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Japan manufacturers’ mood slumps to 2-1/2-year low – Reuters Tankan

FILE PHOTO: A man cycles past chimneys of facotries at the Keihin Industrial Zone in Kawasaki
FILE PHOTO: A man cycles past chimneys of facotries at the Keihin Industrial Zone in Kawasaki, Japan September 12, 2018. REUTERS/Kim Kyung-Hoon/File Photo

April 17, 2019

By Tetsushi Kajimoto and Izumi Nakagawa

TOKYO (Reuters) – Japanese manufacturers’ business confidence slipped to a 2-1/2-year low in April, a Reuters poll showed on Thursday, underlining growing concerns the economy could slip into a recession in the face of slowing external demand.

The monthly poll, which tracks the Bank of Japan’s (BOJ) closely watched tankan quarterly survey, found the service-sector mood up for the first time in four months, which may help ease some of the pressure on the world’s third-biggest economy.

Manufacturers’ mood is expected to rebound over the coming three months and service-sector morale is also seen edging up slightly, although the pace of recovery appears weak.

Subdued business confidence – on top of weakness in factory output and exports – has raised the specter of a downturn, although BOJ Governor Haruhiko Kuroda has maintained a relatively sanguine view on the economy in a signal that policy will remain steady at next week’s rate-review.

In the Reuters poll of 478 large- and mid-sized companies, in which 241 firms responded on condition of anonymity, many managers voiced concerns about China’s economic slowdown and its trade war with the United States.

“A sense of caution is rising due to the global slowdown amid the U.S.-China trade war and Brexit, which are causing companies to hold off on business investment, curbing orders for capex,” a manager of a machinery maker wrote in the survey.

The Reuters Tankan sentiment index for manufacturers stood at 8 in April, down two points from March, weighed on by manufacturers of processed food, transport equipment machinery and chemicals, the April 3-15 survey showed.

The index posted a sixth straight month of falls and hit the lowest reading since September 2016.

It is expected to rebound to 13 in July.

A bruising Sino-U.S. tariff war and slowing global growth have curbed global trade, in turn hurting Japan’s exporters and manufacturing industry. Some analysts warn of the risk of the economy sliding into a recession.

In the fourth quarter, Japan’s economy managed a modest bounce after a contraction in the previous quarter as floods and an earthquake temporarily halted production. The worry is that the recovery is being stunted by a cooling global economy.

The service-sector index grew to 24 in April from 22 in the previous month, led by industries such as construction/real estate and transport/utility.

The index is expected to inch up to 25 in July.

The BOJ’s last quarterly tankan showed the business mood hit a two-year low in the March quarter, highlighting worries that global trade tensions and weakening world demand were taking a toll on the export-reliant Japanese economy.

The Reuters Tankan indexes are calculated by subtracting the percentage of pessimistic respondents from optimistic ones. A positive figure means optimists outnumber pessimists.

(Reporting by Tetsushi Kajimoto and Izumi Nakagawa; Editing by Shri Navaratnam)

Source: OANN

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NHL roundup: Caps alone atop Metro

NHL: Washington Capitals at New Jersey Devils
Mar 19, 2019; Newark, NJ, USA; Washington Capitals right wing Brett Connolly (10) celebrates with teammates after scoring a goal against the New Jersey Devils during the second period at Prudential Center. Mandatory Credit: Noah K. Murray-USA TODAY Sports

March 20, 2019

Brett Connolly had a goal and an assist, and the Washington Capitals defeated the New Jersey Devils 4-1 on Tuesday night in Newark, N.J., to move into sole possession of first place in the Metropolitan Division.

Andre Burakovsky, Evgeny Kuznetsov and Tom Wilson also scored for Washington. Nicklas Backstrom collected his 50th assist of the season, and Pheonix Copley made 20 saves.

Kenny Agostino scored, and Mackenzie Blackwood made 18 saves for the Devils, who have lost two straight.

Blues 7, Oilers 2

Jaden Schwartz capped his hat trick with a power-play goal at 18:48 of the third period as St. Louis defeated visiting Edmonton.

David Perron added two goals and an assist, and Alex Pietrangelo and Pat Maroon also scored for the Blues. Jordan Binnington made 15 saves to improve to 14-3-0 in his past 17 starts.

Ryan Nugent-Hopkins and Zack Kassian scored for the Oilers. Mikko Koskinen stopped 17 of 20 shots before being pulled 5:42 into the second period after the Blues took a three-goal lead. Connor McDavid failed to tally a point, ending his 12-game scoring streak.

Flames 4, Blue Jackets 2

Michael Frolik scored the winning goal in a two-point night, and David Rittich was sensational while making 31 saves as host Calgary defeated Columbus. The Flames moved three points ahead of the San Jose Sharks for top spot in the Pacific Division and the Western Conference.

While Rittich had incredible fortune on his side with the Blue Jackets ringing four pucks off iron, he was outstanding all game, including a one-sided third period in which he stopped 11 shots.

Andrew Mangiapane, Johnny Gaudreau and Matthew Tkachuk added goals for Calgary, which has won four of its past five games. Zach Werenski and Oliver Bjorkstrand scored for the Blue Jackets.

Stars 4, Panthers 2

Alexander Radulov scored two goals, including the winner with 9:28 to play in the third period, and Tyler Seguin had four assists to lift host Dallas to a victory over Florida.

Dallas is now four points ahead of idle Arizona for the first wild-card spot in the Western Conference. Florida lost its second straight and is now 4-2-0 in its past six games.

Jamie Benn and John Klingberg collected the Stars’ other goals. Aleksander Barkov tallied twice for the Panthers.

Avalanche 3, Wild 1

Philipp Grubauer made 36 saves, Tyson Barrie, Tyson Jost and Ian Cole scored, and Colorado won at Saint Paul, Minn.

The Avalanche won their second in a row to tighten the Western Conference wild-card race. Colorado moved within a point of the Wild and within two points of Arizona. The Coyotes currently hold the second wild-card spot.

Zach Parise had a goal, and Devan Dubnyk stopped 35 shots for Minnesota. The Wild have lost two in a row, and they fell to 2-7-3 in their past 12 home games.

Predators 3, Maple Leafs 0

Brian Boyle, Wayne Simmonds and Filip Forsberg scored goals, Pekka Rinne stopped 22 shots, and Nashville defeated visiting Toronto.

Rinne has four shutouts this season, and the past two have been against the Maple Leafs. He has 55 career shutouts.

Ryan Johansen had two assists for the Predators, who managed only 20 shots on goal but won their third in a row. Frederik Andersen finished with 17 saves for the Maple Leafs.

Bruins 5, Islanders 0

Sean Kuraly scored two goals in a regular-season game for the first time in his career, and Tuukka Rask stopped all 13 shots he faced as Boston cruised to a win at Uniondale, N.Y.

The Bruins have won two straight following a three-game losing streak. Boston allowed 15 goals in the skid but has given up just one goal in its last two games. Jake DeBrusk, Patrice Bergeron and Noel Acciari also scored for the Bruins.

The Islanders lost for the second time in three games (1-2-0). New York goalie Robin Lehner, who played for the first time since sustaining what was believed to be a concussion on March 5, made 34 saves.

Hurricanes 3, Penguins 2 (SO)

Dougie Hamilton scored on the first attempt of a shootout, and that was enough for Carolina in a victory against Pittsburgh at Raleigh, N.C.

The Hurricanes made it past regulation when Justin Williams scored the tying goal with 1:56 left in the third period after the Hurricanes opted to go with an extra skater.

Pittsburgh’s Kris Letang scored with 4:37 remaining, but the Penguins couldn’t hold on.

Red Wings 3, Rangers 2

Jimmy Howard made 41 saves, and Andreas Athanasiou scored twice as Detroit opened a five-game road trip by holding on for a victory over New York.

Howard helped the Red Wings sweep the three-game season series with the Rangers by making at least 40 saves for the fifth time this season and 21st time in his career.

Detroit’s Frans Nielsen scored in the first period, and Athanasiou tallied in the second before adding an empty-net goal in the final minute. Ryan Strome and Brendan Smith were the Rangers’ goal-scorers.

Canadiens 3, Flyers 1

Goals from Brendan Gallagher, Shea Weber and Max Domi carried Montreal to a win at Philadelphia.

Andrew Shaw tallied two assists and Carey Price stopped 32 shots for the Canadiens.

Sean Couturier scored and Carter Hart made 33 saves for the Flyers, who took a second straight home loss for the first time since early January.

–Field Level Media

Source: OANN

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Israel says U.N. Gaza war crimes report biased against it

Palestinian demonstrators protest at the Israel-Gaza border fence, in the southern Gaza Strip
FILE PHOTO: Palestinian demonstrators protest at the Israel-Gaza border fence, in the southern Gaza Strip March 1, 2019. REUTERS/Ibraheem Abu Mustafa

March 21, 2019

By Jeffrey Heller

JERUSALEM (Reuters) – Israel said on Thursday a U.N. report critical of its use of lethal force during Palestinian protests on the Gaza border was biased and should have included a demand that the enclave’s dominant Hamas group take action to stop anti-Israeli violence.

A U.N. Commission of Inquiry on the demonstrations, which began nearly a year ago, said this week that Israel should investigate the shootings of more than 6,000 people, far beyond the criminal inquiries it has announced into 11 killings.

Issuing an official response to the commission’s report, Israel said it had “serious concerns about the factual and legal analysis conducted by the commission, its methodologies and the clear evidence of political bias against Israel”.

Gaza health authorities say some 200 people have been killed and thousands injured by Israeli fire since Palestinians launched the protests. One Israeli soldier was shot dead by a Palestinian sniper along the frontier.

Protesters have been demanding the lifting of an Israeli blockade of the territory and a right to return to land from which their ancestors fled or were expelled. Israel has said it has no choice but to use deadly force to defend the frontier.

Addressing the U.N. Human Rights Council in Geneva on Monday, the inquiry commission’s chairman, Santiago Canton, called on Israel, which boycotted the day-long debate, to review immediately its military’s rules of engagement.

Israel’s response, published on its Foreign Ministry’s website, said the commission’s “bias is most evident in (its) absolute failure … to make recommendations concerning Hamas”.

The militant group, Israel said, sends women, children and others to sabotage the Israeli security fence along the frontier and to act as shields for armed attacks. Balloons and kites have been flown across the border into Israel to start fires.

“If the commission seriously wished to provide an objective report that would contribute towards human rights and the safety of individuals, (it) would have seen fit to demand Hamas take action in the context of these events,” Israel said.

Asked about the Israeli allegations, Sami Abu Zuhri, a Hamas official in Gaza, said “most of those killed were hit hundreds of meters from the fence – evidence that Israeli soldiers had deliberately targeted them”.

A summary accompanying the 252-page report said protest organizers “encouraged or defended demonstrators’ indiscriminate use of incendiary kites and balloons”, and Gaza’s de facto authorities did not stop such acts.

The Human Rights Council, a 47-member forum, is due to vote on Friday on four resolutions related to the occupied Palestinian territories.

European states are divided on the resolutions, including a text related to the Gaza inquiry, with some expected to vote against and others abstaining, diplomats said.

The United States, Israel’s closest ally, quit the Geneva forum last year over what it says is bias against Israel.

Gaza is home to 2 million Palestinians, mainly stateless descendants of people who fled or were driven from Israel on its founding in 1948. Israel captured Gaza in a 1967 war but pulled out troops and settlements in 2005. Hamas took control in 2007.

Since then, Israel has fought three wars against the Islamist group and, along with Egypt, imposed a blockade of the territory that the World Bank says has collapsed its economy.

(Additional reporting by Nidal al-Mughrabi in Gaza and Stephanie Nebehay in Geneva)

Source: OANN

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The Latest: Israeli PM to cut short US visit after attack

The Latest on developments in Israel and the Palestinian territories (all times local):

8:15 a.m.

Israeli Prime Minister Benjamin Netanyahu says he's cutting short his visit to Washington after a Gaza rocket attack on Israel.

Netanyahu described Monday morning's rocket launch that struck a home in central Israel as a "criminal attack" and vowed to strike back hard. He says he will return to Israel to handle the crisis shortly after meeting with President Donald Trump on Monday.

An Israeli rescue service said the rocket from the Gaza Strip struck a house in central Israel, wounding seven people.

The sounds of air raid sirens woke up the residents of the residential Sharon area, northeast of Tel Aviv, sending them scurrying to bomb shelters. A strong explosion followed.

___

6:15 a.m.

An early morning rocket from the Gaza Strip has struck a house in central Israel on Monday, wounding seven people, raising concerns the attack could set off another round of violence shortly before the Israeli election.

The sounds of air raid sirens woke up the residents of the residential Sharon area, northeast of Tel Aviv, on Monday, sending them scurrying to bomb shelters. A strong sound of an explosion followed.

The Israeli military says it identified a rocket fired from the Gaza Strip. Israeli police say the rocket hit a residential home in the community of Mishmeret, north of the city of Kfar Saba, setting off a fire and destroying the house.

The Magen David Adom rescue service said it was treating seven people, including two women who were moderately wounded. The others, including two children and an infant, had minor wounds.

Source: Fox News World

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From trash to totes: Thai designer makes politics fashionable

A man cuts an election campaign poster to make a tote bag in his home in Bangkok
A man cuts an election campaign poster to make a tote bag out of it, in his home in Bangkok, Thailand April 8, 2019. Picture taken April 8, 2019. REUTERS/Soe Zeya Tun

April 12, 2019

By Patpicha Tanakasempipat and Jiraporn Kuhakan

BANGKOK (Reuters) – Thai designer Panupong Chansopa saw a business opportunity in millions of vinyl campaign posters destined to become trash after last month’s general election, and salvaged hundreds to turn them into colorful tote bags with a message.

Most of his designs feature the cropped faces of popular politicians, or eye-catching campaign slogans cut from the posters and sewn together by a seamstress.

“This is about a political awakening, not just an environmental effort,” Panupong, 28, said of the pent-up desire for political expression after five years of military rule.

“The junta took power and silenced people, but now people want to speak out and express themselves.”

It is still uncertain which party could form a government after the March 24 election, the first since a 2014 army coup. Final results may not be clear for weeks.

Panupong collected about 400 posters in Bangkok, mostly those of the youth-oriented Future Forward Party, whose leader Thanathorn Juangroongruangkit figures is among his most popular designs.

In a friend’s house that serves as a makeshift factory, Panupong unrolls a weather-worn poster on the floor, washes it with a sponge and soapy water and then hangs it up to dry.

The final product is a rectangular, vertical tote bag in bold colors, with handles so it can be held in the hand or slung over the shoulder. Made from vinyl, the bag is also water-resistant and durable.

The bags sell for 750 baht ($23.60) each and are available only while stocks last, Panupong said.

He hoped that his brand “Faithai”, inspired by a Swiss brand that makes bags from used truck tarps, can spur political debate without the deep divisions of the recent past.

“In the past…politics and political parties were seen as irrelevant, if not dangerous and risky to engage with,” he said.

“But now I want politics to be something everyone can relate to. No need to run from it, no need to fear talking about it.”

(Reporting by Patpicha Tanakasempipat and Jiraporn Kuhakan; writing by Patpicha Tanakasempipat; Editing by Darren Schuettler)

Source: OANN

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Pentagon to find places to potentially house up to 5,000 unaccompanied migrant children

FILE PHOTO: Migrants from Central America are seen inside an enclosure, where they are being held by U.S. Customs and Border Protection (CBP), after crossing the border between Mexico and the United States illegally and turning themselves in to request asy
FILE PHOTO: A man plays gives children rocks to play with inside an enclosure, where they are being held by U.S. Customs and Border Protection (CBP), after crossing the border between Mexico and the United States illegally and turning themselves in to request asylum, in El Paso, Texas, U.S., March 29, 2019. REUTERS/Lucas Jackson/File Photo

April 10, 2019

WASHINGTON (Reuters) – Acting U.S. Defense Secretary Patrick Shanahan has approved a request to identify places to potentially house up to 5,000 unaccompanied migrant children, the Pentagon said on Wednesday.

In March, the Department of Health and Human Services (HHS) requested Pentagon support to identify locations to house unaccompanied migrant children through Sept. 30.

Migrant arrivals on the U.S. border with Mexico have been building steadily for months, driven by growing numbers of children and families, especially from Central America.

Pentagon spokesman Lieutenant Colonel Jamie Davis told Reuters Shanahan approved that request on Tuesday. Davis said HHS had made no request to actually house the children so far.

President Donald Trump on Tuesday said he was not reviving a policy of separating children from parents who had illegally crossed the U.S.-Mexico border, one day after media reports that his administration was considering putting it back in place.

In February Trump declared a national emergency to help build a border wall, which would allow him to spend money on it that Congress had appropriated for other purposes. Congress declined to fulfill his request for $5.7 billion to help build the wall this year.

The Republican president’s latest pronouncements, including a threat to impose auto tariffs on Mexico, are in response to the rising number of migrants.

Trump has previously turned to the military to help with his border crackdown.

Last year, the U.S. military was asked to house up to 20,000 immigrant children but the space was never used.

Last month the Pentagon said it had shifted $1 billion to plan and build a 57-mile section of “pedestrian fencing,” roads and lighting along the border with Mexico.

There are about 6,000 active duty and National Guard troops near the border.

(Reporting by Idrees Ali and Phil Stewart in Washington; Editing by James Dalgleish)

Source: OANN

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Large, flightless bird attacks and kills its fallen owner

A large, flightless bird native to Australia and New Guinea attacked and killed its owner when the man fell on his property in Florida, authorities said Saturday.

The Alachua County Fire Rescue Department told the Gainesville Sun that a cassowary killed the man Friday on the property near Gainesville, likely using its long claws. The victim, whose name was not released, was apparently breeding the birds, state wildlife officials said.

"It looks like it was accidental. My understanding is that the gentleman was in the vicinity of the bird and at some point fell. When he fell, he was attacked," Deputy Chief Jeff Taylor told the newspaper.

Cassowaries are similar to emus and stand up to 6 feet (1.8 meters) tall and weigh up to 130 pounds (60 kilograms), with black body feathers and bright blue heads and necks.

The San Diego Zoo's website calls cassowaries the world's most dangerous bird with a four-inch (10-centimeter), dagger-like claw on each foot.

"The cassowary can slice open any predator or potential threat with a single swift kick. Powerful legs help the cassowary run up to 31 miles per hour (50 kph) through the dense forest underbrush," the website says.

Cassowaries are not raised for food in the U.S., but are sought after by collectors of exotic birds.

To obtain the mandatory permit, the Florida Fish and Wildlife Conservation Commission requires cassowary owners to have "substantial experience" and meet specific cage requirements, spokeswoman Karen Parker told the newspaper.

Wildlife officials did not answer phone calls late Saturday from The Associated Press and it could not be learned what happened to the bird.

Source: Fox News National

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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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