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Samsung Electronics sees tough 2019 for component business: CEO

The logo of Samsung Electronics is seen at its office building in Seoul
The logo of Samsung Electronics is seen at its office building in Seoul, South Korea January 7, 2019. REUTERS/Kim Hong-Ji

March 20, 2019

SEOUL (Reuters) – Samsung Electronics Co Ltd expects a tough year for its component business including memory chips due to sluggish growth in the smartphone market and reduced investment from data center companies, Chief Executive Kim Ki-nam said on Wednesday.

He was speaking at the South Korean tech giant’s annual general meeting where shareholders are expected to vote on the appointment of board directors.

Samsung is seeking new growth in areas such as network equipment manufacturing as sales of its mainstay chips and smartphones begin to drop.

The company would continue to make bold investments in semiconductor manufacturing in the face of stiffening Chinese competition, Kim said.

(Reporting by Ju-min Park; additional reporting by Hyunjoo Jin and Heekyong Yang; Editing by Stephen Coates)

Source: OANN

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Tiger Woods’ victory in Masters a win for golf business

Final round play of the Masters at Augusta National
Golf - Masters - Augusta National Golf Club - Augusta, Georgia, U.S. - April 14, 2019 - Tiger Woods of the U.S. tees off on the 18th hole during final round play. REUTERS/Mike Segar

April 15, 2019

By Helen Coster and Hilary Russ

(Reuters) – Tiger Woods’ victory at the Masters golf tournament on Sunday, his first major victory since 2008, is expected to lift sales for sponsors, broadcasters and golf courses lucky enough to host a tournament with Woods playing.

The competition put the 43-year-old back on top of a sport he helped transform 25 years ago.

“Tiger sells golf,” says Eric Smallwood, president of Apex Marketing Group, Inc., a Michigan analytics firm. Apex found that Nike earned $22.5 million worth of brand exposure just from Woods’ final round, with Nike’s “Swoosh” logo splashed on his hat, shirt, pants and shoes. Nike stock was up about one percent on Monday.

Tournament broadcaster CBS Corp saw a ratings bump. Based on preliminary data, the final round of Sunday’s tournament was the highest-rated morning golf broadcast since 1986, when CBS started collecting that data. The tournament, which is usually broadcast in the afternoon, was rescheduled to the morning because of weather.

CBS has the rights to the PGA Championship in May and expects prices for advertising time that is still available to rise as a result of Woods’ Masters victory, according to a source familiar with the matter.

The golf demographic is wealthier and better-educated than other sports fans, so TV ratings are valued more highly because they’re more apt to turn into sales, even of big-ticket items, said Neal Pilson, president of Pilson Communications and former president of CBS Sports.

“Historically, events where Tiger Woods is on leaderboards on Sunday generated 30 to 40 percent higher ratings in the United States for those tournaments,” Pilson said.

MAKINGS OF A COMEBACK

Woods was a 20-year-old prodigy when he turned pro in 1996. Less than a year later he was ranked No. 1 in the world. He struck lucrative endorsement deals – including a five-year, $40 million deal with Nike – and golf experienced a surge in popularity.

Then Woods’ personal life collapsed and with it, his brand. In 2009, after the news of multiple infidelities, he lost endorsement deals with companies like AT&T Inc and Accenture Plc. Other sponsors, such as Procter & Gamble Co’s Gillette and Berkshire Hathaway Inc’s NetJets, kept their contracts with Woods but stopped using him in marketing.

Four back surgeries later, Woods continued to suffer professionally and in the public eye. In 2017 police arrested him for driving under the influence; he pleaded guilty to reckless driving and entered a program for first-time offenders.

In 2018 Woods began a professional comeback that culminated at Sunday’s Masters. After his victory, Nike, which stood behind Woods throughout his darker years, posted an ad on its website titled “Tiger Woods: Same Dream.”

“In sports you have heroes, villains and underdogs,” said Benjamin Hordell, founder of digital marketing and advertising firm DXagency. “Tiger has lived all of it. That’s amazing from a storytelling perspective. People will root against him, but they’re watching.”

On Monday U.S. President Donald Trump said he would award Woods the Presidential Medal of Freedom.

(Reporting by Helen Coster and Hilary Russ. Additional reporting by Sheila Dang. Editing by Kenneth Li and Cynthia Osterman)

Source: OANN

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Hogan Gidley: Dems Should Celebrate Mueller Report

White House deputy press secretary Hogan Gidley on Monday criticized Democrats for being "upset" special counsel Robert Mueller did not return evidence President Donald Trump colluded with Russia to undermine the 2016 presidential election.

"They should be celebrating the fact that the president was being truthful," Gidley told Fox News' "Fox & Friends." "He was being honest and knew that there was nothing there. No evidence, to corroboration, no collusion. Instead, they are upset about it."

He singled out Rep. Adam Schiff, D-Calif., complaining the lawmaker has said he agrees he does not think impeachment is the right choice for now, but he had been telling the United States he had "stone cold evidence" against the president.

"No one is asking Adam Schiff, 'hey, do you retract this? Do you have the evidence?'" Gidley said. "Everyone still takes him seriously. I don't even know how that's possible."

Meanwhile, the mood in the White House is "very good," Gidley said, but there remains "some righteous indignation and anger why did this all start in the first place? It completely wasted the American's people's time and money."

He also rejected Democrats' argument Trump is putting the Republican Party before the country.

"The president loves this country," Gidley said. "He didn't have to run for president. He was a successful businessman. He has seen how this country has been hurt last eight years economically and ISIS taking over so much of the world. He has come in and changed all of that systematically in two years."

Source: NewsMax America

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Turkey: 3 women, 1 infant die as migrant boat sinks

Turkish authorities say three women and an infant have died after a fiberglass boat carrying migrants to Greece sank off the Turkish coast.

The coast guard said 11 other migrants were saved in an air and sea search mission launched early Tuesday off the town of Ayvacik, in northwest Canakkale province.

The privately owned DHA news agency said the boat, carrying 15 migrants from Iran and Afghanistan, was heading to the Greek island of Lesbos. The three women and the infant who died were from Afghanistan, the report said.

Migrants have been trying to get from Turkey into Greece, which is in the European Union, before heading to more prosperous European nations.

A 2016 deal between Turkey and the EU significantly curbed numbers but migrants still attempt the perilous journey.

Source: Fox News World

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Missing hiker’s body found at Zion National Park, reports say

Zion National Park Rangers on Thursday morning discovered the body of a 35-year-old hiker who had gone missing earlier this week, reports said.

Pradeep Beryl Solomon, of northern Utah, was reported missing Wednesday after he failed to return from a planned hike at Angels Landing a day earlier, FOX13 Salt Lake City reported.

HIKER WHO GOT STUCK IN QUICKSAND AT ZION NATIONAL PARK FOR 10 HOURS SAYS HE THOUGHT HE WAS GOING TO LOSE LEG

Investigators on Thursday evening confirmed the body was Solomon's, the station reported, citing a news release from the park. His injuries were consistent with a long fall.

While the park hadn’t received any recent reports of a man falling, rainfall earlier in the week likely made the trail slick, the Salt Lake Tribune reported, citing the release. The trail can ascend some 1,500 feet above the southern Utah park's red-rock cliffs.

Last year, a 13-year-old girl fell to her death while hiking with her family on the Angels Landing trail. There have been eight fatalities from falling on Angels Landing since the park opened in 1919, according to Zion’s website.

CLICK HERE FOR THE FOX NEWS APP 

“Our deepest condolences go out to the Solomon family and friends,” park superintendent Jeff Bradybaugh said in a statement. “We are all deeply saddened by this outcome.”

Source: Fox News National

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Asian shares firm after solid U.S. data, tech sector hopes

FILE PHOTO: A man looks at an electronic stock quotation board outside a brokerage in Tokyo
FILE PHOTO: A man looks at an electronic stock quotation board outside a brokerage in Tokyo, Japan, October 1, 2018. REUTERS/Toru Hanai

March 22, 2019

By Hideyuki Sano

TOKYO (Reuters) – Asian shares advanced on Friday after upbeat data and optimism in the tech sector lifted Wall Street stocks, helping calm some of the jitters sparked by the Federal Reserve’s cautious outlook on the world’s biggest economy.

MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.25 percent while Japan’s Nikkei gained 0.3 percent.

On Wall Street, the S&P 500 gained 1.09 percent while the Nasdaq Composite rallied 1.42 percent, with the Philadelphia SE Semiconductor Index soaring 3.5 percent.

Apple Inc led the tech sector’s advance, rising 3.7 percent, ahead of the company’s expected streaming service debut next week.

Thursday’s U.S. economic data was upbeat as initial claims for jobless benefits fell more than expected and mid-Atlantic factory activity rebounded sharply.

The figures mollified worries about the U.S. economic outlook after the Fed on Wednesday surprised investors by adopting a sharp dovish stance, anticipating no further interest rate hikes this year and ending its balance sheet rolloffs.

The dollar also jumped back, with its index against a basket of six major currencies rising to 96.316 from Wednesday’s 1-1/2-month low of 95.735.

The euro traded at $1.1377, off Wednesday’s 1-1/2-month high of $1.14485.

The dollar stood at 110.77 yen, having hit a five-week low of 110.30 on Thursday.

The benchmark U.S. 10-year notes yield slipped to as low as 2.500 percent on Thursday, its lowest since early January last year.

The five-year yield dropped to 2.34 percent, below the current Fed funds rate around 2.40 percent, as fed funds futures price in about 50 percent chances of a rate cut this year.

“The main market reaction to the Fed’s announcement was that it has become a consensus that the Fed’s next move is a rate cut,” said Naoya Oshikubo, senior manager at Sumitomo Mitsui Trust Asset.

“As economic data from China and elsewhere has not bottomed out yet, investors will be looking at economic fundamentals for now. If there are improvements, then markets could roll back expectations of a Fed rate cut,” he said.

Another cloud hanging over markets was Britain’s fraught moves to exit from the European Union, as the British pound was bruised anew by rising worries about a no-deal Brexit.

EU leaders said Britain could leave the European Union without a deal on April 12 if lawmakers fail next week to back Prime Minister Theresa May’s agreement with Brussels.

EU leaders gave May an extra two months, until May 22, to leave if she wins next week’s vote in parliament.

The pound traded at $1.3124, having dropped to $1.3004 the previous day. Against the euro, it hit one-month low of 0.8722 to euro <EURGBP=D4> on Thursday and last stood at 0.8664.

Oil fell held near 2019 highs, supported by a broad risk-on mood, OPEC production cuts and U.S. sanctions on key producers Iran and Venezuela.

U.S. crude traded flat at $59.98 a barrel.

(Editing by Shri Navaratnam)

Source: OANN

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Bernie Sanders: Felons should be able to vote while in prison

Sen. Bernie Sanders has long fought to restore voting rights for felons who’ve completed their prison sentences.

Now the presidential candidate wants to go a big step further – arguing that those currently behind bars should be able to vote too.

FLORIDA MOVES TO REGISTER FORMER FELONS TO VOTE

Asked on the campaign trail in Muscatine, Iowa on Saturday if those imprisoned should have the right to vote, the independent senator from Vermont who’s making his second straight bid for the Democratic nomination answered: "I think that is absolutely the direction we should go.”

"In my state, what we do is separate. You’re paying a price, you committed a crime, you’re in jail. That's bad," Sanders explained. "But you’re still living in American society and you have a right to vote. I believe in that, yes, I do.”

SANDERS UNLOADS ON TRUMP AT SHARPTON CONFERENCE

Vermont and Maine are the only states to allow felons currently serving their sentences to vote.

The issue of voting rights for felons is in the spotlight in Iowa, the state that votes first in the presidential caucus and primary calendar. The Hawkeye state and Kentucky are the only two in the nation to permanently disenfranchise everyone with felony convictions from voting.

Iowa GOP Gov. Kim Reynolds is pushing for a constitutional amendment to allow convicts to have their voting rights restored after they’ve served their sentences. But last week, the Republican-controlled state-Senate torpedoed the plan, likely killing it for the year.

Sanders took to Twitter at the time to write “this is a disappointing setback for voting rights in Iowa.”

Voting rights in 36 states and the District of Columbia are restored to felons after they’ve completed the sentences, with the laws varying to factor in parole and probation.

Presidential candidate Sen. Elizabeth Warren of Massachusetts was asked about the issue a week ago, as the Massachusetts Democrat was campaigning in Iowa. She called for felons who’ve served their time to have the right to vote. But she stopped short of advocating that those actually in prison be able to vote.

"While they’re incarcerated, I think that’s something we can have more conversation about," she said.

FLORIDA PASSES RESTORING VOTING RIGHTS FOR FELONS

Last November, voters in Florida approved a constitutional amendment restoring the right to vote for the 1.4 million felons who’ve finished serving their sentences. Florida was the most populous of 10 states that permanently disenfranchised some people with criminal convictions.

Last April, Democratic Gov. Andrew Cuomo of New York signed an executive order restoring voting rights for felons on parole. And in 2016, Virginia’s governor at the time, Democrat Terry McAuliffe, took executive action to restore voting rights to former felons.

Opponents of allowing those in prison to vote argue that if you’re not willing to follow the law, then you should not have a role in making law for everyone, either directly by voting on referendums and ballot initiatives or indirectly by electing lawmakers.

They point out that that the whole point of incarceration is to separate felons from society.

The Republican National Committee said Democratic attempts to expand the pool of voters friendly to their party is behind the push to allow felons serving time to vote.

“From suggesting that illegal immigrants should be able to vote, to trying to lower the voting age to 16, to now proposing convicted felons behind bars should be able to vote, Democrats are once again trying to rewrite the rules for their own political agenda. When they can’t win at the ballot box, Democrats instead try to rig the system in their favor,” RNC spokesperson Mandi Merritt told Fox News.

Source: Fox News Politics

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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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