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Trump: McCabe Has Made 'Fool Out of Himself'

Former FBI Deputy Director Andrew McCabe has made "a fool out of himself" over the past few days sharing guarded and private processes on national television, President Donald Trump told reporters Wednesday.

"He really looks to me like a poor man's J. Edgar Hoover," added the president.

McCabe on Sunday during a bombshell interview with CBS's "60 Minutes" said he started the obstruction of justice and counterintelligence investigations involving Trump and his ties to Russia because he wanted to ensure the probe was on "solid ground" in case he was fired. He took the action following James Comey's firing.

"I was speaking to the man who had just run for the presidency and won the election for the presidency and who might have done so with the aid of the government of Russia, our most formidable adversary on the world stage," McCabe said. "And that was something that troubled me greatly."

McCabe, who was fired after an inspector general report found he lied to FBI agents and Comey about his decision to authorize a leak to the news media, also asserted in his interview it is possible Trump is a Russian agent.

"What he was trying to do was terrible," Trump said. "He was caught. I'm very proud to say we caught him. So, we'll see what happens. But he is a disgraced man. He was terminated, not by me. He was terminated by others."

Source: NewsMax America

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DowDuPont completes spin-off of materials science unit

FILE PHOTO: A screen displays the trading information for chemical producer DowDuPont Inc. on the floor at the NYSE in New York
FILE PHOTO: A screen displays the trading information for chemical producer DowDuPont Inc. on the floor at the New York Stock Exchange (NYSE) in New York, U.S., March 20, 2019. REUTERS/Brendan McDermid/File Photo

April 1, 2019

(Reuters) – DowDuPont Inc said on Monday it had completed the spin-off of its materials science division as part of a plan to split the chemical producer into three separate units.

Shares of the new division, Dow, will begin trading on the New York Stock Exchange on Tuesday.

Dow and Dupont completed a $130 billion merger in 2017 to form DowDuPont and had outlined a plan to create three separately traded companies focusing on agriculture, plastics and specialty products.

Corteva, the agriculture unit, is set to separate from the new specialty chemical maker DuPont on June 1.

(Reporting by John Benny in Bengaluru; Editing by James Emmanuel)

Source: OANN

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Driver working with NBC News killed in Syria

The president of NBC News says a driver working with its reporters in Syria was killed by an explosive device.

Noah Oppenheim said in a statement Sunday that NBC employees escaped unharmed, and expressed "deepest sympathies" to the driver's family and loved ones. Oppenheim says "we are still gathering information from today's events, and are in touch with the driver's family to support them however we can." The statement did not say where Saturday's explosion occurred.

Several media outlets are in eastern Syria to cover the liberation of the last sliver of land held by the Islamic State group. The U.S.-backed Syrian Democratic Forces declared military victory over IS on Saturday.

IS left behind booby-traps and explosive devices, and there may be unexploded munitions in the area following U.S.-led airstrikes.

Source: Fox News World

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US Debt Unsustainable

Month after month, the Trump administration runs multi-billion dollar deficits. The national debt has ballooned to over $22 trillion. According to the most recent Treasury Report, the US has a net worth of negative $21.5 trillion. And this understates the problem.

As Wolf Richter of WolfStreet puts it, the US government has “debt out the wazoo.”

Is this sustainable?

In a recent WolfStreet report, Wolf analyzes the debt, who is buying it and why.

Wolf points out that few countries are in worse fiscal shape than the US. America is in the same situation as countries like Japan, Greece and Italy.

The US and Japan have one advantage over Greece, Italy and some other nations because they control their own currency. That means their central banks can simply print money to buy government debt.

The Bank of Japan continues to monetize its government’s debt, but over the last year, the Federal Reserve has not been buying US Treasurys. This may change soon with the end of the Fed’s balance sheet reduction program, but currently, the central bank is not propping up America’s spending binge. So, who is buying all of this debt?

And why?

Foreign investors hold $6.4 trillion in US Treasury debt. China and Japan rank as the largest foreign holders.

The Fed holds about $2.1 trillion in US debt.

US investors and institutions hold about 7.7 trillion – by far the largest category.

US government entities, such as pension funds and the Social Security Trust Fund hold nearly $6 trillion in Treasurys. Some argue this is money “we owe ourselves” so it cancels out. Wolf called this baloney.

“This money is owed to those beneficiaries and it doesn’t cancel out. It is a real debt that the US government owes and it has to pay.”

China’s holdings of US Treasurys are down about $46 billion from a year ago. In total, China and Japan’s combined hold about 10% of US debt. That’s down from a little over 11% in 2017.

Over the last 12 months, foreign investors added about $164 billion in US debt as the Federal Reserve shed around $250 billion. US government entities added $160 billion in Treasury holdings. That totals a net increase of $45 billion.

That means that US investors have taken on the bulk of US government debt – in the neighborhood of $1.2 trillion over the last 12 months.

Wolf points out that banks are aggressively trying to attract depositors and are competing with the federal government which has to fund its deficits. With interest rates so low, US bonds are actually an attractive place to stash cash.

“Two-point-four percent 20 years ago would have been a ludicrously low amount of interest to be attractive, but these days are not normal and 2.4% is a fairly attractive number.”

(Photo by Tyler Merbler / Flickr)

On top of that, there is a great deal of dividend risk in the stock market with so many companies overvalued. Wolf points to GE as one example of a company that has slashed dividends to close to zero.

Wolf says that the trillions of dollars of additional Treasurys the US government is throwing on the market just doesn’t seem to matter to US investors – at least at this moment.

The $64,000 question is how long can this last?

It doesn’t seem like a sustainable scenario. Right now, things appear pretty rosy. It’s a primrose path of debt, that while perhaps troubling on a theoretical level, isn’t really having any actual impact on the economy. But it seems likely at some point the oversupply of Treasurys will begin to swamp demand. When that happens, the US government will have a real problem.

Who will take up the slack?

If you look at who owns US debt, there is really only one viable option – the Federal Reserve. Practically speaking, this means more quantitative easing.

If demand for Treasurys starts to fall, that will push interest rates higher. This is a simple supply and demand function. The Fed will then face two choices.

  1. Intervene with interest rates cuts and more QE. In other words more inflation.
  2. Do nothing and let interest rates spike.

No. 2 would not bode well for an economy built on debt. The Sovereign Man summed up the implications.

“Make no mistake: higher interest rates will have an enormous impact on just about EVERYTHING. Many major asset prices tend to fall when interest rates rise. Rising rates mean that it costs more money for companies to borrow, reducing their leverage and overall profitability. So stock prices typically fall. It’s also important to note that, over the last several years when interest rates were basically ZERO, companies borrowed vast sums of money at almost no cost to buy back their own stock. They were essentially using record low-interest rates to artificially inflate their share prices. Those days are rapidly coming to an end.”

The bottom line is that the US federal government is on an unsustainable path.


Patrick Casey, head of the American Identity Movement, joins Owen Shroyer live via Skype to discuss how his team planned and executed their infiltration into a drag queen story time event.

Source: InfoWars

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Video released of suspect in 2017 killings of Indiana girls

Authorities released video Monday of a man suspected of killing two Indiana teenagers two years ago and urged the public to scrutinize the footage, which shows the man walking on an abandoned railroad bridge the girls visited while out hiking the day they were slain.

The Indiana State Police also released a new sketch of the suspect, which State Police Superintendent Doug Carter said was produced thanks to "new information and intelligence" collected during the investigation into the killings of 14-year-old Liberty German and 13-year-old Abigail Williams. During a briefing in the girls' hometown of Delphi, he said that a composite sketch that was previously released based on accounts from eyewitnesses who believe they saw the man is now secondary to the new sketch.

Carter said investigators believe the man is between the ages of 18 and 40, and that he either lives or lived in Delphi or regularly visits or works in the area. He vowed that police will solve the case and, during the briefing, he addressed the suspect directly.

"We believe you are hiding in plain sight. For more than two years, you never thought we would shift gears to a different investigative strategy, but we have," he said.

The video of the suspect and additional audio that was also released Monday came from German's cellphone. Authorities have hailed her as a hero for recording potentially crucial evidence before she was killed.

Carter urged the public to pay close attention to the mannerisms of the man in the video, which shows him walking across an abandoned railroad bridge near Delphi, which is about 60 miles (95 kilometers) northwest of Indianapolis.

"Do you recognize the mannerisms as being someone you might know? And remember, he is walking on the former railroad bridge, and because of the deteriorated condition of the bridge the suspect is not walking naturally, due to the spacing between the ties," he said.

The girls' bodies were found in a rugged, wooded area the day after they went hiking during a day off of school.

Within days of the killings, investigators released two grainy photos of a suspect walking on the bridge and an audio recording of a man believed to be him saying "down the hill."

The audio clip released Monday includes that same audio but is longer and captures the suspect saying, "Guys, down the hill," said Sgt. Kim Riley with the State Police.

Investigators have reviewed thousands of leads looking for the man, but no arrest warrants have been issued and no arrests have been made.

___

Follow Rick Callahan on Twitter: https://twitter.com/

Source: Fox News National

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Ohio ‘heartbeat’ abortion ban passes Senate as governor vows to sign it

The Republican-led Ohio Senate passed the so-called ‘heartbeat’ bill Wednesday that would ban abortions once a fetal heartbeat is detected, which can be as early as six weeks into pregnancy.

It would be among the most restrictive abortion measures in the country. Critics of the bill claim many women do not know they are pregnant at the six-week mark.

The 19-13 vote sends Senate Bill 23 to the Republican-controlled House. GOP Gov. Mike DeWine has indicated he’d sign the ban into law.

The bill's sponsor, State Sen. Kristina Roegner, said using the existence of a fetal heartbeat as the defining line is clearer than determining the fate of a fetus based on its growth outside the womb, a marker established in court precedent. Roegner said viability can vary depending on the technology available and the medical care.

"[Viability] is a moving target, and we need a new standard," she said. "The heartbeat bill provides a sensible solution."

'HEARTBEAT' BILLS GAINING MOMENTUM IN SEVERAL STATES, INCLUDING KENTUCKY AND MISSISSIPPI 

Similar measures approved by lawmakers were vetoed twice before by DeWine's predecessor, Republican John Kasich. He said such a law would create a costly court battle and likely be found unconstitutional.

Senate Bill 23

Senate Bill 23

OHIO'S NEW GOVERNOR SAYS HE'LL SIGN 'HEARTBEAT' ABORTION BILL THAT KASICH VETOED

In its current form, the bill includes an exemption if a mother’s life is at risk. Critics say it provides no exemptions for victims of rape or incest.

The legislation's passage in the Senate continued a celebratory week for abortion opponents in Ohio, where a divided federal appeals court upheld a state law Tuesday that blocked public money for Planned Parenthood

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A handful of other states are considering legislation to restrict abortions once a fetal heartbeat can be detected.

The Associated Press contributed to this report. 

Source: Fox News Politics

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Raising begins of Norway frigate that sank after collision

The operation has begun to raise a Norwegian naval frigate that sank last year in a harbor north of Bergen following a collision with an oil tanker.

Anders Penna of the salvage company in charge of raising the KNM Helge Ingstad says it is "very complex and demanding operation," adding it could take up to six days.

Penna says the plan is to put the frigate on a barge and transport it to a navy base where the damage will be assessed.

Two giant cranes on Tuesday began raising the 134-meter (442-foot) vessel that collided Nov. 8 with Maltese-flagged oil tanker Sola TS, tearing a large hole in the frigate's side.

The cause of the accident has not yet been established. No one was injured.

Source: Fox News World

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Cambodian authorities have ordered a one-hour reduction in the length of school days because of concerns that students and teachers may fall ill from a prolonged heat wave.

Education Minister Hang Chuon Naron said in an announcement seen Friday that the shortened hours will remain in effect until the rainy season starts, which usually occurs in May. The current heat wave, in which temperatures are regularly reaching as high as 41 Celsius (106 Fahrenheit), is one of the longest in memory.

Most schools in Cambodia lack air conditioning, prompting concern that temperatures inside classrooms could rise to unhealthy levels.

School authorities were instructed to watch for symptoms of heat stroke and urge pupils to drink more water.

The new hours cut 30 minutes off the beginning of the school day and 30 minutes off the end.

School authorities instituted a similar measure in 2016.

Source: Fox News World

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Explosions have rocked Britain’s largest steel plant, injuring two people and shaking nearby homes.

South Wales Police say the incident at the Tata Steel plant in Port Talbot was reported at about 3:35 a.m. Friday (22:35 EDT Thursday). The explosions touched off small fires, which are under control. Two workers suffered minor injuries and all staff members have been accounted for.

Police say early indications are that the explosions were caused by a train used to carry molten metal into the plant. Tata Steel says its personnel are working with emergency services at the scene.

Local lawmaker Stephen Kinnock says the incident raises concerns about safety.

He tweeted: “It could have been a lot worse … @TataSteelEurope must conduct a full review, to improve safety.”

Source: Fox News World

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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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At least one person is reported dead and homes have been destroyed by a powerful cyclone that struck northern Mozambique and continues to dump rain on the region, with the United Nations warning of “massive flooding.”

Cyclone Kenneth arrived just six weeks after Cyclone Idai tore into central Mozambique, killing more than 600 people and displacing scores of thousands. The U.N. says this is the first time in known history that the southern African nation has been hit by two cyclones in one season.

Forecasters say the new cyclone made landfall Thursday night in a part of Mozambique that has not seen such a storm in at least 60 years.

Mozambique’s local emergency operations center says a woman in the city of Pemba was killed by a falling tree.

Source: Fox News World

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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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