Brexit News Archive: 11 Feb 2019

Barnier and Barclay break bread, but not Brexit deadlock

New negotiator for Britain wins no new concessions on Northern Ireland backstop.
David M. Herszenhorn / Politico   |   Mon, 11 Feb 2019 22:21:28

EU, UK Brexit negotiators hold 'constructive' talks - UK spokesperson

The European Union's Brexit negotiator Michel Barnier and Britain's Brexit Secretary Stephen Barclay held a meeting in Brussels on Monday evening, a British government spokesperson said.
Reuters   |   Mon, 11 Feb 2019 21:33:11

May to plead for more time to overhaul Brexit deal

Signs PM is starting to wear down opponents of her draft exit treaty
FT   |   Mon, 11 Feb 2019 19:55:50

Food and drink producers urge Gove to stall reforms

Planning for no-deal Brexit seen as too important to focus on issues like recycling and forestation
FT   |   Mon, 11 Feb 2019 19:24:04

PM May to Make Statement to Parliament on Tuesday: Brexit Update

Jack Dromey, the Labour politician whose cross-party amendment with Conservative Caroline Spelman to block a no-deal Brexit was passed by the House of Commons last month, said he is waiting until after Theresa May speaks on Tuesday before deciding whether to propose a repeat. "Has she got the message?" Dromey ...
sellputs / Hedge Accordingly   |   Mon, 11 Feb 2019 18:38:35

The Guardian view on the UK economy: before Brexit, rescue it from austerity | Editorial

The public want the government to spend more, yet the Tories cannot grasp how this makes economic and political sense Last week it was revealed that a secret group of Whitehall officials were drawing up plans to rescue the economy if it were to tank after Brexit. However, the release ...
Editorial / Guardian   |   Mon, 11 Feb 2019 18:30:41

UK signs Brexit trade continuity deal with Switzerland

Ministers are rushing to try to ensure continuity of about 40 free trade deals held by EU Britain has signed a trade continuity agreement with Switzerland to avoid disruption for thousands of businesses post-Brexit, less than 50 days before the UK is due to leave the EU. The Department for ...
Richard Partington / Guardian   |   Mon, 11 Feb 2019 18:17:23

Grayling refuses to reveal Brexit contract cancellation fee

The transport secretary has defended stripping a ferry company with no ferries from a no-deal Brexit contract, but refused to say how much it has cost the taxpayer.
Sky   |   Mon, 11 Feb 2019 18:15:00

Brexit referendum spurs British companies into investing in EU: research

The 2016 Brexit vote spurred British companies into increasing investment in European Union countries sharply, likely at the expense of spending at home, an academic study showed on Monday. The referendum result led to a 12 percent increase in foreign direct investment transactions from Britain into the EU between mid-2016 ...
sellputs / Hedge Accordingly   |   Mon, 11 Feb 2019 18:08:09

Brexit: New video shows Jeremy Corbyn vowing to 'defeat' the EU before he became party leader

The footage will raise further questions for those aggravated that the party is not yet supporting a second referendum
Joe Watts / The Independent   |   Mon, 11 Feb 2019 17:52:00

UK economy slows to six-year low amid Brexit uncertainty

Latest figures from the UK's Office for National Statistics highlight slowdowns across a number of industries.
Al Jazeera   |   Mon, 11 Feb 2019 17:22:37

Tilson Fans Angry Over Tesla, Cryptos And Cory Booker Comments

Whitney Tilson's email to investors discussing Tesla; Ask me if I give a crap; Snapchat; Bezos accuses The National Enquirer of extortion and blackmail; Fyre Fraud; Brexit. Q4 hedge fund letters, conference, scoops etc 1) Yesterday's email generated more blowback than [...] The post Tilson Fans Angry Over Tesla, Cryptos ...
Jacob Wolinsky / Value Walk   |   Mon, 11 Feb 2019 17:21:07

Move your Brexit red lines, Labour and EU both tell Theresa May

Starmer calls for vote on customs union as Barnier says he will simply repeat EU position in meeting
Jon Stone / The Independent   |   Mon, 11 Feb 2019 17:18:00

Chris Grayling shows that a shipping company with no ships is not a problem when you're a minister with no brain

What must life be like on Planet Grayling? Where everyone can tell you you're wrong, you disagree, and then when it turns out they're right, you and you alone think it's proof they were wrong all along?
Tom Peck / The Independent   |   Mon, 11 Feb 2019 17:14:00

Why A No-Deal Brexit Is Now Theresa May's Fallback Plan To Save Her Party - And Herself

Paul Waugh / Huffington Post   |   Mon, 11 Feb 2019 17:09:28

British, US banks deeply divided on Brexit ties

Taipei Times   |   Mon, 11 Feb 2019 17:04:52

GBP/USD: Bears eye 50% Fibo retracement to 1.2830

GBP/USD has moved below the midpoint of the regression channel to session lows. UK data is reflecting Brexit concerns as the count down heads into the 11th hour. GBP/USD en route to the 1.2830 Fibo retracement level. GBP/USD is under the weather following a number of misses in data overnight ...
FX Street   |   Mon, 11 Feb 2019 16:56:01

Mobile roaming charges: What will happen in Europe after Brexit?

Will Brits be able to use their mobile phones in Europe after Brexit without paying extra?
BBC   |   Mon, 11 Feb 2019 16:53:28

Alexandria Ocasio-Cortez gives Brexit cocktail recipe

'A straight shot of bathtub gin, with no imported botanicals.'
Eline Schaart / Politico   |   Mon, 11 Feb 2019 16:49:34

Brexit: UK food industry threatens to stop cooperating with government over 'catastrophic' no-deal risk

More than 30 trade associations ready to refuse to respond to 'non-Brexit related initiatives' - arguing all energies must be focused on crash-out risk
Rob Merrick / The Independent   |   Mon, 11 Feb 2019 16:40:08

Government to miss Brexit trade deal target

Government officials have admitted for the first time that they will not be able to renegotiate all trade treaties involving the European Union by the end of March.
Sky   |   Mon, 11 Feb 2019 16:25:00

Businesses swamped by Brexit urge Gove to delay all other plans

Government has been asked to halt all food, farming and environment consultations The government has been asked to pause as a matter of "great urgency" consultations on all food, farming and environment issues because Brexit is choking the capacity of businesses to respond to Michael Gove's plans. Leaders from 32 ...
Lisa O'Carroll Brexit correspondent / Guardian   |   Mon, 11 Feb 2019 16:18:52

Chris Grayling refuses to resign over ferry contract fiasco after being branded 'off the richter scale of incompetence'

Transport secretary told he is 'rewriting the textbook on ministerial incompetence' amid row over Seaborne Freight deal
The Independent   |   Mon, 11 Feb 2019 15:58:00

Brexit delivers a shuddering blow to UK economic data

Figures reveal that the economy is even weaker than expected, as contraction fears mount
FT   |   Mon, 11 Feb 2019 15:55:33

UK public services face post-Brexit squeeze, forecasters warn

Many British public services risk ongoing real-terms cuts for years to come, despite a softer fiscal stance from finance minister Philip Hammond, a major think tank predicted ahead of a half-yearly budget update next month.
Reuters   |   Mon, 11 Feb 2019 15:53:07

World stocks edge higher ahead of trade talks, Brexit

Stock markets globally edged higher on Monday as investors eyed the resumption of trade talks between the United States and China and watched for signs of progress on Brexit.
Reuters   |   Mon, 11 Feb 2019 15:40:01

UK growth slows amid Brexit uncertainty

Economy expands just 0.2% in fourth quarter of 2018 with Brexit looming
FT   |   Mon, 11 Feb 2019 15:38:57

UK Sending Aircraft Carrier To China In "Show Of Force"

Perhaps out of humiliation over the ongoing spectacular tragicomedy that is Brexit, and in desperate need of a distraction from her domestic political troubles, Theresa May has taken a page out of the the US neocon playbook, and has decided to send Britain's new aircraft carrier to China's backyard in ...
sellputs / Hedge Accordingly   |   Mon, 11 Feb 2019 15:37:41

Food industry warns Gove on Brexit 'crisis'

Business leaders threaten to stop co-operating with government policy consultations as no-deal Brexit looms.
BBC   |   Mon, 11 Feb 2019 15:26:22

'Something has to give,' EU's Barnier tells Brexit Britain

The European Union's Brexit negotiator Michel Barnier said on Monday British Prime Minister Theresa should endorse a permanent customs union with the bloc -- as proposed by the opposition Labour party -- to break the impasse over their looming divorce.
Reuters   |   Mon, 11 Feb 2019 14:58:20

"Something has to give," EU's Barnier tells Brexit Britain

The European Union's Brexit negotiator Michel Barnier said on Monday British Prime Minister Theresa should endorse a permanent customs union with the bloc -- as proposed by the opposition Labour party -- to break the impasse over their looming divorce.
Reuters   |   Mon, 11 Feb 2019 14:55:33

The Irish parties reaching across the border towards a new era for nationalism

Analysis: As Brexit looms, nationalists in Northern Ireland are increasingly looking to Dublin for representation. Now, as Ben Kelly explains, political parties are responding in new, innovative ways
Ben Kelly / The Independent   |   Mon, 11 Feb 2019 14:54:01

UK signs post-Brexit trade deal with Switzerland

The "continuity agreement" will see the two countries continue to trade as they do now, after Brexit.
BBC   |   Mon, 11 Feb 2019 14:51:24

Barking mad: Why Britain's pet owners fear Brexit impact

Animal lovers are uncertain over travel rules, worried about pet food and do not want to lose European veterinarians.
Al Jazeera   |   Mon, 11 Feb 2019 14:47:22

Factbox: Brexit - What will happen in the British parliament on Feb. 14?

The British parliament is set to hold a debate on Brexit on Feb. 14 but this is not a re-run of a vote last month on whether to approve the exit deal Prime Minister Theresa May's negotiated with the European Union.
Reuters   |   Mon, 11 Feb 2019 14:47:02

Factbox - Brexit: What will happen in the British parliament on February 14?

The British parliament is set to hold a debate on Brexit on Feb. 14 but this is not a re-run of a vote last month on whether to approve the exit deal Prime Minister Theresa May's negotiated with the European Union.
Reuters   |   Mon, 11 Feb 2019 14:36:03

Brexit: EU's deputy chief negotiator dismisses chances of second referendum as 'non-existent'

Sabine Weyand accused some Remainers of 'Cakeism' - wanting to have their cake and eat it
Jon Stone / The Independent   |   Mon, 11 Feb 2019 14:24:00

Civil Servants Receive 'Resilience Toolkit' to Help Them Cope With Brexit Grief

Civil servants have naturally been grumbling about having to do slightly more work than usual as they prepare for Brexit. Luckily for those working in the Department of Health, they've just been issued with a "Toolkit for staff during EU Exit" on "Change management and resilience" to help them "understand ...
Hugh Bennett / Guy Fawkes' blog   |   Mon, 11 Feb 2019 14:18:24

Gavin Williamson thinks Britain risks becoming a 'paper tiger'. It's worse than that. We're a paper Gavin Williamson

Hearing little Gavin talk about his new tanks and gunships was like watching an excited little boy explain the functionality of his show-stopping Christmas present to a bored grandparent on Boxing Day
Tom Peck / The Independent   |   Mon, 11 Feb 2019 14:15:00

Ministers May Have To 'Manage Decline' Of Industries In A No-Deal Brexit, Think-Tanks Warn

Arj Singh / Huffington Post   |   Mon, 11 Feb 2019 14:12:24

"Something has to give," EU's Barnier tells Brexit UK

EU Brexit negotiator Michel Barnier suggested on Monday British Prime Minister Theresa moves towards proposals by the opposition Labour Party on a permanent customs union with the bloc to break the impasse over the details of the looming divorce.
Reuters   |   Mon, 11 Feb 2019 14:04:18

Supposed backer of no-ships ferry firm says it had no agreement

Arklow Shipping was 'just a prospective investor probably in a long line of others' Chris Grayling's Brexit ferry fiasco has taken a further twist after the reported backer of the startup company with no ships that was awarded a £13.8m contract said it never had a stake in the venture. ...
Lisa O'Carroll Brexit correspondent / Guardian   |   Mon, 11 Feb 2019 14:00:22

Why Brexit scares Airbus and BMW

If everything goes according to plan, truck driver Gordon Terry needs 44 hours to haul a shipment of car parts from Turin, Italy to Jaguar Land Rover's factory outside of Liverpool.
CNN   |   Mon, 11 Feb 2019 13:56:14

2019: The Three Trends That Matter

Authored by Charles Hugh Smith via OfTwoMinds blog, Look no further than Brexit in Britain, the yellow vests in France and the Deplorables in the U.S. for manifestations of a broken social contract and decaying social order. Among the many trends currently in play, Gordon Long and I discuss three ...
Tyler Durden / Zero Hedge   |   Mon, 11 Feb 2019 13:55:18

May 'not considering' Corbyn's customs union plan

Theresa May is "not considering" Jeremy Corbyn's plan to remain in a customs union with the EU in order to secure cross-party support for a Brexit deal, Downing Street has said.
Sky   |   Mon, 11 Feb 2019 13:51:00

EU's Barnier: extremely little time left to settle Brexit deal

The European Union's Brexit negotiator Michel Barnier warned Britian on Monday that time was "extremely short" to settle a divorce deal before Britain is due to leave the bloc on March 29.
Reuters   |   Mon, 11 Feb 2019 13:49:44

EU deputy Brexit negotiator: UK leaving will have 'limited' impact on EU security

'In the exchange of secret service information, Great Britain is a lot less active than Germany and France.'
Joshua Posaner, Janosch Delcker / Politico   |   Mon, 11 Feb 2019 13:45:02

How The Seaborne Freight Saga Became Prime Contender For A Brexit 'The Thick Of It' Reboot

Chris York / Huffington Post   |   Mon, 11 Feb 2019 13:44:49

EU's Barnier: Will not reopen Brexit deal

The EU's chief Brexit negotiator Michel Barnier was out with some comments in the last hour, reiterating that we will not reopen Brexit deal and that Irish backstop is not EU's view of future ties with Britain but is just an insurance policy. The UK PM Theresa May has told ...
FX Street   |   Mon, 11 Feb 2019 13:44:08

Post-Brexit UK ready to use "hard power" - defence minister

Britain will use military force to support its interests after Brexit, defence minister Gavin Williamson said on Monday, in a speech setting out a global role for the armed forces but with little detail on how to fund such ambitions in the long term.
Reuters   |   Mon, 11 Feb 2019 13:37:05

No-deal Brexit 'could cost 600,000 jobs worldwide': Study

Researchers at the IWH institute in Halle, eastern Germany, examined what would happen if UK imports from the remaining EU fell 25 per cent after Brexit. They reckoned that some 103,000 jobs would be under threat in Europe's largest economy Germany and 50,000 in France.Being affected by Brexit would not ...
Times of India   |   Mon, 11 Feb 2019 13:31:00

10 Monday AM Reads

My start the week morning train Florida reads: • Damadoran: Dividends and Buybacks - Fact and Fiction (Musings on Markets) • Has There Been a Shift in Support for Brexit? (What UK Thinks) see also The Brexit delusion of creating 'Singapore upon Thames' (Financial Times) • For investors, most financial ...
Barry Ritholtz / The Big Picture   |   Mon, 11 Feb 2019 13:04:09

Brexit news: Labour MPs demand Corbyn answer claim he cut line about second referendum from letter to May

Labour leader's office alleged to have agreed the letter should support a fresh referendum, if his compromise was rejected - only to omit the sentence at the last minute
Rob Merrick / The Independent   |   Mon, 11 Feb 2019 12:53:00

Brexit: Theresa May to give MPs update on Tuesday

The statement comes ahead of an expected debate on Brexit options on Thursday.
BBC   |   Mon, 11 Feb 2019 12:40:53

Britain's May seeks more time from MPs for Brexit talks

The British government is seeking to win more time to secure EU concessions on Brexit that could pass parliament and avert a chaotic split from the bloc on March 29. Businesses and governments are on edge because Britain is just weeks away from its scheduled departure from the European project ...
sellputs / Hedge Accordingly   |   Mon, 11 Feb 2019 12:35:58

Parliamentary systems do better economically than presidential ones

Numerous amendments are being negotiated in the UK parliament in an attempt to break the Brexit stalemate. There does not seem to be a clear majority for any specific way forward with Brexit and the parliamentary arithmetic has so far worked against the government. Meanwhile, the clock is ticking before ...
Richard McManus, Senior Lecturer in Economics, Canterbury Christ Church University / The Conversation   |   Mon, 11 Feb 2019 12:33:06

Britain's Brexit slump will be quietly cheered in some quarters | Larry Elliott

Those hoping to push through May's deal can use the excuse, but the truth runs deeper Britain's economy underperformed already low expectations for the final three months of 2018 and there will be plenty of government ministers who will be quietly pleased about that. Related: Manufacturing slump puts UK economy ...
Larry Elliott Economics editor / Guardian   |   Mon, 11 Feb 2019 12:29:32

Stocks inch higher as investors look ahead to trade talks, Brexit

World stock markets edged higher on Monday, as investors eyed the resumption of trade talks between the United States and China and watched for signs of progress on Brexit.
Reuters   |   Mon, 11 Feb 2019 12:26:14

Brexit: could the EU really be convinced to budge on the backstop?

A popular view in the UK is that the EU is implacable and immovable on the question of the Brexit backstop. But a more careful reading of statements from senior EU officials and from figures in the member states suggests that there is some room for manoeuvre - albeit within ...
Simon Usherwood, Reader in Politics, University of Surrey / The Conversation   |   Mon, 11 Feb 2019 12:24:40

GBP/USD sticks to dismal UK data-led weakness, around 1.2900 handle

• Disappointing UK macro data further dents the already weaker sentiment around GBP. • A modest USD pull-back from multi-week tops helped limit deeper losses, at least for now. • Investors still seemed reluctant to place aggressive bets amid persistent Brexit uncertainties. The GBP/USD pair held on to its disappointing ...
FX Street   |   Mon, 11 Feb 2019 12:20:30

OANDA Market Insights podcast (episode 51)

OANDA Senior Market Analyst Craig Erlam previews the week's business and market news with Jazz FM Business Breakfast presenter Jonny Hart. They discuss Brexit, US/China trade talks, US and UK data and corporate earnings season.
Craig Erlam / OANDA   |   Mon, 11 Feb 2019 12:17:56

Resolution Foundation Flouts Charity Commission's New Political Ruling

The Resolution Foundation, the welfare reform focused think tank which has charitable status, hosted an event this morning at its Westminster offices on the subject of "British politics beyond Brexit: Where are Labour heading?" According to their website "Shadow Cabinet Office Minister Jon Trickett will set out his vision for ...
order-order / Guy Fawkes' blog   |   Mon, 11 Feb 2019 12:10:32

Stocks to watch: TalkTalk, Barratt, Bovis, Lloyds, RBS

Hard Brexit risks suggest housebuilders have rallied far enough, says Liberum
FT   |   Mon, 11 Feb 2019 12:05:34

IT sector less attractive after recent stocks' rally, says Kotak Securities; check top bets

While the IT sector has emerged as a major outperformer in the last one year, the IT sector could see a slowdown in FY20 on account of various factors including uncertainty around Brexit, and trade wars, according to a report. We take a closer look.
FE Online / Financial Express   |   Mon, 11 Feb 2019 12:04:52

UK and Switzerland strike a deal on post-Brexit trade

Britain and Switzerland signed a deal on Monday to preserve trade relations between the two countries even if London leaves the European Union without a deal with Brussels. British international trade secretary Liam Fox and Swiss Economy Minister Guy Parmelin signed the bilateral trade agreement in Bern on Monday. "This ...
Agence France-Presse / South China Morning Post   |   Mon, 11 Feb 2019 11:57:07

UK's May rejects pivot toward Brexit customs union compromise

British Prime Minister Theresa May has rejected the idea of targeting a customs union with the European Union, pouring cold water on hopes from some that she could shift her Brexit policy to win over the opposition Labour Party.
Reuters   |   Mon, 11 Feb 2019 11:53:51

May rejects pivot towards Brexit customs union compromise

British Prime Minister Theresa May has rejected the idea of targeting a customs union with the European Union, pouring cold water on hopes from some that she could shift her Brexit policy to win over the opposition Labour Party.
Reuters   |   Mon, 11 Feb 2019 11:53:21

PM May to make Brexit statement on Tuesday - spokesman

British Prime Minister Theresa May will make a statement on Tuesday to update lawmakers on her talks to win changes to the Brexit deal, her spokesman said on Monday, before parliament votes on her next steps.
Reuters   |   Mon, 11 Feb 2019 11:53:12

British PM May to make Brexit statement on Tuesday: spokesman

British Prime Minister Theresa May will make a statement on Tuesday to update lawmakers on her talks to win changes to the Brexit deal, her spokesman said on Monday, before parliament votes on her next steps.
Reuters   |   Mon, 11 Feb 2019 11:52:11

Brexit: Theresa May needs to 'take a breath' and admit UK is not ready to leave EU, say remainer Tory MPs

Prime minister's plan will leave communities and families worse off, MPs and peers warn
Benjamin Kentish / The Independent   |   Mon, 11 Feb 2019 11:52:00

UK PM Spokesman: Meaningful vote on Brexit won't be this week

The UK PM Theresa May's spokesman, James Slack was out on the wires in the last hour, via Reuters, saying that the government will bring a vote on Brexit deal to the Parliament as soon as possible but will not be this week. Additional quotes: • The PM will make ...
FX Street   |   Mon, 11 Feb 2019 11:50:03

Hammond says now not time for Brexit delay - Channel 4

British finance minister Philip Hammond does not believe the time is right for Britain to ask the European Union to delay its scheduled March 29 departure from the bloc, broadcaster Channel 4 reported on Monday.
Reuters   |   Mon, 11 Feb 2019 11:37:19

Manufacturing slump puts UK economy into reverse as Brexit looms

GDP contracts by 0.4% in December in weakest year for growth since 2012 The British economy plunged into reverse in December as Brexit draws nearer, with a broad-based slump in economic output completing the weakest year for growth since 2012. The Office for National Statistics said gross domestic product contracted ...
Richard Partington Economics correspondent / Guardian   |   Mon, 11 Feb 2019 11:30:47

What The Hell Is Going On With Brexit? A Bluffer's Guide To This Week In Parliament

Jasmin Gray / Huffington Post   |   Mon, 11 Feb 2019 11:30:42

Quite so Professor, quite so

It could be that the UK is heading the world into a downturn: it's happened before. It could be Brexit, which is what most commentators outside the UK think. What it is not is good for the conventional view of ... read more
Tim Worstall / Tim Worstall   |   Mon, 11 Feb 2019 11:29:10

Smuggling in the Irish borderlands - and why it could get worse after Brexit

Central to the fate of the Brexit negotiations is the future of the Irish border. Politicians from all sides insist they want to avoid a return to border checks once the UK leaves the EU - but they disagree on how this can be achieved. The history of smuggling across ...
Cathal McCall, Professor of Politics and International Studies, Queen's University Belfast / The Conversation   |   Mon, 11 Feb 2019 11:23:55

Brexit News Archive: 11 Feb 2019     |     enquire