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OxyContin Producer Reaches $270 Million Settlement in Opioid Crisis Suit – Source

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Source: InfoWars

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Dems playing politics with disaster relief funds for Midwest, Republicans say

Senate Republicans on Monday blasted their Democratic colleagues for blocking a disaster relief bill that was intended to help Midwestern regions affected by flooding because it supposedly didn’t go far enough to help Puerto Rico.

The bill, originally sponsored by Sen. David Perdue, R-Ga., proposed $13.5 billion in relief funding for areas recently hit by natural disasters. The 44-49 vote fell short of a majority, and far short of the 60 votes needed to overcome a Democratic filibuster.

PUERTO RICO GOVERNOR CAUTIONS WHITE HOUSE: 'IF THE BULLY GETS CLOSE, I'LL PUNCH THE PULLY IN THE MOUTH'

Democrats want to add almost $700 million more to unlock further disaster aid for Puerto Rico and several states, including help to rebuild badly damaged water systems. Democrats are also trying to force the Trump administration to release billions of dollars in rebuilding funds that have already been approved.

Republicans accused Democrats of playing partisan politics.

“Disaster funding should not be a partisan issue, yet for months, Congress has repeatedly played politics with much-needed aid at the expense of local communities in Florida, Puerto Rico, and around the nation that are struggling to recover,” tweeted Sen. Marco Rubio, R-Fla.

Sen. Chuck Grassley, R-Iowa, said the proposed funding “would not have left anyone in the lurch from Iowa to Puerto Rico.” He accused the Democrats of being hypocritical for decrying “Washington political games while on the campaign trail in Iowa, but then return to the Capitol only to play political games themselves.”

Senate Majority Leader Mitch McConnell, R-Ky., accused Democrats of holding up relief funds and argued that another relief package passed in the House earlier this year would be vetoed by the president.

"This is no time for my colleagues across the aisle to prioritize a political fight with the president ahead of the urgent needs of communities across America,” McConnell said before the vote Monday.

"This is no time for my colleagues across the aisle to prioritize a political fight with the president ahead of the urgent needs of communities across America.”

— Senate Majority Leader Mitch McConnell, R-Ky.
FILE: An aerial view of Offutt Air Force Base and surrounding areas in Nebraska affected by flood waters. 

FILE: An aerial view of Offutt Air Force Base and surrounding areas in Nebraska affected by flood waters.  (Tech. Sgt. Rachelle Blake/U.S. Air Force via AP)

TRUMP MOVES TO CUT AID TO CENTRAL AMERICA, AMID CARAVANS AND FLOOD OF REFUGEES

President Trump, who has openly criticized Puerto Rico’s government, has denied Democratic demands for more aid to the U.S. territory, which was slammed by back-to-back hurricanes in 2017.

Trump fired off a round of tweets Monday in which he criticized Puerto Rico’s government for incompetence and corruption.

“The people of Puerto Rico are GREAT, but the politicians are incompetent or corrupt. Puerto Rico got far more money than Texas & Florida combined, yet their government can’t do anything right, the place is a mess – nothing works.”

Trump said last week that his administration had sent $91 billion to Puerto Rico, while only $29 billion had gone to Texas and $12 billion to Florida for the hurricane.

"(Puerto Rico) has to spend the money wisely," Trump said. "They don't know how to spend the money and they're not spending it wisely."

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The path forward is not clear, but a leading option is for the Senate to pass a much more narrowly drawn bill simply to get the issue into a House-Senate conference committee. House Democrats insist the talks must produce a final measure with help for Puerto Rico.

Fox News' Chad Pergram and The Associated Press contributed to this report.

Source: Fox News Politics

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Family Flees to Poland After Sweden Gives Kids to Muslim Foster Parents

The Swedish social services’ decision to place three Christian girls in a Muslim Lebanese family has resulted in an international scandal, involving Poland.

After the Swedish social services attempted to place Denis Lisov’s three children in a Muslim foster family, the Russian father took his daughters and fled Sweden, unleashing a thriller-like sequence of events.

Denis Lisov came to Sweden seven years ago. In 2017, his wife fell ill, whereupon social services decided to take away his children on the grounds that he had no full employment and was therefore unable to take care of them. Instead, they were placed in a Muslim Lebanese family. Lisov’s family formally retained the custody of the children, but only had the right to see them six hours a week, the Swedish news outlet Samhällsnytt reported.

According to Babken Khanzadyan, who represents the Lisovs, they weren’t given any opportunity to defend their rights, and the girls didn’t want to stay there.


Groundbreaking report revealing disturbing intel from Europe.

After his daughters had spent over a year in the Muslim family, about 300 kilometers from their real father, Denis had had enough. He took his daughters and decided to return to Russia. However, he was stopped at Warsaw airport, as the Swedish authorities reported his daughters missing. Therefore, he has applied for asylum in Poland instead.

A Polish court ruled that the Swedish social service had violated an EU convention that forbids the placement of children in foreign cultural environments. The court also noted that Lisov’s paternity rights had not been revoked, which is why the children could stay with their father.

“The children have a very strong bond with the father, and when I talked to them they told me that they want to stay with their father and love him and do not want to be separated from him” judge Janeta Seliga-Kaczmarek said, as quoted by Samhällsnytt.

According to Lisov, the youngest girls didn’t understand anything, but the eldest one had problems adapting to the harsh environment of the Muslim family.

Their lawyer Bartosz Lewandowski tweeted that the family was happy and rested after the first night spent on their own.

​According to Lewandowski, the Muslim foster father also appeared in court. There, he admitted that his visit to Poland had been paid for by the Swedish social services, Samhällsnytt reported.

Lewandowski also tweeted that a representative of the Swedish social services arrived to pick up the three girls, but was stopped by the police. He told them something in Swedish, which nobody understood.

“3 Russian girls were to be illegally taken away from their father by Swedish officials on Polish soil”, lawyer Jerzy Kwaśniewski tweeted.

​”Poland is a beautiful country. It is blossoming in my eyes, because here can finally be with Dad”, Sofia Lisova, Denis’s eldest daughter said after the court’s verdict, as quoted by Artur Stelmasiak, the editor of the Catholic weekly Niedziela.

The court’s actions were also praised by Poland’s authorities.

“The court has decided that the children stay with their father. Well done the police and the border police”, Polish Interior Minister Joachim Brudziński tweeted.

In Sweden, the social services have the possibility of immediately taking children and young people up to the age of 19 by force owing to legislation in place to intervene in order to protect children or youths in an emergency situation. Why exactly the social services decided to take away Lisov’s daughters remains unknown.


Alex Jones breaks down how the globalists are attempting to collapse civilization within the next six months by intensifying their migrant fueled destabilization of the west.

Source: InfoWars

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Biden Has the Best Shot at Beating Trump

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WASHINGTON -- Joe Biden begins his presidential campaign with a lead over the crowded Democratic field and a simple message the nation can immediately grasp: I can stop the madness. I can beat Donald Trump.

That doesn't mean Biden will necessarily win the nomination, which depends on a host of factors, including how well the 76-year-old former vice president performs -- and whether a party eager to turn a generational page is willing to embrace him. Age is an issue for Biden, no question. But at least he can boast of being younger than his closest competitor in the polls, Sen. Bernie Sanders, who is 77.

As he makes his announcement, according to the Real Clear Politics average of national polls, Biden leads all comers with the support of 29.3% of Democratic voters. Sanders is second at 23% -- with everyone else far behind.

Four candidates who are bunched between 8.3% and 6.3% in the RCP poll average -- Sen. Kamala Harris, Mayor Pete Buttigieg, Sen. Elizabeth Warren and former congressman Beto O'Rourke -- might be considered a second tier, I suppose. But at this point it's a pretty low tier. If the race were a skyscraper, that group would be on the mezzanine -- with Sen. Cory Booker struggling to join them. Sen. Amy Klobuchar, Sen. Kirsten Gillibrand, former Secretary of Housing and Urban Development Julian Castro and the rest of the multitude remain stuck, for now, on the ground floor.

State polls tell much the same story. Warren did well earlier this month in a poll of Democrats in her home state of Massachusetts, as did Harris in a poll in her home state of California. But in those surveys, as in all others I can find, Biden and Sanders were well ahead of the pack.

Familiarity has a lot to do with it -- Biden has been on the national stage since before most Americans were born, and Sanders came close to beating Hillary Clinton for the nomination in 2016. Things could change dramatically after the debates begin and voters get to know the cast of characters.

But my guess is that electability, or perceived electability, is also playing a role in boosting Biden to an early lead. The one thing that must be accomplished in 2020 is the defeat of President Trump. In the announcement video he posted on social media Thursday, Biden called it a "battle for the soul of this nation." He said the question was whether Trump's tenure would turn out to be an "aberrant moment in time" or an eight-year presidency that "forever and fundamentally" coarsened, cheapened and divided our society.

Biden's video focused on Trump's reaction to the 2017 rally of white supremacists, neo-Nazis and Ku Klux Klan members in Charlottesville, which led to the murder of an innocent counterprotestor, Heather Heyer. Trump reacted by saying there were "some very fine people on both sides."

At that point, Biden said, "I knew the threat to this nation was unlike any I had seen in my lifetime." He said that is why he is running for president.

Conventional wisdom holds that the Democratic candidates can't just be anti-Trump -- that they must talk primarily about bread-and-butter issues such as health care, the opioid crisis and the hollowing out of the working class. Indeed, Democrats do have to offer solutions. But to be silent about Trump is to tiptoe around the elephant in the parlor. The single biggest issue, for the health and prosperity of the nation, is getting him out of office.

We will hear much in the coming months about which candidates appeal to which components of the electorate. Biden potentially could do very well with two widely disparate groups in particular -- the white working-class voters in the Rust Belt who gave Trump his 2016 victory; and the African Americans without whose support no one can win the Democratic presidential nomination.

But is he too moderate for a party that has moved leftward in recent years? I think Biden should invite a group of the fiery first-term Democratic women in the House to lunch. Instead of trying to hug them, he should listen to what they have to say. If he fails to make a real effort to understand how the party has changed, his first day on the campaign trail may turn out to have been his best day.

There's nothing wrong with his calculation of the stakes, however. The Democratic nominee has to be someone who can stand up to Trump and ultimately beat him. Biden says that's what he'll do.

(c) 2019, Washington Post Writers Group

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Big brands dive into esports to court youth market: Nielsen

ESL One - Dota 2 Major
FILE PHOTO: Esports - ESL One - Dota 2 Major - Arena Birmingham, Birmingham, Britain - May 26, 2018 General view as fans watch on Action Images via Reuters/Ed Sykes

April 24, 2019

By Hilary Russ

NEW YORK (Reuters) – From snack companies to carmakers, a wide range of brands is trying to reach one of the hottest demographic groups around: esports fans.

Those brands are finding their footing with 39 percent of brand exposure in esports’ competitive video game broadcasts coming from non-gaming related companies in 2018, Nielsen said in a report on Wednesday.

“Over all forms of entertainment, their biggest passion is video games,” Nicole Pike, Managing Director of Nielsen Esports, said of enthusiasts of professional video gaming.

Such companies are called “non-endemic” since they are not as naturally aligned with esports as those that manufacture gaming computers, consoles, chairs and other gear, for instance.

The list of non-endemic brands in the sector and already includes State Farm, Disney, Spotify, Toyota, Mastercard, Cheez-It, Hershey, Chipotle, Sephora , Wendy’s and Head & Shoulders, and is getting longer.

Viewership of esports – when fans watch in person or online as professional video game players compete – is expanding.

The bulk of fans are typically between 18 and 35 years old, referred to in the Nielsen report by esports sponsor Doritos as “emerging adults.”

They have more disposable income than other sports fans and many have cut the cord to traditional media.

In fact, 61 percent of esports viewers on Twitch, a main platform for watching esports streams, do not watch television on a weekly basis, according to Nielsen, making traditional forms of marketing a challenge.

Reaching out through esports does seem to work, since 90 percent of Twitch’s esports viewers can name at least one non-endemic sponsor, Nielsen found.

Brands seen as authentically interested in the space fare better than those that just slap their logo on a jersey, advertising and esports experts say.

PepsiCo’s Doritos, for instance, sponsored a “Doritos Bowl” hosted by Twitch for a Call of Duty battle royale tournament between top streamers.

Fans watched nearly 550,000 combined hours of that tournament, Nielsen said.

When 20th Century Fox wanted to promote the digital release of its movie “Deadpool 2 Super Duper Cut,” it turned to the gaming advertising and talent agency Ader.

Ader partnered with top Fortnite influencer DrLupo and also created new custom designed Deadpool “emotes” – essentially emoji characters – that viewers use in Twitch chat windows.

An influx of non-endemic brands also adds credibility to the evolving esports ecoystem, said Chad De Luca, head of gaming and esports at Publicis Sport & Entertainment.

“It is a mark of approval from a blue-chip company,” he said.

(Reporting by Hilary Russ, editing by G Crosse)

Source: OANN

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Killed by cholera, Yemeni doctor knew he was fighting ‘disastrous’ epidemic

Woman looks from outside a tent where patients receive medical care at a cholera treatment center in Sanaa
A woman looks from outside a tent where patients receive medical care at a cholera treatment center in Sanaa, Yemen March 10, 2019. REUTERS/Khaled Abdullah

April 1, 2019

By Abdulrahman al-Ansi

SANAA (Reuters) – Yemeni doctor Mohammed Abdul-Mughni described the surge in cholera cases he was treating as “disastrous” in a country battered by years of war and short of medical staff.

Two weeks later cholera killed him too.

Yemen is suffering its third major outbreak of the water-borne bacterial infection since the conflict broke out in 2015, causing the world’s most urgent humanitarian crisis that has put 10 million people on the brink of famine.

The disease is spreading like “wild-fire”, according to the United Nations which recorded 110,000 suspected cholera cases and 200 deaths in three months.

Abdul-Mughni had been working in a temporary diarrhea treatment center in the grounds of a hospital in Sanaa where around 120-150 severe cases arrive every day.

“We are taking in patients around the clock, constantly … Cholera is spreading widely now,” said Ismail Mansoury, a doctor who worked alongside him. “In the past two weeks we have admitted around 1,100 confirmed cholera cases.”

Cholera causes profuse diarrhea and fluid loss which can kill within hours. Children, the elderly and those weakened by years of poor nutrition are most at risk.

The center outside the capital’s Sabaeen hospital has tents, outdoor toilets and overworked staff. Listless women on drips take up every spot of available shade. Elderly ladies and children lie on gravel. A man helps a boy up a large step to use a latrine.

Many of those arriving are in shock or have kidney failure, with veins so shriveled by dehydration it is difficult to insert a needle to administer lifesaving fluids.

The four-year-old war that pits the Iran-aligned Houthi movement against the Saudi-backed Yemeni government has crippled the healthcare system and economy, forcing people to travel long distances to seek medical care.

“HARDLY A DROP OF WATER”

Mona Ali’s 70-year-old mother-in-law traveled 25 km (15 miles) to the hospital in a minibus after three days of uncontrollable diarrhea and vomiting.

Ali, who herself had cholera two months ago and recovered at home, said the family was extremely poor and had to take a loan to bring her mother-in-law on the bus.

“We survive off yoghurt … If there was food the body would be stronger,” she said.

Water resources are scarce in the poorest Arabian peninsula nation and pumps are needed in many parts of the country of 30 million people to bring water to the surface. Fuel shortages have dramatically increased the price of clean water.

Ali said her village cannot afford the diesel needed to pump underground water. “We end up taking it from the wells, even though there is hardly a drop of water in them and it harms us,” she said.

The outbreak coincides with an early start to Yemen’s rainy season, but is also a sign of the war’s degradation of public infrastructure.

“There is an issue with waste disposal in the country. We know that many communities don’t have proper sewerage water systems in place. That sewage water is being used for irrigation and other purposes,” World Health Organization spokesman Tarik Jasarevic said.

Increased awareness about the disease could also account for more reported cases this year, he added.

In a bid to stem the disease’s spread, diggers have been removing garbage from storm drains in Sanaa and workers are spraying streets, drains and trash piles with disinfectant.

Plagued by decades of instability, Yemen’s latest conflict began in late 2014 when Houthi forces drove the government of President Abd-Rabbu Mansour Hadi out of Sanaa. A Saudi-backed alliance of Yemeni and Arab forces intervened in March 2015 to restore Hadi’s government.

The Houthis, who say their revolution is against corruption, control Sanaa and most population centers.

The war has cut transport routes for aid, fuel and food, reduced imports and caused severe inflation. Households have lost incomes because public sector wages are not being paid and conflict has forced people from their homes and jobs.

Mohammad Habab, a 34-year-old university-educated father of three, still works in a state pharmaceutical company but receives no salary.

His three-year-old daughter Zainab was hooked up to an outdoor drip 80 km from home after developing cholera symptoms that Habab blames on a lack of clean water and nutritious food.

The U.N. and aid agencies are stepping up their response, but conditions and access within the country remain challenging.

“We are working to the extremes of our strength,” Abdul-Mughni told Reuters before his death.

(Reporting by Abdulrahman al-Ansi in Sanaa Additional reporting by Reuters TV in Yemen and Marina Depetris in Geneva; Writing by Lisa Barrington; Editing by Robin Pomeroy)

Source: OANN

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German industrial output falls unexpectedly in January

FILE PHOTO: Aerial view of containers at a loading terminal in the port of Hamburg
FILE PHOTO: Aerial view of containers at a loading terminal in the port of Hamburg, Germany August 1, 2018. REUTERS/Fabian Bimmer/File Photo

March 11, 2019

BERLIN (Reuters) – German industrial output fell unexpectedly in January, marking a weak start to the year for the engine room of Europe’s largest economy, which is suffering from trade friction and Brexit angst after narrowly avoiding recession last year.

Industrial output was down 0.8 percent, compared to a forecast 0.5 percent increase, data from the Statistics Office showed.

Seasonally adjusted exports were flat month-on-month – compared to a forecast 0.5 percent contraction – while imports rose 1.5 percent. That meant the trade surplus narrowed to 18.5 billion euros.

(Reporting by Michael Nienaber; Editing by Michelle Martin)

Source: OANN

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Britain's Chancellor of the Exchequer Philip Hammond looks on during an interview with Reuters at the British Ambassador's residence in Beijing
Britain’s Chancellor of the Exchequer Philip Hammond looks on during an interview with Reuters at the British Ambassador’s residence in Beijing, China April 26, 2019. REUTERS/Florence Lo/Pool

April 26, 2019

BEIJING (Reuters) – British finance minister Philip Hammond said on Friday that he had a “very constructive meeting” with his counterpart in the opposition Labour Party before leaving for Beijing and that he was optimistic about finding common ground.

Hammond, speaking on the sidelines of a summit on China’s Belt and Road initiative in Beijing, said talks with Labour aimed at finding a way forward on Brexit had not stalled.

“I’m optimistic that we will find common ground,” he said. “Both sides have got clear positions and both sides will have to compromise in order to reach an agreement.”

Hammond added that he absolutely did not favor a no deal exit from the European Union.

(Reporting by Ben Blanchard; editing by Darren Schuettler)

Source: OANN

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Police secure the area where the body of a woman was discovered near the village of Orounta
Police secure the area where the body of a woman was discovered near the village of Orounta, Cyprus, April 25, 2019. REUTERS/Stefanos Kouratzis

April 26, 2019

NICOSIA (Reuters) – Cypriot police searched on Friday for more victims of a suspected serial killer, in a case which has shocked the Mediterranean island and exposed the authorities to charges of “criminal indifference” because the dead women were foreigners.

The main opposition party, the left-wing AKEL, called for the resignation of Cyprus’s justice minister and police chief.

Police were combing three different locations west of the capital Nicosia for victims of the suspected killer, a 35-year-old army officer who has been in detention for a week.

The bodies of three women, including two thought to be from the Philippines, have been recovered. Police sources said the suspect had indicated the location of the third body, found on Thursday, and had said the person was “either Indian or Nepali”.

Police said they were searching for a further four people, including two children, based on the suspect’s testimony.

“These women came here to earn a living, to help their families. They lived away from their families. And the earth swallowed them, nobody was interested,” AKEL lawmaker Irene Charalambides told Reuters.

“This killer will be judged by the court but the other big question is the criminal indifference shown by the others when the reports first surfaced. I believe, as does my party, that the justice minister and the police chief should resign. They are irrevocably exposed.”

Police have said they will investigate any perceived shortcomings in their handling of the case.

One person who did attempt to alert the authorities over the disappearances, a 70-year-old Cypriot citizen, said his motives were questioned by police.

The bodies of the two Filipino women reported missing in May and August 2018 were found in an abandoned mine shaft this month. Police discovered the body of the third woman at an army firing range about 14 km (9 miles) from the mine shaft.

Police are now searching for the six-year-old daughter of the first victim found, a Romanian mother who disappeared with her eight-year-old child in 2016, and a woman from the Phillipines who vanished in Dec. 2017.

The suspect has not been publicly named, in line with Cypriot legal practice.

A public vigil for the missing was planned later on Friday.

(Reporting By Michele Kambas; Editing by Gareth Jones)

Source: OANN

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An employee looks up at goods at the Miniclipper Logistics warehouse in Leighton Buzzard
FILE PHOTO: An employee looks up at goods at the Miniclipper Logistics warehouse in Leighton Buzzard, Britain December 3, 2018. REUTERS/Simon Dawson

April 26, 2019

LONDON, April 26 – British factories stockpiled raw materials and goods ahead of Brexit at the fastest pace since records began in the 1950s, and they were increasingly downbeat about their prospects, a survey showed on Friday.

The Confederation of British Industry’s (CBI) quarterly survey of the manufacturing industry showed expectations for export orders in the next three months fell to their lowest level since mid-2009, when Britain was reeling from the global financial crisis.

The record pace of stockpiling recorded by the CBI was mirrored by the closely-watched IHS Markit/CIPS purchasing managers’ index published earlier this month.

(Reporting by Andy Bruce, editing by David Milliken)

Source: OANN

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Malaysian Prime Minister Mahathir Mohamad speaks at the opening ceremony for the second Belt and Road Forum in Beijing
Malaysian Prime Minister Mahathir Mohamad speaks at the opening ceremony for the second Belt and Road Forum in Beijing, China April 26, 2019. REUTERS/Florence Lo

April 26, 2019

KUALA LUMPUR (Reuters) – Fewer than half of Malaysians approve of Prime Minister Mahathir Mohamad, an opinion poll showed on Friday, as concerns over rising costs and racial matters plague his administration nearly a year after taking office.

The survey, conducted in March by independent pollster Merdeka Center, showed that only 46 percent of voters surveyed were satisfied with Mahathir, a sharp drop from the 71 percent approval rating he received in August 2018.

Mahathir’s Pakatan Harapan coalition won a stunning election victory in May 2018, ending the previous government’s more than 60-year rule.

But his administration has since been criticized for failing to deliver on promised reforms and protecting the rights of majority ethnic Malay Muslims.

Of 1,204 survey respondents, 46 percent felt that the “country was headed in the wrong direction”, up from 24 percent in August 2018, the Merdeka Center said in a statement. Just 39 percent said they approved of the ruling government.

High living costs remained the top most concern among Malaysians, with just 40 percent satisfied with the government’s management of the economy, the survey showed.

It also showed mixed responses to Pakatan Harapan’s proposed reforms.

Some 69 percent opposed plans to abolish the death penalty, while respondents were sharply divided over proposals to lower the minimum voting age to 18, or to implement a sugar tax.

“In our opinion, the results appear to indicate a public that favors the status quo, and thus requires a robust and coordinated advocacy efforts in order to garner their acceptance of new measures,” Merdeka Center said.

The survey also found 23 percent of Malaysians were concerned over ethnic and religious matters.

Some groups representing Malays have expressed fear that affirmative-action policies favoring them in business, education and housing could be taken away and criticized the appointments of non-Muslims to key government posts.

Last November, the government reversed its pledge to ratify a UN convention against racial discrimination, after a backlash from Malay groups.

Earlier this month, Pakatan Harapan suffered its third successive loss in local elections since taking power, which has been seen as a further sign of waning public support.

Despite the decline, most Malaysians – 67 percent – agreed that Mahathir’s government should be given more time to fulfill its election promises, Merdeka Center said.

This included a majority of Malay voters who were largely more critical of the new administration, it added.

(Reporting by Rozanna Latiff; Editing by Nick Macfie)

Source: OANN

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The German share price index DAX graph at the stock exchange in Frankfurt
The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, April 25, 2019. REUTERS/Staff

April 26, 2019

By Medha Singh and Agamoni Ghosh

(Reuters) – European shares slipped on Friday after losses in heavyweight banks and Glencore outweighed gains in healthcare and auto stocks, while investors remained on the sidelines ahead of U.S. economic data for the first quarter.

The pan-European STOXX 600 index was down 0.1 percent by 0935 GMT, eyeing a modest loss at the end of a holiday-shortened week. Banks-heavy Italian and Spanish indices were laggards.

The banking index fell for a fourth day, at the end of a heavy earnings week for lenders.

Britain’s Royal Bank of Scotland tumbled after posting lower first quarter profit, hurt by intensifying competition and Brexit uncertainty, while its investment bank also registered poor returns.

Weakness in investment banking also dented Deutsche Bank’s quarterly trading revenue and sent its shares lower a day after the German bank abandoned merger talks with smaller rival Commerzbank.

“The current interest rate environment makes it challenging for banks to make proper earnings because of their intermediary function,” said Teeuwe Mevissen, senior market economist eurozone, at Rabobank.

Since the start of April, all country indexes were on pace to rise between 1.8 percent and 3.4 percent, their fourth month of gains, while Germany was strongly outperforming with 6 percent growth.

“For now the current sentiment is very cautious as markets wait for the first estimates of the U.S. GDP growth which could see a surprise,” Mevissen said.

U.S. economic data for the first-quarter is due at 1230 GMT. Growth worries outside the United States resurfaced this week after South Korea’s economy unexpectedly contracted at the start of the year and weak German business sentiment data for April also disappointed.

Among the biggest drags on the benchmark index in Europe were the basic resources sector and the oil and gas sector, weighed down by Britain’s Glencore and France’s Total, respectively.

Glencore dropped after reports that U.S authorities were investigating whether the company and its subsidiaries violated certain provisions of the commodity exchange act.

Energy major Total said its net profit for the first three months of the year fell compared with a year ago due to volatile oil prices and debt costs.

Chip stocks in the region including Siltronic, Ams and STMicroelectronics lost more than 1 percent after Intel Corp reduced its full-year revenue forecast, adding to concerns that an industry-wide slowdown could persist until the end of 2019.

Meanwhile, healthcare, which is also seen as a defensive sector, was a bright spot. It was helped by French drugmaker Sanofi after it returned to growth with higher profits and revenues for the first-quarter.

Luxembourg-based satellite operator SES led media stocks higher after it maintained its full-year outlook on the back of the company’s Networks division.

Automakers in the region rose 0.4 percent, led by Valeo’s 6 percent jump as the French parts maker said its performance would improve in the second half of the year.

Continental AG advanced after it backed its outlook for the year despite reporting a fall in first-quarter earnings.

Renault rose more than 3 percent as it clung to full-year targets and pursues merger talks with its Japanese partner Nissan.

(Reporting by Medha Singh and Agamoni Ghosh in Bengaluru; Editing by Gareth Jones and Elaine Hardcastle)

Source: OANN

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