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Greece won’t get euro zone money on Monday, but probably in April: EU’s Moscovici

EU Commissioner Moscovici presents the EU executive's economic forecasts in Brussels
FILE PHOTO: European Commissioner for Economic and Financial Affairs Pierre Moscovici presents the EU executive's economic forecasts during a news conference at the EU Commission headquarters in Brussels, Belgium February 7, 2019. REUTERS/Francois Lenoir

March 11, 2019

BRUSSELS (Reuters) – Euro zone finance ministers will withhold a disbursement of 750 million euros to Greece on Monday because the country has not yet completed all the agreed reforms, but Athens could get the money released in April, the EU’s Economic Commissioner said.

European Commissioner for Economic and Financial Affairs Pierre Moscovici told reporters on entering a meeting of finance ministers of the 19 countries sharing the euro only three out of the 16 agreed reforms were still missing.

“It’s not finished, I think that it’s too early to decide formally the disbursement today,” Moscovici said.

“There are still some issues that need to be concluded but I am very confident that with goodwill and with work in the coming days, we will be capable of concluding that all issues are solved, so that we can decide the disbursement … at the latest at the next Eurogroup in April,” he said.

Greece struck a debt relief deal with euro zone creditors last June to continue various reforms even after its third bailout program ended in August. The Commission has the task of monitoring the reform progress.

In return, Athens is to get 750 million euros every six months. The money is part of about 4.8 billion euros of profits from Greek bonds held by the euro zone that is to be handed back to Athens by mid-2022 and from a waiver of the step-up interest rate margin on part of the euro zone loans.

(Reporting By Jan Strupczewski)

Source: OANN

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Co-owner of Russia’s S7 airline dies in plane crash near Frankfurt

Chairwoman of directors' board of Russia's airline S7 Natalia Fileva attends a meeting on the development of road and transport sector in Novosibirsk
Chairwoman of directors' board of Russia's airline S7 Natalia Fileva attends a meeting on the development of road and transport sector in Novosibirsk, Russia July 3, 2018. Picture taken July 3, 2018. REUTERS/Kommersant Photo/Valery Titievsky

April 1, 2019

MOSCOW (Reuters) – Natalia Fileva, chairwoman and co-owner of Russia’s second largest airline S7, died when a private jet she was in crashed near Frankfurt on Sunday, the company said.

Fileva, 55, was the major shareholder in S7, a member of global Oneworld airlines alliance, and one of the richest women in Russia, whose wealth was estimated by Forbes at $600 million.

The Epic-Lt, a single-engined jet designed for private flights, crashed while landing at Egelsbach airport, S7, also known as Siberia Airlines, said in a statement.

A police spokesman in the central German state of Hesse said a six-seater aircraft with two passengers and a pilot on board was en route from France when it came down near Egelsbach and caught fire.

The private jet was flying from Cannes in France and disappeared from radars at 1322 GMT, according to data from a flight tracker Flighradar24.

There was no immediate information on the other two people in the plane.

Russian and international authorities would investigate the crash and there was no information yet on what caused it, according to the airline, which is the main competitor of Russia’s No.1 carrier Aeroflot.

“The S7 Group holding team expresses deepest condolences to the family and significant others,” the company said.

S7 fleet consists of 96 aircraft that fly to 181 cities and towns in 26 countries, according to the company’s website.

(Reporting by Gleb Stolyarov in Moscow; Additional reporting by Thomas Escritt in Berlin; Writing by Andrey Ostroukh; Editing by Daniel Wallis)

Source: OANN

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Is Mueller Ready to Turn in Report and Flip on Democrats?

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Farage’s Brexit Party Set for Landslide Support

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Brazil military austerity disappoints as extra pay eats up pension savings

Brazil's Economy Minister Paulo Guedes speaks with journalists after meeting with Brazil's President Jair Bolsonaro at the National Congress, in Brasilia
Brazil's Economy Minister Paulo Guedes speaks with journalists after meeting with Brazil's President Jair Bolsonaro at the National Congress, in Brasilia, Brazil March 20, 2019. REUTERS/Adriano Machado

March 20, 2019

BRASILIA (Reuters) – Brazil’s military would average just 1 billion reais ($265 million) in net savings per year over the next decade under an austerity proposal from the Economy Ministry unveiled on Wednesday, with higher pay consuming most pension savings.

The bill is the final piece of a social security overhaul proposed by President Jair Bolsonaro, a former army captain, aimed at saving over 1 trillion reais in a decade.

Lawmakers have said they could not debate his pension bill, first presented a month ago, without details of his plans for the armed forces — and even Bolsonaro’s allies quickly questioned whether the military personnel were giving up enough.

The Economy Ministry’s proposal pointed to net savings of 10.4 billion reais over 10 years. That would result from 97.3 billion reais in savings on military pensions, partially offset by 86.9 billion reais in extra public spending on military pay.

Brazil’s currency, the real, reduced gains sharply as details of the proposal were made public. The benchmark Bovespa stock index extended losses to 1.6 percent – its biggest loss in two weeks.

“The bulk of this bearishness is the military proposal. Not the savings number per se, but the fact that the final proposal also included compensation, which is to say more spending,” said one fund manager in Sao Paulo. “It sends a bad signal for other government workers that will also want similar pay raises.”

Lawmaker Waldir Soares de Oliveira, leader of Bolsonaro’s party in the lower house of Congress, told journalists he thought it was not the moment to discuss higher military pay.

Government officials and military leaders defending the bill at a news conference said the salary hikes were making up for years of below-average adjustments to military compensation.

(Reporting by Marcela Ayres and Ricardo Brito; Additional reporting and writing by Jamie McGeever; Editing by Brad Haynes and Leslie Adler)

Source: OANN

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Israeli spacecraft crashes in attempt to reach moon

An Israeli spacecraft lost contact with Earth and crashed just moments before it was to land on the moon late Thursday, failing in an ambitious attempt to make history as the first privately funded lunar mission.

The spacecraft lost communication with ground control as it was making its final descent to the moon. Moments later, the mission was declared a failure.

"We definitely crashed on surface of moon," said Opher Doron, general manager of the space division of Israel Aerospace Industries. He said the spacecraft was in pieces scattered at the planned landing site.

Doron said that the spacecraft's engine turned off shortly before landing. By the time power was restored, he said the craft was moving too fast to land safely. Scientists were still trying to figure out the cause of the failure.

"One of the inertial measurement units failed. And that caused an unfortunate chain of events we're not sure about," he said. "The engine was turned off. The engine was stopped and the spacecraft crashed. That's all we know."

The mishap occurred in front of a packed audience that included Prime Minister Benjamin Netanyahu and was broadcast live on national television.

The small robotic spacecraft, built by the non-profit SpaceIL and state-owned Israel Aerospace Industries, had hoped to match a feat that has only been achieved by the national space agencies of three countries: U.S., Russia and China.

"If at first you don't succeed, try try again," Netanyahu said. He vowed to put an Israeli spacecraft on the moon "intact" in the next two years.

Scientists, who were giddy with excitement only second earlier, were visibly distraught, and celebrations at viewing centers across the country were dashed.

President Reuven Rivlin hosted dozens of youngsters at his official residence. The children, some wearing white spacesuits, appeared confused as the crash unfolded.

"We are full of admiration for the wonderful people who brought the spacecraft to the moon," Rivlin said. "True, not as we had hoped, but we will succeed in the end."

The failure was a disappointing ending to a 6.5 million kilometer (4 million mile) lunar voyage, almost unprecedented in length, that was designed to conserve fuel and reduce price.

The spacecraft hitched a ride on the SpaceX Falcon rocket, launched from Florida in February.

For the past two months, Beresheet traveled around the Earth several times before entering lunar orbit in hopes of joining the exclusive club of countries that have made it to the moon.

The U.S. space agency NASA broadcast the landing attempt live on its dedicated TV channels, as well as online.

While NASA regrets the end of the SpaceIL mission without a successful lunar landing of the Beresheet lander, we congratulate SpaceIL, the Israel Aerospace Industries and the state of Israel on the incredible accomplishment of sending the first privately funded mission into lunar orbit," said NASA Administrator Jim Bridenstine.

"Every attempt to reach new milestones holds opportunities for us to learn, adjust and progress," he added. "I have no doubt that Israel and SpaceIL will continue to explore and I look forward to celebrating their future achievements."

Source: Fox News World

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Sri Lanka on edge after local militant group blamed for Easter Sunday attacks: report

Sri Lanka took drastic steps Monday to crack down on new potential terror threats by blocking social media and arresting more than dozen after a series of suicide bombings allegedly carried out by a domestic militant group ripped through its capital on Easter Sunday.

The country’s health minister said the attacks, which killed at least 290 and injured more than 500, were carried out by seven suicide bombers from a local militant group named "National Throwfeek Jamaath." Police said 13 suspects in connection with the bombings have been arrested.

US STATE DEPARTMENT WARNS 

All of the bombers were Sri Lankan citizens, but authorities suspect foreign links, Health Minister Rajitha Senaratne said at a news conference.

EASTER MASSACRE AT CHURCHES, HOTELS IN SRI LANKA KILLED TV CHEF, MOTHER AND SON, AMERICANS

Officials on Monday that Sri Lankan police investigating the bombings are examining reports that intelligence agencies had warnings of possible attacks.

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Meanwhile, Prime Minister Ranil Wickremesinghe has vowed to "vest all necessary powers with the defense forces" to take action against those responsible.

The Associated Press contributed to this report.

Source: Fox News World

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

April 26, 2019

By Ryan Woo

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

NEED FOR CASH

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

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

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

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

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

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

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

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

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

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

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

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

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

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

STATE COMPETITION

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

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

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

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

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

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

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

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

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

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

Source: OANN

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

April 26, 2019

By Patricia Weiss and Ludwig Burger

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

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

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

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

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

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

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

Bayer is appealing or plans to appeal the verdicts.

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

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

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

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

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

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

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

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

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

Source: OANN

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

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

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

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

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

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

Source: Fox News World

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

April 26, 2019

By Charlotte Greenfield

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

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

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

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

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

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

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

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

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

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

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

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

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

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

(Reporting by Charlotte Greenfield; Editing by Himani Sarkar)

Source: OANN

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

April 26, 2019

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

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

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

(Reporting by Muvija M in Bengaluru)

Source: OANN

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