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Fed’s Kaplan says he is getting more confident about economy: WSJ

Dallas Federal Reserve Bank President Kaplan stands on a stage in Stanford
FILE PHOTO - Dallas Federal Reserve Bank President, Robert Kaplan, stands on a stage at Stanford University's Hoover Institution where he is attending an annual monetary policy conference in Stanford, California, U.S., May 4, 2018. REUTERS/Ann Saphir

April 18, 2019

(Reuters) – A top Federal Reserve policymaker on Thursday said he is “getting more confident” in U.S. economic growth this year but still thinks current interest rates are appropriate.

“I’m getting more confident about solid growth this year,” Dallas Fed President Robert Kaplan said in an interview with the Wall Street Journal. He described the U.S. central bank’s current benchmark overnight lending rate of 2.25 percent to 2.50 percent as “appropriate” and “mildly accommodative.”

Several banks and analysts revised their forecasts for first-quarter U.S. growth higher on Thursday after data showed retail sales surging in March and the number of Americans filing applications for unemployment benefits falling to the lowest level in nearly 50 years last week.

(Reporting by Trevor Hunnicutt in New York; Editing by Paul Simao)

Source: OANN

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Outgoing president to create new political party in Slovakia

Slovakia's outgoing president, Andrej Kiska, says he's planning to create a new political party once his term in office expires in June.

Kiska, a successful businessman-turned-philanthropist, did not stand for a second five-year term in the largely ceremonial post. Liberal environment activist Zuzana Caputova was elected Saturday to the post as the country's first female president.

In Wednesday's announcement, Kiska didn't immediately offer details.

His term in office was marked by clashes with populist former prime minister Robert Fico and his leftist party, a dominant political force that was tarnished by corruption scandals.

Kiska supported huge street protests that led to the fall of Fico's coalition government amid a political crisis triggered by the slaying last year of an investigative reporter who was investigating possible widespread government corruption.

Source: Fox News World

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Russian ballet moves like Jagger in Stones-inspired show

FILE PHOTO: Mick Jagger of the Rolling Stones performs during a concert of their
FILE PHOTO: Mick Jagger of the Rolling Stones performs during a concert of their "No Filter" European tour at the Orange Velodrome stadium in Marseille, France, June 26, 2018. REUTERS/Jean-Paul Pelissier/File Photo

March 27, 2019

ST PETERSBURG, Russia (Reuters) – A ballet set to music by The Rolling Stones and choreographed by Mick Jagger’s ballerina girlfriend has premiered in Russia.

The eight-minute “Porte Rouge” (Red Door) show, inspired by the veteran British singer’s zany dance style, delighted a packed crowd at St Petersburg’s famous Mariinsky Theatre on Tuesday night.

Jagger’s partner Melanie Hamrick, a U.S. dancer, masterminded the production featuring classic Stones tracks “Paint it Black,” “Sympathy for the Devil” and “She’s a Rainbow”.

“I tried to incorporate that feel of just the love of dance and the enjoyment when he is in concert,” Hamrick said.

“He has a very unique way of moving, a very free way of moving, so I tried to capture the essence of that.”

Jagger, now 75, curated the music and helped whittle down the tracklist from the Stones’ litany of hits.

“Very impressive, it is interesting to see the songs we all know in this style. The choreography is original, so it was very cool, I think,” said spectator and dancer Nicolas Mackay.

(Reporting by Alexander Сhizhenok; Writing by Tom Balmforth; Editing by Andrew Cawthorne)

Source: OANN

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UK should ‘cool down’, drop Brexit – Socialist candidate to head EU Commission

FILE PHOTO: Frans Timmermans, the newly elected Party of European Socialists President, speaks during the Party of European Socialists annual meeting in Lisbon
FILE PHOTO: Frans Timmermans, the newly elected Party of European Socialists President, speaks during the Party of European Socialists annual meeting in Lisbon, Portugal, December 8, 2018. REUTERS/Pedro Nunes/File Photo

April 17, 2019

By Peter Maushagen

STRASBOURG, France (Reuters) – Britain should use the next few months to “cool down and rethink” its decision to leave the European Union, the socialist candidate to head the next European Commission, Frans Timmermans, said on Wednesday.

Last week EU leaders gave Britain an extension of its departure date until Oct. 31, with the possibility of leaving sooner if parliament ratifies a divorce deal Prime Minister Theresa May has negotiated with the EU. Lawmakers have already rejected the deal three times.

“I absolutely hope that the UK might stay in the EU,” Timmermans, now the Commission’s first vice president, said in a television debate with his main rival, Manfred Weber of the center-right European People’s Party (EPP).

“I hope this period of extension will be used for Britain to calm down and rethink things a bit, perhaps for politicians to be more responsible with the promises they make, and then look at the issue again later this year,” the Dutchman said.

“Who knows what might change in the meantime?” he said.

Timmermans was expressing a sentiment shared by some in the EU, notably the chairman of EU leaders, Donald Tusk, that Britain could still change its mind and stay in the EU.

LABOUR TO TIMMERMANS’ RESCUE?

Polls show that enough Britons may have had a change of heart about Brexit since the 2016 referendum, in which they voted to leave the bloc by 52 to 48 percent. But May and her government remain strongly opposed to holding another vote.

Timmermans hopes to replace the EPP’s Jean-Claude Juncker as head of the European Commission, the most powerful of EU institutions. He is running on a ticket from the EU’s second biggest political family, the socialists.

Britain is likely to still be a member of the EU at the time of the European Parliament elections on May 23-26, which means it would take part in the vote. Britain’s opposition Labour Party, which backs a second referendum, could help Timmermans’ socialists win more seats in the 751-seat European assembly.

Weber does not stand to benefit in the same way from British participation in the EU elections because no UK parties belong to the EPP, currently the largest grouping in the parliament.

“I have a problem that they (Britain) are now participating in the EU elections, are deciding about the future of our union,” Weber said during the TV debate with Timmermans.

“That is not easy to understand. I respect the outcome, and if they are part of the EU, they have the right to vote – don’t get me wrong,” he added.

The EU political family with most seats in the European Parliament expects its candidate for Commission president to land the job, although the decision formally lies with EU leaders.

Latest polls – which assume UK participation in the elections – show the EPP winning 178 seats and the socialists getting 144 seats.

(Reporting By Peter Maushagen, Writing by Jan Strupczewski; Editing by Gareth Jones)

Source: OANN

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Storms sweeping through South cause damage in Alabama

A strong storm moving across northeast Alabama knocked down power lines and caused scattered damage in a retail district early Monday and forecasters said more bad weather was on the way.

Photos shared on social media showed plants and other items thrown around the parking lot of a Walmart store in Guntersville, Alabama. Nearby stores had to close because of power outages.

High winds left trees tilted sideways and utility lines drooped toward the ground. Farm buildings were damaged in rural Blount County, Alabama, where one person was reported injured.

The National Weather Service issued tornado warnings after radar indicated a possible twister. The weather service office in Huntsville said it was sending a team to determine whether a tornado caused damage.

The Storm Prediction Center says 26 million people were at a slight risk of severe storms in Mississippi, Alabama, Georgia and the Carolinas.

Schools in DeKalb County, Alabama, and Northeast Alabama Community College delayed the start of classes due to the threat of severe weather. The weather service said several rounds of severe weather could move through the region.

It's the third day in a row of heavy storms for parts of the South. Sunday night, a mobile home in Centreville in the southwest corner of Mississippi was destroyed, with Wilkinson County Emergency Management Director Mattie Powell telling WLBT-TV that four family members lost their possessions, but were uninjured. Weather may have also contributed to a traffic fatality Saturday near Ruleville, Mississippi.

In Louisiana, at least five homes, as well as cars and boats were damaged in the St. Amant community southeast of Baton Rouge on Sunday night. In northeastern Louisiana, Grambling State University and Morehouse Parish schools were closed Monday because of flash flooding.

Source: Fox News National

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Chinese student found alive after being kidnapped in Canada.

Canadian police say a Chinese student who was abducted in the Toronto area has been found.

Const. Andy Pattenden with York Regional Police said Wanzhen Lu showed up at a house looking for help in what's called cottage country in Ontario. He has minor injuries and was treated in hospital.

Police arrested a 35-year-old man on Tuesday but later released him. Police are looking for four suspects.

Wanzhen was kidnapped from a parking garage in Markham, Ontario, on Saturday.

Police say the 22-year-old had parked his car and was walking with a friend toward the elevator of his condominium when a minivan came up behind him.

Investigators say three men jumped out, grabbed Lu, shocked him multiple times with a stun gun and dragged him into the van.

Source: Fox News World

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51 victims of Larry Nassar's sexual assault sue USOC over abuse claims

The U.S. Olympic Committee (USOC) is being sued by 51 victims of disgraced USA Gymnastics doctor Larry Nassar because the committee allegedly failed to prevent the sexual assault.

The lawsuit was filed Tuesday in federal court in Denver. It details Nassar’s abuse from as far back as the late 1990s with one victim as young as 8 years old.

USOC board members and several former high-ranking officials were also included in the lawsuit.

ALY RAISMAN OPENS UP ABOUT SEXUAL ABUSE, SAYS IT’S HARD TO HEAR OTHER SURVIVORS’ STORIES

The lawsuit describes alleged abuse by six other coaches, though most of the plaintiffs said they were abused by Nassar himself.

It also claims the USOC violated Title IX and the constitution by not acting promptly and more forcefully.

Many of the plaintiffs' claims in the lawsuit are similar to those of other victims: Often their parents were present during the examinations but Nassar positioned himself in a way that they could not see what was happening.

Many also claimed they were not aware they were being abused at the time because they were young and sexually inexperienced. Some said they only became aware when other victims came forward at Nassar’s 2018 sentencing hearing for child pornography and sex abuse.

LARRY NASSAR SENTENCED TO 40 TO 175 YEARS IN GYMNASTICS MOLESTATION CASE

Others acted after the release of a report in December that detailed the USOC's allegedly slow response to sex-abuse cases.

In addition to compensation, the plaintiffs are asking for institutional reform at the USOC.

The USOC said the federation would have no comment on pending litigation. The governing body has tried to remove itself as a defendant in a number of other similar lawsuits, contending it should not be held legally responsible for Nassar's crimes.

OLYMPIC GYMNAST ALY RAISMAN BREAKS ELBOW IN FALL ON STAIRS

Those lawsuits include USA Gymnastics as defendants, but this one singles out the USOC, which is based in Colorado Springs.

Virtually all the top executives — including the chairman, CEO and sports performance director — have left voluntarily or been fired since Nassar's sentencing in January 2018.

In January 2018, Nassar was sentenced to 40 to 175 years in prison after pleading guilty to assaulting seven people in the Lansing, Michigan, area between 1998 and 2015. He has already been sentenced to 60 years in prison for child pornography crimes.

The Associated Press contributed to this report.

Source: Fox News National

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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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