Brexit News Archive: 05 Mar 2019

May woos Labour MPs with pledge on workers' rights

Hammond promises consultation on post-Brexit 'shared prosperity fund' to replace EU aid
FT   |   Tue, 5 Mar 2019 22:44:40

Theresa May's Guarantee To Protect Workers' Post-Brexit Rights Makes Her Deal Supportable

Jim Fitzpatrick / Huffington Post   |   Tue, 5 Mar 2019 22:39:51

Boost For May's Brexit Deal As Workers' Rights Plan Backed By Labour MP

Rachel Wearmouth / Huffington Post   |   Tue, 5 Mar 2019 22:31:59

Workers rights: MPs promised vote on changes after Brexit

Unions say a pledge to allow MPs to decide on adopting future EU changes is "flimsy window dressing".
BBC   |   Tue, 5 Mar 2019 22:30:07

UK may slash trade tariffs under a no-deal Brexit

Import taxes could be scrapped completely on some goods, but others still be protected, say reports.
BBC   |   Tue, 5 Mar 2019 21:55:54

Brexit 'likely to cause cancer test delays'

Radiologists warn doctors to prepare for possible drug delays as a result of a no-deal Brexit.
BBC   |   Tue, 5 Mar 2019 21:52:56

EU leaders lukewarm on Macron's plea for reform

French president launches push for further EU integration, citing Brexit as a 'symbol' of the 'danger' facing Europe.
Al Jazeera   |   Tue, 5 Mar 2019 21:48:21

Brexit: David Sterling warns of 'grave' no-deal consequences

NI's chief civil servant suggests there may have to be some hardening of the Irish border.
BBC   |   Tue, 5 Mar 2019 21:14:29

Ignorance-Inspired Brexit Imperial Nostalgia

By Jomo Kwame Sundaram and Anis Chowdhury Cross-posted at Inter Press Service. As the possible implications of Britain's self-imposed 'no-deal' exit from the European Union loom larger, a new round of imperial nostalgia has come alive. After turning its back on the Commonwealth since the Thatcherite 1980s, some British Conservative ...
Triplecrisis / TripleCrisis   |   Tue, 5 Mar 2019 20:13:17

Brexit Brinksmanship May Yield a Soft Result

A conclusion to the long-running drama over Brexit appears likely to be delayed yet again, perhaps until May or June. But by postponing the day of reckoning for Parliament to come up with an exit plan by the original March 29 deadline, Prime Minister Theresa May could finally get a ...
Jacob Funk Kirkegaard / Petersen Institute   |   Tue, 5 Mar 2019 20:03:36

The booze cruise is back as Brits splash the cash in Calais ahead of Brexit

Telegraph   |   Tue, 5 Mar 2019 19:29:37

Carmakers ramp up warnings over no-deal Brexit

BMW to consider moving Mini production as Toyota raises doubts over building new models
FT   |   Tue, 5 Mar 2019 19:12:30

Brexit won't bother the City - but everyone else should worry | Nils Pratley

The Bank's careful plans for no deal are in stark contrast to uncertainty facing carmakers, airlines and farmers Compare and contrast. At the Bank of England, preparations for a no-deal Brexit are proceeding swimmingly. The central bank and its EU counterpart have established a plentiful supply of euros that banks ...
Nils Pratley / Guardian   |   Tue, 5 Mar 2019 18:56:13

Scottish parliament, Welsh assembly join forces to oppose Brexit

Scotland's parliament and the Welsh national assembly voted on Tuesday to oppose the Brexit deal agreed by the UK government, the first time they have done so simultaneously in a sign of the United Kingdom's internal fracture over Brexit.
Reuters   |   Tue, 5 Mar 2019 18:34:31

GBP/USD recovers from weekly lows, trades above 1.3150

UK Services PMI comes in above expectations. Upbeat data from the U.S. helps DXY gain traction. BoE's Carney says he is expecting a material economic shock in case of a no-deal Brexit. The GBP/USD pair touched its lowest level in a week a couple of pips below the 1.31 mark ...
FX Street   |   Tue, 5 Mar 2019 18:23:56

BoE sets up banks buffer in case of chaotic Brexit

Weekly euro auctions are part of plan to ensure financial system functions smoothly
FT   |   Tue, 5 Mar 2019 18:23:04

Government plans to slash up to 90% of tariffs in no-deal Brexit

The Government will slash Britain's trade tariffs to more than at any point in history if the UK leaves the European Union without a deal, Sky News has learnt.
Sky   |   Tue, 5 Mar 2019 18:15:00

Amber Rudd has set fire to her party's own benefits record. It's a high risk strategy

She has already lost one job through taking the blame for someone else's failure. She won't be doing it again
Tom Peck / The Independent   |   Tue, 5 Mar 2019 17:25:53

May's top lawyer in Brussels in last-ditch Brexit bid

Prime Minister Theresa May's top government lawyer was holding talks in Brussels on Tuesday in a last-ditch bid to secure changes to get her Brexit deal through parliament and smooth Britain's departure from the European Union.
Reuters   |   Tue, 5 Mar 2019 17:17:23

British PM May's top lawyer in Brussels in last-ditch Brexit bid

Prime Minister Theresa May's top government lawyer was holding talks in Brussels on Tuesday in a last-ditch bid to secure changes to get her Brexit deal through parliament and smooth Britain's departure from the European Union.
Reuters   |   Tue, 5 Mar 2019 17:17:05

Brexit hero or zero? British PM May's top lawyer takes on Brussels

In his deep baritone, Geoffrey Cox, British Prime Minister Theresa May's top lawyer, relishes winning the argument.
Reuters   |   Tue, 5 Mar 2019 16:42:49

Emmanuel Macron, Brexiteers' best friend

French president attacks Leave campaign leaders but his EU vision makes life harder for Remainers
Andrew Gray / Politico   |   Tue, 5 Mar 2019 16:36:33

Why Jeremy Corbyn Ultimately Backed a New Brexit Vote

The Labour leader has long resisted calls within his party for a second referendum. An expert explains his decision to reverse course.
Sharmini Peries / / truthdig   |   Tue, 5 Mar 2019 16:07:19

Fed's Kashkari: Fed is watching Brexit and where the eurozone goes

Additional comments from Minneapolis Federal Reserve President Neel Kashkari continue to cross the wires with key quotes, via Reuters, found below. Fed is watching Brexit and where the eurozone goes, could have impact on U.S. economy. Modest US growth seen ahead, no recession on the horizon. Uncertainty surrounding China trade ...
FX Street   |   Tue, 5 Mar 2019 16:01:01

BoE's Carney: Expecting material economic shock if no-deal Brexit

While testifying before the House of Lords, Bank of England Governor Mark Carney explained that there has been progress in preparing for a disorderly Brexit but added that they would still experience a material economic shock if no-deal Brexit were to materialize.
FX Street   |   Tue, 5 Mar 2019 15:58:32

German Industry Boss: No Deal Better Than Brexit Extension

The boss of the BDI - Germany's equivalent of the CBI - has attacked a possible Brexit extension, saying that a no deal in March would be preferable to more uncertainty which simply led to no deal anyway several months down the line. Dieter Kemp asked the obvious question of ...
Hugh Bennett / Guy Fawkes' blog   |   Tue, 5 Mar 2019 15:55:35

Northern Ireland is warned of 'grave' impact of a no-deal Brexit

Letter from regional civil service head signals risks to jobs and food, and the threat of unrest
FT   |   Tue, 5 Mar 2019 15:33:30

Stubborn lack of clarity on Brexit leaves pound exposed

Sterling's move lower and away from $1.32 gathers pace as political tensions remain
FT   |   Tue, 5 Mar 2019 15:30:56

UK minister says Brexit talks with European Union yield 'positive' signals

Britain wants reassurances the mechanism will be temporary.
Associated Press / Financial Express   |   Tue, 5 Mar 2019 15:05:04

Macron's Cheek: Daring to Tell Brexit Nationalists They Are Wrong

AP Photo/Amr Nabil French President Emmanuel Macron speaks at the French Embassy in Cairo, Egypt. It is quite the most extraordinary interference seen in European politics since Winston Churchill repeatedly told continental European between 1945 and 1951 to unite and get their act together to create what he called a ...
Denis MacShane / American Prospect   |   Tue, 5 Mar 2019 14:44:28

IAG chief says lack of Brexit progress 'quite shocking'

FT   |   Tue, 5 Mar 2019 14:41:15

Booze cruise back in fashion as Britons stock up before Brexit

Majestic Wine's Calais sales soar as survey suggests one in 10 Britons are stockpiling food The booze cruise is back in fashion as shoppers stock up on cheap wine from across the Channel before the Brexit deadline on 29 March. Sales at Majestic Wine's Calais stores soared 49% last month ...
Sarah Butler / Guardian   |   Tue, 5 Mar 2019 14:26:57

Europeans are watchful but calm about Brexit

Attitudes towards the UK's impending departure differ quite a lot across continental Europe
FT   |   Tue, 5 Mar 2019 14:10:44

Brexit minister Barclay asks EU for help with citizens' rights: letter

Brexit minister Stephen Barclay has asked the European Union for its "formal views" on a proposal to preserve citizens' rights regardless of whether a Brexit deal is agreed, according a letter published by the government on Tuesday.
Reuters   |   Tue, 5 Mar 2019 14:00:03

Brexit secretary Barclay asks EU for help with citizens' rights - letter

Brexit secretary Stephen Barclay has asked the European Union for its "formal views" on a proposal to preserve citizens' rights regardless of whether a Brexit deal is agreed, according a letter published by the government on Tuesday.
Reuters   |   Tue, 5 Mar 2019 13:54:46

Morning Charts 03/05/2019 SPX

Q is on -15 days as the window for something to break regarding justice against the deep state. Let's hope they are not just blowing smoke.BREXIT closing in.On to the lie -Rollover continues under major resistance. It's about that simple. China keeps hope alive. Markets want to correct and normalize ...
Shanky / Shanky   |   Tue, 5 Mar 2019 13:34:00

USD/CHF rises to fresh session highs above parity as DXY approaches 97

US Dollar Index advances to two-week highs. SNB's Zurbruegg says Central Bank is ready for Brexit. 10-year US T-bond yield recovers large part of Monday's losses. The USD/CHF pair rose above the parity mark in the early European trading hours and moved sideways for a couple of hours before gaining ...
FX Street   |   Tue, 5 Mar 2019 13:27:12

Bank of England warns of Brexit finance risks for Europe

Europe's financial system faces "potential risks" to its stability arising from a no-deal Brexit, the Bank of England warned Tuesday, as it extended its weekly lending facilities to
AFP, London / Al Arabiya   |   Tue, 5 Mar 2019 13:15:11

May's top lawyer heads to Brussels in last-ditch Brexit bid

Prime Minister Theresa May's top government lawyer heads to Brussels on Tuesday in a last-ditch bid to secure changes to get her Brexit deal through parliament and smooth Britain's departure from the European Union.
Reuters   |   Tue, 5 Mar 2019 13:15:00

French customs agents disrupt Calais port ahead of Brexit

Traffic jams build up around the French port as customs officers carry out tighter lorry checks.
BBC   |   Tue, 5 Mar 2019 13:12:58

UK seeks citizens' rights protection under no-deal Brexit

Britain is asking the EU for an agreement that would protect both sides' citizens' rights in the event of a no-deal Brexit.
Sky   |   Tue, 5 Mar 2019 13:02:00

Toyota and BMW warn no-deal Brexit could hit UK investment

Both firms say production of their cars in the UK is at risk if Britain leaves the EU without a deal.
BBC   |   Tue, 5 Mar 2019 12:58:41

UK: Labour's McDonnell says Labour will vote against no-deal Brexit

British Labour Party politician John McDonnell recently crossed the wires announced that the Labour Party will vote against the no-deal Brexit. McDonnell further added that the party is planning to back the amendment on the Brexit referendum and that there weren't many Labour MPs who would support PM May's Brexit ...
FX Street   |   Tue, 5 Mar 2019 12:58:23

Labour to order MPs to vote for amendment calling for second Brexit referendum, McDonnell announces

Labour will order its MPs to vote for a backbench motion that would trigger a fresh Brexit referendum, John McDonnell has said.
Benjamin Kentish / The Independent   |   Tue, 5 Mar 2019 12:55:00

UK: Government said not to expect breakthrough at Cox-Barnier meeting

The British pound is now suffering heavy losses against its major rivals following reports of the British government not expecting a breakthrough at today's meeting between Attorney General Fox and the EU's Chief Brexit Negotiator Michel Barnier. Furthermore, news outlets are claiming that the UK government does not plan to ...
FX Street   |   Tue, 5 Mar 2019 12:46:12

Britain's top lawyer to have 'detailed discussions' in Brussels - May's spokesman

British Attorney General Geoffrey Cox is expected to have "detailed discussions" with European Union negotiators in Brussels on Tuesday, Prime Minister Theresa May's spokesman said, adding that there was still work to do on Brexit.
Reuters   |   Tue, 5 Mar 2019 12:40:49

BMW may stop making Mini at Cowley if there is no-deal Brexit

Carmaker joined by Toyota in warning over threat to jobs if UK leaves EU without deal BMW has said it might be forced to stop making the Mini at its Cowley plant near Oxford in the event of a no-deal Brexit, putting more than 100 years of carmaking history at ...
Jasper Jolly in Geneva and Rob Davies / Guardian   |   Tue, 5 Mar 2019 12:40:10

Brexit Irritant Pete North Forced to Pay A C Grayling £20,000

Notorious curmudgeon and misanthrope Pete North has been forced to pay nutty Remainer Professor A C Grayling at least £20,000 for for falsely accusing the academic of hoarding child pornography. Last year North tweeted "I'd bet good money that AC Grayling has a hard drive full of underage botty sex ...
Tom Harwood / Guy Fawkes' blog   |   Tue, 5 Mar 2019 12:34:12

UK PM May spokesman: Attorney General Cox to have detailed discussions in Brussels on backstop changes

British Prime Minister Theresa May's spokesman recently told reporters that Attorney General Cox will have detailed discussions in Brussels on Irish border backstop changes. "Whilst there remains a lot to do on Brexit, we are working at pace," the spokesman added. The GBP/USD pair, which gained traction on the back ...
FX Street   |   Tue, 5 Mar 2019 12:34:06

BMW may shift Mini and engine work from UK in no-deal Brexit

BMW has stepped up its warnings surrounding a no-deal Brexit, telling Sky News production of the Mini in Oxford may be at risk.
Sky   |   Tue, 5 Mar 2019 11:55:00

EU banks 'could face panicky trading after no-deal Brexit'

Bank of England says rules needed otherwise markets may raise lending costs risking 'spill back' effects on UK The Bank of England has warned that the failure of European Union regulators to put in place measures to protect continental banks has increased the risk of panicky trading on financial markets ...
Phillip Inman / Guardian   |   Tue, 5 Mar 2019 11:52:00

GBP/USD slides back closer to session lows, focus shifts to Carney's testimony

• Quickly surrenders upbeat UK services PMI led uptick to 1.3200 neighbourhood. • Investors looked past the latest Brexit optimism and continue unwinding GBP longs. • A modest USD uptick adds to the bearish pressure ahead of Carney's testimony. The GBP/USD pair faded an early European session uptick and quickly ...
FX Street   |   Tue, 5 Mar 2019 11:38:21

Is a 21-month Article 50 extension really in the interests of Brexiteers?

A recent article on Conservative Home argues it would be far better for Brexiteers to accept a 21-month extension of Article 50 than vote for the Withdrawal Agreement. Open Europe's Dominic Walsh argues such a strategy would be a significant risk. The post Is a 21-month Article 50 extension really ...
Dominic Walsh / Open Europe   |   Tue, 5 Mar 2019 11:37:19

Toyota Europe boss in stark no-deal Brexit warning

Toyota Europe boss says a no-deal Brexit would make it hard for it to build cars at Burnaston.
BBC   |   Tue, 5 Mar 2019 11:11:50

UK economy close to stalling amid Brexit uncertainty

Employment levels falling at fastest pace in almost nine years, survey finds The UK economy came close to flatlining last month as Brexit uncertainty intensified and the global economy weakened, with employment levels falling at the fastest pace in almost nine years. According to the latest snapshot of Britain's services ...
Richard Partington Economics correspondent / Guardian   |   Tue, 5 Mar 2019 11:09:34

Brexit News Archive: 05 Mar 2019     |     enquire