Brexit News Archive: 09 Aug 2019

Johnson eyes fund to help businesses at risk of post-Brexit collapse - The Times

Prime Minister Boris Johnson is drawing up plans for a bailout fund to prop up businesses in the event of a no-deal Brexit, The Times reported.
Reuters   |   Fri, 9 Aug 2019 21:04:41

Johnson instructs civil servants to prepare for a no-deal Brexit

PM says officials must work 'urgently and rapidly' to ensure departments are ready
FT   |   Fri, 9 Aug 2019 18:53:13

Boris Johnson to reinstate the system of business councils - FT

Prime Minister Boris Johnson is set to reactivate the system of business councils as he ramps up attempts to win over businesses ahead of the Brexit deadline, the Financial Times reported on Friday.
Reuters   |   Fri, 9 Aug 2019 18:31:53

Britain 'may be unable to stop illegal EU fishing in no-deal Brexit'

Britain may be unable to prevent EU fishermen from entering UK waters illegally in the event of a no-deal Brexit because there are not enough vessels to police the seas, an internal government paper has revealed.
Sky   |   Fri, 9 Aug 2019 18:02:00

Recession threat hangs over economy ahead of Brexit

Second quarter contraction in GDP reflects weaker than expected economic performance
FT   |   Fri, 9 Aug 2019 17:45:39

With Britain on the cusp of recession, 'doomsters' may be proven right

Brexit uncertainty has acted like a handbrake on business activity and dictating corporate caution When Boris Johnson became prime minister he said the "doubters, doomsters, gloomsters" had got Britain wrong. After that first speech on the steps of Downing Street, the prime minister faces an early test, with official figures ...
Richard Partington Economics correspondent / Guardian   |   Fri, 9 Aug 2019 17:38:06

Could Boris Johnson really force through a no-deal Brexit in the middle of an election? A constitutional lawyer weighs in

The temperature has been rising over Brexit. Dominic Cummings, the UK prime minister's special adviser, has indicated that even if the government loses an autumn confidence vote and must ultimately call a general election, the PM may simply decide that polling day takes place after October 31. Since polling day ...
Asif Hameed, Lecturer in Law, University of Southampton / The Conversation   |   Fri, 9 Aug 2019 17:27:14

A no-deal Brexit won't be a clean break: this nightmare will go on for ever | Jonathan Freedland

It's a myth to think it will all be over on 1 November. Crashing out will merely lead to a new chapter of negotiations with Brussels The myths of a no-deal Brexit are about to collide with reality. Those myths are many, and they flourish on both sides of the ...
Jonathan Freedland / Guardian   |   Fri, 9 Aug 2019 16:50:55

OANDA Market Insights podcast (episode 77)

OANDA Senior Market Analyst Craig Erlam previews the week's business and market news with Jazz FM Business Breakfast presenter Jonny Hart. This week they discuss the UK GDP data, what it mean for Brexit and the week ahead, the latest on the US/China trade war and renewed political uncertainty in ...
Craig Erlam / OANDA   |   Fri, 9 Aug 2019 16:37:11

Rhetoric around no-deal Brexit unlikely to sound any better over next few weeks - TD Securities

Read more on
FX Street   |   Fri, 9 Aug 2019 16:12:24

Javid says the shrinking UK economy will emerge 'stronger' from no-deal Brexit. He's lying to himself, and you

Conning the people to appease the sociopaths in 10 Downing Street will not end well for anyone. Not even himself, in the end
Tom Peck / The Independent   |   Fri, 9 Aug 2019 15:42:48

Brexit hazard warning lights: UK economy contracts for first time since 2012

The British economy shrank unexpectedly for the first time since 2012 in the second quarter, dragged down by a slump in manufacturing just as Prime Minister Boris Johnson prepares to leave the European Union with or without a divorce deal.
Reuters   |   Fri, 9 Aug 2019 15:36:00

Recession fears grow as UK economy shrinks on back of Brexit chaos

A 0.2% contraction between April and June is first fall in GDP in six and a half years Business live blog - pound weakens as economy contracts Fears that the UK could be heading for its first recession in a decade have been stoked by grim official figures showing that ...
Larry Elliott Economics editor / Guardian   |   Fri, 9 Aug 2019 15:12:08

Austerity has made people less prepared for a no deal Brexit

The government says it's preparing to crash out of the EU. But ten years of spending cuts have made the people of Britain intensely vulnerable to economic shock.
Duncan Exley / Open Democracy   |   Fri, 9 Aug 2019 15:10:14

No-deal Brexit could trigger deadly clashes between fishermen, experts warn

'History shows us that fishing disputes can quickly escalate'
David Keys / The Independent   |   Fri, 9 Aug 2019 15:10:00

No-deal Brexit preparation is top priority, Johnson tells officials

British Prime Minister Boris Johnson wrote to all government employees on Friday to tell them that preparing for a no-deal exit from the European Union is his and their top priority, according to a copy of the email seen by Reuters.
Reuters   |   Fri, 9 Aug 2019 14:54:53

No-deal Brexit preparations 'top priority', Boris Johnson says

Boris Johnson says civil servants need to prepare for the possibility of a no-deal Brexit.
BBC   |   Fri, 9 Aug 2019 14:51:13

Britain will spend 'whatever it takes' on no deal preparations - Gove

Britain will spend "whatever it takes" before its due departure date from the European Union to prepare for the possibility of leaving without a divorce deal, the minister responsible for planning for a no-deal Brexit said on Friday.
Reuters   |   Fri, 9 Aug 2019 14:51:09

Boris Johnson news - LIVE: No 10 'cancels staff leave to prepare for no-deal' as fears of chaotic Brexit mount

Follow all the latest developments as they happened
Adam Forrest / The Independent   |   Fri, 9 Aug 2019 14:30:00

Pound Slide More About Brexit Than the Economy

A shrinking economy is bad, but a political crisis far worse.
Washington Post   |   Fri, 9 Aug 2019 13:55:14

Johnson tells civil servants their top priority is preparing for no deal Brexit - Sky

British Prime Minister Boris Johnson has written to all government civil servants to tell them that preparing for a no-deal exit from the European Union is his and their top priority, Sky News reported on Friday.
Reuters   |   Fri, 9 Aug 2019 13:31:52

'Top priority': PM tells civil servants to prepare 'rapidly' for no-deal Brexit

Boris Johnson has piled pressure on the civil service to prepare "rapidly" for a no-deal Brexit, after Downing Street aides had their summer holiday cancelled.
Sky   |   Fri, 9 Aug 2019 13:09:00

Europe rattled by Italy, Brexit stress; safe havens keep gaining

Trade war worries and the prospect of early elections in Italy and Britain hit European markets hard on Friday, while the search for safety left gold on course for its best week in three years, Japan's yen near an eight-month high and bonds surging.
Reuters   |   Fri, 9 Aug 2019 13:00:47

UK Economy Shrinks in Q2 As Brexit Pressures Manufacturing

The British economy has shrunk for the first time since late 2012, after official data Friday showed second-quarter gross domestic product (GDP) contracted by 0.2%. A consensus of analyst forecasts had predicted the economy would flatline during the period. In reaction, the pound dipped below $1.21 versus the dollar but ...
Alfonso Esparza / OANDA   |   Fri, 9 Aug 2019 12:32:33

Brexit: Chancellor announces one-year spending review

The one-year review will help government departments prepare for Brexit, says Sajid Javid.
BBC   |   Fri, 9 Aug 2019 12:20:38

UK enters shock economic downturn ahead of Brexit, first since 2012

Britain's economy shrank for the first time since 2012 in the second quarter, a severe hangover from a pre-Brexit stockpiling boost and one that bodes poorly as Prime Minister Boris Johnson gears up to leave the EU in October.
Reuters   |   Fri, 9 Aug 2019 12:18:35

UK Leans Toward Recession as GDP Contracts

Whether it is the effects of Brexit or the global economic slowdown, the U.K. economy shrank in the second quarter, a drop many experts had not expected. 247wallst
Douglas A. McIntyre / 24/7 Wall St.   |   Fri, 9 Aug 2019 12:10:41

UK car industry in brace position ahead of Brexit deadline

Carmakers face perfect storm of EU exit uncertainty and weaker demand in China With British manufacturing contracting sharply in the second quarter, firms large and small are feeling the pinch. Nowhere is that more the case than in the car industry, which is contending with a backlash against diesel and ...
Jasper Jolly / Guardian   |   Fri, 9 Aug 2019 12:10:24

Sterling sinks on gloomy data and sharpening Brexit concerns

UK currency trades at weakest point against the euro since 2017
FT   |   Fri, 9 Aug 2019 12:03:32

UK faces pressure over Brexit stance as economy dips

Statistics show the country is on the edge of a recession.
Matei Rosca / Politico   |   Fri, 9 Aug 2019 11:50:21

Brexit bites: UK economy shrinks for first time since 2012

The data, which was worse than market expectations for zero growth and also reflects global economic strains, sent the pound sliding against the euro and dollar.
AFP / Financial Express   |   Fri, 9 Aug 2019 11:39:05