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European shares weak as banks, Glencore weigh; U.S. GDP in focus

April 26, 2019

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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Museum Forced to Adopt ‘Gender Neutral’ Pronouns For Ships After Offended SJWs Vandalize Signs

April 25, 2019

A maritime museum in Scotland has been forced to change the pronouns of its ships to reflect ‘gender neutral’ codes of political correctness after offended SJWs vandalized signs for the second year in a row.

Yes, really.

Despite vessels being traditionally called female names, David Mann, director of the maritime museum, in Irvine, Scotland, said they would now have to be “gender neutral” because vandals targeted their “very expensive” signs once again.

The signs were attacked in places where they used the words “she” and “her”. Perhaps the vandals were upset that the ships had not been asked what gender they identified as beforehand.

Admiral Lord Alan West slammed the entire farce as “absolutely stupid,” noting that ships had been referred to as “she” for decades.

“It’s stark staring bonkers and political correctness gone mad….an insult to a generation of sailors, the ships are seen almost as a mother to preserve us from the dangers of the sea and also from the violence of the enemy,” said West.

The Admiral also criticized the museum for caving in to a tiny pressure group, warning it was a “very dangerous road we are going down”.

The Royal Navy subsequently issued a statement saying the tradition would not be changed, with a spokesperson saying, “The Royal Navy has a long tradition of referring to its ships as ‘she’ and will continue to do so”.

Imagine being offended by a ship being referred to as “she”.

Imagine risking prosecution simply to vandalize signs that proclaimed this.

These kind of deranged lunatics are being given power in society.

What could possibly go wrong?

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Source: InfoWars

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Brexit discontent drives new grassroots push for Scottish independence

April 25, 2019

Maggie Chapman of Voices for Scotland is photographed during an interview in Edinburgh, Scotland
Maggie Chapman of Voices for Scotland is photographed during an interview in Edinburgh, Scotland, Britain April 18, 2019. REUTERS/Russell Cheyne

April 25, 2019

By Elisabeth O’Leary

EDINBURGH (Reuters) – As Brexit gnaws at Britain’s political structure, supporters of an independent Scotland are launching a new grassroots campaign aimed at convincing a large majority of Scots to back a split from the United Kingdom.

Scots rejected independence in referendum 2014 and support since then has stuck at around 45 percent, opinion polls say.

But they also voted to remain in the European Union in the 2016 Brexit referendum in which England and Wales voted to leave, and discontent over how Brexit is being handled is widespread.

“Voices for Scotland”, a crowd-funded initiative with about 100,000 participants, will try to boost support for secession to 60 percent via a clipboard-wielding army of activists who aim to cover the whole of Scotland.

They are targeting around one third of Scots who they believe were “soft ‘No’” voters in 2014 through their family and friends.

“It’s about conversations with people you trust,” said professor Iain Black from Stirling University, who has compiled research for the group and took part in a news conference.

Black found that women, particularly those who are young, were changing their minds about independence because of “the closing off of opportunity of Brexit,” he said. Conversely those more opposed to the idea were older citizens.

The launch comes a day after Scottish First Minister Nicola Sturgeon said the country would start preparing for a second referendum on independence before May 2021 without permission from London.

In the campaign for the 2014 independence referendum, unionists said the only way for Scotland to stay in the EU was to stick with the United Kingdom.

Sturgeon’s Scottish National Party (SNP), which runs the devolved government in Edinburgh, says a second referendum just a few years later is justified as Scotland is now being dragged out of the bloc against its will.

On Thursday David Lidington, the de facto British deputy prime minister, ruled out any referendum on Scottish independence, saying the matter was settled for a generation in 2014. Opponents of independence say Brexit has not changed Scotland’s desire to remain part of the United Kingdom.

“UK is not OK”

Debate among family and friends is the way the Voices for Scotland intends to spread its message, providing training and resources for activists. Listening to worries about independence will be as central as touting the merits of ending the 300-year-old union.

“We have to take a big majority of the country with us, and in order to do that we have to change our discourse,” actress Elaine C Smith, one of the platform’s founders, told reporters.

Secessionists want to learn from the divisiveness of Brexit and take a different tone from the 2014 “Yes” independence campaign, they say.

“We can see in the political discourse of the last year or more what a very narrow vote can do to a country and a community. That is not what we want,” Smith said.

The grassroots independence movement is still a force to be reckoned with, having boosted support to 45 percent in 2014 from around 23 percent in 2012.

Britain is mired in political chaos after parliament rejected three times the withdrawal deal negotiated by Prime Minister Theresa May and other EU leaders. It is still unclear when or even if it will leave the bloc.

“I get the sense that we are in the death throes of the United Kingdom,” Maggie Chapman, also part of Voices for Scotland and co-convenor of the Scottish Greens, told Reuters.

“One of the things that ‘no’ or undecided voters said to me in 2014, in the run-up to that referendum (on Scottish independence) was ‘why, what do you want to change, the UK is fine as it is’”.

“Brexit tells us that the UK is not OK”

(Reporting by Elisabeth O’Leary; Editing by Gareth Jones)

Source: OANN

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RBS considering internal and external candidates for CEO role: chairman

April 25, 2019

Royal Bank of Scotland signs are seen at a branch of the bank, in London
FILE PHOTO: Royal Bank of Scotland signs are seen at a branch of the bank, in London, Britain December 1, 2017. REUTERS/Peter Nicholls

April 25, 2019

EDINBURGH (Reuters) – Royal Bank of Scotland will consider both internal and external candidates to replace outgoing Chief Executive Ross McEwan and has appointed headhunter firm Spencer Stewart to lead the search, the bank’s Chairman Howard Davies said on Friday.

Speaking on the sidelines of the bank’s annual shareholder meeting in Edinburgh on the day McEwan announced his departure after five and a half years at the helm, Davies said there was no favorite candidate at the moment.

McEwan’s current deputy Alison Rose is seen by many bank insiders and analysts as the frontrunner.

(Reporting by Iain Withers; Writing by Lawrence White; Editing by Mark Potter)

Source: OANN

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Britain wants Brexit deal approved before July: May’s deputy

April 25, 2019

Funeral of journalist Lyra McKee in Belfast
Britain’s Prime Minister Theresa May attends the funeral service for murdered journalist Lyra McKee at St Anne’s Cathedral in Belfast, Northern Ireland April 24, 2019. Charles McQuillan/Pool via REUTERS

April 25, 2019

GLASGOW, Scotland (Reuters) – British Prime Minister Theresa May’s government wants to get her thrice-defeated Brexit deal approved by parliament before the new European Union parliament opens in July, her de-facto deputy, David Lidington, said.

Lidington, cabinet office minister, told reporters in Glasgow that the atmosphere at talks with the opposition Labour Party was productive.

He said he could not give an exact time for when the Brexit deal would be brought back to parliament but that it could not drift. He said the timing depended on discussions with the Labour Party.

Asked if the deal would be brought back to parliament before the EU parliament elections, Lidington said the government wanted to bring it back to parliament as soon as possible.

He ruled out any referendum on Scottish independence before 2021.

(Reporting by Michael Holden and Jack Stubbs; editing by Guy Faulconbridge and Andrew MacAskill)

Source: OANN

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Britain will not use high-risk vendors in critical parts of 5G networks: minister

April 25, 2019

FILE PHOTO: Britain's Minister for the Cabinet Office David Lidington speaks at the the British Chamber of Commerce annual conference in London
FILE PHOTO: Britain’s Minister for the Cabinet Office David Lidington speaks at the the British Chamber of Commerce annual conference in London, Britain, March 28, 2019. REUTERS/Peter Nicholls/File Photo

April 25, 2019

GLASGOW, Scotland (Reuters) – Britain will not consider high risk equipment vendors in security critical parts of its next-generation 5G networks, Cabinet Office minister David Lidington said on Thursday.

Sources told Reuters on Wednesday Britain’s National Security Council had decided this week to bar China’s Huawei Technologies from all core parts of the 5G network and restrict its access to non-core parts.

Speaking at a cyber security conference in Glasgow, Scotland, Lidington said Britain had rigorous procedures to manage risk in its telecoms infrastructure and the government’s decision was based on “evidence and expertise not supposition or speculation.”

“We will not countenance high risk vendors in those parts of the UK’s 5G network that perform critical security functions,” he said.

“The government approach is not about one company or even one country, it is about ensuring stronger cyber security across telecoms, greater resilience in telecoms networks and more diversity in the supply chain.”

(Reporting by Jack Stubbs and Michael Holden; Editing by Guy Faulconbridge)

Source: OANN

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Royal Bank of Scotland CEO Ross McEwan resigns

April 25, 2019

FILE PHOTO: Royal Bank of Scotland chief executive Ross McEwan is seen outside Downing Street in London
FILE PHOTO: Royal Bank of Scotland chief executive Ross McEwan is seen outside Downing Street in London, Britain March 20, 2019. REUTERS/Hannah McKay/File Photo

April 25, 2019

LONDON (Reuters) – Royal Bank of Scotland plc said on Thursday that Chief Executive Ross McEwan has resigned from his role, signaling a refresh of leadership and direction at the state-backed lender as it continues its journey to full private ownership.

New Zealand-born McEwan, who has led RBS since October 2013, has a 12-month notice period and will remain in his position until a successor has been appointed and an orderly handover has taken place, the bank said.

It is the second key change in RBS’s senior executive team in less than six months following the appointment of Katie Murray as the bank’s chief financial officer in December last year.

The date of McEwan’s departure will be confirmed in due course and Alison Rose, the bank’s CEO of Commercial & Private Banking, is seen as one of the favourites to succeed him.

“After over five and a half very rewarding years, and with the bank in a much stronger financial position it is time for me to step down as CEO,” he said in a statement.

“It has been a privilege to lead this great bank and to have worked with some really outstanding people in process.”

RBS, which is currently more than 62 percent owned by the UK taxpayer, is hosting its annual general meeting on Thursday.

It was bailed out by the UK government to the tune of 45 billion pounds ($58.06 billion) during the 2008 financial crisis and has spent the last decade cutting costs, restructuring its balance sheet, and refocusing on core domestic UK business and consumer lending.

(Reporting By Sinead Cruise, editing by Huw Jones)

Source: OANN

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Anger over Brexit sparks new grassroots drive for Scottish independence

April 24, 2019

A Scottish flag flies between British Union Jack flag and European Union flag outside the Scottish Parliament in Edinburgh
A Scottish flag flies between British Union Jack flag and European Union flag outside the Scottish Parliament in Edinburgh, Scotland, Britain, April 24, 2019. REUTERS/Russell Cheyne

April 24, 2019

By Elisabeth O’Leary

EDINBURGH (Reuters) – Supporters of an independent Scotland will launch a new grassroots campaign on Thursday ahead of a possible second referendum on secession from the United Kingdom, hoping to harness Scottish voters’ anger over Brexit.

Scots rejected independence in 2014 and support since then has remained stuck at around 45 percent, opinion polls suggest. But Scots also voted to remain in the European Union in the 2016 Brexit referendum, in which England and Wales voted to leave.

Under the crowd-funded initiative “Voices for Scotland”, which has some 100,000 supporters, clipboard-wielding activists will fan out across Scotland to try to boost support for secession to the 50-60 percent range.

“I get the sense that we are in the death throes of the United Kingdom, that it is a very unstable construct,” Maggie Chapman, one of the leaders of Voices for Scotland and also co-convenor of the Scottish Greens, told Reuters.

The launch comes a day after Scotland’s First Minister Nicola Sturgeon said the country would start preparing for a second referendum on independence before May 2021 without permission from London because of Brexit.

Britain is mired in political chaos after parliament rejected three times the withdrawal deal negotiated by Prime Minister Theresa May and other EU leaders, and it is still unclear when or even if it will leave the bloc.

“UK NOT OK”

“One of the things that ‘no’ or undecided voters said to me in 2014, in the run-up to that referendum (on Scottish independence) was ‘why, what do you want to change, the UK is fine as it is’,” said Chapman.

“Brexit tells us that the UK is not OK, not only in terms of economic legitimacy and power, but in terms of trust in politics,” she said.

Scotland’s “Yes” movement took support for independence to 45 percent in 2014 from around 23 percent in 2012.

The new initiative will train campaigners to go out and “listen to what people need to help them become supportive of independence, as well as to persuade them of its merits”, Voices for Scotland said in a statement.

It has so far raised about 100,000 pounds ($129,000) to train and support campaigners to spread the word on “every street in Scotland”, Chapman said.

Its aim is particularly to target those who are undecided about Scottish independence or “who support the union but have had their faith undermined by recent events.”

(Reporting by Elisabeth O’Leary; Editing by Gareth Jones)

Source: OANN

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Scotland will prepare for an independence referendum before May 2021: Sturgeon

April 24, 2019

Scotland's First Minister Nicola Sturgeon speaks in the Scottish Parliament during continued Brexit uncertainty in Edinburgh
Scotland’s First Minister Nicola Sturgeon speaks in the Scottish Parliament during continued Brexit uncertainty in Edinburgh, Scotland, Britain, April 24, 2019. REUTERS/Russell Cheyne

April 24, 2019

By Elisabeth O’Leary

EDINBURGH (Reuters) – Scotland should hold an independence referendum before the current Scottish parliamentary term ends in May 2021 and will prepare legislation for this to happen, First Minister Nicola Sturgeon said on Wednesday.

“A choice between Brexit and a future for Scotland as an independent European nation should be offered in the lifetime of this parliament,” Sturgeon told Holyrood, Scotland’s devolved parliament.

She said a devolved parliament bill would be drawn up before the end of 2019.

The permission of Britain’s sovereign parliament at this stage was not needed, she said, but would be eventually be necessary “to put beyond doubt or challenge our ability to apply the bill to an independence referendum.”

Sturgeon is under pressure from her nationalist movement to provide a clear way forward in the quest for an independent Scotland.

But Britain is mired in political chaos due to Brexit and it is still unclear whether, when or even if Britain will leave the European Union.

Scotland, part of the United Kingdom for more than 300 years, rejected independence by 10 percentage points in a 2014 referendum.

Differences over Brexit have strained the United Kingdom. Scotland and Northern Ireland voted to stay in the EU in a 2016 referendum, while Wales and England vote to leave.

Those who want to maintain the United Kingdom argue that Brexit has made no difference to how Scots feel, and the secession vote should not be repeated.

But Sturgeon argued that leaving the world’s largest trading bloc endangers Britain and Scotland’s economic well-being.

“We face being forced to the margins, sidelined within a UK that is itself increasingly sidelined on the international stage. Independence by contrast would allow us to protect our place in Europe,” she said.

“We need a more solid foundation on which to build our future as a country.”

(Reporting by Elisabeth O’Leary; editing by Guy Faulconbridge)

Source: OANN

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Government, business should guard Internet together: British intelligence chief

April 23, 2019

FILE PHOTO: Govt, business should guard Internet together -British intelligence chief
FILE PHOTO: GCHQ Director Jeremy Fleming delivers a speech as he meets with Britain’s Queen Elizabeth during her visit at the Watergate House to mark the centenary of the GCHQ (Government Communications Head Quarters) in London, Britain, February 14, 2019. REUTERS/Hannah McKay/Pool

April 23, 2019

GLASGOW, Scotland (Reuters) – The head of Britain’s GCHQ spy agency on Wednesday will call on businesses and the finance sector to work with intelligence officials to help secure the internet and protect customers online.

In extracts of a speech to be given at a cyber security conference in Scotland, GCHQ head Jeremy Fleming said the signals intelligence agency would cooperate closely with manufacturers, internet service providers, online platforms and banks to “take the burden of cyber security away from the individual.”

The latest incarnation of the internet has enabled innovation and technological breakthroughs, Fleming said, but also brought “new and unprecedented challenges for policymakers as we seek to protect our citizens, judicial systems, businesses – and even societal norms.”

Western governments including Britain are pushing businesses and the public to take more precautions online and guard against threats posed by cyber criminals and nation state hackers.

Fleming will speak at the CYBERUK conference, hosted by GCHQ’s National Cyber Security Centre (NCSC) in Glasgow, Scotland. The conference will also host a public panel discussion by senior officials from countries in the Five Eyes intelligence-sharing group: Australia, Britain, Canada, New Zealand and the United States.

“Cyber attacks do not respect international boundaries, and many of the threats and vulnerabilities we face are shared around the globe,” said NCSC head Ciaran Martin. “Each nation has sovereignty to defend itself as it sees best fit, but it’s vital that we work closely with our allies.”

(Reporting by Jack Stubbs and Michael Holden; Editing by David Gregorio)

Source: OANN

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