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Cohen to accuse Trump of knowledge in Wikileaks leak plot, call him a 'racist,' 'conman'

In his testimony before the House Oversight and Reform Committe Wednesday, Michael Cohen will accuse his former client, President Trump, of knowing that his adviser Roger Stone was reaching out to Wikileaks concerning the publication of stolen Democratic National Committee emails.

According to his prepared remarks, first obtained by Politico, Cohen will tell Congress that Trump "was a presidential candidate who knew that Roger Stone was talking with Julian Assange about a WikiLeaks drop of Democratic National Committee emails."

Stone, who has denied any wrongdoing, has been indicted by a grand jury on charges of obstruction, making false statements and witness tampering as part of Special Counsel Robert Mueller’s probe into possible Russian collusion by the Trump campaign.

Cohen will also call Trump a "racist," a "conman," and a "cheat," all based, he will claim, on "documents that are irrefutable."

"I’m giving the Committee today three years of President Trump’s financial statements, from 2011-2013, which he gave to Deutsche Bank to inquire about a loan to buy the Buffalo Bills and to Forbes," Cohen will say. " It was my experience that Mr. Trump inflated his total assets when it served his purposes, such as trying to be listed among the wealthiest people in Forbes, and deflated his assets to reduce his real estate taxes."

Later, Cohen adds: "Mr. Trump directed me to find a straw bidder to purchase a portrait of him that was being auctioned at an Art Hamptons Event. The objective was to ensure that his portrait, which was going to be auctioned last, would go for the highest price of any portrait that afternoon. The portrait was purchased by the fake bidder for $60,000. Mr. Trump directed the Trump Foundation, which is supposed to be a charitable organization, to repay the fake bidder, despite keeping the art for himself."

Cohen also claims he will provide "copies of letters I wrote at Mr. Trump’s direction that threatened his high school, colleges, and the College Board not to release his grades or SAT scores."

Meanwhile, in a remarkable social media post on the eve of the hearing, a top Republican suggested that lurid details of Cohen's private life may take center stage.

The blockbuster public testimony threatened to overshadow Trump's summit in Vietnam with North Korean leader Kim Jong Un, prompting some observers to say the timing was more than coincidental. The testimony comes as Cohen is set to begin a three-year prison sentence in May -- he has pleaded guilty to lying to Congress in 2017 and committing campaign finance violations while working for Trump.

Tuesday was the first of three consecutive days of congressional appearances scheduled for Cohen. After the public hearing Wednesday, he will appear before the House intelligence panel Thursday, again speaking in private.

Cohen's public testimony is likely to be a spectacle, in part because of the accusations he plans to level against the president. He'll give lawmakers a behind-the-scenes account of what he will claim is Trump's lying, racism and cheating, and possibly even criminal conduct, according to a person with knowledge of the matter. He is expected to provide what he will claim is evidence, in the form of documents, said the person, who requested anonymity to discuss the confidential testimony.

Republicans are expected to aggressively attempt to discredit Cohen, given that he has acknowledged lying previously. White House spokeswoman Sarah Sanders said in a statement Tuesday it was "laughable that anyone would take a convicted liar like Cohen at his word, and pathetic to see him given yet another opportunity to spread his lies."

RNC TELLS MICHAEL COHEN TO 'HAVE FUN IN PRISON,' AS GOP PREPS WAR ROOM AHEAD OF TESTIMONY

It appeared unlikely Cohen would directly implicate Trump in instructing his subordinates to lie. Buzzfeed News last month published a bombshell, discredited report, citing two law enforcement officials, who said Cohen acknowledged to Mueller’s office that Trump told him to lie to Congress about a potential real estate deal in Moscow, and claim that the negotiations ended months before they did so as to conceal Trump’s involvement.

But Mueller issued his first public statement in more than a year to repudiate the BuzzFeed report just 24 hours after its publication, flatly asserting that the story was "not accurate." The Washington Post has since reported that Mueller intended his rare denial to mean that the story was "almost entirely incorrect," and that the Special Counsel's Office immediately "reviewed evidence to determine if there were any documents or witness interviews like those described, reaching out to those they thought might have a stake in the case. They found none."

One Republican House member, meanwhile, did more than just question Cohen's credibility in the run-up to the hearing on Wednesday. Florida Rep. Matt Gaetz tweeted Tuesday that the world is "about to learn a lot" about Cohen and suggested he knew of disparaging information that could come out during his testimony.

Gaetz, a Trump ally who talks to the president frequently, is not a member of the committee that will question Cohen. He did not offer any evidence. Still, the tweet was extraordinary because his remarks appeared to some Democrats to constitute threatening or intimidating a witness.

Florida Rep. Matt Gaetz defended a tweet he sent Tuesday about Michael Cohen, suggesting that President Trump’s former attorney had been unfaithful to his wife.

Florida Rep. Matt Gaetz defended a tweet he sent Tuesday about Michael Cohen, suggesting that President Trump’s former attorney had been unfaithful to his wife. (Getty/AP)

In a tweet, House Speaker Nancy Pelosi wrote, "I encourage all Members to be mindful that comments made on social media or in the press can adversely affect the ability of House Committees to obtain the truthful and complete information necessary to fulfill their duties."

Pelosi went on to suggest that Gaetz may have even opened himself to legal liability, warning that the Constitution's Speech or Debate Clause -- which provides virtually absolute legal immunity to statements made by senators and representatives during congressional debates -- might not protect Gaetz, who made his comments away from the House floor.

"We're witness testing, not witness tampering," Gaetz countered in an interview with reporters. "When witnesses come before Congress, their truthfulness and veracity are in question and we have the opportunity to test them."

Lanny Davis, one of Cohen's lawyers, said in a statement that he wouldn't respond to Gaetz's "despicable lies and personal smears, except to say we trust that his colleagues in the House, both Republicans and Democrats, will repudiate his words and his conduct."

Democrats have been alternately suspicious of Cohen and eager to hear what he has to say. Sen. Mark Warner, the intelligence panel's top Democrat, suggested in a brief statement to reporters outside Tuesday's interview that Cohen had provided important information.

"We're witness testing, not witness tampering."

— Florida Republican Rep. Matt Gaetz

JUDGE NAP: COHEN TESTIMONY IS DESIGNED TO DISTRACT FROM SECOND TRUMP-KIM SUMMIT

"Two years ago when this investigation started I said it may be the most important thing I am involved in in my public life in the Senate, and nothing I've heard today dissuades me from that view," Warner said.

Senators on the intelligence panel attended Tuesday's private meeting, a departure from the committee's usual practice, where witness interviews are conducted by staff only. The Senate intel panel's chairman, Richard Burr, suggested to The Associated Press before the meeting that his committee would take steps to ensure that Cohen was telling the truth.

"I'm sure there will be some questions we know the answers to, so we'll test him to see whether in fact he'll be truthful this time," Burr said.

At least one Republican member of the intelligence panel refused to go to the meeting. "I don't have any desire to go listen to a lying lawyer," said Texas Sen. John Cornyn.

In addition to lying to Congress, Cohen pleaded guilty last year to campaign finance violations for his involvement in payments to two women who allege they had affairs with Trump.

Federal prosecutors in New York have said Trump directed Cohen to arrange the payments to buy the silence of adult film star Stormy Daniels and former Playboy model Karen McDougal in the run-up to the 2016 campaign. Cohen told a judge that he agreed to cover up Trump's "dirty deeds" out of "blind loyalty."

Trump denies the allegations and says Cohen lied to get a lighter sentence.

The person with knowledge of what Cohen intends to tell Congress said he will provide information about Trump's financial statements that he will claim shows Trump deflated assets to pay lower taxes on golf courses; will provide details of the Daniels payment and claim that Trump organized a cover-up by pretending Cohen would be repaid; and claim that Trump talked to him and asked him questions about the Trump Moscow project throughout 2016.

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He is also expected to discuss what he knows about a meeting between Trump campaign associates and a Russian lawyer in Trump Tower before the 2016 election, a matter that is of particular interest to Mueller and congressional investigators.

Cohen is not expected to discuss matters related to Russia in the public hearing, saving that information for the closed-door interviews with the intelligence committees. House Oversight and Reform Chairman Elijah Cummings has said he doesn't want to interfere with Mueller's investigation into Russian interference in the 2016 election and links to Trump's campaign.

Members of the oversight panel are expected to ask questions about the campaign finance violations, Trump's business practices and compliance with tax laws and "the accuracy of the president's public statements," according to a memo laying out the scope of the hearing.

Fox News' Chad Pergram and Elizabeth Zwirz and The Associated Press contributed to this report.

Source: Fox News Politics

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Lyft raises IPO price range

FILE PHOTO: The Lyft Driver Hub is seen in Los Angeles
FILE PHOTO: The Lyft Driver Hub is seen in Los Angeles, California, U.S., March 20, 2019. REUTERS/Lucy Nicholson

March 27, 2019

(Reuters) – Ride-hailing company Lyft Inc on Wednesday increased the price range for its initial public offering to a range of $70 to $72 per share

Its previous price range was $62 to $68 per share, Lyft said in a filing.

(Reporting by Diptendu Lahiri in Bengaluru; Editing by Anil D’Silva)

Source: OANN

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Afghan official: coal mine blast, collapse kills 6 miners

An Afghan official says at least six coal miners have been killed when an explosion in a coal mine caused two separate tunnels to collapse in northern Samangan province.

Sefatullah Samangani, the deputy provincial governor, said Tuesday that another miner was wounded in the collapse, which occurred on Monday in the remote Dar-i-Suf district.

The deputy governor says miners in the area are predominantly poor, local day laborers who have no other options to make a living.

He added that miners in these areas work without proper equipment or knowledge of safety measures.

Source: Fox News World

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Bob Dylan Whiskey Distillery to Open Fall 2020 in Nashville

More information is being released about music icon Bob Dylan's project in downtown Nashville in conjunction with the 50th anniversary of his "Nashville Skyline" album.

Dylan is set to help open a whiskey distillery in fall 2020 under the brand "Heaven's Door."

A news release says Heaven's Door Spirits will transform the 160-year-old Elm Street Church into the Heaven's Door Distillery and Center for the Arts, featuring the distillery, a whiskey library, a restaurant and a 360-seat live performance venue.

It will also feature Dylan's paintings and metalwork sculptures.

The group unveiled the opening date and some facility details Tuesday to coincide with the anniversary of the release of Dylan's ninth album.

Source: NewsMax America

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Erdogan shows New Zealand attack video in weekend rallies

Turkey's president showed parts of a video taken by the attacker who killed 50 people at two mosques in New Zealand to comment on what he called rising Islamophobia.

President Recep Tayyip Erdogan showed the clips over the weekend during campaign rallies for March 31 local elections. The video, which was blurred but had clear sounds of automatic gunfire, was shown to thousands of people at the rallies and was aired live on Turkish television.

Erdogan used the video to comment on attacks on Islam and rising Islamophobia. He accused the Western world for not calling the attack on the two Christchurch mosques "Christian terror," when acts committed by Muslims are called "Islamic terror."

He also referred to a manifesto by the suspected attacker, Brenton Tarrant, in which he threatened Turks and vowed to make Istanbul "Christian owned once more."

Erdogan then shifted his rhetoric to slamming the main opposition's leader, as is common in all of his campaign rallies. He criticized the Republican People's Party's Kemal Kilicdaroglu for blaming Islam and Muslims for the attack.

The opposition leader had condemned the attack on Friday and also said the Islamic world should look within itself to understand the causes of terrorism.

Faik Oztrak, the vice chairman of the Republic People's Party, or CHP, accused Erdogan of using the video as "propaganda materials for the sake of three or five votes." His comments were carried by the official Anadolu news agency Sunday.

New Zealand Foreign Minister Winston Peters said Monday that he told his Turkish counterpart and Erdogan's vice president, who were visiting the country, that the video doesn't represent New Zealand. He said it could also endanger New Zealanders.

Facebook said it removed 1.5 million videos of the New Zealand shootings during the first 24 hours after the massacre.

Source: Fox News World

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State taking names of teachers who called in sick to protest

Kentucky's education commissioner wants the name of every teacher who used a sick day that forced 10 school districts to close so educators could protest at the state legislature.

At least 10 school districts were forced to close several times since Feb. 28 after so many teachers used their sick days that officials could not find enough substitutes to cover classes.

Jefferson County Public Schools, one of the country's largest districts with more than 98,000 students, has closed six times in two weeks as hundreds of teachers packed the state Capitol to protest several proposals that impacted the pension system and education funding.

On Thursday, Education Commissioner Wayne Lewis sent letters to 10 school districts, asking for the names of every teacher who used a sick day on the days the districts were forced to close. He also wanted copies of all affidavits and doctor's notes.

"The Kentucky Department of Education takes the closing of schools very seriously," Lewis said. "While it is important that administrators, teachers and students make their voices heard about issues related to public education policy, advocacy should under no circumstances be putting a stop to learning for entire communities."

Emilie Blanton, an English teacher at Southern High School in Jefferson County, said she did not use a sick day, but came to the Capitol to protest because the district was closed.

"I think it's an intimidation tactic," she said. "It just goes to show that they are going to try to silence the sick out movement as best as they can."

It's unclear what state education officials could do with the information. A news release from the Kentucky Department of Education notes state law allows the commissioner access to records of all teachers and has authority to report "mismanagement, violation of law, or misconduct to the Kentucky Board of Education."

The Kentucky Education Association, which represents 43,000 educators across the state, said in a news release that superintendents could discipline teachers who used sick days to come to the state Capitol "to exercise their First Amendment rights."

"It is our hope that they won't," the association said in a news release. "Making educators — who are all citizens of this Commonwealth — choose between keeping their livelihood and exercising their constitutional rights is despicable."

Source: Fox News National

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3M to cut 2,000 jobs globally, lowers 2019 profit outlook

The logo of Down Jones Industrial Average stock market index listed company 3M
FILE PHOTO: The logo of Down Jones Industrial Average stock market index listed company 3M is shown in Irvine, California April 13, 2016. REUTERS/Mike Blake/File Photo

April 25, 2019

(Reuters) – U.S. manufacturing conglomerate 3M Co on Thursday said it would lay off 2,000 workers globally as it reported a lower-than-expected quarterly profit and cut its 2019 earnings forecast due to worsening performance in key markets.

The job cuts, part of moves to restructure its businesses into four operating units from five, would result in an estimated annual pre-tax savings range of $225 million to $250 million, with $100 million in the remainder of 2019, the company said in a statement https://www.businesswire.com/news/home/20190425005428/en/3M-Reports-First-Quarter-2019-Results-Company-Initiates.

3M, which makes everything from adhesive tapes to air filters, said it now expects 2019 adjusted earnings between $9.25 and $9.75 a share, versus its prior forecast of $10.45 to $10.90 per share.

The shares of the company fell 7 percent in premarket trading after the announcement.

(Reporting by Rachit Vats in Bengaluru; Editing by Shailesh Kuber)

Source: OANN

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

April 26, 2019

By Ryan Woo

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

NEED FOR CASH

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

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

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

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

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

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

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

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

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

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

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

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

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

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

STATE COMPETITION

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

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

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

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

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

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

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

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

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

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

Source: OANN

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

April 26, 2019

By Patricia Weiss and Ludwig Burger

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

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

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

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

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

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

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

Bayer is appealing or plans to appeal the verdicts.

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

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

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

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

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

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

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

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

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

Source: OANN

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

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

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

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

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

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

Source: Fox News World

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

April 26, 2019

By Charlotte Greenfield

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

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

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

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

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

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

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

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

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

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

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

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

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

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

(Reporting by Charlotte Greenfield; Editing by Himani Sarkar)

Source: OANN

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

April 26, 2019

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

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

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

(Reporting by Muvija M in Bengaluru)

Source: OANN

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