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EU warns Italy to slash rampant public debt

The European Union says it's concerned about Italy's debt and is warning the government in Rome to shore up its public finances.

European Commission Vice-President Valdis Dombrovskis said Wednesday that Italy's "public debt ratio is not expected to decline in coming years due to the weak economic outlook and government fiscal plans."

Dombrovskis said "reform momentum has stalled" and noted "some reversals," particularly on pensions.

Italy expects its debt-to-GDP ratio to rise to 131.7 percent, but the EU's executive commission warned it might be higher "due to the weak macroeconomic outlook, underachievement of privatization targets and a worsening primary balance."

Growth is unlikely to exceed 0.2 percent this year, according to the commission, which said it will "closely monitor developments" and potentially take action against Italy in the spring.

Source: Fox News World

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Syracuse U: U.S. Constitution is ‘exclusionary’ to some students

Syracuse University denied an application for Young Americans for Freedom (YAF) to become a Registered Student Organization (RSO), stating, as one of its reasons for doing so, that requiring students to believe in the U.S. Constitution is “exclusionary to international students.”

The Syracuse Office of Student Activities denied YAF’s application, in part because members must support the “Sharon Statement,” which is a statement of support for the U.S. Constitution. Syracuse took issue with the Sharon Statement, alleging that adhering to it violates the college’s policy of non-discrimination.

“The Board considers the ‘Sharon Statement’ to be contradictory to Article XI Statement of Non-Discrimination,” Syracuse’s RSO Review Board stated in its rejection email to the group, according to documents obtained by Campus Reform. “Additionally, requiring students to agree in the superiority of the U.S. Constitution is exclusionary to international students and other individuals.”

Additionally, Syracuse’s RSO Review Board took issue with the fact that Young Americans for Freedom is associated with its parent organization, Young America’s Foundation, which the board claims has “extensive control” over the former organization.

Young America’s Foundation has a “pattern” of promoting discourse through “inflammatory” means, according to the Board.

“The Board recognizes that the parent organization, Young America’s Foundation, has demonstrated a pattern of past practice of supporting discourse via printed materials and/or other means that are deemed inflammatory,” the Board stated in an email to the group’s president. “Specifically, products that are supplied free of charge, including the ‘Patriot Pack’ that illustrates an aircraft entering into the World Trade Center and inflammatory statements. The Board considers these materials to be contradictory to the educational mission of Syracuse University and in turn the purpose of a Recognized Student Organization.”

The college listed a variety of other reasons for denying the group registered status, including an “incomplete” constitution, the group’s “undemocratic” nature, “continuity” issues as they relate to the group’s activity during the summer months, “ambiguous” meeting times,” and how money is deposited and reimbursed.

Justine Murray, the YAF group’s president and a Campus Reform correspondent, asserted that even if those issues were resolved, Syracuse would still deny their application.

“I want to stay hopeful that maybe they will approve YAF if I made the proposed changes but based off their first two points and the offense they took to our recognition of the U.S. Constitution, it doesn’t look very probable they will accept us,” Murray told Campus Reform.

Koen Weaver, who is the group’s vice chairman, told Campus Reform, “while I understand the important job of the Office of Student Activities in confirming RSOs on campus, I am concerned by the bias and almost anti-Americanism displayed by our rejection.”

“I cannot fathom how an American University could find fault with students upholding and promoting the ideals of the U.S. Constitution,” Weaver added. “Calling the constitution non-inclusive, while completely ignoring the inflammatory rhetoric of the anti-Capitalist and anti-Israeli [rhetoric] of the university’s International Socialist Organization, shows the obvious political bias, if not the liberal indoctrination agenda of the Office of Student Activities.”

Weaver was referencing the fact that the board previously approved an application by the International Socialist Organization to be an RSO. As an RSO, the group promotes open borders on its Facebook page, which is linked from the official university website. The group’s cover photo states, “let them all in,” a reference to the caravans at the border. The group has also posted graphics that read,  “Capitalism Sucks” and, according to Murray and Weaver, put up flyers on campus that read, “from the river to the sea, Palestine will be free,” an iteration of a statement by Temple University professor Marc Lamont Hill at the United Nations last year, which eventually led to Hill’s ousting as a CNN commentator.

Murray further commented on the outcome, telling Campus Reform that she was “seriously disappointed” by the decision.

“It was a blatant rejection of free speech and free assembly as if they either don’t understand the U.S. Constitution or actually understand it and hate its provisions,” Murray said. “Every club has its core belief and the RSO Review Board seems to be selective in how they enforce this aspect of its bylaws as if they’re saying conservative beliefs are exclusionary, but liberal beliefs are not and therefore, any conservative beliefs must be silenced.”

Murray calls it “absolutely ludicrous” for the board to suggest the U.S. Constitution is “exclusionary” for some students.

“It’s absolutely ludicrous for the RSO Review Board to suggest that any recognition of the Bill of Rights by a university club violates some rights of foreign students,” Murray said. “Interestingly, the reason many students from abroad come to study in the United States is because of our freedoms and the constitution that protects these freedoms. The Review Board is basically saying you cannot celebrate America.”

Murray provided Campus Reform with further documentation showing that the group appealed the Office of Student Activities’ decision. However, the appeal was denied because it was submitted an hour and a half after the deadline.

“Unfortunately, the appeal for the Young Americans for Freedom Chapter at SU was submitted after the deadline had passed, therefore, it will not be considered,” the email that denied the appeal reads. “Additionally, the application submitted on behalf of YAF was incomplete because there was no completed advisor contract. It is clear that YAF’s application is still incomplete because it is still missing a completed advisor contract, a required component of the New RSO Application. Therefore, this appeal is moot.”

Murray told Campus Reform that the group asked five faculty members at the college to be their faculty advisor. Only one faculty member, whose name appeared on the group’s RSO application as a “prospective advisor,” indicated that they would be willing.

Of the Syracuse University registered student organizations that appear political in nature, Campus Reform identified six of them as left-leaning while just one is conservative. According to the Syracuse University Registered Student Organization Handbook, RSOs are eligible for, among other benefits, university funding and use of resources.

Weaver told Campus Reform that he would like to see more conservatives get the chance to have their voices heard.

“I hope that conservatives and those who reject certain far-left ideals of the OSA have the opportunity to represent themselves and have their voices heard in the near future,” Weaver said.

Campus Reform attempted multiple times to reach various people at Syracuse University who could comment on this matter, including the individual who sent the rejection email as well as the Director of Student Activities. At the time of publication of this article, none of those calls or emails were returned.



Carpe Donktum was recently retweeted by President Trump, however that tweet was banned due to a musical copyright violation. Carpe Donktum joins Owen to discuss making meme magic about America in 2019.

Source: InfoWars

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Purdue’s Sackler family fights ‘inflammatory’ Massachusetts opioid case

FILE PHOTO: Bottles of prescription painkiller OxyContin made by Purdue Pharma LP on a counter at a local pharmacy in Provo
FILE PHOTO: Bottles of prescription painkiller OxyContin pills, made by Purdue Pharma LP sit on a counter at a local pharmacy in Provo, Utah, U.S., April 25, 2017. REUTERS/George Frey/File Photo

April 2, 2019

By Nate Raymond

BOSTON (Reuters) – Members of the Sackler family behind OxyContin maker Purdue Pharma LP have asked a judge to toss a lawsuit by Massachusetts’ attorney general claiming they helped fuel the U.S. opioid epidemic, arguing it contains “misleading and inflammatory allegations.”

The wealthy family in a motion on Monday argued that Massachusetts Attorney General Maura Healey, who brought the suit, had mischaracterized internal records to create the “false impression” they personally directed privately-held Purdue’s marketing of painkillers.

Her lawsuit, filed in June in Suffolk County Superior Court and revised earlier this year to include new allegations, was the first by a state to try to hold Sackler family members personally responsible for contributing to the opioid epidemic.

The case is among roughly 2,000 lawsuits filed by state and local governments seeking to hold Purdue and other pharmaceutical companies responsible for the U.S. opioid crisis.

Opioids were involved in a record 47,600 overdose deaths in 2017 in the United States, according to the U.S. Centers for Disease Control and Prevention.

Healey’s complaint cites records to argue that family members, including Purdue’s former President Richard Sackler, personally directed deceptive opioid marketing while making $4.2 billion from Purdue from 2008 to 2016.

They did so even after Purdue and three executives in 2007 pleaded guilty to federal charges related to the misbranding of OxyContin and agreed to pay a total of $634.5 million in penalties, the lawsuit said.

But in their motion, the Sacklers said nothing in the complaint supports allegations they personally took part in efforts to mislead doctors and the public about the benefits and addictive risks of opioids.

They said their role was limited to that of typical corporate board members who participated in “routine” votes to ratify the management’s staffing and budget proposals.

“Not a single document shows an individual director engaging in any unlawful conduct regarding the sale of prescription opioids or ordering anyone else to do so,” the Sacklers’ lawyers wrote.

Healey’s office had no comment.

At least 35 states have cases pending against Purdue. A handful have also named Sackler family members as defendants, including Richard Sackler, Theresa Sackler and Mortimer D.A. Sackler.

Last week, Purdue reached its first settlement in the recent wave of lawsuits, agreeing with the Sacklers to a $270 million deal with Oklahoma’s attorney general. The Sacklers were not named as defendants in Oklahoma’s lawsuit.

Purdue had been exploring filing for bankruptcy before the accord’s announcement, Reuters reported in early March.

(Reporting by Nate Raymond in Boston; Editing by Noeleen Walder and Tom Brown)

Source: OANN

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Ukrainian presidential election begins, surveys show comedian candidate leading the polls

Ukrainians cast ballots Sunday in a presidential runoff which had the incumbent struggling to fend off a strong challenge by a comedian who denounces corruption and plays the role of president in a TV sitcom.

Opinion surveys ahead of the election showed 53-year-old President Petro Poroshenko trailing far behind comic actor Volodymyr Zelenskiy, reflecting public dismay with Ukraine's endemic corruption, a moribund economy and a five-year fight against Russia-backed insurgents in the country's east.

Zelenskiy, 41, got twice as many votes as Poroshenko in the first round vote three weeks ago. Like his sitcom character, a teacher thrust into the presidency after a video of him blasting corruption went viral. He focused his campaign on fighting graft, riding the wave of public distrust of Ukraine's political elite.

Poroshenko, a billionaire candy magnate before he took office, has relied on traditional political barnstorming, using sympathetic television stations to extensively cover his appearances.

Zelenskiy largely stayed away from the campaign trail and eschewed interviews. He campaigned mainly on Instagram, where he has 3.7 million followers. After Zelenskiy voted Sunday, police handed him a court summons for failing to keep his ballot away from cameras, an administrative offense punishable by a $30 fine.

The candidates engaged in fierce mutual criticism and jockeyed for dominance. Wrapping up the campaign with a sentimental moment, both men dropped to on their knees during a debate at the country's largest sports stadium Friday to ask forgiveness of those who lost relatives on the eastern battlefront.

COMEDIAN COULD UNSEAT UKRAINE'S POROSHENKO IN THIS SUNDAY'S PRESIDENTIAL RUNOFF

Ukrainian President Petro Poroshenko gestures while speaking to the media as his wife Maryna stands next to him, at a polling station, during the second round of presidential elections in Kiev, Ukraine, Sunday, April 21, 2019. Top issues in the election have been corruption, the economy and how to end the conflict with Russia-backed rebels in eastern Ukraine. ()

Ukrainian President Petro Poroshenko gestures while speaking to the media as his wife Maryna stands next to him, at a polling station, during the second round of presidential elections in Kiev, Ukraine, Sunday, April 21, 2019. Top issues in the election have been corruption, the economy and how to end the conflict with Russia-backed rebels in eastern Ukraine. () (AP Photo/Efrem Lukatsky)

Millions of Ukrainians who live in the rebel-controlled east and in Russia-annexed Crimea are unable to vote. Russia seized Crimea in 2014 in a move that Ukraine and almost all of the world views as illegal. Fighting in the east that erupted that same year after the Russian annexation has killed more than 13,000 people.

Poroshenko campaigned on the same promise he made when he was elected in 2014: to lead the nation of 42 million into the European Union and NATO. However, the goals have been elusive amid Ukraine's economic problems, pervasive corruption and fighting in the east. A visa-free deal with the EU spawned the exodus of millions of skilled workers for better living conditions elsewhere in Europe.

In a jab at his rival, the president warned voters that "it could be funny at first, but pain may come later."

Poroshenko emphasized the need to "defend achievements of the past five years," noting the creation of a new Ukrainian Orthodox Church that is independent from Moscow's patriarchate, a schism he championed.

UKRAINE'S PRESIDENTIAL CANDIDATE PUSHES FOR NEW PARLIAMENT 

But Poroshenko's message fell flat with many voters struggling to survive on meager wages and pay soaring utility bills.

"We have grown poor under Poroshenko and have to save to buy food and clothing," said 55-year-old sales clerk Irina Fakhova. "We have had enough of them getting mired in corruption and filling their pockets and treating us as fools."

Poroshenko denies any link to an alleged embezzlement scheme involving one of his companies and a top associate.

Ukrainian comedian and presidential candidate Volodymyr Zelenskiy shows his ballot before casting his ballot at a polling station, during the second round of presidential elections in Kiev, Ukraine, Sunday, April 21, 2019. Top issues in the election have been corruption, the economy and how to end the conflict with Russia-backed rebels in eastern Ukraine. (AP Photo/Vadim Ghirda)

Ukrainian comedian and presidential candidate Volodymyr Zelenskiy shows his ballot before casting his ballot at a polling station, during the second round of presidential elections in Kiev, Ukraine, Sunday, April 21, 2019. Top issues in the election have been corruption, the economy and how to end the conflict with Russia-backed rebels in eastern Ukraine. (AP Photo/Vadim Ghirda)

Zelenskiy, who comes from Ukraine's mostly Russian-speaking east, has opposed Poroshenko's push for a bill that would outlaw the Russian language and mocked the creation of the new church as a campaign stunt.

Speaking to reporters, he said his campaign already "helped unite the country."

Like Poroshenko, Zelenskiy pledged to keep Ukraine on its pro-Western course, but said the country should only join NATO if voters give their approval in a referendum. He said his top priority would be direct talks with Russia to end the fighting in eastern Ukraine.

Zelenskiy's image has been shadowed by his admission that he had commercial interests in Russia through a holding company, and by his business ties to self-exiled billionaire businessman Ihor Kolomoyskyi. A Poroshenko archrival, Kolomoyskyi owns the TV station that aired the sitcom the actor starred in as well as his comedy shows.

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However, his ties to Kolomoyskyi have not sullied his image enough to cast him as a corrupt candidate in the eyes of voters.

"I have grown up under the old politicians and only have seen empty promises, lies and corruption," said Lyudmila Potrebko, a 22-year-old computer programmer who cast her ballot for Zelenskiy. "It's time to change that."

Source: Fox News World

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Trump Teases Vote on GOP’s Next Obamacare Replacement

President Donald Trump confirmed Monday night Republicans are working on new healthcare legislation designed to replace the current Obamacare law, and he said Congress will vote on it after the 2020 election.

In a series of tweets, Trump explained the situation and why the GOP is taking it on.

"Everybody agrees that ObamaCare doesn't work," Trump tweeted. "Premiums & deductibles are far too high – Really bad HealthCare! Even the Dems want to replace it, but with Medicare for all, which would cause 180 million Americans to lose their beloved private health insurance. The Republicans….."

A second tweet, posted about 10 minutes later, read, "....are developing a really great HealthCare Plan with far lower premiums (cost) & deductibles than ObamaCare. In other words it will be far less expensive & much more usable than ObamaCare. Vote will be taken right after the Election when Republicans hold the Senate & win……"

Trump closed the thread with a final message: "....back the House. It will be truly great HealthCare that will work for America. Also, Republicans will always support Pre-Existing Conditions. The Republican Party will be known as the Party of Great HealtCare. Meantime, the USA is doing better than ever & is respected again!"

Republicans tried and failed to repeal and replace Obamacare in 2017. Trump recently brought the issue back to the front burner as he gears up for his 2020 campaign.

Source: NewsMax America

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China auto sales fall in January for eighth month

China's auto sales fell for an eighth month in January, extending a painful decline for the biggest global market.

An industry group, the China Association of Automobile Manufacturers, says purchases of sedans, SUVs and minivans fell 15 percent from a year earlier to just over 2 million vehicles.

Auto demand has weakened as Chinese economic growth cooled and a tariff fight with Washington fueled uncertainty among buyers.

The slump is a setback for global automakers that are looking to China to drive revenue.

Sales by Chinese brands fell 22 percent while global brands gained market share.

Purchases of electric and hybrid vehicles, which Beijing is promoting with subsidies, rose 138 percent over a year earlier to 96,000 units.

Source: Fox News World

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Biden team 'collecting resumes' as former VP decides on 2020

A decision by former Vice President Joe Biden on running for the White House could still be more than a month away, but that’s not stopping members of his team from taking the initial steps to build a campaign structure.

“They’re collecting resumes but making no commitments,” a source close to Biden’s inner circle told Fox News on Tuesday. “They’re thinking about where people fit” into a possible presidential campaign. The source asked to remain anonymous to speak more freely.

SOURCES:  BIDEN ALMOST CERTAIN TO RUN FOR PRESIDENT

With at least 10 Democrats already in the race – including Sens. Bernie Sanders of Vermont, Elizabeth Warren of Massachusetts, Kamala Harris of California, Cory Booker of New Jersey, Kirsten Gillibrand of New York, and Amy Klobuchar of Minnesota – the field for the 2020 Democratic nomination is quickly getting crowded. And at least a half-dozen other likely contenders are expected to make it official in the coming weeks.

Many of the White House hopefuls have already hired experienced staff in the early voting states of Iowa, New Hampshire, South Carolina and Nevada. And veteran fundraising bundlers and donors are committing to already-declared Democratic presidential candidates.

“We know we’ll lose people,” the source acknowledged, with regard to the time Biden is taking to reach a decision.

But those concerns don’t appear to weigh too heavily on the former vice president when it comes to his timetable.

“If he loses one more organizer or state chair, he’s not going to let himself get pushed him,” the source added.

BIDEN SLAMS TRUMP'S TREATMENT OF EUROPEAN ALLIES

As he mulls making a third bid for the White House, Biden’s indicated he’s in no rush.

Speaking overseas at the Munich Security Conference earlier this month, the former vice president said, “I think there is a sufficient amount of time to do that. And I think we have a tendency, particularly in the States, to start the whole election process much too early. I think we should be focusing now on what needs to be done to alter some of the policies that are being promoted by the president."

Another person close to Biden – who also asked to remain anonymous to speak more freely – told Fox News that the former vice president is “definitely leaning towards yes.”

But the source emphasized that family concerns remain the top issue for Biden as he makes his decision.

Looking ahead in the calendar, Jill Biden’s book, "Where the Light Enters: Building a Family, Discovering Myself," is scheduled to be published in May. What that may say about her husband’s 2020 timetable and whether Biden would announce a presidential campaign ahead of his wife’s book tour is unclear.

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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