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Veteran Argentine politician seeks middle ground in tight electoral race

Former Argentina's Economy Minister and potential 2019 presidential candidate, Roberto Lavagna, gestures during a news conference at the Buenos Aires Grain Exchange, in Buenos Aires
Former Argentina's Economy Minister and potential 2019 presidential candidate, Roberto Lavagna, gestures during a news conference at the Buenos Aires Grain Exchange, in Buenos Aires, Argentina. April 9, 2019. REUTERS/Agustin Marcarian

April 9, 2019

By Nicolás Misculin and Eliana Raszewski

BUENOS AIRES (Reuters) – In the run-up to Argentina’s presidential election this year, a third potential candidate is seeking to stake out the middle ground, tapping into rising discontent among the country’s voters amid swirling economic crisis.

Roberto Lavagna, a former economy minister and part of the moderate flank of the Peronist opposition, is positioning himself between President Mauricio Macri’s austerity economics and left-leaning former leader Cristina Fernandez de Kirchner.

“We’re looking for a future outside the two extremes that have been dominating Argentine politics for the last eight years,” he told Reuters and other media on Tuesday.

“That’s not Macri’s economic tweaks, and not the indiscriminate intervention of the previous government,” he said, referring to Fernandez, whose policies included high subsidies and currency controls.

He did not announce or rule out an election run. People close to him politically said he would likely stay quiet until closer to a June deadline for candidates to formally enter the race.

He would be a dark horse candidate, but has been rising lately in opinion polls. Fernandez and Macri currently command around 30 percent support each, while Lavagna polls at a little over 10 percent.

Lavagna is best-known for his stewardship of Argentina’s tumultuous economy during 2002 to 2005, when he led a devaluation of the peso currency and the restructuring of Argentina’s debt, months after the largest sovereign default in history of nearly $100 billion.

That was followed by a strong revival in growth of over 8 percent annually, memories of which could benefit Lavagna at a time when voters are increasingly worried about the recession-hit economy, rampant inflation and volatile peso currency.

Even opponents agree he is a good man in a crisis.

“He’s a moderate, politically in the center, and he’s a ‘storm pilot’,” a former minister who worked with Lavagna and is now in the Fernandez camp told Reuters.

The person, who declined to be named, added that Lavagna’s age could count against him, however. Lavagna is 77 and would finish his potential four-year term at the age of 81.

That raises a question as to whether he can appeal to younger voters, in particular.

His policies would include seeking to boost flagging domestic demand and renegotiating the terms of a financing deal Argentina agreed with the International Monetary Fund last year for $56 billion, he said on Tuesday.

Candidates compete in a first round in October, after which if no individual has 45 percent of the vote, or 40 percent and a ten point lead over second place, a second round run-off is held in November.

Analysts say that if Lavagna could make it to the second round, he would have a better shot than Fernandez of beating Macri.

“If at the end of May, moderate Peronists like Lavagna can reach 30 points of voter support, they will keep rising,” Mariel Fornoni, director of consultancy Management & Fit, said.

“If not, the election will be polarized between Macri and Fernandez.”

(Reporting by Nicolas Misculin and Eliana Raszewski; Writing by Cassandra Garrison; Editing by Rosalba O’Brien)

Source: OANN

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Stock futures tread water after Fed turns more accommodative

Traders work on the floor at the NYSE in New York
FILE PHOTO: Traders work on the floor at the New York Stock Exchange (NYSE) in New York, U.S., March 20, 2019. REUTERS/Brendan McDermid

March 21, 2019

By Amy Caren Daniel

(Reuters) – U.S. stock index futures were subdued on Thursday, a day after the Federal Reserve abandoned projections for any interest rate hikes this year amid signs of an economic slowdown.

At the conclusion of its two-day monetary policy meeting on Wednesday, the central bank brought its three-year drive to tighten monetary policy to an abrupt end, and released details of a plan to end the monthly reduction of its balance sheet.

Shares of U.S. lenders, which are sensitive to interest rates, took a hit after the statement.

Citigroup Inc, Bank of America Corp and JPMorgan Chase & Co fell between 0.10 and 0.47 percent in light premarket trading on Thursday.

“The decision by the Fed to go all in on the dovish pivot caught markets off guard, with investors expecting a more cautious and gradual approach from a central bank that typically errs on the more hawkish side,” Craig Erlam, senior market analyst at Oanda in London, wrote in a note.

“Whether this is a sign that policy makers are genuinely concerned about the economy in 2019 or that they’ve finally bowed to external pressure, it’s certainly a bold move.”

A dovish Fed and hopes of a resolution to the ongoing trade war between United States and China have spurred a rally in stocks this year, with the S&P 500 now about 4 percent away from its record closing high in September.

Investors will now keep a close watch on trade talks between the United States and China as U.S. trade delegates travel to Beijing to resume negotiations.

President Donald Trump warned on Wednesday that Washington may leave tariffs on Chinese goods for a “substantial period” to ensure that Beijing complies with any trade agreement.

At 6:37 a.m. ET, Dow e-minis were down 18 points, or 0.07 percent. S&P 500 e-minis were down 0.5 points, or 0.02 percent and Nasdaq 100 e-minis were up 10.5 points, or 0.14 percent.

Among stocks, Micron Technology Inc rose 3.6 percent after the chipmaker said it sees a recovery in the memory chip market coming and reported a quarterly profit that beat estimates.

Boeing Co slipped 0.4 percent after pressure mounted on the world’s largest planemaker in Washington as U.S. lawmakers called for executives to testify about two crashed 737 MAX jets.

Economic data on tap includes initial claims for state unemployment benefits, which are expected to have fallen to 225,000 in the week ended March 16 from 229,000 in the previous week. The data is due at 8:30 a.m. ET.

(Reporting by Amy Caren Daniel and Medha Singh in Bengaluru; Editing by Anil D’Silva)

Source: OANN

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China to steadily resolve shadow banking risks: central bank

FILE PHOTO: Woman walks past the headquarters of the PBOC in Beijing
FILE PHOTO: A woman walks past the headquarters of the People's Bank of China (PBOC), the central bank, in Beijing, June 21, 2013. REUTERS/Jason Lee/File Photo

February 27, 2019

BEIJING (Reuters) – China will steadily resolve risks in the shadow banking sector and push for a stable transformation of financial institutions’ asset-management businesses, the central bank said on Wednesday.

The central bank will conduct stress tests and evaluations on financial institutions, as part of steps to prevent systemic financial risks, it said in a statement.

China will deal with risks posed by high-risk financial institutions in an orderly manner, the central bank said.

(Reporting by China Monitoring Desk; Editing by Himani Sarkar)

Source: OANN

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Draft notebook: Murray State’s Morant to make jump

NCAA Basketball: NCAA Tournament-Second Round- Florida State vs Murray State
FILE PHOTO: Mar 23, 2019; Hartford, CT, USA; Murray State Racers guard Ja Morant (12) talks to a teammate during the second half of game against the Florida State Seminoles in the second round of the 2019 NCAA Tournament at XL Center. Mandatory Credit: Robert Deutsch-USA TODAY Sports

April 3, 2019

All-American sophomore and projected lottery pick Ja Morant is leaving Murray State to enter the 2019 NBA Draft, The Athletic reported Wednesday.

Morant averaged 24.5 points and led the nation with 10.0 assists per game this season, highlighted by a triple-double against Marquette — 17 points, 16 assists and 11 rebounds — in a first-round win in the NCAA Tournament.

In a tweet, Murray State teased, “We have some exciting news to share with you this evening!” and invited the campus community to hear an announcement from the 6-foot-3 point guard at 6 p.m.

Morant, who also averaged 5.7 rebounds and 1.8 steals in 2018-19, has been projected to be selected as high as No. 2 in the draft behind Duke freshman forward Zion Williamson.

–Tennessee junior guard Jordan Bone said on social media he will enter the 2019 NBA Draft, but indicated he could still return and plans to use the process to measure his NBA readiness.

“I plan to make the most of this opportunity and use the experience and feedback to make the most informed decision about my basketball future,” Bone said.

Bone averaged 13.5 points and 5.8 assists per game last season and was second-team All-SEC.

Prospects face an April 21 deadline to enter the draft process, with a May 29 deadline to decide to stay in the draft or return to college.

–Vanderbilt freshman post player Simi Shittu announced he will enter the draft and hire an agent, which would eliminate his option to return to school.

Shittu, a high school McDonald’s All-American who suffered a torn ACL in January 2018, averaged 10.9 points and 6.7 rebounds for the Commodores, who went 9-23 overall and 0-18 in the SEC before firing coach Bryce Drew.

–Deividas Sirvydis, an 18-year-old wing from Lithuania, has submitted paperwork to be eligible for the 2019 NBA draft, according to ESPN, which rates him as the 48th-best prospect for the draft.

Sirvydis is playing for Lietuvos Rytas of the EuroCup League, starting 25 games and averaging 5.4 points and shooting 36 percent from 3-point range in 15 minutes per game, according to ESPN.

–Eugene German of Northern Illinois has declared for the NBA draft but will keep his options open, as he did last year when he returned to school after going through the pre-draft process.

The junior guard averaged 20.4 points this season, shooting 41.4 percent from 3-point range and earning second-team All-Mid-American Conference honors.

–Field Level Media

Source: OANN

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“Our Very Democracy Is At Stake” – Joe Biden Launches Campaign For President

Following months of anticipatory leaks and the ‘gropegate’ scandal that nearly derailed the former VP’s ambitions, Joe Biden, who has consistently polled at the top of the ever-expanding Democratic field, has finally announced his plans to seek the 2020 nomination.

In a video published via his twitter feed Thursday morning, the former vice president and Senator from Delaware declared his intention to run, declaring “the core values of this nation… our standing in the world… our very democracy…everything that has made America — America – is at stake.”

In the video, Biden framed his video with the infamous 2017 “Unite the Right” rally in Charlottesville, Va., – a “defining moment for our nation in the last few years” – where a counter-protester was killed after a member of a white supremacist group plowed into a crowd with his car. He contrasted the march with the writing of the ‘Declaration of Independence,’ which was penned by Thomas Jefferson in Charlottesville more than 240 years earlier.

In the video, Biden. condemned Trump for assigning a “moral equivalency” between the neo-Nazi marchers and the people protesting them when he said there were ‘fine people on both sides’.

“In that moment, I knew the threat to our nation was bigger than anything we’ve seen in our lifetime. I believe our nation will look back on this president…as an abberant moment in our history. Our very democracy…is at stake.”

“America is an idea, an idea that is stronger than any army, bigger than any ocean, more powerful than any dictator on Earth…it instills in every person in this country the belief that in this country there’s nothing you can’t achieve if you work at it. We can’t forget what happened in Charlottesville, even more important we have to remember who we are.”


Leo Zagami lays out the facts about how the globalists have been planning to use Joe Biden as a presidential candidate. Leo joins Owen via Skype to expose those that seek to control the world from the shadows.

Before signing off, Biden warned that America can’t afford eight years of Donald Trump, saying it would ‘forever alter the character of the nation.’

“If we give Donald Trump eight years in the White House, he will forever and fundamentally alter the character of this nation, who we are. And I cannot stand by and watch that happen. The core values of this nation, our standing in the world, our very democracy, everything that’s made America America is at stake. That’s why today I’m announcing my candidacy for president of the United States.”

Watch the video below:

Biden will follow his announcement with a fundraiser on Thursday, then a rally Monday in Pittsburgh, Bloomberg reported, citing an announcement from his campaign. Over the next ten days, he plans to make stops in Iowa, New Hampshire, Nevada and South Carolina, the earliest primary and caucus states.

Though Biden’s eight-year stint as Obama’s VP gives him unrivaled name and brand recognition in a field of 20 candidates, Obama has said he won’t make an endorsement until a nominee has been chosen. Online betting odds still favor Biden, 76, as the front-runner for the nomination, though “Democratic Socialist” Bernie Sanders is a close second, followed by the ascendant South Bend, Ind. mayor Pete Buttigieg.

Biden

Of course, Biden’s well-documented history of inappropriate touching isn’t his only major liability going into the Democratic primary (the Iowa caucuses are just 10 months away). The appearance of a quid-pro-quo involving Biden, his son, taxpayer money and a ‘sweetheart’ deal in Ukraine could very well become the scandal that finally proves his undoing.

Source: InfoWars

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Climate change protesters threaten to block central London roads

Extinction Rebellion protest in London
Climate change activists demonstrate on Waterloo Bridge during an Extinction Rebellion protest in London, Britain April 15, 2019. REUTERS/Henry Nicholls

April 15, 2019

LONDON (Reuters) – Environmental protesters are planning to paralyze parts of central London over the next few days by blocking some of the city’s busiest streets in a bid to force the government to do more to tackle climate change.

The protesters plan to block traffic at Marble Arch, Oxford Circus, Waterloo Bridge, Parliament Square and Piccadilly Circus from Monday at 10:00 GMT. Roadblocks will continue night and day at each site and the demonstrators say the protests could last at least five days.

“We will peacefully block traffic around the clock. This will be a full-scale festival of creative resistance, with people’s assemblies, art actions, stage performances, talks, workshops, food and family spaces,” said Extinction Rebellion, the group organizing the demonstration.

The group, which generated headlines with a semi-nude protest in the House of Commons earlier this month, has warned its members that some of them could be arrested for taking part in non-violent civil disobedience.

The disruption is to be the British element of what organizers hope will become an international movement to protest against environmental destruction. It follows similar action last November when thousands of protesters occupied five central London bridges. Police arrested 85 people that day.

The group is demanding the government declare a climate and ecological emergency, reduce greenhouse gas emissions to net zero by 2025 and create a Citizen’s Assembly of members of the public to lead on decisions to address climate change.

(Reporting by Andrew MacAskill; Editing by Peter Graff)

Source: OANN

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Palestinian teen: Israel shot me handcuffed and blindfolded

A Palestinian teen says he was unarmed when Israeli troops grabbed him last week and then shot him in both legs while he was handcuffed and blindfolded.

The 16-year-old Osama Hajahjeh said Monday he was walking home last week from a funeral in the West Bank village of Tekoa when he was grabbed.

He says soldiers bound him and shouted at him in Hebrew and Arabic. He was "confused" and started walking away when he was shot.

A photo captured by a local photographer shows soldiers appearing to pursue a fleeing Hajahjeh with his eyes covered and hands tied behind his back.

The Israeli military says it arrested an instigator of a violent protest and fired at his lower abdomen when he tried to flee. It says it's investigating.

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

April 26, 2019

By Patricia Weiss and Ludwig Burger

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

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

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

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

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

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

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

Bayer is appealing or plans to appeal the verdicts.

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

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

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

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

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

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

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

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

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

Source: OANN

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

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

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

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

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

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

Source: Fox News World

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

April 26, 2019

By Charlotte Greenfield

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

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

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

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

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

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

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

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

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

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

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

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

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

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

(Reporting by Charlotte Greenfield; Editing by Himani Sarkar)

Source: OANN

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

April 26, 2019

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

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

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

(Reporting by Muvija M in Bengaluru)

Source: OANN

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