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Judge considers whether terror watchlist is unconstitutional

A federal judge says he will rule in the near future on the constitutionality of a government watchlist that includes more than 1 million people the FBI considers to be "known or suspected terrorists."

The Council on American-Islamic Relations sued in 2016 to challenge the watchlist on behalf of Muslim Americans who say they were wrongly placed on it and suffered negative consequences as a result.

The plaintiffs argued Thursday at a hearing in Alexandria that the list is disseminated so broadly that those listed face not only travel woes at airports and border crossings but also difficulty completing financial transactions and interacting with police. They also say the standard for inclusion is overbroad and innocent Muslims are routinely listed by mistake.

Government lawyers say the list is a necessary tool to fight terrorism and that plaintiffs exaggerate the consequences of inclusion.

The watchlist, also known as the Terrorist Screening Database, is maintained by the FBI and shared with a variety of federal agencies. Customs officers have access to the list to check people coming into the country at border crossings, and aviation officials use the database to help form the government's no-fly list.

The watchlist has grown significantly in size over the years. As of June 2017, approximately 1.16 million people were included on the watchlist, according to government documents filed in the lawsuit. In 2013, the number was only 680,000. The vast majority are foreigners, but according to the government, there are roughly 4,600 U.S. citizens and lawful permanent residents on the watchlist as well as of 2017.

CAIR lawyer Gadeir Abbas said the intrusions imposed on those listed are all for naught; he argued that the list is worthless in terms of preventing terrorism. He noted that Omar Mateen, the man who shot and killed 49 people at an Orlando nightclub in 2016, was at one time on the list but was later removed from it. Others who have committed terrorist acts have never even been included on the watchlist.

"The government cannot know who among the innocent will become a terrorist in the future," Abbas said. Because the government has no good standard for inclusion on the list, it falls back to stereotypes and routinely imposes the burden of watchlisting on innocent Muslims.

Justice department lawyer Amy Powell disputed Abbas' analysis and said it's impossible to know what types of terrorist attacks might have been foiled by placing those on the watchlist under greater scrutiny.

She also said that some of the consequences described by plaintiffs in the case, including being handcuffed at border crossings in front of family and having police approach them with guns drawn, may be frightening but are not so serious as to merit judicial intervention.

She said border agents have the right to take precautions when presented with a potential danger because "they have no idea what's coming over the border."

One of the plaintiffs, Hassan Shibly, who works in CAIR's Florida chapter, said he has been searched dozens of times because of his watchlist status and was once handcuffed in front of his grandmother at a border crossing in Detroit.

"It's humiliating," he said. "The government lawyers could never make the arguments they made in court today if they had personally faced the same treatment we've faced," Shibly said after the hearing.

The plaintiffs have alleged that the watchlist intrudes on many aspects of life beyond the ability to travel. Some Muslims have said they believe that financial transactions and interactions with law enforcement have been tainted because the government disseminates the list so broadly.

The case has revealed that the list goes not only to approximately 18,000 state and local law-enforcement agencies, but hundreds of private entities that are deemed "law enforcement adjacent" by the federal government also receive the list. Lawyers with CAIR say the government has interpreted it so broadly that animal shelters and churches have been given access. Government lawyers have responded that these animal shelters have police powers, and the churches are police forces at private schools run by religious organizations.

As for financial transactions, though, the evidence is murkier. The government has been adamant that banks and financial institutions do not get access to the list.

When the lawsuit was first filed, it included an allegation that one person believed to be on the watchlist was denied an opportunity test drive a car after a salesman ran his driver's license before turning over the keys, and came back to report that the man's license showed up on the terrorist watchlist. It turned out that the problem was caused because his name was similar to one on an entirely different list, maintained by the Treasury' Department's Office of Foreign Assets Control.

The government does not confirm whether an individual has been placed on the watchlist, and its secrecy leaves people to wonder whether any unusual interaction was caused by the watchlist. One plaintiff, Hassan Fares, described difficulty opening a bank account, and not knowing whether the problems stemmed for watchlist placement or not.

"It's difficult to determine whether it's random or whether it's connection to something else," he said. "Suspicion just leads to paranoia."

U.S. District Judge Anthony Trenga said after the hearing that he would issue a written ruling at a later date.

Source: Fox News National

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Trump says George P. Bush, Texas Land Commissioner, is ‘the only Bush that likes me’

President Trump apparently made clear on Wednesday during a visit to Texas who his favorite member of the Bush family is.

Speaking in Crosby, the president introduced Texas Land Commissioner George P. Bush to the crowd, and asked him to meet him on stage.

TRUMP REACTS TO BARBARA BUSH CRITICISM: 'LOOK WHAT I DID TO HER SONS'

“Come here, George! This is the only Bush that likes me. This is the only one,” Trump called out. “Come here, I want to meet you!”

Bush is the oldest child of former Republican Florida Gov. Jeb Bush and the nephew of former President George W. Bush.

President Trump on Thursday said George P. Bush, the son of former Florida Gov. Jeb Bush, was a "great guy" as they met on stage in Crosy, Texas.

President Trump on Thursday said George P. Bush, the son of former Florida Gov. Jeb Bush, was a "great guy" as they met on stage in Crosy, Texas. (AP Photo/Juan DeLeon)

Trump said that Bush is a friend of his son, “and he’s a great guy.”

CLICK HERE TO GET THE FOX NEWS APP

“Truly, this is the Bush that got it right,” the president said, as the two met on stage and chatted briefly. Bush, according to Trump, “is going far, he’s going places.”

While in Crosby, a city roughly 25 miles northeast of Houston, Trump signed two executive orders that he said will accelerate the approval of energy infrastructure projects in the U.S.

The Associated Press contributed to this report.

Source: Fox News Politics

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Swedish Migration Official Suspected of Illegally Granting Visas to Over 120 Afghans

A former employee of the Swedish Migration Board has been arrested under suspicion of illegally helping at least 121 Afghan migrants obtain visas, local media reports.

The ex-official and two possible accomplices were apprehended in early morning raids near Stockholm and Gothenburg, prosecutor Arne Fors told Aftonbladet.

The man is suspected of employing a variety of different approaches, including reversing visa application denials, authorizing visas on false grounds, and even approving 21 Afghans who claimed they had been invited by a prominent Swedish company to attend the Swedish Open tennis tournament, supplying documents that were clearly forgeries, according to the Migration Board.

"When deciding on a visa, some checks must be made," Fors explained. "If there is an invitation from any association or company, contact them, to make sure that this is a real invitation."

Some of the Afghans applied for asylum once they reached Sweden.

"Those who have received visas have been able to come to Sweden on them," Fors said. "And when you are in Sweden you can apply for asylum, if you want."

The Migration Board reportedly began investigating the suspect in 2016, and he was later dismissed in 2017 after admitting to incorrectly approving 14 visa applications.

The investigation has now expanded to 121 cases.

"The principal is suspected of gross misconduct, and the others for helping with that crime," Fors said of the three suspects. "Their roles have been clear and we have gained more clarity in the actual course of events."

The ex-official's lawyer maintains that his client is innocent, and only admits to errors in judgment.

Italy's Matteo Salvini recently said his nationalist party, Lega, is here to stay. Dan Lyman with Infowars Europe joins Owen to discuss the future of Europe and solutions for the migration crisis.

(PHOTO: Ullstein Bild / Getty Images)

Source: InfoWars

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Hungary leader grapples with EU as corruption concerns rise

As the Hungarian prime minister's conflicts with the European Union appear headed to a breaking point, calls are increasing for greater scrutiny of his government's spending of the bloc's funds.

An opposition lawmaker in Hungary has gathered more than 470,000 signatures to pressure Prime Minister Viktor Orban into joining the budding European Public Prosecutor's Office as Orban's Fidesz party may be suspended or expelled this coming week from the main center-right group in the European Parliament.

The EU has allocated Hungary 25 billion euros ($28.3 billion) in the 2014-2020 budget period, but critics say funds are often spent on overpriced or unnecessary projects padding the pockets of the allies of Orban, whose anti-EU campaigns over migration policies and national sovereignty have gotten him into trouble with European People's Party.

Source: Fox News World

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American Airlines indefinitely suspends flights to Venezuela

FILE PHOTO: People walk past an American Airlines logo at John F. Kennedy (JFK) airport in in New York
FILE PHOTO: People walk past an American Airlines logo on a wall at John F. Kennedy (JFK) airport in in New York November 27, 2013. REUTERS/Carlo Allegri/File Photo

March 28, 2019

(Reuters) – American Airlines Group Inc is indefinitely suspending its flights to Venezuela, as the country continues to struggle with political turmoil and unrest.

The airline will continue working with team members, union leaders and other key stakeholders to restart service when conditions are right, a company spokeswoman told Reuters on Thursday.

American Airlines had temporarily suspended its flights to the country earlier this month after its pilots union urged its workers to deny trips in the wake of a travel advisory issued by the U.S. State Department.

A number of airlines have stopped their flights to the South American country because of security concerns and disputes over money they say the Venezuelan government owes them.

(Reporting by Soundarya J in Bengaluru and Tracy Rucinski in Chicago; Editing by Anil D’Silva)

Source: OANN

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Restrictions placed on bishops accused of sexual harassment

Catholic church officials say they are imposing ministerial restrictions on two former bishops accused of sexual harassment.

Baltimore Archbishop William E. Lori announced the action Monday.

He says officials have completed an investigation into claims that former West Virginia bishop Michael J. Bransfield sexually harassed adults and committed financial improprieties.

Bransfield won't be allowed to perform any priestly or episcopal ministry in the Archdiocese of Baltimore and the Diocese of Wheeling-Charleston pending the final assessment of the Holy See.

Lori also says former bishop Gordon Bennett is prohibited from any priestly or episcopal ministry duties in the Archdiocese of Baltimore and the Diocese of Wheeling-Charleston.

Bennett served in Baltimore, Maryland and in Mandeville, Jamaica. He resigned in 2006 after being accused of sexually harassing a young adult.

Source: Fox News National

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FBI clashed with DOJ over potential 'bias' of source for surveillance warrant: McCabe-Page texts

Just nine days before the FBI applied for a Foreign Intelligence Surveillance Act (FISA) warrant to surveil a top Trump campaign aide, bureau officials were battling with a senior Justice Department official who had "continued concerns" about the "possible bias" of a source pivotal to the application, according to internal text messages obtained by Fox News.

The 2016 messages, sent between former FBI lawyer Lisa Page and then-FBI Deputy Director Andrew McCabe, also reveal that bureau brass circulated at least two anti-Trump blog articles, including a Lawfare blog post sent shortly after Election Day that called Trump possibly "among the major threats to the security of the country."

COMEY ADMITS FBI 'DIDN'T KNOW WHETHER WE HAD ANYTHING' ON TRUMP WHEN HE WAS FIRED AS FBI DIRECTOR IN 2017

Another article, sent by Page in July 2016 as the FBI's counterintelligence probe into Russian election interference was kicking off, flatly called Trump a "useful idiot" for Russian President Vladimir Putin. Page told McCabe that then-FBI Director James Comey had "surely" read that piece. Both articles were authored in whole or part by Benjamin Wittes, a Comey friend.

Further, the texts show that on Sept. 12, 2016, Page forwarded to McCabe some "unsolicited comments" calling then-House GOP Oversight Committee Chairman Trey Gowdy a "total d--k." Gowdy, at the time, was grilling FBI congressional affairs director Jason Herring at a hearing on the FBI's handling of the Clinton email investigation.

But perhaps the most significant Page-McCabe communications made plain the DOJ's worries that the FISA application to surveil Trump aide Carter Page was based on a potentially biased source -- and underscored the FBI's desire to press on.

Fox News is told the texts were connected to the ultimately successful Page application, which relied in part on information from British ex-spy Christopher Steele – whose anti-Trump views are now well-documented – and cited Page’s suspected Russia ties. In its warrant application, the FBI assured the FISA court on numerous occasions that other sources independently corroborated Steele's claims but did not clearly state that Steele worked for a firm hired by Hillary Clinton's campaign.

One-time advisor to President Trump Carter Page addresses the audience during a presentation in Moscow, Russia, December 12, 2016. REUTERS/Sergei Karpukhin - RC165B503FF0

One-time advisor to President Trump Carter Page addresses the audience during a presentation in Moscow, Russia, December 12, 2016. REUTERS/Sergei Karpukhin - RC165B503FF0

Carter Page has not been charged with any wrongdoing despite more than a year of federal surveillance, and he has since sued numerous actors -- including the Democratic National Committee (DNC) -- for defamation related to claims that he worked with Russia.

"OI [Office of Intelligence] now has a robust explanation re any possible bias of the chs [confidential human source] in the package," Lisa Page wrote to McCabe on Oct. 12, 2016. "Don't know what the holdup is now, other than Stu's continued concerns."

It's unclear whether the confidential source in question was Steele or another individual. "Stu" was an apparent reference to Stuart Evans, then the DOJ's National Security Division deputy assistant attorney general. In one previously unearthed and since-unredacted text message, former FBI Special Agent Peter Strzok texted Lisa Page that he was "Currently fighting with Stu for this FISA" in late 2016.

(In text messages above, "incoming" refers to texts from McCabe; "outgoing" refers to texts from Page)

"Strong operational need to have in place before Monday if at all possible, which means to ct tomorrow," Page added. "I communicated you and boss's green light to Stu earlier, and just sent an email to Stu asking where things stood. This might take a high-level push. Will keep you posted."

STRZOK: DOJ REACHED SECRET AGREEMENT WITH CLINTON LAWYERS TO BLOCK FBI ACCESS TO CLINTON FOUNDATION EMAILS

Minutes later, Page sent another urgent text to McCabe: "If I have not heard back from Stu in an hour, I will invoke your name to say you want to know where things are, so long as that is okay with you."

On Oct. 14, 2016, Page again wrote to McCabe, this time concerning a meeting with the White House.

“Just called," Page said to McCabe. "Apparently the DAG [Deputy Attorney General Sally Yates] now wants to be there, and WH wants DOJ to host.  So we are setting that up now.  ... We will very much need to get Cohen’s view before we meet with her.  Better, have him weigh in with her before the meeting. We need to speak with one voice, if that is in fact the case.” ("Cohen" is likely then-Deputy CIA Director David Cohen.)

McCabe responded within the hour: "Thanks. I will reach out to David." On Oct. 19, Page wrote to McCabe that the "meeting with WH counsel is finally set up."

Neither Lisa Page nor McCabe responded to Fox News' inquiries as to whether the meeting was designed to brief the White House on the FISA application or some other matter. Page and McCabe also did not reply to Fox News' inquiries about the DOJ's concerns over the FISA application, or dispute that the texts related to the Carter Page warrant application. Fox News has also reached out to the FBI and DOJ for comment.

Former FBI lawyer Lisa Page arrives for a closed door interview with the House Judiciary and House Oversight and Government Reform committees, Friday, July 13, 2018, on Capitol Hill in Washington.

Former FBI lawyer Lisa Page arrives for a closed door interview with the House Judiciary and House Oversight and Government Reform committees, Friday, July 13, 2018, on Capitol Hill in Washington. (Associated Press)

The FISA application eventually filed by the FBI on Oct. 21, 2016 stated, "The F.B.I. believes [Carter] Page has been the subject of targeted recruitment by the Russian government."

The FBI went on to allege that Carter Page "has established relationships with Russian government officials, including Russian intelligence officers," and that the FBI believed "the Russian government’s efforts are being coordinated with [Carter] Page and perhaps other individuals associated with” Trump's campaign. Page, the FBI told the FISA court, “has been collaborating and conspiring with the Russian government.”

Source: Fox News Politics

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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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