Showing posts with the label Brexit

News | |Brexit: London Lose out it's Europe Trade Primacy.

Image Brexit: London loses out as Europe's top share trading hub BBC News 3-4 minutes image copyrightGetty Images image captionAndrew Bailey said the UK would not accept being "dictated" to by Brussels. Amsterdam ousted London as the largest financial trading centre in Europe last month as Brexit-related changes to finance rules came into force. About €9.2bn (£8.1bn) worth of shares were traded on Amsterdam exchanges each day, against €8.6bn in London. Following new Brexit rules, EU-based banks wanting to buy European shares currently cannot trade via London, meaning a loss of fees for City firms. Bank of England chief Andrew Bailey has warned the EU not to cut off London. On Wednesday, Mr Bailey said there were signs that the EU planned to cut the UK off from its financial markets. The EU does not recognise UK exchanges as having the same levels of supervisory status as its counterparts

Opinion | Brexit: Johnson thinks a ‘culture war’ will win crucial working-class votes. He’s wrong | Lynsey Hanley

Lynsey Hanley 9-11 minutes - Source: THE GUARDIAN Not long after the referendum in 2016, some neighbours suddenly erected a big wooden fence around their front garden. Well, it seemed sudden. Our postman jokingly called it “the Brexit wall”, and although the two events may have been entirely unconnected, the fence took on a symbolism it was probably never intended to have. Whether it was there for reasons of privacy, security, or simply to have something for the ivy to grow on, we’ll never know. I don’t like to ask. But the fence reinforced my belief that community life has never been, and never will be, as straightforward as some dew y-eyed nostalgics would like to present it. That thought recurred this week, as the country staggers towards a general election . Whenever it does finally take place, both the Tories and Labour will make a pitch – in the Midlands and the north of England particularly – on the presumption that the leave v

Latest on Brexit | Brexit weekly briefing: cabinet showdown after MPs reject all options

Jon Henley 8-10 minutes Welcome to the Guardian’s weekly Brexit briefing, trying to make sense of the nonsensical since June 2016. If you would like to receive this as a weekly email, please sign up here . And catch our monthly Brexit Means podcast here . Top stories Another eventful week, but we’re no further forward. Which, with the EU having demanded a decision from Britain one way or another by 12 April – less than a fortnight away – is just the tiniest bit alarming . So what happened? After backing an amendment allowing indicative votes in a bid to to find parliament’s preferred Brexit solution, MPs rejected all eight options before them last Wednesday (though one, committing the government to negotiate a UK-wide customs union with the EU in any Brexit deal, nearly made it). True to form, the government took this as an invitation to bring Theresa May’s twice-defeated deal back to the Commons, albeit in slightly different form: to get rou

Brexit | Facing threat of Brexit delay, May renews efforts for deal change

Elizabeth Piper 5-6 minutes SHARM EL-SHEIKH, Egypt (Reuters) - Prime Minister Theresa May faces a growing threat that she will be forced to delay Brexit, a move that risks a showdown with eurosceptics in her Conservative Party just weeks before Britain is due to leave the European Union. Britain's Prime Minister Theresa May poses with European Commission President Jean-Claude Juncker during a summit between Arab league and European Union member states, in the Red Sea resort of Sharm el-Sheikh, Egypt, February 25, 2019. Francisco Seco/Pool via REUTERS With Britain’s Brexit crisis going down to the wire, May is struggling to get the kind of changes from the EU she says she needs to get her divorce deal through a divided parliament and smooth the country’s biggest policy shift in more than 40 years. In Egypt’s Sharm el-Sheikh for an EU/Arab League summit, she met the bloc’s leaders to try to win support for her efforts to make her deal more

It's May's deal or long Brexit delay, UK's chief negotiator...

Guy Faulconbridge 4-5 minutes LONDON (Reuters) - British lawmakers will face a stark choice between Prime Minister Theresa May’s Brexit deal or a long extension to the March 29 deadline for leaving the bloc, the UK’s chief Brexit negotiator was overheard saying in a Brussels bar. Britain's Prime Minister Theresa May speaks in Parliament, London, Britain, February 13, 2019, in this screen grab taken from video. Reuters TV via REUTERS Unless May can get a Brexit deal approved by the British parliament, she will have to decide whether to delay Brexit or thrust the world’s fifth largest economy into chaos by leaving without a deal. May has repeatedly said the United Kingdom will leave on schedule, with or without a deal, as she tries to get the EU to reopen the divorce agreement she reached in November. But her chief Brexit negotiator, Olly Robbins, was overheard by an ITV correspondent at a hotel bar in Brussels saying lawmakers would have

Brexit latest news: Theresa May rules out scrapping backstop ahead of showdown talks with Jean-Claude Juncker

Jack Maidment, Political Correspondent 5 February 2019 • 5:52pm 24-30 minutes Theresa May to meet Jean-Claude Juncker on Thursday PM: Backstop will not be scrapped, will be changed Angela Merkel: There is still time to fix Brexit Martin Selmayr: UK must pay £39bn Brexit bill even if no-deal Business Secretary backlash over Nissan Brexit sweetener Chris Grayling: 'Blame Brussels if we leave with no deal'  Analysis: Can the AAWG find a solution to the Brexit impasse? Sign up to the new-look Brexit Bulletin briefing email Theresa May has ruled out scrapping the backstop but insisted the “insurance policy” will have to change if MPs are to back her Brexit deal. Speaking in Belfast, the Prime Minister said she would not be asking the House of Commons to accept a Withdrawal Agreement “that does not contain” the backstop. It is the first time Mrs May has explicitly said the controversial protocol would not be removed in comments

Calls for a second Brexit referendum grow as Theresa May fights for a new deal

Holly Ellyatt 5-6 minutes A People’s Vote rally in Parliament Square. People assemble to watch the debate in Parliament and the final vote on the Brexit deal. Barcroft Media | Barcroft Media | Getty Images In one of the more dramatic weeks in British politics, following the defeat of Prime Minister Theresa May’s Brexit agreement and her government’s survival of a no-confidence vote, calls are now growing for a second Brexit referendum. Political leaders from the Scottish National Party (SNP), Wales’ Plaid Cymru, the Green party and Liberal Democrats are calling on their fellow opposition party, Labour, to join them in calling for a second referendum on Brexit, known now as a “People’s Vote.” In an open letter to Labour leader Jeremy Corbyn following the unsuccessful vote of no confidence which he called, and which the other opposition parties had supported, the party leaders said they were writing to “implore” him to now support their

No-deal Brexit would trigger lengthy UK recession, warns S&P: Opinion I Brexit I The Guardian Phillip Inman Britain’s economy will suffer rising unemployment and falling household incomes that would trigger a recession should Theresa May fail to secure a deal to prevent the UK crashing out of the European Union next year, according to analysis by the global rating agency Standard & Poor’s. Property prices would slump and inflation would spike to more than 5% in a scenario that S&P said had become more likely in recent months following deadlock with Brussels over a post-Brexit deal. In a warning that included a possible downgrade to the UK’s credit rating, which would bring with it an increase in the Treasury’s borrowing costs, S&P said it still expected both sides in the Brexit talks to come to an agreement before next March, when the UK is scheduled to leave the European Union. But it warned that the chance of a “no-deal” Brexit had risen in recent months to such an extent that it needed to warn in