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White House Proposes Capping Student Loan Borrowing

The Trump administration is proposing new limits on student borrowing as part of a broader plan to curb the cost of college.

White House officials announced the plan Monday amid a list of education priorities as Congress sets out to overhaul the Higher Education Act.

The plan says Congress should put a cap on federal student loans to prevent borrowers from taking on unmanageable debt. Officials didn't propose specific limits but said it could vary by academic program.

The White House also wants to combine five loan repayment options into one plan that would cap monthly payments at 12.5 percent of a borrower's discretionary income.

Trump's oldest daughter and adviser Ivanka Trump said the plan aims to "modernize our higher education system to make it more affordable, flexible and outcomes-oriented."

Source: NewsMax America

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UK PM May can only deliver Brexit deal with Labour’s support: minister

Britain's Secretary of State for Health Matt Hancock arrives at the Houses of Parliament in London
Britain's Secretary of State for Health Matt Hancock arrives at the Houses of Parliament in London, Britain April 3, 2019. REUTERS/Hannah McKay

April 4, 2019

LONDON (Reuters) – British Prime Minister Theresa May will only be able to pass her Brexit divorce deal with the help of opposition Labour lawmakers because eurosceptics in her party are opposed to the agreement, the health minister Matt Hancock said.

May held talks with opposition Labour Party leader Jeremy Corbyn on Wednesday on how to break the Brexit impasse, enraging some lawmakers in her own party.

“Delivering the prime minister’s deal on Conservative votes has been tried and has not succeeded, the prime minister has done everything she possible can to get that deal through, and so the only option left open to her is to seek Labour votes,” Hancock told BBC radio.

(Reporting By Andrew MacAskill and Paul Sandle)

Source: OANN

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Goldman Sachs’ investment bank consumer, retail group head to step down

FILE PHOTO: A view of the Goldman Sachs stall on the floor of the New York Stock Exchange
FILE PHOTO: A view of the Goldman Sachs stall on the floor of the New York Stock Exchange July 16, 2013. REUTERS/Brendan McDermid/File Photo

April 8, 2019

By Elizabeth Dilts

NEW YORK (Reuters) – Goldman Sachs Group Inc’sN> global head of the investment bank’s consumer and retail group, Rob Sweeney, will step down at the end of April, according to an internal memo seen by Reuters.

Stephan Feldgoise, currently co-head of mergers and acquisitions in the Americas, will replace Sweeney as head of the investment banking team that advises consumer facing-companies.

Sweeney is leaving to join a private equity firm, according to a source familiar with his plans. The name of the firm was not immediately known.

Under Sweeney’s leadership, Goldman’s consumer and retail group ranked No. 1 in several global league tables last year.

Feldgoise, who will maintain his current duties as co-head of mergers and acquisitions in the Americas, will be tasked with maintaining the group’s top rank, making deeper client relationships and developing a global team, according to the memo signed by the heads of the investment bank Gregg Lemkau, Dan Dees and Marc Nachmann.

Feldgoise, who joined Goldman Sachs as a mergers and acquisitions associate in 1997, was previously a senior member of the consumer retail group. In this new role, Feldgoise will also join the investment banking division’s executive committee.

(Reporting By Elizabeth Dilts; Editing by David Gregorio)

Source: OANN

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Conway questions why Mueller left obstruction of justice question unanswered in report

White House counselor Kellyanne Conway questioned on Sunday why Special Counsel Robert Mueller did not rule whether or not President Trump obstructed justice during the Russia investigation and argued that Mueller leaving the ruling open means that Trump has been exonerated.

“That’s not really the job of a prosecutor. The job of a prosecutor is to gather evidence and decide whether to indict or to decline to indict,” Conway said on ABC’s “This Week.” “They declined to indict. The president is not going to jail, he’s staying in the White House for five-and-a-half more years,” Conway said. “Why? Because they found no crime, no conspiracy. That was the central premise.”

In the redacted report released last Thursday, Mueller declined to make a decision on whether or not Trump obstructed justice with his efforts to curtail the special counsel’s investigation, but he did lay out in the report multiple episodes in which Trump directed others to influence or curtail the Russia investigation after the special counsel's appointment in May 2017.

KELLYANNE CONWAY REITERATES CALL FOR ADAM SCHIFF'S RESIGNATION AFTER MUELLER REPORT'S RELEASE

Those efforts "were mostly unsuccessful, but that is largely because the persons who surrounded the President declined to carry out orders or accede to his requests," Mueller wrote.

In one particularly dramatic moment, Mueller reported that Trump was so agitated at the special counsel's appointment on May 17, 2017, that he slumped back in his chair and declared: "Oh my God. This is terrible. This is the end of my presidency. I'm f---ed."

In June of that year, Mueller wrote, Trump directed White House Counsel Don McGahn to call Deputy Attorney General Rod Rosenstein, who oversaw the probe, and say that Mueller must be ousted because he had conflicts of interest. McGahn refused — deciding he would sooner resign than trigger a potential crisis akin to the Saturday Night Massacre of firings during the Watergate era.

According to the report, Trump also ordered McGahn to deny a January 2018 New York Times story that detailed the president’s efforts to have his counsel fire Mueller.

Trump also made another attempt to alter the course of the investigation, meeting with former campaign manager Corey Lewandowski and dictating a message for him to relay to then-Attorney General Jeff Sessions. The message: Sessions would publicly call the investigation "very unfair" to the president, declare Trump did nothing wrong and say Mueller should limit his probe to "investigating election meddling for future elections." The message was never delivered.

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On the McGahn incident, Conway did not dispute the former White House counsel’s statement during her interview on Sunday, but she expressed her doubts that McGahn would have continued in his post if the events had played out the way they did in the report.

“I believe that Don McGahn is an honorable attorney who stayed on the job 18 months after this alleged incident took place,” Conway said. “If he were being asked to obstruct justice or violate the Constitution or commit a crime — help to commit a crime by the president of the United States — he wouldn’t have stayed.”

Conway added: “I certainly wouldn’t stay.”

The Associated Press contributed to this report.

Source: Fox News Politics

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FC Cincinnati back on the road, faces lowly New England

MLS: Portland Timbers at FC Cincinnati
Mar 17, 2019; Cincinnati, OH, USA; FC Cincinnati forward Darren Mattocks (11), midfielder Leonardo Bertone (6), defender Mathieu Deplagne (17), and forward Roland Lamah (7) celebrate after a goal against the Portland Timbers in the second half at Nippert Stadium in the inaugural home match for FCC. FCC defefated the Timbers 3-0. Mandatory Credit: Kirby Lee-USA TODAY Sports

March 23, 2019

FC Cincinnati will look to keep its early-season roll going in its inaugural MLS campaign on Sunday when it hits the road again, traveling to New England take on the Revolution.

Game time is 4 p.m. EDT at Gillette Stadium.

For expansion Cincinnati, the early results have been solid. The club opened with a loss at Seattle, before rallying with a tie at defending champion Atlanta, then beating Portland 3-0 in its home opener in Week 3.

“It’s great to play at home and great to see what our fan base can do already for us as a group,” Cincinnati coach Alan Koch told reporters earlier this week. “But our jobs are between the white lines no matter where we play. We shouldn’t change the way we go about our work. We lose we shouldn’t change, we win, we shouldn’t change. Our preparation for every game is consistent.”

Defender Nick Hagglund feels that the quality of play Cincinnati has turned in early in the season has sent a message to the rest of the league.

“We are here,” Hagglund said. “We’re not just an expansion team that people are expecting to roll over. We are a team that’s ready to go. We’re hungry.”

New England, winless and holding just one point through three games, is coming off a 3-2 loss at Toronto. But the Revolution are confident as they return home.

“We know what we can do at home,” New England midfielder Diego Fagundez said. “We know what style of play we have and with the team we have, we can definitely win this game. We’re at home and we can definitely show them who’s going to be the boss here.”

Both sides will be missing some key pieces because of national team call-ups this weekend. New England will be without rookie forward Justin Rennicks, while Cincinnati will be missing Kendall Waston, Allan Cruz, Darren Mattocks and Alvas Powell.

–Field Level Media

Source: OANN

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U.S. House condemns Trump’s courtroom efforts to end Obamacare

FILE PHOTO: U.S. President Trump speaks at the National Republican Congressional Committee Annual Spring Dinner in Washington.
FILE PHOTO: U.S. President Donald Trump arrives to speak at the National Republican Congressional Committee Annual Spring Dinner in Washington, U.S., April 2, 2019. REUTERS/Joshua Roberts

April 3, 2019

By Susan Cornwell

WASHINGTON (Reuters) – Calling it an effort to take away Americans’ healthcare, the U.S. House of Representatives voted Wednesday to condemn the Trump administration’s courtroom bid to eliminate Obamacare.

The 240-186 House vote was a largely symbolic move aimed at keeping the spotlight on the issue. Just eight Republicans joined majority Democrats in voting to urge the administration to reverse its assault against Obamacare, as the 2010 Affordable Care Act that overhauled the U.S. healthcare system is popularly known.

House Democrats brought the resolution to force lawmakers to take a stand on the Justice Department’s recent move asking an appeals court to overturn Obamacare on constitutional grounds.

President Donald Trump, a Republican, has pledged to deliver a better healthcare system than Obamacare if the Supreme Court tosses out his predecessor’s signature domestic achievement.

“The American people deserve to know exactly where their representatives stand on the Trump administration’s vicious campaign to take away their healthcare,” House Speaker Nancy Pelosi, a Democrat, said.

But Republicans called the resolution a “political stunt”. Representative Kevin Brady said that if the Supreme Court did strike down Obamacare, Republicans would act to protect some provisions, including coverage guarantees for people with pre-existing medical conditions.

Trump says his administration is drawing up a new healthcare plan ahead of the 2020 election that could be implemented soon afterwards, assuming he wins re-election and Republicans win back the House and keep the Senate.

But Democrats say some 20 million people could lose insurance if the courts toss out Obamacare. They have happily seized on the issue again after having won control of the House last November while campaigning heavily on strengthening Obamacare.

“The president’s view will make 2020 all about healthcare,” House Majority Leader Steny Hoyer said. “I would suggest that’s good for us (Democrats). The American people are for having access to care.”

Some Republicans who voted with Democrats Wednesday were from “swing” districts, and may worry that opposing Obamacare could be a liability when they face the voters again next year.

Trump accuses Democrats of seeking “a socialist takeover of American healthcare,” and is certain to take that argument onto the 2020 campaign trail. “This (healthcare) will be a great campaign issue,” he tweeted Wednesday ahead of the House vote.

Trump vowed in the 2016 presidential election to end Obamacare but failed to do so during his first two years in power, despite Republicans controlling both House and Senate.

(Reporting by Susan Cornwell in Washington; Editing by James Dalgleish)

Source: OANN

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Poll: Americans Say They Paid More or Same Fed Tax

Sixty-eight percent of Americans say they paid the same amount or more in federal taxes for 2018 as they did the previous year, despite a "tremendous" tax break promised by President Donald Trump before he passed the Tax Cuts and Jobs Act in 2017, according to a new Hill-HarrisX survey released Thursday.

Taxes were filed April 15, and the poll, which surveyed 1,001 registered voters, was conducted April 12-13.

The poll found:

  • 36% of Americans said they paid the same amount in federal taxes last year than in 2017.
  • 32% said they paid more last year than in 2017.
  • 18% said they paid less last year than in 2017.
  • 46% of respondents earning $125,000 or more per year said they owed more in 2018.
  • 33% of respondents making between $50,000 and $75,000 said they owed more in 2018 as well.
  • 29% of respondents making between $100,000 and $125,000 paid less in federal taxes in 2018.

HarrisX CEO Dritan Nesho warned a number of respondents could have filed their own taxes.

"You might actually have a little bit of an effect where people tried to do their own taxes, rather than hire a professional," Nesho told Hill.TV's Jamal Simmons. "They're not realizing a lot of the returns or a lot of the gains that they could be realizing."

Source: NewsMax America

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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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