Archive for the ‘World news’ Category

Barclay and Barnier clash on citizens’ rights under no-deal Brexit

EU negotiator urged to rethink decision to reject plea by UK to ringfence key part of deal

The EU’s chief negotiator has been asked to think again after rejecting an appeal by the UK’s Brexit secretary for the full gamut of citizens’ rights in the withdrawal agreement to be protected in the event of a no-deal exit.

In a clear signal from Brussels that it is not willing to countenance a “managed no deal”, Michel Barnier has described the suggestion that such elements of the agreement could be carved out as “far from straightforward” and insisted that the focus should be on getting the Brexit deal ratified.

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Airline shares under pressure after surprise Lufthansa profit warning – business live

German carrier warns on “aggressive” growth in low-cost competition

Wednesday could well mark the start of a new period in the global economy: a decade after the financial crisis hit, the Federal Reserve could be about to cut interest rates again.

The Fed, led by Jerome Powell, has to balance a US economy that economists believe is still relatively healthy with the risks to growth posed particularly by White House trade policy towards China.

On Wednesday, we expect the Fed to signal precautionary rate cuts are in the offing. Markets favour a 25bp rate cut in July with three additional rate cuts over the next twelve months.

The passing of the dividend will mean that income funds will be running for cover, not least due to the overhang from the Woodford saga. However, providing assets are not sold off too cheaply, it could be an interesting speculative buy if this is indeed the last of the final downgrades.

Venerable auction house Sotheby’s has been bought by telecoms billionaire Patrick Drahi, in a deal that values the company at $3.7bn (£2.9bn).

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Tom Watson to say Labour must adopt clear anti-Brexit stance

Deputy leader to hail remain values as shadow cabinet meeting cancelled at 11th hour

Tom Watson is to challenge Jeremy Corbyn to put Labour at the forefront of the campaign against Brexit, using a speech on Monday to say: “Our members are remain, our values are remain, our hearts are remain.”

The deputy leader’s latest intervention would have come ahead of a tricky meeting of Labour’s divided shadow cabinet – but members were told on Sunday evening that the meeting had been cancelled at short notice.

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MEPs create biggest far-right group in European parliament

ID’s influence doubtful, however, after falling short in aim to become third-biggest bloc

Marine Le Pen and Matteo Salvini’s MEPs have joined forces with anti-immigration parties across Europe to create the biggest far-right group in the European parliament.

Despite promises to become “a thorn in the flesh of the establishment”, the group of 73 MEPs falls short of Salvini’s ambition of upending the system of EU lawmaking by becoming the third-largest group in the parliament.

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MPs’ no-deal vote – what does this mean for Brexit?

An attempt to block the UK leaving without a deal was defeated on Wednesday, so can no deal still be stopped?

Have MPs missed their last chance to block a no-deal Brexit?

Not quite. Labour seized the opportunity for action on Wednesday because they had been allotted an opposition day debate – an opportunity to decide what MPs discuss and vote on.

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Brexit ‘shambles’ has ruined UK reputation, says senior diplomat

Outgoing high commissioner in Singapore says Britain seen as divided and ‘careless of truth’

Scott Wightman, Britain’s outgoing senior diplomat in Singapore, has said Britain is now seen worldwide as a country beset by division, obsessed with ideology and careless of truth.

In a valedictory note, he compared Brexit to the fall of Singapore in 1942 and said major investors expect future investment in Europe to be directed more towards Germany and France.

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Northern Ireland businesses warned over no-deal Brexit

Firms face severe problems from export checks and inspections, report says

A no-deal Brexit will create severe problems for Northern Irish businesses and oblige the Republic of Ireland to build border inspection posts, a report has said.

Firms will have “limited room for manoeuvre” as they face an array of export checks, inspections and declarations, according to the report, which was commissioned by Northern Ireland’s Department for the Economy and published this week.

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