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UK inflation holds steady in March amid Brexit uncertainty

Official figures show that inflation in Britain unexpectedly held steady in March, with economists suggesting that Brexit uncertainty prompted retailers to keep prices lower than would otherwise have been the case.

The Office for National Statistics said Wednesday that consumer prices were up 1.9 percent in the year to March. Most economists had expected inflation to rise slightly to 2 percent, which is the Bank of England's target rate.

The figures suggest that rising uncertainty related to Britain's exit from the European Union during the month may have contributed to the slightly lower outcome. Britain was due to leave the EU on March 29 but it was postponed as Parliament failed to back Prime Minister Theresa May's Brexit deal. Britain now has a new Oct. 31 deadline.

Source: Fox News World

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What to do When Your Bank Account Freezes

What would you do if the bank suddenly froze your account and you couldn’t access any of your money?

Perhaps this sounds a little farfetched, but it certainly isn’t unprecedented. In fact, Chinese customers of some Spanish banks recently faced this exact scenario.

Three of the country’s biggest lenders – BBVA, Caixabank and Bankia – froze accounts belong to Chinese residents of Spain for up to two weeks. These bank customers said they didn’t have access to their accounts for as long as three months. Some of the account holders were Spanish citizens.

The banks locked down the accounts under Spain’s anti-money laundering laws. BBVA reportedly froze some 5,000 accounts. According to a report on Wolf Street, many of those customers were Spanish born children of Chinese parents. They said they were not even warned their accounts were about to be frozen.


Victor from California asks, “After what Chase bank is doing to conservatives, should I close my account?”

Hundreds of Chinese residents took to the streets of Spain to protest the policy. Spain’s Association of Financial Users (ASUFIN) announced it would assist customers whose accounts were frozen with legal proceedings. ASUFIN President Patricia Suárez said, “These are normal people, without risky movements or suspicious operations. They are angry and have even protested, something quite unusual among the Chinese.”

All of this stems from a tightening of money-laundering laws in the wake of a 2017 scandal that ensnared several Spanish banks. According to Wolf Street, they were accused of laundering hundreds of millions of euros in illegal funds from tax fraud and smuggling by “Chinese criminal organizations.” The recent rash of frozen accounts appears to be a backlash from the scandal. According to a source quoted by Wolf Street, a spokesman for the Spanish banking association insisted that the rules are being applied regardless of nationality. “But since the law’s passage, most of the focus appears to have been on Chinese nationals. And many apparently innocent bank customers have been caught in the resulting trawl.”

This reveals how quickly things can go sideways when somebody else controls all of your money and why you should always have direct access to liquid assets. Barter metals are one option.

Just last fall, many Iranians turned to gold in the wake of massive currency devaluation. Iranians have traditionally saved gold coins for major purchases such as weddings, but they have had to gold for more mundane transactions. Some landlords started collecting rent in gold instead of rials.  As the Middle East Eye put it, “The downward spiral of the rial has led some landlords to try to safeguard their income by turning to gold.”

(Photo by Andrew Czap, Flickr)

Barter also spread through several European countries after irresponsible government spending led to a debt crisis and bailouts a few years ago. In 2012, Spain saw a noticeable increase in barter exchanges, as Spaniards sought alternative ways to do business with each other in an economy on the verge of a major debt crisis. Greeks also became fluent in barter and alternative means of trade when their financial system effectively collapsed in 2010. Greeks had their access to cash severely restricted during their country’s recent economic turmoil. It got so bad, a robust barter economy developed out of sheer necessity, as everyday Greeks had to find ways to cope with cash withdrawal limits and currency shortages.

Junk silver is an excellent way to hold barterable metal. The term refers to quarters, dimes, and half-dollars, minted before 1965. Actually, we should be calling modern coins junk because that’s about what they’re worth. Up until 1965, quarters and dimes were minted from 90% silver. That makes them perfect for buying basic goods during times of hyperinflation – or if banks start freezing accounts.

The bottom line is that you shouldn’t assume you will always have access to your money just because you have a bank account. You never know what might happen and you should always be prepared.


Satire footage of Alex Jones encountering Hillary Clinton on vacation.

Source: InfoWars

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New Zealand prime minister announces ban on 'military-style semi-automatic weapons' after mosque attack

New Zealand Prime Minister Jacinda Ardern on Thursday announced the country was immediately banning "military-style semi-automatic weapons" after last week's attack that killed 50 people at two mosques.

This is a developing story. Please check back for updates.

Source: Fox News World

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Alabama-born ISIS wife will not be admitted to the US, Pompeo says

Secretary of State Mike Pompeo said Wednesday an Alabama-born woman who joined ISIS but now wants to return home with the 18-month-son she had with her ISIS husband will not be admitted back into the United States, saying she is not a U.S. citizen anymore.

“Ms. Hoda Muthana is not a U.S. citizen and will not be admitted into the United States,” Pompeo said in a statement. “She does not have any legal basis, no valid U.S. passport, no right to a passport, nor any visa to travel to the United States. We continue to strongly advise all U.S. citizens not to travel to Syria.”

Muthana, 24, has pleaded with officials to let her back into the U.S. following her recent escape from ISIS and capture by Kurdish forces. She is being held in a refugee camp in northeast Syria and told The Guardian in an interview that her last four years with the terrorist group have been a traumatizing experience where “we starved and we literally ate grass."

“I would tell them please forgive me for being so ignorant, and I was really young and ignorant and I was 19 when I decided to leave,” she told the newspaper when asked if she had a message for American officials.

Muthana first made headlines in 2015 after it emerged that she left her family in Birmingham, Alabama to join the bloodthirsty terrorist group.

An attorney representing her parents at the time said Muthana was “brainwashed” over the Internet, according to the Associated Press, and that she went against her family’s wishes and the teachings of Islam by secretly boarding a plane to Turkey in late 2014 to link up with ISIS.

The attorney said it then, but it wasn’t until Sunday -- in her interview with The Guardian -- that Muthana admitted herself that she was “brainwashed” and made a “big mistake.”

“I thought I was doing things correctly for the sake of God,” she said, adding that she was “brainwashed once and my friends are still brainwashed.”

The newspaper says Muthana, during her time with ISIS, lived in their once-stronghold of Raqqa and was married to jihadists from Australia, Tunisia, and Syria – the first two of which have been killed in battle.

In 2015, Muthana reportedly operated a Twitter account and once tried to use it to incite Americans to commit acts of violence amongst themselves on national holidays.

“Americans wake up! Men and women altogether. You have much to do while you live under our greatest enemy, enough of your sleeping!” she once wrote, according to The Guardian. “Go on drivebys, and spill all of their blood, or rent a big truck and drive all over them. Veterans, Patriots, Memorial, etc day … Kill them.”

Muthana now has an 18-month-old son from one of her ISIS marriages. In her interview with The Guardian, Muthana also claims her parents were too strict on her in her upbringing, a factor that she says contributed to her decision to defect to ISIS.

“You want to go out with your friends and I didn’t get any of that,” she said. “I turned to my religion and went in too hard. I was self-taught and thought whatever I read, it was right."

Now Muthana is not allowed to leave the camp she is being held at and has to be escorted around by Kurdish fighters, more than 6,500 miles away from the Alabama city she once called home.

Fox News’ Greg Norman and Nick Kalman contributed to this report.

Source: Fox News Politics

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Labor Secretary Alex Acosta on Very Shaky Ground

The White House refused to voice "full confidence" in embattled Secretary of Labor Alex Acosta on Monday.

In fact, the lukewarm response by press secretary Sarah Sanders to Newsmax's question about Acosta's status in the president's Cabinet fueled ongoing speculation the secretary of labor was on the way out.

The president's top spokeswoman did not specifically mention widespread reports of then-U.S. Attorney Acosta's involvement in a 2007 plea deal for Florida billionaire Jeffrey Epstein on sex trafficking and alleged sex offenses.

Sanders did say, however, "[t]hose things [a reference to Acosta's work for Epstein] are currently under review. When we have an update, we'll let you know."

As for Acosta's present status in the Cabinet, Sanders simply said "I'm not aware of any personnel changes."

Late last year, the Miami Herald reported that as a top federal prosecutor, Acosta permitted Epstein to plead guilty to two felony prostitution charges and serve 13 months in the county jail (a sentence which permitted him to spend up to twelve hours a day in his Palm Beach office) and a year of probation.

Democrats in Congress, along with The New York Times' and the Miami Herald, have called on Acosta to resign as labor secretary.

John Gizzi is chief political columnist and White House correspondent for Newsmax. For more of his reports, Go Here Now.

Source: NewsMax Politics

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Chicago police officer shot in shoulder while serving warrant; 19-year-old woman charged

A 19-year-old woman is facing attempted murder and other charges after a Chicago police officer was shot Saturday night while serving a warrant, officials said.

Chicago police said in a news release that Emily Petronella was charged with aggravated assault of a peace officer, armed violence while discharging a weapon, aggravated discharge of a weapon at a peace officer and dealing more than 5,000 grams of cannabis in connection with the incident.

Officers were serving a search warrant just before 7:30 p.m. at the home in a neighborhood on the city's West Side when Petronella allegedly fired through a rear door, police said.

ILLINOIS DEPUTY WITH US MARSHALS FUGITIVE TASK FORCE FATALLY SHOT WHILE SERVING WARRANT, OFFICIALS SAY

Police spokesman Anthony Guglielmi said on Twitter the officer sustained a "serious injury" to his shoulder, and was transported to an area hospital where his condition was stabilized.

During a search of the home, officers recovered a large amount of cannabis, a semi-automatic pistol and large bundles of money from the scene, according to police. Petronella was then arrested and later charged.

SECOND DEFENDANT SENTENCED IN CASE THAT LED TO MOTORCYCLE COP'S DEATH

Police Superintendent. Eddie Johnson said that the 19-year-old had several encounters with law enforcement. Petronella was also free at the time on $10,000 bond stemming from a charge of a misdemeanor count of unlawful use of a weapon in February, the Chicago Sun-Times reported.

She is to appear in bond court Sunday.

CLICK HERE FOR THE FOX NEWS APP

Johnson said the officer had been with the department for more than four years and had served in the U.S. Marine Corps, FOX32 reported.

The Associated Press contributed to this report.

Source: Fox News National

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Great Lakes see 'superior' ice coverage, but it won't last

As ice coverage goes, it's Superior.

The Detroit Free Press reports Lake Superior was 94 percent ice covered as of Friday, marking first time the largest of the Great Lakes had more than 90 percent coverage in four years.

At this time last year, Superior was about half covered, and only 7 percent of the lake was covered at this time in 2017.

Similar ice coverage is reported on the four other Great Lakes. Lake Erie is at 94 percent coverage, Huron nearly 85 percent, Michigan roughly 40 percent and Ontario at 23 percent.

Climatologists say weather patterns consistently held frigid air over the region since late January. Warmer temperatures in the coming days will start to bring on a great melt.

Source: Fox News National

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The Wider Image: China's start-ups go small in age of 'shoebox' satellites
LinkSpace’s reusable rocket RLV-T5, also known as NewLine Baby, is carried to a vacant plot of land for a test launch in Longkou, Shandong province, China, April 19, 2019. REUTERS/Jason Lee

April 26, 2019

By Ryan Woo

LONGKOU, China (Reuters) – During initial tests of their 8.1-metre (27-foot) tall reusable rocket, Chinese engineers from LinkSpace, a start-up led by China’s youngest space entrepreneur, used a Kevlar tether to ensure its safe return. Just in case.

But when the Beijing-based company’s prototype, called NewLine Baby, successfully took off and landed last week for the second time in two months, no tether was needed.

The 1.5-tonne rocket hovered 40 meters above the ground before descending back to its concrete launch pad after 30 seconds, to the relief of 26-year-old chief executive Hu Zhenyu and his engineers – one of whom cartwheeled his way to the launch pad in delight.

LinkSpace, one of China’s 15-plus private rocket manufacturers, sees these short hops as the first steps towards a new business model: sending tiny, inexpensive satellites into orbit at affordable prices.

Demand for these so-called nanosatellites – which weigh less than 10 kilograms (22 pounds) and are in some cases as small as a shoebox – is expected to explode in the next few years. And China’s rocket entrepreneurs reckon there is no better place to develop inexpensive launch vehicles than their home country.

“For suborbital clients, their focus will be on scientific research and some commercial uses. After entering orbit, the near-term focus (of clients) will certainly be on satellites,” Hu said.

In the near term, China envisions massive constellations of commercial satellites that can offer services ranging from high-speed internet for aircraft to tracking coal shipments. Universities conducting experiments and companies looking to offer remote-sensing and communication services are among the potential domestic customers for nanosatellites.

A handful of U.S. small-rocket companies are also developing launchers ahead of the expected boom. One of the biggest, Rocket Lab, has already put 25 satellites in orbit.

No private company in China has done that yet. Since October, two – LandSpace and OneSpace – have tried but failed, illustrating the difficulties facing space start-ups everywhere.

The Chinese companies are approaching inexpensive launches in different ways. Some, like OneSpace, are designing cheap, disposable boosters. LinkSpace’s Hu aspires to build reusable rockets that return to Earth after delivering their payload, much like the Falcon 9 rockets of Elon Musk’s SpaceX.

“If you’re a small company and you can only build a very, very small rocket because that’s all you have money for, then your profit margins are going to be narrower,” said Macro Caceres, analyst at U.S. aerospace consultancy Teal Group.

“But if you can take that small rocket and make it reusable, and you can launch it once a week, four times a month, 50 times a year, then with more volume, your profit increases,” Caceres added.

Eventually LinkSpace hopes to charge no more than 30 million yuan ($4.48 million) per launch, Hu told Reuters.

That is a fraction of the $25 million to $30 million needed for a launch on a Northrop Grumman Innovation Systems Pegasus, a commonly used small rocket. The Pegasus is launched from a high-flying aircraft and is not reusable.

(Click https://reut.rs/2UVBjKs to see a picture package of China’s rocket start-ups. Click https://tmsnrt.rs/2GIy9Bc for an interactive look at the nascent industry.)

NEED FOR CASH

LinkSpace plans to conduct suborbital launch tests using a bigger recoverable rocket in the first half of 2020, reaching altitudes of at least 100 kilometers, then an orbital launch in 2021, Hu told Reuters.

The company is in its third round of fundraising and wants to raise up to 100 million yuan, Hu said. It had secured tens of millions of yuan in previous rounds.

After a surge in fresh funding in 2018, firms like LinkSpace are pushing out prototypes, planning more tests and even proposing operational launches this year.

Last year, equity investment in China’s space start-ups reached 3.57 billion yuan ($533 million), a report by Beijing-based investor FutureAerospace shows, with a burst of financing in late 2018.

That accounted for about 18 percent of global space start-up investments in 2018, a historic high, according to Reuters calculations based on a global estimate by Space Angels. The New York-based venture capital firm said global space start-up investments totaled $2.97 billion last year.

“Costs for rocket companies are relatively high, but as to how much funding they need, be it in the hundreds of millions, or tens of millions, or even just a few million yuan, depends on the company’s stage of development,” said Niu Min, founder of FutureAerospace.

FutureAerospace has invested tens of millions of yuan in LandSpace, based in Beijing.

Like space-launch startups elsewhere in the world, the immediate challenge for Chinese entrepreneurs is developing a safe and reliable rocket.

Proven talent to develop such hardware can be found in China’s state research institutes or the military; the government directly supports private firms by allowing them to launch from military-controlled facilities.

But it’s still a high-risk business, and one unsuccessful launch might kill a company.

“The biggest problem facing all commercial space companies, especially early-stage entrepreneurs, is failure” of an attempted flight, Liang Jianjun, chief executive of rocket company Space Trek, told Reuters. That can affect financing, research, manufacturing and the team’s morale, he added.

Space Trek is planning its first suborbital launch by the end of June and an orbital launch next year, said Liang, who founded the company in late 2017 with three other former military technical officers.

Despite LandSpace’s failed Zhuque-1 orbital launch in October, the Beijing-based firm secured 300 million yuan in additional funding for the development of its Zhuque-2 rocket a month later.

In December, the company started operating China’s first private rocket production facility in Zhejiang province, in anticipation of large-scale manufacturing of its Zhuque-2, which it expects to unveil next year.

STATE COMPETITION

China’s state defense contractors are also trying to get into the low-cost market.

In December, the China Aerospace Science and Industry Corp (CASIC) successfully launched a low-orbit communication satellite, the first of 156 that CASIC aims to deploy by 2022 to provide more stable broadband connectivity to rural China and eventually developing countries.

The satellite, Hongyun-1, was launched on a rocket supplied by the China Aerospace Science and Technology Corp (CASC), the nation’s main space contractor.

In early April, the China Academy of Launch Vehicle Technology (CALVT), a subsidiary of CASC, completed engine tests for its Dragon, China’s first rocket meant solely for commercial use, clearing the path for a maiden flight before July.

The Dragon, much bigger than the rockets being developed by private firms, is designed to carry multiple commercial satellites.

At least 35 private Chinese companies are working to produce more satellites.

Spacety, a satellite maker based in southern Hunan province, plans to put 20 satellites in orbit this year, including its first for a foreign client, chief executive Yang Feng told Reuters.

The company has only launched 12 on state-produced rockets since the company started operating in early 2016.

“When it comes to rocket launches, what we care about would be cost, reliability and time,” Yang said.

(Reporting by Ryan Woo; Additional reporting by Beijing newsroom; Editing by Gerry Doyle)

Source: OANN

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

April 26, 2019

By Patricia Weiss and Ludwig Burger

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

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

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

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

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

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

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

Bayer is appealing or plans to appeal the verdicts.

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

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

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

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

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

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

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

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

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

Source: OANN

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

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

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

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

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

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

Source: Fox News World

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

April 26, 2019

By Charlotte Greenfield

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

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

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

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

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

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

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

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

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

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

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

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

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

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

(Reporting by Charlotte Greenfield; Editing by Himani Sarkar)

Source: OANN

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

April 26, 2019

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

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

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

(Reporting by Muvija M in Bengaluru)

Source: OANN

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