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Citigroup to enter burgeoning consumer payments business

FILE PHOTO: A Citibank sign on bank branch in midtown Manhattan in New York
FILE PHOTO: A Citibank sign on a bank branch in midtown Manhattan, New York, November 17, 2010. REUTERS/Mike Segar/File Photo

March 26, 2019

(Reuters) – Citigroup Inc said on Tuesday it is developing a consumer-payments platform, in a move to enter the rapidly growing digital payments industry.

Citi’s new service will offer merchants a range of consumer payment options to collect money, including from credit cards and e-wallets, the company said. This will expand its product portfolios within its mainstay business-to-business (B2B) payment offerings. [https://reut.rs/2CAEJXO]

The digital payment industry has been growing rapidly as more and more consumers make purchases online and use digital checkout services such as e-wallets or cash on delivery. The ease of transferring money has also made traditional payment methods such as checks redundant, forcing many banks and their merchant customers to quickly shift to digital payment technology or fall behind.

“We want to extend our leadership beyond the B2B payment space by developing capabilities to enable institutions to collect from consumers in a globally consistent and seamless fashion,” Naveed Sultan, global head of Citi’s Treasury and Trade Solutions, said.

Citi’s move is the latest foray by a major U.S. financial institution after U.S. fintech group Fidelity National Information Services Inc (FIS) agreed to buy payment processor Worldpay for $34.83 billion, marking the biggest acquisition in the digital payments industry.

Citi said it is working with payment processor Mastercard Inc to facilitate the service as it is already integrated with digital payment providers and e-wallets around the globe.

The bank also said it is collaborating with other digital payment companies to incorporate up to 140 alternative payment methods into its service.

(Reporting by Bharath Manjesh in Bengaluru; Editing by James Emmanuel)

Source: OANN

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Verdict pending for Swiss veteran who joined anti-IS militia

A Swiss military official says a verdict is expected Friday in the trial of a former sergeant accused of jeopardizing Switzerland's standing as a neutral nation by joining a foreign Christian militia to fight the Islamic State group in Syria.

Swiss media say Johan Cosar is accused of training and fighting with the Syriac Military Council militia from 2013 to 2015.

Cosar's military trial on charges of joining a foreign army and recruiting other Swiss citizens opened Wednesday.

Court spokesman Mario Camelin said a concern for Swiss authorities was that a veteran of the armed forces fighting for a foreign militia could jeopardize the Alpine country's long-vaunted neutrality.

If convicted, Cosar could be fined and sentenced to up to three years in prison.

Camelin said Cosar's cousin also is on trial.

Source: Fox News World

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Ethiopian crash report likely to be released this week as Boeing briefs airlines

An aerial photo shows Boeing 737 MAX airplanes parked on the tarmac at the Boeing Factory in Renton
An aerial photo shows Boeing 737 MAX airplanes parked on the tarmac at the Boeing Factory in Renton, Washington, U.S. March 21, 2019. REUTERS/Lindsey Wasson

March 26, 2019

By Kumerra Gumechu and Eric M. Johnson

ADDIS ABABA/SEATTLE (Reuters) – A preliminary report on an Ethiopian Airlines crash will very likely be released this week, the country’s transport ministry said on Tuesday, as Boeing prepares to brief more airlines on software and training updates on the 737 MAX.

The aviation industry and grieving families of victims of the March 10 crash anxiously await details from the Ethiopia-led investigation. Boeing has come under intense scrutiny since the crash, the second in five months involving its new 737 MAX 8 model.

The MAX software is the focus of investigations into the two crashes — in Ethiopia this month and in Indonesia last year — in which 346 lives were lost.

This week Boeing is briefing airlines on software and training updates for the MAX, with more than 200 global airline pilots, technical experts and regulators due in Renton, Washington, where the plane is built.

Any fixes to the MAX software must still get approval from governments around the world. The 737 MAX is Boeing’s best-selling plane, with orders worth more than $500 billion at list prices. Within less than a week after the Ethiopian crash, the jets were grounded globally.

On Tuesday, a spokesman for Ethiopia’s Transport Ministry, which is leading the investigation in Addis Ababa, told Reuters that the report will very likely be released this week though he cautioned that “there could be unpredictable things” and declined to give further details.

The statement came a day after Ethiopian Airlines Chief Executive Officer Tewolde Gebremariam said he expected the preliminary report to be released this week or next week. Tewolde told Reuters the leading African airline may or may not attend Boeing’s briefing in the United States this week.

Boeing’s software fix for the grounded 737 MAX will prevent repeated operation of an anti-stall system at the center of safety concerns, and deactivate it altogether if two sensors disagree widely, two people familiar with pilot briefings told Reuters on Monday.

Upgrading an individual 737 MAX with Boeing’s new software only takes about an hour per plane, though the overall process could stretch on far longer as it is rolled out across the global fleet due to stringent testing and documentation requirements by engineers and regulators, according to a senior FAA official with knowledge of the process.

Ethiopian and French investigators have pointed to “clear similarities” between the two crashes, putting pressure on Boeing and U.S. regulators to come up with an adequate fix.

(Reporting by Kumerra Gemechu and Eric M. Johnson in Seattle; Writing by Maggie Fick; Editing by Louise Heavens)

Source: OANN

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Klobuchar has ‘please clap’ moment, says CNN’s Chris Cuomo ‘creeping’ over shoulder during town hall

2020 presidential candidate Sen. Amy Klobuchar, D-Minn., saw a couple of viral moments during a televised town hall on Monday night.

The first: what critics and analysts have called her “please clap” moment. Klobuchar was boasting that in each of her elections she won every congressional district in her state, including that of former Rep. Michele Bachmann, a Republican.

After the audience didn’t react to her victories, Klobuchar gave them permission to be excited.

“It’s when you guys are supposed to cheer, okay?” Klobuchar grinned, which prompted applause and some laughter.

Many on social media have drawn comparisons to former Florida Gov. Jeb Bush, who famously told a town hall crowd to “please clap” on the campaign trail during the 2016 election.

STIREWALT: TRUMP SUPPORTERS UNFAZED BY MUELLER REPORT RELEASE

Later on, the Minnesota Democrat had an awkward encounter with CNN anchor and town hall moderator Chris Cuomo.

While discussing how to address climate change with rural voters, Klobuchar stressed how important it was and told Cuomo that she wanted to “finish” her thought before he interrupted.

She then, however, felt a little creeped out by Cuomo’s presence.

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“I feel you creeping over my shoulder,” Klobuchar told the CNN anchor. She jokingly clarified, “not in a Trumpian manner.”

Klobuchar was referring to the second presidential debate in 2016. Former Secretary of State Hillary Clinton later accused then-candidate Donald Trump of being a “creep” for approaching behind her on the debate stage and claimed her “skin crawled” in her memoir, “What Happened.”

Source: Fox News Politics

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Officer says he was fooled by Nassar's 'lies' in 2004

A Michigan police officer who investigated a complaint against Larry Nassar back in 2004 says he didn't send the case to a prosecutor because he was fooled by the sports doctor.

Officials in Meridian Township, Michigan, publicly apologized to the victim, Brianne Randall-Gay, a year ago, after Nassar was sentenced to decades to prison for molesting girls and young women. But they also took the extraordinary step of hiring an investigator to try to learn more about how police handled her complaint. The report was released Tuesday.

The report didn't reveal many new details. But it includes an interview with Andrew McCready, who investigated Randall-Gay's allegation that Nassar had molested her. Nassar told police that he was performing a legitimate medical procedure.

McCready says, "I believed his lies."

Source: Fox News National

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Italy Deputy PM Di Maio says there are partners ready for Alitalia

FILE PHOTO: Alitalia planes at Leonardo da Vinci-Fiumicino Airport in Rome
FILE PHOTO: Alitalia airplanes pictured at Leonardo da Vinci-Fiumicino Airport in Rome, Italy, March 30, 2019. REUTERS/Alberto Lingria/File Photo

April 5, 2019

MILAN (Reuters) – Italy’s Deputy Prime Minister Luigi Di Maio said on Friday there were investors ready to get involved in a rescue plan for troubled flagship carrier Alitalia.

“Partners are there”, Di Maio said on the sideline of an event in Milan.

A deadline for Ferrovie dello Stato to present a rescue plan for Alitalia has been extended by one month to end-April after the Italian railway group, which is in talks with Delta Air Lines over Alitalia, failed to present a business plan for the carrier in time.

(Reporting by Francesca Landini, writing by Elvira Pollina, editing by Valentina Za)

Source: OANN

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Thai opposition party undeterred after ally’s failed princess bid

Supporters of Pheu Thai Party attend the election campaign in Bangkok
Supporters of Pheu Thai Party attend the election campaign in Bangkok, Thailand February 15, 2019. REUTERS/Athit Perawongmetha

February 18, 2019

By Panu Wongcha-um

UBON RATCHATHANI, Thailand (Reuters) – Leaders of Thailand’s biggest opposition party campaigning on Monday never mentioned ousted premier Thaksin Shinawatra, whose policies they espouse, nor the princess whose shock candidacy could see its ally banned from the March 24 election.

They didn’t need to. Supporters in the northeastern stronghold of the Pheu Thai party are well aware of the complexities of the first general election since a 2014 coup – and are determined to return their party to power despite electoral rules limiting their voting power.

“How long have you all waited, how long have you all suffered?” asked Sudarat Keyuraphan, Pheu Thai’s top prime ministerial candidate, asked supporters during a campaign stop in Ubon Ratchathani province.

“We all have to wait just a little while, until March 24. That day will be a day of victory for all of us!” she told the cheering crowd.

Pheu Thai is the largest of several parties in the election linked to ex-prime minister Thaksin Shinawatra, who was ousted in a 2006 coup and lives in self-exile after a corruption conviction he says was politically motivated.

The party and its offshoots retain support among rural farmers and the poor for their social welfare programs, but they face an uphill battle in the election, with new rules that prevent any one party gaining a big majority.

Junta leader Prayuth Chan-ocha, who as army chief in 2014 ousted the last civilian government, is also running, as the prime ministerial candidate of a new pro-military party.

Pro-Thaksin parties have won every election since 2001, but after Thaksin was ousted their successive governments have been ended either by court rulings or coups, with the most recent military takeover ousting a Pheu Thai government that Thaksin’s sister, Yingluck, had led.

After nearly five years in power, the junta is in the process of choosing all 250 members of the Senate, which will elect a prime minister along with the 500-seat House of Representatives, putting pro-military forces at a significant advantage even before election.

Supporters of Pheu Thai say the new rules are aimed at ridding the country of Thaksin’s influence once and for all. The party has to distance itself from the former telecommunications tycoon because the law on political parties forbids outsiders from controlling or directing them.

But Thaksin’s loyalists in Udon Ratchathani were undeterred.

“I think Pheu Thai will win by a landslide, despite what’s happened, and regardless of the military-appointed Senate,” said Kriangsak Lamun, 64.

Mathematically, however, Pheu Thai’s chances of regaining power would be reduced even if it is the top vote-getter if one of its allied parties, Thai Raksa Chart, is disqualified.

‘AS POPULAR AS EVER’

Thai Raksa Chart stunned the nation and electrified supporters on Feb. 8 with the surprise nomination of the king’s older sister, Princess Ubolratana Rajakanya Sirivadhana Barnavadi, as its sole prime ministerial candidate, breaking tradition of royalty shunning politics.

The nomination drew a swift rebuke from King Maha Vajiralongkorn, and the princess was disqualified by the Electoral Commission. Now, her nominating party faces a possible ban in a Constitutional Court decision due later this month.

Thai Raksa Chart is one of at least three pro-Thaksin parties contesting the elections to help scoop up seats under the complex electoral laws that limit the impact of the largest party.

With Pheu Thai likely to be hamstrung by those rules, other pro-Thaksin parties such as Thai Raksa Chart and the Pheu Chart party are intended to gain some of the proportionally awarded seats that favor smaller parties.

If Thai Raksa Chart is disqualified, that safety net may disappear – making the headline-grabbing nomination of the princess seem like a miscalculation.

Die-hard supporters of Thaksin’s populist policies were mixed in their opinions about Thai Raksa Chart’s recruiting royalty, revered as semi-divine in Thai culture, into politics.

Some said they admired the princess as a candidate, while others found it inappropriate.

“I don’t think it was a good move … Royals should not get involved in politics,” said Virat Laddabut, 55, though he said he wouldn’t change his vote.

Another voter, Somchai Wongsa, said voters in the rural northeast would vote for pro-Thaksin parties whatever their name.

“It doesn’t matter if Thai Raksa Chart is dissolved,” he said.

“People here will still vote Pheu Thai. The party is as popular as ever.”

(Writing by Kay Johnson; Editing by Robert Birsel)

Source: OANN

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The Wider Image: China's start-ups go small in age of 'shoebox' satellites
LinkSpace’s reusable rocket RLV-T5, also known as NewLine Baby, is carried to a vacant plot of land for a test launch in Longkou, Shandong province, China, April 19, 2019. REUTERS/Jason Lee

April 26, 2019

By Ryan Woo

LONGKOU, China (Reuters) – During initial tests of their 8.1-metre (27-foot) tall reusable rocket, Chinese engineers from LinkSpace, a start-up led by China’s youngest space entrepreneur, used a Kevlar tether to ensure its safe return. Just in case.

But when the Beijing-based company’s prototype, called NewLine Baby, successfully took off and landed last week for the second time in two months, no tether was needed.

The 1.5-tonne rocket hovered 40 meters above the ground before descending back to its concrete launch pad after 30 seconds, to the relief of 26-year-old chief executive Hu Zhenyu and his engineers – one of whom cartwheeled his way to the launch pad in delight.

LinkSpace, one of China’s 15-plus private rocket manufacturers, sees these short hops as the first steps towards a new business model: sending tiny, inexpensive satellites into orbit at affordable prices.

Demand for these so-called nanosatellites – which weigh less than 10 kilograms (22 pounds) and are in some cases as small as a shoebox – is expected to explode in the next few years. And China’s rocket entrepreneurs reckon there is no better place to develop inexpensive launch vehicles than their home country.

“For suborbital clients, their focus will be on scientific research and some commercial uses. After entering orbit, the near-term focus (of clients) will certainly be on satellites,” Hu said.

In the near term, China envisions massive constellations of commercial satellites that can offer services ranging from high-speed internet for aircraft to tracking coal shipments. Universities conducting experiments and companies looking to offer remote-sensing and communication services are among the potential domestic customers for nanosatellites.

A handful of U.S. small-rocket companies are also developing launchers ahead of the expected boom. One of the biggest, Rocket Lab, has already put 25 satellites in orbit.

No private company in China has done that yet. Since October, two – LandSpace and OneSpace – have tried but failed, illustrating the difficulties facing space start-ups everywhere.

The Chinese companies are approaching inexpensive launches in different ways. Some, like OneSpace, are designing cheap, disposable boosters. LinkSpace’s Hu aspires to build reusable rockets that return to Earth after delivering their payload, much like the Falcon 9 rockets of Elon Musk’s SpaceX.

“If you’re a small company and you can only build a very, very small rocket because that’s all you have money for, then your profit margins are going to be narrower,” said Macro Caceres, analyst at U.S. aerospace consultancy Teal Group.

“But if you can take that small rocket and make it reusable, and you can launch it once a week, four times a month, 50 times a year, then with more volume, your profit increases,” Caceres added.

Eventually LinkSpace hopes to charge no more than 30 million yuan ($4.48 million) per launch, Hu told Reuters.

That is a fraction of the $25 million to $30 million needed for a launch on a Northrop Grumman Innovation Systems Pegasus, a commonly used small rocket. The Pegasus is launched from a high-flying aircraft and is not reusable.

(Click https://reut.rs/2UVBjKs to see a picture package of China’s rocket start-ups. Click https://tmsnrt.rs/2GIy9Bc for an interactive look at the nascent industry.)

NEED FOR CASH

LinkSpace plans to conduct suborbital launch tests using a bigger recoverable rocket in the first half of 2020, reaching altitudes of at least 100 kilometers, then an orbital launch in 2021, Hu told Reuters.

The company is in its third round of fundraising and wants to raise up to 100 million yuan, Hu said. It had secured tens of millions of yuan in previous rounds.

After a surge in fresh funding in 2018, firms like LinkSpace are pushing out prototypes, planning more tests and even proposing operational launches this year.

Last year, equity investment in China’s space start-ups reached 3.57 billion yuan ($533 million), a report by Beijing-based investor FutureAerospace shows, with a burst of financing in late 2018.

That accounted for about 18 percent of global space start-up investments in 2018, a historic high, according to Reuters calculations based on a global estimate by Space Angels. The New York-based venture capital firm said global space start-up investments totaled $2.97 billion last year.

“Costs for rocket companies are relatively high, but as to how much funding they need, be it in the hundreds of millions, or tens of millions, or even just a few million yuan, depends on the company’s stage of development,” said Niu Min, founder of FutureAerospace.

FutureAerospace has invested tens of millions of yuan in LandSpace, based in Beijing.

Like space-launch startups elsewhere in the world, the immediate challenge for Chinese entrepreneurs is developing a safe and reliable rocket.

Proven talent to develop such hardware can be found in China’s state research institutes or the military; the government directly supports private firms by allowing them to launch from military-controlled facilities.

But it’s still a high-risk business, and one unsuccessful launch might kill a company.

“The biggest problem facing all commercial space companies, especially early-stage entrepreneurs, is failure” of an attempted flight, Liang Jianjun, chief executive of rocket company Space Trek, told Reuters. That can affect financing, research, manufacturing and the team’s morale, he added.

Space Trek is planning its first suborbital launch by the end of June and an orbital launch next year, said Liang, who founded the company in late 2017 with three other former military technical officers.

Despite LandSpace’s failed Zhuque-1 orbital launch in October, the Beijing-based firm secured 300 million yuan in additional funding for the development of its Zhuque-2 rocket a month later.

In December, the company started operating China’s first private rocket production facility in Zhejiang province, in anticipation of large-scale manufacturing of its Zhuque-2, which it expects to unveil next year.

STATE COMPETITION

China’s state defense contractors are also trying to get into the low-cost market.

In December, the China Aerospace Science and Industry Corp (CASIC) successfully launched a low-orbit communication satellite, the first of 156 that CASIC aims to deploy by 2022 to provide more stable broadband connectivity to rural China and eventually developing countries.

The satellite, Hongyun-1, was launched on a rocket supplied by the China Aerospace Science and Technology Corp (CASC), the nation’s main space contractor.

In early April, the China Academy of Launch Vehicle Technology (CALVT), a subsidiary of CASC, completed engine tests for its Dragon, China’s first rocket meant solely for commercial use, clearing the path for a maiden flight before July.

The Dragon, much bigger than the rockets being developed by private firms, is designed to carry multiple commercial satellites.

At least 35 private Chinese companies are working to produce more satellites.

Spacety, a satellite maker based in southern Hunan province, plans to put 20 satellites in orbit this year, including its first for a foreign client, chief executive Yang Feng told Reuters.

The company has only launched 12 on state-produced rockets since the company started operating in early 2016.

“When it comes to rocket launches, what we care about would be cost, reliability and time,” Yang said.

(Reporting by Ryan Woo; Additional reporting by Beijing newsroom; Editing by Gerry Doyle)

Source: OANN

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German drug and crop chemical maker Bayer holds annual general meeting
Werner Baumann, CEO of German pharmaceutical and chemical maker Bayer AG, attends the annual general shareholders meeting in Bonn, Germany, April 26, 2019. REUTERS/Wolfgang Rattay

April 26, 2019

By Patricia Weiss and Ludwig Burger

BONN (Reuters) – Bayer shareholders vented their anger over its stock price slump on Friday as litigation risks mount from the German drugmaker’s $63 billion takeover of seed maker Monsanto.

Several large investors said they will not support aspirin investor Bayer’s management in a key vote scheduled for the end of its annual general meeting.

Bayer’s management, led by chief executive Werner Baumann, could see an embarrassing plunge in approval ratings, down from 97 percent at last year’s AGM, which was held shortly before the Monsanto takeover closed in June.

A vote to ratify the board’s actions features prominently at every German AGM. Although it has no bearing on management’s liability, it is seen as a key gauge of shareholder sentiment.

“Due to the continued negative development at Bayer, high legal risks and a massive share price slump, we refuse to ratify the management board and supervisory board’s actions during the business year,” Janne Werning, representing Germany’s Union Investment, a top-20 shareholder, said in prepared remarks.

About 30 billion euros ($34 billion) have been wiped off Bayer’s market value since August, when a U.S. jury found the pesticide and drugs group liable because Monsanto had not warned of alleged cancer risks linked to its weedkiller Roundup.

Bayer suffered a similar defeat last month and more than 13,000 plaintiffs are claiming damages.

Bayer is appealing or plans to appeal the verdicts.

Deutsche Bank’s asset managing arm DWS said shareholders should have been consulted before the takeover, which was agreed in 2016 and closed in June last year.

“You are pointing out that the lawsuits have not been lost yet. We and our customers, however, have already lost something – money and trust,” Nicolas Huber, head of corporate governance at DWS, said in prepared remarks for the AGM.

He said DWS would abstain from the shareholder vote of confidence in the executive and non-executive boards.

Two people familiar with the situation told Reuters this week that Bayer’s largest shareholder, BlackRock, plans to either abstain from or vote against ratifying the management board’s actions.

Asset management firm Deka, among Bayer’s largest German investors, has also said it would cast a no vote.

Baumann said Bayer’s true value was not reflected in the current share price.

“There’s no way to make this look good. The lawsuits and the first verdicts weigh heavily on our company and it’s a concern for many people,” he said, adding it was the right decision to buy Monsanto and that Bayer was vigorously defending itself.

This month, shareholder advisory firms Institutional Shareholder Services (ISS) and Glass Lewis recommended investors not to give the executive board their seal of approval.

(Reporting by Patricia Weiss and Ludwig Burger; Editing by Alexander Smith)

Source: OANN

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Sudan’s military, which ousted President Omar al-Bashir after months of protests against his 30-year rule, says it intends to keep the upper hand during the country’s transitional period to civilian rule.

The announcement is expected to raise tensions with the protesters, who demand immediate handover of power.

The Sudanese Professionals Association, which is spearheading the protests, said Friday the crowds will stay in the streets until all their demands are met.

Shams al-Deen al-Kabashi, the spokesman for the military council, said late Thursday that the military will “maintain sovereign powers” while the Cabinet would be in the hands of civilians.

The protesters insist the country should be led by a “civilian sovereign” council with “limited military representation” during the transitional period.

The army toppled and arrested al-Bashir on April 11.

Source: Fox News World

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FILE PHOTO: Small toy figures are seen in front of a displayed Huawei and 5G network logo in this illustration picture
FILE PHOTO: Small toy figures are seen in front of a displayed Huawei and 5G network logo in this illustration picture, March 30, 2019. REUTERS/Dado Ruvic

April 26, 2019

By Charlotte Greenfield

WELLINGTON (Reuters) – China’s Huawei Technologies said Britain’s decision to allow the firm a restricted role in building parts of its next-generation telecoms network was the kind of solution it was hoping for in New Zealand, where it has been blocked from 5G plans.

Britain will ban Huawei from all core parts of 5G network but give it some access to non-core parts, sources have told Reuters, as it seeks a middle way in a bitter U.S.-China dispute stemming from American allegations that Huawei’s equipment could be used by Beijing for espionage.

Washington has also urged its allies to ban Huawei from building 5G networks, even as the Chinese company, the world’s top producer of telecoms equipment, has repeatedly said the spying concerns are unfounded.

In New Zealand, a member of the Five Eyes intelligence sharing network that includes the United States, the Government Communications Security Bureau (GCSB) in November turned down an initial request from local telecommunication firm Spark to include Huawei equipment in its 5G network, but later gave the operator options to mitigate national security concerns.

“The proposed solution in the UK to restrict Huawei from bidding for the core is exactly the type of solution we have been looking at in New Zealand,” Andrew Bowater, deputy CEO of Huawei’s New Zealand arm, said in an emailed statement.

Spark said it has noted the developments in Britain and would raise it with the GCSB.

The reports “suggest the UK is following other European jurisdictions in taking a considered and balanced approach to managing supplier-related security risks in 5G”, Andrew Pirie, Spark’s corporate relations lead, said in an email.

“Our discussions with the GCSB are ongoing and we expect that the UK developments will be a further item of discussion between us,” Pirie added.

New Zealand’s minister for intelligence services, Andrew Little, did not immediately respond to a request for comment.

British culture minister Jeremy Wright said on Thursday that he would report to parliament the conclusions of a government review of the 5G supply chain once they had been taken.

He added that the disclosure of confidential discussions on the role of Huawei was “unacceptable” and that he could not rule out a criminal investigation into the leak.

The decisions by Britain and Germany to use Huawei gear in non-core parts of 5G network makes it harder to prove Huawei should be kept out of New Zealand telecommunication networks, said Syed Faraz Hasan, an expert in communication engineering and networks at New Zealand’s Massey University

He pointed out Huawei gear was already part of the non-core 4G networks that 5G infrastructure would be built on.

“Unless there is a convincing argument against the Huawei devices … it is difficult to keep them away,” Hasan said.

(Reporting by Charlotte Greenfield; Editing by Himani Sarkar)

Source: OANN

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FILE PHOTO: The logo commodities trader Glencore is pictured in Baar
FILE PHOTO: The logo of commodities trader Glencore is pictured in front of the company’s headquarters in Baar, Switzerland, July 18, 2017. REUTERS/Arnd Wiegmann

April 26, 2019

(Reuters) – Glencore shares plunged the most in nearly four months on Friday after news overnight that U.S. regulators were investigating whether the miner broke some rules through “corrupt practices”.

Shares of the FTSE 100 company fell as much as 4.2 percent in early deals, and were down 3.5 percent at 310.25 pence by 0728 GMT.

On Thursday, Glencore said the U.S. Commodity Futures Trading Commission is investigating whether the company and its units have violated some provisions of the Commodity ExchangeAct and/or CFTC Regulations.

(Reporting by Muvija M in Bengaluru)

Source: OANN

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