Brexit News Archive: 04 Mar 2019

Dollar Mixed Awaiting More Details on US-China Trade

The US dollar is mixed on Monday after reports over the weekend pointed to the US and China being close to a trade agreement. The NZD and AUD rose along with the JPY, but uncertainty over Brexit took its toll on the EUR and GBP against the greenback. The week ...
Alfonso Esparza / OANDA   |   Mon, 4 Mar 2019 21:42:54

UK construction takes Brexit hit; Wall Street closes lower - as it happened

British builders report that Brexit anxiety is creating delays in new projects, and making it harder to get materials Latest: New York stock market in the red Latest: UK construction PMI hits 11-month low Stockpiling creates shortfall of building materials Introduction: US and China 'close in' on trade deal 8.44pm ...
Graeme Wearden / Guardian   |   Mon, 4 Mar 2019 21:11:07

For Europe, hell is two more years of Brexit

No European leader wants the blame for rushing into the abyss of a no-deal Brexit, which would damage the continent too.
Bloomberg / Financial Express   |   Mon, 4 Mar 2019 20:44:57

Chris Grayling Absent From Grilling Over Botched Brexit Ferry Deal, As MPs Ask: 'Where Is He?'

Graeme Demianyk / Huffington Post   |   Mon, 4 Mar 2019 20:17:26

Brexit Is Hell

Over time, public conceptions of hell have migrated from the realm of religious belief to that of literature and political aphorism. And nowhere is the idea of eternal damnation as punishment for one's own choices more appropriate than in the case of the United Kingdom as it hurdles toward the ...
Harold James / Project Syndicate   |   Mon, 4 Mar 2019 20:03:39

Chris Grayling under fire from MPs for Brexit ferry absence

Labour says transport secretary is an as fellow minister answers questions on Brexit payout.
BBC   |   Mon, 4 Mar 2019 19:20:39

Brexit: Tory MPs should risk long delay rather than back May's 'poisonous' deal, expert advises

Verdict from QC advising hardline Conservatives on Irish backstop would sink prime minister's deal in next week's 'meaningful vote' - if followed
Rob Merrick / The Independent   |   Mon, 4 Mar 2019 19:14:00

Brexit news - live: Government postpones key no-deal bill vote to avoid humiliating tax havens defeat

Follow all the latest updates from Westminster
Ashley Cowburn, Lizzy Buchan / The Independent   |   Mon, 4 Mar 2019 17:45:00

GBP/USD: Bears back in play, Hourly Ichimoku Cloud is bearish, Brexit and dollar politics in focus

GBP/USD is making a move to the downside, losing its title as the top performer at the start of the week as the dollar firms to test the H&S neckline despite Trump's complaints that it is too strong. On a techncial basis, the pair triggered a sell-opportunity on the hourly ...
FX Street   |   Mon, 4 Mar 2019 17:26:31

Brexiters are refusing to accept their victory

Hardliners now pose the biggest threat to the UK leaving the EU
FT   |   Mon, 4 Mar 2019 16:46:46

Chances of a hard Brexit remain uncomfortably high - Rabobank

"Political dynamics seem to be changing on the back of defections from both large parties as the popularity of this Independent Group seems to come at the cost of support for Labour," Rabobank analysts say on the latest political developments in the UK ahead of the March 29 Brexit deadline. ...
FX Street   |   Mon, 4 Mar 2019 16:42:55

Fundraising drought suggests nerves over Brexit

New UK bond deals drop 40% from last year while equity deals shrivel to zero
FT   |   Mon, 4 Mar 2019 16:38:52

Labour MPs scorn May's towns plan as blatant Brexit ploy

Critics say funds too small to make difference as PM hunts for support in meaningful vote
FT   |   Mon, 4 Mar 2019 16:29:36

Brexit Is Now a High-Stakes Game of Chicken

LONDON-The United Kingdom is scheduled to exit the European Union on March 29. The clock is ticking to reach an agreement on a transition. Without a transition agreement, the UK will abruptly overnight be ejected from the European Union Customs Union and single market-a shock that could send not only ...
David Frum / The Atlantic   |   Mon, 4 Mar 2019 16:29:22

Brexit news: May hints at weakening of stance on Irish backstop - jeopardising Tory support for her deal

No 10 refuses to say UK still fighting for 'time limit', threatening prime minister's ability to win second 'meaningful vote' in just 8 days' time
Rob Merrick / The Independent   |   Mon, 4 Mar 2019 16:06:08

If the 'Stronger Towns Fund' is an attempt at pork barrel politics, it's barely a packet of Frazzles

It is not, strictly speaking, a bribe, in the sense that there is nothing stopping Labour MPs from accepting the cash and not voting through her deal
Tom Peck / The Independent   |   Mon, 4 Mar 2019 16:03:30

'Wooferendum' To Take Over Westminster For Giant Brexit Dog's Dinner

Lauren Gosling-Powell / Huffington Post   |   Mon, 4 Mar 2019 15:53:15

Irish PM says willing to help UK get Brexit deal approved

Ireland is willing to offer further assurances to the United Kingdom to help it secure parliamentary approval for Brexit withdrawal agreement, but it will not compromise on its position on the Irish border, Prime Minister Leo Varadkar said on Monday.
Reuters   |   Mon, 4 Mar 2019 15:14:33

UK government doesn't understand how EU works, says its former ambassador to Brussels Ivan Rogers

EU 'never works' as UK expects when it comes to negotiations, says former permanent representative
Jon Stone / The Independent   |   Mon, 4 Mar 2019 15:09:00

Insurers prepare to issue emergency motor papers

Industry body to open offices at ports for green cards in event of no-deal Brexit
FT   |   Mon, 4 Mar 2019 14:38:15

Brexit Britain will be 'lost in space'

One of the UK's most successful space entrepreneurs says Brexit will do immense harm to industry.
BBC   |   Mon, 4 Mar 2019 14:36:44

UK PM Theresa May Promises £1.6B 'Bribe' For Brexit-Supporting Communities

With barely a week to go before the crucial vote of British lawmakers to decide the U.K's Brexit from the European bloc, Prime Minister Theresa May has come under fire for the 1.6 billion pound ($2.1billion) fund that promises economic boost for pro-Brexit communities. The "Stronger Towns Fund" program has ...
IBTimes   |   Mon, 4 Mar 2019 14:30:25

Theresa May's lawyer seeks legal fix to the Brexit riddle

Prime Minister Theresa May's top lawyer will try to clinch a Brexit compromise with the European Union this week in a last-ditch bid to win over rebellious British lawmakers before crunch votes that could delay the divorce.
Reuters   |   Mon, 4 Mar 2019 14:09:52

Think Tank Demands Unicorn Policy

Remainers accuse Brexiteers of chasing mythical unicorns with unattainable policies. Now a right-of-centre think-tank is actually advocating "Herding Unicorns". The Centre for Policy Studies wants to boost the tech sector of the economy to help ensure Britain (already the tech unicorn capital of Europe) produces even more tech unicorns - ...
order-order / Guy Fawkes' blog   |   Mon, 4 Mar 2019 14:07:18

May's Brexit 'bribes' will not be enough

PM announces £1.6bn fund to help struggling communities across England
FT   |   Mon, 4 Mar 2019 13:50:00

Japanese Ambassador to UK: Japanese companies may relocate away from UK because of Brexit uncertainty

In an interview with Sky News, Japanese ambassador to the UK said that more Japanese companies may relocate away from the UK because of Brexit uncertainty. There was no noteworthy market reaction to these remarks and the GBP/USD pair was last seen clinging to small recovery gains near 1.3220.
FX Street   |   Mon, 4 Mar 2019 13:38:05

UK Attorney General: Detailed Brexit negotiations cannot be conducted in public

British Attorney General Geoffrey Cox recently crossed the wires saying that Brexit is 'complex' and added that detailed negotiations could not be conducted in public. Earlier in the day, a spokesman for the European Commission announced that British Brexit Secretary Stephen Barclay and Attorney General Cox will be travelling to ...
FX Street   |   Mon, 4 Mar 2019 13:21:47

Vote On Brexit Bill Scrapped By Ministers In 'Woeful' Move To Dodge Another Commons Defeat

Ned Simons / Huffington Post   |   Mon, 4 Mar 2019 13:09:40

Chris Grayling: Government sends health secretary to answer Brexit ferry questions instead of transport chief

Mr Grayling signed the contracts - which led to £3m payment to Eurotunnel - but Matt Hancock will face MPs
Rob Merrick / The Independent   |   Mon, 4 Mar 2019 12:41:00

EUR/GBP trims losses and approaches 0.8600

The cross bounces off lows in the mid-0.8500s, back near 0.8600. The softer tone in the Sterling keeps supporting the daily rebound. Parliament vote on Brexit deal this week is 'negligible'. The now softer tone in the Sterling is helping EUR/GBP to rebound from daily lows in the mid-0.8500s and ...
FX Street   |   Mon, 4 Mar 2019 12:22:59

Lobster mail order should be banned after Brexit, campaigners demand as they tell Amazon to stop putting animals in the post

Helena Horton / Telegraph   |   Mon, 4 Mar 2019 12:17:10

PM Theresa May's lawyer seeks legal fix to the Brexit riddle

Prime Minister Theresa May's top lawyer will try to clinch a Brexit compromise with the European Union this week in a last ditch bid to win over rebellious British members of parliament before crunch votes that could delay the divorce for three months.
Reuters   |   Mon, 4 Mar 2019 12:11:50

British PM Theresa May's lawyer seeks legal fix to the Brexit riddle

Prime Minister Theresa May's top lawyer will try to clinch a Brexit compromise with the European Union this week in a last ditch bid to win over rebellious British lawmakers before crunch votes that could delay the divorce for three months.
Reuters   |   Mon, 4 Mar 2019 11:59:15

UK: Weakness in construction PMI data - TDS

Analysts at TD Securities note that the UK's Construction PMI fell below 50 to 49.5 in February to its lowest level since the storm-affected March 2018 print. Key Quotes "While activity in the residential sector rose modestly, declines in commercial and civil engineering projects were notable on account of Brexit ...
FX Street   |   Mon, 4 Mar 2019 11:58:38

Theresa May’s UK regional funding slammed as ‘desperate bribe’ for Brexit votes

British Prime Minister Theresa May unveiled £1.6 billion (US$2.12 billion) in regional development funds on Monday in what opposition MPs dismissed as a “desperate bribe” to persuade them to back her Brexit deal.The money for new jobs and training is mostly directed at northern English areas which backed leaving the ...
Agence France-Presse / South China Morning Post   |   Mon, 4 Mar 2019 11:55:14

UK still pursuing binding changes to Brexit deal, progress being made: spokesman

Britain is still seeking legally-binding changes to the Brexit deal it has negotiated with the European Union, Prime Minister Theresa May's spokesman said on Monday, adding that talks were at a critical stage.
Reuters   |   Mon, 4 Mar 2019 11:52:43

Stronger Towns Fund: £1.6bn post-Brexit cash announced

Prosperity has been unfairly spread, says the PM, as Labour accuses her of trying to bribe its MPs.
BBC   |   Mon, 4 Mar 2019 11:51:58

Schemes with 'Brexit Day' valuations must review options, warns Aon

Sponsors and trustees of defined benefit (DB) schemes with 31 March valuation dates need to discuss their options given the clash with Brexit, according to Aon.
Kim Kaveh / Professional Pensions   |   Mon, 4 Mar 2019 11:47:00

UK PM May's spokesman: We are at critical stage in negotiations

British Prime Minister Theresa May's spokesman recently crossed the wires saying that they were at a critical stage in Brexit negotiations with the UK. "We definitely have been making progress with the EU but more work needs to be done," added the spokesman. Key quotes (via Reuters) PM has always ...
FX Street   |   Mon, 4 Mar 2019 11:42:57

'Obscene and derisory': May loses key MPs' support over towns fund

Theresa May's offer of a cash boost for pro-Brexit towns has been dismissed as a "failure" and
Sky   |   Mon, 4 Mar 2019 11:41:00

UK construction activity falls amid Brexit uncertainty

Drop in building work for first time in almost a year as new projects are delayed The UK's construction industry slumped into contraction last month for the first time since freezing weather and snow brought cranes to a halt a year ago, as Brexit uncertainty delayed new building projects. After ...
Richard Partington / Guardian   |   Mon, 4 Mar 2019 11:29:20

EC spokesman: Brexit Sec. Barclay to travel to Brussels on Tuesday for talks with EU's Barnier

According to a spokesman for the European Commission, British Brexit Secretary Barclay and Attorney General Cox will be travelling to Brussels on Tuesday for talks with the European Union's Chief Brexit negotiator Michel Barnier. Reporting on the matter, several news outlets claimed that the spokesman didn't disagree with the assessment ...
FX Street   |   Mon, 4 Mar 2019 11:28:43

Britain's Barclay, Cox to hold Brexit talks in Brussels on Tuesday - spokesman

Britain's Brexit Secretary Stephen Barclay and Attorney General Geoffrey Cox will travel to Brussels for talks with the European Union's Brexit negotiator Michel Barnier on Tuesday afternoon, a spokesman for the bloc said.
Reuters   |   Mon, 4 Mar 2019 11:24:18