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China’s rocket start-ups go small in age of ‘shoebox’ satellites

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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Rep. Tim Ryan Concerned About Dems’ Attraction to Socialism

Rep. Tim Ryan, who announced his presidential campaign last week, said Wednesday he is concerned about a 2018 Gallup poll showing Democratic voters view socialism more favorably than capitalism because it will be up to the free market rather than the government to "decarbonize the American economy."

"It's going to be part targeted government investments that do need to be robust," the Ohio Democrat told CNN's "New Day." "It's going to be the free market that's going to make that happen. They have the magic of the free market, they have the innovation, the creativity, the profit motive...we can't be hostile to the free enterprise system."

Sen. Bernie Sanders, I-Vt., who is at the top of current polls for the Democratic nomination, identifies himself as a Democratic Socialist, and policies he and other prominent Democrats are often referred to by Republicans as being socialist.

Ryan said he does support the call made by Sanders and other Democratic candidates for Medicare for all healthcare coverage, however.

Meanwhile, Ryan said he believes the United States needs an industrial policy that will drive the next generation of jobs.

"We are so divided right now that we are starting to lose the long-term economic battle," said Ryan. "The president should be sitting down with the private industry, the Department of Energy, Department of Defense, National Science Foundation and say, okay, how do we win the electric vehicle market?" said Ryan.

He noted that by 2030, there will be 30 million electric vehicles in the United States, and he wants them to be U.S.-made, as well as the batteries and charging stations for them.

Source: NewsMax Politics

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Kentucky teen sues school for barring him from basketball because he refuses to get chickenpox vaccine

A Kentucky teenager is reportedly suing his local health department for not allowing him to play basketball due to his refusal to get a chicken pox vaccine.

Jerome Kunkel, 18, has filed a lawsuit against the Northern Kentucky Health Department after an outbreak of chickenpox took place at his school, the Assumption Academy, which is associated with Our Lady of the Sacred Heart Church in Union, KY.  After 32 cases of chickenpox were reported at the school, the NKY Health Department said that any unvaccinated students would not be allowed to attend school until 21 days after the onset of a rash on the last student or staff member.

Kunkel filed his lawsuit against the health department because he's disappointed that he can't attend basketball practice for his senior year, because he refuses to get the chicken pox vaccine. As a practicing Catholic, he says he cannot get the vaccine because it is "derived from aborted fetal cells" which he considers "immoral, Illegal and sinful," according to his lawsuit.

"The fact that I can't finish my senior year of basketball, like our last couple games is pretty devastating," Kunkel told CNN. "I mean you go through four years of high school, playing basketball, but you look forward to your senior year."

Some Catholics, like Kunkel, take issue with the fact that some vaccines were derived from cells taken from two fetuses who were aborted in the 1960s. The National Catholic Bioethics Center notes that a tiny sample of these cells were multiplied to create viruses that were, in turn, used to develop vaccines. Today's vaccines, however, are far removed from those cells because the cell lines have "grown independently."

TEXAS PEDIATRICIAN REUSING TO TREAT UNVACCINATED KIDS AS MEASLES CASES SPREAD

After 32 cases of chickenpox were reported at the Our Lady of the Sacred Heart Assumption Academy, the NKY Health Department said that any unvaccinated students would not be allowed to attend school until 21 days after the onset of a rash on the last student or staff member

After 32 cases of chickenpox were reported at the Our Lady of the Sacred Heart Assumption Academy, the NKY Health Department said that any unvaccinated students would not be allowed to attend school until 21 days after the onset of a rash on the last student or staff member (Google View )

Some vaccines have alternatives that have no history of connection with those 1960s cells, but one does not exist for chickenpox.

"And of course, we as Christians, we're against abortion," Jerome's father Bill Kunkel said.

The NCBC adds that Christians are "morally free to use the vaccines regardless of its historical association with abortion," because the risk to public health posed by choosing not to vaccinate "outweighs the legitimate concern about the origins of the vaccine." Pope Benedict XVI has even encouraged Christians to vaccinate their children.

The Kunkel family, however, said they feel the NKY Health Department is trying to push the chickenpox vaccine on them and they don't want to comply.

BOY NEVER VACCINATED RACKED UP $800G IN MEDICAL BILLS AFTER TETANUS REQUIRED 57-DAY HOSPITAL STAY: CDC

In response to the lawsuit, the NKY Health Dept. told Fox News that they were simply doing their job in trying to keep the public safe.

"We are aware of the lawsuit filed by Jerome Kunkel, and want to state that the actions taken by the Health Department with respect to Assumption Academy were done consistent with this agency’s statutory charge to protect the public health," a department statement said. Though NKY Health Dept. added it couldn't comment on an ongoing lawsuit, the statement said that individuals, including Kunkel's attorney, "have taken to social media to spread misinformation as part of their litigation strategy."

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The statement continued: "Chickenpox, also known as varicella, can be a very serious illness that is especially dangerous for infants and pregnant women or anyone who has a weakened immune system. The recent actions taken by the Northern Kentucky Health Department regarding the chickenpox outbreak at Our Lady of the Sacred Heart/Assumption Academy was in direct response to a public health threat and was an appropriate and necessary response to prevent further spread of this infectious illness."

Source: Fox News National

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Warren Calls For Scrapping US Electoral College

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India’s Congress party promises jobs, help for farmers ahead of election

Rahul Gandhi, President of India's main opposition Congress party, his mother and leader of the party Sonia Gandhi and India's former Prime Minister Manmohan Singh display copies of their party's election manifesto for the April/May general electio
Rahul Gandhi (C), President of India's main opposition Congress party, his mother and leader of the party Sonia Gandhi and India's former Prime Minister Manmohan Singh (R) display copies of their party's election manifesto for the April/May general election in New Delhi, India, April 2, 2019. REUTERS/Adnan Abidi

April 2, 2019

NEW DELHI (Reuters) – India’s main opposition Congress party said on Tuesday it would expand an existing jobs program to guarantee 150 days of work a year to rural households and provide additional help to farmers if the party wins a general election starting next week.

“Unemployment is the gravest challenge to the country and job creation is the highest priority for the economy,” the party said in a manifesto that identified farm distress and security for women among its main priorities.

The Mahatma Gandhi National Rural Employment Guarantee Act currently provides for 100 days of employment a year.

(Reporting by Devjyot Ghoshal; Writing by Krishna N. Das; Editing by Darren Schuettler)

Source: OANN

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Illinois boy who vanished in 2011 may have been found in Cincinnati area, officials say

An Illinois boy who disappeared in 2011 mayhave been found in Ohio eight years after he vanished, officials said Wednesday.

Timmothy Pitzen was 6 years old when he vanished. Investigators believe his mother, 43-year-old Amy Fry-Pitzen, picked him up from school in May 2011 and took the boy to the zoo and a water park in Wisconsin before she apparently killed herself in a hotel room in Illinois.

TEXAS BOY, 9, MISSING SINCE 2017 FOUND IN FLORIDA

The FBI Louisville field office confirmed on Twitter Wednesday that they were working with several law enforcement agencies — including the Cincinnati field office, the Hamilton County Sheriff's Office in Ohio and police in Aurora, Illinois, Newport, Kentucky and Cincinatti, Ohio — on a missing child investigation.

Aurora Police Sgt. Bill Rowley told The Associated Press that the boy "disappeared ten years ago and we've probably had thousands of tips of him popping up in different areas."

"We have no idea what we're driving down there for," he said. "It could be Pitzen. It could be a hoax."

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The department said they know there's a boy involved but don't know who he is, or if he has any connection to Pitzen, Rowley said, adding the force is sending two detectives to Cincinnati to investigate.

Pitzen, according to the National Center for Missing & Exploited Children, might go by the name "Tim" or "Timmy." He's a white male, with brown eyes and brown hair.

The Associated Press contributed to this report.

Source: Fox News National

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Sony forecasts lower annual profit as gaming business slows

FILE PHOTO: Sony Corp's logo is seen on its Crystal LED Integrated Structure display at its headquarters in Tokyo
FILE PHOTO: Sony Corp's logo is seen on its Crystal LED Integrated Structure (CLEDIS) display at its headquarters in Tokyo, Japan, February 2, 2017. REUTERS/Kim Kyung-Hoon

April 26, 2019

TOKYO (Reuters) – Japan’s Sony Corp expects its annual operating profit to drop 9.4 percent, after two straight years of record highs, as its gaming business slows and its PlayStation 4 console nears the end of its lifecycle.

The electronics and entertainment firm forecast profit for the year through March 2020 at 810 billion yen ($7.25 billion), versus 894.2 billion yen a year prior.

This compares with an average forecast of 834.49 billion yen from 22 analysts polled by Refinitiv.

(Reporting by Makiko Yamazaki; Editing by Himani Sarkar)

Source: OANN

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The headquarters of Wirecard AG is seen in Aschheim near Munich
FILE PHOTO: The headquarters of Wirecard AG, an independent provider of outsourcing and white label solutions for electronic payment transactions is seen in Aschheim near Munich, Germany April 25, 2019. REUTERS/Michael Dalder

April 26, 2019

BERLIN (Reuters) – Wulf Matthias will not stand for a second term as Wirecard’s chairman in 2020, German daily Handelsblatt said on Friday, citing sources in the financial industry.

For age reasons alone this would not be an option for Matthias, aged 75, Handelsblatt added.

Matthias will keep his mandate until it ends in 2020, the paper quoted a company spokeswoman as saying.

Wirecard was not immediately available for comment when contacted by Reuters.

(Reporting by Tassilo Hummel; Editing by Thomas Seythal)

Source: OANN

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Spain appears to have stemmed a surge in illegal migration that made it Europe’s main entry point for sea arrivals, after boosting joint efforts with neighboring Morocco to clamp down on the flow.

The country, which holds a national election Sunday, saw nearly 60,000 people reach its shores irregularly in 2018, most from Morocco and West Africa. But sea arrivals have plummeted since February.

While the migrant flow often fluctuates due to weather and other factors, an internal European Union report obtained by The Associated Press suggests intensified efforts to stop the migrants before they’re able to reach European waters are paying off.

The report doesn’t specify what Morocco did to hold back migrants or what it got in return other than “explicit recognition and support” from the Spanish government and the EU’s executive Commission in Brussels.

Source: Fox News World

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FILE PHOTO: The Credit Suisse logo is pictured on a bank in Geneva
FILE PHOTO: The Credit Suisse logo is pictured on a bank in Geneva, Switzerland, October 17, 2017. REUTERS/Denis Balibouse/File Photo

April 26, 2019

ZURICH (Reuters) – Shareholders approved Credit Suisse’s 2018 compensation report with an 82 percent majority on Friday, overriding frustrations expressed at its annual general meeting over jumps in executive pay during a year its share price plummeted.

Three shareholder advisers had recommended investors vote against Switzerland’s second-biggest bank’s remuneration report, while a fourth backed the report but expressed reservations about whether management pay matched performance.

The approval marked a slight increase over the 80.8 percent support garnered for the bank’s 2017 compensation report.

(Reporting by Brenna Hughes Neghaiwi; Editing by Michael Shields)

Source: OANN

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FILE PHOTO: Traders work on the trading floor of Barclays Bank at Canary Wharf in London
FILE PHOTO: Traders work on the trading floor of Barclays Bank at Canary Wharf in London, Britain December 7, 2018. REUTERS/Simon Dawson/File Photo

April 26, 2019

By Simon Jessop and Sinead Cruise

LONDON (Reuters) – Activist investor Edward Bramson is likely to fail in his attempt to get a board seat at Barclays’ annual meeting next week, even though shareholders are dissatisfied with performance of the group’s investment bank.

New York-based Bramson’s Sherborne Investors and the board of the British bank have been sparring for months over Barclays’ strategy.

Bramson wants to scale back Barclays’ investment bank to reduce risk and boost shareholder returns. Barclays Chief Executive Jes Staley remains staunchly committed to growing the business out of trouble.

After failing to persuade Staley to change course since he began building a 5.5 percent stake in the bank in March last year, Bramson hopes a board seat will rachet up the pressure.

Both sides have written to shareholders pitching their case and Bramson has courted investors in one-on-one meetings, although none have publicly backed him yet.

Interviews by Reuters with five institutional investors in Barclays suggest Bramson has failed to persuade them.

Sherborne declined to comment.

Mirza Baig, head of investment stewardship at top-40 shareholder Aviva Investors, said Bramson was welcome on the bank’s register but the boardroom was a step too far.

“He has created a lot of value at other businesses, but, generally, when he has come in as executive chair and taken full control. This would be a different case where he would just be one lone voice on the board,” he said.

A second Barclays shareholder said he backed Bramson’s goal of improving returns but via an “evolutionary” approach.

“If you look at banks that have tried to restructure their operations in investment banking – you look at Natwest Markets, Deutsche Bank – I struggle to think of an example where a roughshod restructuring has been accretive to shareholder value.”

A third, top-30 investor said he had been impressed by incoming Chairman Nigel Higgins’ grasp of the challenge in hand, and felt investors would give him time.

“Management know they have to execute and deliver improved returns… [Higgins] will continue to re-shape the board but obviously he didn’t feel that having someone with a diametrically opposed view on it would be helpful.”

A fourth, top-30 investor agreed: “We voted for the chairman to come in and it would be crazy to allow an activist to join the board (at this time).”

Jupiter Fund Management, the 24th largest investor, said it also planned to vote against Bramson.

Barclays has nearly 500 institutional shareholders, Refinitiv data showed.

Since Staley joined Barclays in 2015, the investment bank returns relative to capital invested have increased but are still underperforming the overall business.

Barclays’ first-quarter figures showed the investment bank posted a 6 percent drop in income from its markets business and a 17 percent fall in banking advisory fees.

Returns in the investment bank fell to 9.5 percent from 13.2 percent a year ago.

Famed for successful campaigns against smaller British companies in sectors from chemicals to advertising, Bramson’s board seat pitch has been rebuffed by shareholder advisory firms.

Institutional Shareholder Services, the world’s biggest, said Bramson’s proposal “falls short of what can reasonably be expected from a shareholder trying to address issues at a 28 billion pounds, systemically important bank”.

Glass Lewis also flagged concern about Bramson’s lack of banking experience and “questionable” shareholding structure, referring to Sherborne’s use of derivative contracts to hedge losses should its strategy fail.

Critics said the arrangement meant his interests are not truly aligned with those of other long-term shareholders.

British advisory firm Pirc, however, said it recommended that investors abstain in the vote on Bramson’s proposal as a challenge to the board to do better in the year ahead – or face a similar contest in 2020.

(Editing by Jane Merriman)

Source: OANN

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After an over 15-month pregnancy, “Akuti,” a 7-year-old Greater One Horned Indian Rhinoceros, gave birth as a result of induced ovulation and artificial insemination at Zoo Miami, April 23, 2019.

Ron Magill/Zoo Miami

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Source: Fox News World

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