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Barclays sets aside millions to deal with Brexit uncertainty

British bank Barclays says it set aside 150 million pounds ($196 million) to deal with economic uncertainty as Britain prepares to leave the European Union.

The bank said Thursday that bad loans in its credit card and corporate lending businesses may increase amid "anticipated economic uncertainty in the U.K." Britain is scheduled to leave the EU on March 29, ending more than 40 years of free trade with the bloc.

The comments came as Barclays said recent restructuring efforts delivered "improved performance across the group" last year.

Barclays says fourth-quarter pretax profit jumped to 374 million pounds from 93 million pounds a year earlier as it cut costs and set aside less money to cover past misdeeds. The bank's net loss shrank to 76 million pounds from 1.29 billion pounds.

Source: Fox News World

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NYPD says suspect taken into custody in killing of reputed Gambino crime boss

The NYPD on Saturday announced that a suspect had been taken into custody and is expected to be hit with murder charges in the slaying of Francesco Cali, the reputed boss of the Gambino crime family.

The suspect was identified as Anthony Comello, 24, Chief of Detectives Dermot Shea said at a news conference on Saturday.

The suspect “is currently being held in jail in New Jersey pending court appearances, where we anticipate we will have him returned to Staten Island to face murder charges for the death of Francesco Cali, which occurred on this past Wednesday evening,” Shea said.

REPUTED GAMBINO CRIME BOSS KILLED IN NEW YORK CITY TRIED DODGING BULLETS BY HIDING UNDER SUV, COPS SAY

Shea noted the investigation was still in its early stages, and added that several questions remained, including a clear motive.

Cali, 53, was killed Wednesday night, shot outside his New York home. Authorities have been examining surveillance video that captured Cali as he exited his home, in the Todt Hill section of Staten Island, around 9:15 p.m. after a man backed his vehicle into Cali’s parked Cadillac SUV.

It’s unclear whether this was a setup or an accident, according to Shea. Cali was shot several times, he said.

NYPD QUESTIONS SUSPECT IN KILLING OF REPUTED MAFIA BOSS

The truck involved in the encounter has since been recovered, though the murder weapon has not, according to the police official.

The NYPD has “an arrest warrant in hand from the Richmond County DA’s office,” Shea said during the news conference, adding that the suspect’s arrest will happen upon coordination with prosecutors in New Jersey.

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“I don’t anticipate that will be done today,” Shea said. “That’ll be done in the days to come and then we’ll work on extradition.”

When asked about the suspect’s arrest record, Shea said he "crossed paths in some limited circumstances with the NYPD," including getting a parking ticket on Staten Island the day Cali was killed.

Fox News’ Frank Miles and Stephen Sorace and The Associated Press contributed to this report.

Source: Fox News National

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Romanian lawmakers approve bill that could close graft cases

FILE PHOTO: Romanian Prime Minister Dancila attends a debate at the European Parliament in Strasbourg
FILE PHOTO: Romanian Prime Minister Viorica Dancila attends a debate on the priorities of the Romanian presidency of the E.U. for the next six months, at the European Parliament in Strasbourg, France, January 15, 2019. REUTERS/Vincent Kessler/File Photo

April 24, 2019

BUCHAREST (Reuters) – Romania’s lower house of parliament approved changes to the criminal codes on Wednesday that could shut down several ongoing high-level graft cases, but opposition politicians plan to challenge the bills at the Constitutional Court.

The bills are the latest in a series of legal and personnel changes made by the ruling Social Democrats since they came to power in 2017 that are seen as threats to judicial independence and have raised concerns in the European Union, the U.S. State Department and among thousands of Romanian magistrates.

One of the changes approved on Wednesday shortens the statute of limitations covering some offences, a move that would automatically shut down a number of ongoing cases. Other amendments include lower sentences for some offences and decriminalizing negligence in the workplace.

“Romania today becomes a state in which criminals are basically in a legal haven, encouraged … by changes that overall ease and simplify the impact of the law on criminals,” opposition Save Romania Union leader Dan Barna told reporters.

Barna’s party and the main opposition Liberals both said they would challenge the changes at the Constitutional Court.

Social Democrat lawmakers initially overhauled Romania’s criminal codes last year. The European Commission said the proposed changes were a reversal of a decade of democratic and market reforms in the former communist country.

The Constitutional Court struck down many of the changes following challenges by opposition lawmakers. On Wednesday, the ruling coalition approved the codes after removing the articles already struck down by the Court.

Prosecutors have secured a spate of convictions in recent years against lawmakers, ministers and mayors, including Social Democrat leader Liviu Dragnea. Their investigations have exposed conflicts of interest, abuse of power, fraud and awarding of state contracts in exchange for bribes.

Dragnea, who has a suspended jail term in a vote-rigging case and an ongoing appeal against a second conviction for inciting others to commit abuse of office, could be among the politicians to benefit from the changes.

The Social Democrats have said their legal initiatives are aimed at aligning legislation with EU norms and address abuses allegedly committed by magistrates.

Transparency International ranks Romania, which currently holds the EU’s rotating six-month presidency, among the bloc’s most corrupt states.

(Reporting by Luiza Ilie; Editing by Gareth Jones)

Source: OANN

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Shoe business: NBA lifts Cousins’ technical foul

NBA: Golden State Warriors at Charlotte Hornets
Feb 25, 2019; Charlotte, NC, USA; Golden State Warriors forward center DeMarcus Cousins (0) looks on as head coach Steve Kerr and an official discuss a technical foul called during the second half against the Charlotte Hornets at the Spectrum Center. Warriors won 121-110. Mandatory Credit: Sam Sharpe-USA TODAY Sports

February 27, 2019

Upon further review, a technical foul called Monday night on Golden State Warriors center DeMarcus Cousins for shoe-throwing was rescinded by the NBA on Tuesday, multiple media outlets reported.

In the game against the Charlotte Hornets that the visiting Warriors went on to win 121-110, Cousins received the technical with 4:51 remaining in the fourth quarter after he threw a shoe belonging to Jeremy Lamb after it slipped off the Hornets guard’s foot near the free-throw line.

The shoe went out of bounds, and referee Brian Forte called the technical. Cousins, the 28-year-old big man who was out nearly an entire season before returning last month from an Achilles injury, tried to plead his case.

“Next time, I’ll just step on the shoe and roll my ankle, break it, tear an Achilles,” Cousins said after the game. “Just leave it out there next time. I guess that’s what they want. I’ll keep that in mind.”

When Cousins was asked why Forte hit him with a “T,” the ref had one simple takeaway.

“Basically, you can’t throw a shoe,” Cousins said.

–Field Level Media

Source: OANN

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Sam Altman steps down as president of startup program Y Combinator

Sam Altman, President of Y Combinator, speaks at the Wall Street Journal Digital Conference in Laguna Beach
FILE PHOTO: Sam Altman, President of Y Combinator, speaks at the Wall Street Journal Digital Conference in Laguna Beach, California, U.S., October 18, 2017. REUTERS/Lucy Nicholson

March 8, 2019

By Heather Somerville

SAN FRANCISCO (Reuters) – Sam Altman is stepping down from his post as president of Y Combinator, the startup accelerator said on Friday, a pivotal change for the organization that was influential in the creation of startups such as Airbnb, Dropbox Inc and Cruise.

As YC’s second-ever president, Altman spent five years expanding the program’s reach and scale. He will move on to spending more time working on artificial intelligence efforts while remaining chairman at the company, YC said in a blog post Friday.

YC offers a startup program to which aspiring entrepreneurs can apply to receive mentorship and a $150,000 investment, and participate in a three-month bootcamp to work on their startup idea. YC gained influence in the tech industry after a number of startups that completed the program went on to achieve high valuations and be acquired by big companies. Cruise, for instance, was acquired by General Motors Co for $1 billion, and Airbnb, valued at $31 billion, is preparing for an IPO this year.

Of course, many YC graduates fail, too.

Many entrepreneurs apply to YC for the access to Silicon Valley venture capitalists; every YC program ends with a Demo Day when startups can show off their budding companies to prospective investors.

YC also said on Friday it plans to move to San Francisco from Mountain View, California, the latest sign of how startup activity has moved away from what was traditionally Silicon Valley and concentrated in San Francisco.

Under Altman’s leadership, YC expanded beyond nascent startups and created of a separate fund and training program for to larger, more mature tech companies. It also expanded into China and added a host of other startup programs.

Altman has become one of the startup industry’s more outspoken leaders on issues such as universal basic income and the safety and ethical implications of artificial intelligence. He helped found non-profit AI research organization OpenAI.

(Reporting by Heather Somerville; editing by David Gregorio and Alistair Bell)

Source: OANN

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New York Man Gets State Stun Gun Ban Overturned Based On His Second Amendment Rights

Evie Fordham | Politics and Health Care Reporter

Banning the personal ownership of stun guns in New York state is unconstitutional because it violates individuals’ Second Amendment right to bear arms, a federal judge ruled Friday.

“New York’s sweeping prohibition on the possession and use of tasers and stun guns by all citizens for all purposes, even for self-defense in one’s own home, must be declared unconstitutional,” U.S. District Judge David Hurd wrote in his decision according to The Associated Press. Hurd also wrote that people trading firearms for stun guns could result in fewer weapons deaths.

Matthew Avitabile of Schoharie County, New York, brought the suit against the state police superintendent, since that agency enforces the state’s weapons laws. Avitabile wanted to buy a stun gun to defend himself in his home in rural upstate New York, reported The AP. (RELATED: Coalition Of 500 Cities, Counties And Tribes Sues Pharma Billionaire Family For Racketeering)

Avitabile is also the mayor of Middleburgh, New York, and said that although his town is as safe “as Mayberry,” he wants New Yorkers to be able to protect themselves, reported The New York Post.

A hand holds a stun gun. Shutterstock image via user devonx

A hand holds a stun gun. Shutterstock image via user devonx

Forty-seven states allow tasers and stun guns with varying levels of regulation, according to The New York Post. Now the stricter states are starting to reverse course. For instance, the Illinois Supreme Court ruled in favor of two men charged with carrying stun guns Thursday, according to The AP. A Massachusetts court ruled that state’s stun gun ban unconstitutional in 2017.

New Jersey’s state attorney general declared the state ban on electronic arms like stun guns unconstitutional in 2017.

New York state is not known for being friendly to firearms businesses either. For example, New York-based, firearms-related business company Check-Mate Industries is expanding not in the Empire State, with its highly restrictive gun control laws, but in Georgia.

Follow Evie on Twitter @eviefordham.

Send tips to evie@dailycallernewsfoundation.org.

Content created by The Daily Caller News Foundation is available without charge to any eligible news publisher that can provide a large audience. For licensing opportunities of our original content, please contact licensing@dailycallernewsfoundation.org.

Source: The Daily Caller

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Is Logan Paul A Closeted Infowarrior?

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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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