Brexit News Archive: 16 Jul 2019

US Economy 2019: Fed Chair Cites 'Uncertainties' Like Brexit And Debt Ceiling For Possible Interest Rate Cut

While speaking at Paris economic conference Tuesday, Federal Reserve Chairman Jerome Powell reiterated that the Fed would "act as appropriate" due to in the global economy, citing Brexit and the upcoming U.S. debt limit issue as points of concern.
IBTimes   |   Tue, 16 Jul 2019 21:02:42

Brexit's Doctor Doom came to the House of Commons with a simple message: we're all doomed

The man who told Theresa May the truth about Brexit but wasn't listened to, came to the House of Commons to carry on telling the truth about Brexit, and to carry on not being listened to
Tom Peck / The Independent   |   Tue, 16 Jul 2019 20:38:00

Boris Johnson rejects EU compromise and pushes Britain towards the no-deal Brexit cliff edge

The likely next prime minister said he would not accept a time-limit or exit mechanism on the contentious backstop for Northern Ireland.
sellputs / Hedge Accordingly   |   Tue, 16 Jul 2019 19:51:46

Hardened Brexit position will 'collide with reality,' says UK minister

The Cabinet minister predicted that the new Tory leader will have a 'window' to resolve Brexit.
Annabelle Dickson / Politico   |   Tue, 16 Jul 2019 19:01:00

May was warned key parts of Brexit strategy were 'not compatible'

Theresa May was warned just months after entering Downing Street that the central tenets of her Brexit strategy were "not really compatible with each other", the UK's former ambassador to the EU has revealed.
Sky   |   Tue, 16 Jul 2019 18:55:00

Johnson, Hunt raise Brexit stakes with Irish border views

The two contenders to become Britain's next prime minister raised the Brexit stakes by saying they will discard a contentious part of the European Union divorce deal agreed by outgoing leader Theresa May. The pound fell to a 27-month low of $1.2408 Tuesday after Boris Johnson and Jeremy Hunt appeared ...
sellputs / Hedge Accordingly   |   Tue, 16 Jul 2019 18:54:33

Ursula von der Leyen elected as next EU commission president replacing Jean-Claude Juncker

Former German defence minister is first woman to hold Brussels' top job
Jon Stone / The Independent   |   Tue, 16 Jul 2019 17:35:00

Ursula von der Leyen: Who is the first woman president of the EU commission?

The German defence minister grew up in Brussels
Jon Stone / The Independent   |   Tue, 16 Jul 2019 17:14:00

Stocks Rebound As Powell Reiterates Dovish Fed Outlook In Paris Speech

Largely echoing his testimony to Congress and his recent press conference dovishness, Fed Chair Powell reaffirmed that rate cuts will come "if appropriate," sending stocks higher. "In addition, issues such as the U.S. federal debt ceiling and Brexit remain unresolved. FOMC participants have also raised concerns about a more prolonged ...
Tyler Durden / Zero Hedge   |   Tue, 16 Jul 2019 17:10:18

Pound hits two-year low as City fears of no-deal Brexit intensify

Sterling falls by a cent against dollar after Tory leadership candidates' backstop remarks The pound has fallen to its lowest level in more than two years after pledges by both Boris Johnson and Jeremy Hunt to ditch a key part of the UK-EU withdrawal agreement intensified City fears over a ...
Larry Elliott Economics editor / Guardian   |   Tue, 16 Jul 2019 17:08:27

Brexit: European holiday costs could soar by £225 per person as a result of no deal, campaigners warn

Warning comes as Tory leadership rivals Boris Johnson and Jeremy Hunt are blamed for slump in value of sterling
Andrew Woodcock / The Independent   |   Tue, 16 Jul 2019 16:49:00

Capitalism's take on creative destruction | Letters

For Schumpeter it was the creation that caused the economy to advance, the destruction was a regrettable consequence, writes Michael Heaslip; while Susanne MacGregor says Schumpeter would have seen the crises relished by Brexiters as a political choices Joseph Schumpeter might have regretted describing the process of economic development as ...
Letters / Guardian   |   Tue, 16 Jul 2019 16:41:31

The 'new right' is not a reaction to neoliberalism, but its offspring

The neoliberals' impact on the "new right" is nowhere clearer than in the British hard right's attempt to enforce a no-deal Brexit.
Lars Cornelissen / Open Democracy   |   Tue, 16 Jul 2019 16:16:30

Pound sinks below $1.24, engulfed by Tory Brexit 'perfect storm'

Sterling plunged briefly below $1.24 for the first time in 27 months on Tuesday and also hit six-month troughs against the euro as the two candidates to be Britain's next prime minister vied to
Reuters, London / Al Arabiya   |   Tue, 16 Jul 2019 16:00:20

Dublin warns Johnson and Hunt over Brexit backstop

Boris Johnson and Jeremy Hunt have been warned the EU will not consider any changes to the Irish border backstop, after the Tory leadership contenders hinted they would try and get it scrapped if they become prime minister.
Sky   |   Tue, 16 Jul 2019 15:47:00

Pound sinks below $1.24 engulfed by 'perfect storm'

Sterling plunged briefly below $1.24 for the first time in 27 months on Tuesday and also hit six-month troughs against the euro as the two candidates to be Britain's next prime minister vied to outgun each other on taking a harder Brexit stance.
Reuters   |   Tue, 16 Jul 2019 15:15:12

Irish finance minister says no-deal Brexit more likely

Irish finance minister Paschal Donohoe said on Tuesday that the prospect of Britain leaving the European Union without a deal was more likely than it had been.
Reuters   |   Tue, 16 Jul 2019 15:02:59

Factbox: EU prepares possible Brexit olive branch for new UK PM

The European Union is bracing for either a no-deal Brexit or another delay if Boris Johnson becomes Britain's prime minister next week with a pledge to renegotiate a stalled divorce deal the bloc says it will not reopen.
Reuters   |   Tue, 16 Jul 2019 15:02:51

Pound hits two-year low over rising fears of no-deal Brexit

The pound fell briefly to its lowest rate against the dollar in two years on Tuesday, as the two remaining Conservative Party leadership candidates appeared to spook the currency by refusing to rule out a no-deal departure from the EU in October.
Sky   |   Tue, 16 Jul 2019 14:56:00

PM candidate Johnson could send lawmakers away to go for no-deal Brexit - Sky

If Boris Johnson becomes British prime minister next week, he could send lawmakers home for up to two weeks in October to prevent them stopping a no-deal Brexit on Oct. 31, Sky reported, citing unidentified campaign sources.
Reuters   |   Tue, 16 Jul 2019 14:50:37

Midweek Brexit magnifies headache for banks

Britain leaving the European Union midweek without a deal would compound market disruption as banks would not have enough time to make technology changes, a European banking industry body said on Tuesday.
Reuters   |   Tue, 16 Jul 2019 14:46:48

Team Johnson considering plan to suspend parliament before Brexit

Boris Johnson could send MPs home for up to two weeks in October under plans being considered by his campaign.
Sky   |   Tue, 16 Jul 2019 14:05:00

Fox eyes 'big prize' of U.S. trade deal, says lots of issues in the way

The quicker Britain can reach a post-Brexit trade deal with the United States the better but there are a lot of issues in the way of doing so, British trade minister Liam Fox said on Tuesday.
Reuters   |   Tue, 16 Jul 2019 14:03:13

Peterborough by-election: No evidence for Brexit Party and Tory claims of electoral fraud, police conclude

Cambridgeshire Police dismiss vote-rigging claims following investigation into five allegations
Chris Baynes / The Independent   |   Tue, 16 Jul 2019 13:57:16

Brexit news - live: May was warned her three plans for Ireland were incompatible with each other, former ambassador tells MPs

Follow all the latest updates live
Ashley Cowburn, Harry Cockburn / The Independent   |   Tue, 16 Jul 2019 13:55:00

EU braces for no-deal Brexit or another delay under Boris Johnson

The European Union is bracing for either a no-deal Brexit or another delay if Boris Johnson becomes Britain's prime minister next week with a pledge to renegotiate a deal the bloc says it will not reopen.
Reuters   |   Tue, 16 Jul 2019 12:41:39

PM May - Keep talking to businesses as Brexit nears

Outgoing British Prime Minister Theresa May on Tuesday told her top ministers to keep engaging with businesses over Brexit, and that firms expect her successor to keep up infrastructure investment and continue developing an industrial strategy.
Reuters   |   Tue, 16 Jul 2019 12:05:11

Sarah Champion: I Would Back A No Deal Brexit

Sarah Campion, who represents the overwhelmingly Leave backing seat of Rotherham told PoliticsLive today that she would back a No Deal Brexit over a second referendum. "If it came to it, I would take no deal, if that meant we could leave, because we have to leave" If it came ...
Tom Harwood / Guy Fawkes' blog   |   Tue, 16 Jul 2019 11:49:25

Sterling extends slide below $1.25 as no-deal Brexit jitters jump

Sterling skidded to levels last traded in April 2017 on Tuesday, as investors worried the next British prime minister would take the country on a course towards a no-deal Brexit.
Reuters   |   Tue, 16 Jul 2019 11:43:48

GBP/USD - Hits new lows on Brexit worries

Sterling tumbles despite strong wage growth Sterling has taken a tumble this morning to hit fresh two year lows. The declines started early in European trade and have continued throughout the morning. The decline accelerated when the pound broke below 1.25 against the dollar and is now pushing 1.2450. A ...
Craig Erlam / OANDA   |   Tue, 16 Jul 2019 11:39:02

Pound Tumbles To Fresh Multiyear Lows As 'No Deal' Brexit Fears Intensify

As fears of a 'no deal' Brexit intensify, the British pound tumbled on Tuesday to its weakest level against the dollar since April 2017, falling 0.8% - its biggest intraday drop since March - to $1.2419. The pound has been weakening steadily as the Tory leadership race has progressed, amid ...
sellputs / Hedge Accordingly   |   Tue, 16 Jul 2019 11:21:41