Cable stabilises above £1.30 support, but the Brexit storm is far from over January 30, 2019 | City Talk The UK parliament yesterday voted against officially blocking a no deal Brexit, but also forced Theresa May to return to the EU to renegotiate the controversial Irish Border backstop. Cable tumbled over 100 pips initially but support at £1.3060 held. But there’s plenty of pain on the horizon for GBP/USD. “Backstop”. It’s a word that [...]
Bill Browder attacks British establishment for allegedly accepting Russian money laundering bribes January 30, 2019 Financier and prominent Putin critic Bill Browder has launched an incendiary attack on "members of the British establishment" for allegedly accepting bribes linked to Russian money laundering. Browder, the chief executive of Hermitage Capital Management, alleged that an investigation into money laundering had uncovered evidence that members of the House of Lords have received bribes [...]
CBI: Businesses set to accelerate no-deal Brexit planning after parliament vote January 30, 2019 British firms are set to accelerate their no-deal Brexit plans as uncertainty reigns over the nature of the UK’s departure from the EU, a major business body said today. Last night’s decision to reopen negotiations with the bloc will not have reassures businesses, CBI boss Carolyn Fairbairn told BBC Radio 4’s Today programme this morning. [...]
On climate change, good economics sadly does not make good politics January 30, 2019 Economists, of all people, should understand the power of specialisation. They are taught early that prosperity is founded on the division of labour: individuals becoming more productive in specific tasks. Yet when dispensing policy advice, they seem to ignore that lesson, presuming that they know better than politicians about good politics. Economists frequently claim that [...]
MPs send Brexit ball back into EU’s court…but will they play? January 29, 2019 By the standard of recent months, Theresa May enjoyed a good night in parliament on Tuesday. While there was no legislative victory to be had, there was a real risk that MPs would seize control of the Brexit process and render her deal defunct. In the event, MPs voted against extending the Article 50 withdrawal [...]
Brexit vote live: MPs reject no-deal and vote for changes on the Irish backstop January 29, 2019 Hello and welcome to our Brexit vote live blog. Please manually refresh this page for the latest updates The Prime Minister brings her plan B to parliament today, but the real meat on the table today are various Brexit amendments tabled by MPs. These vary wildly – with one expected to call for an alternative [...]
Theresa May calls for Brexit negotiations to reopen after MPs back new plan January 29, 2019 Theresa May will launch an audacious bid to reopen Brexit negotiations with the EU after MPs voted in favour of reforming the contentious Irish border backstop arrangements. After a night of high drama, during which MPs voted against a plan that could have delayed Brexit, the Prime Minister said she had a fresh mandate to [...]
City Hall and BBC under fire over stamp duty agreement for new Olympic Park studios January 29, 2019 City Hall has come under fire for agreeing to underwrite half of the stamp duty that could be levied on the BBC when it opens new studios in the £1.1bn Olympic Park development. Last summer the broadcaster announced it would build a brand new set of studios at the east London site by 2022/23, in concert [...]
Ireland would take four per cent economic hit in no-deal Brexit, says Irish finance minister January 29, 2019 Ireland’s economy will take a four per cent hit in a no-deal Brexit, the country’s finance minister has warned. Pascal Donohoe today told his government colleagues a “disorderly” Brexit would particularly impact on agri-food and manufacturing sectors in Ireland – leading to slower economic growth over the next five years. The Irish government were told [...]
Downing Street slaps down Sajid Javid over net migration target January 29, 2019 Downing Street has insisted reducing net migration to below 100,000 is still government policy – despite the home secretary saying there are no more targets. In the Commons on Monday, Sajid Javid was asked if the government was “formally dumping” its longstanding aim of getting net migration into the tens of thousands. The home secretary [...]