Brexit News Archive: 25 Jan 2019

No-deal Brexit could be 'extremely difficult' in short to medium term - junior minister

A no-deal Brexit could be "extremely difficult" in the short to medium term, a junior finance minister in Prime Minister Theresa May's government said, adding that there would ostensibly have to be a hard border on the island of Ireland.
Reuters   |   Fri, 25 Jan 2019 20:02:55

Brexit may not happen on March 29, Leadsom warns

Leader of Commons says delay may be necessary to clear legislation
FT   |   Fri, 25 Jan 2019 19:56:26

OANDA Market Insights podcast (episode 49)

OANDA Senior Market Analyst Craig Erlam reviews the week's business and market news with Jazz FM Business Breakfast presenter Nick Howard. This week's big stories: Brexit backstop backlash ahead of next week's vote, week 5 of the US government shutdown, US-China trade talks "miles and miles" apart and "darkening skies" ...
Craig Erlam / OANDA   |   Fri, 25 Jan 2019 19:38:02

Varadkar admits prospect of troops on Brexit border

Furthest taoiseach has gone in spelling out potential no-deal implications
FT   |   Fri, 25 Jan 2019 18:51:15

Brexit: Government advised public bodies how to refuse FOI requests around plans for no-deal

Leaked report shows authorities were urged to avoid disclosing 'potentially damaging information' on preparations
Tom Barnes / The Independent   |   Fri, 25 Jan 2019 18:46:00

EUR/GBP: Brexit to keep pound undervalued and volatile for longer - Danske Bank

According to analysts from Danske Bank, the pound remains undervalued and is set to be volatile for longer. They see EUR/GBP at 0.90 in a 1-month period. Key Quotes: "The Bank of England (BoE) voted unanimously in November to keep the Bank Rate at 0.75%. We expect the BoE to ...
FX Street   |   Fri, 25 Jan 2019 18:13:11

Who is the Brexit supporting Lord Bamford of JCB fame?

Bulldozer maker paid Boris Johnson £10k for a speech and David Davis £60k for advice Long before Lord Bamford, the chairman of the digger group JCB, invited Boris Johnson to speak at his company earlier this month, the billionaire had bulldozed his way into British politics. Johnson was paid £10,000 ...
Simon Goodley / Guardian   |   Fri, 25 Jan 2019 18:01:39

Andrea Leadsom Admits Brexit Could Be Delayed Beyond March 29

Arj Singh / Huffington Post   |   Fri, 25 Jan 2019 17:51:32

'Feasible' that EU might extend Brexit date by a couple of weeks - Leadsom to BBC

It would be feasible for Britain to be given "a couple of extra weeks" by the European Union to get Brexit legislation passed if required, the leader of the lower house of parliament told the BBC on Friday.
Reuters   |   Fri, 25 Jan 2019 17:34:07

UK: EU may be prepared to grant the UK a "couple of extra weeks" - BBC

In an interview with BBC, Andrea Jacqueline Leadsom, a British Conservative Party politician and the Leader of the House of Commons, said that the EU could grant the UK a "couple of extra week" beyond the March 29 deadline to finalise preparations for Brexit. "Ms Leadsom, who is in charge ...
FX Street   |   Fri, 25 Jan 2019 17:29:50

Growing Inequality: How Brexit Distracted the UK From Its Real Problems

While British politicians expend all of their energies on Brexit, the country's already troubling levels of inequality have only gotten worse. This could have dramatic consequences for the UK's lawmakers and for its citizens.
Spiegel   |   Fri, 25 Jan 2019 17:29:00

No-deal Brexit: Leo Varadkar raises prospect of soldiers on Irish border if UK crashes out of EU

'The UK wanted a review clause in the backstop and we agreed to that, the UK wanted a UK-wide element, so why is it the country that is being victimised is the one that's always asked to give?'
Ashley Cowburn / The Independent   |   Fri, 25 Jan 2019 17:21:33

Goldman warns of post-Brexit job cuts if deal not cut

Taipei Times   |   Fri, 25 Jan 2019 17:07:19

Is the Backstop the real reason for UK gridlock? What are the options?

The Brexit process seems to have got mired in something called the Backstop which few people, at least outside Ireland, understand but which is portrayed as way of keeping either the whole of the UK or just Northern Ireland more closely tied to the EU than they would have wanted. ...
EU Priorities / Ideas on Europe   |   Fri, 25 Jan 2019 16:46:28

Joe Cornish on the Brexit parallels of 'The Kid Who Would Be King'

British director Joe Cornish's previous film, the urban sci-fi action picture "Attack The Block," came out in 2011. While not a box office hit on its initial release, it has gone on to cult status for its genre savvy. (It doesn't hurt it was the film debut for future "Star ...
Mark Olsen / LA Times   |   Fri, 25 Jan 2019 16:35:00

DUP likely to back amendment supporting Brexit deal with backstop alternative - Telegraph

The DUP, which props up British Prime Minister Theresa May's government, is likely to back an amendment which says MPs will support May's Brexit deal if the Irish backstop is swapped for "alternative arrangements", The Telegraph newspaper said.
Reuters   |   Fri, 25 Jan 2019 16:33:12

Britons back the Queen over Brexit 'come together' message

The vast majority of people back the Queen for urging people to "come together" amid bitter division over Brexit.
Sky   |   Fri, 25 Jan 2019 16:21:00

UK could reopen Brexit deal if parliament ready to accept agreement with backstop changes: BuzzFeed

The British government's enforcer Julian Smith has told lawmakers that the Brexit agreement could be reopened if parliament shows it would back an agreement with legally-binding changes to the Irish backstop, BuzzFeed reported on Friday.
Reuters   |   Fri, 25 Jan 2019 16:12:55

Stop Saying A Second Brexit Vote Will Only Stoke The Far Right

John Tothill / Huffington Post   |   Fri, 25 Jan 2019 16:00:46

Now Varadkar Threatens to Put Troops on the Irish Border

The EU's calamitous attempts to maintain even a semblance of unity on the Irish backstop have reached farcical new levels today with Leo Varadkar now threatening to put Irish troops back on the border in the event of a no-deal Brexit, despite having again dismissed the need for a hard ...
Hugh Bennett / Guy Fawkes' blog   |   Fri, 25 Jan 2019 15:42:08

Overshadowed by Brexit, the poor and homeless ignored in Britain

Campaigners want politicians and the media to pay more attention to the plight of the most vulnerable in society.
Al Jazeera   |   Fri, 25 Jan 2019 15:38:39

Brexit is about sovereignty and parliament must respect that

What many voters objected to was a supranational government making some of their laws
FT   |   Fri, 25 Jan 2019 15:30:40

Stocks advance on earnings optimism and Fed talk

Sterling stays above $1.31 as fears of no-deal Brexit wane
FT   |   Fri, 25 Jan 2019 15:27:24

Brexit & Beyond: ECB Lowers Eurozone Growth Forecasts

To subscribe to the newsletter, please sign up here Dear reader, We are ending the Brexit & Beyond newsletter on Jan. 31, and will soon begin sending you our daily What's News newsletter. It features the best of The Wall Street Journal, including Brexit and European news. You can also ...
WSJ Staff / MoneyBeat   |   Fri, 25 Jan 2019 15:25:23

State of the Union: 2 minutes to midnight

The doomsday clock is stuck at two minutes to midnight - while in Europe people take to the streets to call against global warming, a name dispute, Brexit. We speak to the Hungarian foreign minister on the dispute with Brussels and Serbian film director Emir Kusturica on his views about ...
euronews   |   Fri, 25 Jan 2019 15:20:52

Goldman Says US Stocks to Have Limited Brexit Impact Except a Select Group

Global markets largely shrugged off Prime Minister Theresa May's historic loss last week, with Parliament voting 432 to 202 in opposition of her Brexit plan. U.S. stock indexes opened slightly higher the day after that vote but were moving with greater tenacity in response to U.S.-China trade talks. U.S. companies ...
Alfonso Esparza / OANDA   |   Fri, 25 Jan 2019 14:21:58

Varadkar: 'No-deal' Brexit could see soldiers on border

Soldiers may be required to man the Irish border in the event of a "no-deal" Brexit, the Irish prime minister has warned.
Sky   |   Fri, 25 Jan 2019 14:21:00

Brexit: All the latest updates

With just 64 days until Brexit, Prime Minister Theresa May is attempting to get her deal approved by MPs.
Al Jazeera   |   Fri, 25 Jan 2019 14:16:41

MP scraps Brexit meeting over 'far-right action'

A Labour MP has been forced to cancel a public meeting to discuss Brexit over warnings of "action" by "far-right extremists".
Sky   |   Fri, 25 Jan 2019 14:04:00

How to Fix Brexit in Three Simple Steps

Three Necessary Steps to End Brexit Madness Start by acknowledging that leaving the European Union was never going to be cheap, easy or painless. Bloomberg, January 16, 2019       The first time we discussed the U.K. leaving the European Union (EU), the momentum looked like it was behind ...
Barry Ritholtz / The Big Picture   |   Fri, 25 Jan 2019 14:00:33

Labour Party Chair Slams Idea Of 'Divisive' Second Brexit Referendum

Ned Simons / Huffington Post   |   Fri, 25 Jan 2019 13:47:31

Seaborne Freight: The No-Deal Brexit Ferry Firm Is Finally Hiring Staff

Arj Singh / Huffington Post   |   Fri, 25 Jan 2019 13:17:35

Could citizens' assemblies solve Brexit?

The idea has been used effectively elsewhere, but extra time and consent are needed
FT   |   Fri, 25 Jan 2019 13:12:47

Brexit stockpiling by UK retailers and wholesalers reaching 2008 levels, says CBI

Survey, closely watched by Bank of England, finds ratio of stock to expected sales rising Britain's biggest retailers and wholesalers have raised their stockpiling efforts to the highest levels since the 2008 financial crisis, according to a key industry report, with little more than 60 days to go before Brexit. ...
Richard Partington Economics correspondent / Guardian   |   Fri, 25 Jan 2019 13:12:12

Crunching the numbers: is there a Parliamentary majority for anything?

MPs voted overwhelmingly against the Brexit deal last week, but could any outcome command a majority in the House of Commons? Open Europe's Dominic Walsh takes a look at the numbers. The post Crunching the numbers: is there a Parliamentary majority for anything? appeared first on Open Europe .
Dominic Walsh / Open Europe   |   Fri, 25 Jan 2019 13:00:56

Northern Irish DUP says wants Brexit consensus, sees ways forward

The Northern Irish party that props up Prime Minister Theresa May's government said on Friday it wanted to reach consensus on a deal that worked for the European Union and United Kingdom and that it saw paths to avoid the border backstop.
Reuters   |   Fri, 25 Jan 2019 12:43:39

Calais President: We're Ready, Are You?

The President of the Hauts-de-France Region, Xavier Bertrand, has given a pointed interview to Sky News confirming that Calais, Bolougne and Dunkirk are ready for Brexit whatever happens, but questioning whether the UK is prepared too. Remainers are doing their best to ensure that the UK isn't... It follows his ...
Hugh Bennett / Guy Fawkes' blog   |   Fri, 25 Jan 2019 12:39:43

Did Theresa May ask the Queen for Brexit help?

The setting for the Queen's comments were as homespun and genteel as could be imagined: Centenary celebrations of the Women's Institute, a quintessentially English organization whose branches share recipes for jam and baking. Yet what she said was of huge significance -- both for British politics and the Queen's constitutional ...
CNN   |   Fri, 25 Jan 2019 12:27:13

UK PM May echoes Queen's call for respectful debate: spokesman

Prime Minister Theresa May echoed a call made by Queen Elizabeth for respectful debate in Britain, May's spokesman said on Friday whilst declining to comment directly on remarks from the monarch seen as a message to politicians on Brexit.
Reuters   |   Fri, 25 Jan 2019 12:19:39

These Are All The Brexit Amendments That Spell Trouble For Theresa May

Rachel Wearmouth / Huffington Post   |   Fri, 25 Jan 2019 12:15:48

Factbox - May's Brexit 'plan B': What happens next in parliament?

British Prime Minister Theresa May is aiming to break the parliamentary deadlock over Brexit by proposing to seek further concessions from the European Union on a plan to prevent customs checks on the Irish border.
Reuters   |   Fri, 25 Jan 2019 12:15:13

Brexit: Senior Conservatives offer glimmer of hope to May with bid to salvage her deal

Sir Graham Brady told The Independent that the majority of Tory MPs could back the plan to remove Irish backstop
Lizzy Buchan / The Independent   |   Fri, 25 Jan 2019 12:14:00

Queen urges UK to find common ground as Brexit crisis deepens

Monarch's comments seen as an appeal to overcome divisions over the United Kingdom's exit from the European Union.
Al Jazeera   |   Fri, 25 Jan 2019 12:09:13

Morning News: January 25, 2019

China's Latest Official GDP Report Is Accurate. No, Really. Businesses Are Taking Action After Brexit Warnings Go Unheeded Global Shipping Rates Slump in Latest Sign [...]
Eddy Elfenbein / Eddy Elfenbein   |   Fri, 25 Jan 2019 12:04:33

Pound heads for best week in a year as no-deal Brexit risk ebbs

Declining expectations for chaotic UK exit from EU provides boost in sentiment
FT   |   Fri, 25 Jan 2019 12:02:46

Drug firm Novartis fears no-deal Brexit will harm patients

Swiss company is stockpiling amid concerns about the supply and safety of medicines The Swiss pharmaceuticals company Novartis said on Friday it is stockpiling drugs in the UK before a possible no-deal Brexit, which it warned would be "hugely impactful" for patients. Firms across the economy are bracing for the ...
Jasper Jolly / Guardian   |   Fri, 25 Jan 2019 11:55:50

Le Maire: Up to Britain to find a way through Brexit impasse

No prospect of renegotiating EU Brexit deal, French minister says.
Galaxy Henry / Politico   |   Fri, 25 Jan 2019 11:49:06

Sterling forecasters begin to get off the Brexit fence

Banks begin to raise predictions for the pound as fear of a no-deal recedes
FT   |   Fri, 25 Jan 2019 11:47:05

Goldman Sachs CEO warns the UK not to take 'the hard way' on Brexit because it will impact how the bank invests

Goldman Sachs CEO David Solomon says a Brexit will damage Goldman's future in the UK. "If this is resolved in a difficult way, or in a hard way, I do think over time it will have an impact on where we invest and where we put people," he told the ...
Trista Kelley / Business Insider   |   Fri, 25 Jan 2019 11:38:05

EU parliament won't approve Brexit deal without Irish 'backstop': statement

The European Parliament's Brexit group said on Thursday it would not approve an agreement on Britain's departure from the European Union that did not contain a full provision to avoid a hard Irish border. The statement, issued after a meeting of the Brexit Steering Group, sought to dash any hopes ...
sellputs / Hedge Accordingly   |   Fri, 25 Jan 2019 11:35:40

Queen makes plea for Britons to find 'common ground'

The Queen's remarks have been seen as a comment on Brexit, ahead of a key Commons vote next week.
BBC   |   Fri, 25 Jan 2019 11:31:53

Germany: Waiting for UK to make Brexit proposals parliament can back

The German government is waiting for the British government to make proposals on its expected departure from the European Union that can win the backing of parliament, a spokesman said on Friday, adding Germany was working to ensure an orderly Brexit.
Reuters   |   Fri, 25 Jan 2019 11:29:18

May echoes Queen's call for respectful debate - spokesman

Prime Minister Theresa May echoed a call made by Queen Elizabeth for respectful debate in Britain, May's spokesman said on Friday whilst declining to comment directly on remarks from the monarch seen as a message to politicians on Brexit.
Reuters   |   Fri, 25 Jan 2019 11:27:10

London Is Losing Pride, But Don't Blame Brexit

Fuller's can take heart from securing a steep price from Japan's Asahi.
Washington Post   |   Fri, 25 Jan 2019 11:25:02

UK PM spokesman: Changes needed in agreement to avoid a no-deal Brexit

UK PM spokesman, James Slack, addressing the reporters this Friday, said that work on Brexit backstop is ongoing and there are certain changes needed in agreement to avoid a no-deal Brexit. When asked about Finance Minister Hammond's earlier comments that people did not vote for a no-deal Brexit, the spokesman ...
FX Street   |   Fri, 25 Jan 2019 11:21:39

SNB's Jordan: Current expansive monetary policy is still needed

Swiss National Bank (SNB) Chairman Thomas Jordan was out with some comments in the last hour, saying that there really is no need to change the current expansive monetary policy amid increasing global uncertainty. Jordan further added that FX markets are still fragile and a no-deal Brexit could further disturb ...
FX Street   |   Fri, 25 Jan 2019 11:10:10

Treasury launches fresh inquiry into post-Brexit financial regulation as UK enters 'uncharted waters'

The Treasury Select Committee has launched a new inquiry into the future of the UK's financial services once it has left the European Union.
Tom Eckett / Professional Pensions   |   Fri, 25 Jan 2019 10:55:37

GBP/USD deflates from tops, back around 1.3060

Cable comes down after testing highs near 1.3140 earlier in the day. UK Mortgage Approvals dropped to 38.8K in December. No fresh relevant news on Brexit ahead of January 29 vote. The now softer tone around the Sterling is weighing on GBP/USD, dragging it to the 1.3065/60 band, closer to ...
FX Street   |   Fri, 25 Jan 2019 10:35:25

Philip Hammond Refuses To Rule Out Resigning Over No-Deal Brexit

Ned Simons / Huffington Post   |   Fri, 25 Jan 2019 10:28:38

Haggis producer Macsween plans for Brexit fallout

Macsween, Scotland's largest haggis maker, plans to make sure the dish continues to be made.
BBC   |   Fri, 25 Jan 2019 10:24:46

Brexit Boosts Container Ship Rates As Public, Businesses Stockpile Goods

Authored by George Griffiths via Platts' "The Barrel" blog, As the UK's self-imposed Brexit deadline of March 29 looms, some market participants in the container shipping industry are bracing themselves for a boost in rates. Hopes of more clarity on the future relationship between the UK and the EU were ...
Tyler Durden / Zero Hedge   |   Fri, 25 Jan 2019 10:00:00

Queen calls on bickering Britons to 'seek common ground'

Britain's monarch, traditionally silent on political issues, has urged mutual respect and compromise before.
Judith Mischke / Politico   |   Fri, 25 Jan 2019 09:57:42

Airbus CEO warns it could move U.K. operations in event of 'no-deal' Brexit

The chief executive of Airbus warned Thursday that the aviation giant could move its U.K. operations out of Britain if the country leaves the European ...
No Author / Japan Times   |   Fri, 25 Jan 2019 09:33:25

Brexit: 'Very significant disruption' from no deal, says chancellor

The chancellor warns the UK economy would suffer in a no deal Brexit - in the short and long term.
BBC   |   Fri, 25 Jan 2019 09:30:40