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Devin Nunes Parody Twitter Account's Following Surpasses Real Account

A parody account on Twitter that is one of the subjects of a lawsuit filed by Rep. Devin Nunes, R-Calif., has gained more than 460,000 followers since Monday — giving it more followers than Nunes himself.

As Mediaite noted, @DevinCow's list of followers has shot through the roof and is now more than 65,000 ahead of the official account for Nunes, a former chairman of the House Intelligence Committee.

As of 5 p.m. ET Wednesday, Nunes' account had 395,000 followers and the parody account had 461,000.

Nunes is suing Twitter for $250 million and is seeking an additional $350,000 in punitive damages, alleging it shadow bans conservatives and is "knowingly hosting and monetizing content that is clearly abusive, hateful and defamatory — providing both a voice and financial incentive to the defamers — thereby facilitating defamation on its platform."

Source: NewsMax Politics

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Minister at secretive N Carolina church sentenced for fraud

A minster at a secretive church in North Carolina has been sentenced to 34 months in prison and ordered to pay $466,960 in restitution for his role in an unemployment fraud scheme involving businesses owned by members of the congregation.

Kent Covington, a minister at the Word of Faith Fellowship in Spindale, North Carolina, was charged with one count of conspiracy to commit mail fraud in U.S. District Court in Asheville in June 2018. He pleaded guilty to the charge in September. The conspiracy charge carried a possible maximum penalty of 30 years in prison and a $1 million fine.

In court filings, prosecutors had recommended a sentence between 57 and 71 months for Covington.

"The unemployment insurance system was his piggy bank, there for his convenience, and he raided it when he felt the need," prosecutors wrote.

The development follows an investigation by The Associated Press that, beginning in 2017, documented claims of physical and emotional abuse at the church. AP also reported that authorities were looking into the unemployment claims of congregants and their businesses.

Prosecutors say Covington and his employee, Dianne McKinny, decided to lay off employees at one of Covington's businesses so they could collect unemployment benefits in 2008 when the company was struggling financially. But the employees continued to work at the company, Diverse Corporate Technologies, with the unemployment checks replacing their salaries. They later put the scheme into place at Covington's other business, Integrity Marble & Granite. Covington then implemented a variation of the scheme at Sky Catcher Communications Inc., a company he managed, prosecutors say.

U.S. District Judge Martin Reidinger said that Covington had shown a "cynical disregard to the law" and he wanted to send a message to the community. The judge noted that the unemployment scheme happened at a time when the state had to borrow money during the recession.

The judge said Covington's actions "undermine the entire unemployment security structure of the state. ... It's sort of like picking the pocket of a dying man."

McKinny has pleaded not guilty. She is scheduled for trial May 6. In addition to conspiracy, McKinny is charged in a subsequent indictment with lying to federal agents.

Besides Covington and McKinny, two others were charged in the federal investigation. Dr. Jerry Gross, a podiatrist, and his son, Jason Gross, were sentenced last week to three years on probation and jointly ordered to pay restitution of $162,276 after admitting to fraud at a podiatry clinic in Forest City, North Carolina. Both are listed as ministers on the church website.

Jane Whaley, the church's leader, has not been charged, but she was named in a court document as someone who "promoted" the scheme.

Former members said Whaley called it "God's plan" to help the businesses survive the economic downturn and keep money coming into the church.

Covington's lawyer, Stephen Cash, has said that while Covington pleaded guilty, it was not an "admission that Jane Whaley instructed him to act."

Whaley's attorney, Noell Tin, has said Whaley "strongly denies any insinuation that she was somehow involved in Mr. Covington's offense, as does Mr. Covington."

The scheme resulted in more than $250,000 in fraudulent claims between November 2008 and March 2013, according to the original indictment in the case.

The unemployment allegations were uncovered as part of the AP's investigation into Word of Faith, which had about 750 congregants in rural North Carolina and a total of nearly 2,000 members in its branches in Brazil and Ghana and its affiliations in other countries.

In February 2017, the AP cited 43 former members who said congregants were regularly punched and choked in an effort to beat out devils. The AP also revealed how, over the course of two decades, followers were ordered by church leaders to lie to authorities investigating reports of abuse.

AP later outlined how the church created a pipeline of young laborers from its two Brazilian congregations who say they were brought to the U.S. and forced to work for little or no pay at businesses owned by church leaders.

Covington is described by former congregants as the highest-ranking member of the church to be charged in the unemployment case.

Most employees were members of the Word of Faith Fellowship. Prosecutors said Covington used his leadership position in the church to force them to comply.

Covington spent eight months in a North Carolina prison in 1974 for breaking and entering, as well as larceny, and later joined the church.

His wife, Brooke Covington, is one of Whaley's most trusted confidants.

Brooke Covington is facing unrelated state charges that she and other members of the church assaulted a congregant in an effort to expel his "homosexual demons."

___

Read more of AP's Broken Faith series here .

___

Mohr contributed from Jackson, Mississippi.

Source: Fox News National

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Afghan Supreme Court allows Ghani term to cover delay to election

FILE PHOTO: Munich Security Conference in Munich
FILE PHOTO: Afghanistan's President Ashraf Ghani attends a meeting with U.S. Vice President Mike Pence during the annual Munich Security Conference in Munich, Germany February 16, 2019. REUTERS/Michael Dalder/File Photo

April 22, 2019

KABUL (Reuters) – Afghanistan’s Supreme Court has ruled that President Ashraf Ghani can stay in office until a much-delayed presidential election, which is due to be held after his mandate expires next month, officials said.

The election, originally scheduled for April this year, has been postponed twice to allow more time to organize the poll, first to July and then to Sept. 28, well after the official end of Ghani’s five-year term on May 22.

Amid growing division in Kabul, opposition politicians demanded he step down as soon as his mandate ends and give way to an interim government to oversee peace talks with the Taliban. Ghani, seeking a second term, has ruled that out.

Government officials, speaking on condition of anonymity, confirmed the court decision, but the way the news was announced underscores the confusion in Afghan politics as Ghani’s term nears its end.

Television station Ariana TV first carried the news on Sunday, citing a court document ruling that the constitution allowed the president to remain in office until the election.

However, with political rivals attacking the move and accusing the government of imposing the ruling, the court refused to confirm the decision, saying it was for the government to announce.

The presidential palace press office said only the court could announce its own decision.

In a short video statement it said that the government remaining in office for another six months was in line with what happened before elections in 2009 and 2014.

Atta Mohammad Noor, leader of the Jamiat-e Islami party and a former provincial governor who remains one of the most powerful figures in Afghan politics, said the decision was “unlawful” and undermined the authority of the Supreme Court.

“(Ghani’s) tenure ends in May and that’s it,” a message on Atta Noor’s Twitter account said. He called on presidential candidates, lawyers and legislators to “elaborate on this” but did not say whether he would mount a legal challenge.

The confusion came just days after a planned meeting between Taliban representatives and a 250-strong group of Afghan officials and civil society figures was canceled amid recriminations over the size and status of the delegation.

Ghani took office in 2014 at the head of a unity government including his rival, Abdullah Abdullah, after a bitterly disputed election that was tainted by significant voter fraud and which left no clear winner.

(Reporting by Abdul Qadir Sediqi, James Mackenzie)

Source: OANN

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VW says China to become global software development hub to autonomous tech

FILE PHOTO: People pass in front of a Volkswagen logo ahead of the Shanghai Auto Show
FILE PHOTO: People pass in front of a Volkswagen logo ahead of the Shanghai Auto Show, in Shanghai, China April 15, 2019. REUTERS/Aly Song/File Photo

April 15, 2019

SHANGHAI (Reuters) – Volkswagen will use Chinese software developers to help design a global autonomous vehicle architecture thanks to the prevalence of qualified programmers which carmakers are struggling to hire elsewhere, senior executives said on Monday.

As carmakers scramble to develop advanced driver assistance systems and autonomous driving functions, carmakers are struggling to find qualified engineers to build the software algorithms needed to teach cars the right reflexes.

Volkswagen has 4,000 engineers in China, with an average age of 29, spread over five research and development sites and a rapidly growing number of software engineers.

“In a short period from now they will be able to do 15 to 20 million lines of programming code on an annual basis,” Volkswagen China’s passenger cars chief Stephan Woellenstein said in Shanghai on Monday.

The prevalence of software engineers, combined with the country’s willingness to roll out the infrastructure for connected and self-driving cars, will make China one of the first markets in which autonomous cars gain widespread acceptance, VW managers said.

As a result, Chinese suppliers will help Volkswagen Group to design a global autonomous vehicle architecture, he said.

“Part of the software development work can be done for instance in Chinese facilities out of Volkswagen Group China,” Woellenstein said.

For connected vehicles technology China will become a leading global research and development center, said Sven Patuschka, Head of Volkswagen Group China’s research and development.

“We will further strengthen our capabilities to develop in China for China and for certain technologies for the rest of the world. We find excellent talents here and are ready address customer requirements in this fascinating market,” Patuschka said.

Volkswagen is reviewing whether to change the structure of its joint ventures with FAW and SAIC as well as JAC to improve research and development capabilities.

“We are in discussions about how to broaden and deepen cooperation with our partners,” Woellenstein said, declining to comment on whether VW was seeking to change the ownership structure of its joint ventures.

Volkswagen’s Spanish Seat brand is working with Chinese partner JAC to develop a second smaller electric vehicle architecture.

“JAC Volkswagen and SEAT have taken the project lead,” VW Group Chief Executive Herbert Diess said.

(Reporting by Edward Taylor, editing by Ed Osmond)

Source: OANN

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Czechs to buy army helicopters from U.S. company: deputy minister

FILE PHOTO: Members of Austrian special operations unit Jagdkommando perform an exercise on an Agusta Bell 212 helicopter in Wiener Neustadt
FILE PHOTO: Members of Austrian special operations unit Jagdkommando perform an exercise on an Agusta Bell 212 helicopter in Wiener Neustadt, Austria, March 31, 2017. REUTERS/Heinz-Peter Bader/File Photo

March 16, 2019

PRAGUE (Reuters) – The Czech Republic will buy 12 military helicopters from a U.S. company, narrowing the field of possible suppliers, Deputy Defense Minister Jakub Landovsky told a paper on Saturday.

The Defense Ministry scrapped a tender for helicopters in 2017 and planned to launch another in summer 2018, meant to include bidders from Germany and Italy too.

The contract, estimated at 12.5 billion crowns ($553 million), will now go to Bell Helicopter, a unit of Textron, or Lockheed Martin’s Sikorski, the Pravo daily paper said.

“It is true that we did not have any large project with the United States for a long time,” Landovsky said in an interview published by Pravo.

“The helicopters are now on the table. And it is possible to say that we are in exclusive talks with the United States now about a purchase of new helicopters,” he said.

(Reporting by Robert Muller; Editing by Mark Potter)

Source: OANN

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Shootout in northwest Pakistan kills policeman, 5 militants

Pakistani authorities say a raid by security forces on a militant hideout in the northwestern city of Peshawar triggered a 15-hour shootout in which a police officer and at least five suspected militants were killed.

Shaukat Yousafzai, a government spokesman in Khyber Pakhtunkhwa province, said police and commandos surrounded a home in the city on Monday night, acting on intelligence about planned attacks.

He says the suspects were asked to surrender but instead, they opened fire on the security forces. Police say the suspects also threw grenades, which killed an officer.

The operation is ongoing and the security forces are trying to get into the basement of the house, where one or two more suspects might be hiding.

Peshawar is the provincial capital in Khyber Pakhtunkhwa, which borders Afghanistan.

Source: Fox News World

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Trump attorney pushes back on House panel’s request for Trump tax returns

FILE PHOTO - U.S. President Trump participates in revitalization council meeting at the White House in Washington
FILE PHOTO - U.S. President Donald Trump speaks during a White House Opportunity and Revitalization Council meeting in the Cabinet room at the White House in Washington, U.S., April 4, 2019. REUTERS/Kevin Lamarque

April 5, 2019

(Reuters) – An attorney for U.S. President Donald Trump said on Friday a U.S. House committee’s effort to obtain six years of the president’s private tax returns was “not consistent with governing law.”

“The requests for his private tax information are not consistent with governing law, do not advance any proper legislative purpose, and threaten to interfere with the ordinary conduct of audits,” attorney William Consovoy of Consovoy McCarthy Park said in a statement.

“We are confident that this misguided attempt to politicize the administration of the tax laws will not succeed,” he said.

(Reporting by Karen Freifeld; Writing by Tim Ahmann; Editing by Mohammad Zargham)

Source: OANN

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The Wider Image: China's start-ups go small in age of 'shoebox' satellites
LinkSpace’s reusable rocket RLV-T5, also known as NewLine Baby, is carried to a vacant plot of land for a test launch in Longkou, Shandong province, China, April 19, 2019. REUTERS/Jason Lee

April 26, 2019

By Ryan Woo

LONGKOU, China (Reuters) – During initial tests of their 8.1-metre (27-foot) tall reusable rocket, Chinese engineers from LinkSpace, a start-up led by China’s youngest space entrepreneur, used a Kevlar tether to ensure its safe return. Just in case.

But when the Beijing-based company’s prototype, called NewLine Baby, successfully took off and landed last week for the second time in two months, no tether was needed.

The 1.5-tonne rocket hovered 40 meters above the ground before descending back to its concrete launch pad after 30 seconds, to the relief of 26-year-old chief executive Hu Zhenyu and his engineers – one of whom cartwheeled his way to the launch pad in delight.

LinkSpace, one of China’s 15-plus private rocket manufacturers, sees these short hops as the first steps towards a new business model: sending tiny, inexpensive satellites into orbit at affordable prices.

Demand for these so-called nanosatellites – which weigh less than 10 kilograms (22 pounds) and are in some cases as small as a shoebox – is expected to explode in the next few years. And China’s rocket entrepreneurs reckon there is no better place to develop inexpensive launch vehicles than their home country.

“For suborbital clients, their focus will be on scientific research and some commercial uses. After entering orbit, the near-term focus (of clients) will certainly be on satellites,” Hu said.

In the near term, China envisions massive constellations of commercial satellites that can offer services ranging from high-speed internet for aircraft to tracking coal shipments. Universities conducting experiments and companies looking to offer remote-sensing and communication services are among the potential domestic customers for nanosatellites.

A handful of U.S. small-rocket companies are also developing launchers ahead of the expected boom. One of the biggest, Rocket Lab, has already put 25 satellites in orbit.

No private company in China has done that yet. Since October, two – LandSpace and OneSpace – have tried but failed, illustrating the difficulties facing space start-ups everywhere.

The Chinese companies are approaching inexpensive launches in different ways. Some, like OneSpace, are designing cheap, disposable boosters. LinkSpace’s Hu aspires to build reusable rockets that return to Earth after delivering their payload, much like the Falcon 9 rockets of Elon Musk’s SpaceX.

“If you’re a small company and you can only build a very, very small rocket because that’s all you have money for, then your profit margins are going to be narrower,” said Macro Caceres, analyst at U.S. aerospace consultancy Teal Group.

“But if you can take that small rocket and make it reusable, and you can launch it once a week, four times a month, 50 times a year, then with more volume, your profit increases,” Caceres added.

Eventually LinkSpace hopes to charge no more than 30 million yuan ($4.48 million) per launch, Hu told Reuters.

That is a fraction of the $25 million to $30 million needed for a launch on a Northrop Grumman Innovation Systems Pegasus, a commonly used small rocket. The Pegasus is launched from a high-flying aircraft and is not reusable.

(Click https://reut.rs/2UVBjKs to see a picture package of China’s rocket start-ups. Click https://tmsnrt.rs/2GIy9Bc for an interactive look at the nascent industry.)

NEED FOR CASH

LinkSpace plans to conduct suborbital launch tests using a bigger recoverable rocket in the first half of 2020, reaching altitudes of at least 100 kilometers, then an orbital launch in 2021, Hu told Reuters.

The company is in its third round of fundraising and wants to raise up to 100 million yuan, Hu said. It had secured tens of millions of yuan in previous rounds.

After a surge in fresh funding in 2018, firms like LinkSpace are pushing out prototypes, planning more tests and even proposing operational launches this year.

Last year, equity investment in China’s space start-ups reached 3.57 billion yuan ($533 million), a report by Beijing-based investor FutureAerospace shows, with a burst of financing in late 2018.

That accounted for about 18 percent of global space start-up investments in 2018, a historic high, according to Reuters calculations based on a global estimate by Space Angels. The New York-based venture capital firm said global space start-up investments totaled $2.97 billion last year.

“Costs for rocket companies are relatively high, but as to how much funding they need, be it in the hundreds of millions, or tens of millions, or even just a few million yuan, depends on the company’s stage of development,” said Niu Min, founder of FutureAerospace.

FutureAerospace has invested tens of millions of yuan in LandSpace, based in Beijing.

Like space-launch startups elsewhere in the world, the immediate challenge for Chinese entrepreneurs is developing a safe and reliable rocket.

Proven talent to develop such hardware can be found in China’s state research institutes or the military; the government directly supports private firms by allowing them to launch from military-controlled facilities.

But it’s still a high-risk business, and one unsuccessful launch might kill a company.

“The biggest problem facing all commercial space companies, especially early-stage entrepreneurs, is failure” of an attempted flight, Liang Jianjun, chief executive of rocket company Space Trek, told Reuters. That can affect financing, research, manufacturing and the team’s morale, he added.

Space Trek is planning its first suborbital launch by the end of June and an orbital launch next year, said Liang, who founded the company in late 2017 with three other former military technical officers.

Despite LandSpace’s failed Zhuque-1 orbital launch in October, the Beijing-based firm secured 300 million yuan in additional funding for the development of its Zhuque-2 rocket a month later.

In December, the company started operating China’s first private rocket production facility in Zhejiang province, in anticipation of large-scale manufacturing of its Zhuque-2, which it expects to unveil next year.

STATE COMPETITION

China’s state defense contractors are also trying to get into the low-cost market.

In December, the China Aerospace Science and Industry Corp (CASIC) successfully launched a low-orbit communication satellite, the first of 156 that CASIC aims to deploy by 2022 to provide more stable broadband connectivity to rural China and eventually developing countries.

The satellite, Hongyun-1, was launched on a rocket supplied by the China Aerospace Science and Technology Corp (CASC), the nation’s main space contractor.

In early April, the China Academy of Launch Vehicle Technology (CALVT), a subsidiary of CASC, completed engine tests for its Dragon, China’s first rocket meant solely for commercial use, clearing the path for a maiden flight before July.

The Dragon, much bigger than the rockets being developed by private firms, is designed to carry multiple commercial satellites.

At least 35 private Chinese companies are working to produce more satellites.

Spacety, a satellite maker based in southern Hunan province, plans to put 20 satellites in orbit this year, including its first for a foreign client, chief executive Yang Feng told Reuters.

The company has only launched 12 on state-produced rockets since the company started operating in early 2016.

“When it comes to rocket launches, what we care about would be cost, reliability and time,” Yang said.

(Reporting by Ryan Woo; Additional reporting by Beijing newsroom; Editing by Gerry Doyle)

Source: OANN

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German drug and crop chemical maker Bayer holds annual general meeting
Werner Baumann, CEO of German pharmaceutical and chemical maker Bayer AG, attends the annual general shareholders meeting in Bonn, Germany, April 26, 2019. REUTERS/Wolfgang Rattay

April 26, 2019

By Patricia Weiss and Ludwig Burger

BONN (Reuters) – Bayer shareholders vented their anger over its stock price slump on Friday as litigation risks mount from the German drugmaker’s $63 billion takeover of seed maker Monsanto.

Several large investors said they will not support aspirin investor Bayer’s management in a key vote scheduled for the end of its annual general meeting.

Bayer’s management, led by chief executive Werner Baumann, could see an embarrassing plunge in approval ratings, down from 97 percent at last year’s AGM, which was held shortly before the Monsanto takeover closed in June.

A vote to ratify the board’s actions features prominently at every German AGM. Although it has no bearing on management’s liability, it is seen as a key gauge of shareholder sentiment.

“Due to the continued negative development at Bayer, high legal risks and a massive share price slump, we refuse to ratify the management board and supervisory board’s actions during the business year,” Janne Werning, representing Germany’s Union Investment, a top-20 shareholder, said in prepared remarks.

About 30 billion euros ($34 billion) have been wiped off Bayer’s market value since August, when a U.S. jury found the pesticide and drugs group liable because Monsanto had not warned of alleged cancer risks linked to its weedkiller Roundup.

Bayer suffered a similar defeat last month and more than 13,000 plaintiffs are claiming damages.

Bayer is appealing or plans to appeal the verdicts.

Deutsche Bank’s asset managing arm DWS said shareholders should have been consulted before the takeover, which was agreed in 2016 and closed in June last year.

“You are pointing out that the lawsuits have not been lost yet. We and our customers, however, have already lost something – money and trust,” Nicolas Huber, head of corporate governance at DWS, said in prepared remarks for the AGM.

He said DWS would abstain from the shareholder vote of confidence in the executive and non-executive boards.

Two people familiar with the situation told Reuters this week that Bayer’s largest shareholder, BlackRock, plans to either abstain from or vote against ratifying the management board’s actions.

Asset management firm Deka, among Bayer’s largest German investors, has also said it would cast a no vote.

Baumann said Bayer’s true value was not reflected in the current share price.

“There’s no way to make this look good. The lawsuits and the first verdicts weigh heavily on our company and it’s a concern for many people,” he said, adding it was the right decision to buy Monsanto and that Bayer was vigorously defending itself.

This month, shareholder advisory firms Institutional Shareholder Services (ISS) and Glass Lewis recommended investors not to give the executive board their seal of approval.

(Reporting by Patricia Weiss and Ludwig Burger; Editing by Alexander Smith)

Source: OANN

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Sudan’s military, which ousted President Omar al-Bashir after months of protests against his 30-year rule, says it intends to keep the upper hand during the country’s transitional period to civilian rule.

The announcement is expected to raise tensions with the protesters, who demand immediate handover of power.

The Sudanese Professionals Association, which is spearheading the protests, said Friday the crowds will stay in the streets until all their demands are met.

Shams al-Deen al-Kabashi, the spokesman for the military council, said late Thursday that the military will “maintain sovereign powers” while the Cabinet would be in the hands of civilians.

The protesters insist the country should be led by a “civilian sovereign” council with “limited military representation” during the transitional period.

The army toppled and arrested al-Bashir on April 11.

Source: Fox News World

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FILE PHOTO: Small toy figures are seen in front of a displayed Huawei and 5G network logo in this illustration picture
FILE PHOTO: Small toy figures are seen in front of a displayed Huawei and 5G network logo in this illustration picture, March 30, 2019. REUTERS/Dado Ruvic

April 26, 2019

By Charlotte Greenfield

WELLINGTON (Reuters) – China’s Huawei Technologies said Britain’s decision to allow the firm a restricted role in building parts of its next-generation telecoms network was the kind of solution it was hoping for in New Zealand, where it has been blocked from 5G plans.

Britain will ban Huawei from all core parts of 5G network but give it some access to non-core parts, sources have told Reuters, as it seeks a middle way in a bitter U.S.-China dispute stemming from American allegations that Huawei’s equipment could be used by Beijing for espionage.

Washington has also urged its allies to ban Huawei from building 5G networks, even as the Chinese company, the world’s top producer of telecoms equipment, has repeatedly said the spying concerns are unfounded.

In New Zealand, a member of the Five Eyes intelligence sharing network that includes the United States, the Government Communications Security Bureau (GCSB) in November turned down an initial request from local telecommunication firm Spark to include Huawei equipment in its 5G network, but later gave the operator options to mitigate national security concerns.

“The proposed solution in the UK to restrict Huawei from bidding for the core is exactly the type of solution we have been looking at in New Zealand,” Andrew Bowater, deputy CEO of Huawei’s New Zealand arm, said in an emailed statement.

Spark said it has noted the developments in Britain and would raise it with the GCSB.

The reports “suggest the UK is following other European jurisdictions in taking a considered and balanced approach to managing supplier-related security risks in 5G”, Andrew Pirie, Spark’s corporate relations lead, said in an email.

“Our discussions with the GCSB are ongoing and we expect that the UK developments will be a further item of discussion between us,” Pirie added.

New Zealand’s minister for intelligence services, Andrew Little, did not immediately respond to a request for comment.

British culture minister Jeremy Wright said on Thursday that he would report to parliament the conclusions of a government review of the 5G supply chain once they had been taken.

He added that the disclosure of confidential discussions on the role of Huawei was “unacceptable” and that he could not rule out a criminal investigation into the leak.

The decisions by Britain and Germany to use Huawei gear in non-core parts of 5G network makes it harder to prove Huawei should be kept out of New Zealand telecommunication networks, said Syed Faraz Hasan, an expert in communication engineering and networks at New Zealand’s Massey University

He pointed out Huawei gear was already part of the non-core 4G networks that 5G infrastructure would be built on.

“Unless there is a convincing argument against the Huawei devices … it is difficult to keep them away,” Hasan said.

(Reporting by Charlotte Greenfield; Editing by Himani Sarkar)

Source: OANN

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FILE PHOTO: The logo commodities trader Glencore is pictured in Baar
FILE PHOTO: The logo of commodities trader Glencore is pictured in front of the company’s headquarters in Baar, Switzerland, July 18, 2017. REUTERS/Arnd Wiegmann

April 26, 2019

(Reuters) – Glencore shares plunged the most in nearly four months on Friday after news overnight that U.S. regulators were investigating whether the miner broke some rules through “corrupt practices”.

Shares of the FTSE 100 company fell as much as 4.2 percent in early deals, and were down 3.5 percent at 310.25 pence by 0728 GMT.

On Thursday, Glencore said the U.S. Commodity Futures Trading Commission is investigating whether the company and its units have violated some provisions of the Commodity ExchangeAct and/or CFTC Regulations.

(Reporting by Muvija M in Bengaluru)

Source: OANN

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