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Israeli spacecraft crashes in attempt to reach moon

An Israeli spacecraft lost contact with Earth and crashed just moments before it was to land on the moon late Thursday, failing in an ambitious attempt to make history as the first privately funded lunar mission.

The spacecraft lost communication with ground control as it was making its final descent to the moon. Moments later, the mission was declared a failure.

"We definitely crashed on surface of moon," said Opher Doron, general manager of the space division of Israel Aerospace Industries. He said the spacecraft was in pieces scattered at the planned landing site.

Doron said that the spacecraft's engine turned off shortly before landing. By the time power was restored, he said the craft was moving too fast to land safely. Scientists were still trying to figure out the cause of the failure.

"One of the inertial measurement units failed. And that caused an unfortunate chain of events we're not sure about," he said. "The engine was turned off. The engine was stopped and the spacecraft crashed. That's all we know."

The mishap occurred in front of a packed audience that included Prime Minister Benjamin Netanyahu and was broadcast live on national television.

The small robotic spacecraft, built by the non-profit SpaceIL and state-owned Israel Aerospace Industries, had hoped to match a feat that has only been achieved by the national space agencies of three countries: U.S., Russia and China.

"If at first you don't succeed, try try again," Netanyahu said. He vowed to put an Israeli spacecraft on the moon "intact" in the next two years.

Scientists, who were giddy with excitement only second earlier, were visibly distraught, and celebrations at viewing centers across the country were dashed.

President Reuven Rivlin hosted dozens of youngsters at his official residence. The children, some wearing white spacesuits, appeared confused as the crash unfolded.

"We are full of admiration for the wonderful people who brought the spacecraft to the moon," Rivlin said. "True, not as we had hoped, but we will succeed in the end."

The failure was a disappointing ending to a 6.5 million kilometer (4 million mile) lunar voyage, almost unprecedented in length, that was designed to conserve fuel and reduce price.

The spacecraft hitched a ride on the SpaceX Falcon rocket, launched from Florida in February.

For the past two months, Beresheet traveled around the Earth several times before entering lunar orbit in hopes of joining the exclusive club of countries that have made it to the moon.

The U.S. space agency NASA broadcast the landing attempt live on its dedicated TV channels, as well as online.

While NASA regrets the end of the SpaceIL mission without a successful lunar landing of the Beresheet lander, we congratulate SpaceIL, the Israel Aerospace Industries and the state of Israel on the incredible accomplishment of sending the first privately funded mission into lunar orbit," said NASA Administrator Jim Bridenstine.

"Every attempt to reach new milestones holds opportunities for us to learn, adjust and progress," he added. "I have no doubt that Israel and SpaceIL will continue to explore and I look forward to celebrating their future achievements."

Source: Fox News World

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Colorado sheriffs who won't enforce anti-gun 'red flag' law should 'resign,' state AG says

Colorado's attorney general testified said week that country sheriffs vowing not to enforce the state's proposed anti-gun "red flag" bill should "resign" -- a challenge that threatened to ramp up tensions between state officials and local leaders who were already creating droves of so-called Second Amendment "sanctuary counties" to resist the legislation.

Democrat Phil Weiser made the remarks, which were first reported by The Colorado Sun, while testifying before a state committee on Friday. Weiser has said that the red flag legislation, which would permit a court to the seizure of weapons from people determined to be a threat to others or themselves, would save lives, particularly in domestic violence situations.

“If a sheriff cannot follow the law, the sheriff cannot do his or her job,” Weiser said. “The right thing to do for a sheriff who says, ‘I can’t follow the law’ is to resign.”

Phil Weiser, seen here in October 2018, said sheriffs unwilling to enforce Colorado's "red flag" bill should resign.

Phil Weiser, seen here in October 2018, said sheriffs unwilling to enforce Colorado's "red flag" bill should resign. (AP Photo/David Zalubowski, File)

The proposed state law, House Bill 1177, is expected to secure passage in the Colorado legislature and be approved by the state's Democrat governor, Jared Polis. It says petitioners, under oath, must establish by a "preponderance of the evidence" -- a relatively lax legal standard essentially meaning that something is "more likely than not" -- that a person "poses a significant risk to self or others by having a firearm in his or her custody or control or by possessing, purchasing or receiving a firearm."

An emergency hearing must then be held within 24 hours, and if an "extreme risk protection order" (ERPO) is issued by a judge, an individual will be barred from "possessing, controlling, purchasing or receiving a firearm for 364 days," and must "surrender all of his or her firearms and his or her concealed carry permit."

CALIFORNIA'S GUN SEIZURE PROGRAM HITS HURDLES

Defendants can successfully override the ERPO only by establishing by "clear and convincing evidence" -- a legal standard even more strict than guilt beyond a reasonable doubt -- "that he or she no longer poses a significant risk of causing personal injury to self or others."

“Because ERPO will be constitutionally upheld, every sheriff will be required and, I believe, will follow through to uphold an act under that law," Weiser told the state Senate panel.

Several other states are considering similar red flag laws, and counties in states as far apart as New Mexico and Illinois have responded by creating Second Amendment sanctuaries, leading to court challenges. But Weiser's comments were perhaps the most direct repudiation by state officials of local leaders who have resisted their gun control efforts.

Similar red flag laws have passed since 2018 in Delaware, Florida, Illinois, Massachusetts, New Jersey, New York, Rhode Island and Vermont. Connecticut, California, Indiana, Oregon and Washington had versions of red flag laws prior to the mass shooting at Marjory Stoneman Douglas High School in Parkland, Fla., in February 2018.

Weiser did not respond to Fox News' request for clarification on his remarks.

A man wears a patriotic-themed cowboy hat during a pro gun-rights rally at the state capitol, Saturday, April 14, 2018, in Austin, Texas. Gun rights supporters rallied across the United States to counter a recent wave of student-led protests against gun violence. (AP Photo/Eric Gay)

A man wears a patriotic-themed cowboy hat during a pro gun-rights rally at the state capitol, Saturday, April 14, 2018, in Austin, Texas. Gun rights supporters rallied across the United States to counter a recent wave of student-led protests against gun violence. (AP Photo/Eric Gay) (AP Photo/Eric Gay)

Conservatives have said Colorado's legislation should focus more on providing mental health services, and they warn that the bill would only discourage distressed individuals from seeking help. Legislators, critics say, should focus instead on expanding and improving the state's existing provisions for 72-hour mental health holds.

"The criteria for a 72-hour hold is you are a danger to yourself and others,” Assistant State Senate Minority Leader John Cooke, a Republican and former sheriff, told The Colorado Times. “Well, that’s what this bill is saying, too — to come in and take your guns. But the problem is you leave the person at the house. It’s gun confiscation, and it’s really short on mental health. So, if you’re going to take the gun, you ought to take the person instead if they are that dangerous.”

Weld County Sheriff Steve Reams told Fox News that Weiser, effectively, could take a hike.

NRA'S DANA LOESCH RIPS CNN'S AWARD FOR TOWN HALL IN WHICH SHE WAS HECKLED, RUBIO WAS COMPARED TO SERIAL KILLER

“If you pass an unconstitutional law, our oaths as commissioners or myself as the sheriff — we’re going to follow our constitutional oath first,” Reams, whose county commissioners recently voted to become a Second Amendment "sanctuary," told Fox News. “And we’ll do that balancing act on our own.”

On Wednesday afternoon, commissioners in Logan County, Colo., became the latest officials to pass such a sanctuary measure. The vote among commissioners was unanimous.

"It's time we quit trying to put lipstick on a pig and start funding our mental health facilities, instead of trying to take the rights from our people," Logan County Sheriff Brett Powell said in public remarks prior to the vote.

He added that law enforcement searches are traditionally only acceptable during criminal investigations.

"In Colorado, it's not a crime to harm yourself," Powell said.

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According to a list compiled by Rally for Our Rights, a nonprofit, 22 Colorado counties have become "Second Amendment sanctuaries" in the last month, including El Paso County, among the state's largest.

El Paso last week vowed to fight the Colorado measure in court if needed, and pledged not to “appropriate funds, resources, employees, or agencies to initiate unconstitutional seizures in unincorporated El Paso County." The country affirmed its "support for the duly elected Sheriff of El Paso County, Colorado and collaborate with the Sheriff to refuse to initiate unconstitutional actions against citizens."

El Paso Commissioner Stan VanderWerf called on the state's Democrat leaders to change course.

“I would ask Governor Polis to refuse to sign it,” VanderWerf said, “because of the unconstitutionality of the bill as presently written. No governor or senate should willfully sign into law or pass legislation that are violations of a set of documents that protect our rights.”

Source: Fox News Politics

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IKEA to test furniture rental in 30 markets

People walk past an IKEA kitchen showroom downtown Stockholm
People walk past an IKEA kitchen showroom downtown Stockholm, Sweden April 17, 2018. Picture taken April 17, 2018. REUTERS/Anna Ringstrom

April 3, 2019

KAARST, Germany (Reuters) – IKEA will expand tests to allow customers to rent desks and sofas rather than buy them as it shifts away from selling low-cost disposable furniture in response to growing environmental concerns.

The world’s biggest furniture group first said it was looking into furniture leasing in February. It fleshed out its plans on Wednesday at an event held at its first ‘sustainable’ store in Kaarst, western Germany, opened in 2017.

“Testing out opportunities for leasing offers is one of the ways we are challenging ourselves to deliver on our transformation strategy,” said Jesper Brodin, chief executive of Ingka Group, which owns most IKEA stores.

“Climate change and unsustainable consumption are among the biggest challenges we face in society.”

IKEA’s move toward supporting a more circular economy comes as many young consumers say they want to minimize their impact on the environment, preferring to rent items ranging from clothing to cars.

Its business model has already come under pressure from the rise of online retail and a growing reluctance among younger shoppers to travel to its vast out-of-town stores, get the flat-pack furniture home and assemble it themselves.

Rent the Runway, which has previously only rented out designer apparel and accessories, said last month it will partner with Williams-Sonoma Inc’s West Elm brand to allow subscribers to rent home decor.

IKEA, which had global sales of 39 billion euros ($44 billion) last year, said it wants to develop subscription-based leasing offers to encourage products to be reused as many times as possible before being recycled.

It had already committed to make all its products from renewable and recycled materials by 2030 and also to design all its products to be reused, repaired and recycled. In 2018 it handled 1 million orders for spare parts to repair products.

IKEA has already started testing different furniture rental projects in the Netherlands, Sweden, Switzerland and Poland, and aims to expand the tests to all its 30 markets next year.

In Sweden and Switzerland, it is looking into providing furniture to companies on a subscription model, while in the Netherlands it is testing a rental package for students in cooperation with a housing association.

(Reporting by Emma Thomasson; Editing by Jan Harvey)

Source: OANN

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French police experts start Notre Dame checks after fire

French police scientists and other expert investigators are starting to examine Notre Dame Cathedral for the first time since last week's devastating fire.

A police official said teams from three different police agencies are entering the monument Thursday to take samples and search for clues as to what caused the fire. Police made a preliminary visit last week but weren't able to conduct a thorough examination until the cathedral's structure was secured.

Officials believe the fire was possibly caused by a short circuit linked to renovation work underway before the fire. The Paris prosecutor's office says all potential leads are being pursued.

The cathedral will remain closed to the public for years after the fire destroyed its roof and knocked over its spire.

Source: Fox News World

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Credit Suisse lifts profit with surprise equity trading gains

FILE PHOTO: The Credit Suisse logo is pictured on a bank in Geneva
FILE PHOTO: The Credit Suisse logo is pictured on a bank in Geneva, Switzerland, October 17, 2017. REUTERS/Denis Balibouse/File Photo

April 24, 2019

By Brenna Hughes Neghaiwi

ZURICH (Reuters) – Credit Suisse set a positive tone for this quarter’s European bank results on Wednesday, lifting its net profit as gains in equities and deeper ties between trading and private banking helped offset lower revenue.

Switzerland’s second-biggest bank bucked market expectations of a profit dip and said it gained market share in equities trading during a quarter in which major U.S. rivals such as Goldman Sachs and Morgan Stanley saw revenue slides in this business.

Its Global Markets trading unit, the focus of much criticism in recent years, increased equity trading, with Chief Executive Tidjane Thiam saying Credit Suisse was “moving up the ranks in equities”. But a slide in its Asian unit brought overall group revenue from equities sales and trading down by 5 percent.

Wednesday’s results also included a forecast that Credit Suisse was cautiously optimistic about the second quarter.

Although Credit Suisse last year wrapped up a three-year overhaul with its first annual profit since 2014, volatile earnings and high headcount in its trading division meant it faced questions over whether it was downsized enough.

“Global Markets has been the main cause of consensus earnings downgrades over the past year and with these results has now shown signs of stabilizing,” Citi analysts said.

However, in the first quarter Credit Suisse said the unit increased equity sales and trading by 4 percent, while fixed-income sales and trading fell by just 2 percent, notably less than at U.S. investment banks.

Credit Suisse shares rose by more than 3 percent to a six-month high following the results, in which it confirmed its full-year profitability target but noted it would need supportive markets, and a pickup in revenues, to hit its goals.

Last month Swiss rival UBS forecast first-quarter revenues would fall by about a third in its investment bank and by 9 percent in wealth management, its largest business.

UBS is looking to cut costs further as CEO Sergio Ermotti sounded a pessimistic note on profitability for the year.

Analysts expect first-quarter profit at UBS, which is Switzerland’s biggest bank, to have nearly halved when it reports on Thursday.

(This story corrects net profit figure to 749 million Swiss francs in first bullet point, adds dropped word “group”, paragraph 3)

(Reporting by Brenna Hughes Neghaiwi; Editing by Michael Shields and Alexander Smith)

Source: OANN

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House Judiciary Chairman Subpoenas Former White House Counsel Don McGahn

U.S. House Judiciary Committee Chairman Jerry Nadler on Monday subpoenaed former White House counsel Don McGahn to testify before the panel in its investigation of possible obstruction of justice by President Donald Trump.

In a statement, Nadler said the committee had asked for documents from McGahn by May 7 and for him to testify on May 21. Special Counsel Robert Mueller's report said Trump asked McGahn to fire Mueller.

"Mr. McGahn is a critical witness to many of the alleged instances of obstruction of justice and other misconduct described in the Mueller report," Nadler said.

An attorney for McGahn was not immediately available for comment.

Source: NewsMax Politics

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Rep. Mark Green: ‘It’s time’ for a bipartisan immigration deal, ‘that would be a huge win’

Tennessee Republican Rep. Mark Green said a bipartisan immigration deal would be “a huge win,” adding he thinks “it’s time.”

“I think everybody knows it's a crisis so we have to do something about the border. We have to do something about immigration and if we can put it all together that would be a huge win,” Green, who serves on the House Committee on Homeland Security, said on “America’s Newsroom” Friday.

“I think the Democrats haven't had a win in this cycle. The president is leading. He’s made changes on taxes, regulations. He called it a crisis when it was a crisis, when it began. Now [Obama's Former Homeland Security Secretary] Jeh Johnson is out saying it's a crisis, so the Democrats are wanting perhaps to do something and Leader McConnell knows what’s going on in the Senate, he’s got a read on that so he’s going to take advantage of it and I think it's time.”

REP. FLEISCHMANN CALLS BORDER SCENE 'CRISIS WITH A CAPITAL C'

On Thursday, the Senate’s top Republican and the House’s top Democrat each said that they’re open to tackling the thorny topic of immigration this year.

Senate Majority Leader Mitch McConnell called for bipartisan talks aimed at strengthening asylum laws and addressing border security, issuing a bid for negotiations amid a surge of migrants overwhelming the southern border and President Donald Trump’s continued calls to clamp down on immigration.

"What we need to do is sit down in a serious, adult, bipartisan basis and try to fix the problem, because the problem is pretty obvious," McConnell, R-Ky., said Thursday. "Border security is a part of it, but that doesn't solve the asylum issue, and that can't be solved, I don't think, without some kind of statutory adjustment."

McConnell’s comments came just hours after House Speaker Nancy Pelosi, D-Calif., said she was looking to tackle the issue.

“It’s complicated, but it isn’t hard to do if you have good intentions,” said Pelosi Thursday.

She added, “I’m not giving up on the president on this… I’m always optimistic and this has to happen. It’s inevitable.”

ERIC TRUMP PRAISES BARR TESTIMONY, SAYING SPYING 'DID OCCUR': 'YOU FINALLY HAVE A GROWN UP IN THE ROOM'

“That’s clearly a softening for Speaker Pelosi and maybe that's an olive branch. I certainly hope that we can interpret it as that,” said Green in response to Pelosi’s statements. “Again, Leader McConnell came across and said, ‘Hey there’s something we can do, we can get something done here on immigration. That certainly should create hope for all of us.”

Green added: “Hopefully we can get an agreement on this and it's sort of like playing poker right now. Nobody’s showing their cards. It’s not time. But at some point we're all going to get in here, we’re going to negotiate, we’re going to find some common ground and hopefully get something done on immigration.”

CLICK HERE TO GET THE FOX NEWS APP

When asked if Green would be willing to work with Pelosi on immigration he responded: “I think we've got to fix immigration. Clearly there are things that we're not going to give up on. They've got things they’re not going to give up on. If we can find that sort of middle ground on some issues we can get some of this fixed and I certainly am willing to talk about that.”

The Associated Press contributed to this report.  

Source: Fox News Politics

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

April 26, 2019

By Ryan Woo

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

NEED FOR CASH

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

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

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

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

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

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

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

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

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

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

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

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

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

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

STATE COMPETITION

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

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

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

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

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

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

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

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

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

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

Source: OANN

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

April 26, 2019

By Patricia Weiss and Ludwig Burger

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

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

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

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

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

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

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

Bayer is appealing or plans to appeal the verdicts.

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

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

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

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

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

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

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

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

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

Source: OANN

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

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

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

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

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

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

Source: Fox News World

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

April 26, 2019

By Charlotte Greenfield

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

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

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

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

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

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

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

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

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

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

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

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

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

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

(Reporting by Charlotte Greenfield; Editing by Himani Sarkar)

Source: OANN

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

April 26, 2019

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

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

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

(Reporting by Muvija M in Bengaluru)

Source: OANN

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