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Wells Fargo in talks with ex-Goldman exec Schwartz to be its next CEO: New York Post

A Wells Fargo logo is seen in New York City
FILE PHOTO: A Wells Fargo logo is seen in New York City, U.S. January 10, 2017. REUTERS/Stephanie Keith

March 21, 2019

(Reuters) – Wells Fargo’s board is in talks with Harvey Schwartz, the former president and co-chief operating officer of Goldman Sachs, to take over as the bank’s next chief executive, the New York Post reported on Thursday, citing people briefed on the talks.

Schwartz is up against another serious candidate for Wells Fargo CEO Tim Sloan’s job, whose identity couldn’t immediately be learned, the newspaper reported citing one source close to the situation.

Shares of Wells Fargo pared some losses to trade down 1.5 percent at $49.62. The stock was earlier down 2.4 percent.

The bank was not immediately available for comment.

(Reporting by Diptendu Lahiri in Bengaluru)

Source: OANN

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Sudanese police disperse rally urging president’s ouster

Sudan's state-run news agency says police used tear gas to disperse anti-government protests in the capital, Khartoum, and other cities across the country.

SUNA quoted police spokesman Hashem Ali as saying that security forces on Sunday arrested a "number of protesters" and filed charges against them under emergency laws declared by President Omar al-Bashir in February.

Ali says police received reports of injuries both among policemen and protesters. He didn't elaborate.

Sudan has been gripped by nationwide protests since mid-December. Opposition parties and professional unions have called on al-Bashir to step down after three decades in power.

Price hikes and food shortages triggered the current wave of unrest. Al-Bashir's government has met the protests with a heavy-handed crackdown and banned unauthorized public gatherings.

Source: Fox News World

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Polish NGO leaves to deliver sex abuse report to Pope

FILE PHOTO: Pope Francis waves as he arrives to deliver the
FILE PHOTO: Pope Francis waves as he arrives to deliver the "Urbi et Orbi" message from the main balcony of Saint Peter's Basilica at the Vatican, December 25, 2018. REUTERS/Max Rossi/File Photo

February 18, 2019

WARSAW (Reuters) – Representatives of a Polish NGO helping victims of child abuse committed by Catholic priests left Warsaw early on Monday hoping to deliver a report to Pope Francis in the Vatican about Polish bishops neglecting pedophilia cases.

Their trip comes just days before an unprecedented Vatican conference on sex abuse gathering senior bishops from around the world to discuss how best the 1.3 billion-member Church can tackle a problem that has decimated the Church’s credibility.

The four-day meeting, starting on Thursday with the theme of “prevention of abuse of minors and vulnerable adults”, is intended to help faltering attempts to coordinate a global response to a crisis that is now more than two decades old.

The “Have No Fear” organization, led by a former victim Marek Lisinski, hopes that the report, which accuses some bishops in devoutly Catholic Poland of failing to report crimes, will trigger resignations from top positions in the Church.

Such a development happened in Chile in 2018, where the Pope accepted resignations of several bishops after abuse scandals.

“Our report contains the neglect of bishops over the past years. … We hope that the Pope, after reading this report, will react in the same way as in Chile,” Lisinski told Reuters at Warsaw airport as he was just about to get onto the plane.

Mariusz Milewski, 28, was a victim of sexual abuse by a priest in a tiny town 101 miles (163 km) north-west of Warsaw, with the first incident taking place when he was nine. He went on to be abused regularly by a priest for nine years.

“Every time I went to the church I was afraid that the priest will invite me to the presbytery, where he did these things to me,” he told Reuters in a televised interview.

“I was from a poor family, my father overused alcohol. I was alone with this, and I had no one I could ask for help. I was blaming myself and asking myself if he does it to me because of my sins,” Mariusz said.

The perpetrator was jailed in 2014 for three years by a criminal court, after a canonical court declared him not guilty, according to documents seen by Reuters. Critics say this shows the Church often defends the perpetrators of abuse.

In Poland victims of abuse by priests are often accused by society of making false accusations, even long after the offender is jailed, since priests have high social prestige.

(Reporting by Karol Witenberg and Marcin Goclowski, Editing by William Maclean)

Source: OANN

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FSU’s Cofer of father: ‘I will miss him dearly’

NCAA Basketball: NCAA Tournament-Hartford Practice
Mar 20, 2019; Hartford, CT, USA; Florida State Seminoles forward Phil Cofer (0) speaks with the media before a practice in the first round of the 2019 NCAA Tournament at XL Center. Mandatory Credit: Robert Deutsch-USA TODAY Sports

March 24, 2019

Florida State forward Phil Cofer made his first statement about his father’s death this week, saying he “will miss him dearly.”

Cofer’s statement is posted on the GoFundMe page he started to raise money for his father’s funeral and lingering medical expenses.

“On Thursday March 21st, moments after my team’s win in the first round of the 2019 NCAA tournament, celebration turned into devastation as I received a phone call that would change my life forever,” Cofer wrote. “My dad, Michael Cofer, had passed due to a battle with a long-term illness. My dad has always supported me on and off the court and I will miss him dearly.”

The elder Cofer, 58, was a former NFL linebacker who played 10 seasons (1983-1992) for the Detroit Lions.

The Detroit Free Press said the cause of death was a rare disease, which it did not name, that affects organs and tissue.

“My family has been overwhelmed by the outpouring of support and now humbly asks for the community’s help with our existing and continuing expenses,” Phil Cofer continued in the GoFundMe post. “All proceeds from this fundraiser will go toward my Dad’s funeral expenses and my family’s outstanding and ongoing medical costs. My family will contribute any donations that exceed our funeral and medical needs toward a charitable organization.”

As of Saturday afternoon, nearly $31,000 of the campaign’s $100,000 goal had been raised. The NCAA and Florida State’s compliance department gave the go-ahead for the fundraiser.

Phil Cofer did not play Thursday against Vermont because of a right foot injury, but coach Leonard Hamilton said Cofer would be with the team Saturday night when the Seminoles face Murray State at Hartford, Conn.

Injuries limited Cofer, a senior, to 22 games (19 starts) this season. He is averaging 7.4 points and 26.1 minutes per game.

–Field Level Media

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Russia’s Deripaska sues U.S. over sanctions: court filing

Russian aluminium tycoon Deripaska and Industry and Trade Minister Manturov arrive for the talks of Russian President Putin with South Korean President Moon in Moscow
FILE PHOTO: Russian aluminium tycoon Oleg Deripaska and Industry and Trade Minister Denis Manturov arrive for the talks of Russian President Vladimir Putin with South Korean President Moon Jae-in at the Kremlin in Moscow, Russia June 22, 2018. REUTERS/Sergei Karpukhin

March 15, 2019

WASHINGTON (Reuters) – Russian tycoon Oleg Deripaska sued the United States on Friday, alleging that it had overstepped its legal bounds in sanctioning his companies and made him the “latest victim” in the ongoing U.S. probe into Moscow’s alleged political interference.

In a legal filing, Deripaska asked the U.S. District Court in Washington to block the U.S. Treasury Department from using the “devastating power” of such economic sanctions that he said were inconsistent with U.S. Constitution.

(Reporting by Nathan Layne and Susan Heavey)

Source: OANN

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DNC member on Omar: Resolution 'impacts us all'

Democratic strategist Robert Zimmerman defended the resolution condemning all forms of hate passed by Congress Thursday, saying it “impacts us all” and dismissing criticism that Rep. Ilhan Omar, D-Minn., is getting off the hook for her comments critical of Israel and its supporters.

“I think it was critical to stand together, make it clear that the assault on the Jewish community, repeating of hateful Jewish tropes, repeating of anti-Semitic rhetoric is very much in common with the hate against the Muslim community, very much in common with attacks on the Hindu and Sikh community and the Catholic community,” Zimmerman said on “The Story with Martha MacCallum.”

Omar has been the focus of controversy for her alleged anti-semitic remarks.

DEM FROSH TURN TABLES ON ANTI-SEMITISM REBUKE, SHIFT SPOTLIGHT TO ISLAMOPHOBIA AND AIPAC POWER

Initially, Democrats were weighing a rebuke of rebuke of Omar, even though the measure did not mention her name.  They later softened their stance and included other forms of hate in the language of the measure, choosing not to focus on Omar’s comments.

House Speaker Nancy Pelosi, D-Calif, defended Omar Friday, saying she did not believe the congresswoman was anti-semitic.

“I don’t think our colleague is anti-Semitic, I think she has a different experience in the use of words, doesn’t understand that some of them are fraught with meaning that she didn’t realize,” Pelosi said Friday at the Economic Club.

MacCallum pressed Zimmerman to move past highlighting the resolution and address Omar’s remarks.

“The issue here is that it looks like she and her group are winning, Bob,” MacCallum said.

“This is not a partisan game,” the Democratic National Committee member responded, highlighting the resolution for fighting against all forms of hate.

I'M A MUSLIM WHO'S ANGRY AT DEMS' FAILURE TO CONDEMN ANTI-SEMITE OMAR – THEY BETRAYED LOYAL JEWISH SUPPORTERS

“It’s about being fair and holding all parties accountable. Where was Donald Trump when he engaged in his anti-Semitic rhetoric?” Zimmerman said before radio talk show host Tammy Bruce opined that Omar’s comments would hurt the Democratic Party.

Source: Fox News Politics

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Australian PM visits governor-general amid election speculation

FILE PHOTO - Prime Minister Morrison speaks to the media during a press conference at Parliament House in Canberra
FILE PHOTO - Prime Minister Scott Morrison speaks to the media during a press conference at Parliament House in Canberra, Australia, March 20, 2019. AAP Image/Andrew Taylor/via REUTERS

April 10, 2019

SYDNEY (Reuters) – Australian Prime Minister Scott Morrison visited the country’s governor general at his residence in the capital Canberra on Thursday, television networks reported, an indication that he may be about to call a general election.

Governor General Peter Cosgrove represents Britain’s Queen Elizabeth and his authorization is necessary to dissolve parliament and order a general election.

Term limits mean the poll must be held in May. Morrison’s center-right coalition is trailing the opposition Labor party in opinion polls, suggesting a landslide loss for the government.

(Reporting by Tom Westbrook; editing by Darren Schuettler and Sandra Maler)

Source: OANN

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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)

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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)

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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)

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