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Long-hidden Kafka trove within reach after series of trials

A long-hidden trove of unpublished works by Franz Kafka could soon be revealed following a decade-long battle over his literary estate that has drawn comparisons to some of his surreal tales.

A district court in Zurich upheld Israeli verdicts in the case last week, ruling that several safe deposit boxes in the Swiss city could be opened and their contents shipped to Israel's National Library.

At stake are untouched papers that could shed new light on one of literature's darkest figures, a German-speaking Bohemian Jew from Prague whose cultural legacy has been hotly contested between Israel and Germany.

Though the exact content of the vaults remains unknown, experts have speculated the cache could include endings to some of Kafka's major works, many of which were unfinished when they were published after his death.

Israel's Supreme Court has already stripped an Israeli family of its collection of Kafka's manuscripts, which were hidden in Israeli bank vaults and in a squalid, cat-filled Tel Aviv apartment. But the Swiss ruling would complete the acquisition of nearly all his known works, after years of lengthy legal battles over their rightful owners.

The saga could have been penned by Kafka himself, whose name has become known as an adjective to describe absurd situations involving inscrutable legal processes. Kafka was known for his tales of everyman protagonists crushed by mysterious authorities or twisted by unknown shames. In "The Trial," for example, a bank clerk is put through excruciating court proceedings without ever being told the charges against him.

"The absurdity of the trials is that it was over an estate that nobody knew what it contained. This will hopefully finally resolve these questions," said Benjamin Balint, a research fellow at Jerusalem's Van Leer Institute and the author of "Kafka's Last Trial," which chronicles the affair. "The legal process may be ending, but the questions of his cultural belonging and inheritance will remain with us for a very long time."

Kafka bequeathed his writings to Max Brod, his longtime friend, editor and publisher, shortly before his death from tuberculosis in 1924 at the age of 40. He instructed his protege to burn it all unread.

Brod ignored his wishes and published most of what was in his possession — including the novels "The Trial," ''The Castle" and "Amerika." Those works made the previously little-known Kafka posthumously one of the most celebrated and influential writers of the 20th century.

But Brod, who smuggled some of the manuscripts to pre-state Israel when he fled the Nazis in 1938, didn't publish everything. Upon his death in 1968, Brod left his personal secretary, Esther Hoffe, in charge of his literary estate and instructed her to transfer the Kafka papers to an academic institution.

Instead, for the next four decades, Hoffe kept the papers stashed away and sold some of the items for hefty sums. In 1988, for instance, Hoffe auctioned off the original manuscript of "The Trial" at Sotheby's in London. It went for $1.8 million to the German Literature Archive in Marbach, north of Stuttgart.

When Hoffe died in 2008 at age 101, she left the collection to her two daughters, Eva Hoffe and Ruth Wiesler, both Holocaust survivors like herself, who considered Brod a father figure and his archive their rightful inheritance. Both have since also passed away, leaving Wiesler's daughters to continue fighting for the remainder of the collection.

Jeshayah Etgar, a lawyer for the daughters, downplayed the significance of the potential findings in Zurich, saying they were likely replicas of manuscripts Hoffe had already sold. Regardless, he said the ruling was the continuation of a process in which "individual property rights were trampled without any legal justification." He said his clients legitimately inherited the works and called the state seizure of their property "disgraceful" and "first degree robbery."

Israel's National Library claims Kafka's papers as "cultural assets" that belong to the Jewish people. Toward the end of his life, Kafka considered leaving Prague and moving to pre-state Israel. He took Hebrew lessons with a Jerusalem native who eventually donated her pupil's vocabulary notebook to the library. In recent years, the library also took possession of several other manuscripts the courts had ordered Hoffe's descendants to turn over.

"We welcome the judgment of the court in Switzerland, which matched all the judgments entered previously by the Israeli courts," said David Blumberg, chairman of the Israel National Library, a nonprofit and non-governmental body. "The judgment of the Swiss court completes the preparation of the National Library of Israel to accept to entire literary estate of Max Brod, which will be properly handled and will be made available to the wider public in Israel and the world."

Other scholars question Israel's adoption of Kafka, noting that he was conflicted about his own Judaism. The German Literature Archive, for instance, has sided with Hoffe's heirs and aimed to purchase the collection itself, arguing the German-language writings belong in Germany. Dietmar Jaegle, an archive official, said he would not comment on the Zurich verdict as he had not yet seen it.

Balint cautioned that the contents of the hidden archive may not live up to everyone's expectations.

"It is very unlikely we are going to discover an unknown Kafka masterpiece in there, but these are things of value," Balint said, noting the fierce competition over any original Kafka material. "There is something about the uncanny aura of Kafka that is attracted to all this."

____

Follow Heller at www.twitter.com/aronhellerap .

Source: Fox News World

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Volvo expects electric car margins to match conventional vehicles by 2025

FILE PHOTO: An electric vehicle charging cable is seen on the bonnet of a Volvo hybrid car in this picture illustration
FILE PHOTO: An electric vehicle charging cable is seen on the bonnet of a Volvo hybrid car in this picture illustration taken July 6, 2017. REUTERS/Phil Noble/Illustration

March 20, 2019

By Esha Vaish

GOTHENBURG (Reuters) – Volvo Cars expects its margins on electric cars to match those of vehicles with combustion engines by 2025, the head of the Chinese-owned Swedish carmaker told Reuters.

Global automakers are planning a $300 billion surge in spending on electric vehicle technology over the next five to 10 years but have admitted that higher component costs and limited take-up in initial years will hit margins.

Volvo is investing about 5 percent of its annual revenue, equating to a little more than $1 billion a year, in building driverless and electric cars and has promised to deliver five fully electric cars to market in the next few years.

It showcased the first less than a month ago, made by its luxury performance brand Polestar to rival to Tesla’s Model 3. It also plans to launch a Volvo-branded electric compact SUV this year in the company’s push to derive 50 percent of its sales from fully electric cars by 2025.

“It’s very difficult to say if we’re going to have the same margins in 2025 as we had in 2015 … because electric cars are very expensive,” Chief Executive Hakan Samuelsson told Reuters on the sidelines of a safety showcase by the company in Gothenburg.

“But I would be absolute sure we will have the same margins with electric cars as we will with conventional combustion cars in 2025.”

Samuelsson said the convergence would be helped by reducing costs for components such as batteries and declining margins on conventional cars.

(Reporting by Esha Vaish in Gothenburg; Editing by David Goodman)

Source: OANN

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IMF team to visit Pakistan this month in final bailout push

The IMF logo is seen outside the headquarters building in Washington
FILE PHOTO: The International Monetary Fund (IMF) logo is seen outside the headquarters building in Washington, U.S., September 4, 2018. REUTERS/Yuri Gripas

April 15, 2019

By Drazen Jorgic

ISLAMABAD (Reuters) – A mission team from the International Monetary Fund (IMF) will travel to Pakistan this month, the IMF said on Monday, amid growing expectation that talks on a long-delayed bailout are due to be wrapped up soon.

Pakistan was last year expected to sign up for its 13th IMF bailout program since the late 1980s but talks ground to a halt, with Pakistani officials saying the conditions attached to the proposed IMF loans could hurt economic growth.

Pakistan’s macroeconomic outlook has deteriorated in recent months, with the central bank lowering growth forecasts and raising rates at a time when inflation is at a five-year high. The rupee currency has also lost about 35 percent since December 2017.

“At the request of the authorities, an IMF mission will be going to Pakistan before the end of April to continue the discussions,” the IMF said in a statement.

Pakistani Finance Minister Asad Umar earlier this month visited Washington for talks with the IMF, which on Monday described those talks as “constructive discussions”.

The government of Prime Minister Imran Khan, who took power in August, has obtained temporary relief from close allies such as China and Saudi Arabia with short-term loans worth more than $10 billion to buffer foreign currency reserves and ease pressures on the country’s current account.

But analysts have been saying an IMF bailout is inevitable, with Pakistan also facing an increasing fiscal crunch ahead of the annual budget spending review for the next financial year starting July 1.

“After today’s IMF statement, the expectation is that the bailout is pretty much there,” said Saad Hashemy, Chief Economist for Pakistani brokerage house Topline Securities.

But he added that there are questions regarding the time frame of when Pakistan would start receiving the money and the exact contours of the assistance program.

“There are questions if there will be any further devaluations, how much interest rates will be hiked, what taxation measures are expected of Pakistan, and will there be any further increase in electricity or gas prices?” Hashemy added.

Khan’s government is facing increasing anger from the population on the back of rising utility prices, many of which have been subsidized by successive cash-strapped governments.

Inflation was over 9.4 percent in March, its highest since November 2013, with strong increases in food and energy, the two most sensitive items for most consumers.

The central bank forecasts growth at 3.5 to 4 percent in the 12 months to end-June, well off a government target of 6.2 percent.

(Reporting by Drazen Jorgic; Editing by Nick Macfie)

Source: OANN

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U.S. consumer inflation expectations stable for the next year: survey

FILE PHOTO: Shoppers at a Walmart store in Chicago Illinois
FILE PHOTO: A customer shops for a turkey at a Walmart store in Chicago, Illinois, U.S., November 20, 2018. REUTERS/Kamil Krzaczynski/File Photo

April 8, 2019

NEW YORK (Reuters) – U.S. consumers expect stable inflation over the next year even as they anticipate higher wages and gas prices, Federal Reserve Bank of New York data showed on Monday.

People polled in the New York Fed’s survey of consumer expectations are aligned with U.S. monetary policymakers who see prices as stable near their 2 percent annual goal.

The survey showed one-year ahead inflation expectations were unchanged at 2.8% last month, while a three-year inflation figure ticked up 0.1 percentage point to 2.9%.

People forecast earnings to rise 2.6% over the coming year, the largest figure since September. They also see gas prices rising 4.7%, the most since June. U.S. crude oil prices have shot up 40% this year.

Expectations for the cost of food, healthcare, college education and rent were little changed.

Stable and low inflation is one of the main reasons that the Federal Reserve, having raised interest rates four times last year, is now taking a wait-and-see approach to more tightening.

Fed officials last raised their target policy rate in December to 2.25 to 2.50% but signaled after that point that they would be “patient” before deciding future moves.

The Fed is also conducting a broad policy review that may result in the central bank welcoming inflation that is slightly and temporarily over its target. Some policymakers and analysts think the Fed now has far more ability to respond to upward spikes in prices rather than persistently low readings. That is because changing interest rates has less effect on the economy when rates fall to zero.

Many policymakers are also welcoming rising wages rather than assuming that they will force businesses to raise prices.

The internet-based survey taps a rotating panel of 1,300 households.

(Reporting by Trevor Hunnicutt)

Source: OANN

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Warren: Officials Have 'Constitutional Responsibility' to Remove Trump If Unfit

Sen. Elizabeth Warren, D-Mass., said this weekend that members of the Trump administration have a “constitutional responsibility” to remove the president from office if they decide he is unable to fulfil his obligations.

In a press conference after a rally in Las Vegas, Nevada on Sunday, Warren responded to former Acting FBI Director Andrew McCabe, who claimed that officials in the Trump Administration had discussed invoking the 25th Amendment to remove Trump from office after he fired former FBI Director James Comey.

“My point here is that if they believe that Donald Trump cannot fulfill the obligations of his office, then they have a constitutional responsibility to invoke the 25th amendment,” said Warren, who is running for the Democratic nomination in the 2020 presidential race, according to The Nevada Independent. “Their loyalty under law is not to him personally. It is to the Constitution of the United States and to the people of United States.”

“Washington works great for those with money and power,” Warren said during the rally. “It works great for those who can hire an army of lobbyists and lawyers. When we have a government that only works for the rich and the powerful, that is corruption plain and simple, and we got to call it out for what it is.”

“Start with the fact that the Trump administration is the most corrupt administration in living memory,” the senator continued. “But we’ve had problems in Washington for a long, long time, so how about some structural change?”

Source: NewsMax Politics

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Indonesia central bank holds rates, eases a liquidity rule as Fed signals no hikes

FILE PHOTO: The logo of Indonesia's central bank, Bank Indonesia, is seen on a window in the bank's lobby in Jakarta
FILE PHOTO: The logo of Indonesia's central bank, Bank Indonesia, is seen on a window in the bank's lobby in Jakarta, Indonesia, September 22, 2016. REUTERS/Iqro Rinaldi

March 21, 2019

By Gayatri Suroyo and Maikel Jefriando

JAKARTA (Reuters) – Indonesia’s central bank, welcoming the Federal Reserve’s forecast of no U.S. rate hikes this year, on Thursday kept its benchmark on hold to maintain financial stability while tweaking some rules to try to encourage more lending.

Bank Indonesia (BI) held its 7-day reverse repurchase rate steady at 6.00 percent, where it has been since November, as expected by all 20 analysts in a Reuters poll.

The decision came hours after the Fed abandoned projections for any rate hikes this year, sending the rupiah up 0.4 percent on Thursday.

Governor Perry Warjiyo told reporters after the meeting that global developments, including the Fed’s latest statement, “will be more positive for capital inflows to emerging markets, including Indonesia.”

BI was one of Asia’s most aggressive central banks last year, raising the benchmark rate six times by 175 basis points to respond to the Fed’s four rate hikes and to counter outflows that kept the rupiah under pressure for most of 2018.

This year, the rupiah has been generally appreciating due to inflows to Indonesia’s equity and bond markets as major central banks around the world turned dovish.

BI still expected one more rate hike by the Fed through 2020, but sees the rupiah being stable this year, Warjiyo said.

“This is a ‘dovish hold’, said Satria Sambijantoro, an economist at Bahana Sekuritas in Jakarta. “BI signaled its readiness to support credit expansion, with tweaks on some macroprudential policy measures to support liquidity in the banking system.”

BI will raise the guidance for where it wants banks to maintain its financing-to-funding ratio to a 84-94 percent range, from 80-92 percent range, effective July 1.

Warjiyo said the measure, which allows banks to manage a slightly higher liquidity ratio without being penalized, was aimed at getting banks to lend more.

LENDING LIFT

Meanwhile, he said BI had also been adding liquidity to the financial system since December through open market operations, estimating the cash injected so far at 459 trillion rupiah ($32.51 billion).

While banks on aggregate had “more than enough” liquidity, he said smaller banks were facing difficulties to expand lending due to funding constraints.

Warjiyo said the new moves would help accelerate lending growth to the upper end of the 10-12 percent outlook in 2019, without hurting stability.

Even so, BI still sees economic growth this year remaining in a range of 5.0-5.4 percent.

The latest measures announced by BI indicated it “was in little hurry to change interest rates,” Capital Economics said, predicting no change in the benchmark rate this year.

In February, the annual inflation rate cooled to 2.57 percent, the slowest in nearly a decade and just above the lower end of BI’s 2.5-4.5 target range for 2019. Warjiyo said inflation will remain within target until the end of the year.

The Philippine central bank, the second Southeast Asian one holding a policy meeting right after the Fed’s, also kept its benchmark rate on hold, as expected.

(Additional reporting by Fransiska Nangoy, Nilufar Rizki and Tabita Diela; Editing by Richard Borsuk and Ed Davies)

Source: OANN

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FBI Confirms Hillary Clinton Emails Found in Obama White House

The FBI discovered a trove of Hillary Clinton’s missing emails in the Obama White House – specifically the Executive Office of the President, according to FBI testimony obtained by watchdog group Judicial Watch.

Bill Priestap, assistant director of the FBI Counterintelligence Division, disclosed under oath to Judicial Watch as part of a court order that the Executive Office of the President was one of various “repositories” Clinton used for her secretive emails.

“This astonishing confirmation, made under oath by the FBI, shows that the Obama FBI had to go to President Obama’s White House office to find emails that Hillary Clinton tried to destroy or hide from the American people.” said Judicial Watch President Tom Fitton.

“No wonder Hillary Clinton has thus far skated – Barack Obama is implicated in her email scheme.”

Priestap listed several other repositories for Clinton’s emails, including the State Department, the US Secret Service, and the offices of her senior staffers Cheryl Mills and Jake Sullivan.

Additionally, Priestap also confirmed Infowars reports from 2016 that the FBI reviewed nearly 49,000 other Clinton emails found on the laptop of sex offender Anthony Weiner, then-husband to Clinton aide Huma Abedin.

Read Priestap’s full testimony below:


Democrats have been projecting obstruction onto President Trump, yet they are the ones responsible for obstructing the 2016 election. Alex Jones takes your calls on the days breaking news.

Source: InfoWars

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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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