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Top strategists split from Bernie Sanders for his 2020 White House run

FILE PHOTO: Senator Bernie Sanders speaks during a news conference on Yemen resolution
FILE PHOTO: U.S. Senator Bernie Sanders speaks during a news conference on Yemen resolution on Capitol Hill in Washington, U.S., January 30, 2019. REUTERS/Yuri Gripas/File Photo

February 26, 2019

By John Whitesides

WASHINGTON (Reuters) – Three of the top media strategists for Democratic presidential contender Bernie Sanders stepped away from his 2020 campaign on Tuesday, citing creative differences over their vision for his fledgling White House run.

Prominent consultants Tad Devine, Mark Longabaugh and Julian Mulvey, who played leading roles in Sanders’ insurgent 2016 presidential campaign, said they would not work on the Vermont senator’s 2020 bid for the Democratic nomination, which was launched last week.

“We are leaving because we believe that Senator Sanders deserves to have media consultants who share his creative vision for the campaign,” the three said in a joint statement.

The three are partners in a media consulting firm that produced 275 television, radio and digital ads for the Sanders campaign in the 2016 race. It also put together the video that Sanders used to launch his 2020 campaign, and advised Sanders on his announcement schedule and rollout, Longabaugh said.

In 2016, Devine also served as a top political strategist and frequent spokesman for Sanders, while Longabaugh was a senior adviser and Mulvey was creative director for the ad campaigns. Many of the firm’s 2016 ads drew wide notice and critical acclaim during the campaign.

“We are grateful for the opportunity to have worked for Senator Sanders in his historic 2016 campaign for president,” the strategists said in their statement.

According to Federal Election Commission records, the Sanders campaign paid the firm about $5.3 million during the 2016 cycle for its services.

“The campaign appreciates all the good work DML has done and wishes them well,” Sanders’ new campaign manager, Faiz Shakir, said in a statement, using an acronym for the firm run by the three.

As he launches his second run, Sanders has been under pressure to bring in a more diverse set of advisers than the largely white inner circle that ran his 2016 bid.

Sanders has already proven to be a fundraising juggernaut in the first week of his presidential run. His campaign said on Tuesday he had raised about $10 million from nearly 360,000 donors in the first week.

He will make his first campaign trail appearances this weekend with rallies in Brooklyn, where he was born and raised, and Chicago.

The split comes after Devine drew attention last year for his connections to former Trump campaign Chairman Paul Manafort. Devine worked with Manafort to help elect pro-Russian Victor Yanukovich president of Ukraine in 2010.

Manafort has been convicted of multiple felony counts by Special Counsel Robert Mueller related to his investigation into Russian interference in the 2016 presidential election. Devine testified at Manafort’s trial, but was not accused of wrongdoing.

Russia has denied meddling in the election. Republican President Donald Trump has called Mueller’s investigation a witch hunt.

(Reporting by John Whitesides; editing by Jonathan Oatis)

Source: OANN

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Satellite images may show reprocessing activity at North Korea nuclear site: think tank

FILE PHOTO: A Picture and its Story: North Korea on parade
FILE PHOTO: Intercontinental ballistic missiles (ICBM) are driven past the stand with North Korean leader Kim Jong Un and other high ranking officials during a military parade marking the 105th birth anniversary of country's founding father Kim Il Sung, in Pyongyang April 15, 2017. REUTERS/Damir Sagolj/File Photo

April 16, 2019

By David Brunnstrom

WASHINGTON (Reuters) – Satellite images from last week show movement at North Korea’s main nuclear site that could be associated with the reprocessing of radioactive material into bomb fuel, a U.S. think tank reported on Tuesday.

Any new reprocessing activity would underscore the failure of a second summit between U.S. President Donald Trump and North Korean leader Kim Jong Un in Hanoi in late February to make progress toward North Korea’s denuclearization.

Washington’s Center for Strategic and International Studies think tank said in a report that satellite imagery of North Korea’s Yongbyon nuclear site from April 12 showed five specialized railcars near its Uranium Enrichment Facility and Radiochemistry Laboratory.

It said their movement could indicate the transfer of radioactive material.

“In the past, these specialized railcars appear to have been associated with the movement of radioactive material or reprocessing campaigns.” the report said. “The current activity, along with their configurations, does not rule out their possible involvement in such activity, either before or after a reprocessing campaign.”

Jenny Town, a North Korea expert at the Stimson Center think tank, said that if reprocessing was taking place, it would be a significant development given U.S.-North Korean talks in the past year and the failure to reach an agreement on the future of Yongbyon in Hanoi.

“Because there wasn’t an agreement with North Korea on Yongbyon, it would be interesting timing if they were to have started something so quickly after Hanoi,” she said.

Trump has met Kim twice in the past year to try to persuade him to abandon a nuclear weapons program that threatens the United States, but progress so far has been scant.

The Hanoi talks collapsed after Trump proposed a “big deal” in which sanctions on North Korea would be lifted if it handed over all its nuclear weapons and fissile material to the United States. He rejected partial denuclearization steps offered by Kim, which included an offer to dismantle Yongbyon.

Although Kim has maintained a freeze in missile and nuclear tests since 2017, U.S. officials say North Korea has continued to produce fissile material that can be processed for use in bombs.

Last month, a senior North Korean official warned that Kim might rethink the test freeze unless Washington made concessions.

Last week, Kim said the Hanoi breakdown raised the risks of reviving tensions, adding that he was only interested in meeting Trump again if the United States came with the right attitude.

Kim said he would wait “till the end of this year” for the United States to decide to be more flexible. On Monday, Trump and his Secretary of State Mike Pompeo brushed aside this demand with Pompeo saying Kim should keep his promise to give up his nuclear weapons before then.

Town said any new reprocessing work at Yongbyon would emphasize the importance of the facility in North Korea’s nuclear program.

“It would underscore that it is an active facility that does increase North Korea’s fissile material stocks to increase its arsenal.”

A study by Stanford University’s Center for International Security and Cooperation released ahead of the Hanoi summit said North Korea had continued to produce bomb fuel in 2018 and may have produced enough in the past year to add as many as seven nuclear weapons to its arsenal.

Experts have estimated the size of North Korea’s nuclear arsenal at anywhere between 20 and 60 warheads.

(Reporting by David Brunnstrom; Editing by Tom Brown)

Source: OANN

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Confirmed with U.S. trade talks to be based on September statement: Japan economy minister

FILE PHOTO: Japan's Minister of Economic Revitalization Toshimitsu Motegi speaks during the signing agreement ceremony for the Trans-Pacific Partnership (TPP) trade deal, in Santiago
FILE PHOTO: Japan's Minister of Economic Revitalization Toshimitsu Motegi speaks during the signing agreement ceremony for the Trans-Pacific Partnership (TPP) trade deal, in Santiago, Chile March 8, 2018. REUTERS/Rodrigo Garrido/File Photo

April 16, 2019

WASHINGTON (Reuters) – Japanese Economy Minister Toshimitsu Motegi said on Monday that he had confirmed with U.S. Trade Representative Robert Lighthizer that new bilateral trade talks would proceed based on the two nations’ joint statement issued last September.

Speaking to reporters in Washington, D.C., Motegi said he had a “frank and good exchange” with Lighthizer. The two would meet again on Tuesday, after which Motegi said he would explain the contents of their talks.

(Reporting by David Lawder in Washington, writing by Kaori Kaneko in Tokyo; Editing by Chang-Ran Kim)

Source: OANN

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Nike fines $14 million for blocking cross-border sales of soccer merchandise

The Nike swoosh logo is seen outside the store on 5th Ave in New York
The Nike swoosh logo is seen outside the store on 5th Ave in New York, New York, U.S., March 19, 2019. REUTERS/Carlo Allegri

March 25, 2019

BRUSSELS (Reuters) – EU antitrust regulators fined U.S. sportswear maker Nike 12.5 million euros ($14.14 million) on Monday for restricting cross-border sales of merchandising products of five European football clubs and the a football federation.

The European Commission said Nike’s illegal practices occurred between 2004 to 2017 and related to licensed merchandise for FC Barcelona, Manchester United, Juventus, Inter Milan, AS Roma and the French Football Federation.

The sanction came following a two-year investigation triggered by a sector inquiry into e-commerce and bans by some retailers on cross-border sales of some products.

($1 = 0.8839 euros)

(Reporting by Foo Yun Chee)

Source: OANN

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Mexico seeks solution for tomato trade with United States

FILE PHOTO: Graciela Marquez, picked by Mexico's President-Elect Lopez Obrador as Economy Minister, takes part in a news conference in Mexico City
FILE PHOTO: Graciela Marquez, picked by Mexico's President-Elect Lopez Obrador as Economy Minister, takes part in a news conference in Mexico City, Mexico October 1, 2018. REUTERS/Edgard Garrido

March 27, 2019

MEXICO CITY (Reuters) – Mexican Economy Minister Graciela Marquez said on Wednesday she had spoken with U.S. Commerce Secretary Wilbur Ross about the U.S.-Mexico trade relationship.

Marquez and Ross discussed finding a solution for the bilateral trade of tomatoes, the Mexican official wrote in a post on Twitter.

(Reporting by Sharay Angulo; Writing by Anthony Esposito; editing by Julia Love and Tom Brown)

Source: OANN

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France preparing to fight activist funds: finance minister

FILE PHOTO: French Finance and Economy Minister Bruno Le Maire speaks to media after a meeting with his Swedish counterpart in Stockholm
FILE PHOTO: French Finance and Economy Minister Bruno Le Maire speaks to media after a meeting with his Swedish counterpart in Stockholm, Sweden February 4, 2019. Naina Helen Jama/TT News Agency/via REUTERS/File Photo

April 5, 2019

BUCHAREST (Reuters) – The French government is preparing measures to prevent activist funds destabilizing French companies, the country’s finance minister told Reuters in an interview.

Activist funds are increasingly active in Europe, buying up stakes in companies they feel are underperforming and pushing for changes in strategy to extract more value for shareholders.

The practice has been common in the U.S. for many years but slower to take off in Europe as big stakes held by founding families or even the state proved a deterrent.

In France, New York hedge fund Elliott Management is currently piling pressure on drinks giant Pernod Ricard, CIAM is tussling with reinsurer Scor, Amber Capital has acquired a stake in Lagardere and Searchlight Capital Partners said earlier this week it was investing in aeronautics company Latecoere.

“I am thinking about new national instruments that would make it possible to better resist activist funds,” Finance Minister Bruno Le Maire told Reuters in Bucharest, where he was attending an EU finance ministers meeting.

The plan would make it possible for the state to invest in companies it deemed to be of national interest, he said, declining to give further details other than saying the proposals would be ready in the coming months.

“It’s a subject I follow very closely because an activist fund that destroys value does not conform with the new capitalism I want to build,” he added.

Le Maire has championed an overhaul of French corporate law encouraging long-term investment and employee profit-sharing schemes. Parliament is due to vote on the legislation next week.

Le Maire said there was a place for investment funds which helped improve a company’s performance, but activist funds that destroyed longer-term value by trying to boost short-term profitability “should be fought”.

Elliott’s campaign to improve profit margins and corporate governance at Pernod has fueled concerns that no company is immune.

Not only does the group’s founding family hold a large stake, it is generally considered to be well managed already.

Last month, France’s Bpifrance pubic investment bank said it had 2 billion euros available to fend off potential activist attacks on French firms if needed.

Through the bank, the French government last week increased its stake in car parts maker Valeo, which has previously been targeted by activist investors.

Valeo also currently counts among its shareholders Chicago-based activist Harris Associates, which after Bpifrance’s move said it supported management.

(Reporting by Leigh Thomas; Editing by Kirsten Donovan)

Source: OANN

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India Joining International Gold Rush

The Reserve Bank of India has jumped on the gold bandwagon.

Since December 2017, the Indian central bank has added 50.4 tons of gold to its reserves.

India bought 8.2 tons of gold in January and February of this year and analysts project that pace to pick up. Economist Howie Lee told Bloomberg he expects the RSB to add as much as 1.5 million ounces of gold to its reserves in 2019. That comes to about 46.7 tons.

India’s gold reserves currently stand at a record high of almost 609 tons, according to data from the IMF.

Indians traditionally have a strong affinity for gold. While Americans generally think of gold as a luxury item, many Indians view it as a necessity. In the Asian nation, buying gold is not just for the rich. In fact, a recent survey shows that possessing the yellow metal is a universal phenomenon across all income classes in India. But the Indian central bank hasn’t added a significant amount of gold to its reserves since 2009. That year, the RBI bought 200 tons of gold from the IMF.


Gerald Celente breaks down what’s ahead as the Federal Reserve crashes the debt & real estate bubble it created worldwide.

Why have Indians suddenly turned to gold? According to an article at The Hindu BusinessLine, the motivation is much the same as in countries like Russia and China. The Indians want to minimize exposure to the US dollar.

“There is a definite pattern apparent in the countries that are leading this central bank gold hunt. Countries with a strong anti-American sentiment, that wish to reduce their dependence on the US dollar, top the list of nations that have been adding gold to their forex reserves in the last few years.”

Through the first quarter of this year, Russia has increased its gold hoard by 56 tons. This continued a 2018 trend. Russia has been endeavoring to reduce its exposure to the dollar over the last several years by buying gold and selling off US Treasurys. Russian gold reserves increased 274.3 tons in 2018, marking the fourth consecutive year of plus-200 ton growth. In February 2018, Russia passed China to become the world’s fifth-largest gold-holding country. Over the last decade, Russia has quadrupled its bullion reserves.

(Photo by Ben Stassen, Flickr)

The Central Bank of China has also been adding to its official gold reserves over the last several months. China bought gold for the fourth straight month in March, adding another 11.2 tons of the yellow metal to its reserves.

In total, the world’s central banks accumulated 651.5 tons of gold last year. The World Gold Council noted that 2018 ranked as the highest level of annual net central bank gold purchases since the suspension of dollar convertibility into gold in 1971, and the second highest annual total on record. That trend appears to have continued into 2019 with central banks globally adding 90 tons of gold in the first two months of this year.

According to The Hindu BusinessLine, US policy and growing wariness of the dollar has also motivated India to jump on the gold bandwagon.

“It is obvious that the trade war unleashed by the US has made emerging economies, including India, nervous about future policies of the US government. The clear anti-globalization stand taken by the current US government, and the scant respect displayed for policies that promote peace and inclusive growth have made it imperative to reduce dependence on the US currency; that can turn volatile in tandem with the policies of the government. The mounting debt in the US and unbridled printing of notes for successive quantitative easing programmes since 2009 have also eroded the intrinsic worth of the dollar significantly.”

As The Hindu BusinessLine article points out, individual investors should take note of these central banks buying gold.

“It signals that gold retains its position as a premier store of value. An asset that is a store of value is one which is expected to retain its purchasing power in the future.”


On his way to bullhorn the White House, Alex Jones bumped into Max Keiser.

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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