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Though Trump veto likely, GOP’s mini mutiny on emergency declaration still a ‘big deal’: Byron York

The 12 Senate Republicans who joined Democrats on Thursday in blocking President Trump’s national emergency declaration might not be able to override what's expected to be Trump's first veto since taking office, but their show of opposition to the president remains significant, Washington Examiner chief political correspondent Byron York argued.

The president's call for action at the U.S.-Mexico border went down in defeat, 59-41, as Republicans senators including Rand Paul, Marco Rubio, Susan Collins and Mitt Romney said no to a plan that included spending about $8 billion on a border wall.

During Thursday's "Special Report" All-Star panel, York -- along with USA Today Washington bureau chief Susan Page and Washington Free Beacon editor-in-chief Matthew Continetti -- weighed in on the fallout from the vote and what's next for Trump’s proposal.

CLICK HERE TO VIEW THE FULL SHOW

York began by telling the panel that the White House feels “very confident” that Trump’s declaration will be upheld by the Supreme Court. He then pointed to the 12 Republican defectors who thought the declaration was an executive overreach.

“That is the biggest rejection, the biggest Republican rejection we’ve seen of the president so far in this presidency. That is a big deal even if the veto can’t be overturned,” York told the panel.

“That is the biggest rejection ... we’ve seen of the president so far in this presidency. That is a big deal even if the veto can’t be overturned.”

— Byron York, Washington Examiner chief political correspondent

York added that the border-wall construction can “go ahead” based on funding that has already been appropriated by Congress.

Page pointed out that of the 10 Republicans who are up for reelection in 2020, only one -- Collins of Maine -- voted against Trump, and that Sen. Thom Tillis, R-N.C., who wrote an op-ed opposing the declaration, ultimately “flipped” and voted with the president.

CLICK HERE TO GET THE FOX NEWS APP

Meanwhile, Continetti said “two issues” were taking place, one being the crisis at the southern border due to an influx of migrants and the other being whether President Trump has the constitutional authority to reallocate funds approved by the Congress.

“What I don’t understand are the Democrats, who deny the existence on the border, but at the same time hope that the courts uphold Trump’s effort to declare an emergency because they want to use the powers themselves for climate change and/or gun control," Continetti said. "That is being intellectually dishonest."

Source: Fox News Politics

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Ionity plans 400 electric car charging stations in Europe by end-2020

FILE PHOTO: 89th Geneva International Motor Show in Geneva
FILE PHOTO: A charging station for electric cars is pictured at the 89th Geneva International Motor Show in Geneva, Switzerland March 6, 2019. REUTERS/Denis Balibouse

March 21, 2019

STUTTGART, Germany (Reuters) – Ionity, the European electric vehicle charging joint venture of Volkswagen, BMW, Daimler and Ford, is on track to install 400 loading stations in Europe by end-2020 and has plans for more.

Ionity, which is not yet profitable, aims to install the 400 charging stations by the end of next year, with each having about 6 individual loading spots. It has so far installed 63 stations, with a further 52 under construction.

The group specializes in ultra high-speed charging along European motorways to try to address the issue of range, which along with price, is still seen as a reason for why demand for electric vehicles has been subdued so far.

“There’s a lot of momentum, activity will be high,” Ionity Chief Executive Michael Hajesch told reporters late on Wednesday. “The expansion plans are currently being prepared,” he added.

This could include more and bigger charging stations along highways but also busy roads leading in and out of larger metropolitan areas where demand for charging infrastructure is highest, Hajesch said.

He said that competition in the electric vehicle charging infrastructure space, where players range from oil majors and engineering conglomerates to utilities and carmakers, would increase further in coming years.

Earlier this year, Shell acquired U.S.-based Greenlots, following its acquisition of NewMotion in 2017, which has established the oil group as one of the largest players in the field.

The International Energy Agency estimates that the number of electric cars on the road will increase to 125 million by 2030, boosting demand for chargers. There were almost 3 million private chargers at homes and workplaces and about 430,000 public chargers in 2017, according to IEA estimates.

(Reporting by Ilona Wissenbach; writing by Christoph Steitz. Editing by Jane Merriman)

Source: OANN

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Predators’ Watson returning from 27-game suspension

FILE PHOTO: NHL: Florida Panthers at Nashville Predators
FILE PHOTO: Jan 19, 2019; Nashville, TN, USA; Nashville Predators left wing Austin Watson (51) celebrate after a goal during the third period against the Florida Panthers at Bridgestone Arena. Mandatory Credit: Christopher Hanewinckel-USA TODAY Sports

April 2, 2019

Nashville forward Austin Watson will make his return from a suspension of more than two months for alcohol abuse when the Predators visit the Buffalo Sabres on Tuesday.

Predators coach Peter Laviolette told reporters after Tuesday’s morning skate that Watson will play against the Sabres.

“He played really well down in Milwaukee,” Laviolette said of a minor league stint in which Watson scored four goals in two games. “He came back (from the suspension) in good shape. Just looking at him practicing, you could tell he was in great shape.”

Watson is looking forward to getting back on the ice. He missed Nashville’s past 27 games due to the suspension.

“I’m definitely excited,” Watson said in a video on the team website. “It’s been a little while. I was fortunate to get a couple games under my belt in Milwaukee and just try to come in here and play my game.”

Watson had 13 points (seven goals, six assists) in 34 games when he was suspended on Jan. 29.

Watson was admitted into Stage 2 of the NHL’s substance abuse and behavioral health program, according to the NHL and NHL Players’ Association.

It was Watson’s second suspension of the season. He missed the first 18 games after pleading no contest to a domestic assault charge in July. Watson was initially suspended for 27 games by the NHL, but an arbitrator reduced it to 18.

In a mid-January Instagram post, Watson acknowledged personal battles with alcoholism, depression and anxiety, saying he had been sober for nearly two years before drinking again in May of 2017.

He received probation for the June 16 incident in which officers found him and girlfriend Jenn Guardino in a parked car near a gas station in Franklin, Tenn., just south of Nashville.

Watson acknowledged pushing Guardino during an argument. When officers noticed red marks on her chest, Guardino said Watson caused them, and he was arrested.

In October, Guardino took the blame for the incident, saying in her statement, “Austin Watson has never, and would never hit or abuse me. My behavior and state of intoxication led to the police being involved that day.”

–Field Level Media

Source: OANN

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UK's Theresa May faces pressure to step down to save Brexit

British Prime Minister Theresa May is facing increased pressure from her own Conservative Party to either resign or to set a date for stepping down in order to build support for her Brexit plan.

British media reported Sunday that senior party figures were urging May to recognize her weakened political position and resign.

There is no indication from Downing Street a resignation is near.

May has thus far been unable to win more backing for her European Union withdrawal plan, which lawmakers defeated twice already.

She has raised the possibility of bringing the plan back to Parliament a third time if there is enough support for it to pass.

Britain is set to leave the EU on April 12 unless a deal is approved or other arrangements made.

Source: Fox News World

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NBA roundup: Pistons nail down final East playoff spot

NBA: Detroit Pistons at New York Knicks
Apr 10, 2019; New York, NY, USA; Detroit Pistons guard Luke Kennard (5) shoots over New York Knicks forward Isaiah Hicks (4) during the first half at Madison Square Garden. Mandatory Credit: Adam Hunger-USA TODAY Sports

April 11, 2019

Luke Kennard scored 27 points off the bench and the postseason-bound Detroit Pistons closed out their regular season finale by walloping the host New York Knicks 115-89 on Wednesday.

The Pistons (41-41) qualified for the Eastern Conference playoffs for just the second time since the 2009-10 season. They were swept by Cleveland in the opening round of the 2015-16 playoffs.

Detroit will be the No. 8 seed and face top-seeded Milwaukee in the first round.

Kennard’s point total was one shy of his career high. Reggie Jackson had 21 points and Andre Drummond supplied 20 points and 18 rebounds for Detroit. Wayne Ellington tossed in 12 points, all on 3-point makes.

Heat 113, Nets 94

Dwyane Wade ended his storied career with a triple-double of 25 points, 11 rebounds and 10 assists as visiting Miami was dealt a loss to Brooklyn, which clinched sixth place in the Eastern Conference.

The Nets honored Wade with a video tribute in pregame introductions by highlighting some of his notable shots against them over the course of a 16-year career while the text on the screen read “Thanks for the Memories.”

With longtime friends LeBron James, Chris Paul and Carmelo Anthony sitting courtside, Wade recorded his fifth career triple-double in his 1,054th regular-season game since entering the league as the fifth overall pick out of Marquette in 2003.

Spurs 105, Mavericks 94

LaMarcus Aldridge poured in 34 points and totaled 16 rebounds to help propel San Antonio to a resounding win over visiting Dallas in the regular-season finale for both teams.

It was also the final game in the 21-year career of Dallas forward Dirk Nowitzki, who led Dallas with 20 points and pulled down 10 rebounds in 31 minutes of play before leaving the court for the final time with 47 seconds remaining.

The win was San Antonio’s third straight and — combined with Oklahoma City’s win over Milwaukee — earned the Spurs the seventh seed in the NBA playoffs, where they will face the Denver Nuggets. Dallas, playing the second game of an emotional home-road back-to-back, had a two-game winning streak snapped and they will miss the postseason for the third straight season.

Trail Blazers 136, Kings 131

Rookie Anfernee Simons scored a season-high 37 points to lift Portland to a come-from-behind victory over visiting Sacramento.

Skal Labissiere added 29 points and 15 rebounds for the Trail Blazers, who trailed by as many as 28 points in the first half.

Jake Layman, Meyers Leonard and Gary Trent Jr. scored 19 points apiece for Portland (53-29), which gained the No. 3 seed in the Western Conference and will face No. 6 Oklahoma City (49-33) in the first round of the playoffs.

Nuggets 99, Timberwolves 95

Jamal Murray hit a go-ahead 3-pointer with 31.5 seconds left, and host Denver scored the final 15 points of the game to beat Minnesota to earn the No. 2 seed in the Western Conference.

Nikola Jokic finished with 29 points and 14 rebounds and Murray scored 17 for Denver. The Nuggets (54-28) will play the San Antonio Spurs in the first round of the playoffs.

Andrew Wiggins scored 25 points, Gorgui Dieng had 18 points and 11 rebounds and Cameron Reynolds added 19 points off the bench for the short-handed Timberwolves (36-46).

Clippers 143, Jazz 137 (OT)

With their respective playoff spots locked, Los Angeles and Utah ended their regular seasons in overtime, where the Clippers won to end a three-game losing streak.

Montrezl Harrell scored 24 points to lead the Clippers. Ivica Zubac added 22 points and 11 rebounds and Lou Williams scored 15 off the bench.

Utah rookie Grayson Allen scored a career-high 40 points and Georges Niang scored a career-best 24 off the bench.

Thunder 127, Bucks 116

Dennis Schroder scored 32 points to help Oklahoma City earn the No. 6 seed in the Western Conference with a win at Milwaukee.

The Bucks, who had already sealed the top seed in the Eastern Conference coming into the game, sat three starters — Giannis Antetokounmpo, Eric Bledsoe and Brook Lopez — to rest them for the playoffs.

Milwaukee (60-22) will start the playoffs against the eighth-seeded Detroit Pistons (41-41). The Thunder (49-33) will open the playoffs against the third-seeded Portland Trail Blazers (53-29).

Pacers 135, Hawks 134

Edmond Sumner made three free throws with 0.3 seconds remaining to lift Indiana to a road win over Atlanta in the final regular-season game for both teams.

Atlanta finished the season with a 29-53 record while Indiana (48-34) heads into the playoffs winners of only four of its last 13 games.

The fifth-place Pacers will oppose the fourth-place Boston Celtics (49-33) in the first round of the Eastern Conference postseason.

Magic 122, Hornets 114

Terrence Ross came off the bench to score a season-high 35 points, and playoff-bound Orlando ended Charlotte’s season.

Ross scored 19 of his points in the first half, when the Magic led by as many as 13. He finished 12 of 19 from the field and 6 of 10 from 3-point range. Ross’ performance overshadowed a 43-point explosion by Charlotte’s Kemba Walker in the defeat.

The Magic (42-40) remained the No. 7 seed in the Eastern Conference playoffs with the victory, and will face second-seeded Toronto in the first round of the playoffs.

Grizzlies 132, Warriors 117

Memphis dizzied visiting Golden State in the regular-season finale for both teams, parlaying a remarkable 86-point first half into a shocking win.

The loss had no bearing on the playoff seeding for the Warriors (57-25). The two-time defending champions enter the postseason as the top seed in the Western Conference and they will open the playoffs against the No. 8 seed, the Los Angeles Clippers, who defeated the Utah Jazz, 143-137, in overtime Wednesday.

The win allowed the Grizzlies (33-49) to avoid what would have been a second straight season of at least 50 losses. Rookie Jevon Carter scored 19 of his career-high 32 points in the first half, when the Grizzlies ran off to an 86-68 lead.

76ers 125, Bulls 109

Jonathon Simmons scored 20 points and Boban Marjanovic added 18 to lift host Philadelphia over Chicago.

T.J. McConnell tied his career-high with 18, Zhaire Smith contributed 17 and Greg Monroe had 14 for the Sixers, who completed their regular season with a 51-31 record and the No. 3 playoff seed in the Eastern Conference. The Sixers finished 31-10 at home.

The Sixers were extremely short-handed as numerous key players were held out for precautionary reasons as the playoffs are about to begin. All-Star center Joel Embiid, All-Star guard Ben Simmons, guard JJ Redick, forward Jimmy Butler and forward Tobias Harris were all held out.

–Field Level Media

Source: OANN

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South Carolina police arrest alleged serial rapist after more than 20 years at large

A South Carolina man accused of raping 12 women between 1995 and 2003 was arrested Tuesday, police said.

Gregory Frye, 52, was hit with “one count of burglary, first-degree kidnapping and criminal sexual conduct” with more charges likely to come, the Spartanburg Police Department said. About six months ago, authorities started to re-investigate the cases, which led them to collect new DNA samples and re-interview victims.

"Investigators from both agencies worked tirelessly reviewing all of the old cases, re-interviewing victims, identifying potential family members of possible suspects, collecting new DNA samples, and sending that evidence to the State Law Enforcement Division (SLED) for analysis," the department said in a statement. "We received notification from SLED last week that through their analysis, a suspect with a matching DNA profile had been identified."

REPORT ON PASTOR COUPLE'S SPENDING PROMPT ALLY'S WARNING TO NEWSPAPER: 'I CUT PEOPLE'

The attacks all happened in the early morning hours at apartment complexes in Spartanburg County. One woman said she was attacked twice. The victims were described as white women who were ages 14 to 51 years old, ABC News reported. Authorities said it was possible there were more than 12 victims.

Frye lived and worked in the area “over the years,” ABC News reported.

"I can't imagine how some of the victims must have felt knowing that it took this long," Spartanburg County Sheriff Chuck Wright said Tuesday. "Prayers have been answered, I just want you to know that. There's been a lot of people praying that we'd catch a break and we did. And not only did we catch a break, we ran with it."

SOUTH CAROLINA GIRL, 10, WHO DIED AFTER FIGHT AT SCHOOL TOOK NO SERIOUS PHYSICAL HITS, STATE SENATOR SAYS

Frye is being held at the Spartanburg County Detention Center. It was not immediately clear if he had an attorney.

"This is just a great day to know we got at least one person that is going to be held accountable for a reign of terror that he's caused for these victims," Wright said. "These victims are stronger than that and they are really inspirational."

Source: Fox News National

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The Latest: LA police: Bicycle-riding face slasher arrested

The Latest on a man on a bicyclist (all times local):

4:30 p.m.

Los Angeles police have arrested a suspect they say rode around on a bicycle and slashed the faces of at least six people.

Officer Norma Eisenman on Wednesday confirmed the arrest, but she did not immediately have additional details.

The slasher is believed to have struck six times since last month.

Police said earlier that a man standing near a bus stop was attacked on Monday, and a woman was slashed about a mile (1.6 kilometers) away.

They were hospitalized with severe injuries and are expected to survive.

Similar attacks happened in the same area of South Los Angeles on March 20 and in the neighboring cities of South Gate and Lynwood on March 27.

Police say the assailant rode a mountain bike and wielded an unknown type of "edged weapon."

___

1:50 p.m.

Los Angeles police say they are trying to find a bicyclist who rides close to people and slashes their faces. He is believed to have struck six times since last month.

Police in a statement said that a man standing near a bus stop was attacked on Monday and a woman was slashed about a mile (1.6 kilometers) away.

They were hospitalized with severe injuries and are expected to survive.

Similar attacks happened in the same area of South Los Angeles on March 20 and in the neighboring cities of South Gate and Lynwood on March 27.

Police say the assailant has used an unknown type of "edged weapon" and was last seen on a black and green mountain bike.

Source: Fox News National

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Cambodian authorities have ordered a one-hour reduction in the length of school days because of concerns that students and teachers may fall ill from a prolonged heat wave.

Education Minister Hang Chuon Naron said in an announcement seen Friday that the shortened hours will remain in effect until the rainy season starts, which usually occurs in May. The current heat wave, in which temperatures are regularly reaching as high as 41 Celsius (106 Fahrenheit), is one of the longest in memory.

Most schools in Cambodia lack air conditioning, prompting concern that temperatures inside classrooms could rise to unhealthy levels.

School authorities were instructed to watch for symptoms of heat stroke and urge pupils to drink more water.

The new hours cut 30 minutes off the beginning of the school day and 30 minutes off the end.

School authorities instituted a similar measure in 2016.

Source: Fox News World

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Explosions have rocked Britain’s largest steel plant, injuring two people and shaking nearby homes.

South Wales Police say the incident at the Tata Steel plant in Port Talbot was reported at about 3:35 a.m. Friday (22:35 EDT Thursday). The explosions touched off small fires, which are under control. Two workers suffered minor injuries and all staff members have been accounted for.

Police say early indications are that the explosions were caused by a train used to carry molten metal into the plant. Tata Steel says its personnel are working with emergency services at the scene.

Local lawmaker Stephen Kinnock says the incident raises concerns about safety.

He tweeted: “It could have been a lot worse … @TataSteelEurope must conduct a full review, to improve safety.”

Source: Fox News World

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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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At least one person is reported dead and homes have been destroyed by a powerful cyclone that struck northern Mozambique and continues to dump rain on the region, with the United Nations warning of “massive flooding.”

Cyclone Kenneth arrived just six weeks after Cyclone Idai tore into central Mozambique, killing more than 600 people and displacing scores of thousands. The U.N. says this is the first time in known history that the southern African nation has been hit by two cyclones in one season.

Forecasters say the new cyclone made landfall Thursday night in a part of Mozambique that has not seen such a storm in at least 60 years.

Mozambique’s local emergency operations center says a woman in the city of Pemba was killed by a falling tree.

Source: Fox News World

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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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