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Nestle to face lawsuit saying Poland Spring water not from a spring: U.S. judge

FILE PHOTO: The Nestle logo is pictured on the company headquarters entrance building in Vevey
FILE PHOTO: The Nestle logo is pictured on the company headquarters entrance building in Vevey, Switzerland, February 18, 2016. REUTERS/Pierre Albouy/File Photo

March 28, 2019

By Jonathan Stempel

(Reuters) – A federal judge on Thursday rejected Nestle SA’s bid to dismiss a revised lawsuit claiming that it defrauded consumers by filling bottles of its Poland Spring water with ordinary groundwater.

U.S. District Judge Jeffrey Alker Meyer said consumers from eight northeastern states may pursue claims that Nestle Waters North America deceived them into overpaying by labeling Poland Spring as “100% Natural Spring Water.”

The New Haven, Connecticut-based judge allowed claims on behalf of consumers from Connecticut, Maine, Massachusetts, New Hampshire, New Jersey, New York, Pennsylvania and Rhode Island. He said federal law preempted claims from Vermont consumers.

Nestle Waters had argued there was “no fraud” because its water met the various state requirements. Meyer had dismissed an earlier version of the lawsuit last May.

“We remain highly confident in our legal position and will continue to defend our Poland Spring brand vigorously against this meritless lawsuit,” a Nestle Waters spokeswoman said in a statement on Thursday. “Poland Spring brand natural spring water is just what it says it is — 100 percent natural spring water.”

Lawyers for the plaintiffs did not immediately respond to requests for comment.

According to the amended complaint, Nestle Waters sells 1 billion gallons of Poland Spring a year in the United States, and “not one drop” of its water “emanates from a water source that qualifies as a genuine legal ‘natural spring.'”

The actual Poland Spring in Maine, which the defendant’s labels said is a source of Poland Spring water, “commercially ran dry” nearly 50 years ago, the complaint said.

In his earlier dismissal, Meyer said the plaintiffs were trying merely to enforce guidelines for spring water under the federal Food, Drug, and Cosmetic Act, and that this preempted their state law claims.

But in Thursday’s decision, he said he was “convinced” the plaintiffs would try to show only that Poland Spring water did not meet the states’ individual spring water standards, though they appeared to “mirror” the federal standard.

The case is Patane v. Nestle Waters North America Inc, U.S. District Court, District of Connecticut, No. 17-01381.

(Reporting by Jonathan Stempel in New York; Editing by Tom Brown)

Source: OANN

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European shares little changed as earnings boost offsets tepid PMIs

The German share price index DAX graph at the stock exchange in Frankfurt
FILE PHOTO: The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, April 16, 2019. REUTERS/Staff

April 18, 2019

By Medha Singh

(Reuters) – European shares were little changed on Thursday as strong quarterly results from Unilever and Nestle tempered data showing euro zone businesses unexpectedly slowed this month.

The pan-European STOXX 600 index rose 0.01 percent by 0940 GMT, retreating from an eight-month high and set to snap a six-day winning streak ahead of the Easter holiday.

Losses in bank-heavy Milan and Madrid indexes led declines, while Germany’s DAX edged higher.

The yield on the German 10-year bund fell further after flash Purchasing Managers’ Index (PMI) data unexpectedly fell to 51.3, a downturn led again by the bloc’s manufacturing industry.

The data came on the heels of the German government lowering its forecast for 2019 economic growth on Wednesday, which was overshadowed by better-than-expected economic data out of China.

“We … have confirmation that we are in a bit of a weak spot in Europe, if you look at the services sector and the composite PMI, and this is the reason why you’re seeing stock markets in Europe soften,” said Ken Odeluga, market analyst at CityIndex.

“But I think the PMI data is the wrong data at the right time. We are coming to the end of a very short week,” Odeluga added.

Also due are retail sales data and flash PMIs from the United States.

Bank stocks fell 0.7 percent, their steepest loss in three weeks.

Shares in Osram were among the biggest percentage losers on the STOXX 600 after a German magazine reported that private equity groups Bain and Carlyle were losing confidence in their bid for the lighting group.

SIGNS OF SLOWDOWN

Kering dropped 3.6 percent and weighed heavily on France’s CAC 40 after signs of a slowdown at the French fashion company’s Gucci brand, particularly in the United States.

Top gainer in Germany’s DAX was Deutsche Post, after the Federal Network Agency cleared the way for the postal company to significantly increase the cost of sending letters after the company pledged to hire an extra 5,000 delivery workers.

Not all earnings were disappointing. The food and beverage sector raked in a 1 percent rise, the most among European sectors, lifted by upbeat earnings from Nestle.

The food group’s shares advanced after it maintained its full-year forecast after good momentum in the United States and China.

London and Amsterdam-listed shares of Unilever topped the STOXX 600 after the consumer goods group reported stronger than expected quarterly underlying sales growth, helped by increased prices and volume.

Schneider Electric rose after the French company beat first-quarter revenue estimates.

Lab equipment maker Sartorius Stedim Biotech rose 3 percent after it maintained full-year guidance as first-quarter revenue rose.

French vouchers and card provider Edenred gained 2.3 percent after keeping its outlook for 2019 unchanged. Rival Sodexo was up 0.5 percent.

(Reporting by Medha Singh and Susan Mathew in Bengaluru; Editing by Gareth Jones and David Holmes)

Source: OANN

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Islamic State Plans Next Move After Loss of ‘Caliphate’

Islamic State Plans Next Move After Loss of 'Caliphate'

AP Photo/Hadi Mizban, File

In the desert between Iraq and Syria, mostly Kurdish forces have seized the last remaining pocket of the Islamic State's once sprawling dominion. But while the terrorists may have capitulated for now, many have gone underground to plan the next deadly phase.

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Bidding picks up again in Germany’s 5G mobile spectrum auction

A journalist uses his mobile phone to take a picture of the 5G logo prior to the auction of spectrum for 5G services at the Bundesnetzagentur head quarters in Mainz
A journalist uses his mobile phone to take a picture of the 5G logo prior to the auction of spectrum for 5G services at the Bundesnetzagentur head quarters in Mainz, Germany, March 19, 2019. REUTERS/Kai Pfaffenbach

April 4, 2019

By Douglas Busvine

FRANKFURT (Reuters) – Bidding has accelerated again in Germany’s auction of frequencies for next-generation 5G mobile networks, reducing chances that the four companies taking part will bag spectrum at bargain prices.

Action had slowed to a trickle this week with new bids in each auction round dwindling to just a few million euros, fuelling speculation the auction could end up being Germany’s cheapest ever.

The auction is being held in an old army barracks, with teams sequestered in separate rooms submitting offers via a secure network. The process, which can run for weeks, ends only when there are no new bids.

Bidding picked up again on Wednesday afternoon with Deutsche Telekom ending the day in a dominant position. As of Thursday morning, the total amount pledged was 2.9 billion euros ($3.3 billion).

Germany is auctioning 41 blocks of spectrum in the 2 gigahertz and 3.6 GHz bands. Analyst Usman Ghazi at Berenberg Bank had forecast that, in a benign scenario for operators, proceeds could total around 3 billion euros.

His base-case scenario sees 4-5 billion euros in proceeds, while a worst-case outcome would be upward of 8 billion euros – roughly in line with a costly 5G auction in Italy last year that has put operators’ finances under pressure.

New entrant 1&1 Drillisch had been bidding up the cost of spectrum in the 2 GHz band – which is more suited to running 4G services – to levels that Ghazi called irrational.

Drillisch, run by billionaire Ralph Dommermuth, had been on the ropes earlier in the process, with dibs on just one spectrum block, but came back in Round 97 with a massive bid to signal the seriousness of its intent.

(GRAPHIC: Germany’s 5G Auction – Incremental Bids – https://tmsnrt.rs/2VnFafE)

Analysts note that Telefonica Deutschland, the market No.3 by revenues, has been passive in the 2 GHz band and speculate that it may have a reserve of existing adjacent spectrum to draw on for its network.

Bids are lower for spectrum in the 3.6 GHz band, which has higher data-carrying capacity and is suited to 5G applications such as running networked “smart” factories.

As of Round 126, Deutsche Telekom was leading in 12 blocks, Vodafone in 11, Drillisch in 10, and Telefonica Deutschland in just two. Bids had been withdrawn on the other six blocks.

(GRAPHIC: Germany’s 5G Auction – Total Raised – https://tmsnrt.rs/2HWVDEu)

Germany’s 4G spectrum auction in 2015 ended after raising 5.1 billion euros. A previous auction in 2010 went on for six weeks and ended after 224 rounds of bidding.

(Reporting by Douglas Busvine; Editing by Dale Hudson)

Source: OANN

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Mali arrests five suspects in killing of 157 villagers

FILE PHOTO: Three Fulani men sell traditional fabric on a road in Sevare, Mali
FILE PHOTO: Three Fulani men sell traditional fabric on a road in Sevare, Mali, November 3, 2016. REUTERS/Adama Diarra//File Photo

March 29, 2019

BAMAKO (Reuters) – Malian authorities have detained five people suspected of taking part in the massacre of at least 157 villagers, a prosecutor said on Friday, following one of the worst attacks in Africa’s Sahel region in living memory.

The March 23 raid by suspected hunters from the Dogon community on Ogossagou, a village in central Mali populated by rival Fulani herders, was part of a wider surge in ethnic and jihadist violence across Mali and neighboring Burkina Faso and Niger.

Prosecution for violent acts related to conflict in the Sahel is rare, and widespread impunity is among the reasons communities take it upon themselves to exact revenge in tit-for-tat killings.

“Among the wounded taken care of by the medical service, five were formally recognized by others who had been wounded as being among the assailants,” Aza Ould Mohamed Nazim, a prosecutor in the Mopti region, told Reuters.

He said the five had been transported to the capital Bamako and placed under guard.

The United Nations dispatched human rights experts to the area this week to investigate the killings, and the International Criminal Court also said the crimes could fall under its jurisdiction.

(Reporting By Tiemoko Diallo, Writing by Aaron Ross, Editing by William Maclean)

Source: OANN

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Police release more records in Las Vegas massacre

Accounts of Las Vegas police collecting bullet fragments and tracing gun purchases are among newly released records from the deadliest mass shooting in modern U.S. history.

More than 750 pages of documents were distributed Wednesday by Las Vegas police.

However, a motive remains unknown for the carnage that killed 58 people and injured more than 850 in October 2017.

Police have said the 35th batch of material released since May under court order in a public records lawsuit will be the last.

It included transcribed statements by the first officers into a high-rise hotel suite where the gunman sprayed bullets from windows into a concert crowd below before killing himself.

Source: Fox News National

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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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