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Iran’s Zarif warns U.S. of ‘consequences’ over oil sanctions, Strait of Hormuz

FILE PHOTO: Iranian Foreign Minister Mohammad Javad Zarif speaks during a news conference with Iraqi Foreign Minister Mohamed Ali Alhakim, in Baghdad
FILE PHOTO: Iranian Foreign Minister Mohammad Javad Zarif speaks during a news conference with Iraqi Foreign Minister Mohamed Ali Alhakim, in Baghdad, Iraq, March 10, 2019. REUTERS/Khalid Al-Mousily/File Photo

April 24, 2019

UNITED NATIONS (Reuters) – Iran will continue to find buyers for its oil and use the Strait of Hormuz to transport it, the country’s Foreign Minister Mohammad Javad Zarif said on Wednesday, warning that if the United States tries to stop Tehran then it should “be prepared for the consequences.”

“We believe that Iran will continue to sell its oil. We will continue to find buyers for our oil and we will continue to use the Strait of Hormuz as a safe transit passage for the sale of our oil,” Zarif also told event at the Asia Society in New York.

“If the United States takes the crazy measure of trying to prevent us from doing that then it should be prepared for the consequences,” he said.

(Reporting by Michelle Nichols and Lesley Wroughton; Editing by Chizu Nomiyama)

Source: OANN

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Vogue magazine makes comeback in Greece as debt crisis ebbs

The front page of Vogue magazine is seen in Athens
The front page of Vogue magazine is seen in Athens, Greece, March 31, 2019. REUTERS/George Georgiopoulos

March 31, 2019

By George Georgiopoulos

ATHENS (Reuters) – Fashion magazine Vogue hit the newsstands in Greece on Sunday, relaunched after a seven-year absence as publishers bet that the country’s economic recovery after a debt crisis will revive an appetite for glossy fashion and lifestyle prints.

Vogue Greece will be the luxury magazine’s 26th international edition, run by a 29-year old editor-in-chief Thaleia Karafyllidou.

The fashion bible’s publisher Conde Nast International has teamed up with Kathimerines Ekdoseis and the monthly edition will be distributed with Sunday’s Kathimerini newspaper, which is celebrating 100 years in print in 2019.

It will also hit newsstands in Greece and Cyprus.

“Dear Vogue Greece, welcome back again,” Anna Wintour, Vogue editor-in-chief since 1988, wrote in the Greek comeback edition titled “Eyes on the future” and starring model Bella Hadid on its cover.

“Your return after years of absence fills us with joy. Greece faced problems and lived dramatic moments, I can only imagine how tough it was. However, the signs of recovery are now visible, even here in America.”

Vogue Hellas originally came out in Greece in March 2000, published by Lyberis Publications, one of the kings of glossy magazines in the 1990s that also produced popular, trend-setting titles such as Status, Life & Style and Glamour.

Lyberis went bankrupt in 2012 when advertising dried up during the economic crisis that sent the country’s unemployment to nearly 28 percent, dampening appetites for high fashion and lifestyle goods.

The relaunch will also have a digital edition as it bets on a successful return in a magazine market hurt by declining readership and advertisers.

Greece’s recovery after a lengthy recession that shrank its economy by a quarter remains on track. Last year, the economy expanded by 1.9 percent while unemployment has come down to 18 percent.

(Reporting by George Georgiopoulos; Editing by Marie-Louise Gumuchian)

Source: OANN

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The Latest: Jurors at officer’s murder trial hear 911 calls

The Latest on the trial of a former Minneapolis police officer charged in the fatal shooting of an unarmed woman who had called 911 to report a possible crime (all times local):

11:35 a.m.

A defense attorney for a Minneapolis police officer who fatally shot an unarmed woman who had called 911 to report a possible crime near her home says the officer and his partner wouldn't have known they were responding to a report about a possible sexual assault.

Recordings of the two 911 calls Justine Ruszczyk Damond made to dispatchers shortly before she died in July 2017 were played Wednesday during Mohamed Noor's trial on murder and manslaughter charges. Damond's voice drew an emotional reaction from her family in court.

Defense attorney Tom Plunkett said the officers would not have heard the 911 calls before going to investigate. He said they were told by dispatch that there was a report of a woman screaming behind a building.

During the 911 calls, Damond said she could hear someone in the alley behind her home and thought it might be a sexual assault.

___

12:05 a.m.

Prosecutors may introduce body camera video as early as Wednesday in the trial of a former Minneapolis police officer who shot and killed an unarmed woman.

Mohamed Noor faces murder and manslaughter charges in the July 2017 death of Justine Ruszczyk Damond. Noor shot her when she approached his squad car minutes after she called 911 to report a possible sexual assault in the alley behind her home.

The body camera footage doesn't capture the shooting because Noor and his partner hadn't activated their cameras. But it does capture the aftermath as officers tried to save Damond.

The judge in the case sought to keep the media and public from seeing the footage, but she reversed herself after media outlets filed a legal challenge.

Source: Fox News National

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TSMC books steepest quarterly profit drop in over seven years

FILE PHOTO: A logo of Taiwan Semiconductor Manufacturing Co (TSMC) is seen at its headquarters in Hsinchu
FILE PHOTO: A logo of Taiwan Semiconductor Manufacturing Co (TSMC) is seen at its headquarters in Hsinchu, Taiwan August 31, 2018. REUTERS/Tyrone Siu

April 18, 2019

By Yimou Lee and Roger Tung

TAIPEI (Reuters) – TSMC, the world’s largest contract chipmaker, posted on Thursday its steepest profit decline in over seven years in the first quarter of the year, amid fears about the impact that slowing electronics demand could have on its business.

TSMC, formally Taiwan Semiconductor Manufacturing Co Ltd, posted net profit of T$61.4 billion ($1.99 billion) for January-March, 31.6 percent less than a year earlier, and the steepest fall since the third quarter of 2011.

The result also lagged the T$64.3 billion average of 21 analyst estimates compiled by Refinitiv.

The company, a proxy for global technology demand as its clients include iPhone maker Apple Inc, Qualcomm Inc and Huawei Technologies Co Ltd, forecast second-quarter revenue of $7.55 billion to $7.65 billion. That would be 2.5 percent to 3.8 percent lower than the year earlier.

It also forecast gross margin for the second quarter of 43 percent to 45 percent, while operating margin will be 31 percent to 33 percent, compared with 47.8 percent and 36.2 percent a year earlier, respectively.

The forecast comes as investors fret about a global tech slowdown after chip suppliers including Samsung Electronics Co Ltd recently flagged weak demand.

Slowing global demand for smartphones, as well as concerns over the prolonged U.S.-China trade war, has also taken a toll on Taiwan’s supply chain manufacturers.

Analysts said TSMC would gradually recover from sluggish smartphone sales in coming months and new demand including for devices equipped with fifth-generation (5G) communications technology could help keep full-year revenue at least broadly flat.

“Fortunately 5G should put TSMC back to growth and help it deliver double-digit earnings per share expansion in 2020 and 2021,” Mark Li, an analyst at Sanford C. Bernstein, wrote in a research note prior to the earnings announcement.

Analysts said TSMC could also benefit from Chinese clients stocking up on semiconductor products in case of any adverse outcome from the U.S.-China trade negotiations.

Revenue in U.S. dollar terms fell 16.1 percent to $7.1 billion in the first quarter, versus the company’s previously estimated range of $7.0 billion to $7.1 billion, and compared with the $7.15 billion average of 22 analyst estimates.

Prior to the earnings announcement, shares in TSMC closed up 1.15 percent versus a 0.6 percent fall in the wider market. The stock has risen around 18 percent so far this year.

(Reporting by Yimou Lee and Roger Tung; Editing by Christopher Cushing)

Source: OANN

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Daytona 500 sees massive crash started by Paul Menard

“The Big One” happened Sunday at “The Great American Race” — and it was gigantic. A crash involving 18 cars during the 61st running of the Daytona 500.

Paul Menard triggered the multi-car wreck shortly after a restart with 10 laps to go.

Menard turned Matt DiBenedetto, who slammed into the wall and started a chain-reaction that collected nearly 20 cars. It brought out a red flag that stopped the race during the cleanup.

Menard took responsibility for “The Big One” — NASCAR slang describing any crash usually involving five or more cars: “I’ll take the blame for that one.”

Defending Daytona 500 champion Austin Dillon, Chase Elliott, Ryan Blaney, Aric Almirola and Daniel Suarez were among those involved in the mess.

Almirola seemingly had the wildest ride, his back wheels getting lifted off the pavement and landing on David Ragan’s windshield.

The Associated Press contributed to this report.

Frank Miles is a reporter and editor covering geopolitics, military, crime, technology and sports for FoxNews.com. His email is Frank.Miles@foxnews.com.

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New Zealand mosque shooting suspect ‘changed completely’ after traveling to Europe, other countries, family says

The Australian man suspected of killing 50 people at two New Zealand mosques on Friday “changed completely” after he traveled to countries in Europe and other parts of the world following his father’s death in 2010, his family said.

The 28-year-old suspect, who Fox News is not naming, appeared in court Saturday on a murder charge, although the judge said “it is reasonable to assume that there will be others.” The suspect’s grandmother, Marie Fitzgerald, 81, told Australia’s 9News on Saturday that she saw her grandson about a year ago and didn’t spot any red flags, even though investigators believe he had been plotting the massacre for two years.

The mosque shooting suspect, charged for murder in relation to the mosque attacks, is seen in the dock during his appearance in the Christchurch District Court, New Zealand.

The mosque shooting suspect, charged for murder in relation to the mosque attacks, is seen in the dock during his appearance in the Christchurch District Court, New Zealand. (Reuters)

“He was just his normal self you know,” Fitzgerald told 9News. “We all chatted and had a meal together to celebrate that occasion and now everyone is devastated.”

‘XENA’ STAR LUCY LAWLESS, A NEW ZEALAND NATIVE, SINGS TRIBUTE TO MOSQUE SHOOTING VICTIMS

Fitzgerald said the 28-year-old’s father died from cancer in 2010 and the death took a toll on him. The accused gunman, who grew up in New South Wales, Australia, then began traveling to countries in Europe and other parts of the world and returned a changed man, his grandmother said.

“It’s only since he traveled overseas I think that this boy has changed completely,” Fitzgerald said.

The family said they are cooperating with investigators and said they are “shattered” for those who were killed.

Marie Fitzgerald, the suspect's grandmother, and Terry Fitzgerald, the suspect's uncle, spoke out after the New Zealand mass shooting.

Marie Fitzgerald, the suspect's grandmother, and Terry Fitzgerald, the suspect's uncle, spoke out after the New Zealand mass shooting. (CHANNEL 9 via AP)

“We are so sorry for the families for the dead and the injured. I can’t think nothing else -- just shattered is the word," the suspect’s uncle Terry Fitzgerald said.

Tracey Gray, who previously hired the suspect as a personal trainer at Big River Squash and Fitness Center in Grafton, also told 9News the suspected gunman quit his job at the gym by early 2012 to travel the world.

“He was professional, he was punctual, reliable... as normal as one person to the next. He never showed any extremes or extremist views or any crazy behavior,” Gray recalled of her former employee.

Gray said the 28-year-old “had no specific destination.”

NEW ZEALAND MOSQUE MURDERS REMIND ME OF MASSACRE AT PITTSBURGH SYNAGOGUE I ATTENDED

Friends of a missing man grieve outside a refuge center in Christchurch.

Friends of a missing man grieve outside a refuge center in Christchurch. (AP)

"It was my understanding he was open to see the world, to see as many places as possible. He just wanted to experience different experiences,” she said.

The suspect wrote in his 74-page manifesto that he paid for his travels using money from bitcoin investments and described himself as a white supremacist who was out to avenge attacks in Europe perpetrated by Muslims.

NEW ZEALAND MASSACRE SUSPECT MADE STOPS IN NORTH KOREA, PAKISTAN DURING GLOBAL TRAVELS, REPORTS SAY

Authorities said the suspect traveled to the Balkans in the past three years and toured historic sites while studying battles between Christians and the Ottoman empire. He visited Serbia, Montenegro, Bosnia and Herzegovina, and Croatia, in late 2016, Bulgarian Chief Prosecutor Sotir Tsatsarov told Reuters. He made a trip to Bulgaria, Romania and Hungary last November.

In 2017, he traveled to France, Spain and Portugal, Reuters reported.

Mourners place flowers as they pay their respects at a makeshift memorial near the Masjid Al Noor mosque in Christchurch, New Zealand, Sunday, March 17, 2019, where one of the two mass shootings occurred.

Mourners place flowers as they pay their respects at a makeshift memorial near the Masjid Al Noor mosque in Christchurch, New Zealand, Sunday, March 17, 2019, where one of the two mass shootings occurred. (AP)

Bulgarian Foreign Minister Elaterid Zachariah said the mosque shooting suspect had a “very serious knowledge of the Balkan history in details I would say even few people in the Balkans know.”

The suspect also visited Turkey twice in 2016 — on March 17-20 and from Sept. 13 to Oct. 25, State broadcaster TRT said. On his Facebook page that has since been taken down, the suspect also visited Pakistan last year.

While the details of  the suspect's travels are sketchy, authorities in those countries said they are investigating his movements and any contacts he might have had with local people.

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Officials raised the death toll of the mosque massacres to 50 on Sunday as New Zealand Prime Minister Jacinda Ardern said a small number of bodies would be released to families.

Friday’s attack was New Zealand’s deadliest shooting in modern history.

The Associated Press contributed to this report. 

Source: Fox News World

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UN probing North Korea sanctions violations in 20 countries

U.N. experts say they are investigating possible violations of sanctions on North Korea in about 20 countries, from alleged clandestine nuclear procurement in China to arms brokering in Syria and military cooperation with Iran, Libya and Sudan.

A report to the Security Council obtained Monday by The Associated Press also details the appearance in North Korea of a Rolls-Royce Phantom, Mercedes-Benz limousines and Lexus all-wheel drive luxury vehicles in violation of a luxury goods ban.

And it notes a trend in North Korea's evasion of financial sanctions by "using cyberattacks to illegally force the transfer of funds from financial institutions and cryptocurrency exchanges."

The report's executive summary obtained in February had said North Korea's nuclear and missile programs "remain intact" and its leaders are dispersing missile assembly and testing facilities.

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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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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