Upcoming shows
Real News

NOW ON AIR
Now On Air

Story Time

1:00 am 6:00 am



Maga First News

Upcoming Shows

Join The MAGA Network on Discord

0 0

Shares of Lululemon soar as its deft moves into menswear challenge Nike, Adidas

Clothes are displayed in a Lululemon Athletica retail store in New York
Clothes are displayed in a Lululemon Athletica retail store in New York, U.S., March 30, 2017. REUTERS/Brendan McDermid

March 28, 2019

By Arundhati Sarkar and Uday Sampath Kumar

(Reuters) – Shares of yoga-pants specialists Lululemon Athletica Inc surged 20 percent on Thursday, with several Wall Street analysts raising their price targets for the company after a blockbuster fourth quarter.

Wednesday’s results showed the Vancouver-based athleisure wear maker moving strongly into menswear, improving online sales and potentially challenging bigger rival Nike Inc on its home turf.

Its success in North America, which contributes close to 90 percent of its business, stood out in a quarter where Nike, which introduced yogawear at the end of last year, fell short of Wall Street estimates for U.S. sales the first time in a year.

Shares of the company climbed 20 percent to $167.60 in early trade.

“There’s a lot of runway for us to continue to grow our men’s business,” Chief Operating Officer Stuart Haselden said in a post earnings conference call with analysts.

“We really believe that Lululemon can be a dual-gender brand, and that our men’s business can ultimately be as big as our women’s.”

Allen Adamson, co-founder of marketing consultancy firm Metaforce, said that Lululemon’s expansion into menswear and fitness will add to headaches for Nike and Adidas, already in a brutal war over market share in their core markets.

“They play in the same neighborhood but not on the same block,” he said. “Lululemon has one foot in the fashion world and one foot in athletics while Nike has both feet in athletics.”

Adamson said Lululemon could pose more of a threat to Nike in newer markets like China where consumers’ definitions of the circumstances in which they can wear fitness, athletics and sports clothing are shifting quickly.

Lululemon forecast a strong 2019, said North America was doing well and reported a 37 percent jump in direct-to-consumer net revenue for the three months ended Feb. 3.

At least 11 brokerages have raised their price targets on Lululemon’s stock, with Stifel raising it the most by $35 to $187. JP Morgan held the highest target price of $197.

“We expect Lululemon to continue to rise above others who sell active wear, through targeted and nuanced customer engagement both online and in stores,” Susquehanna analyst Sam Poser said.

(Reporting by Arundhati Sarkar and Uday Sampath Kumar in Bengaluru; Editing by Bernard Orr)

Source: OANN

0 0

What next? UK’s May, opposition seek elusive Brexit concord

Prime Minister Theresa May has brought a new word to the Brexit lexicon: compromise.

May met Wednesday with opposition Labour Party leader Jeremy Corbyn to try to avoid Britain's chaotic departure from the European Union in little over a week.

The shift came after lawmakers rejected the government's Brexit deal on three occasions and twice failed to agree on any other option.

What might happen next:

NO DEAL

If Britain can't break its Brexit impasse, it risks crashing out of the EU in nine days.

Last month, the EU agreed to postpone the original departure date of March 29, but gave Britain only until April 12 to pass a deal, come up with a new plan and seek a further extension, or leave without an agreement or a transition period to smooth the way.

Most politicians, economists and business groups think leaving the world's largest trading bloc without an agreement would be damaging for the EU and disastrous for the U.K. It could lead to tariffs imposed on trade between Britain and the EU, and customs checks that could cause gridlock at ports and shortages of essential goods.

A hard core of pro-Brexit legislators in May's Conservative Party dismiss this as "Project Fear" and argue for what they call a "clean Brexit." But most lawmakers are opposed to leaving without a deal. Parliament has voted repeatedly to rule out a "no-deal" Brexit — most recently on Wednesday, when the House of Commons passed a bill that forces the government to ask for a delay to Britain's exit rather than crash out.

But a no-deal Brexit is still the legal default position, and could happen if the EU refuses to grant another extension. The bloc says it will only do that if Britain comes up with a new Brexit plan.

___

A COMPROMISE DEAL

After almost two years of negotiations, Britain and the EU struck a divorce deal in November, laying out the terms of the departure from the bloc and giving a rough outline of future relations.

But it has been thrice rejected by Parliament amid opposition from lawmakers on both sides of the Brexit divide. Pro-Brexit lawmakers think it keeps Britain too closely tied to EU rules. Pro-EU legislators argue it is worse than the U.K.'s current status as an EU member.

This week May finally acknowledged her bind, and began seeking a compromise with her Labour opponents to try to win their backing for the withdrawal deal. That's likely to include a pledge to keep closer economic ties with the bloc than she has long advocated.

___

SOFT BREXIT?

May's offer of opposition talks suggest she is pivoting to a softer form of Brexit than the one she has described for almost three years.

May has always insisted Britain must leave the EU's single market and customs union in order to forge new trade deals around the world, but those ideas have strong opposition support.

Tweaking her deal to adopt a customs union, which would ensure seamless trade in goods with the EU, could gain May valuable votes in Parliament.

It also would probably be welcomed by the EU and would allow Britain an orderly departure in the coming months.

However, it could also create a schism in the Conservative Party, leading to potential resignations of pro-Brexit government ministers.

That instability increases the chance of an early British election, which could rearrange Parliament and break the deadlock.

___

BREXIT DELAYED

May has conceded that Britain will need a further delay to its departure in order to sort out the mess and avert a "no-deal" departure.

The EU is frustrated with the impasse and has said it will only grant another postponement if Britain comes up with a whole new plan.

Both Britain and the EU are reluctant to have the U.K. participate in May 23-26 elections for the European Parliament but have signaled it could happen if necessary.

EU Council President Donald Tusk has urged the bloc to "be patient" and give Britain a Brexit extension if it plans to change course.

___

BREXIT RECONSIDERED

This week, Parliament narrowly rejected a proposal for a new referendum on whether to leave the EU.

The proposal for any Brexit deal to be put to public vote in a "confirmatory referendum" was backed by opposition parties, plus some of May's Conservatives.

The government has ruled out holding another referendum, saying voters in 2016 made their decision to leave.

But with divisions in both Parliament and in May's Cabinet, handing the decision back to the people in a new plebiscite could be seen as the only way forward.

___

Follow AP's full coverage of Brexit at: https://www.apnews.com/Brexit

Source: Fox News World

0 0

Hornets to join NBA2K in 2020

FILE PHOTO: NBA: Charlotte Hornets at Utah Jazz
FILE PHOTO: Apr 1, 2019; Salt Lake City, UT, USA; Charlotte Hornets guard Malik Monk (1) dunks the ball over Utah Jazz forward Jae Crowder (99) during the first quarter at Vivint Smart Home Arena. Mandatory Credit: Chris Nicoll-USA TODAY Sports

April 3, 2019

The Charlotte Hornets’ parent company is ready to join the NBA2K League in 2020.

Charlotte will become the 22nd franchise in the league, which is operated by the NBA.

“The popularity and growth of esports both in the U.S. and internationally continues to rise at a tremendous rate,” said Fred Willard, the Hornets president and vice chairman. “Our NBA 2K League affiliate will provide us with another opportunity to extend the (Hornets) brand and reach a highly coveted, as well as hard-to-reach, younger demographic of fans.”

The NBA 2K League’s 18-week 2019 season began Tuesday and will end with the championship round on Aug. 3.

–Field Level Media

Source: OANN

0 0

Shunned by banks, France’s Le Pen seeks to crowdfund EU election campaign

FILE PHOTO: French far-right National Rally (Rassemblement National) party leader Marine Le Pen sings the national anthem during a meeting in Saint-Paul-du-Bois
FILE PHOTO: French far-right National Rally (Rassemblement National) party leader Marine Le Pen sings the national anthem during a meeting in Saint-Paul-du-Bois, France, February 17, 2019. REUTERS/Stephane Mahe/File Photo

April 2, 2019

By Simon Carraud

PARIS (Reuters) – Marine Le Pen, the leader of France’s far-right party, said on Tuesday she would raise funds from the public for next month’s European Parliament elections, after her party failed to secure a multi-million-euro bank loan.

Nationalist, eurosceptic and anti-immigration parties are expected to make strong gains in the vote, and Le Pen’s Rassemblement National (National Rally) is almost neck-and-neck in the polls with President Emmanuel Macron’s En Marche.

The RN, which changed its name from Front National to shed a brand associated by many voters with racism and anti-Semitism, faces financial problems: it is heavily indebted and has had its accounts in France closed by banks which declined to say why.

It also remains dogged by questions over a Russian loan that helped financed Le Pen’s 2017 presidential run.

“We have no other option than to go to the French people and ask to borrow money for a year to wage our campaign,” Le Pen told LCI news site.

The party had been hoping to secure a 4 million euro ($4.5 million) loan, Jordan Bardella, the lead candidate on Le Pen’s list for the European election, told Reuters in January.

But that was unsuccessful and the party now hopes to raise cash through loans or donations from supporters, Le Pen said.

The RN’s cash-crunch could hamper its ability to mount a national campaign and win support beyond Le Pen’s core base. Voters often use European Parliament elections to express discontent with the government.

After Macron reshaped France’s political landscape with his 2017 election victory, obliterating the traditional center-right and center-left blocks that dominated politics for decades, the European contest is shaping up as a showdown between Macron’s and Le Pen’s parties.

An Ifop-Fiducial survey this week showed Macron’s La Republique en Marche on 22.5 percent compared with 21 percent for Le Pen’s party.

The RN is not alone in seeking public financial support. On Sunday, the hard-left France Insoumise (France Unbowed) said it had raised 300,000 euros in the first few hours of launching a crowdfunding appeal.

(Writing by Richard Lough; Editing by Robin Pomeroy)

Source: OANN

0 0

Jury selection to resume in ex-Minneapolis cop’s trial

Jury selection is resuming in the trial of a former Minneapolis police officer who fatally shot an unarmed Australian woman who had called 911 to report a possible assault.

Mohamed Noor is charged with murder and manslaughter in the July 2017 death of Justine Ruszczyk Damond. Damond, a 40-year-old life coach, had approached Noor's squad car in the alley behind her home when she was shot.

A pool of 75 potential jurors filled out questionnaires Monday. Attorneys for both sides and the judge agreed to dismiss six people on Tuesday based on their written answers to questions such as their experiences with a person of Somali heritage. Direct questioning starts Wednesday.

Noor is Somali-American. Damond was white.

Source: Fox News National

0 0

Report: NKorea Could Start Stealing Intellectual Property

North Korea reportedly could turn to stealing business secrets to crank up their economy, according to Axios.

Citing a theory from cybersecurity firm CrowdStrike, Axios reported North Korea is one of the "big four" hacking threats — along with China, Russia, and Iran — but it currently focuses on cash.

According to Axios, North Korea's long-held strategy had emphasized parallel development of nuclear and economic power. Since they have announced they achieved the first goal, that leaves the economic goal as a focus.

"North Korea will want to leapfrog its way into the global economy," Adam Meyers, vice president of intelligence at CrowdStrike, told Axios. "Vietnam is frequently mentioned as the model North Korea would follow to build a sustainable economy. But China would be on the table, too."

While CrowdStrike does not see any current intellectual property theft, Meyers suggested a shift could happen in the next two years, Axios reported.

Jenny Town, an analyst for the Stimson Center and managing editor of its North Korea-focused 38 North blog, told Axios the shift CrowdStrike is predicting is something to watch out for.

"It has been dangerous in the past to underestimate North Korea on these things," she said.

Still, Axios noted, North Korea lacks the infrastructure for the kinds of high-tech manufacturing that China succeeded with — and does not have the equipment to mass-produce cheap, modern products.

"They're making a fair amount of money through hard currency, and they'd have to reassign those resources to do this," Adam Segal, director of the digital and cyberspace policy program at the Council on Foreign Relations, told Axios.

But Robert Manning, an Atlantic Council resident senior fellow, told Axios any intellectual property theft would probably favor goods that are easy to fabricate — like pharmaceuticals and pirated movies.

Source: NewsMax America

0 0

After massacre, Trump downplays white nationalism threat

President Donald Trump played down any threat posed by racist white nationalism on Friday after the gunman accused of the New Zealand mosque massacre called the president "a symbol of renewed white identity."

Trump, whose own previous responses to the movement have drawn scrutiny, expressed sympathy for the victims who died as "places of worship turned into scenes of evil killing." But he declined to join expressions of mounting concern about white nationalism, saying that "I don't, really" when asked whether it was a rising threat around the world.

"I think it's a small group of people that have very, very serious problems, I guess," Trump said. "If you look at what happened in New Zealand, perhaps that's the case. I don't know enough about it yet. But it's certainly a terrible thing."

Trump was asked about white nationalism and the shooting deaths of 49 people at mosques in Christchurch after he formally vetoed Congress' resolution to block his declaration of a national emergency at the Mexico border. His veto, aimed at freeing money to build more miles of a border wall against illegal immigration, is expected to survive any congressional effort to overturn it.

Questioned about the accused gunman's reference to him, Trump professed ignorance.

"I didn't see it. I didn't see it," he said. "But I think it's a horrible event ... a horrible, disgraceful thing and a horrible act."

The man accused of the shootings, whose name was not immediately released, left behind a lengthy document that outlined his motivations. He proudly stated that he was a 28-year-old Australian white nationalist who hates immigrants and was set off by attacks in Europe that were perpetrated by Muslims. In a single reference, he mentioned the U.S. president.

"Were/are you a supporter of Donald Trump?" was one of the questions he posed to himself. His answer: "As a symbol of renewed white identity and common purpose? Sure. As a policy maker and leader? Dear god no."

The White House immediately denounced the connection. But the mention from the suspect, who embraced Nazi imagery and voiced support for fascism, nonetheless cast an uncomfortable light on the way that the president has been embraced by some on the far right.

Trump, who as a candidate proposed a ban on all Muslims entering the United States, has drawn criticism as being slow to condemn white supremacy and related violence. After a 2017 clash between white nationalists and anti-racist protesters in Charlottesville, Virginia, that left one demonstrator dead, Trump said there were "very fine people on both sides" of the confrontation. He also did not immediately reject the support of David Duke, a former KKK Grand Wizard, during his presidential campaign.

Sen. Richard Blumenthal, D-Conn., tied Trump's inflammatory language to the violence half a world away.

"Words have consequences like saying we have an invasion on our border and talking about people as though they were different in some fatal way," Blumenthal said on CNN. "I think that the public discourse from the president on down is a factor in some of these actions."

Former Texas Rep. Beto O'Rourke, who declared his Democratic candidacy for president this week, said, "We must call out this hatred, this Islamophobia, this intolerance, and the violence that predictably follows from the rhetoric that we use."

The White House, in comments before those remarks, rejected any link to Trump.

"It's outrageous to even make that connection between this deranged individual that committed this evil crime to the president who has repeatedly condemned bigotry, racism and made it very clear that this is a terrorist attack," Mercedes Schlapp, the White House's director of strategic communication, told reporters. "We are there to support and stand with the people of New Zealand."

Trump himself telephoned New Zealand Prime Minister Jacinda Ardern, offering condolences, prayers and any help the U.S. might be able to provide. She told reporters she answered, "My message was: to offer sympathy and love to all Muslim communities."

Trump's hardline immigration rhetoric and calls to return America to its traditional past have been embraced by many on the conservative fringes, including some who troll online with racist imagery, as well as white supremacists who have looked to engage in violence.

In Florida, Cesar Sayoc, who had decorated his van with Trump propaganda, was accused of mailing explosives last fall to Democratic Party officials and media members, many of whom had been criticized by the president. The president said Sayoc had been "insane" long before he became a Trump fan.

Last month, a former Coast Guard official was accused of stockpiling weapons in a plot to kill media members and liberal politicians as part of a plan to transform the U.S. into a white ethno-state. It took more than a week for Trump to respond to the plot, which he deemed "a shame."

Many experts who track violent extremists have identified white nationalism as a growing threat in the U.S. and abroad. In January, for example, the New York-based Anti-Defamation League said that domestic extremists killed at least 50 people in the U.S. in 2018, up from 37 in 2017, and said, "White supremacists were responsible for the great majority of the killings, which is typically the case."

Some critics have accused U.S. authorities of not dedicating adequate resources to stem a threat of domestic terrorism. However, The Washington Post reported last week that internal FBI data showed more domestic terror suspects were arrested last year than those allegedly inspired by international terror groups.

___

Associated Press writers Jill Colvin and Michael Kunzelman in Washington and Alexandra Jaffe in Mt. Pleasant, Iowa, contributed reporting.

___

Follow Lemire on Twitter at http://twitter.com/@JonLemire

Source: Fox News National

NOW ON AIR
Now On Air

Story Time

1:00 am 6:00 am



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

Listen to https://magaoneradio.net and Listen Daily! Don't Forget to Share Click a Link Below!

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

Listen to https://magaoneradio.net and Listen Daily! Don't Forget to Share Click a Link Below!
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

Listen to https://magaoneradio.net and Listen Daily! Don't Forget to Share Click a Link Below!

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

Listen to https://magaoneradio.net and Listen Daily! Don't Forget to Share Click a Link Below!
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

Listen to https://magaoneradio.net and Listen Daily! Don't Forget to Share Click a Link Below!

Listen to https://magaoneradio.net and Listen Daily! Don't Forget to Share Click a Link Below!
Current track

Title

Artist