Brexit News Archive: 04 Feb 2019

May will speak to EU business, visit Northern Ireland to bolster Brexit plan

Prime Minister Theresa May will talk to European businesses on Monday to underline the importance of Britain leaving the EU with a deal, a day before she travels to Northern Ireland to make a speech on Brexit, her spokesman said on Monday.
Reuters   |   Mon, 4 Feb 2019 11:51:33

UK: Construction PMI weakened to 50.6 in January - TDS

Analysts at TD Securities note that the UK's January Construction PMI weakened to 50.6 (mkt: 52.5), its slowest pace since the March 2018 winter storms, as the New Orders and Employment indexes slowed notably. Key Quotes "Respondents noted that Brexit uncertainty was weighing on business in the construction sector, which ...
FX Street   |   Mon, 4 Feb 2019 11:38:22

Sterling falls as PM May moves to end Brexit impasse

May aims to get parliament's approval for a revised deal on Feb. 13. If that fails, parliament will vote on next steps on Feb. 14.
Reuters / Financial Express   |   Mon, 4 Feb 2019 11:07:44

Brexit: Talks on backstop 'alternative arrangements'

The government gathers Leave and former Remain Conservatives to try to find a way forward on Brexit.
BBC   |   Mon, 4 Feb 2019 10:51:22

UK is still going round in circles over Brexit

Latest parliamentary events can only return the country to the same place
FT   |   Mon, 4 Feb 2019 10:50:08

UK: Manufacturers ramped up their preparations for Brexit - RBS

According to analysts at Royal Bank of Scotland, UK manufacturers ramped up their preparations for Brexit with stockpiles rising at the fastest rate in the manufacturing PMI's 27yr history, on mounting fears over potential supply-chain disruptions. Key Quotes "Output growth, current and future expectations, eased to 30 month lows. New ...
FX Street   |   Mon, 4 Feb 2019 10:40:31

Abe and Merkel seek to take Japan-Germany ties to 'higher level' amid trade turmoil and Brexit

German Chancellor Angela Merkel met Prime Minister Shinzo Abe on Monday in Tokyo, where the two leaders pledged to further strengthen the bilateral relationship as ...
Reiji Yoshida / Japan Times   |   Mon, 4 Feb 2019 10:36:48

Back Theresa May's Deal Or Risk Delaying Brexit, Tory MPs Told

Ned Simons / Huffington Post   |   Mon, 4 Feb 2019 10:33:20

Labour's path to victory is through Leave-voting Conservative marginals

Labour must maintain a broad electoral coalition if it wishes to form a government. Its path to Downing Street goes through the Leave-voting Conservative marginals, writes Richard Johnson (Lancaster University). Winning the Conservative-held constituencies in England and Wales that voted for Brexit is a sine qua non for the formation ...
Roch Dunin-Wasowicz / LSE   |   Mon, 4 Feb 2019 10:30:32

Brexit: May's March to Nowhere

Brexit angst is rising, yet nothing fundamental has changed.
Yves Smith / Naked Capitalism   |   Mon, 4 Feb 2019 10:05:42

EUR/GBP turns positive post-UK PMI, back closer to Friday's near 2-week tops

• Brexit uncertainties continue to dent sentiment surrounding the British Pound. • UK construction PMI falls to 10-month low and further adds to the GBP selling. • Bullish traders seemed unaffected by a slump in Euro-zone investor confidence. The EUR/GBP cross quickly reversed an early European session dip to 0.8740 ...
FX Street   |   Mon, 4 Feb 2019 10:04:30

GBP/USD tumbles to session lows near 1.3050

Cable moves lower and approaches the 200-day SMA. UK Construction PMI dropped to 50.6 in January. Brexit negotiations expected to resume this week. The offered bias around the British Pound remains well and sound at the beginning of the week and is now dragging GBP/USD to fresh daily lows in ...
FX Street   |   Mon, 4 Feb 2019 10:04:06

PMI survey shows UK construction growth at 10-month low

Brexit uncertainty bites as business activity slows, poll of industry executives shows
FT   |   Mon, 4 Feb 2019 10:02:44

UK Tory lawmaker Jacob Rees-Mogg: Leaving EU with no deal is a rational decision

UK Tory lawmaker Jacob Rees-Mogg, in an interview to LBC Radio this Monday, said that they would accept Brexit deal without Irish backstop and leaving the EU with no-deal is a rational decision. He was further noted saying that the key is to have a functional government after Brexit and ...
FX Street   |   Mon, 4 Feb 2019 09:38:19

Bankers happy to see the back of dry January

Fundraisings fade due to Brexit, the US shutdown and wobbles in global markets
FT   |   Mon, 4 Feb 2019 09:09:58

In Northern Ireland, old fears and long shadows

For 20 years, Northern Ireland was tucked out of sight of Westminster. But the combination of the row over the backstop, the DUP's power-broking and two years without any government in Stormont have changed that. The hatred and revenge that flowed from British-Irish power struggles is child's play to arouse ...
Ros Taylor / LSE   |   Mon, 4 Feb 2019 09:07:59

Brexit news - live: Theresa May gathers Tory rebels for last-ditch meetings as EU negotiator dismisses key part of her plan

Follow for live updates from Westminster
Lizzy Buchan / The Independent   |   Mon, 4 Feb 2019 08:58:01

Ryanair falls into red as it warns no-deal Brexit risk is 'worryingly high'

Michael O'Leary extends contract as chief executive by five years until July 2024 Ryanair slipped into the red at the end of last year after intense competition forced it to cut fares across Europe, and reiterated that Brexit could drag down full-year profits. Chief executive Michael O'Leary described the third-quarter ...
Julia Kollewe / Guardian   |   Mon, 4 Feb 2019 08:17:57

Brexit: What are the new ideas for the Irish backstop?

As the PM plans to return to the EU with new ideas on the Irish backstop, what could be discussed?
BBC   |   Mon, 4 Feb 2019 06:27:34

Nissan deals Brexit blow as Theresa May launches new working group to look for a 'plan B'

British Prime Minister Theresa May is launching a new working group to look for a 'plan B' on Brexit, but the leader's latest initiative comes ...
No Author / Japan Times   |   Mon, 4 Feb 2019 05:26:12

Banks fret over investor inaction on Brexit

Few clients have returned documents allowing them to trade smoothly in event of no-deal
FT   |   Mon, 4 Feb 2019 05:00:36

Monday, February 4

Prime Minister Theresa May says she is still committed to renegotiating her Brexit d...
FT   |   Mon, 4 Feb 2019 05:00:00

Nissan cites Brexit 'uncertainty' as it scraps plans to build model in Britain

Japanese car manufacturer Nissan has confirmed it is scrapping plans to build a new model in the English city of Sunderland, citing uncertainty over Brexit and further highlighting employers' fears of a no-deal departure by the UK from the European Union.
CNN   |   Mon, 4 Feb 2019 04:41:14

Varadkar beset by Brexit backstop worries

Irish prime minister is vital to any deal - and would face dilemma over border checks
FT   |   Mon, 4 Feb 2019 04:00:25

No Deal Brexit: Nissan Scraps Plan To Build X-Trail In UK Over 'Uncertainty'

Citing Brexit as the main reason, Nissan Motor Company, Ltd told employees at its Sunderland assembly plant that it has abandoned plans to produce the new Nissan X-Trail compact crossover SUV in the United Kingdom. Nissan originally planned to produce the X-Trail at Sunderland but now said all production of ...
IBTimes   |   Mon, 4 Feb 2019 03:48:41

I'm now French - and it's more than a flag of convenience

It's about much more than Brexit.
Paul Taylor / Politico   |   Mon, 4 Feb 2019 03:02:24

A Brexit deal requires keyhole surgery, not amputation

Small changes are required to give the UK the reassurance it seeks.
Henry Newman / Politico   |   Mon, 4 Feb 2019 03:00:08

Hardline Brexiteers join taskforce in search of Brexit deal

Brexit Barclay is due to meet members of a new working group of Conservative MPs to find an alternative plan to avoid a post-Brexit hard Irish border.
Sky   |   Mon, 4 Feb 2019 02:54:00

GBP/JPY: Bulls step up to challenge Brexit risk as US stocks pick up

GBP/JPY has struggled to maintain the bid considering a hard Brexit is very much a factor. The yen is weaker as the Fed put plays out (risk-on) and the dollar, stocks and US yields pick up a bid on strong US data. GBP/JPY is likely to be a key focus ...
FX Street   |   Mon, 4 Feb 2019 02:03:36

Scotland's Sturgeon: UK nowhere near ready for Brexit, calls on a 2nd referendum

The UK Times is out with a brief preview as to what the Scottish First Minister Nicola Sturgeon would say in her scheduled speech later on Monday in the US. The newspaper reported that Sturgeon is likely to say that the UK is nowhere ready for Brexit. She is also ...
FX Street   |   Mon, 4 Feb 2019 01:49:35

May will seek solution to Brexit deal in Brussels

British Prime Minister Theresa May said on Sunday she would seek a "pragmatic solution" to a parliamentary impasse over the terms on which Britain leaves the European Union when she tries to reopen talks with Brussels.
Reuters   |   Mon, 4 Feb 2019 01:32:11

Sturgeon to say UK not ready for Brexit - The Times

Scotland's First Minister Nicola Sturgeon will warn that UK is "not remotely prepared" to leave the European Union in less than two months, the Times newspaper reported on Monday.
Reuters   |   Mon, 4 Feb 2019 01:31:57

UK PM May will seek 'pragmatic' solution to Brexit deal in Brussels

British Prime Minister Theresa May said on Sunday she would seek a "pragmatic solution" to a parliamentary impasse over the terms on which Britain leaves the European Union when she tries to reopen talks with Brussels.
Reuters   |   Mon, 4 Feb 2019 01:30:38

German ForeignMin Maas: Exit from Brexit seems unlikely

In an interview with the Funke media group on Sunday, the German Foreign Minister Heiko Maas noted that he would like to see an "exit from Brexit". Key Quotes: Britain's only path to avoiding a so-called "hard Brexit" was to accept the existing deal. "The agreement we negotiated with Britain ...
FX Street   |   Mon, 4 Feb 2019 01:30:12

Scotland's Sturgeon to say Britain not ready for Brexit: The Times

Scotland's First Minister Nicola Sturgeon will warn that UK is "not remotely prepared" to leave the European Union in less than two months, the Times newspaper reported on Monday.
Reuters   |   Mon, 4 Feb 2019 01:28:54

Sources: EU agrees no-deal Brexit compensation for Irish farmers - Sunday Times

The Irish edition of the Sunday Times newspaper quoted the Irish government and EU sources, as saying that should there be a collapse in beef and dairy prices due to a no-deal Brexit outcome, the European Commission has agreed to compensate the Irish farmers, Reuters reports. Key Points: "Farmers would ...
FX Street   |   Mon, 4 Feb 2019 00:27:33