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Dems Join AOC Slamming Trump’s ‘Explicit Attack’ on Omar

Rep. Alexandria Ocasio-Cortez, D-N.Y., Friday night called on members of Congress to rebuke President Donald Trump over a video he shared on twitter showing Rep. Ilhan Omar's controversial quote on the 9/11 terrorist interspersed with video of the attacks on New York City.

Omar is quoted in the video saying the Council on American Islamic Relations (CAIR) was founded after 9/11 because "some people did something." CAIR was actually founded in 1994, though its membership spiked after the 9/11 attacks.

"Members of Congress have a duty to respond to the President’s explicit attack today," Ocasio-Cortez wrote on Twitter. "Her life is in danger. For our colleagues to be silent is to be complicit in the outright, dangerous targeting of a member of Congress. We must speak out."

By Saturday, several Democrats, including House Speaker Nancy Pelosi, had spoken out, saying, the president "shouldn't use the painful images of 9/11 for a political attack."

Other comments included:

Sen. Bernie Sanders, I-Vt.:

"Ilhan Omar is a leader with strength and courage. She won't back down to Trump's racism and hate, and neither will we. The disgusting and dangerous attacks against her must end."

Sen. Elizabeth Warren, D-Mass.:

"The President is inciting violence against a sitting Congresswoman—and an entire group of Americans based on their religion. It's disgusting. It's shameful. And any elected leader who refuses to condemn it shares responsibility for it."

Former Democratic Tallahassee Mayor Andrew Gillum:

"There is no rock bottom to @realDonaldTrump. His tweet is out of context, morally & factually dishonest, & threatening @IlhanMN. His dangerous, cowardly behavior behind a keyboard deserves the strongest rebuke from ALL Americans & a suspension, @jack. #SuspendTrumpsAccount"

Rep. Joe Kennedy III, D-Mass.:

"President Trump understands the weight his words carry. His tweet about Congresswoman Ilhan Omar puts her life & her family’s lives at risk. Our outrage should be nonpartisan. That it’s not will only give him license to continue to incite violence."

Sen. Mazie Hirono, D-Hawaii

".@realDonaldTrump’s unconscionable attack on Rep. @IlhanMN feeds the racist right wing fear of all Muslims. Once again, Trump shows us there is no low to which he won’t sink."

Source: NewsMax Politics

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May heads to EU on Wednesday to push for Brexit breakthrough

FILE PHOTO: Juncker and May discuss Brexit in Brussels
FILE PHOTO: British Prime Minister Theresa May meets with European Commission President Jean-Claude Juncker to discuss Brexit, at the EU headquarters in Brussels, Belgium December 11, 2018. REUTERS/Yves Herman/File Photo

February 19, 2019

By Gabriela Baczynska

BRUSSELS (Reuters) – Prime Minister Theresa May will meet top EU official Jean-Claude Juncker in Brussels on Wednesday, pressing on with efforts to find a way to get their Brexit deal through Britain’s parliament.

A raft of meetings between EU and British officials in recent days has yet to produce a breakthrough after May’s parliament resoundingly defeated the divorce deal she had agreed with the bloc in November.

While May’s spokesman said the meeting was a “significant” part of a process of engagement with the EU, sources said it was far from certain that this week’s meetings would come up with a concrete way to break the impasse in the London parliament.

The main sticking point is the so-called backstop, an insurance policy to prevent the return of extensive checks on the sensitive border between EU member Ireland and the British province of Northern Ireland.

“The EU 27 will not reopen the withdrawal agreement, we cannot accept a time limit to the backstop or a unilateral exit clause,” said Margaritis Schinas, spokesman for the EU’s executive European Commission.

“Further talks will be held this week to see whether a way through can be found that would gain the broadest possible support in the UK parliament and respect the guidelines agreed by the European Council,” he told a regular news briefing.

“We are listening and working with the UK government … for an orderly withdrawal of the UK from the EU on March 29.”

May’s spokesman again said it was the prime minister’s intention to persuade the EU to reopen the divorce deal.

“There is a process of engagement going on. Tomorrow is obviously a significant meeting between the prime minister and President Juncker as part of that process,” the spokesman told reporters.

Britain’s Brexit Secretary Stephen Barclay and Attorney General Geoffrey Cox met the bloc’s chief negotiator Michel Barnier in Brussels on Monday evening and were due back in the EU’s political hub again mid-week.

38 DAYS TO GO

The EU says the backstop is essential for peace on the island of Ireland. Should no better way be found, it would keep the UK in a basic customs union with the bloc to prevent Irish border checks on goods.

But Cox’s legal advice that Britain could find itself trapped in the backstop indefinitely fueled fears among some eurosceptics as that would undercut a key Brexit promise of pursuing an independent global trade policy.

In her phone call last week with German Chancellor Angela Merkel, May stressed the central role of Cox in unlocking parliamentary ratification of the Brexit deal, EU sources said.

Barclay and Cox want to discuss “legal text” with Barnier later this week that would give Britain enough assurances over the backstop, according to British sources.

May has until Feb. 27 to secure EU concessions on the backstop or face another series of Brexit votes in the House of Commons where lawmakers want changes to the withdrawal deal.

The bloc refuses to reopen the already-negotiated legal withdrawal treaty for Britain. EU and UK sources said London could accept other guarantees on the backstop.

The EU has offered to change the accompanying political declaration on new EU-UK ties after Brexit or to produce separate legal assurances or clarifications over the backstop.

But it does not want another effort to sink in Britain’s lower house of parliament and so, 38 days to go, it is still not clear what shape Brexit would take, or whether it would be delayed.

Juncker on Monday gave the EU’s clearest signal yet that London could seek a long delay of its exit date of March 29.

But that would require Britain to organize European Parliament elections on its soil in May, a prospect ruled out on Tuesday by a junior Brexit minister.

The protracted Brexit uncertainty raises the risk of the most-damaging, abrupt split, triggering contingency plans increasingly from governments on both sides, as well as businesses.

(Additional reporting by Jan Strupczewski, Elizabeth Piper in London Writing by Gabriela Baczynska, Editing by Janet Lawrence and Alison Williams)

Source: OANN

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Ohio State DE Bosa to visit Cardinals

FILE PHOTO: NFL: Combine
FILE PHOTO: Mar 3, 2019; Indianapolis, IN, USA; Ohio State defensive lineman Nick Bosa (DL25) goes through workout drills during the 2019 NFL Combine at Lucas Oil Stadium. Mandatory Credit: Brian Spurlock-USA TODAY Sports

April 1, 2019

Ohio State defensive end Nick Bosa is scheduled to visit the Arizona Cardinals, with speculation mounting he could be the No. 1 pick in the 2019 NFL Draft.

Bosa met with team officials in Florida on Friday and is now set for a second sitdown at the team facility. Bosa and the Cardinals have a “top 30” visit scheduled with four weeks remaining until the 2019 draft.

Each NFL franchise is permitted to host 30 prospects at team headquarters.

Bosa will be in Arizona on Thursday night for a Friday visit this week, Sports Illustrated first reported Monday.

The younger brother of Chargers pass rusher Joey Bosa, Nick Bosa missed half of last season with an abdominal injury. He’s working out with his brother in Florida and did not take part in workouts during his pro day.

Hosting Nick Bosa gives the Cardinals the opportunity to gauge his recovery on the field.

He said last week he was intrigued by the possibility of pairing with Cardinals outside linebacker Chandler Jones.

–Field Level Media

Source: OANN

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Ex-CEO tells Lynch trial HP did not need Autonomy at any cost

FILE PHOTO: British entrepreneur Mike Lynch leaves the High Court in London
FILE PHOTO: British entrepreneur Mike Lynch leaves the High Court in London, Britain March 25, 2019. REUTERS/Henry Nicholls/File Photo

April 1, 2019

By Georgina Prodhan and Paul Sandle

LONDON (Reuters) – Hewlett-Packard did not have to buy Britain’s Autonomy to solve the U.S. company’s other problems in 2011, its former chief executive told the $5 billion fraud trial of Mike Lynch.

Lynch is accused of fraudulently inflating the value of Autonomy, which HP bought for $11.1 billion and then wrote down by $8.8 billion a year later. He argues that HP itself, a “vast but floundering company”, botched the acquisition.

Autonomy was a market leader in software for unstructured data, helping companies extract the meaning from emails, video or voice calls, which are hard to analyze in traditional ways.

And Leo Apotheker, architect of the deal and HP’s CEO between November 2010 and September 2011, had sought to boost HP’s languishing profitability by integrating its legacy computer and printer business with higher-margin software.

But the former CEO of Europe’s leading business software group SAP resisted suggestions from Lynch’s defense lawyer in London’s High Court that the acquisition of Autonomy was central to a desperate strategy.

“Unstructured data was at the center of your plans,” Robert Miles QC, acting for Lynch, told Apotheker, who was called as a witness in the case.

“No, that’s not right, it was part of the plan,” Apotheker said, adding that HP had considered buying either Autonomy or German group Software AG in the first half of 2011, but decided on the British firm because it would provide the “technological uplift” that HP wanted.

It was not clear cut, Apotheker said:

“Looking at financial markets, investors, I think they would have preferred Software AG,” he said.

Apotheker who said in his witness statement that he had “never told the due diligence team to prioritize due diligence of Autonomy’s technology over its financials”, also rejected the idea that HP was in crisis.

“But it wasn’t doing well. I was very unhappy with the results but that doesn’t mean the company was about to go under.”

HP is suing Lynch, once hailed as Britain’s answer to Bill Gates, along with his former finance chief Sushovan Hussain for more than $5 billion. Lynch also faces criminal fraud charges in the United States, which carry a maximum term of 20 years. Hussain has been convicted of fraud in a related U.S. case.

ONLY SOFTWARE

At the opening of the case last week, HP’s lawyer Laurence Rabinowitz QC said the U.S. company believed it was buying a fast-growing software firm with no hardware business.

Apotheker recalled that Lynch told him Autonomy was a “very focused” pure software company when they first met in Palo Alton, California, in April 2011.

He said he understood that to mean Autonomy’s strategy was driven by “software and software only”.

HP argues that covertly selling hardware was one of the ways that Autonomy inflated its revenue, while Lynch’s lawyers have said it was commercially justified.

Apotheker was replaced by Meg Whitman, who planned to refocus the company on its core hardware strengths after an outcry from shareholders over the new strategy and a steep decline in HP’s share price.

Hewlett Packard Company in 2015 split into two separate publicly traded companies – HP Inc. and Hewlett Packard Enterprise.

Whitman is expected to be called as a witness later in the trial, while Lynch himself is expected to appear around July.

The case is expected to last until the end of the year.

(Reporting by Georgina Prodhan and Paul Sandle; Editing by Alexander Smith)

Source: OANN

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The Latest: 2nd mosque shooting reported in New Zealand

The Latest on shootings at mosques in New Zealand (all times local):

3:45 p.m.

New Zealand media say a shooting has occurred in a second mosque in the city of Christchurch.

No details were immediately available.

Earlier Friday afternoon, police had urged people to stay indoors as authorities responded to a shooting at the Masjid Al Noor mosque.

A neighbor described mass casualties inside the mosque and said he saw the gunman flee.

___

3 p.m.

A witness says many people have been killed in a mass shooting at a mosque in the New Zealand city of Christchurch.

Police have not described the scale of the Friday shooting but urged people in central Christchurch to stay indoors.

Witness Len Peneha says he saw a man dressed in black enter the Masjid Al Noor mosque and then heard dozens of shots, followed by people running from the mosque in terror.

He says he also saw the gunman flee before emergency services arrived

Peneha says he went into the mosque to try and help: "I saw dead people everywhere."

Source: Fox News World

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Eddie Gallagher case: Republicans call on Navy to review treatment of SEAL being held on war crimes charges

Texas Rep. Dan Crenshaw and 17 other House Republicans sent a letter to the Secretary of the Navy this week urging him to review the pre-trial confinement of Eddie Gallagher amid concerns the decorated Navy SEAL has been receiving limited access to food, medical care and his legal team, Crenshaw's office exclusively told Fox News.

The message comes as Gallagher – accused of killing an injured ISIS prisoner of war in Iraq, amongst other charges – has passed the 6-month mark of detention at Naval Consolidated Brig Miramar in California. He is not expected to emerge until the start of his war crimes trial on May 28.

“Chief Gallagher is a decorated warfighter who, like all service members, is entitled to the presumption of innocence while awaiting court-martial,” the Republicans wrote in their letter to Richard Spencer. “We have received reports that Chief Gallagher’s access to counsel and access to food and medical care may have been restricted. As a result, we respectfully request that you review the Navy policies governing pretrial confinement for Chief Gallagher and other service members to ensure compliance with the Uniform Code of Military Justice.”

NAVY SEAL'S BROTHER, WIFE, SAY 'DIRTY GAMES' BY GOVERNMENT LED TO POSTPONEMENT OF GALLAGHER'S TRIAL

The letter was signed by Crenshaw, Mac Thornberry (Texas), Jim Jordan (Ohio), Kelly Armstrong (N. D.), Jim Banks (Ind.), Paul Cook (Calif.), Louie Gohmert (Texas), Paul Gosar (Ariz.), Jody Hice (Ga.), French Hill (Ark.), Brian Mast (Fla.), Ralph Norman (S.C.), Pete Olson (Texas), Guy Reschenthaler (Pa.), Austin Scott (Ga.), Greg Steube (Fla.), Van Taylor (Texas) and Michael Waltz (Fla.).

A Navy spokesperson told Fox News he hadn’t heard of the letter, but the “Navy has nothing to add." The spokesperson previously has declined to comment on the case, citing the ongoing legal proceedings.

Gallagher, 39, is facing premeditated murder and aggravated assault charges stemming from the alleged killing of the ISIS prisoner and alleged instances of him intentionally firing sniper rounds at civilians.

During his 19 years of service, Gallagher earned the Bronze Star with V for Valor twice, a Meritorious Unit commendation, and a trio of Navy and Marine Corps Achievement medals -- among other recognitions and decorations.

He fought in Iraq and Afghanistan several times, reaching the status of what his brother Sean described as a “modern-day war hero” in a past interview with "Fox & Friends." But it was during Gallagher’s last combat deployment in 2017 he lost his way, prosecutors say, and reportedly “decided to act like the monster the terrorists accuse us of being.”

The concerns in the Republicans’ letter echo statements made by Gallagher’s brother Sean in a February op-ed published by Fox News, in which he implores President Trump to “review Eddie’s case, reunite him with his family, and place him back on the front lines where he belongs."

Sean Gallagher wrote that his brother is “confined with a population of convicted sex offenders, routinely denied access to his lawyers, medical appointments, and visits with his fellow soldiers."

He added: “The brig where he’s confined begins to isolate him because of all the attention he’s getting."

The Republicans, in their letter, also say “Chief Gallagher and other pretrial service members are intermingled with convicts who have been tried at court-martial, found guilty and sentenced to confinement.”

CLICK HERE TO GET THE FOX NEWS APP

They conclude by asking Spencer to weigh whether Gallagher should be held at Miramar – or somewhere else.

“We therefore request that you review the underlying reasons for co-locating pretrial and post-trial confinees at Consolidated Brig Miramar and whether the current arrangement fundamentally disadvantages Chief Gallagher and other pre-trial service members,” they said. “Furthermore, we request that you consider whether other locations are more appropriate for pretrial confinement.”

Source: Fox News National

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Ex-U.S. Vice President Biden denies inappropriate conduct over alleged kiss

FILE PHOTO: Munich Security Conference in Munich
FILE PHOTO: Former U.S. Vice President Joe Biden speaks during the annual Munich Security Conference in Munich, Germany February 16, 2019. REUTERS/Andreas Gebert

March 31, 2019

WASHINGTON (Reuters) – Former U.S. Vice President Joe Biden said on Sunday he believed he had never acted inappropriately following allegations by a female activist that he made her feel uncomfortable by kissing her at a campaign event in 2014.

“In my many years on the campaign trail and in public life, I have offered countless handshakes, hugs, expressions of affection, support and comfort. And not once – never – did I believe I acted inappropriately. If it is suggested I did so, I will listen respectfully. But it was never my intention,” Biden said.

Biden said he does not recall the 2014 incident.

The allegation was made in an online essay published on Friday by Lucy Flores, a party activist who was running to be Nevada’s lieutenant governor. Flores said Biden also touched her shoulders and smelled her hair when they appeared at an event together, making her feel uncomfortable.

“I may not recall these moments the same way, and I may be surprised at what I hear. But we have arrived at an important time when women feel they can and should relate their experiences, and men should pay attention. And I will,” Biden’s statement continued.

Biden served eight years as vice president under former President Barack Obama and 36 years in the U.S. Senate. He has not yet said whether he will run for president in 2020, but has been expected to throw his hat into the ring soon.

(Reporting by Michelle Price; Editing by Lisa Shumaker)

Source: OANN

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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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