Pound falls back below $1.25 after earlier rising on Juncker’s Brexit comments September 20, 2019 The sterling has fallen back below the $1.25 barrier despite rising earlier today on hopes of a breakthrough in Brexit negotiations. The pound has fallen by 0.34 per cent to 1.248 on the back of a strong dollar, which in turn weakens the pound. The fall has undone some of the pound’s gains from yesterday [...]
Brexit: UK submits ‘non-papers’ to EU September 19, 2019 The UK has submitted “non-papers” to the EU as part of renewed efforts to break the deadlock over Brexit. Pressure has been growing for Downing Street to put forward written proposals of alternatives to the Irish backstop, while the government has been holding out until the last minute for fear any suggestion would be “trashed” [...]
Barclay urges compromise as he likens Brexit talks to Good Friday Agreement September 19, 2019 Brexit secretary Stephen Barclay has urged negotiators on both sides to compromise, comparing the situation to the background that led to the Good Friday Agreement. Speaking in Madrid today, Barclay called for “creativity and flexibility” to avoid a no deal Brexit by addressing the ongoing problems around the Irish backstop. He quoted Lord Trimble, one [...]
Brexit: UK ‘refusing to leave papers with EU negotiators’ September 17, 2019 Further details have emerged of the UK’s hardball tactics as an air of mutual mistrust continues to dominate Brexit talks while the clock runs down. Despite the European Union’s repeated calls for legally operable text to be presented by the UK before formal negotiations can resume, the UK has so far only shown the Northern [...]
No 10 plans to run down clock in Brexit face-off September 17, 2019 The UK will hold back from giving Brussels a written proposal for alternatives until as late as October, as the two sides try to out-manoeuvre each other in the final stages of Brexit talks. The European Union has repeatedly called for operable, legal text before it will consider reopening the Withdrawal Agreement and removing the [...]
Row breaks out over Boris Johnson’s ’empty podium’ moment in Luxembourg September 16, 2019 Boris Johnson has been forced to cancelled a press conference with his counterpart in Luxembourg, after local aides refused to move it away from a protest. The Prime Minister was scheduled to give an update on Brexit talks following a bilateral with Xavier Bettel, as well as the President of the European Commission Jean-Claude Juncker [...]
Barnier to resume Brexit talks as Johnson swerves press conference September 16, 2019 Jean-Claude Juncker has given the go-ahead for the EU’s chief negotiator to resume meetings with the UK’s Brexit secretary, following a meeting today with Boris Johnson. The Prime Minister lunched with the President of the European Commission in a Luxembourg restaurant – the first time the two have met since Johnson took the keys for [...]
PPI costs account for over half of all conduct and litigation charges at UK banks September 16, 2019 Costs from the mis-selling of payment protection insurance (PPI) has accounted for more than half of all litigation and conduct charges faced by Britain’s biggest banks in recent years. Moody’s Investors Service has said that PPI was the largest single source of conduct and litigation charges from 2011 to the first half of 2019, as [...]
Oil prices post record jump after attack on Saudi Arabia supplies September 16, 2019 Oil prices rocketed almost 20 per cent to more than $71 a barrel today after the US accused Iran of gutting half of Saudi Arabia’s oil production in a strike on two refineries over the weekend. Brent crude trimmed its record-breaking gains but its price still blew up 10.5 per cent to $66.56. World (WTI) [...]
Nationwide reveals PPI hit of up to £50m as it becomes latest victim of claims rush September 13, 2019 Nationwide has become the latest company to reveal a hefty charge for mis-sold payment protection insurance (PPI) amid a surge in last-minute claims. Read more: N Brown shares drop after it reveals £20m to £30m PPI provision The building society today said it has set aside a provision of between £20m and £50m, in addition [...]