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China’s ShFE launches crude oil futures index; plans more products

FILE PHOTO: A company logo of Shanghai Futures Exchange is displayed at a booth during LME Week Asia in Hong Kong
FILE PHOTO: A company logo of Shanghai Futures Exchange is displayed at a booth during LME Week Asia in Hong Kong, China June 14, 2016. REUTERS/Bobby Yip/File Photo

March 26, 2019

BEIJING (Reuters) – China’s Shanghai Futures Exchange (ShFE) will start on Tuesday publishing an index linked to the prices of its crude oil futures contracts, a year after the launch of futures trading, the ShFE said in a release posted on its WeChat channel.

The crude oil futures index will measure the price movements and the rate of return for the most actively traded contract for the ShFE’s crude futures, according to the release.

The ShFE began calculating the index based on futures trading during the night session of March 25 and the index rose during morning trading on Tuesday.

The ShFE also plans to deepen cooperation with Chinese stock exchanges by launching a crude oil exchange-traded fund (ETF) and other new products.

This will help improve the structure of investors and lower systemic risks of investment portfolio, it said.

China launched its yuan-denominated crude oil futures on March 26, 2018, and it has gained substantial volumes from international Brent and U.S. West Texas Intermediate futures.

The total trading volume of the ShFE crude oil futures contracts was 36.7 million lots by March 25, the exchange said in separate release on Tuesday.

(Reporting by Min Zhang in BEIJING and Chen Aizhu in SINGAPORE; editing by Christian Schmollinger)

Source: OANN

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Canadian province considers mandatory annual math tests for all public school teachers: reports

A Canadian province is reportedly considering a measure that would require teachers to pass an annual math test even if math is not the primary subject they teach as part of an initiative to boost student performance in the subject.

Senior government officials in Ontario said primary and second school teachers who instruct all subjects would need to pass the test in order to continue to teach in the province, The Canadian Press reported. The Progressive Conservative government passed a new law Wednesday that will require all aspiring educators to pass the exam in order to receive their teaching license.

EX-CANADA AG AMONG 2 KICKED OUT OF TRUDEAU'S LIBERAL CAUCUS

"I have an idea: Why don't we test all the teachers, rather than just new ones, on learning how to deliver math?" Premier Doug Ford reportedly asked Thursday during a question and answer forum.

The Education Quality and Accountability Office, the agency that administers standardized testing in Ontario, reported in August that math test scores among public elementary students have been declining over the past five years.

The office also claimed efforts by the former Liberal government failed to bolster test scores in the province.

The president of the union for Ontario secondary school teachers, Harvey Bischof, told The Canadian Press that annual mandatory math testing for teachers would be “nonsensical” and potentially put some teachers out of work.

"High school teachers in Ontario are subject specialists. If you're not qualified to teach math, essentially, you don't,” Bischof said in a phone interview, adding “if you are qualified, you don't need a test."

According to the education agency report, 49 percent of sixth graders met the provincial math standard in 2018, down from 54 percent between 2013 and 2014. Sixty-one percent of third graders met the provincial standard from 2017 to 2018, down from 67 percent between 2013 and 2014.

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Forty-five percent of ninth grade students enrolled in applied math courses, which focus on practical uses for math concepts, met Ontario’s standard. Eighty-four percent of ninth graders met the standard in academic math courses, which focus on abstract applications for math concepts.

The former Education Minister Lisa Thompson said the results of the report were "unacceptable." Unnamed government officials told The Canadian Press that the current government will consult with parents before passing a new measure.

"How can we expect our students to do the math when our teachers can't?" a government source asked.

Source: Fox News World

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Facebook will introduce ‘clear history’ tool this year: CFO

FILE PHOTO: The entrance sign to Facebook headquarters is seen in Menlo Park
FILE PHOTO: The entrance sign to Facebook headquarters is seen in Menlo Park, California, on Wednesday, October 10, 2018. REUTERS/Elijah Nouvelage/File Photo

February 26, 2019

SAN FRANCISCO (Reuters) – Facebook Inc will introduce a tool allowing users to clear their browsing history this year, which will affect the company’s ability to target advertisements, Chief Financial Officer David Wehner told an investment conference on Tuesday.

Facebook announced plans for a “Clear History” product last year, but technical challenges have delayed its implementation.

(Reporting by Katie Paul; editing by Grant McCool)

Source: OANN

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Trump, adult children urge dismissal of marketing scam lawsuit

Trump family attends ground breaking of new hotel in Washington
FILE PHOTO: (L-R) Eric Trump, Donald Trump Jr., and Ivanka Trump and Donald Trump attend the ground breaking of the Trump International Hotel at the Old Post Office Building in Washington July 23, 2014. REUTERS/Gary Cameron

February 21, 2019

By Jonathan Stempel

NEW YORK (Reuters) – U.S. President Donald Trump and his adult children on Thursday urged a federal judge to dismiss a racketeering lawsuit accusing them of using the family name to promote sham marketing opportunities to vulnerable, financially struggling investors.

Calling the lawsuit “implausible,” the Trump family said in a filing in federal court in Manhattan that the four plaintiffs failed to prove there was fraud or intent to cause harm, or that any statements by Donald Trump caused losses.

A spokeswoman for the plaintiffs, who went by pseudonyms, had no immediate comment.

They accused the Trump family of having received millions of dollars of secret payments from 2005 to 2015 to endorse American Communications Network, which charged $499 for a chance to sell videophones and other goods, and two other businesses.

The lawsuit said the Trumps deliberately conned victims into believing Donald Trump stood behind the investments and thought they would pay off, when the real goal was to enrich themselves. They said this violated a federal anti-racketeering law known as RICO.

Other defendants included an affiliate of the Trump Organization and Trump’s adult children Donald Jr., Eric and Ivanka.

In Thursday’s filing, the defendants suggested that the case was politically motivated, having been filed against the Republican president one week before November’s congressional elections and funded by a nonprofit whose president backs progressive causes.

They also said Trump’s promotional statements about ACN were merely opinion, or were “puffery” that reasonable investors could not rely on, and that none of the other defendants said anything the investors might have heard.

The plaintiffs originally sued on Oct. 29, 2018, and amended their complaint on Jan. 31.

But according to the defendants, the new complaint “cures none of the original defects, and in fact only highlights the implausibility, of a lawsuit that seeks to convert a celebrity endorsement by Mr. Trump and the licensing business of the Trump family, in toto, into a RICO violation by which Plaintiffs-who paid no money to any Trump business, ever-lost $499 each.”

The plaintiffs have until March 7 to respond.

The case is Doe et al v Trump Corp et al, U.S. District Court, Southern District of New York, No. 18-09936.

(Reporting by Jonathan Stempel in New York; editing by Grant McCool)

Source: OANN

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Chelsea Manning moved out of solitary confinement after 4 weeks, reps say; was jailed for refusing to testify

Chelsea Manning has been transferred to general jail population after a judge found her in contempt of court last month for refusing to go before a grand jury probing WikiLeaks, her representatives said Thursday.

The update on Manning came via her Twitter account, which appears to have been actively managed during her time behind bars.

CHELSEA MANNING IN CUSTODY AFTER REFUSING TO TESTIFY BEFORE FEDERAL GRAND JURY IN WIKILEAKS PROBE

“After 28 days in so-called ‘administrative segregation’ (solitary confinement), Chelsea has finally been moved into general population at Truesdale Detention Center,” her account tweeted.

Her team went on to extend Manning’s appreciation for those who supported her and urged her followers to donate money so her legal team can keep working on her case.

CHELSEA MANNING SEEKS IMMEDIATE RELEASE FROM VIRGINIA JAIL

“Chelsea is extremely grateful for everyone's support. While this is a big win, there's still a road ahead to get her out of jail,” they tweeted. “Please donate to Chelsea's legal fund so her lawyers can continue to work on her appeal and bring her home.”

Manning, a former U.S. Army analyst, was taken into custody in March after she said in a hearing that she did not intend to testify before a federal grand jury. The judge ordered Manning to remain in jail until she testifies or until the grand jury concludes its work.

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Earlier this week, Manning’s legal team filed a motion with a federal appeals court in Virginia, fighting for her to be released on bail while the judge’s jail order is appealed.

Manning previously served seven years in prison for leaking military and diplomatic documents to WikiLeaks before then-President Obama commuted her sentence.

Fox News’ Ryan Gaydos and The Associated Press contributed to this report.

Source: Fox News National

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Former top Chinese general sentenced to life for corruption

A former top Chinese general has been given a life sentence for taking and distributing bribes and possessing a large amount of property whose origins he could not account for.

Fang Fenghui, former chief of the People's Liberation Army's joint staff department, is the latest military figure to fall in President Xi Jinping's crackdown on graft and waste at all levels of the government and military.

Fang was expelled from the Communist Party and stripped of his rank in October ahead of his court-martial, more than a year after dropping out of view.

A brief report Wednesday by the official Xinhua News Agency gave no details of the accusations against him.

Some top Chinese generals are reported to have accumulated vast fortunes, including golden statues of Mao Zedong.

Source: Fox News World

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Florida cops surprise man with new bike after his ‘only mode of transportation’ was stolen

A Florida resident had his only mode of transportation stolen — so two police officers got him a new one.

Cape Coral field training officer Ken Cody and officer trainee Guang Song received praise after they bought a “brand spankin’ new” bike for a man identified only as Robert, who had reported his bike stolen from a Winn-Dixie supermarket in south Cape Coral.

The officers didn’t want Robert, said to be in his 80s, to lose his only mode of transportation, so they went to a local Walmart and bought him a replacement.

The officer’s body camera video shows the men delivering the new bike to Robert at his home.

“Is this a new one, here?” Robert asks the officers before testing out the bike.

GOOD SAMARITANS RESCUE WOMAN FROM BURNING CAR IN LOUISIANA

The officers are seen helping Robert adjust the seat, showing him the bike's features and giving him a new lock with a key to ensure his new ride isn't stolen.

“I’m still going to try and figure out who stole your other bike,” the officer tells Robert, who responds, “I understand these things take time.”

“Take it for a ride, Robert!” the officers say.

As the officers were leaving, a man who saw the exchange then tells them: “You guys are the greatest in the world. I’m almost crying. God bless you.”

CLICK HERE FOR THE FOX NEWS APP

The Cape Coral Police Department posted the video on its Facebook page on Monday and the post received more than 13,000 views as of Wednesday. Police said they were still searching for the bike thief.

Source: Fox News National

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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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