Brexit News Archive: 07 Mar 2019

UK PM May to EU: Agree to backstop changes or risk disorderly Brexit - Reuters

While the EU-UK leaders are struggling to agree over Irish backstop during the final month of the Brexit, Reuters came out with the pre-released extracts of the British Prime Minister Theresa May's speech at northern England. The report said, "Just as MPs will face a big choice next week, the ...
FX Street   |   Thu, 7 Mar 2019 23:03:39

Brexit: Theresa May makes last ditch plea for EU to give ground in talks ahead of critical vote

PM will give a speech saying the actions of the EU will have a material impact on the outcome of a critical vote on Tuesday
Joe Watts / The Independent   |   Thu, 7 Mar 2019 22:43:35

Brexit: May urges EU to agree backstop changes

The prime minister will implore the EU to help her get her Brexit deal through the Commons, days before MPs vote.
BBC   |   Thu, 7 Mar 2019 22:34:00

May to EU: Agree to backstop changes or risk disorderly Brexit

Prime Minister Theresa May put the onus on the European Union to make concessions over the thorny issue of the Irish backstop in Brexit talks, or risk Britain leaving the EU without a deal, which she said would be against EU interests.
Reuters   |   Thu, 7 Mar 2019 22:32:43

Labour will not support new Brexit referendum in all circumstances - The Independent

The Labour Party will not support a new referendum on Brexit in all circumstances, The Independent reported on Thursday, citing sources close to the party leadership.
Reuters   |   Thu, 7 Mar 2019 22:05:02

PM: EU 'has to make a choice' in next few days

Theresa May will tell the EU it "has to make a choice" on Brexit as she continues a last-ditch effort to win concessions over her withdrawal agreement.
Sky   |   Thu, 7 Mar 2019 21:41:00

Labour warned against 'betraying' members as party admits it may not back fresh Brexit referendum

Exclusive: Party says it will only back Final Say vote on Theresa May's deal and could support softer Brexit without public being given a say
Benjamin Kentish / The Independent   |   Thu, 7 Mar 2019 20:37:10

GBP/USD bears taking on 50% fibo with eyes on 61.8% Fibo below 1.30 handle

GBP/USD has dropped to fresh lows as the dollar adds to its advance towards the 61.8% Fibo just below the 98 handle in the DXY. GBP/USD is currently trading at 1.3078, up from a low of 1.3967 and off its 1.3187 highs. Brexit headlines are offering shirt term scalping opportunities ...
FX Street   |   Thu, 7 Mar 2019 20:21:00

Brexit votes: When are the key debates, what will be decided and where can I watch them?

Three possible ballots in three days will decide Britain's immediate future
Joe Sommerlad / The Independent   |   Thu, 7 Mar 2019 20:09:25

May's authority on the line as Brexit vote defeat looms

PM pins hope on last-minute EU concessions to push deal through Commons
FT   |   Thu, 7 Mar 2019 19:52:36

Aviva's new boss aims to boost pace as Brexit hits growth

Insurer can go faster if Maurice Tulloch focuses on certain areas
FT   |   Thu, 7 Mar 2019 19:40:20

Guy Verhofstadt: Add-on to Brexit deal cannot 'question' original text

MPs in Westminster are due to vote again on PM May's Brexit deal on Tuesday.
Maïa de La Baume / Politico   |   Thu, 7 Mar 2019 19:35:03

Female EU citizens in UK fear post-Brexit discrimination as system is confused by maiden names

International Women's Day warning of threat to future jobs, housing and NHS treatment from settlement scheme that is a 'trap'
Rob Merrick / The Independent   |   Thu, 7 Mar 2019 18:56:59

GBP/USD: Solace for bulls on Brexit headline; Spike likely short lived (Pressured below 1.3170/90)

GBP/USD has rallied, knocking the DXY down a peg as the third largest component of the index. Brexit headlines are dominating, as per usual; The latest being 'EU falling short of UK demands but said to make a new offer' with respect to the ongoing backstop negotiations into the eleventh ...
FX Street   |   Thu, 7 Mar 2019 18:17:44

Germany is prepared for all Brexit scenarios - Finance Minister Scholz

Germany and its customs authority are prepared for all Brexit scenarios, including Britain crashing out of the European Union without a divorce deal setting out future relations, Finance Minister Olaf Scholz said on Thursday.
Reuters   |   Thu, 7 Mar 2019 17:26:25

May should 'of course' deny another Scottish independence vote - Hunt

Britain's government should "of course" deny a request for a new referendum on Scottish independence if one is made, foreign minister Jeremy Hunt said on Thursday, wading into a row about secession fuelled by Brexit.
Reuters   |   Thu, 7 Mar 2019 17:16:50

Toyota may pull out of UK if no Brexit deal

Taipei Times   |   Thu, 7 Mar 2019 17:06:33

GBP/USD - British pound slips on PMI, Brexit worries

GBP/USD has posted considerable losses in the Thursday session, showing significant movement for the first time this week. In North American trade, the pair is trading at 1.3102, down 0.52% on the day. There is only one key event on the calendar. U.S. employment claims dipped to 223 thousand, below ...
Kenny Fisher / OANDA   |   Thu, 7 Mar 2019 16:34:49

London Regains Title as World's 'Top Wealth Centre'

Knight Frank's 2019 City Wealth Index has listed London as the city with the most ultra high net worth individuals, overtaking New York to claim the global number one spot. The new report states that despite Brexit, London has "regained its position as the leading global city." In the last ...
Tom Harwood / Guy Fawkes' blog   |   Thu, 7 Mar 2019 16:07:41

Britain invokes 'man on the Clapham omnibus' in Brexit talks

Attorney-general Geoffrey Cox turns to Victorian-era measure of 'reasonableness'
FT   |   Thu, 7 Mar 2019 15:54:16

Government hits back at EU claims it has no fresh plan, saying proposals for Irish border 'clear as day'

Follow live updates from Westminster
Benjamin Kentish / The Independent   |   Thu, 7 Mar 2019 15:34:00

Brexit department's top civil servant to retire just as UK is set to leave EU

His departure sparked claims the "chaotic" Brexit department was struggling to cope
Lizzy Buchan / The Independent   |   Thu, 7 Mar 2019 15:17:00

GBP/USD dips below 1.3100, 10-day low, on Brexit impasse, ECB

GBP/USD hit a new low below 1.3100, the lowest since February 25th. The Brexit impasse and the ECB's impact weigh. The technical picture is bearish for the pair. GBP/USD dipped below the previous weekly low at the round number of 1.3100 and hit a new session low of 1.3088, the ...
FX Street   |   Thu, 7 Mar 2019 15:08:00

Brexit row hits Scottish Labour ahead of conference

Leader Richard Leonard accused by predecessor of censoring second referendum supporters
FT   |   Thu, 7 Mar 2019 15:02:06

Business Breakfast with OANDA on Jazz FM

On this morning's Business Breakfast, OANDA Senior Market Analyst Jeffrey Halley joins Jazz FM's Nick Howard to discuss Brexit, US tariffs against Europe and the ECB rate announcement. Click on the link below to listen.
Alfonso Esparza / OANDA   |   Thu, 7 Mar 2019 14:53:00

How five smaller UK firms are preparing for a no-deal Brexit

British SMEs are trying to plan for an uncertain future as the risk of crashing out of the EU nears Big companies - from Jaguar Land Rover and Airbus to GlaxoSmithKline - have dominated the headlines with their warnings and preparations for Brexit, but the possibility of the UK crashing ...
Julia Kollewe and Jasper Jolly / Guardian   |   Thu, 7 Mar 2019 14:29:01

EUR/GBP refreshes session lows after ECB downgrades growth and inflation forecasts

• Dovish ECB shifts prompted some aggressive selling around the shared currency. • A downward revision of the ECB's growth/inflation projections adds to the selling bias. • Brexit uncertainties continue to weigh on the British Pound and helped limit losses. The EUR/GBP cross extended its post-EC retracement slide from an ...
FX Street   |   Thu, 7 Mar 2019 14:09:43

EU awaits reworked UK Brexit proposals, deal remains elusive

The European Union told Britain to rework its Irish backstop proposal by Friday but feared it would struggle to secure a deal that satisfied pro-Brexit lawmakers before a key vote in the UK parliament on Wednesday.
Reuters   |   Thu, 7 Mar 2019 14:07:01

It's Three Weeks Till Brexit And The International Trade Secretary Just Forgot The Name Of The World Trade Organization

Jasmin Gray / Huffington Post   |   Thu, 7 Mar 2019 14:05:13

Draghi speech: Several members presented option to change calendar forward guidance to March 2020

Mario Draghi, President of the ECB, is responding to questions from the press with key quotes found below. ECB actions can't stop impact of protectionism, Brexit. ECB actions will improve resilience of economy. Don't want to speculate on use of APP. Very open to act when needed. Several Governing Council ...
FX Street   |   Thu, 7 Mar 2019 14:04:15

Brexit: Where the 'Tory Press' Stands Now

This morning The Spectator became the latest Brexit-backing publication to endorse May's deal on the condition of a limited Cox concession. The full list of Brexit backing publications who are now supporting May's deal: The Express warned on the day of the first meaningful vote back in January that "pulling ...
Tom Harwood / Guy Fawkes' blog   |   Thu, 7 Mar 2019 14:04:05

What next for Brexit: Britain plays the ultimate game of 'Deal or No Deal'

Brexit with a deal. Brexit without a deal. No Brexit. Those are the only possible destinations on the United Kingdom's torturous journey toward determining its future relationship with the European Union. An extension, election, or second referendum would simply be a detour on the road toward one of those endpoints. ...
Amanda Sloat / Brookings   |   Thu, 7 Mar 2019 14:00:53

Brexit: Deadline looms as ministers push for changes to deal

EU officials call for the UK to suggest an plan to resolve the Irish backstop impasse.
BBC   |   Thu, 7 Mar 2019 14:00:00

Americans need to care about Brexit: What to know

The United Kingdom leaving the European Union - known as Brexit - has companies like Ford and Kellogg, and U.S. consumers, preparing for impact.
Susan Tompor, Detroit Free Press / Detroit Free Press   |   Thu, 7 Mar 2019 13:25:11

UK-EU Brexit talks set to run into the weekend as officials look to break deadlock

Talks between British and EU officials to break the Brexit deadlock will “almost certainly” last into the weekend, Britain’s attorney general said on Thursday, ahead of a crucial parliamentary vote in London next week.With just three weeks to go until the scheduled departure date of March 29, concern is growing ...
Agence France-Presse / South China Morning Post   |   Thu, 7 Mar 2019 13:18:22

The End of Ambiguity

BELFAST, Northern Ireland-If Monty Python ever produced an updated, "What has the EU ever done for us?" sketch, Belfast would be as good a place as any to situate it. If any place in the British Isles risks being thrust into an economic and political crisis by impending Brexit, Belfast ...
David Frum / The Atlantic   |   Thu, 7 Mar 2019 13:07:09

Brexit, etc: European growth hit by political uncertainty

A slowdown showdown: Brexit and trade tensions leave European economic growth grinding to a near-halt. The Organisation for Economic Co-operation and Development says a disorderly or no-deal Brexit would substantially raise costs for European economies. For more, Stephen Carroll speaks to the OECD's chief economist Laurence Boone.
Stephen CARROLL / France 24   |   Thu, 7 Mar 2019 12:41:03

Britain still hopeful of weekend Brexit breakthrough, says Hunt

Britain's government is still hopeful it can secure a Brexit breakthrough with the European Union this weekend ahead of a key parliamentary vote on Prime Minister Theresa May's deal next week, foreign minister Jeremy Hunt said on Thursday.
Reuters   |   Thu, 7 Mar 2019 12:39:14

EU to Britain: come back Friday with reworked backstop - diplomats

EU Brexit negotiators have rejected Britain's latest proposals on the so-called Irish backstop and told the UK's top lawyer to come back on Friday with a reworked version, according to EU diplomats.
Reuters   |   Thu, 7 Mar 2019 12:28:54

UK house prices make surprise 5.9% rise in February, Halifax says

Experts question reliability of figures that show biggest monthly increase since 1983 UK house prices have defied the Brexit gloom by racking up their biggest monthly increase since records began in 1983, adding more than £13,000 to the value of a typical home in only 28 days, according to the ...
Rupert Jones / Guardian   |   Thu, 7 Mar 2019 12:19:49

UK parliament will vote on May's Brexit deal on March 12 - Commons leader

British lawmakers will vote on whether to approve Prime Minister Theresa May's revised Brexit deal on March 12, the leader of the House of Commons Andrea Leadsom said on Thursday.
Reuters   |   Thu, 7 Mar 2019 12:10:41

UK government official: No changes expected in Brexit talks with EU in next 48 hours

"At the moment there is nothing to suggest that anything is going to change in talks with the EU in the next 48 hours," a British government source told Reuters. Although it's difficult to pinpoint the market's reaction to this headline, it's clear that the British pound is staying under ...
FX Street   |   Thu, 7 Mar 2019 11:58:42

Nothing suggests Brexit impasse will change in next 48 hours - UK source

Nothing at the moment suggests anything will change in Britain's Brexit talks with the European Union over the next 48 hours, a government source said on Thursday, adding that the EU was simply not moving.
Reuters   |   Thu, 7 Mar 2019 11:54:20

UK's Leadsom: Meaningful vote on Brexit deal on Tuesday

According to the latest headlines floating on the wires, House of Commons leader - Andrea Leadsom confirms that the UK parliament will vote on the Brexit deal on Tuesday - March 12. Will make business statement on the day if the Brexit vote does not pass, Leadsom added further.
FX Street   |   Thu, 7 Mar 2019 11:51:50

Britain, EU must keep working together for orderly Brexit - May's spokesman

Britain and the European Union must keep working together to secure the orderly Brexit the bloc says it wants, a spokesman for Prime Minister Theresa May said on Thursday.
Reuters   |   Thu, 7 Mar 2019 11:51:44

GBP/USD hits fresh session lows, slides further below mid-1.3100s

• Reemerging Brexit uncertainties continue to weigh on GBP. • A subdued USD price action also fails to extend any support. The GBP/USD pair extended its steady intraday decline and dropped to a fresh session low, below mid-1.3100s during the mid-European session. The pair failed to capitalize on the overnight ...
FX Street   |   Thu, 7 Mar 2019 11:40:12

EU Brexit team told UK's Cox to rework backstop plan, return on Friday - diplomats

European Union Brexit negotiators rejected the latest proposals on the Brexit presented by Britain's Attorney General Geoffrey Cox in Brussels on Tuesday and told him to rework them and come back on Friday, EU diplomats said.
Reuters   |   Thu, 7 Mar 2019 11:34:33

UK PM May spokesman: No plan for a 3rd vote on the deal, if rejected on Tuesday

The UK PM Theresa May's spokesman crossed the wires in the last hour, saying that the EU wants orderly Brexit and we need to keep working together if we are to achieve that. Additional quotes: • If PM May's deal is voted down, votes on no-deal and delay will take ...
FX Street   |   Thu, 7 Mar 2019 11:32:13

Millions of Brits warned to renew passports by Friday

UK consumer group Which? has warned that millions of Britons could see holiday plans disrupted if they don't renew their passport by Friday.
CNN   |   Thu, 7 Mar 2019 11:28:13

No-deal Brexit: Theresa May urged to safeguard emergency food supplies by poverty charities

Leaders of 15 charitable organisations have written to the prime minister calling for a 'hardship fund'
Shehab Khan / The Independent   |   Thu, 7 Mar 2019 11:20:00

EU sceptical Brexit deal can be sealed before March 21-22 summit - Reuters

Citing EU sources familiar with the matter, Reuters reported that the EU was sceptical about the Brexit deal getting finalised before the March 21-22 summit. "The bloc is trying to prevent direct negotiations between 27 leaders and British Prime Minister Theresa May," sources said and added that Attorney General Cox's ...
FX Street   |   Thu, 7 Mar 2019 11:19:29

Brexit is not a retreat into isolationism - survey suggests public remains committed to global security role

Britain's vote to leave the European Union has been taken by some as a signal that the British public want to retreat from having a global role. But a survey of their views on NATO and shared European defence suggests otherwise. Defence poses both an opportunity and a challenge for ...
Timothy B. Gravelle, Senior Research Fellow, The University of Queensland / The Conversation   |   Thu, 7 Mar 2019 11:18:44