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Uber to announce deal to buy rival Careem as early as this week: Bloomberg

A cell phone with the Uber transport technology app, with the destination and its cost to the international airport, is seen inside a car with an Uber driver, in Santiago
A cell phone with the Uber transport technology app, with the destination and its cost to the international airport, is seen inside a car with an Uber driver, in Santiago, Chile, March 15, 2019. REUTERS/Rodrigo Garrido

March 24, 2019

(Reuters) – Uber Technologies Inc will announce plans to acquire Dubai-based rival Careem Networks FZ as early as this week, Bloomberg reported on Sunday, citing people familiar with the matter.

Uber will pay $1.4 billion in cash and $1.7 billion in convertible notes, which will be convertible into Uber shares at a price equal to $55 per share, according to a term-sheet that Bloomberg said it had seen.

Careem declined comment while Uber did not immediately respond to a request from Reuters comment.

Uber has been preparing for an initial public offering, and its bankers have indicated that it could be valued at as much as $120 billion.

(Reporting by Mekhla Raina in Bengaluru; Editing by Leslie Adler)

Source: OANN

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Kudlow: White House Talking to Other Possible Fed Candidates

The White House is considering other possible candidates for the board of the Federal Reserve although President Donald Trump still backs his two potential nominees, Herman Cain and Stephen Moore, White House economic adviser Larry Kudlow said on Tuesday.

Kudlow, speaking to reporters at the White House, added that Trump's picks are still going through the nominating process for the seats on the U.S. central bank's board of governors.

"We are talking to a number of candidates. We always do," he said when asked if the White House was vetting alternates for Cain and Moore, whose controversial potential nominations have raised concerns among economists as well as some of Trump's fellow Republicans.

The U.S. Senate must confirm any nominees, and Republicans control the chamber with 53 seats. But four of them have said they oppose Cain, a former pizza company chief executive, effectively sinking his nomination.

Neither candidate's name has been formally sent to the Senate, but Trump has pledged to do so.

Economists and other critics have raised concerns about two Trump loyalists serving at what has traditionally been a nonpartisan financial entity.

Source: NewsMax Politics

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V.P. Mike Pence Calls for Europe to Leave Iran Nuclear Deal, Support Guaido

V.P. Mike Pence Calls for Europe to Leave Iran Nuclear Deal, Support Guaido

OAN Newsroom
UPDATED 8:24 AM PT — Sat. Feb. 16, 2019

Vice President Mike Pence urges the European Union to withdraw from the Iran Nuclear Deal.

On Saturday, Pence delivered a speech to world leaders at the Munich Security Conference, calling for European countries to join the U.S. in pressuring the Iranian regime to give the people the peace and freedom they deserve.

United States Vice President Mike Pence delivers his speech during the Munich Security Conference in Munich, Germany, Saturday, Feb. 16, 2019. (AP Photo/Kerstin Joensson)

He also warned of the threat posed by telecoms equipment supplied by Chinese provider Huawei.

Pence also addressed a terrorism issue and said the U.S. will continue fighting the Islamic State.

Additionally, Pence asked the leaders in the room to support Venezuela in its struggle for democracy and recognize Juan Guaido as the only legitimate President of Venezuela.

Source: OANN Top News

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Pence to deliver speech on Venezuela in Colombia on Monday

Vice President Mike Pence is traveling to Colombia next week to demonstrate continued U.S. support for the opposition to Venezuelan President Nicolas Maduro.

Pence's office says he'll deliver a speech Monday in Bogota on the humanitarian and security crisis in neighboring Venezuela, and U.S. efforts to help get aid to the country. Pence will meet with Colombian President Ivan Duque as well as Venezuelan families who have sought refuge outside the country.

President Donald Trump and Duque discussed the situation in Venezuela during a White House meeting last week.

The United States and dozens of other countries recognize opposition leader Juan Guaido as Venezuela's interim president. Maduro told the AP in an interview last week that he will not give up power as a way to defuse the standoff.

Source: Fox News Politics

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Is Harvard Taking the Bench in the “Varsity Blues” Scandal?

Which seems more likely, that there was nothing at Harvard for the “Varsity Blues” investigators to find OR that the Harvard alums who are known to dominate the U.S. attorney’s office in Boston chose not to look there?

After all, the same list of schools has been repeated ad nauseam on the airwaves ever since news of the scandal broke: USC, UCLA, Yale, Wake Forest, Stanford, Georgetown University of San Diego, and the University of Texas at Austin. However, Harvard, which is arguably the most competitive and hardest university in the nation to get into, has been conspicuously absent without so much as an obviously-forged note bearing a lame excuse as to why.

When pondering this odd phenomenon, it might be worth remembering that in 2017-2018 a pair of stories surfaced about potential favoritism sparing Harvard from the DOJ’s wrath.

First, over at WND this reporter picked up on an ongoing drama where an anesthesiologist named Dr. Lisa Wollman at Harvard’s largest teaching hospital, Massachusetts General, blew the whistle on alleged “double booking” by orthopedic surgeons, who are said to have scheduled multiple surgeries at overlapping times and to have left trainees to close surgical incisions, unbeknownst to patients, while billing the federal Medicare and Medicaid programs full price for both operations. The scandal reportedly affected former Red Sox pitcher Bobby Jenks, who had surgery at Mass. General prior to ending his major-league career. The Boston U.S. attorney’s office had about 2 years to join Wollman’s suit on behalf of federal taxpayers, but multiple heads of that office, each with strong ties to Harvard, declined to do so.

Later, a newly-hired member of the Trump DOJ apparently uncovered that federal prosecutors had been leery of pressing a civil rights suit against Harvard regarding alleged discrimination against Asian applicants. That case was brought by private plaintiffs, Students For Fair Admissions, Inc., and a ruling by U.S. District Judge Allison D. Burroughs, rather than a jury, is expected within the next few months. There is no clear consensus on who is expected to prevail, but both sides are expected to appeal.

And then there’s Justina Pelletier. She and her family have sued Harvard’s primary pediatric research and teaching facility, Boston Children’s Hospital, for medical malpractice and civil rights violations (which many people consider to have been torture). On top of the Pelletier family’s claims under the U.S. Constitution, an unspecified but large amount of federal Medicaid money was reportedly involved, yet once again, the DOJ has declined to take a Harvard entity to federal court.

Thus, though it’s entirely possible that Harvard was uninvolved in this latest scandal, this apparent pattern of behavior in the DOJ nonetheless raises critical questions regarding the “Varsity Blues” investigation and why Harvard – whose school color is crimson red by the way – hasn’t been named.

Like, did “Varsity Blues” investigators look into America’s “most elite” university? And, as the other schools which have thus far been named reel from the fallout, was reputation-obsessed Harvard given special treatment and spared from the headlines? Further, are cheaters safe from law enforcement so long as they cheat their family’s way into Harvard?

These are good questions for Andrew Lelling, who is the current top federal prosecutor in Boston. Now, Lelling went to Binghamton University and the University of Pennsylvania. However, the rest of his office is still dominated by Harvard grads and Lelling has only held the top post for about 15 months. So, it’s likely that the “Varsity Blues” investigation actually began and took shape under his predecessors.

For instance, in the year or so before Lelling took over, then-acting-U.S.-Attorney William Weinreb was in charge of federal prosecutors in the Bay State, which on top of Harvard has more colleges and university students per capita (7.32%) than any other large metropolitan city (one million+ people) in the country except Los Angeles, which leads with an additional 0.02%. And it would be hard to find more of a “Harvard man” than Weinreb, who graduated from Harvard Law School.

In fact, Weinreb was the editor and treasurer of the Harvard Law Review, as well as college chums with soon-to-be-former-Deputy-AG Rod Rosenstein during their glory days in Cambridge, MA. Then Weinreb cut a $1,000 check and maxed out his personal donation limit to the political campaigns of his fellow Harvard folks, Elizabeth Warren and Barack Obama, respectively, before his predecessor, Carmen Ortiz, officially handed him the reigns in January 2017.

During her time in power, former U.S. Attorney Carmen Ortiz was a lightning rod of controversy and criticism, but not for going after Harvard. She had been recommended for the top law enforcement job in Boston by Ted Kennedy – of the Harvard Kennedy School Kennedys.

Ortiz also mentored under longtime Harvard Law professor Philip Heymann, whose son, former Harvard lecturer Stephen Heymann, occupied the sought-after likely-stepping-stone post of cybercrime division chief under her.

Perhaps it’s no surprise then, that after Ortiz left office, Harvard was one of the first places where she reportedly explored career opportunities. However, in what may have been a well-deserved cosmic irony, the Ivy League university didn’t hire her. It appears that despite her significant efforts, Ortiz had still ruffled too many sensitive feathers on campus and like so many before her, she apparently had to settle for her safety school, Boston College, before taking a job at a small local law firm.

The FreeMartyG team inquired with a top Justice Department official in Washington DC, asking whether the DOJ’s leadership had any concerns that Harvard might have experienced preferential treatment during the “Varsity Blues” investigation, not all that unlike some of the students who now find their admission to other top universities in question. U.S. Department of Justice Spokesperson Kelly Laco declined to comment.

Anyone with further information is encouraged to contact the FreeMartyG team on Facebook or Twitter.

The author, Marty Gottesfeld, is an Obama-era political prisoner. To learn more about his case or donate to support him, please go to FreeMartyG.com.

Source: InfoWars

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In letter to AOC, Big Labor says Green New Deal would cause 'immediate harm' to union workers

Big Labor is not buying the Democrats' Green New Deal, saying the proposed economic and energy reforms would cause “immediate harm” to millions of union employees and threaten their livelihoods.

The AFL-CIO, which represents 12.5 million union workers, outlined its opposition to the proposal in a recent letter to its leading sponsors: U.S. Sen. Ed Markey, D-Mass., and U.S. Rep. Alexandria Ocasio-Cortez, D-N.Y.

“We welcome the call for labor rights and dialogue with labor, but the Green New Deal resolution is far too short on specific solutions that speak to the jobs of our members and the critical sections of our economy,”  the AFL-CIO Energy Committee told the congresswoman and the senator in a letter dated March 8.

GREENPEACE CO-FOUNDER TEARS INTO OCASIO-CORTEZ, GREEN NEW DEAL: ‘POMPOUS LITTLE TWIT

“We will not accept proposals that could cause immediate harm to millions of our members and their families. We will not stand by and allow threats to our members’ jobs and their families’ standard of living go unanswered,” they wrote. “We are ready to discuss these issues in a responsible way, for we all recognize that doing nothing is not an option.”

"The Green New Deal resolution is far too short on specific solutions ... We will not stand by and allow threats to our members’ jobs and their families’ standard of living go unanswered."

— AFL-CIO Energy Committee

The Green New Deal has earned the support of a number of Democratic 2020 presidential candidates. Its backers say the ambitious concept is designed to tackle income inequality and climate change by eliminating much of the fossil fuel consumption in the United States and would most likely require tax increases.

Ocasio-Cortez has described the deal as a “life and death” issue. She has not addressed the AFL-CIO letter.

AFL-CIO President Richard Trumka said last week that unions were not consulted before the plan was released in February.

“Look, we need to address the environment. We need to do it quickly,” he said, the Washington Post reported. “But we need to do it in a way that doesn’t put these communities behind and leave segments of the economy behind. So we’ll be working to make sure that we do two things: that by fixing one thing we don’t create a problem somewhere else.”

Sen. John Barrasso, R- Wyo., tweeted a copy of the letter Monday, saying “I agree with the AFL-CIO.”

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Markey slammed the Republican Party’s record on climate change in response.

“We will continue to work and partner w @AFLCIO, who is right to say that “doing nothing is not an option,” he tweeted. "But until Republicans say that climate change is real, caused by humans, and demands action now, the only people they are in agreement with are Big Oil and the Koch brothers.”

The GOP is expected to bring the Green New Deal up for a vote this month, according to the Hill.

Source: Fox News Politics

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Source: InfoWars

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Cambodian authorities have ordered a one-hour reduction in the length of school days because of concerns that students and teachers may fall ill from a prolonged heat wave.

Education Minister Hang Chuon Naron said in an announcement seen Friday that the shortened hours will remain in effect until the rainy season starts, which usually occurs in May. The current heat wave, in which temperatures are regularly reaching as high as 41 Celsius (106 Fahrenheit), is one of the longest in memory.

Most schools in Cambodia lack air conditioning, prompting concern that temperatures inside classrooms could rise to unhealthy levels.

School authorities were instructed to watch for symptoms of heat stroke and urge pupils to drink more water.

The new hours cut 30 minutes off the beginning of the school day and 30 minutes off the end.

School authorities instituted a similar measure in 2016.

Source: Fox News World

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Explosions have rocked Britain’s largest steel plant, injuring two people and shaking nearby homes.

South Wales Police say the incident at the Tata Steel plant in Port Talbot was reported at about 3:35 a.m. Friday (22:35 EDT Thursday). The explosions touched off small fires, which are under control. Two workers suffered minor injuries and all staff members have been accounted for.

Police say early indications are that the explosions were caused by a train used to carry molten metal into the plant. Tata Steel says its personnel are working with emergency services at the scene.

Local lawmaker Stephen Kinnock says the incident raises concerns about safety.

He tweeted: “It could have been a lot worse … @TataSteelEurope must conduct a full review, to improve safety.”

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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At least one person is reported dead and homes have been destroyed by a powerful cyclone that struck northern Mozambique and continues to dump rain on the region, with the United Nations warning of “massive flooding.”

Cyclone Kenneth arrived just six weeks after Cyclone Idai tore into central Mozambique, killing more than 600 people and displacing scores of thousands. The U.N. says this is the first time in known history that the southern African nation has been hit by two cyclones in one season.

Forecasters say the new cyclone made landfall Thursday night in a part of Mozambique that has not seen such a storm in at least 60 years.

Mozambique’s local emergency operations center says a woman in the city of Pemba was killed by a falling tree.

Source: Fox News World

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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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