

Listen to https://magaoneradio.net and Listen Daily! Don't Forget to Share Click a Link Below!

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

Listen to https://magaoneradio.net and Listen Daily! Don't Forget to Share Click a Link Below!
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

Listen to https://magaoneradio.net and Listen Daily! Don't Forget to Share Click a Link Below!
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

Listen to https://magaoneradio.net and Listen Daily! Don't Forget to Share Click a Link Below!

Listen to https://magaoneradio.net and Listen Daily! Don't Forget to Share Click a Link Below!
Current track

Title

Artist