Brexit is about to give us a problem with this, though. Karl Marx was right: wages won't rise when there's spare labour available, his "reserve army" of the unemployed. The capitalist doesn't have to increase pay to gain more workers ... read more
Tim Worstall / Tim Worstall | Fri, 8 Feb 2019 06:31:23
The lack of progress in both the Brexit no-deal and the US China trade talks continues to weigh on risk markets with overnight losses festering into the Asian session today as some Chinese markets return from holiday. In currency land most undollar assets are unchanged but the Aussie dollar is ...
Chris Becker / MacroBusiness | Fri, 8 Feb 2019 06:30:06
Your morning briefing for 8 February 2019.
BBC | Fri, 8 Feb 2019 06:22:30
The Reserve Bank of Australia's (RBA) downward revision to its growth forecasts in its quarterly Statement of Monetary Policy (SoMP) knocked-off the Aussie dollar across the board, with the AUD/USD having hit fresh five-week lows near 0.7060 region. The bulls were quickly rescued by an uptick in iron-ore prices that ...
FX Street | Fri, 8 Feb 2019 06:03:05
Natasha Hinde / Huffington Post | Fri, 8 Feb 2019 06:00:20
The prime minister will meet her Irish counterpart for what Ireland calls discussions, not negotiations.
BBC | Fri, 8 Feb 2019 05:59:45
Theresa May is set to hold talks with Irish leader Leo Varadkar as she tries to break the deadlock over the Irish border backstop.
Sky | Fri, 8 Feb 2019 05:40:00
Donald Tusk's hard Brexit inferno
FT | Fri, 8 Feb 2019 05:00:35
Investors are expecting EUR/GBP to rise on account of Brexit uncertainty, risk reversals indicate. EUR/GBP risk reversals, a gauge of calls to puts, is currently trading in favor of calls (bullish bets) at 0.75 vs zero on Jan. 21. The near 90-degree rally represents a sharp rise in the demand ...
FX Street | Fri, 8 Feb 2019 04:58:39
Britain and the EU agreed Thursday to hold more talks to try to avoid a no-deal Brexit, after a "robust" meeting between Prime Minister Theresa May and European Commission chief Jean-Claude Juncker. But Juncker expressed only his "openness to add wording" to a parallel political declaration if London wants to ...
Times of India | Fri, 8 Feb 2019 04:23:59
The Cable refrains from extending prior gains and struggles around 1.2950 on early Friday. Chances of a soft Brexit grew after the EU agrees for renegotiating earlier deal by the February end if the UK resolves the Irish border issue. UK PM Theresa May travels Ireland to convince Dublin leaders ...
FX Street | Fri, 8 Feb 2019 04:13:49
Does veteran investor and arch Brexiter have a plan B for his Tungsten stake?
FT | Fri, 8 Feb 2019 04:00:26
Reuters is out with the latest headlines reported by the Sun News, citing that the UK PM Theresa May has approached a number of Labour Party (the opposition party) members of parliament to table the amendment to her Brexit withdrawal motion. The Sun further notes that PM May is likely ...
FX Street | Fri, 8 Feb 2019 00:20:52
Hold-ups to new regulator and laws open risk of dumping and unfair subsidies
FT | Fri, 8 Feb 2019 00:02:12
Rachel Wearmouth / Huffington Post | Fri, 8 Feb 2019 00:01:14
Laura Donnelly / Telegraph | Fri, 8 Feb 2019 00:01:00
The press keeps tabs on the tricky course being followed by both Theresa May and Jeremy Corbyn over Brexit.
BBC | Thu, 7 Feb 2019 23:51:40
The UK Telegraph carried a story on another secret Brexit plan, citing that the UK government will cut taxes and slash tariffs under secret plans drawn up by officials to kick-start the economy in the event of a no-deal Brexit. Additional Points: "Sir Mark Sedwill, the Cabinet Secretary, has led ...
FX Street | Thu, 7 Feb 2019 23:07:18
Jeremy Corbyn forced to calm growing Labour backlash over his offer to help Theresa May deliver Brexit
Labour leader writes to party members to deny ditching option of backing Final Say referendum, amid threat of MP resignations
Benjamin Kentish / The Independent | Thu, 7 Feb 2019 22:05:30
In the United States and Western Europe, a vibrant debate has erupted on the future of capitalism and how to revamp prevailing economic models to address grievances and meet new demands for redistribution and social and environmental protection. Following the twin shocks of 2016-the U.K. Brexit vote and the election ...
Geoff Gertz / Brookings | Thu, 7 Feb 2019 21:24:42
The most vulnerable people around the world face infernal uncertainty and possible disaster thanks to officials' incompetence.
Natasha Hakimi Zapata / truthdig | Thu, 7 Feb 2019 20:52:11
British minister flags possibility of import tariffs being cut on food and goods should there be no deal.
Latika Bourke / SMH | Thu, 7 Feb 2019 20:49:47
Senior lawmakers from both parties question post-Brexit trade deal if peace accord threatened
FT | Thu, 7 Feb 2019 20:47:41
Labour's plan receives a positive response in Brussels.
Charlie Cooper, David M. Herszenhorn / Politico | Thu, 7 Feb 2019 20:16:40
The transport secretary asks Thanet council not to make a decision on the future of Ramsgate's port.
BBC | Thu, 7 Feb 2019 20:16:12
PM admits not easy to salvage deal and Tusk says no breakthrough in sight
FT | Thu, 7 Feb 2019 20:14:33
Paul Waugh / Huffington Post | Thu, 7 Feb 2019 20:09:17
Ministers threaten to quit as PM makes scant progress
Jon Stone, Rob Merrick / The Independent | Thu, 7 Feb 2019 20:06:45
British PM and European Commission chief to meet again as EU refuses to reopen negotiations on Irish backstop.
Al Jazeera | Thu, 7 Feb 2019 19:26:18
The Bank's gloomy forecast sent the pound down but it rose again - despite the threat of recession Mark Carney could just as easily have shrugged his shoulders and declared that, like the rest of us, he hasn't a clue how Brexit will work out. Instead, the Bank of England ...
Nils Pratley / Guardian | Thu, 7 Feb 2019 19:12:18