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Semiconductor group urges more research funding to counter China

FILE PHOTO: Intel logo is seen behind LED lights in this illustration
FILE PHOTO: Intel logo is seen behind LED lights in this illustration taken January 5, 2018. REUTERS/Dado Ruvic/Illustration/File Photo

April 3, 2019

By Stephen Nellis

SAN FRANCISCO (Reuters) – A trade group for the semiconductor industry on Wednesday called on U.S. government leaders to boost funding for chip research and science education while easing limits on green cards in an effort to counter China’s investments in chip technology.

The Semiconductor Industry Association, which represents firms such as Intel Corp, Micron Technology Inc and Nvidia Corp, is asking U.S. officials to raise federal funding for chip research from a current $1.5 billion to $5 billion over the next five years and double funding for related fields such as materials science.

The group also wants changes to help it recruit skilled workers. In the short term, that means making it easier for skilled immigrants the industry needs from countries such as China and India to obtain permanent U.S. residency. And in the long term that means boosting education spending to double the number of American science and engineering graduates by 2029.

The two efforts are meant to play off one another, with increased research dollars for U.S. national labs, universities and companies creating more jobs for the new graduates, Sanjay Mehrotra, chief executive of Micron and current chair of the trade group, told Reuters.

“It helps feed the pipeline of … talent that is very much needed to maintain global competitiveness in the industry,” he said.

The U.S. semiconductor group wants funding to counter the rise of China’s chip industry, which is booming as the government there has poured research dollars into advancing the technology along with related fields such as artificial intelligence. China imports hundreds of billions of dollars worth of chips but can currently supply only a fraction of its demand domestically.

Chinese officials are seeking to change that dynamic and last year fast-tracked plans to bolster the country’s chip industry after the United States banned sales of chips to the Chinese phone vendor ZTE Corp, nearly crippling the company before U.S. officials relented.

The U.S. chip industry group is also asking for U.S. trade agreements to include provisions for the fair treatment of U.S. firms in foreign courts during intellectual property disputes.

“It’s no secret that when an American company has an (intellectual property) problem in China, they don’t get any significant relief in Chinese courts,” John Neuffer, chief executive of the trade group, told Reuters.

In November, the U.S. Justice Department indicted two companies based in China and Taiwan alleging they conspired to steal trade secrets from Micron.

(Reporting by Stephen Nellis; Editing by Christopher Cushing)

Source: OANN

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House Judiciary Panel Unanimously OKs Measure on FBI Records of Trump Obstruction Probe

The U.S. House Judiciary Committee on Tuesday unanimously approved a resolution directing the Justice Department to give Congress all records on a FBI obstruction of justice or counterintelligence probes against President Donald Trump.

In a suprising show of bipartisanship days after U.S. Attorney General William Barr informed Congress that he did not find an obstruction case against Trump, the Democratic-led panel voted 22-0 to send the measure to the full House of Representatives for a possible floor vote.

Full House approval would give Barr 14 days to comply with the demand for all records and communications concerning FBI investigations of Trump as well any discussions within the Justice Department about secretly recording the president or seeking to replace him by invoking the 25th amendment to the U.S. Constitution.

Source: NewsMax Politics

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Clinton press secretary says Barr lied about Mueller report, is not an ‘principled man’

President Bill Clinton’s former press secretary has gone on a blistering attack against Attorney General William Barr, accusing him of lying to the American people and of not being an “incredibly principled man.”

Former White House Press Secretary Joe Lockhart went on the offensive during an appearance on CNN’s “New Day” on Monday morning.

After the show played old footage of Barr discussing the issue of executive privilege in relation to then-President Clinton, Lockhart unloaded.

“I don’t know Bill Barr… I don’t know that I believe all of the stories before his confirmation that he was some incredibly principled man,” he said.

BRIAN KILMEADE: TRUMP WAS 'RIGHT' TO APPEAR ANGRY AFTER MUELLER'S APPOINTMENT

“He was the guy for the job. If anyone believed that and they still believe it, they are just naive.”

Lockhart then took aim at how Barr has handled the release of Special Counsel Robert Mueller’s report.

“What he did was an incredible disservice to the country,” he said on CNN.

“The way he withheld the report and then on three separate occasions told the American public this is what the report says. So that everybody read it in that frame of mind. The fact is the report said just the opposite.

MAXINE WATERS CALLS BARR A 'LACKEY AND A SYCOPHANT' FOR TRUMP

“You can call it misleading, spin. I call it lying. When you have the president of the United States, the press secretary, the attorney general all effortlessly lying something’s got to change.”

Lockhart is not the only person to take aim at Barr in recent days, with MSNBC’s Joe Scarborough and Democrat Maxine Waters also calling him into question.

“He does something once again that is going to scuff up his reputation. Absolutely his reputation is shot,” Scarborough said last week of Barr’s handling of the release of the Mueller report, also describing him as a “political hack” and no longer “a respected legal mind.”

“Here’s a guy that served in Washington for 30 years, had the respect of Republicans — he won’t get his reputation back. It’s shot. Sullied, the way he’s handled himself.”

JAMES COMEY TWEETS HE HAS 'SO MANY ANSWERS' AFTER RELEASE OF MUELLER REPORT

“What he did was an incredible disservice to the country,” former White House Press Secretary Joe Lockhart said of AG Barr.

“What he did was an incredible disservice to the country,” former White House Press Secretary Joe Lockhart said of AG Barr.

Meanwhile, Waters trashed the attorney general on the eve of Special Counsel Mueller’s report being released to the public, calling Barr “a lackey and a sycophant” for President Trump.

“I never expected Barr to do anything that would be respectful to the members of Congress or to include us in any real way,” she told MSNBC’s Chris Hayes, joining colleagues fuming over the decision by Barr to hold a press conference before releasing a redacted version of the report.

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“He has proven himself. He auditioned for this job. He was chosen to protect the president of the United States and that’s exactly what he’s doing. I’m not surprised.”

Source: Fox News Politics

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Italian shipping firm fined $4M in US waste oil dumping case

An Italian shipping company admitted in the U.S. to dumping oily waste and other pollutants at sea rather than paying to dispose of them properly, and will pay a $4 million fine.

U.S. authorities in New Jersey say d'Amico Shipping Italia S.p.A. pleaded guilty Wednesday in Newark to violating the Act to Prevent Pollution from Ships.

The charge involved the oil tanker Cielo di Milano that visited ports in New Jersey, Maryland and Florida multiple times in 2014 and 2015.

The Palermo-based company admitted that the ship's crew intentionally discharged bilge water and oily waste from the vessel's engine room into the sea, according to court documents.

It also admitted falsifying and destroying records, and lying to the Coast Guard during inspections.

According to statements made in court, and in court documents, the company admitted the ship's crew intentionally bypassed required pollution prevention equipment by discharging bilge water and oily waste from the vessel's engine room through its sewage system into the sea.

Some of the discharges were made within the 200-mile (321-kilometer) territorial limits of the U.S.

One chief engineer falsified the ship's Oil Record Book to state that bilge water had been processed through the vessel's pollution control equipment when, in fact it had not. And the crew routinely hid equipment used to conduct the discharges when the vessel entered port.

The company also admitted that crew members made false statements to the Coast Guard during its inspection of the Cielo di Milano in January 2015; and destroyed a record book after the Coast Guard had boarded the vessel, according to court documents.

Gregory Linsin, a lawyer for the company, said the matter remains under the supervision of the court, adding, "The company will address the issue following the conclusion of the court proceeding."

During its four-year term of probation, the company will be subject to an environmental compliance program that requires outside audits by an independent company and oversight by a court-appointed monitor.

The plea allocates $1 million to projects, to be chosen by the National Fish and Wildlife Foundation, to clean up marine pollution, preservation of aquatic life, and restore shorelines around Newark Bay.

___

Follow Wayne Parry at http://twitter.com/WayneParryAC

Source: Fox News National

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$38M worth of cocaine seized in Philadelphia port, CBP says

Authorities made a hefty $38 million cocaine seizure on Tuesday, the largest for the Customs and Border Protection (CBP) Area Port of Philadelphia in more than two decades, officials said.

The drug haul was found during an inspection of imported shipping containers at the city’s seaport, CBP said in a news release Thursday. It was a multi-agency effort, led by CBP and Homeland Security Investigations (HSI).

COPS ARREST 16 SUSPECTS IN $35M POT BUST IN ATLANTA

More than a dozen black duffel bags holding “a combined 450 bricks of a white powdery substance” – later confirmed to be cocaine – were located within one of the containers, the agency said. The drugs weighed roughly 1,185 pounds, they added.

“The shipping container commodity was natural rubber, which was laden in Guatemala,” the news release said.

Casey Durst, CBP’s Director of Field Operations in Baltimore, hailed the team who conducted the apprehension.

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“Taking a half-ton of dangerous drugs out of circulation is a significant success for this collective team of federal, state and local law enforcement officers who work very hard every day to keep people safe,” Durst said. “Customs and Border Protection remains committed to working with our law enforcement partners and to disrupting narcotics smuggling attempts at the Area Port of Philadelphia.”

The cocaine confiscation is the largest for the CBP Area Port of Philadelphia since May 1998, the agency said.

Source: Fox News National

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Maersk ‘supertanker’ takes time to turn around: main shareholder

The MV Maersk Mc-Kinney Moller, the world's biggest container ship, arrives at the harbour of Rotterdam
The MV Maersk Mc-Kinney Moller, the world's biggest container ship, arrives at the harbour of Rotterdam August 16, 2013. REUTERS/Michael Kooren

April 2, 2019

COPENHAGEN (Reuters) – A.P. Moller-Maersk is a “supertanker” that takes a long time to turn around, said Ane Maersk Mc-Kinney Uggla, chairwoman of the A.P. Moller Foundation, which owns a controlling stake in the Danish shipping company.

“It’s been a tough year, but there have also been many good things in our transformation,” she told reporters ahead of the shipping company’s annual general meeting in Copenhagen on Tuesday.

(Reporting by Jacob Gronholt-Pedersen, writing by Teis Jensen, editing by Louise Heavens)

Source: OANN

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Bank of America Merrill Lynch names new country executives for Japan, Australia: memo

FILE PHOTO: Company logo of the Bank of America and Merrill Lynch is displayed at its office in Hong Kong
FILE PHOTO: The company logo of the Bank of America and Merrill Lynch is displayed at its office in Hong Kong March 8, 2013. REUTERS/Bobby Yip/File Photo

April 12, 2019

HONG KONG (Reuters) – Bank of America Merrill Lynch appointed Joseph Fayyad and Tamao Sasada as country executives of Australia and Japan, respectively, an internal memo seen by Reuters said.

Sasada will also become president and representative director of Merrill Lynch Japan Securities, according to the memo. She takes over from Jiro Seguchi, who was named co-president of Asia Pacific in January.

Fayyad will retain his existing role as head of Australia investment banking and takes over from Kevin Skelton. Meanwhile, Skelton will take up a newly-created role as chairman of Australia.

Fayyad has over 20 years of investment banking experience in Australia, while Sasada has worked in investment banking since joining the firm in 1998.

The changes are first major moves made by Seguchi and Jin Su since they were named co-heads for the Asia Pacific business.

Reiko Hayashi has also been appointed deputy president of Merrill Lynch Japan Securities and a director of the board, according to the memo. Hayashi will oversee interactions with regulators and government departments and ensure good governance is in place across the franchise.

The memo was sent by Seguchi and Su.

(Reporting by Julia Fioretti; Editing by Uttaresh.V)

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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