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SoftBank invests $125 million in Alphabet venture to put cellphone antennas in the sky

FILE PHOTO: The logo of SoftBank Group Corp is displayed at SoftBank World 2017 conference in Tokyo
FILE PHOTO: The logo of SoftBank Group Corp is displayed at SoftBank World 2017 conference in Tokyo, Japan, July 20, 2017. REUTERS/Issei Kato

April 25, 2019

By Paresh Dave

SAN FRANCISCO (Reuters) – A SoftBank Corp business seeking to find a way to fly cellphone antennas high in the atmosphere to provide internet in underserved areas said on Wednesday it was investing $125 million in an Alphabet Inc spinoff working on the same problem.

SoftBank’s year-old HAPSMobile and Alphabet’s Loon, which spun out last July from the research incubator of the Google parent, separately have been trying to fly networking equipment at high altitudes to provide high-speed internet where ground-based towers are unreachable.

Loon carries the gear with a large balloon, while HAPSMobile uses a large drone.

Despite internet coverage gaps in rural areas or during natural disasters, mobile network operators, governments and other potential customers have yet to demonstrate much enthusiasm for buying skyborne technologies.

Also in the competition to fill the coverage gaps are several billionaire entrepreneurs, including Elon Musk, Richard Branson and Jeff Bezos. Each is backing separate early-stage ventures that want to beam internet from satellites in near-Earth orbit.

Loon and HAPSMobile said on Wednesday that collaboration could be the key to adoption. They are discussing the possibility of using each others’ technology, standardizing their airborne and ground networking gear and joining forces in regulatory discussions, they said in a statement.

The companies described their partnership as a “long-term” tie-up of one of Japan’s top three wireless carriers and one of the world’s biggest tech companies.

“I’m confident we can accelerate the path toward the realization of utilizing the stratosphere for global networks by pooling our technologies, insights and experience,” Junichi Miyakawa, SoftBank’s chief technology officer and HAPSMobile’s chief executive, said in the statement.

“Even in this current era of coming 5G services, we cannot ignore the reality that roughly half of the world’s population is without internet access,” Miyakawa added.

Loon has tested balloons for nearly a decade and expects to hold its first commercial trial in Kenya this year.

HAPSMobile emerged from technology developed by dronemaker AeroVironment Inc, which owns 10 percent of the SoftBank subsidiary.

Loon said it has the option to later invest $125 million in HAPSMobile.

(Reporting by Paresh Dave, Editing by Rosalba O’Brien)

Source: OANN

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Colorado lawmakers pass law overhauling oil and gas drilling regulations

FILE PHOTO: Democratic gubernatorial candidate Jared Polis speaks at his midterm election night party in Denver
FILE PHOTO: Democratic gubernatorial candidate Jared Polis speaks at his midterm election night party in Denver, Colorado U.S. November 6, 2018. REUTERS/Evan Semon

April 3, 2019

By Keith Coffman

DENVER (Reuters) – Colorado lawmakers approved a bill on Wednesday overhauling regulations governing the state’s robust oil and gas industry to prioritize public health and safety, over opposition by Republicans and industry groups.

Governor Jared Polis, a Democrat, is expected to sign the bill passed by majority Democrats, into law.

The controversial measure, which proponents say is the most sweeping changes to regulations in energy-rich Colorado in decades, would give local communities more oversight over development in their jurisdictions.

The legislation requires the Colorado Oil and Gas Conservation Commission, which oversees the industry, to hire a full-time staff of experts who will evaluate drilling impacts to air quality, among other controls.

The bill’s sponsor, Democratic state Senator Steve Fenberg, said in a statement that the revamped regulations were “long overdue.”

“This bill will ensure that public health and safety are the top priority in regulating oil and gas development in Colorado, and will empower local governments with the tools they need to address the concerns of their individual communities,” Fenberg said.

Colorado ranks as the fifth-biggest state in the nation in crude oil production and sixth in natural gas production, according to the U.S. Energy Information Administration.

The Colorado Oil and Gas Association, an industry group which opposed the bill, last month released a study it commissioned that said oil and gas production employs 89,000 people and pours $1 billion in tax revenues to state and local government coffers.

The association said new rules could jeopardize what it called an “economic juggernaut.” The association said in a joint statement with the Colorado Petroleum Council after the bill’s passage that despite some amendments to the original bill that allayed some of the industry’s concerns, it still opposes the measure.

“State officials have committed to working with industry experts during the highly complex regulatory rulemakings following the bill’s enactment,” the statement said. “That will be critical to minimizing the bill’s negative impacts on our state, and we hope that process can begin immediately.”

Environmental groups that pushed the legislation hailed its passage.

“Coloradans can breathe easier today knowing that our state is finally on track to put the health and safety of workers and residents, and our environment ahead of oil and gas industry profits,” Kelly Nordini, executive director of Conservation Colorado, said in a statement.

(Reporting by Keith Coffman; editing by Bill Tarrant and Leslie Adler)

Source: OANN

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UN conference for Yemen seeks funds for $4b target in 2019

The United Nations has opened a third pledging conference in hopes of drumming up some $4 billion this year for Yemen, a war-battered country facing the world's worst humanitarian crisis.

Host U.N. Secretary-General Antonio Guterres lamented "an overwhelming humanitarian catastrophe" where some 24 million people, or four-fifths of Yemen's total population, require aid and protection.

"Twenty million people cannot reliably feed themselves or their families," he said in Geneva, where the meeting is taking place. "Almost 10 million are just one step away from famine."

U.N. officials say they are running out of money in a country also facing a devastated health care system, a lack of jobs, continued fighting and fallout from the world's worst cholera epidemic in 2017.

Source: Fox News World

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Bangladeshi student burned to death by fellow students for reporting sexual harassment by head teacher

A Bangladeshi teenager who braved the shame and taboo of being sexually harassed by reporting her ordeal to officials, has been doused with kerosene at school and burned to death.

Nusrat Jahan Rafi, 19, filed a complaint with local police in late March after allegedly being touched inappropriately by the head teacher at her Islamic school, also known as a madrasa, according to the BBC.  A police officer filmed her distraught testimony on his mobile phone and it was leaked after the teacher was arrested.

Despite the increasing threats of violence against her, Rafi continued going to class and on April 6, reportedly was lured to a building rooftop at her school. She was then surrounded by several burqa-clad individuals who demanded that she retract her police report.

After refusing, the Police Bureau of Investigation Chief told the BBC, the student was doused in kerosene and set alight –but their plan to “make it look like a suicide” failed after the severely injured Rafi was rescued.

GRUESOME RAPE, MURDER OF KASHMIR GIRL RAISES TENSIONS

She suffered burns to more than 80 percent of her body, and died ten days later. But while being rushed to hospital via ambulance and in one final act of courage, Rafi recorded a statement on her brother’s phone exposing some of her attackers as fellow students.

“The teacher touched me,” she reportedly said. “I will fight this crime till my last breath.”

“When a woman tries to get justice for sexual harassment, she has to face a lot of harassment again,” Salma Ali, a human rights lawyer and former director of the Women Lawyers’ Association, told the BBC. “The case lingers for years, there is shaming in society, a lack of willingness from the police to properly investigate the allegations. It leads the victim to give up on seeking justice.”

NUNS SEXUALLY ABUSING MINORS COULD BECOME NEXT CATHOLIC CHURCH SCANDAL, EXPERTS SAY

But given the wave of media attention and the outpouring of anger that has arisen in the wake of Rafi’s murder, some remain hopeful that at least some justice might be served. The case is under investigation and authorities have already determined law enforcement negligence in the initial response to her complaints.

More than a dozen arrests reportedly have been made related to her murder.

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At a news conference this week, the National Human Rights Commission (NHRC) also took aim at the Islamic school for a long track record of ignoring previous grievances against the headmaster’s behavior toward female students.

“If the administration from the district level to madrasa acted responsibly, then the incident would never have taken place,” noted Kazi Reazul Haque, the NHRC chairman. “We questioned how (the head teacher) was appointed as the principal despite having this kind of past.”

Source: Fox News World

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EU weighs new rules on payments in challenge to Visa, Mastercard

FILE PHOTO: European Commission Vice-President Valdis Dombrovskis attends a news conference in Brussels
FILE PHOTO: European Commission Vice-President Valdis Dombrovskis attends a news conference in Brussels, Belgium, November 21, 2018. REUTERS/Yves Herman

February 26, 2019

BRUSSELS (Reuters) – The European Commission is considering new rules to speed up the take-up of an instant payment system launched last year by the European Central Bank in a direct challenge to card firms and tech giants, like PayPal, a top official said.

The ECB’s TARGET Instant Payment Settlement (TIPS) system will let people and companies in Europe transfer euros to each other within seconds and regardless of the opening hours of their local bank This is seen as a direct challenge to U.S. firms like PayPal, Google, Facebook and Amazon, and China’s Alibaba and Tencent which currently dominate such services in Europe.

But, as European banks have so far been slow in joining the system, the Commission is studying possible measures to facilitate its use.

“We are reflecting on whether a stronger regulatory push would be needed to speed up this process,” the EU Commission’s Vice-President in charge of financial services Valdis Dombrovskis told a fintech conference in Brussels.

He said the ECB system had the potential “to disrupt existing payment solutions, including cards, at least for euro denominated payments.”

U.S. firms Visa and Mastercard currently dominate the European market for card payments.

“In a few years, we want Europe to set new global standards for payments technology,” Dombrovskis said.

(Reporting by Francesco Guarascio; Editing by Keith Weir)

Source: OANN

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Police in South Korea investigate suspect in killings of 5

South Korean police are investigating a 42-year-old man accused of setting his apartment on fire and stabbing neighbors trying to flee, killing five people and injuring 13 others.

The violence Wednesday in the city of Jinju shocked the nation. Prime Minister Lee Nak-yeon criticized police Thursday for what he saw as a failure to properly monitor a person known for past violence and clashes with neighbors.

City police say the suspect aggressively resisted arrest and has a history of mental illness. But they say he has not given a coherent statement on what happened Wednesday.

Source: Fox News World

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Nasdaq reports rise in first quarter earnings

FILE PHOTO: A view of the exterior of the Nasdaq market site in Times Square, New York City
FILE PHOTO: A view of the exterior of the Nasdaq market site in Times Square New York City, NY, U.S. April 25, 2017. REUTERS/Shannon Stapleton/File Photo

April 24, 2019

NEW YORK (Reuters) – Nasdaq Inc on Wednesday reported a rise in first quarter profits on Wednesday as a pickup in the exchange operator’s non-transactional businesses, including market technology, helped offset a softer trading environment.

The company’s net income rose to $247 million, or $1.48 per diluted share, in the quarter ended March 31, from $177 million, or $1.05 per diluted share, a year earlier.

(Reporting by John McCrank)

Source: OANN

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

April 26, 2019

By Ryan Woo

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

NEED FOR CASH

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

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

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

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

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

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

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

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

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

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

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

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

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

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

STATE COMPETITION

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

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

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

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

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

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

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

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

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

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

Source: OANN

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

April 26, 2019

By Patricia Weiss and Ludwig Burger

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

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

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

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

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

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

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

Bayer is appealing or plans to appeal the verdicts.

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

Source: Fox News World

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

April 26, 2019

By Charlotte Greenfield

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

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

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

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

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

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

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

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

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

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

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

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

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

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

(Reporting by Charlotte Greenfield; Editing by Himani Sarkar)

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

April 26, 2019

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

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

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

(Reporting by Muvija M in Bengaluru)

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