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

Musk’s lawyers say U.S. SEC has not met heavy burden to show contempt

FILE PHOTO: Musk looks on at SpaceX Falcon 9 post-launch news conference in Cape Canaveral
FILE PHOTO: SpaceX founder Elon Musk looks on at a post-launch news conference after the SpaceX Falcon 9 rocket, carrying the Crew Dragon spacecraft, lifted off on an uncrewed test flight to the International Space Station from the Kennedy Space Center in Cape Canaveral, Florida, U.S., March 2, 2019. REUTERS/Mike Blake

March 22, 2019

NEW YORK (Reuters) – Lawyers for Elon Musk said on Friday that the U.S. Securities and Exchange Commission had failed to satisfy its heavy burden of showing that the Tesla Inc chief executive should be held in contempt of court.

In a Manhattan federal court filing, Musk’s lawyers also said their client “respects his obligations” to the electric car company, its shareholders and the court.

Musk is trying to avoid being held in contempt for violating his October 2018 fraud settlement with the SEC, for having tweeted on Feb. 19 to his more than 24 million Twitter followers that Tesla could build around 500,000 vehicles in 2019.

(Reporting by Jonathan Stempel in New York, editing by G Crosse)

Source: OANN

0 0

Pope visits Italy’s ‘flying house’ to sign papal document

Pope Francis visits the Shrine of Our Lady of Loreto on the feast of the Annunciation, in Loreto
Pope Francis kisses a baby during a visit to the Shrine of Our Lady of Loreto on the feast of the Annunciation, in Loreto, Italy March 25, 2019. REUTERS/Yara Nardi

March 25, 2019

LORETO, Italy (Reuters) – Pope Francis on Monday visited a small stone structure that some Catholics believe was the house of the Madonna, mother of Jesus Christ, and that was miraculously flown by angels from the Holy Land to the Adriatic coast.

Francis traveled to the city of Loreto, site of one of Italy’s most visited religious shrines, where he said a Mass, comforted many sick people, and signed a paper he has written on the role of young people in the Church.

The document, known as a “apostolic exhortation,” is his assessment of a month-long synod of bishops at the Vatican last year.

The document, now being translated from the original Spanish, is expected to tell young people that they should not be obsessed with doctrinal minutiae but blend the Church’s rules with social activism to help those in need. It is due to be published soon.

According to popular tradition, the tiny house at Loreto was where the Madonna lived in Nazareth and where, according to the Bible, an angel appeared to her to tell her she would give birth to Jesus. Monday is a religious holiday, the Feast of the Annunciation, marking this event.

The house, known as the Holy House of Loreto or the Flying House of Loreto, was miraculously saved by angels so it would not be destroyed after Christian crusaders were expelled from Palestine in the 13th century, according to the tradition.

A more earthly explanation, also offered on the shrine’s website as an alternative, is that a wealthy family of merchants who ruled over what is now part of Greece and Albania and whose surname was Angeli (angels), had the stones brought over by ship.

The house is now part of a large basilica that attracts hundreds of thousands of pilgrims each year.

In his address to crowds in the square outside the shrine, Francis did not mention the tradition but said Loreto was a place of spirituality, faith and devotion.

(Reporting by Philip Pullella; Editing by Frances Kerry)

Source: OANN

0 0

Chinese visit to Italy seeks closer ties, stirs suspicions

At the heart of Chinese Premier Xi Jingping's visit to Rome beginning Thursday is a key prize: A deal to make Italy the first major democracy to join China's ambitious Belt and Road infrastructure project that has raised concerns about Beijing's growing economic clout.

Italian Premier Giuseppe Conte has pledged to sign the memorandum of understanding on Saturday, despite objections from U.S. allies and doubts within the coalition government that it could give China greater political influence in Europe and the West.

But Xi's visit, at the invitation of Italian President Sergio Mattarella, also aims more broadly at deepening trade and cultural ties. Conte has even suggested that Italy could play a role in easing tensions over trade between China and the United States.

Mattarella told the Chinese stat-run news agency Xinhua Thursday that the visit is an expression of the "solidity of the bond and mutual respect" between the two countries, which will celebrate 50 years of diplomatic relations in 2020.

Xi's visit includes a meeting with Mattarella and a wreath-laying at Italy's monument for unknown soldiers on Friday. On Saturday, Conte will sign the infrastructure deal and Xi will visit the Sicilian city of Palermo before departing Sunday.

Here's a look what's at stake with the visit.

____

INFRASTRUCTURE

Italy's signature on the ambitious "Belt and Road" infrastructure-building project would give legitimacy to a project that envisions overland and maritime routes connecting China with Europe, reviving the old Silk Road traveled by Marco Polo in the Middle Ages. The initiative encompasses about 60 countries through Asia and Africa to Europe.

Conte has dismissed concerns that signing the framework with China would downgrade Italy's strategic ties with Europe and the United States, saying its focus was more commercial and on encouraging trade with China.

The White House has criticized the deal, saying it is weighted in China's interests. Italy's European allies have declined to sign a joint declaration on the "Belt and Road," saying it lacks standards on financing and transparency.

While full details have not been released, it includes collaboration and investments in the northern Italian ports of Genoa and Trieste as well as roads, railways, airports and telecommunications.

"Our two countries may harness our historical and cultural bonds forged through the ancient Silk Road," Xi wrote in the Corriere della Sera newspaper this week.

____

TECHNOLOGY

Key Italian officials have insisted that the issue of expanding Chinese company Huawei's 5G network into Italy is not part of the "Belt and Road" memorandum.

The Chinese 5-G network is viewed with suspicion, mainly by the U.S. government, which says it could give Chinese security services a backdoor to snoop on consumers. The issue is a major source of tension between China and the U.S.

While European countries have balked at banning Huawei outright from participating in the creation of the new 5G networks, one key member of Italy's government, Interior Minister Matteo Salvini, shares the concerns, saying nothing in the memorandum can threaten Italians' data.

____

CULTURE

Ahead of the visit, Xi noted that China and Italy are the countries with the largest number of UNESCO world heritage sites, sharing both cultural and tourism resources. He suggested that the two countries could form "twinning relationships" between world heritage sites and cooperate on art exhibitions, TV and movie production, language course and travel.

Mattarella said that the heritage of Italy and China both "arouse admiration around the world" and could help develop the economy.

The two countries are expected to soon announce the pairing of the Langhe, Roero and Monferrato wine region in Piedmont with China's Honghe Hani rice terraces, while Verona and Hangzhou are to establish sister-city relationships.

Culture and tourism officials will be meeting Saturday on the sidelines of Xi's visit.

____

TRADE

Conte said he aims to rebalance trade with China. Currently 1 billion Chinese consumers provide a market for 13 billion euros (nearly $15 billion) in Italian goods, while Italy's 60 million people buy 60 billion euros in Chinese-made products each year.

Italy's undersecretary for economic development, Michele Geraci, says Italy lags its European partners in trade with China by 15 or 20 years, and that the aim is to increase Italian exports to China by 7 billion euros, putting Italy in line with France.

Mattarella said that Italy sees China "not only as an economic partner of prime importance, but also as a driver of global trade," and a market for Italian technology and expertise in areas like environmental protection, food security, health services and machinery. He called for "open and transparent" trade with both countries acting "on an equal basis."

Chinese Vice Foreign Minister Wang Chao said the "Belt and Road" deal would be beneficial for both countries' economic development and trade.

However, Francois Godement, a specialist in Chinese politics at the Paris Institute of Political Studies, called such claims "bogus," because Chinese companies already have significant investments in Italy.

_____

Joe McDonald in Beijing contributed to this report.

Source: Fox News World

0 0

USA Gymnastics hires ex-NBA exec to help lead it past sex scandal

Li Li Leung newly appointed president and chief executive officer of USA Gymnastics
Li Li Leung, newly appointed president and chief executive officer of USA Gymnastics, is seen in this image released from Indianapolis, Indiana, U.S., on February 19, 2019. Courtesy Wendy Barrows/USA Gymnastics/Handout via REUTERS

February 19, 2019

(Reuters) – USA Gymnastics on Tuesday named former National Basketball Association (NBA) vice president Li Li Leung as its new chief executive to help the governing body of the sport navigate the aftermath of a devastating sex abuse scandal.

Leung, who was a college gymnast at the University of Michigan, will take the helm of an organization that filed for bankruptcy protection in December as it staggered under the weight of lawsuits filed by hundreds of women who were sexually abused by former national team doctor Larry Nassar.

“I was upset and angry to learn about the abuse and the institutions that let the athletes down,” Leung said in a statement on Tuesday. “I admire the courage and strength of the survivors, and I will make it a priority to see that their claims are resolved.”

Leung, who also competed in many USA Gymnastics events and represented the United States at the 1988 Junior Pan Am Games, will assume her role as CEO on March 8 and will be based at the USA Gymnastics headquarters in Indianapolis.

“We are thrilled to have Li Li as our next president and CEO, and the Board looks forward to supporting Li Li as she delivers her vision to transform and strengthen our organization and culture,” USA Gymnastics Board Chair Kathryn Carson said in a statement.

USA Gymnastics has been in turmoil ever since dozens of female gymnasts, including Olympic champions such as Aly Raisman, McKayla Maroney, Gabby Douglas and Simone Biles, came forward to accuse Nassar of sexual abuse.

Over the past two years, three CEOs — Steve Penny, Kerry Perry and interim chief Mary Bono — have been forced out of the organization after being criticized for the way they handled the situation.

Bono resigned just four days into the job last October following criticism by some top gymnasts about whether the former Republican congresswoman was fit to lead the organization.

Nassar was sentenced to up to 300 years in prison in two different trials in Michigan last year after more than 350 women, including Olympic champions Raisman and Jordyn Wieber, testified about abuse at his hands.

USA Gymnastics called Leung “perfectly suited” to lead the governing body during “this important time in our history” given her combination of business skills, management experience and passion for gymnastics.

Leung said she will collaborate with the entire gymnastics community to create positive change, including implementing initiatives to strengthen athlete health and safety and build a clear and inclusive plan for the future.

Prior to her time at the NBA, Leung worked for global sports management firm Helios Partners, where she founded, built and managed the China office, starting 2005 in anticipation of the 2008 Beijing Olympics.

Leung then moved on to the NBA where her main focus was managing the league’s global priority partners.

(Reporting by Frank Pingue in Toronto and Gabriella Borter in New York; Editing by Scott Malone and David Gregorio)

Source: OANN

0 0

Guy Benson: 'Desperate' media politicized Stanley Cup champions' White House visit to keep Russia narrative alive

Fox News’ Guy Benson criticized the media for continuing to hammer the Russia collusion narrative, this time at the expense of National Hockey League star Alexander Ovechkin.

“For some people who are so emotionally invested in the opposite outcome, it seems like they are just desperate to bring the Russia story back. No matter how farcical, including casting aspersions on the Stanley Cup champion teams captain being under the same roof as the president. It's ludicrous,” Benson told “Fox & Friends” Wednesday.

The Washington Capitals, the reigning Stanley Cup champions, visited the White House Monday to celebrate their championship with President Trump.

Ovechkin, the team’s captain and playoff MVP, is Russian. Two of his teammates are Russian and he has in the past said he supported his home country and President Vladimir Putin.

DONNA BRAZILE: WE NEED TO SEE FULL MUELLER REPORT TO GET COUNTRY 'BACK ON SAME PAGE,' PROTECT FROM FUTURE ATTACKS

Washington Capitals left wing Alex Ovechkin, of Russia, hoists the Stanley Cup after the Capitals defeated the Golden Knights in Game 5 of the NHL hockey Stanley Cup Finals Thursday, June 7, 2018, in Las Vegas. (AP Photo/John Locher)

Washington Capitals left wing Alex Ovechkin, of Russia, hoists the Stanley Cup after the Capitals defeated the Golden Knights in Game 5 of the NHL hockey Stanley Cup Finals Thursday, June 7, 2018, in Las Vegas. (AP Photo/John Locher) (AP Photo/John Locher)

The New York Times wrote an article Monday about the visit with the headline: “Washington's Most Popular Russian (and His Teammates) Honored at the White House.” The story made mention of the popular hockey star’s relationship to Putin.

“[Ovechkin] has some relationship with Vladimir Putin. He was in the Trump White House and some media outlets decided that that was worthy of a headline and a story, which is beyond parody frankly,” Benson said.

The co-host of Fox News Radio’s “Benson & Harf” also noted Democrats continue to call for the full Mueller report to be released, a notion he supported, but they should not expect any different conclusions than what Attorney General William Barr released in a four-page summary Sunday.

“If Barr were in any way distorting the fundamental finding of no collusion I think we would have heard from Robert Mueller already, he's corrected the record a few times when he feels like things are unfair,” Benson said. “If someone at the very top of the government were misrepresenting what he found on collusion I think he would say something about it and he hasn't.”

READ FULL MUELLER REPORT SUMMARY

Benson believes that Democrats and the media now have a lot to answer for and some are “clinging” to the notion President Trump was colluding with Russia.

“So some of them are clinging. And others are pretending like this never even happened,” Benson said.

“The Democratic Party I think has a lot to answer for. But as we've been talking about on the air for the last few days the media I think has been worse and that's where you're seeing a lot of broken hearts over the last couple of days people really grappling with a difficult reality that the president is in fact legitimately elected and not a Russian plant.”

Source: Fox News Politics

0 0

New Kazakh president sworn in after longtime leader resigns

Kazakhstan has sworn in Kassym-Jomart Tokayev as interim president a day after longtime leader Nursultan Nazarbayev resigned.

Tokayev, a career diplomat who had been senate speaker, can serve the remainder of Nazarbayev's term ahead of scheduled elections next year.

Nazarbayev surprised many by announcing in a televised address Tuesday that he would step down after nearly 30 years, making Tokayev only the second president in the country's independent history.

Nazarbayev attended Tokayev's inauguration Wednesday, entering to lengthy applause from assembled dignitaries before taking a seat on a podium above and behind the lectern where Tokayev gave an address.

Nazarbayev, whom Tokayev praised as "an outstanding reformer," will remain influential as chairman of the security council and head of the ruling party.

Source: Fox News World

0 0

Bernie Sanders, Ocasio-Cortez use New Zealand semi-automatic weapons ban to call for stricter gun control in US

Leading Democrats have heaped praise on New Zealand Prime Minister Jacinda Ardern after the Kiwi leader announced her country was immediately banning "military-style semi-automatic weapons" after last week's attack that killed 50 people at two mosques.

Ardern announced Wednesday the weapons would be banned in addition to "all assault rifles," among other firearms, adding that legislation is currently being drafted and she expects the law to take effect by April 11.

"We will ban all high-capacity magazines. We will ban all parts with the ability to convert semiautomatic, or any other type of firearm, into a military-style semi-automatic weapon," the prime minister said. "In short, every semi-automatic weapon used in the terrorist attack on Friday will be banned in this country."

NEW ZEALAND PRIME MINISTER ANNOUNCES BAN ON 'MILITARY-STYLE SEMI-AUTOMATIC WEAPONS' AFTER MOSQUE

In this March 20, 2019, photo, New Zealand's Prime Minister Jacinda Ardern speaks during a press conference following the March 15 mosque shooting, in Christchurch, New Zealand. Prime Minister Ardern says New Zealand is immediately banning assault rifles, high-capacity magazines and "military style semi-automatic rifles" like the weapons used in last Friday's attacks on two Christchurch mosques. (Kyodo News via AP)

In this March 20, 2019, photo, New Zealand's Prime Minister Jacinda Ardern speaks during a press conference following the March 15 mosque shooting, in Christchurch, New Zealand. Prime Minister Ardern says New Zealand is immediately banning assault rifles, high-capacity magazines and "military style semi-automatic rifles" like the weapons used in last Friday's attacks on two Christchurch mosques. (Kyodo News via AP)

Sen. Bernie Sanders, I-Vt., and Rep. Alexandria-Ocasio Cortez, D-N.Y., were among the crowd of progressive voices who celebrated Ardern’s announcement, and they also used it as an opportunity to call for stricter gun control in the U.S.

“This is what real action to stop gun violence looks like. We must follow New Zealand's lead, take on the NRA and ban the sale and distribution of assault weapons in the United States,” Sanders tweeted.

Ocasio-Cortez shared a video of Ardern announcing the ban, adding: “Sandy Hook happened 6 years ago and we can’t even get the Senate to hold a vote on universal background checks w/ #HR8.

“Christchurch happened, and within days New Zealand acted to get weapons of war out of the consumer market.

NEW ZEALAND PRIME MINISTER VOWS NEVER TO MENTION MOSQUE GUNMAN'S NAME

“This is what leadership looks like.”

In response to Ocasio-Cortez, NRA spokeswoman Dana Loesch said: "That’s also what an entirely different country that doesn’t have the right to bear arms as a cornerstone of its constitution, in addition to numerous state laws. It’s also what confiscation and banning most semi-auto looks like, too."

The ban in New Zealand comes six days after a gunman opened fire at two mosques in Christchurch. The massacre left 50 people dead and dozens of others injured.

Ardern said the man suspected of the attack bought his weapons legally with a standard gun license and modified their capacity by using 30-round magazines, "essentially turning them into military-style semi-automatic weapons."

The 28-year-old suspect bought the weapons "through a simple online purchase," she said, and "took a significant number of lives using primarily two guns."

YOUNGEST NEW ZEALAND MOSQUE ATTACK VICTIM, 3, MOURNED AS COMMUNITY REMEMBERS ENERGETIC TODDLER

The alleged shooter, whom Fox News is not naming, has been charged with one count of murder in the attacks, which became New Zealand's deadliest mass shooting in modern history. He is expected to face additional charges at his next court appearance April 5.

CLICK HERE TO GET THE FOX NEWS APP

Preparations are underway for a massive prayer service to be held Friday, with nearly 4,000 people expected to attend.

Source: Fox News 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