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Rep. Adam Schiff: Mueller Report ‘Far Worse’ Than Watergate

While the Mueller report conclusions fell short of Rep. Adam Schiff's, D-Calif., promise of provable conspiracy with Russia to interfere in the 2016 presidential election, the House Intelligence Committee chairman still calls the findings "far worse" than Watergate.

"The obstruction of justice, in particular, in this case is far worse than anything that Richard Nixon did – the break in by the Russians of Democratic institutions, a foreign adversary, far more significant than the plumbers breaking into the Democratic headquarters – so, yes, I would say in every way this is more significant than Watergate," Schiff told ABC News' "This Week."

While "Mueller made it abundantly clear he felt he could not indict the president," Rep. Schiff admitted, the special counsel's report gave a roadmap for Congress to pursue impeachment from the president's actions.

"The fact that a candidate for president and now president of the United States would not only not stand up and resist Russian interference in our election, but would welcome it, goes well beyond anything Nixon did," Schiff told anchor Martha Raddatz. "The fact that the president of the United States would take Putin's side over his own intelligence agencies, goes well beyond anything Richard Nixon did.

"So, yes, I think it is far more serious than Watergate."

Regardless of Rep. Schiff's own confidence, he remains skeptical impeachment would be the right political move for his party.

"We are, unfortunately, in an environment today where the GOP leadership, people like [Rep.] Kevin McCarthy [R-Calif.], are willing to carry the president's water no matter how corrupt or unethical or dishonest the president's conduct may be," Schiff told Raddatz. "And in those kind of circumstances, when [Senate Majority Leader] Mitch McConnell will not stand up to the president either, it means that an impeachment is likely to be unsuccessful.

"Now it may be that we undertake an impeachment nonetheless."

After years of aggressively pursing criminal charges against the Trump campaign, if not the president himself, only to be let down by the Mueller conclusions, Rep. Schiff is now preaching caution.

"I think what we're going to have to decide as a caucus is what is the best thing for the country," Schiff said. "Is the best thing for the country to take up an impeachment proceeding, because to do otherwise sends a message that this conduct is somehow compatible with office. Or is it in the best interest of the country not to take up an impeachment that we know will not be successful in the Senate because the Republican leadership will not do its duty?

"That's a very tough question and I think is one we ought not to make overnight."

Source: NewsMax Politics

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Maldives high court orders police to release former president Yameen

FILE PHOTO: People ride motorcycles past an image of Maldives President Abdulla Yameen on a road ahead of the presidential election in Male
FILE PHOTO: People ride motorcycles past an image of Maldives President Abdulla Yameen on a road ahead of the presidential election in Male, Maldives September 19, 2018. REUTERS/Ashwa Faheem

March 28, 2019

MALE (Reuters) – A court in the Maldives on Thursday ordered the release of former president Abdulla Yameen, saying there was not enough reason to hold him beyond a month under the law.

Yameen was arrested on February 18 to face charges of money laundering stemming from the lease of islands for hotel development during his tenure.

A three-judge bench of the High Court said the prosecution had not provided any reason to extend his remand in custody.

Yameen, who cultivated close ties with China, lost an election in a surprise result last year. His critics accused him of abuse of power and graft.

(Reporting by Mohamed Junayd; Writing by Ranga Sirilal; Editing by Sanjeev Miglani)

Source: OANN

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Smuggler uses girls as distraction to help 10 people illegally cross US-Mexico border, officials say

At least 10 people illegally crossed the U.S.-Mexico border in California on Monday night after a smuggler used two Salvadoran girls as decoys to distract border patrol agents, officials said.

The unidentified smuggler dropped two Salvadoran girls, ages 6 and 9, into concertina wire at an “aging” section of the border barrier, U.S. Customs and Border Protection in San Diego said Tuesday. Video showed the girls being dropped from the wall before the smuggler fled.

Border patrol agents responded to the scene and gave the girls medical attention before taking them to a nearby station.

COPS BLAST CALIFORNIA SANCTUARY CITY POLICIES AFTER PREVIOUSLY DEPORTED ILLEGAL IMMIGRANT ARRESTED FOR MURDER

Video surveillance showed the girls were just a decoy to allow 10 people cross into U.S. territory illegally, officials said.

“All 10 individuals got away,” CBP said.

Officials did not provide further detail on the condition of the Salvadoran girls.

Source: Fox News National

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NJ major slammed for replying to anti-Semitic tweet says he was ‘misinterpreted’

A New Jersey mayor, accused of anti-Semitism on Twitter after telling a resident to call the cops on "Hasidic and Orthodox Jews" invading parks and beaches, apologized Wednesday and said it was a big "misinterpretation."

A resident of Brick Township reportedly tweeted: "Can we please do something about our parks and beaches. They are being invaded by the Hasidic and Orthodox Jews and being ruined. Our tax paying residents are being forced out while politicians sit and do nothing."

RABBI BLASTS ILHAN OMAR, NYT FOR PUSHING CLAIM JESUS WAS ‘PALESTINIAN,’ NOT JEWISH

Mayor John G. Ducey responded on Twitter: "Our parks security has started already. Just call police with any problems and they will send them out."

Yashar Ali, a high-profile freelance journalist whose work has appeared in the Huffington Post and New York magazine, shared a screenshot of the tweet and pointed out Ducey "makes no mention of the tweeters anti-Semitic tone."

MEDIA DIDN'T CALL SRI LANKA MASSACRE AN ATTACK ON CHRISTIANS. HERE'S WHY A MUSLIM SCHOLAR CALLS IT 'VERY TROUBLING'

The mayor denies his response was anti-Semitic, adding he answers every tweet addressed to him.

“I did not want to acknowledge the bigotry thereby giving the commenter the power he was seeking,” Ducey tweeted to one critic. “I just tried to diffuse things and focus his anger at me. … I’ve done pretty well for six years but this is a learning experience.”

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Brick borders Lakewood, which has surged in population with one of the largest Orthodox Jewish communities in the world, according to NJ.com.

On Wednesday morning, Ducey wrote: "This twitter feed (and the world in general) is no place for bigotry or hateful comments. They are hurtful and divisive. They are condemned by me and all who are trying to make a difference in the world. Look for the good in you and others and the world will be a bettter place."

The mayor's office did not immediately respond for comment.

Source: Fox News National

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Fitch says 737 Max grounding to hurt Asian airline industry more in second quarter

FILE PHOTO: Employees walk by the end of a 737 Max aircraft at the Boeing factory in Renton
FILE PHOTO: Employees walk by the end of a 737 Max aircraft at the Boeing factory in Renton, Washington, U.S., March 27, 2019. REUTERS/Lindsey Wasson/File Photo

April 5, 2019

(Reuters) – Fitch Ratings said on Friday the impact on the airline industry in Asia from the grounding of Boeing 737 Max jets has been muted so far but may worsen in the second quarter of 2019.

Boeing’s top-selling aircraft has been grounded worldwide since the March 10 Ethiopian Airlines disaster, which killed 157 people, and came just five months after a Lion Air crash in Indonesia that killed 189.

The grounding of the model has had a limited impact on the fares and performances of airlines in most markets due to seasonally low demand in the first quarter, Fitch said in its report.

It added that there is limited flexibility for airlines to switch to alternatives from Airbus or Boeing.

The Indian aviation market, however, has seen a sharp rise in air fares in the recent months due to tight supply, partly worsened by the suspension of the 737 MAX, Fitch said.

A preliminary report in the Ethiopian crash on Thursday showed that the doomed 737 MAX jet hit excessive speed and was forced downwards by a wrongly-triggered automation system as pilots wrestled to regain control.

(Reporting by Gaurika Juneja and Kanishka Singh in Bengaluru; Editing by Gopakumar Warrier)

Source: OANN

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Treasury won’t meet House Dems’ deadline to provide Trump tax returns, Mnuchin says

Treasury Secretary Steven Mnuchin said Wednesday that the department hasn't decided if it'll comply with a demand by a key House Democrat to deliver President Trump's tax returns, and won't meet a Wednesday deadline to do so.

The news came a day after Mnuchin faced off in a contentious exchange on the issue with the chairwoman of the House Financial Services Committee, California Rep. Maxine Waters. Mnuchin, who testified for more than three hours, said he would rethink whether to reappear before the committee, based on Waters' behavior.

In a letter to House Ways and Means Committee Chairman Richard Neal, D-Mass., who asked for Trump's returns a week ago, Mnuchin said Treasury would consult with the Justice Department and further review the request.

WATCH: MNUCHIN SPARS WITH MAXINE WATERS, TELLS HER TO 'BANG THE GAVEL' AS SHE GOES WIDE-EYED IN SHOCK

"The legal implications of this request could affect protections for all Americans against politically-motivated disclosures of personal tax information, regardless of which party is in power," Mnuchin wrote.

He said Treasury respects lawmakers' oversight duties, and would make sure taxpayer protections were "scrupulously observed, consistent with my statutory responsibilities."

Earlier Wednesday, Trump, who has broken with decades of presidential tradition by not releasing his returns, told reporters he wouldn't do so while he's under IRS audit. He said much the same thing last week.

Treasury Secretary Steven Mnuchin testifies Tuesday before a House Appropriations subcommittee during a hearing on President Trump's budget. (AP Photo/Patrick Semansky)

Treasury Secretary Steven Mnuchin testifies Tuesday before a House Appropriations subcommittee during a hearing on President Trump's budget. (AP Photo/Patrick Semansky)

"I would love to give them, but I'm not going to do it while I'm under audit."

Acting White House Chief of Staff Mick Mulvaney told Fox News on Sunday that Democrats would "never" see Trump's returns.

The IRS says there's no rule against subjects of an audit releasing their tax filings.

The brouhaha comes as several other Democrat presidential contenders have vowed to release their returns or have already done so. Sen. Elizabeth Warren of Massachusetts released her 2018 tax returns on Wednesday, showing she and her husband earned nearly $1 million last year.

And Sen. Bernie Sanders, I-Vt., announced Tuesday that he'll release 10 years of tax returns on Monday -- filings expected to show that the self-declared Democratic socialist made millions from book sales.

Trump's position has long been that he is under audit and therefore unable to divulge his returns. But in recent weeks, he has added to the argument, saying publicly and privately that the American people elected him without seeing his taxes and would do so again.

"Remember, I got elected last time — the same exact issue," Trump said, echoing Mulvaney's remarks in his "Fox News Sunday" interview. "Frankly, the people don't care."

The president has told those close to him that the attempt to get his returns represented an assault on his privacy and a further example of the Democratic-led "witch hunt."

Trump has repeatedly asked aides about the status of the House request and has inquired about the "loyalty" of the top officials at the IRS, according to one outside adviser who spoke on condition of anonymity to discuss private conversations.

"Frankly, the people don't care."

— President Trump

Democrats didn't expect the department to comply, but they haven't sketched out their next steps. Rep. Dan Kildee, D-Mich., speaking before Mnuchin's response was delivered, said it may take Neal a couple of days to issue his own response.

House Democrats are at a party retreat in the Virginia suburbs of Washington.

Neal has adopted a methodical approach to seeking Trump's returns. He has the option of eventually seeking to subpoena the records or go to court to get them, but it's not clear if he's prepared to ratchet up the confrontation.

2020 Democratic presidential candidate Sen. Bernie Sanders greets supporters after a rally, Saturday, March 9, 2019, at the Iowa state fairgrounds in Des Moines, Iowa. (AP Photo/Matthew Putney)

2020 Democratic presidential candidate Sen. Bernie Sanders greets supporters after a rally, Saturday, March 9, 2019, at the Iowa state fairgrounds in Des Moines, Iowa. (AP Photo/Matthew Putney)

Neal's initial letter didn't lay out any consequences for the IRS if it didn't comply, and a spokesman said a likely course would be a second, more insistent, letter.

"We intend to follow through with this," Neal said Wednesday. "I'll let you know fast."

The request for Trump's tax filings is but one of many oversight efforts launched by Democrats after taking back the House in last fall's midterms. Neal is relying on a 1920s-era law that says the IRS "shall furnish" any tax return requested by the chairmen of key House and Senate committees.

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Mnuchin told lawmakers that his department will "follow the law," but he hasn't shared the department's interpretation of the statute.

The White House did not respond to questions as to whether the president asked Mnuchin or the IRS head to intervene.

The president's outside attorney also did not respond to a request for comment.

Fox News' Chad Pergram, Paulina Dedaj, Chris Wallace, and The Associated Press contributed to this report.

Source: Fox News Politics

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Trump says North Korea potential is ‘awesome’ but experts warn against hasty peace deal

U.S. President Donald Trump arrives at Noi Bai Airport for the US-DPRK summit in Hanoi
U.S. President Donald Trump arrives at Noi Bai Airport for the US-DPRK summit in Hanoi, Vietnam February 26, 2019. REUTERS/Kham/Pool

February 27, 2019

(Reuters) –

0240 GMT: TRUMP SEES AWESOME POTENTIAL FOR NORTH KOREA

U.S. President Donald Trump said North Korea had “awesome” potential to thrive if it would denuclearize.

In a Twitter message ahead of his summit with North Korean leader Kim Jong Un in the Vietnamese capital Hanoi, Trump said: “Vietnam is thriving like few places on earth. North Korea would be the same, and very quickly, if it would denuclearize.

“A great opportunity, like almost none other in history, for my friend Kim Jong Un. We will know fairly soon.”

The White House said Trump would meet Kim at the French-colonial-era Metropole Hotel in Hanoi at 6:30 p.m. (1130 GMT) and have a 20-minute one-on-one conversation before a dinner scheduled to last just over an hour and a half. Both arrived in the Vietnamese capital on Tuesday.

(The Metropole hotel is seen ahead of the North Korea-U.S. summit in Hanoi, Vietnam: https://tmsnrt.rs/2VmjrnF)

0212 GMT: EXPERTS URGE CAUTION ON PEACE DEAL

Analysts however cautioned that a peace deal between the two sides would not end the North’s pursuit of nuclear weapons.

Officials and experts have said the two leaders are likely to sign a peace declaration to symbolically end the 1950-53 Korean War. Other agreements could be to open liaison offices in each other’s countries and adopting denuclearization measures, such as allowing inspectors to observe the dismantlement of North Korea’s Yongbyon nuclear reactor, in exchange for a loosening of U.S. economic sanctions against Pyongyang.

The London-based International Institute for Strategic Studies said a peace deal needed to be carefully worked out, otherwise it could lead to regional security risks. “Peace between Washington and Pyongyang might contribute to an untimely withdrawal of U.S. forces from South Korea, encouraging dangerous misconceptions in Pyongyang,” it said.

Daniel Russel, the top U.S. diplomat for Asia until 2017, said: “A peace treaty that leaves in place the arsenal of North Korean chemical, biological, and nuclear weapons that directly threaten Americans and our allies is not much of a peace treaty.

“The path to real peace on the Korean Peninsula begins with irreversible steps by North Korea to eliminate its nuclear weapons program.”

0215 GMT: MARKETS QUIET BUT MAY REACT POSITIVELY

Singapore’s DBS said news about details of denuclearization and the possible easing of North Korea sanctions would be taken positively by markets.

Nomura analyst Chetan Seth said in a note: “If we somehow see some progress towards denuclearization of the Korean Peninsula, this could be another positive catalyst for Asian equities, particularly Korea.”

However, Nick Twidale, Sydney-based analyst at Rakuten Securities Australia, said although the summit is expected to be positive with regard to denuclearization, “little is expected in terms of market moving updates”.

(Graphic: Markets vs North Korea’s provocations – https://tmsnrt.rs/2BWJQkN)

0220 GMT: SUMMIT VENUE HOSTED CHAPLIN ON HIS HONEYMOON

Trump and Kim will meet on Wednesday at a storied French colonial-era hotel once used by the North Vietnamese government to house foreign guests during the Vietnam War.

The Sofitel Legend Metropole Hanoi has hosted dignitaries and celebrities from Charlie Chaplin on his honeymoon in 1936 to “Hanoi Jane” Fonda during her 1970s anti-war campaign and even Trump himself on a recent visit to the Vietnamese capital.

Angelina Jolie and Brad Pitt stayed in the 118-year-old hotel in 2007. The Metropole also hosted Graham Greene, who wrote part of his seminal 1955 work, “The Quiet American” there, and numerous war correspondents during the 20-year-long Vietnam War that ended in 1975.

EXEMPTING S.KOREA FROM N.KOREA SANCTIONS A POSSIBLE CONCESSION – ANALYST

One possible concession that could be offered to North Korea at the summit is exempting South Korea from sanctions imposed on the North for pursuing nuclear weapons, said Brian Meyers, a professor at South Korea’s Dongseo University.

“I urge everyone to focus less on the Pyongyang-Washington axis and more on the Pyongyang-Seoul axis because that’s where the action is,” Meyers said on the Reuters Global Markets Forum.

He said the key issue to be decided at the summit was whether the North would agree to close or allow monitoring of its Yongbyon nuclear facility. “This would not necessarily solve the problem of the North’s existing nukes but it would still be a significant enough concession to enable the Americans to loosen sanctions,” Meyers said.

Kim Young-hwan, an analyst at KB Securities in Seoul, said there was unlikely to be a strong reaction in South Korean financial markets to any loosening of sanctions.

“Stocks with exposure to inter-Korean business exchanges will benefit and post some gains in the following months,” Kim said. “But their weighting on the broad index is just around 4 percent, and therefore, you can’t expect any significant rally for the whole market even if there’s a material agreement at the summit.”

(To see an interactive graphic on inter-Korean relations, click https://tmsnrt.rs/2KdXMcS)

Other summit stories:

Live: North Korea – Reuters social media blog https://www.reuters.com/live/north-korea

(Hanoi newsroom, Swati Pandey, David Brunnstrom, Karishma Singh, Raju Gopalakrishnan)

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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