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Futures edge higher after two sessions of declines

Traders work on the floor at the NYSE in New York
Traders work on the floor at the New York Stock Exchange (NYSE) in New York, U.S., March 22, 2019. REUTERS/Brendan McDermid

March 26, 2019

By Shreyashi Sanyal

(Reuters) – U.S. stock index futures edged higher on Tuesday, looking to bounce back from two sessions of declines triggered by pessimism around global growth.

Wall Street’s benchmark S&P 500 index has lost about 2 percent over the past two sessions, but remains up about 12 percent for the year.

Markets have been roiled over the past few trading sessions following the Federal Reserve’s stunning about-face on interest rate increases and data that suggested slowing global growth. Traders are now pricing in a rate cut by the Fed, as early as September.

Adding to the worries was the inversion in the U.S. yield curve, seen by many as a harbinger of recession.

Markets also awaited progress on U.S.-China trade talks, with top U.S. officials traveling to Beijing for the latest round of high-level negotiations, which are scheduled to start on Thursday.

At 6:56 a.m. ET, Dow e-minis were up 137 points, or 0.54 percent. S&P 500 e-minis were up 13.5 points, or 0.48 percent and Nasdaq 100 e-minis were up 31.75 points, or 0.43 percent.

Apple Inc’s shares rose 0.8 percent in premarket trading, a day after the iPhone maker unveiled its video streaming service, a credit card and an online gaming arcade. The company’s shares fell 1.2 percent on Monday as its new services failed to impress investors.

Boeing Co climbed 0.8 percent, extending Monday’s gain after the planemaker said it would provide airlines that have bought the 737 MAX with free software upgrades.

Meanwhile, a report from the U.S. Conference Board at 10 a.m. ET is expected to show consumer confidence index likely rose to a rate of 132 in March from 131.4 in February.

The Census Bureau is scheduled to report that housing starts had likely dipped in February. Data is scheduled for release at 8:30 a.m. ET.

(Reporting by Shreyashi Sanyal in Bengaluru; Editing by Sriraj Kalluvila)

Source: OANN

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Wednesday's Powerball drawing could see $750 million winner

Lottery players will get another chance to become a multi-millionaire and live the high life.

After months without a winner, the Powerball jackpot has spiraled upwards to a massive $750 million.

Wednesday night’s drawing gives those who buy a $2 ticket a chance at the fourth-largest lottery jackpot in U.S. history.

The big prize has grown steadily since the last jackpot winner on Dec. 26; the odds of matching the five white balls and single Powerball are a staggering one in 292.2 million.

LAWYER FOR 1.5 BILLION DOLLAR LOTTERY WINNER STEPS FORWARD

The $750 million estimate refers to the annuity option, paid over 29 years. Nearly all grand prize winners opt for the cash prize, which for Wednesday's drawing would be an estimated $465.5 million.

Earlier this month one lucky South Carolinian, who opted to stay anonymous, claimed a Mega Millions jackpot and settled for a $878 million lump sum.

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The Powerball drawing takes place at 10:59 pm ET. If you're intent on playing, the last chance to buy a ticket is about an hour before the drawing.

Powerball is played in 44 states, plus Washington, D.C., the U.S Virgin Islands and Puerto Rico.

The Associated Press contributed to this report.

Source: Fox News National

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Notre Dame Cathedral bees survive devastating fire: ‘Our Lady’s bees are still alive’

Hundreds of thousands of bees that lived on the roof of Notre Dame Cathedral in Paris have survived the devastating fire that erupted earlier this week, French beekeepers confirmed.

The approximately 180,000 bees were apparently intoxicated by the smoke of the flames, Notre Dame beekeeper Nicolas Geant told The Associated Press Friday.

“It's a big day. I am so relieved,” he said. “I saw satellite photos that showed the three hives didn't burn.”

NOTRE DAME FIRE LIKELY CAUSED BY ELECTRICAL SHORT-CIRCUIT, INVESTIGATORS BELIEVE

“Instead of killing them, the CO2 (from smoke) makes them drunk, puts them to sleep,” he explained.

Beeopic, a Paris-based urban beekeeping company, posted about the surviving bees on its Instagram page Thursday.

“Our bees at Notre Dame Cathedral are still alive,” the post said in French. “Confirmation from the site managers!! Our Lady’s bees are still alive!”

The day before, the company had posted a satellite picture of the hives that were still intact on the sacristy roof but said the fate of the bees was unknown at the time.

The three beehives were installed in 2013 on the roof of the sacristy at the south end of the cathedral. The sacristy, which is made of stone, sits lower than the cathedral’s main roof — made of wood — which burned and collapsed along with the spire during the fire on Monday.

Even though smoke is harmless to bees — and is often used by beekeepers to sedate the colony to access their hives — excessive heat can kill them by melting the wax that protects the hives. European bees, unlike some other species, stay with their colony in times of danger.

NOTRE DAME WORSHIPERS COULD PRAY IN ‘EPHEMERAL CATHEDRAL’ MADE OF WOOD; SATELLITE IMAGES SHOW SCOPE OF DAMAGE

“When bees sense fire, they gorge themselves on honey and stay to protect their queen, who doesn't move,” Geant explained.

“I saw how big the flames were, so I immediately thought it was going to kill the bees. Even though they were 30 meters [nearly 100 feet] lower than the top roof, the wax in the hives melts at 63 degrees Celsius [145.4 Fahrenheit],” he added.

However, when Notre Dame officials got to the roof, they found the bees buzzing in and out of their hives.

“I wouldn't call it a miracle, but I'm very, very happy,” Geant said.

The hives, which produce about 165 pounds of honey every year, were added to the sacristy as part of a Paris-wide initiative to boost declining bee numbers. Hives were also introduced above Paris’ gilded Opera.

Investigators in Paris said Thursday they believe an electrical short-circuit is most likely the cause behind the massive fire at the cathedral, though an investigation is ongoing.

Fox News’ Barnini Chakraborty and The Associated Press contributed to this report.

Source: Fox News World

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WTO chief sees difficult road for trade liberalization

The World Trade Organization sees a "challenging" and "difficult" road ahead for international trade liberalization due to the current political climate.

The WTO's director-general says he's confident Mexico and the United States can sort out their current trade difficulties, which include a border-crossing slowdown, U.S. threats to close the border and the still-pending ratification of the U.S.-Mexico-Canada trade agreement.

But Roberto Azevedo said Thursday the fight to expand free trade "is going to be challenging, is going to be difficult, above all because of the political conditions we have in the world today."

Mexico's Economy Secretary said a slowdown on border crossing would affect U.S. consumers because "soon they won't find fresh vegetables on store shelves."

Source: Fox News World

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Biden’s Senate records held by his alma mater won’t be released until late 2019, possibly even later

The public is being denied access to about 2,000 boxes of records from Joe Biden’s Senate career -- information that spans more than three decades.

The University of Delaware, where the Biden archive is stored, says the records might not be available until late 2019, possibly even later.

The news comes as the former vice president is set to announce his candidacy for president on Thursday morning, joining a crowded Democratic primary field where he’s going to immediately stand out. The latest polls already put him on par with Sen. Bernie Sanders, I-Vt., another leading 2020 candidate.

JOE BIDEN WOULD BE 'MOST SANE' DEMOCRAT RUNNING FOR PRESIDENT, LARA TRUMP SAYS

The delay in access to Biden's records -- coinciding with new scrutiny he is facing over behavior toward women -- results from the conditions of his donation to the University of Delaware.

“The Biden senatorial papers are indeed still closed, pending completion of processing (still underway) and as per our agreement with the donor, which is that the papers would remain closed until the later date of 12/31/2019 or two years after the donor retires [from] public service,” L. Rebecca Johnson Melvin, head of the university library's archives department, told HuffPost.

“The Biden senatorial papers are indeed still closed, pending completion of processing (still underway) and as per our agreement with the donor, which is that the papers would remain closed until the later date of 12/31/2019 or two years after the donor retires [from] public service.”

— L. Rebecca Johnson Melvin, University of Delaware library official

GOP STRATEGIST COLIN REED ON BIDEN'S EXPECTED 2020 ANNOUNCEMENT: 'THE GLOVES WILL COME OFF RIGHT AWAY'

She added that it remains to be seen whether the records will be released even after the December 2019 deadline.

Biden voluntarily donated the records to his former school back in 2011, initially setting out the following condition for their release to the public: “no sooner than two years after [Biden] retires from any public office.”

But an updated agreement with the university was somewhat amended after he left office in 2017, reflecting Biden’s growing political ambitions. The records will now be sealed until at least the end of the year or even further, as the university library official confirmed.

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The library is reportedly holding about 1,850 boxes of archival records and “extensive electronic records” from Biden’s time in the Senate.

Source: Fox News Politics

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Democrats Tried To Obstruct The 2016 Election

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Vice President Pence to Speak at 13th Annual Values Voter Summit

FOR IMMEDIATE RELEASE: September 14, 2018 CONTACT: J.P. Duffy or Alice Chao, (866) FRC-NEWS or (866)-372-6397 Vice President Pence to Speak at 13th Annual Values Voter Summit WASHINGTON, D.C. — On Saturday, September 22, Vice President Mike Pence will address the 13th annual Values Voter Summit taking place at the Omni Shoreham Hotel. Pence will […]

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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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